CPI on tap | Morning News

ZIRP Rules Again!!NOVEMBER 17, 2015

US futures following green arrows around the world as investors await two government reports this morning which should provide an early indication of how the economy performed last month.The Labor Department’s CPI is expected to show a 0.2% increase, reversing September’s 0.2% drop. Industrial production is expected to contain several mixed components, but will likely show an overall gain of 0.1% for October.

NEWS:

  • BIDU:Baidu is set to announce that it will partner with Citic to launch an online lender
  • GE:says its offer to shareholders to exchange its common stock for shares of Synchrony Financial was oversubscribed by 3.2 times.The exchange will reduce the outstanding float of GE common stock by about 6.6% the equivalent of a $20.4B GE stock buyback
  • CERU: AZN: Cerulean and AstraZeneca team up with the National Cancer Institute in lung cancer study
  • MYL: Mylan launches generic Axert tablets, reports newswire
  • OCRX:Ocera’s oral formulation of OCR-002 produces encouraging results in early-stage study
  • ANGI: company rejects IAC’s buyout bid
  • EBAY: PYPL:Icahn exits eBay stake, opts for PayPal after spinoff, reports reuters
  • AZN:AstraZeneca’s new lung cancer pill Tagrisso, which won early U.S. approval on Friday, will cost $12,750 for a month’s supply.

THE ECONOMIC CALENDAR:

  • 8:30AM: CPI
  • 8:55AM: Redbook Chain Store Sales
  • 9:15AM: Industrial Production
  • 10AM: NAHB Housing Market Index
  • 10AM: E-Commerce Retail Sales
  • 4PM: Treasury International Capital

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • A:FQ4 EPS of $0.50 beats by $0.03: revenue of $1.04B in-line: reenue -8.0% y/y: guides below consensus
  • NUAN:FQ4 EPS of $0.41 beats by $0.06: revenue of $513.32M beats by $5.48M: revenue -1.3% y/y: strong guidance
  • URBN:Q3 EPS of $0.42 in-line: revenue of $825.26M misses by $46.74M: revenue +1.3% y/y

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • HD: Q3 EPS of $1.35 beats by $0.03: revenue of $21.82B beats by $60M: revenue +6.3$% y/y: solid guidance
  • WMT:Q3 EPS of $1.03 beats by $0.05: revenue of $117.05B misses by $740M: revenue -1.6% y/y: upbeat guidance
  • DKS:Q3 EPS of $0.45 misses by $0.02: revenue of $1.64B in-line: revenue +7.2% y/y: weak guidance
  • JASO: Q3 EPS of $0.68 beats by $0.36: revenue of $600.97M beats by $88.6M: revenue +22.1% y/y
  • SOL: Q3 EPS of $0.08 beats by $0.10: revenue of $368.24M beats by $28.22M: revenue -1.1% y/y: guides Q4 revenue $275M-$295M vs consensus $278.62M
  • RCAP:Q3 EPS of $0.10 misses by $0.03: revenue of $589.58M beats by $56.88M: revenue +15.2% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • JACK, LZB, MTSI, VIPS

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • CF: upgrade: neutral to positive: Susquehanna: $58
  • MCO: upgrade: neutral to buy: UBS
  • FWRD: upgrade: neutral to outperform: Baird: pt raised from $51 to $55
  • PCL: upgrade: sector perform to outperform: RBC Capital: pt raised from $42 to $56
  • FIT: upgrade: neutral to buy: BofA/Merrill: $36

DOWNGRADES:

  • SWN: downgrade: neutral to underperform: Sterne Agee: $8
  • PII: downgrade: outperform to neutral: Wedbush: pt cut from $156 to $117
  • ATHN: downgrade: equal weight to underweight: Barclays: pt cut from 4140 to $110
  • CLVS: downgrade: conviction buy to neutral: Goldman: pt cut from $123 to $23
  • CLVS: downgrade: buy to hold: WallachBeth: pt cut from $135 to $30
  • FIVE: downgrade: buy to neutral: Sterne Agee
  • URBN: downgrade: outperform to sector perform: RBC Capital: pt cut from $32 to $23
  • URBN: downgrade: outperform to market perform: Telsey Advisory: pt cut from $40 to $23
  • CHK: downgrade: buy to neutral: Sterne Agee
  • OSIR: downgrade: hold to sell: Brean Capital: $8
  • IMOS: downgrade: overweight to equal weight: Morgan Stanley
  • COO: downgrade: outperform to market perform: Wells Fargo

INITIATIONS:

  • EQT: initiated: neutral: Goldman: $73
  • MRNS: initiated: buy: Jefferies: $14
  • ACRX: initiated: buy: DA Davidson: $22

PRICE TARGET CHANGES:

  • CASY: pt raised from $111 to $122: RBC Capital
  • NUAN: pt raised from $25 to $30: Deutsche Bank
  • FANG: pt raised from $80 to $92: Roth Capital
  • NTGR: pt raised from $36 to $42: RBC Capital
  • SMTC: pt raised from $17 to $19: RBC Capital
  • URBN: pt cut from $20 to $20: Mizuho
  • URBN: pt cut from $30 to $22: Wunderlich
  • URBN: pt cut from; $32 to $29: FBR Capital
  • URBN: pt cut from $40 to $30: Stifel
  • CTRL: pt cut from $10 to $7.50: Imperial Capital
  • DDS: pt cut from $110 to $81: Telsey Advisory Group
  • ELGX: pt cut from $17 to $15: RBC Capital
  • WY: pt cut from $37 to $35: RBC Capital
  • NBL: pt cut from $47 to $46: RBC Capital
  • SUNE: pt cut from $28 to $16: Deutsche Bank
  • WSM: pt cut from $92 to $70: Wedbush
  • VRX: pt cut from $200 to $98: Morgan Stanley

 

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