NFLX | AMZN | Morning News

stock market newsJUNE 19, 2015

US futures push higher at this 7AM hour for the fourth day after dovish tones set the bullish pace after the FOMC meeting. With a soft economic calendar today, investors still have an eye on the ongoing Greek debt crisis with rumors that Russia could come to its rescue. Overnight, Shanghai falls into correction territory as it drops another 6.4%, down 10% since earlier this month.

NEWS:

  • CAG:Jana Partners discloses a new 7.2% stake in ConAgra
  • NVS: TEVA: Novartis’ Sandoz Launches Generic Version Of Teva’s Copaxone In US, reports nasdaq
  • CTRP: increases the convertible offering to $1.1B worth of notes, up from the $1B announced yesterday
  • FB: Facial-Recognition Concerns Keep Facebook ‘Moments’ From Europe, reports wsj blogs
  • TM: its new communications chief, Julie Hamp, was arrested on suspicion of illegally bringing pain killers into Japan, reports FT
  • GILD: China rejects Gilead’s application for a new patent related to Sovaldi, its hep C drug, reuters reports
  • AMZN: announces book deal with Penguin Random House
  • EA: announces 3 new Star Wars games at the E3 gaming expo
  • WYNN: LVS: MGM: Wells Fargo out negative on Macau gaming revenue
  • HSY: announces downbeat profit guidance: plans to cut 300 jobs: cuts sales outlook

ON THE ECONOMIC CALENDAR:

  • 10AM: Atlanta Fed’s Business Inflation Expectations

EARNINGS: 

  • KBH: conference call 11:30AM EST
  • KMX: Q1 EPS of $0.86 in-line.Revenue of $4.01B misses by $140M: conference call 9AM EST

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:

  • RHT:FQ1 EPS of $0.42 beats by $0.01.Revenue of $481M beats by $8.41M: strong dollar had negative impact: soft FQ2 guidance: raises FY16 EPS view to $1.81-$1.84 from $1.79-$1.82 v. consensus $1.81
  • SWHC:FQ4 EPS of $0.45 beats by $0.10.Revenue of $180.99M beats by $5.5M: soft guidance
  • FNSR:FQ4 EPS of $0.25 in-line.Revenue of $320.05M misses by $0.45M: guidance sees FQ1 revenue of $308M-$328M and EPS of $0.23-$0.29, in-line with a consensus of $318M and $0.2

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • AMED: upgrade: hold to buy: Jefferies: $48
  • MU: upgrade: hold to buy: Topeka: pt raised from $30 to $34
  • ED: upgrade: sell to hold: Evercore:
  • NSH: upgrade: neutral to buy: BofA/Merrill
  • NS: upgrade: neutral to buy: BofA/Merrill
  • RPT: upgrade: neutral to outperform: Baird: $20
  • ECA: upgrade: market perform to outperform: BMO Capital: $15
  • SWHC: upgrade: sector perform to outperform: RBC Capital: pt raised from $16 to $21

DOWNGRADES:

  • BMRN: downgrade: outperform to neutral: Baird: NOTE pt raised from $125 to $133
  • BP: downgrade: outperform to sector perform: RBC Capital
  • FNSR: downgrade: strong buy to outperform: Raymond James
  • PSA: downgrade: buy to hold: Cantor:

INITIATIONS:

  • FSB: initiated: buy: Wunderlich: $28
  • RLGY: initiated: equal weight: Stephens: $50

PRICE TARGET CHANGES:

  • MNTA: pt raised from $25 to $31: Brean Capital
  • NFLX: pt raised from $610 to $800: Oppenheimer
  • CAG: pt raised from $37 to $44: Bernstein
  • FSLR: pt raised from $69 to $73: Needham
  • RHT: pt raised from $85 to $88: Mizuho
  • RHT: pt raised from $80 to $85: Northland Capital
  • RHT: pt raised from $78 to $88: UBS
  • RHT: pt raised from $85 to $90: Cantor
  • RHT: pt raised from $82 to $86: Needham
  • TYC: pt cut from $51 to $47: Imperial Capital

 

About the Author

Leave a Reply 0 comments

Leave a Reply: