FB earnings | Morning News

fbNOVEMBER 05. 2015

US futures off overnight lows, trading higher with European markets as traders await a new rash of earnings reports, a full economic calendar and a slew of Fed speeches today. Asian shares continued their climb higher, sending the Shanghai Composite Index into a bull market as government support underpinned a rebound from China’s $5T stock rout.

NEWS:

  • EXPE: AWAY: Expedia announces plans to acquire HomeAway in a $3.9B deal
  • ADSK: Achem Head Capital discloses a 5.7% stack in Autodesk
  • BMY:European Medicines Agency Validates Bristol-Myers Squibb’s Type II Variation Application for Opdivo in Previously Treated Advanced Renal Cell Carcinoma, reports yahoo finance
  • UAL: DAL: AAL: LUV: JBLU: HA: ALK:  US Airlines Expect 3% Increase in Passengers Over Thanksgiving Period, reports the wsj

ON THE ECONOMIC CALENDAR AND FED SPEECHES:

  • Various times: Chain Store Sales
  • 7:30AM: Challenger Job Cut Report
  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Gallup Good Jobs Rate
  • 8:30AM: Fed’s Dudley speaks
  • 8:30AM: Fed’s Harker speaks
  • 9:10AM: Fed’s Fischer speaks on panel discussion
  • 12:45PM: Fed’s Tarullo speaks
  • 12:45PM: Fed’s Lockhart speaks
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10:30AM: EIA Natural Gas Inventory
  • 4:30PM: Money Supply and Fed Balance Sheet

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • FB: Q3 EPS of $0.57 beats by $0.05: revenue of $4.5B beats by $130M: revenue +40.6% y/y: ad revenue +45% y/y: monthly active users soar over 1.5B: to launch “notify” app next week
  • QCOM: FQ4 EPS of $0.91 beats by $0.05: revenue of $5.45B beats by $240M: revenue -18.5% y/y: light guidance
  • FEYE:Q3 EPS of -$0.37 beats by $0.08.Revenue of $165.62M (+45.0% Y/Y) misses by $1.51M: mixed guidance
  • WFM:FQ4 EPS of $0.30 misses by $0.05.Revenue of $3.42B (+4.9% Y/Y) misses by $50M: announces new $1B share buyback program: guides revenue below consensus
  • SCSS:Q3 EPS of $0.62 beats by $0.22: revenue of $373.92M beats by $18.19M: revenue +15.6% y/y: reaffirms guidance
  • GPOR:Q3 EPS of -$0.08 beats by $0.10: revenue of $230.6M beats by $67.12M: revenue +35/0% y/y
  • CF:Q3 EPS of $0.39 misses by $0.34: revenue of $927.4M beats by $40.53M: revenue +0.7% y/y
  • HOLX:FQ4 EPS of $0.43 beats by $0.01: revenue of $702.8M beats by $10.68M: revenue +6.4% y/y: mixed guidance, sees Q1 below estimates, sees FY16 in-line
  • GDDY:Q3 EPS of -$0.04 beats by $0.03: revenue of $411.1M beats by $2.52M: revenue +15/2% y/y: in-line guidance
  • CTL:Q3 EPS of $0.70 beats by $0.02: revenue of $4.55B in-line: revenue +0.9% y/y: weak guidance
  • TUMI:Q3 EPS of $0.22 beats by $0.01: revenue of $131.1M misses by $4.5M: revenue +0.7% y/y: lowers guidance
  • MSI:Q3 EPS of $0.82 beats by $0.09: revenue of $1.42B beats by $10M: revenue -1.4% y/y: guides below consensus
  • SSYS:Q3 EPS of $0.01 misses by $0.01: revenue of $167.58M misses by $4.62M: revenue -17.7% y/y: guides lower
  • AHS:Q3 EPS of $0.48 beats by $0.14: revenue of $382.86M beats by $19.96M: revenue +44.7% y/y: guides revenue above consensus

