BABA | Morning News

alibaba-logoOCTOBER 27, 2015

US futures skating along the flat line at this hour as markets trade mixed around the world and investors digest a plethora of earnings reports and await the FOMC announcement tomorrow afternoon. Overnight, crude weakened even further as US stockpiles build. All eyes on API US crude inventories and production data forecasts scheduled to be released later today.

NEWS:

  • RMBS: announces authorization of a $100M accelerated buyback program
  • HAIN: files automatic mixed securities shelf
  • NBL: Cowen out positive on the company. Top Pick with $52 pt.
  • GWPH: announces that two Sativex phase 3 trials did not meet endpoints
  • QCOM: Qualcomm Eyes Security Cameras, Other Markets as Smartphone Growth Slows

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Durable Goods
  • 8:55AM: Redbook Chain Store Sales
  • 9AM: S&P Case-Shiller Home Price Index
  • 9:45AM: PMI Services Index Flash
  • 10AM: Richmond Fed Manufacturing
  • 10AM: Consumer Confidence
  • 10AM: State Street Investor Confidence Index

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • CAKE :Q3 EPS of $0.59 beats by $0.03: revenue of $526.69M misses by $8.26M: revenue +5.5%y/y: light guidance
  • MSTR:Q3 EPS of $2.06 beats by $0.10: revenue of $129.54M misses by $8.22M: revenue -14.3% y/y: license subscriptions -15%
  • TCO: Q3 FFO of $0.86 beats by $0.08: revenue of $139.98M beats by $0.64M: revenue =20.5% y/y: raises guidance
  • EW:Q3 EPS of $1.07 beats by $0.09: revenue of $615.5M beats by $17.21M: revenue +1.3% y/y: guides in-line
  • KN:Q3 EPS of $0.16 beats by $0.05: revenue of $294.6M misses by $3.29M: revenue -2.1% y/y: guides revenue below consensus
  • SWFT: Q3 EPS of $0.31 misses by $0.01: revenue of $1.07B misses by $10M: guides in-line
  • AMKR: Q3 EPS of $0.12 beats by $0.08: revenue of $734M beats by $8.98M: revenue -9.7% y/y: weak guidance
  • CYOU:Q3 EPS of $1.43 beats by $0.71: revenue of $188.88M beats by $12.45M: revenue +4.5% y/y: soft guidance
  • PCL: Q3 EPS of $0.58 beats by $0.07: revenue of $414M: revenue +10.4% y/y: guides below consensus
  • HIG: Q3 EPS of $0.86 misses by $0.12: revenue of $4.56B misses by $190M: revenue -4.4% y/y: weak guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • BEAV: Q3 EPS of $0.73 in-line: revenue of $679.8M misses by $21.83M: revenue +4.0% y/y: guides FY15 EPS about $3.03 vs. consensus $3.04
  • BABA:Q3 EPS of $0.57 beats by $0.03: revenue of $3.49B beats by $130M: revenue +31.7% y/y
  • IMGN:FQ1 EPS of -$0.39 misses by $0.04: revenue of $14.85M misses by $0.99M: revenue +12.5% y/y: guides FY16 revenue $70M-$80M vs consensus $92.08M
  • COH:Q3 EPS of $0.41 beats by $0.01: revenue of $1.03B misses by $10M: revenue -1.0% y/y: reaffirms guidance
  • PFE:Q3 EPS of $0.60 beats by $0.09: revenue of $12.09B beats by $530M: revenue -2.2% y/y: guidance raised FY15 adjusted EPS to $2.16-2.20 from $2.04-2.10
  • BAX:Q3 EPS of $0.41 beats by $0.12: revenue of $2.49B beats by $30M: revenue -8.1% y/y: guidance raised FY15 EPS ex-items to $1.85-1.90 from $1.70-1.80
  • GLW:Q3 EPS of $0.34 misses by $0.01: revenue of $2.45B misses by $70M: revenue -5% y/y: sees increasing dividend by at least 10% annually through 2019
  • BMY:Q3 EPS of $0.39 beats by $0.04: revenue of $4.07B beats by $210M: revenue +3.8% y/y
  • RAI:Q3 EPS of $0.55 in-line: revenue of $3.16B beats by $20M: revenue +41.1% y/y
  • MGLN:Q3 EPS of $0.76 beats by $0.27: revenue of $1.19B beats by $20M: revenue +28.9% y/y: guides FY15 adjusted EPS $2.82-3.32 vs consensus $1.70
  • IR:Q3 EPS of $1.21 beats by $0.05: revenue of $3.49B misses by $20M: revenue +3.3% y/y
  • F: Q3 EPS of $0.45 misses by $0.02: revenue of $38.1B beats by $3.03B
  • CMI:Q3 EPS of $2.14 misses by $0.46: revenue of $4.6B misses by $310M: revenue -5.9% y/y
  • CMCSA: Q3 EPS of $0.80 in-line: revenue of $18.67B beats by $650M: revenue +11.2% y/y
  • UPS:Q3 EPS of $1.39 beats by $0.02: revenue of $14.24B misses by $190M: revenue -0.3% y/y
  • JBLU:Q3 EPS of $0.58 beats by $0.01: revenue of $1.68B misses by $10M: revenue +9.8% y/y
  • DD: Q3 EPS of $0.13 beats by $0.03: revenue of $4.97B misses by $330M:revenue -20.7% y/y
  • UTHR:Q3 EPS of $3.55 beats by $1.18: revenue of $386.22M beats by $23.54M: revenue +17.1% y/y
  • MRK:Q3 EPS of $0.96 beats by $0.04 revenue of $10.07B in-line: revenue -4.6% y/y
  • CNC:Q3 EPS of $0.84 beats by $0.06: revenue of $5.82B beats by $50M: revenue +33.8% y/y
  • SAVE:Q3 EPS of $1.35 beats by $0.03: revenue of $574.84M beats by $2.54M: revenue +10.6% y/y
  • MDC: Q3 EPS of $0.30 misses by $0.14: revenue of $455.64M misses by$63.24M: revenue +11.9% y/y
  • CNX:Q3 EPS of -$0.28 misses by $0.23: revenue of $813.94M beats by $90.1M: revenue -8% y/y
  • ST:Q3 EPS of $0.72 beats by $0.01: revenue of $727.36M misses by $7.39M: revenue +26% y/y
  • POR:Q3 EPS of $0.40 misses by $0.08: revenue of $476M misses by $18.31M: revenue -1.7% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • AAPL,  AFL, AIZ, AJG, AKAM, APC, ATRC, AXS, BGFV, BGS, BLDP, BOOM, CBG, CEB, CHRW, CLD, CLMS, CMP, CNI, CUZ, CVA, DDR, EIX, ESRX, ETH, EXAC, FISV, FNF, GILD, GNMK, HIW, HLIT, HTS, INFN, KKR, MAC, MDWD, NBR, NCR, NUVA, PNRA, RGC, RPXC, RSYS, RUBI, SFLY, SKT, SKYW, SLCA, SM, STAG, SYA, TER, TSS, TWTR, UHS, ULTI, VRSK, WNC, WSH, XCO

