FB | Morning News

SPY Bulls Surprise Stock TradersOCTOBER 09, 2015

US futures trading around the flat line at this 8AM hour as global markets trade in the green after Fed minutes solidify the speculation that an interest rate hike will be on hold at least until the end of the year, although all ears will be on two speeches by Fed members today at 9:15AM EST and 1:30PM EST, both voting members. Meanwhile, crude finding another leg up as it passes the crucial $50 mark as rumors advance of the possibility of collaboration among the major oil producers.

NEWS:

  • QCOM: XLNX: Qualcomm partnering with Xilinx to pair Qualcomm server with Xilinx FPGAs
  • AMZN:Amazon Launches AWS IoT — A Platform For Building, Managing And Analyzing The Internet Of Things, reports techcrunch
  • JNJ: announces launch of clinical trial of Ebola vaccine
  • AZN: halts two clinical trials for lung cancer drug
  • ASNA: Golden Gate files new 9% stake in Ascena Retail
  • AGN: Allergan announces FDA accepted sNDA for DALVANCE
  • AAPL: TSLA: Elon Musk goes on record saying that Apple hired the engineers that Tesla fired

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Import/Export Prices
  • 9:15AM: Fed’s Lockhart speaks on “Monetary Policy” (voting member)
  • 10AM: Wholesale Trade
  • 1:30PM: Fed’s Evans speaks on “US Economy and Monetary Policy” (voting member)

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • AA:Q2 EPS of $0.07 misses by $0.07: revenue of $5.57B misses by $110M: revenue -10.7% Y/Y:
  • HELE:FQ2 EPS of $1.12 beats by $0.19: revenue of $369.13M beats by $31.46M: revenue +15.4% Y/Y: narrows guidance above consensus
  • RT:FQ1 EPS of -$0.03 misses by $0.08: revenue of $279.48M beats by $0.5M: revenue -0.6% Y/Y: reaffirms guidance

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • LLY: upgrade: neutral to outperform: Credit Suisse: pt raised from $89 to $105
  • ALB: upgrade: buy to conviction buy: Goldman
  • CSLT: upgrade: equal weight to overweight: First Analysis: $8
  • ABB: upgrade: underperform to hold: Jefferies
  • WY: upgrade: sell to neutral: UBS
  • FEYE: upgrade: sell to hold: Gabelli
  • NLY: upgrade: underperform to market perform: FBR Capital: pt raised from $10 to $11

DOWNGRADES:

  • TSLA: downgrade: equal weight to underweight: Barclays: pt cut from $190 to $180
  • GPS: downgrade: buy to neutral: MKM Partners: pt cut from $40 to $29
  • BMR: downgrade: outperform to neutral: Baird: $24
  • ZUMZ: downgrade: buy to hold: Stifel:

INITIATIONS:

  • CIEN: initiated: equal weight: Morgan Stanley: $25
  • EW: initiated: outperform: Cowen: $185
  • FOXA: initiated: overweight: Pacific Crest: $32
  • ENDO: initiated: buy: Mizuho: $82
  • JBL: initiated: buy: B Riley:
  • FLEX: initiated: buy: B Riley: $14
  • AGN: initiated: buy: Mizuho: $337
  • HZNP: initiated: buy: Mizuho: $32
  • CVU: initiated: buy: Canaccord: $12

PRICE TARGET CHANGES:

  • MU: pt raised from $16 to $18: Mizuho
  • NFLX: pt raised from $122 to $140: Pacific Crest
  • FB: pt raised from $110 to $115: Credit Suisse
  • TSN: pt raised from $47 to $51: RBC Capital
  • LB: pt raised from $104 to $110: Telsey Advisory Group
  • EXPE: pt raised from $126 to $145: UBS
  • GPN: pt raised from $106 to $123″ Stephens
  • AA: pt raised from $12 to $14: RBC Capital
  • ABT: pt cut from $55 to $51: RBC Capital
  • WCC: pt cut from $68 to $48: Susquehanna
  • CY: pt cut from $16 to $13: Topeka Capital
  • PII: pt cu from $158 to $153: RBC Capital

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