AMZN | Morning News

BullVsBearDECEMBER 15, 2015

US futures adding to the prior session’s gains with Asian market trading mixed but European markets all in the green. The FOMC takes center stage as the meeting gets underway today. Overnight, crude rebounded adding to Monday’s gains, despite waning confidence in the commodity as global supply and demand issues persist.

NEWS:

  • GBX: awarded $170M order for 1800 railcars
  • V: added to Goldman’s Conviction Buy list
  • FFIV: announces resignation of CEO
  • VRX:Valeant announces new US fulfillments, distribution agreements with Walgreens
  • AMGN: GSK: Amgen regains rights to three drugs from Glaxo
  • USO: OIH:Moody’s cuts its oil forecast for 2016 to $40 a barrel
  • SIRI:Howard Stern and SiriusXM announce 12-year agreement

THE ECONOMIC CALENDAR:

  • FOMC meeting begins
  • 8:30AM: Consumer Price Index
  • 8:30AM: Empire State Manufacturing Survey
  • 8:55AM: Redbook Chain Store Sales
  • 10AM: NAHB Housing Market Index
  • 4PM: Treasury International Capital

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • PAY: FQ4 EPS of $0.49 beats by $0.01: revenue of $514.1M beats by $0.67M: revenue +4.8% y/y: weak guidance
  • FCEL:FQ4 EPS of -$0.38 misses by $0.10: revenue of $51.5M beats by $6.87M: revenue -5.3% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • HIE, LAKE

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SWN: upgrade: neutral to overweight: JP Morgan
  • WNS:upgrade: neutral to buy: Goldman
  • COH: upgrade: market perform to outperform: Cowen: $38
  • CBI: upgrade: neutral to outperform: Baird: $52
  • PE: upgrade: sector perform to outperform: RBC Capital: pt raised from $22 to $26
  • AGRO: upgrade: neutral to buy: BofA/Merrill
  • SYMC: upgrade: equal weight to overweight: Morgan Stanley
  • AMGN: upgrade: equal weight to overweight: Morgan Stanley: pt raised from $160 to $193
  • BHP: upgrade: neutral to outperform: Credit Suisse
  • AIV: upgrade: neutral to buy: Citi
  • AIG: upgrade: market perform to outperform: Keefe Bruyette: $72
  • QTS: upgrade: hold to buy: Stifel
  • PNRA: upgrade: underperform to neutral: Longbow

DOWNGRADES:

  • OAS: downgrade: buy to neutral: UBS
  • APA: downgrade: buy to hold: Argus:
  • CTSH: downgrade: conviction buy to buy: Goldman
  • WSTC: downgrade: neutral to sell: Goldman: $20
  • DOW: downgrade: buy to neutral: UBS: $53
  • JCI: downgrade: outperform to sector perform: RBC Capital: pt cut from $51 to $46
  • AXL: downgrade: outperform to sector perform: RBC Capital: pt cut from $26 to $23
  • NWL: downgrade: outperform to market perform: Raymond James:
  • JAH: downgrade: outperform to market perform: Raymond James:
  • WDR: downgrade: neutral to sell: Citi
  • AMG: downgrade: buy to neutral: Citi: pt cut from $210 to $175
  • TEN: downgrade: outperform to sector perform: RBC Capital: pt cut from $62 to $55
  • ZOES: downgrade: neutral to underperform: Credit Suisse
  • ATRA: downgrade: buy to sell: Citi: $16
  • H: downgrade: buy to neutral: Citi: $54
  • LHO: downgrade: buy to neutral: Citi

INITIATIONS:

  • PE: initiated: buy: UBS: $23
  • FEYE: initiated: buy: Evercore: $39
  • PANW: initiated: buy: Evercore: $215
  • CYBR: initiated: hold: Evercore: $43
  • AMZN: initiated; buy: MKM Partners: $800
  • JD: initiated: buy: MKM Partners:
  • TRP: initiated: overweight; JP Morgan
  • DOOR:initiated: overweight; JP Morgan: $80
  • ENB: initiated: overweight: JP Morgan
  • SQ: initiated: hold: Topeka Capital: $13
  • DLTH: initiated: outperform: Baird: $20
  • INST: initiated: overweight; First Analysis Sec: $26
  • CNOB: initiated: buy: Maxim Group: $23
  • PLKI: initiated: buy : Maxim Group: $68

PRICE TARGET CHANGES:

  • CVX: pt raised from $95 to $122: Cowen
  • NKE: pt raised from $135 to $146: Stifel
  • UTX: pt raised from $100 to $102: RBC Capital
  • FSB: pt raised from $40 to $41: Compass Point
  • AKBA: pt raised from $14 to $18: Needham
  • AKBA: pt raised from $24 to $25: HC Wainwright
  • PIR: pt cut from $10 to $7: Telesey Advisory
  • ACAT: pt cut from $19 to $17: Wunderlich
  • MU: pt cut from $18 to $15: Mizuho
  • APPS: put cut from $9 to $6: Roth Capital
  • KMX: pt cut from $69 to $65: RBC Capital
  • ESPR: pt cut from $65 to $40: RBC Capital
  • TMH: pt cut from $75 to $62: RBC Capital
  • PAY: pt cut from $40 to $33: RBC Capital
  • ATRA: pt cut from $80 to $47: Canaccord
  • MPC: pt cut from $69 to $62: Scotia Howard Weil
  • DK: pt cut from $40 to $28: Scotia Howard Weil
  • HFC: pt cut from $59 to $47: Scotia Howard Weil

 

 

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