CMG | Morning News

opinions-jesse-livermore-trading-rulesDECEMBER 10, 2015

US futures holding onto gains at this hour while European and most Asian markets traded lower overnight. Crude oil remains under continued pressure as the commodity trades in the negative after the monthly oil report from the OPEC countries, and continued oversupply concerns.

NEWS:

  • CPN:Hotchkis and Wiley reports 10.59% passive stake in Calpine
  • AMZN:announces launch of delivery service of alcohol in Manhattan
  • INFY: announces contract with DNB Bank of Norway
  • CMG: outbreak at Boston College confirmed to be norovirus and not e coli
  • TEVA: Ad Comm backs Teva’s reslizumab in adults but not adolescents
  • FSLR: issues mixed FY16 guidance 
  • ATHN: issues solid FY16 guidance

THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Import/Export Prices
  • 9;45AM: Bloomberg Consumer Comfort Index
  • 10AM: Quarterly Services Report
  • 10:30AM: EIA Natural Gas Inventory
  • 1PM: $16B, 30 Year Note Auction
  • 2PM: Treasury Budget
  • 4:30PM: Money Supply and Fed Balance Sheet

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • DMND:FQ1 EPS of $0.28 misses by $0.02: revenue of $224.8M misses by $9M: revenue -8.8% y/y: reaffirms guidance
  • OLLI:FQ3 EPS of $0.11 beats by $0.03: revenue of $174.56M beats by $5.34M: revenue +16.4% y/y: strong guidance
  • MW:FQ3 EPS of $0.50 in-line: revenue of $865.45M misses by $11.36M.: revenue -2.8% y/y

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • CIEN:FQ4 EPS of $0.42 beats by $0.04: revenue of $692M beats by $8.44M: revenue +17.1% y/y
  • GEF:FQ4 EPS of $0.76 beats by $0.27: revenue of $868.5M misses by $30.03M: revenue -17.3% y/y
  •  FQ4 EPS of $0.10 beats by $0.02.Adj: revenue of $151.72M misses by $6.85M: revenue-4.4% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ADBE, DDC, FNSR, IRET, NCS, NDSN, PPHM, RH, VNCE

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • PAA: upgrade: neutral to outperform: Baird: $25
  • TOL: upgrade: underperform to sector perform: RBC Capital: pt raised from $35 to $37
  • EQY: upgrade: market perform to outperform: Wells Fargo:
  • CYBR: upgrade: underweight to overweight: JP Morgan: (that’s a double upgrade): $48

DOWNGRADES:

  • LULU: downgrade: outperform to market perform: Bernstein: $50
  • FSLR: downgrade: buy to hold: Needham
  • TSO: downgrade: buy to hold: Deutsche Bank: $128
  • SNY: downgrade: neutral to underperform: BNP Pariabas
  • AEG: downgrade: outperform to sector perform: RBC Capital
  • QLYS: downgrade: neutral to underweight: JP Morgan: $37
  • HBAN: downgrade: overweight to equal weight: Morgan Stanley: $12.50

INITIATIONS:

  • REED: initiated: buy: Maxim Group: $10
  • AVGO: initiated: outperform: FBR Capital: $185
  • MBLY: initiated: market perform: FBR Capital: $50
  • BLKB: initiated: outperform: Baird: $75
  • PMT: initiated: overweight: Barclays: $21
  • PFSI: initiated: overweight: Barclays: $20
  • APO: initiated:  buy: Jefferies: $19
  • KKR: initiated: buy: Jefferies: $20
  • RICE: initiated: buy: Stifel: $14
  • HXL; initiated: buy: BB&T: $60
  • AGII: initiated: overweight: Piper Jaffray: $74
  • AWH: initiated: overweight: Piper Jaffray: $44
  • NEWT: initiated: outperform: Keefe Bruyette: $16
  • MTCH: initiated: buy: UBS: $18

PRICE TARGET CHANGES:

  • FRAN: pt raised from $14 to $17: Wolfe Research
  • EW: pt raised from $179 to $195: Stifel
  • ESL: pt raised from $90 to $107: UBS
  • TRIP: pt raised from $90 to $120: Piper Jaffray
  • TSO: pt raised from $107 to $112: RBC Capital
  • FBHS: pt raised form $53 to $60: RBC Capital
  • LRCX: pt raised from $85 to $90: Cowen
  • VRA: pt raised from $14 to $17: Telsey Advisory
  • XONE: pt raised from $8 to $10: Stephens
  • CVA: pt cut from $20 to $18.50: Imperial Capital
  • LULU: pt cut from $42 to $40: FBR Capital
  • LULU: pt cut from $77 to $62; RBC Capital

About the Author

Leave a Reply 0 comments

Leave a Reply: