FIT | Morning News

BullVsBearAUGUST 03.2015

US markets poised to open flat on this first trading day of the month with investors awaiting both PMI and ISM manufacturing  date. Overnight,  the Shanghai fell 1.1% after weak factory activity data sent Asian shares into the red. In spite of a plunge in Greek equities, Europe remains mostly in the green at this hour. Oil took another hit as the commodity is weakened by a rise in the number of US oil rigs and the continued concerns over a supply glut after the Iranian oil minister noted that the country can increase oil production one week after sanctions are lifted.

 

NEWS:

  • NKE: WWW: SKX: VFC: Outdoor footwear dollar sales grew 17 percent in the 12 months ending June 2015, reports ndp
  • WYNN: LVS: MPEL: MGM: Macau July casino revenue -34.5%
  • MBLY: chosen by Volkswagen to its Strategic Supplies List, reports Morgan Stanley
  • TSLA: Elon Musk tweets: “Almost ready to release highway autosteer and parallel autopark software update”
  • LNKD: LinkedIn Starts Building a Syndicated Content Network, reports re/code
  • FB: Facebook Debuts New Live Event Stream at Lollapalooza, reports the wsj
  • BA: Iran announces plans to buy up to 90 planes a year from Boeing and Airbus
  • YHOO: Yahoo to buy social shopping site Polyvore, reports the wsj
  • LOW: announces opening of first Manhattan location
  • ISIS: AZN: AstraZeneca, Isis Pharma Join To Discover And Develop Antisense Drugs, reports nasdaq

ON THE ECONOMIC CALENDAR:

  • Various times: Auto Sales
  • 8:30AM: Personal Income and Outlays
  • 8:30AM: Gallup US Consumer Spending Measure
  • 9:45AM: PMI Manufacturing Index
  • 10AM: ISM Manufacturing Index
  • 10AM: Construction Spending

EARNINGS REPORTED BEFORE THE OPENING: 

  • GWR: Q2 EPS of $0.93 beats by $0.02: revenue of $542.2M misses by $1.45M: revenue +30.8% Y/Y
  • NEE: Q2 EPS of $1.56 beats by $0.06: revenue of $4.36B beats by $120M: revenue +8.2% Y/Y: guides higher, raises FY16 EPS to $5.85-6.35 from $5.75-6.25 vs.  consensus $6.07
  • TSN: FQ3 EPS of $0.80 misses by $0.12: revenue of $10.07B misses by $230M: revenue +4.0% Y/Y: guides lower, lowers FY15 EPS to $3.10-3.20 from $3.30-3.40
  • NBL: Q2 EPS of $0.26 beats by $0.20: revenue of $730M misses by $159.74M: revenue -47.1% Y/Y
  • DO: Q2 EPS of $0.66 beats by $0.19: revenue of $634M beats by $28.63M: revenue -8.4% Y/Y:
  • CDW: Q2 EPS of $0.81 beats by $0.11: revenue of $3.31B beats by $70M: revenue +6.4% Y/Y
  • BWP: Q2 EPS of $0.16 misses by $0.02: revenue of $298.6M beats by $13.97M: revenue +1.8% Y/Y:

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • AIG, ALDW, ALJ, ALL, ANH, APU, BKD, BMRN, BNFT, CAR, CGNX, CHGG, CKP, CTRP, CYH, DAC, DK, DKL ENH, EXP, FIVN, GGP, HIL INN, KAR, KBR, KONA, LLNW, LMNX, MDU, MDWD, MIC, MRC, NLS, NVGS, OHI, ONDK, PLOW, PPS, QEP, QLYS, RBC, RSPP, RTEC, SGMS, THC, TNET, TSRA, UGI, VECO, VNO, VNR, WSTC, XL

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • WDMD: upgrade: neutral to buy: SunTrust
  • WLL: upgrade: hold to buy: Canaccord
  • NVDA: upgrade: neutral to outpeform: Macquarie: $24
  • STAY: upgrade: neutral to outperform: Baird: $23

DOWNGRADES:

  • RLGY: downgrade: conviction buy to neutral: Goldman: pt cut from $57 to $47
  • COH: downgrade: overweight to neutral: JP Morgan: pt cut from $47 to $30
  • IMGN: downgrade: buy to hold: Cantor: NOTE: pt raised from $12 to $21
  • LINE: downgrade: outperform to sector perform: RBC Capital: pt cut from $15 to $5
  • LNCO: downgrade: outperform to sector perform: RBC Capital: pt cut from $14 to $5
  • SANM: downgrade: buy to neutral: Goldman: $23

INITIATIONS:

  • TRVN: initiated: buy: Brean Capital: $14
  • LITE: initiated: buy: Stifel: $28
  • TXN: coverage resumed: RBC Capital: $60

PRICE TARGET CHANGES:

  • NTRI: pt raised from $21 to $25: Imperial Capital
  • RCL: pt raised from $85 to $99: SunTrust
  • TWC: pt raise from $196 to $200: RBC Capital
  • HIG: pt raised from $47 to $53: FBR Capital
  • NWL: pt raised from $45 to $48: RBC Capital
  • LPNT: pt raised from $91 to $93: Mizuho
  • LPNT: pt raised from $94 to $107: RBC Capital
  • DIS: pt raised from $120 to $130: Stifel
  • DIS: pt raised from $120 to $130: RBC Capital
  • SKYW: pt raised from $16 to $18: Imperial Capital
  • SPNT: pt raised from $91 to $93: Mizuho
  • HRTX: pt raised from $40 to $45: Brean Capital
  • STX: pt raised from $51 to $54: RBC Capital
  • KORS: pt cut from $44 to $38:Piper Jaffray
  • OSK: pt cut from $50 to $42: RBC Capital
  • SPN: pt cut from $29 to $20: Cowen
  • STX: pt cut from $83 to $65: Brean Capital

 

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