AMZN | Morning News

santa-claus-rally-stock-market-option-trading-etf-education-technical-analysisDECEMBER 01, 2015

US futures set for a higher opening as December gets underway and hopes for a Santa rally gains steam. Overseas, Japanese manufacturing activity expanded at its fastest pace in 20 months in November as output and new export orders picked up, sending the Nikkei back above 20,000. Meanwhile, the Shanghai brushed off mixed PMI data out of China, closing positive. Oil prices rose in early Asian trade, but worries of a persistent global glut keeps pressure on the commodity.

NEWS: 

  • MFRM: expects to report FQ3 revenue of $699.5M vs. $657M consensus and EPS of $0.80-$0.82 vs. $0.77 consensus
  • WMB: Lone Pine Capital files 5.6% passive stake in Williams
  • ESRX: IMMY:Express Scripts and Imprimis Pharma team up offer $1 alternative to Daraprim
  • DOW: announces all of it’s DNA related herbicide business to Gowan
  • BIDU: BABA: CTRP: QUNR: NTES: are among the companies being added to the MSCI today
  • AMZN: EBAY: OSTK: Adobe Data Shows Cyber Monday Largest Online Sales Day in History with $3 Billion
  • MSFT: AAPL: SNE: HAS: MAT: Adobe Data Shows Top Sellers on Black Friday: Samsung TVs, iPad Air 2, Microsoft XBox, Lego Star Wars, Shopkin Dolls

THE ECONOMIC CALENDAR:

  • Various times: Auto Sales
  • 8;30AM: Gallup US ECI
  • 8:55AM: Redbook Chain Store Sales
  • 9:45AM: PMI Manufacturing Index
  • 10AM: ISM Manufacturing Index
  • 10AM: Construction Spending
  • 12:45AM: Fed Evans Speaks on “US Economy”

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • BLOX:FQ1 EPS of $0.13 beats by $0.07: revenue of $94M beats by $6.42M: revenue +40.9% y/y: announced a $100M buyback program authorization: strong guidance
  • THO: FQ1 EPS of $0.97 beats by $0.14: revenue of $1.03B beats by $20M: revenue +11.7% y/y
  • NQ:Q3 EPS of $0.01: revenue of $87.9M: revenue +8.3% y/y
  • SCVL: Q3 EPS of $0.47 in-line: revenue of $269.7M beats by $5.45M: revenue +5.9% y/y: cuts guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • BMO:FQ4 EPS of C$1.90 beats by C$0.16: revenue of C$4.72B misses by C$40M: revenue +8.8% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • APIC, ASNA, BOBE, CFI, GWRE, POWL, UTI

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • NOK: upgrade: neutral to outperform: Credit Suisse: pt raised from EU7 to EU9
  • RAX: upgrade: sector perform to outperform: RBC Capital: $36
  • YUM: upgrade: market perform to outperform: Cowen:
  • ALU: upgrade: neutral to outperform: Credit Suisse
  • MRK: upgrade: equal weight to overweight: Barclays: $66
  • JNJ: upgrade: equal weight to overweight: Barclays: $115
  • LLY: upgrade: equal weight to overweight: Barclays: pt raised from $75 to $95
  • TERP: upgrade: perform to outperform: Oppenheimer: $10
  • PXD: upgrade: outperform to strong buy: Raymond James

DOWNGRADES:

  • ABBV: downgrade: overweight to equal weight: Barclays: $72
  • GFI: downgrade: outperform to sector perform: RBC Capital
  • ZUMZ: downgrade: outperform to market perform: Blair
  • CMI: downgrade: buy to underperform: BofA/Merrill: pt cut from $115 to $90
  • JOY: downgrade: neutral to underperform: BofA/Merrill: pt cut from $21 to $10
  • ADRO: downgrade: outperform to perform: Oppenheimer
  • CSC: downgrade: buy to neutral: SunTrust: pt cut from $78 to $34

INITIATIONS:

  • BGSF: initiated: buy: Roth Capital: $18
  • ADMP: initiated: buy: Maxim Group: $16
  • HAWK: initiated: overweight: First Analysis: $58
  • CDW: initiated: buy: Goldman: $52
  • RARE: initiated: buy: Stifel: $125

PRICE TARGET CHANGES:

  • BMY: pt raised from $55 to $70: Barclays
  • QURE: pt raised from $33 to $60: WallachBeth
  • AMZN: pt raised from $700 to $850: Barclays
  • MFRM: pt raised from $47 to $55: Piper Jaffray
  • FIVE: pt cut from $46 to $40: RBC Capital

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