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • AMED: Q3 EPS of $0.34 beats by $0.01: revenue of $326.45M beats by $14.23M: revenue +8.7% y/y
  • ENDP:Q3 EPS of $1.02 beats by $0.03: revenue of $745.73M beats by $9.57M: revenue +14.0% y/y
  • CELG:Q3 EPS of $1.23 beats by $0.01: revenue of $2.33B misses by $70M: revenue +17.7% y/y
  • HFC:Q3 EPS of $1.82 beats by $0.10: revenue of $3.56B beats by $260M: revenue -33.1% y/y
  • DNR:Q3 EPS of $0.18 beats by $0.05: revenue of $303.6M misses by $83.63M: revenue -52.4% y/y
  • PWR:Q3 EPS of $0.30 beats by $0.01: revenue of $1.94B in-line: revenue -9.8% y/y
  • CROX:Q3 Adj. net Income of $19.2M: revenue of $274.09M misses by $2.83M; revenue -9.4% y/y
  • DUK:Q3 EPS of $1.47 misses by $0.05: revenue of $6.5B misses by $370M: revenue +1.6% y/y
  • KATE:Q3 EPS of $0.06 beats by $0.02:revenue of $277.33M misses by $2.69M: revenue +10.7% y/y
  • WIN:Q3 EPS of -$0.08 beats by $0.26: revenue of $1.5B beats by $30M: revenue +3.4% y/y
  • AES:Q3 EPS of $0.39 beats by $0.03: revenue of $3.72B misses by $1.57B: revenue -16.2% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ACAD, ACET, ACHN, AEGR, AGO, AHS, BBG, BBRG, BCEI, BEBE, BLDR, BPI, BRKS, BRS, CALD, CBI, CERS, CLNE, CLVS, CTCT, CUBE, CYBR, CYTX, DATA, DIOD, DIS, DMD, DWA, EAC, EBS, ED, EFC, EGN, EGOV, ELON, EOG, GDOT, GERN, GLUU, GSAT, GSM, GST, GXP, HAIN, HBM, HE, HK, HNSN, HTGC, ICUI, INAP, INFI, INWK, IRG, JJSF, KHC, LNT, MAIN, MASI, MDRX, MDVN, MED, MHK, MITK, MNST, MRC, MTD, NVDA, OLED, ONTY, OREX, OUT, PCTY, PETX, PKI, PLT, PRO, PXLW, QRVO, RATE, RBA, RLYP, RMAX, RPTP, SHAK, SKUL, SLH, SWKS, TCRD, TCX, TEAR, TNGO, TRIP, TRMR, TRQ, TRUE, TTWO, WAGE, WG, WIFI, WTW, XOMA, YUME

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ISIS: upgrade: neutral to overweight: Piper Jaffray: pt raised from $64 to $80
  • AMGN: upgrade: neutral to overweight: Piper Jaffray:
  • BIIB: upgrade: neutral to overweight: Piper Jaffray:
  • GILD: upgrade: neutral to overweight: Piper Jaffray:

DOWNGRADES:

  • BKU: downgrade: overweight to equal weight: Barclays
  • FEYE: downgrade: outperform to market perform: Wells Fargo: pt range cut from $56-59 to $22-25
  • FEYE: removed from Focus list at JP Morgan: pt cut to $30
  • FEYE: downgrade: outperform to market perform: FBR Capital: $28
  • ORCL: downgrade: outperform to market perform: FBR Capital: $44
  • SPNS: downgrade: buy to neutral: Roth Capital: $12
  • UNFI: downgrade: overweight to neutral: Piper Jaffray: pt cut from $56 to $50
  • VET: downgrade: neutral to sell: Goldman
  • AVG: downgrade: overweight to neutral: Goldman
  • BLMN: downgrade: overweight to equal weight; Morgan Stanley: pt cut from $25 to $19
  • TXRH: downgrade: equal weight to underweight: Morgan Stanley: $32
  • TWX: downgrade: buy to neutral: BofA/Merrill
  • ALLE: downgrade: outperform to in-line: Imperial Capital: $68
  • KND: downgrade: outperform to market perform: Wells Fargo:
  • TWX: downgrade: outperform to market perform: Wells Fargo:

INITIATIONS:

  • RLYP: initiated: buy: Guggenheim Securities: $46

PRICE TARGET CHANGES:

  • FB: pt raised from $118 to $125: FBR Capital
  • FB: pt raised from $146 to $155: Piper Jaffray
  • FB: pt raised from $107 to $125: Mizuho
  • FB: pt raised from $120 to $126: Axiom Capital
  • FB: pt raised from $127 to $134: Pivotal Research
  • REGN: pt raised from $565 to $635: UBS
  • OAS: pt raised from $13 to $15: Wunderlich
  • DEI: pt raised from $33 to $36: Mizuho
  • FANG: pt raised from $83 to $94: Northland Capital
  • CDW: pt raised from $46 to $51: RBC Capital
  • WFM: pt cut from $23 to $20: Pivotal Research
  • WFM: pt cut from $34 to $30: Telsey Advisory
  • TWX; pt cut from $105 to $95: Wunderlich
  • TWX: pt cut from $91 to $79: FBR Capital
  • QCOM: pt cut from $68 to $64: Mizuho
  • QCOM; pt cut from $65 to $61: Topeka Capital
  • QCOM: pt cut from $72 to $69: Cowen
  • CLH: pt cut from $62.50 to $57.50: Imperial Capital
  • OSUR: pt cut from $12 to $8: Mizuho
  • LMCA: pt cut from $53 to $52: FBR Capital
  • HSNI: pt cut from $85 to $72: Wunderlich

 

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