All Eyes on Jobs | Morning News

MAY 8, 2015

US futures holding positive at this 7AM hour as traders turn their focus to the ever important jobs number due out at 8:30AM. Overseas, Asian stocks regained some of their losses, even after China’s exports fell 6.4% in April,  on hopes for more stimulus in China.

 

NEWS:

  • NOK: Uber bids up to $3B for Nokia’s mapping/navigation software unit
  • MSFT: CRM: Microsoft has no plans to pursue Salesforce.com, reports reuters
  • NKE: Obama to use Nike HQ as a stage for promoting TPP trade treaty. The rumor mill is looking for NKE to make some sort of announcement, reports the lattices
  • SYT: MON: Syngenta rejects Monsanto takeover offer, reports reuters
  • EWA: Australia lowers its growth forecast
  • FANG: files secondary 3M shares
  • WMT: acquires 13 Target Stores in Canada
  • NVS: Zykadia approved in Europe for lung cancer
  • BABA: Normura out positive on Alibaba: $137
  • SU: GTE: PWE: Alberta’s provincial election results weighing heavily on Canadian oil producers

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Non-farm payrolls: expectation 228K ( less that 200K would raise concerns for the US economic health in light of the appalling jobs number in March)
  • 8:30AM: Unemployment rate: expectation 5.4%
  • 10AM: Wholesale Trade

EARNINGS:

  • AOL: Q1 EPS of $0.34 beats by $0.02: Revenue of $625.1M beats by $30.53M: conference call 8AM EST
  • SIRO:FQ2 EPS of $0.76 beats by $0.01.Revenue of $257.3M (-9.0% Y/Y) misses by $6.46M: conference call 8:30AM EST
  • AMRN:Q1 EPS of -$0.16 misses by $0.05.Revenue of $15.93M (+45.2% Y/Y) misses by $6.33M: weak Q1 Vascepa sales: conference call 8AM EST
  • JD: Q1 EPS of -$0.02 misses  by $0.02; Revenue of RMB36.64B beats by RMB990M: conference call 7:30AM EST
  • BCRX:Q1 EPS of -$0.21 beats by $0.04.Revenue of $6.83M (+97.4% Y/Y) beats by $2.53M
  • BITA: Q1 ESP of -$0.05 misses by $0.05: revenue of #113.1M beats by $8.18M:conference call 8AM EST

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • DATA: Q1 EPS of $0.08 beats by $0.11.Revenue of $130.15M (+74.6% Y/Y) beats by $14.85M: strong guidance
  • SFM:Q1 EPS of $0.25 misses by $0.01.Revenue of $857.51M (+18.7% Y/Y) misses by $5.39M: guidance FY15 weak
  • NUAN: FQ2 EPS of $0.30 beats by $0.06.Revenue of $488.06M (-0.4% Y/Y) beats by $7.06M: increases buyback announces: guidance mixed
  • NICE: Q1 EPS of $0.72 beats by $0.03.Revenue of $246.11M (+7.5% Y/Y) beats by $2.2M: announces $100M buyback: in-line guidance
  • NVDA:Q1 EPS of $0.33 beats by $0.07.Revenue of $1.15B (+4.5% Y/Y) misses by $10M: soft guidance: raises dividend by 15%
  • MDVN: Q1 EPS of $0.17 misses by $0.10.Revenue of $129.19M (+48.2% Y/Y) misses by $19.84M
  • XOMA: Q1 EPS of -$0.19 misses by $0.03.Revenue of $2.65M (-22.3% Y/Y) misses by $1.66M
  • CERN:Q1 EPS of $0.45 in-line.Revenue of $996.08M (+26.9% Y/Y) misses by $93.92M
  • JAZZ:Q1 EPS of $1.99 misses by $0.15.Revenue of $309.3M (+25.3% Y/Y) beats by $0.38M
  • MNST:Q1 EPS of $0.62 misses by $0.06.Revenue of $626.79M (+16.9% Y/Y) beats by $25.59M
  • CYBR:Q1 EPS of $0.16 beats by $0.11.Revenue of $32.9M (+89.2% Y/Y) beats by $6.2M: strong guidance

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • COH: upgrade; hold to buy: HSBC: $46
  • RYN: upgrade: neutral to buy: DA Davidson: $31.50
  • SPWR: upgrade; perform to outperform: RBC Capital: 435
  • SPWR: upgrade; perform to outperform: Credit Suisse: $36
  • MRO: upgrade; market perform to outperform: Wells Fargo
  • AERI: upgrade: hold to buy: Cantor: $15
  • BABA: upgrade; neutral to buy: Goldman: $98
  • GGP: upgrade: sector perform to outperform: RBC Capital: pt raised from $31 to $32

DOWNGRADES:

  • DO: downgrade: market perform to underperform: FBR Capital: $24
  • MNST: downgrade: conviction buy to neutral: Goldman: $150 (double downgrade)

INITIATIONS:

  • WHR: initiated: outperform: RBC Capital: $210
  • ACT: initiated: buy: Mizuho: $358

PRICE TARGET CHANGES:

  • REGN: pt raised from $474 to $537: Citigroup
  • REGN: pt raised from $450 to $507: Deutsche Bank
  • NICE: pt raised from $57 to $68: RBC Capital
  • AERI: pt raised from $12 to $15: Cantor
  • MDVN: pt raised from $130 to $142: UBS
  • DATA: pt raised from $109 to $119: UBS
  • DATA: pt raised from $110 to $125: Brean Capital

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