Earnings | Morning News

stock market newsJULY 31, 2015

US futures struggling at the flatline at this 7AM hour after markets around the globe trade mixed. Traders look to earnings and data on consumer sentiment as well as Chicago PMI numbers on this last trading day of the month.  Enter Greek Drama Part 2, as Puerto Rico is set to default on $58B payment this weekend. Crude futures pulled back overnight as news of solid US GDP data strengthened the dollar, with the commodity set to post its worst monthly showing of the year. Gold losing ground as it puts in its worst monthly loss since 2011.

NEWS:

  • JUNO: FDA approves IND application from Juno Therapeutics for its lead product candidate, JCAR015
  • AAPL:Samsung can halt Smartflash patent infringement trial, reports reuters
  • FB: Facebook introduces “Aquila”, its solar powered drone, which can beam data at 10Gb/s using laser beams, reports forbes
  • GOOG: GOOGL:Google Partners With Privacy-Centric Smartphone Maker, reports wsj
  • CCE: Coca-Cola Enterprises in Advanced Talks About Combining With Other Coke Bottlers, reports the wsj
  • LNKD: JP Morgan out positive on the stock on the pullback, giving it a $300 pt
  • BOOT: announces plans to sell 5.5M shares for holders
  • BEAV: announces share repurchase plans
  • GSAT: files automatic mixed securities shelf

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Employment Cost Index
  • 9:45AM: Chicago PMI
  • 10AM: Reuters/UofM Consumer Sentiment

EARNINGS:

  • FIG: Q2 EPS of $0.30 beats by $0.09: revenue of $308M beats by $24.68M
  • TYC: FQ3 EPS of $0.59 beats by $0.03: revenue of $2.49B misses by $30M: revenue -6.4% Y/Y: narrows FY15 EPS to $2.23-2.25 from $2.23-2.27 vs. consensus $2.23
  • IMGN: FQ4 EPS of -$0.35 in-line.Revenue of $12.61M misses by $2.81M
  • NWL: Q2 EPS of $0.64 beats by $0.02.Revenue of $1.56B beats by $20M
  • AON: Q2 EPS of $1.31 beats by $0.02.Revenue of $2.81B misses by $140M

RECAP OF SOME NOTABLE EARNINGS AFTER THE CLOSE:

  • LNKD: Q2 EPS of $0.55 beats by $0.25.Revenue of $711.7M (+33.3% Y/Y) beats by $31.9M: guides higher, raises FY15 EPS to $2.19 vs. consensus $1.93:
  • AMGN :Q2 EPS of $2.57 beats by $0.14.Revenue of $5.37B (+3.7% Y/Y) beats by $50M: raises both EPS and revenue guidance
  • EA: Q1 EPS of $0.15 beats by $0.12.Revenue of $693M (-10.6% Y/Y) beats by $40.96M: raises guidance in-line with estimates
  • FEYE: Q2 EPS of -$0.41 beats by $0.07.Revenue of $147.21M (+55.8% Y/Y) beats by $4.03M: solid  guidance: CFO leaving
  • FLR: Q2 EPS of $1.00 misses by $0.05.Revenue of $4.8B (-8.6% Y/Y) misses by $210M: lowers FY15 guidance
  • EXPE:Q2 EPS of $0.89 beats by $0.05.Revenue of $1.66B (+11.4% Y/Y) in-line
  • KLAC: Q4 EPS of $0.99 beats by $0.08.Revenue of $756M (+2.9% Y/Y) beats by $4.28M
  • HBI: Q2 EPS of $0.50 in-line.Revenue of $1.52B (+13.4% Y/Y) misses by $40M: cuts revenue guidance
  • TPX:Q2 EPS of $0.53 beats by $0.08.Revenue of $764.4M (+6.9% Y/Y) beats by $11.32M: raises guidance in-line with estimates
  • DECK: FQ1 EPS of -$1.43 beats by $0.06.Revenue of $213.81M (+1.1% Y/Y) beats by $0.31M: FY15 guidance above expectation
  • SYNA: FQ4 EPS of $1.57 misses by $0.09.Revenue of $478.93M (+52.1% Y/Y) misses by $3.8M: soft guidance
  • SKYW: Q2 EPS of $0.61 beats by $0.35.Revenue of $788.42M (-3.4% Y/Y) beats by $23.07M
  • OCN: Q2 EPS of $0.08 misses by $0.12.Revenue of $463M (-16.3% Y/Y) misses by $0.52M: announces plans to cut expenses

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SSYS: upgrade: neutral to overweight: Piper Jaffray: NOTE: pt cut from $42 to $39
  • WU: upgrade: underweight to equal weight: Barclays
  • NSM: upgrade: underperform to market perform: FBR Capital: pt raised from $15 to $19
  • GPRO: upgrade: neutral to buy: Citigroup:
  • MOH: upgrade: hold to buy: Stifel
  • SKYW: upgrade: hold to buy: Evercore

DOWNGRADES:

  • LNKD: downgrade: buy to hold: Evercore: $220
  • HST: downgrade: buy to neutral: Credit Suisse: pt cut from $23 to $22
  • MUR: downgrade: outperform to market perform: BMO Capital:
  • OCN: downgrade: buy to neutral: Sterne Agee
  • RRC: downgrade: buy to neutral: Guggenheim:
  • WLL: downgrade: buy to neutral: Guggenheim
  • URBN: downgrade: outperform to market perform: BMO Capital: $30
  • Z: downgrade: market perform to underperform: Cowen: pt from $90 to $60

INITIATIONS:

  • ONDK: initiated: buy: Canaccord

PRICE TARGET CHANGES:

  • CSH: pt raised from $22 to $26: FBR Capital
  • LNKD: pt raised from $245 to $260: Cantor
  • WWWW: pt raised from $25 to $32: FBR Capital
  • UNS: pt raised from $162 to $166: Mizuho
  • ALXN: pt raised from $213 to $221: Brean Capital
  • EXPE: pt raised from $130 to $140: FBR Capital
  • KLAC: pt cut from $62 to $51: RBC Capital
  • KLAC: pt cut from $64 to $60: Cowen
  • ROVI: pt cut from $27 to $23: JP Morgan
  • ROVI: pt cut from $29 to $26: Piper Jaffray
  • WFM: pt cut from $65 to $53: Imperial Capital
  • NE: pt cut from $22 to $18: Cowen
  • SYNA: pt cut from $115 to $105: Mizuho
  • WYNN: pt cut from $136 to $128: Brean Capital
  • FLR: pt cut from $67 to $62: Cowen
  • BRCM: pt cut from $60 to $55: Topeka Capital Markets
  • KATE: pt cut from $40 to $30: Mizuho
  • KORS: pt cut from $50 to $45: Mizuho
  • COH: pt cut from $42 to $34: Mizuho

 

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arthur levine Reply

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    Pete Renzulli Reply

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