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stock market newsSEPTEMBER 15, 2015

US futures struggling to find direction at this 7AM hour as traders turn their attention to retail sales data, due out at 8:30 this morning 0.3% reading expected while awaiting the key statement out of the FOMC on Thursday afternoon . Europe markets are bouncing between red and green after german economic sentiment falls and the eurozone trade surplus hits its highest levels since 2004. Overnight in Asia, the Shanghai fell another 3.5% pulling most of Asia lower.

NEWS:

  • SONC: Sonic reports softer FQ4 SSS growth, provides FY16 guidance, plans dividend hike
  • FB: Facebook to Build Virtual Reality Mobile App For 360-Degree, Spherical Videos, reports ibtimes
  • SLW: announces normal course issuer bid for 20.23M common shares, representing 5% of total common shares outstanding
  • PCTY: Paylocity announces filing to let holders sell 3.7M shares
  • SANM: announces $200M buyback program
  • PRXL: announces $200M buyback program
  • LNG: Icahn files, reports 9.59% state in Cheniere, up from 8.18%

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Retail Sales
  • 8:30AM: Empire State Manufacturing Survey
  • 8:55AM: Redbook Chain Store Sales
  • 9:15AM: Industrial Production
  • 10AM: Business Inventories

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • UNFI

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SONC: upgrade: sell to neutral: UBS:$30
  • TFM: upgrade: hold to buy: Jefferies: pt raised from $26 to $29
  • WHR: upgrade: outperform to top pick: RBC Capital
  • BUFF: upgrade: market perform to outperform: Wells Fargo: $28-29 pt range
  • CS: upgrade: buy to conviction buy: Goldman:
  • JWN: upgrade: hold to buy: Stifel: $84
  • PTXP: upgrade: hold to buy: Stifel: $20
  • WY: upgrade: neutral to buy:BofA/Merrill
  • KMB: upgrade: hold to buy: Deutsche Bank: $118

DOWNGRADES:

  • UBS: downgrade: buy to neutral: Goldman:
  • JOY: downgrade: buy to neutral: Axiom: $14
  • CONN: downgrade: buy to hold: Stifel
  • RPTP: downgrade: buy to neutral: Citi: $8

INITIATIONS:

  • FIT: initiated: overweight: Pacific Crest: $47
  • BRS: initiated: outperform: Oppenheimer:$52
  • ERA: initiated: outperform: Oppenheimer: $21
  • GLW: initiated: buy: Deutsche Bank: $21

PRICE TARGET CHANGES:

  • MYGN: pt raised from $32 to $38: Mizuho
  • MYGN: pt range raised from $36-38 to $49-51
  • TWX: pt cut from $108 to $107: Topeka Capital
  • AXP: pt cut from $99 to $95: Susquehanna
  • AEO: pt cut from $21 to $18: B Riley
  • ZUMZ: pt cut from $29 to $18: Susquehanna

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