AMZN | Morning News

ZIRP Rules Again!!NOVEMBER 30, 2015

US futures point to a modestly higher opening as the holiday season gets underway and the week ahead points to volatility with some key announcements and meetings. The dollar holding the flatline with the euro heading for the largest monthly loss since March. Overnight, crude traded higher as investors look ahead to the OPEC meeting and petroleum inventories later in the week.

NEWS:

  • BHP:  VALE: Brazilian authorities threaten a $7.2B legal suit over the company’s mine disaster in the south-eastern state of Minas Gerais
  • V: Swatch, Visa to launch pay-by-wrist venture
  • HZNP: Horizon Pharma receives EC approval for Ravicti
  • TEVA: files automatic securities shelf
  • TEVA:Teva Pharmaceutical Industries and Takeda Pharmaceutical form a joint venture in Japan with the aim of building a leadership position in the fast-growing generic medicines there
  • AMZN: Amazon releases new drone delivery video, the key delivery area seeming to be the backyard
  • SNY: Lazard works with Sanofi on $12.7 billion animal health unit deal, reports reuters
  • UA: DECK: estimates and price targets cut on both companies at Piper Jaffray
  • BMY:FDA declines expanded approval for Bristol-Myers; Opdivo, the company’s skin cancer drug
  • SNE: MSFT: Digitimes Research expects Microsoft’s Xbox One and Sony’s PlayStation 4 to achieve shipments of 13 and 18 million units, respectively in 2016
  • TU: announces intention to buy and cancel up to 3.M shares of common stock through private transactions
  • PFE: Pfizer enters strategic drug discovery collaboration with Heptares

THE ECONOMIC CALENDAR:

  • 9:45AM: Chicago PMI
  • 10AM: Pending Home Sales
  • 10:30AM: Dallas Fed Manufacturing Survey
  • 3PM: Farm Prices

SOME NOTABLE EARNINGS REPORTED BEFORE THE OPENING TODAY:

  • WUBA: Q3 EPS of -$0.50 beats by $0.22: revenue of $212.9M beats by $12.88M: revenue +195.9% y/y
  • QURE: Q3 EPS of -€1.08 vs -€o.51 last year: revenue of €3.15M: revenue +215.0% y/y

SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE CLOSE TODAY:

  • BLOX, NQ, SCVL, THO

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • GD: upgrade: equal weight to overweight: Barclays: $157
  • FIT: upgrade: equal weight to overweight: Barclays: $49
  • PM: upgrade: reduce to neutral: Nomura: $88
  • PE: upgrade: sector outperform to focus stock: Scotia Howard Well: pt raised from $22 to $25
  • MSFT: upgrade: market perform to strong buy: Raymond James
  • SYF: upgrade: market perform to outperform: BMO Capital

DOWNGRADES:

  • LMT: downgrade: equal weight to underweight: Barclays: pt cut from $1215 to $210
  • LULU: downgrade: market perform to underperform: FBR Capital: pt cut from $55 to $42
  • RTN: downgrade: overweight to equal weight: Barclays: $125
  • SINA: downgrade: buy to neutral: Goldman: $50
  • SOHU: downgrade: hold to sell: Goldman: $48
  • SFUN: downgrade:buy to neutral: Goldman: $7.70
  • MAR: downgrade: buy to hold: Evercore:
  • HOT: downgrade: buy to hold: Evercore:
  • COTY: downgrade: equal weight to underweight: Morgan Stanley: $26
  • ABY: downgrade: buy to hold: Canaccord: pt cut from $29.50 to $16
  • AEO: downgrade: outperform to perform: Oppenheimer: $20
  • PBH: downgrade: hold to underperform: Jefferies: $44
  • PCAR: downgrade: outperform to sector perform: RBC Capital: pt cut from $64 to $57

INITIATIONS:

  • DVAX: initiated: outperform: RBC Capital: $48
  • GWPH: initiated: buy: Roth Capital: $130
  • CXRX: initiated: sector perform: CIBC: $47
  • NAVI: initiated: overweight: JP Morgan: $15
  • SLM: initiated: overweight: JP Morgan: $10

PRICE TARGET CHANGES:

  • VIAB: pt raised from $48 to $49: Topeka Capital
  • HA: pt raised from $31 to $37: Cowen
  • GE: pt raised from $32 to $34: RBC Capital
  • CANE: pt raised from $4 to $6: HC Wainwright
  • CPSI: pt raised from $43 to $53: RBC Capital
  • LGF: pt cut from $43 to $38: FBR Capital
  • SRCL: pt cut from $122 to $119: RBC Capital
  • SNI: pt cut from $76 yo $69: RBC Capital
  • UA: pt cut from $97 to $88: Piper Jaffray

 

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