FOMC focus | Morning News

SEPTEMBER 16, 2015

stock trading advice for beginnersDespite green arrows around the world, US futures tracking for a negative opening at this 7AM hour as traders remain cautious into the FOMC meeting which starts today with their statement expected tomorrow at 2PM EST. Overnight, crude futures rose as investors look to EIA Petroleum Inventories at 10:30AM.

NEWS:

  • FIT: Target offers Fitbits to U.S. employees
  • ILMN: Illumina announces collaboration with Memorial Sloan Kettering Cancer Center
  • TSLA: Porsche and Mercedes take on Tesla with plans for high end electric cars
  • NVAX: preclinical study on animals came in as a promising candidate for infant vaccination
  • STRZA: AMC Network in talks to buy Starz, reports Bloomberg
  • GOOG: GOOGL: Google does not intend to become a carmaker, reports reuters 
  • DJX: S&P downgrades Japan’s debt rating
  • BUD: Anheuser-Busch InBev has informed rival SABMiller that it intends to make an offer to acquire the British firm in a deal that would bring together the world’s two largest beer makers, reports SA
  • TWTR: Twitter hit with lawsuit for ‘eavesdropping’ on messages, reports rt

ON THE ECONOMIC CALENDAR:

  • FOMC meeting (Announcement tomorrow at 2PM EST)
  • 7AM: MBA Mortgage Applications
  • 8:30AM: Consumer Price Index
  • 10AM: NAHB Housing Market Index
  • 10:30AM: EIA Petroleum Inventories
  • 4PM: Treasury International Capital

EARNINGS REPORTED BEFORE THE OPENING: 

  • LITB: Q2 EPS of -$0.12 misses by $0.05: revenue of $79.45M misses by $0.27M: revenue -11.5% Y/Y

EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • INFI:FQ4 EPS of $0.72 in-line.Revenue of $2.06B in-line: revenue +17% Y/Y

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ZION: upgrade: neutral to buy: Goldman: $35
  • YNDX: upgrade: sell to neutral: Goldman: $14.20
  • FOLD: upgrade: neutral to buy: Chardan Capital: $17.50
  • LNKD: upgrade: sell to hold: Brean Capital: $184
  • ORCL: upgrade: neutral to buy: SunTrust

DOWNGRADES:

  • FMI: downgrade: outperform to market perform: Wells Fargo
  • PEB: downgrade: outperform to neutral: Cowen: pt cut from $53 to $41
  • CRI: downgrade: overweight to neutral: Piper Jaffray: pt cut from $116 to $105
  • SNDK: downgrade: buy to neutral: Goldman:pt cut from $73 to $55

INITIATE and REITERATE:

  • NTEC: initiated: buy: Maxim: $8
  • UNH: initiated: overweight: JP Morgan
  • MOH: initiated: neutral: JP Morgan: $84
  • HUM: initiated: overweight: JP Morgan
  • CI: initiated: overweight: JP Morgan: $175
  • AET: initiated: overweight: JP Morgan
  • BR: initiated: overweight: Barclays: $61
  • TMH: initiated: overweight: JP Morgan: $70
  • UHS: initiated: overweight: JP Morgan: $170
  • HAS: initiated: buy: Sterne Agee
  • AMZN: reiterates: overweight: Piper Jaffray: $650

PRICE TARGET CHANGES:

  • CMCSA: pt raised from $72 to &78: Wunderlich
  • AAPL: pt raised to $160: JMP Securities
  • MTDR: pt raised from $35 to $37: Wunderlich
  • CAPL: pt cut from $29 to $28: Wunderlich
  • TDW: pt cut from $34 to $20: Cowen
  • DBD: pt cut from $39 to $35: Imperial Capital
  • SYRG: pt cut from $16.50 to $14: Imperial Capital

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