GDP | Morning News

bf7a8642ed6650dc284af1018e68763cUS futures hovering around the flat line at this hour overnight global markets traded mixed and investors await some fresh reads on US economic growth and data, ahead of the holidays at the end of the week.

NEWS:

  • GE: GE to sell part of stake in South Korean JV to Hyundai Motor, Kia Motors, reports reuters
  • FB:China will stop ignoring Facebook’s friend request, reports reuters
  • BHP: Death toll from BHP’s dam burst rises
  • TSLA: SCTY:Elon Musk’s SpaceX Completes Historic Rocket Landing, reports the wsj
  • ESRX: guides stronger for 2016
  • CMG: additional e. coli cases linked to Chipotle
  • SPY: Fed’s Lockhart could see rate hikes at every other meeting

THE ECONOMIC CALENDAR:

  • 8:30AM: GDP Q3
  • 8:30AM: Corporate Profits
  • 8:55AM: Redbook Chain Store Sales
  • 9AM: FHFA House Price Index
  • 10AM: Richmond Fed Manufacturing Index
  • 10AM: Existing Home Sales

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • SCS:FQ3 EPS of $0.30 misses by $0.02: revenue of $787.6M misses by $25.35M: revenue -1.6% y/y
  • CTAS:FQ2 EPS of $1.03 beats by $0.03: revenue of $1.22B beats by $10M: revenue +8.9% y/y

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • CAG:FQ2 EPS of $0.71 beats by $0.11: revenue of $3.09B misses by $250M: revenue -1.6% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • CAMP, MU, NKE

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • SAVE: upgrade; hold to buy: Stifel: $60
  • FL: upgrade; underperform to neutral: BofA/Merrill: pt raised from $60 to $70
  • FINL: upgrade: underperform to buy: BofA/Merrill: pt raised from $19 to $22
  • SYT: upgrade: hold to buy: Jefferies: pt raised from $66 to $88
  • SERV: upgrade: sector perform to outperform: RBC Capital: pt raised from $39 to $44

DOWNGRADES:

  • CMG: downgrade: overweight to neutral: JP Morgan: pt cut from $630 to $555
  • WLL: downgrade: outperform to market perform: BMO Capital
  • EGN: downgrade: outperform to market perform: BMO Capital
  • NTAP: downgrade: outperform to sector perform: RBC Capital: pt cut from $38 to $28
  • ALK: downgrade: buy to hold: Stifel
  • CTLT: downgrade: outperform to market perform: Wells Fargo
  • SCSS: downgrade: overweight to neutral: Piper Jaffray: pt cut from $27 to $22
  • IHS: downgrade: outperform to sector perform: RBC Capital: pt cut from $135 to $130

INITIATIONS:

  • RES: initiated: buy: Guggenheim: $18
  • QRS: initiated: overweight: JP Morgan: $48
  • CNO: initiated: outperform: Raymond James: $20.50
  • DFS: initiated: hold: Evercore
  • DFS: initiated: outperform: JMP Securities
  • BOX: initiated; outperform: JMP Securities: $18
  • CYBR: initiated: hold: Evercore:
  • ETSY: initiated: sell: Roth Capital: $5.75
  • CONE: initiated: overweight: JP Morgan: $41
  • OA: initiated: buy: CL King: $102
  • SRNE: initiated: outperform: FBR Capital: $22
  • BOTA: initiated: outperform: FBR Capital: $6
  • ARAY: initiated: sector perform: RBC Capital: $8
  • VAR: initiated: sector perform: RBC Capital: $86

PRICE TARGET CHANGES:

  • BBRY: pt raised from $7 to $9: Imperial Capital
  • JBL: pt raised from $26 to $28: Argus
  • CTAS: pt raised from $88 to $94: RBC Capital
  • SEAS: pt raised from $21 to $27: FBR Capital
  • W: pt raised from $46 to $51: Citi
  • AA: pt cut from $15 to $14: Stifel
  • AAPL: pt cut from $135 to $130: Cowen
  • HPT: pt cut from $28 to $27: RBC Capital
  • OKS: pt cut from $28 to $32: RBC Capital
  • DRNA: pt cut from $24 to $20: Leerink

 

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