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • JAKK: upgrade: market perform to outperform: BMO Capital: $11
  • DPS: upgrade: underperform to market perform: RBC Capital: pt raised from 468 to $90
  • VMW: upgrade: hold to buy: Drexel Hamilton: $73
  • VRX: upgrade: neutral to buy: Mizuho: $155

DOWNGRADES:

  • CROX: downgrade: buy to neutral: Sterne Agee
  • DSW: downgrade: buy to neutral: Sterne Agee
  • DECK: downgrade: buy to neutral: Sterne Agee
  • CYH: downgrade: outperform to market perform: Leerink: pt cut from $75 to $33
  • TRIP: downgrade: outperform to neutral: Macquarie: pt cut from $86 to $84
  • BRCM: downgrade: buy to neutral: B Riley: $55
  • MRVL: downgrade: neutral to sell: UBS: pt cut from $9 to $6
  • HCLP: downgrade: buy to sell: UBS: pt cut from $15 to $4
  • HCLP: downgrade: neutral to underperform: Baird: pt cut from $10 to $4
  • LVS: downgrade: overweight to equal weight; Barclays: $45
  • KN: downgrade: market perform to underperform: FBR Capital: pt cut from $18 to $15

INITIATIONS:

  • SLW: initiated: overweight: Barclays: $18
  • PFGC: initiated: overweight: Barclays: $26
  • SRC: initiated: buy: Wunderlich: $12.50
  • STOR: initiated: buy: Wunderlich: $25.50
  • LVS: initiated: buy: Gabelli: $60
  • WHR: initiated: buy: Gabelli: $197

PRICE TARGET CHANGES:

  • AMZN: pt raised from $650 to $727: Axiom Capital
  • CTRP: pt raised from $91 to $115: Piper Jaffray
  • CTRP: pt raised from $88 to $110: Oppenheimer
  • EQR: pt raised from $81 to $91: Mizuho
  • CDNS: pt raised from $23 to $25: RBC Capital
  • CDNS: pt raised from $24 to $25: Northland Capital
  • FCX: pt raised from $14 to $15: RBC Capital
  • ROP: pt raised from $198 to $207: RBC Capital
  • HIG: pt cut from $45 to $44: RBC Capital
  • CAKE: pt cut from $60 to $55: Telsey Advisory
  • MRVL: pt cut from $14 to $11.50: Cowen
  • MRVL: pt cut from $10 to $9: RBC Capital
  • MCK: pt cut from $275 to $210: Mizuho
  • VRX: pt cut from $250 to $231: RBC Capital

 

 

About the Author

Leave a Reply 0 comments

Leave a Reply: