Crude | Morning News

Stock Market Fighting to Hold October GainsDECEMBER 08.2015

US futures down sharply, extending yesterday losses, chasing red arrows around the world. The Shanghai lost almost 2% after China’s exports dropped for a fifth consecutive month in November. Overnight, commodities took a hit with crude trading below $38. 

NEWS:

  • LNG: Icahn boosts his stake again, this time from 12.7% to 13.8%
  • TEVA: EGRX: Teva Pharmaceuticals and Eagle Pharmaceuticals Announce FDA Approval of BENDEKA, reports businesswire
  • RIO:announces a second cut to planned capital spending in four months, slashing another $1.5B over two years
  • OUTR: cuts guidance on lower than expected revenue from its Redbox division: unit chief announces departure
  • CMG: new e coli after 30 Boston College students got sick after eating at a Chipotle restaurant over the weekend
  • HON: Honeywell And Pearlstone Energy To Provide Smart Grid Program To Help Boost U.K. Grid Stability, reports prnewswire
  • QCOM: European Commission sends two Statements of Objections on exclusivity payments and predatory pricing to Qualcomm
  • VRX: Valeant Pharmaceuticals is considering selling its gas permeable contact lens division, Paragon Vision Sciences, reuters reports

THE ECONOMIC CALENDAR:

  • 6AM: NFIB Small Business Optimism Index
  • 8:55AM: Redbook Chain Store Sales
  • 10AM: Job Openings and Labor Turnover Survey
  • 1PM: $13B, 3 Year Note Auction

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • GWPH: FQ4 EPS of -₤0.05: revenue of ₤5.59M: revenue -24.6%  y/y
  • UNFI: FQ1 EPS of $0.63 misses by $0.04.Revenue of $2.08B in-line: revenue +4.5% y/y:
  • CASY: FQ2 EPS of $2.00 beats by $0.50: revenue of $1.92B  misses by $30M: revenue -10.7% y/y
  • HRB: FQ2 EPS of -$0.54 misses by $0.06: revenue of $128.42M misses by $3.71M: revenue -4.6% y/y

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • TOL:FQ4 EPS of $0.80 misses by $0.03: revenue of $1.44B beats by $10M: revenue +6.7% y/y
  • PLCE:Q3 EPS of $1.93 beats by $0.01: revenue of $455.91M misses by $17.43M: revenue -6.4% y/y
  • AZO: FQ1 EPS of $8.29 beats by $0.05: revenue of $2.39B  in-line: revenue +5.8% y/y
  • CBK: Q3 EPS of -$0.01 in-line: revenue of $103.64M misses by $0.12M: revenue -6.3% y/y
  • HDS: Q3 EPS of $0.66 beats by $0.01: revenue of $2.01B misses by $20M: revenue+5.2% Y/Y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ABM, AVAV, COST, KKD, PLAY, SIGM, SWHC, TPLM

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ALE: upgrade: hold to buy: Wunderlich: pt raised from $54 to $55
  • LAMR: upgrade: hold to buy: Topeka Capital: pt raised from $60 to $73
  • FEYE: upgrade: neutral to buy: Citi: pt raised from $31 to $35
  • K: upgrade: underweight to equal weight: Morgan Stanley: $69
  • SKT: upgrade: neutral to buy: Goldman
  • HSY: upgrade: hold to buy: Stifel: $96
  • MTN: upgrade: neutral to buy: Goldman: $144
  • WBC: upgrade; hold to buy: Stifel: $122
  • FEIC: upgrade: neutral to buy: Goldman: pt raised from $72 to $94
  • TMO: upgrade: buy to conviction buy: Goldman: $44
  • A: upgrade: neutral to buy: Goldman: $48
  • UN: UL: upgrade: underperform to neutral: Credit Suisse:

DOWNGRADES:

  • WBMD: downgrade: top pick to outperform: RBC Capital: pt cut from $60 to $55
  • CTRP: downgrade: buy to hold: HSBC: $55
  • DF: downgrade: equal weight to underweight: Morgan Stanley: $17
  • DHR: downgrade: buy to neutral: Goldman: $103
  • LH: downgrade: conviction by to neutral: Goldman: pt cut from $142 to $126
  • PKI: downgrade: neutral to sell: Goldman: pt cut from $50 to $44
  • CG: downgrade: buy to neutral: BofA/Merrill
  • BX: downgrade: buy to neutral: BofA/Merrill
  • APO: downgrade: buy to neutral: BofA/Merrill
  • SPLS: downgrade: outperform to market perform: Telsey Advisory: pt cut from $23 to $12

INITIATIONS:

  • FCPT: initiated: outperform: Baird: $27
  • OUTR: resumed: buy: Roth Capital: pt raised from $61.50 to $80
  • INST: initiated: buy: Goldman: $25
  • INST: initiated: buy: Jefferies: $25
  • IVAC: initiated: outperform: Northland: $7
  • MESO: initiated: overweight; JP Morgan
  • MAR: initiated: buy: Barenberg: $90
  • HOT: initiated: buy: Barenberg: $91
  • HLT: initiated: hold: Barenberg: $25

PRICE TARGET CHANGES:

  • CASY: pt raised from #122 to $125: RBC Capital
  • CBU: pt raised from $38 to $40: RBC Capital
  • DD: pt raised from $72 to $80: Argus
  • TXMD: pt raised from $10 to $14: Stifel
  • FDS: pt raised from $175 to $189: Stifel
  • FSB: pt raised from $35 to $40: Compass Point
  • RHT: pt raised from $85 to $90: RBC Capital
  • SAVE: pt raised from $50 to $55: Cowen
  • UNFI: pt cut from $46 to $42: RBC Capital
  • FELP: pt cut from $7 to $5: FBR Capital
  • HHC: pt cut from $225 to $190: Compass Point
  • ODP: pt cut from $11 to $7.50: Telsey Advisory
  • UNFI: pt cut from $46 to $42: RBC Capital
  • OUTR: pt cut from $88 to $57: Piper Jaffray

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Leave a Reply 2 comments

bob Reply

good post –Pete-thnx—Oil–reeling –Saudi-s-better watch with they ask for –buy when blood in streets–re: big oil–in 5-6 countries act as the government –your CVX–XOM-they call shots –find good spots –81.00-CVX–start sm entries -10-20-30-etc shares long —

    Marian Boyle Reply

    Thanks Bob. Oil should be in play again today,

    Marian

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