Earnings | Morning News

StoryJULY 14, 2015

US futures holding the flatline and crude oil dropping to 3 month lows at this 7AM hour after an historic nuclear deal with Iran and six major powers was stuck overnight.  Traders turn their attention to earnings as the quarterly results step into high gear today. Retail sales and chain store sales data should also give the market some direction as they report this morning.

NEWS:

  • SBUX: Starbucks opening in South Africa by 2016
  • FB: Instagram now has 14 million users in the UK, reports businessinsider
  • FB: Facebook is working on a digital assistant named Moneypenny to help you find and buy products, reports businessinsider
  • AZN: FDA approves orphan drug IRESSA for lung cancer
  • VLO: announces plans to sell ethanol for exporting
  • VLO: announces an additional $2.5B stock buyback program
  • AAPL: Apple Pay launches in Britain with hiccups, reports reuters
  • BA: FDX:FedEx Said to Be in Talks on $5 Billion of Boeing 767 Freighters, reports bloomberg
  • ISIS:Isis Pharmaceuticals earns $2.15M milestone payment from Biogen, reports prnewswire
  • NAVI: cuts both its quarterly and full year EPS below analysts’ expectations

ON THE ECONOMIC CALENDAR:

  • 6AM: NFIB Small Business Optimism
  • 8:30AM: Retail Sales
  • 8:30AM: Import/Export Prices
  • 8:55AM: Redbook Chain Store Sales
  • 10AM: Business Inventories
  • 8:15PM: Fed’s George speaks on Monetary Policy and Economic Outlook

EARNINGS: 

  • JPM:Q2 EPS of $1.54 beats by $0.10.Revenue of $24.53B misses by $800M: tangible book value/share up 7% to $46.13
  • FAST: Q2 EPS of $0.48 beats by $0.01.Revenue of $997.83M misses by $12.17M: revenue +5.0% y/y
  • JNJ :Q2 EPS of $1.71 beats by $0.03.Revenue of $17.79B  beats by $30M
  • CBSH:Q2 EPS of $0.75 beats by $0.07.Revenue of $277.75M beats by $2.43M

SOME NOTABLE EARNINGS AFTER TODAY’S CLOSE:

  • YUM, PPHM, CSX, ADTN

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • GPRO: upgrade: equal weight to overweight: Barclays: pt raised from $50 to $65
  • BIIB: upgrade: hold to buy: BofA/Merrill: $466
  • AMZN: upgrade: neutral to buy: UBS: pt raised from $450 to $550
  • BWLD: upgrade: market perform to outperform: Raymond James: $195
  • CCL: upgrade: underperform to hold: Jefferies
  • URBN: upgrade: hold to buy: Jefferies: $50
  • WDAY: upgrade: hold to buy: Evercore:

DOWNGRADES:

  • OWW: downgrade: neutral to sell: UBS: $10
  • INTC: downgrade: market perform to underperform: Bernstein: pt cut from $29 to $25
  • ACN: downgrade: outperform to neutral: Baird: $110
  • PSX: downgrade: buy to neutral: Goldman
  • HOLX: downgrade: overweight to neutral: Piper Jaffray: $38

INITIATIONS:

  • MB: initiated: outperform: JMP Securities: $22
  • MB: initiated; overweight: Morgan Stanley: $16.50
  • TWC: initiated: buy: Deutsche Bank: $221
  • CHTR: initiated: buy: Deutsche Bank:
  • WRK: initiated: buy: Deutsche Bank: $74
  • BA: initiated: outperform: JP Morgan: $175
  • LMT: initiated: overweight: JP Morgan: $226
  • GD: initiated: overweight: JP Morgan: $169
  • TDG: initiated: overweight; JP Morgan: $275
  • OCUL: initiated: buy: BTIG: $65
  • FSLR: resumed: overweight: JP  Morgan: $68
  • SPWR: resumed: overweight; JP Morgan:
  • PIR: initiated: buy: Longbow

PRICE TARGET CHANGES:

  • MPC: pt raised from $62 to $67: RBC Capital
  • AMBA: pt raised from $115 to $120: Canaccord
  • CMCSA: pt raised from $64 to $70: Telsey
  • FANG: pt cut from $95 to $92: Topeka Capital
  • URI: pt cut from $124 to $110: RBC Capital
  • SAVE: pt cut from $74 to $65: Cowen

 

About the Author

Leave a Reply 0 comments

Leave a Reply: