Economic Data in Focus | Morning News

JUNE 01, 2015

As Greek debt worries pressure markets, US futures pushing modestly higher at this 7AM hour with mixed markets around the world and traders looking to a week packed with economic data starting today with key numbers on consumer spending and core inflation. Oil slipping ahead of the OPEC meeting scheduled for Friday.

NEWS:

  • V: MA: Visa and Mastercard to enter China, reports the FT
  • JUNO: phase 1 study of JCAR015 shows 87% of evaluable adult patients with ALL had complete remission
  • WYNN: LVS: MGM:MPEL:  Macau gaming down 37.1% in May
  • PRE: AXS: Shareholders to vote June 24 on PRE, AXS$13B merger, reuters reports
  • JD: JD.com has lunched “Japanese Mall” , new imported goods platform, reports the wall Street Journal

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Personal Income: consensus expectation +0.3%
  • 8:30AM: Consumer Spending: consensus expectation +0.2%
  • 8:30AM: Core Inflation: consensus expectation +0.2%
  • 10AM: ISM for MAY: consensus expectation 51.8%
  • 10AM: Construction Spending: consensus expectation +0.7%

NOTABLE EARNINGS AFTER TODAY’S CLOSE:

PVH, QUNR

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • C: upgrade: neutral to buy: Goldman: pt raised from $57 to $61
  • KO: upgrade: market perform to outperform: BMO Capital: $48
  • PKAR: upgrade: underperform to market perform: BMO Capital: $60
  • DUK: upgrade: market perform to outperform: Bernstein: $86
  • HCN: upgrade: hold to buy: Evercore:
  • BYD: upgrade: neutral to outperform: Credit Suisse: $18

DOWNGRADES:

  • JNPR: downgrade: neutral to sell: MKM Partners:
  • ESRX: downgrade: outperform to market perform: Raymond James:
  • ACAT: downgrade: outperform to market perform: BMO Capital: $25

INITIATIONS:

  • COLL: initiated: overweight: Piper: $26
  • COLL: initiated: buy: Jefferies: $20
  • CLCD: initiated: overweight: Piper: $21
  • CDCD: initiated: buy: Stifel: $15

PRICE TARGET CHANGES:

  • CLVS: pt raised from $100 to $103: Mizuho
  • TSRO: pt raised from $65 to $67: Mizuho
  • DGX: pt raised from $71 to $76: Mizuho
  • ONTY: pt raised from $2.50 to $5: Jefferies

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