Good Morning Wall Street, Thursday, March 26, 2015

US futures down sharply at this 6AM hour following Europe into the red after yesterday’s plunge saw the market slip into the negative for the year. Gold prices jumped overnight, after clearing an important level, as traders shun riskier assets amid a selloff in stocks and increased Middle East tension.  Crude prices soared in overnight trading after reports of Saudi Arabian airstrikes in Yemen raised new concerns of supply disruptions.


  • LULU earnings:  Q4 EPS of $0.78 beats by $0.05.Revenue of $602.5M (+15.6% Y/Y) in-line: guide lower for FY15 EPS $1.85-$1.90, consensus $2.06: guides lower for Q1 EPS 31c-33c, consensus 39c
  • ACN:FQ2 EPS of $1.08 beats by $0.01.Revenue of $7.5B (+5.2% Y/Y) beats by $120M.: guides for Q3 revenue $7.35B-$7.6B, consensus $7.63B: guides for FY15 adjusted EPS to $4.66-$4.76, consensus $4.75
  • CAG: FQ3 EPS of $0.59 beats by $0.07.Revenue of $3.88B (-1.8% Y/Y) beats by $10M: guidance raised FY15 adjusted EPS view to $2.15-$2.19 from $2.13-$2.18
  • SIG: Q4 EPS of $2.84 misses by $0.20.Revenue of $2.28B (+46.2% Y/Y) misses by $40M :Guidance: FQ1 same-store sales forecast to increase 3.0% to 4.0%. EPS seen at $1.42-$1.49 vs. $1.61 consensus
  • OTIV: Q4 EPS of -$0.08 in-line.Revenue of $5.5M (-11.7% Y/Y) beats by $1.3M


  • 4:35AM: Fed’s Bullard: US Economy and Monetary Policy
  • 8:30AM: Initial Jobless Claims: forecast 290K
  • 9AM: Fed’s Lockhart: US Economy and Monetary Policy
  • 9:45AM: PMI: Services Index Flash
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10:30AM: EIA Natural Gas Inventory
  • 11AM: Kansas City Fed Manufacturing Survey
  • 1PM: Results of $29B, 7 Year Note Auction
  • 4:30PM: Money Supply and Fed. Balance Sheet


  • GILD: Gilead announced approval of Sovaldi in Japan
  • SNDK: SanDisk lowers Q1 revenue guidance to $1.3B from $1.4B-$1.45B, consensus $1.44B (earnings scheduled for 4/15)
  • TWTR:YHOO:Twitter to Surpass Yahoo in U.S. Display Ad Revenue, reports the WSJ
  • The BOE said Thursday that “risks to the stability of the UK. financial system remain elevated, citing threats ranging from Greece’s debt troubles to diverging central-bank policies.”
  • SUNE: Enters 2.5-MW Module Supply Agreement with City of Long Beach
  • GWPH: Leerink sees GW Pharmaceuticals risk/reward positive into data and keeps an outperform on the stock
  • SSYS: Stratasys’ MakerBot enters Sam’s Club stores
  • AIRLINE STOCKS: alert on airline stocks after oil surges
  • CNAT: announces  top-line results from a Phase 2 trial evaluating emricasan in 38 patients with nonalcoholic fatty liver disease
  • RTN: Raytheon enters into partnership with Poland’s MESKO
  • WFC: Wells Fargo cutting 1,000 jobs as it closes Milwaukee office, reports AP



  • DPS: upgrade: hold to buy: Stifel: $90
  • GPRO: upgrade; neutral to outperform: Baird
  • CNW: upgrade: hold to buy: Stifel: $53


  • LPNT: downgrade: buy to neutral: Mizuho: $76.60
  • UNP: downgrade: outperform to market perform: Cowen: pt lowered from $138 to $122
  • MYGN: downgrade: neutral to sell: Goldman: $25


  • SUN: initiated: buy: Goldman: $60
  • FANG: initiated: outperform: Morgan Stanley: $90
  • AWAY: initiated: outperform: Oppenheimer: $37
  • ALLY: initiated: buy: Compass Point: $25
  • MOBL: initiated: outperform: RBC Capital: $13


  • RHT: pt raised from $77 yo $83: BMO Capital
  • RHT: pt raised from $75 to $85: Mizuho
  • RHT: pt raised from $75 to $86: Susquehanna
  • CBOE: pt cut from $54 to $52: Citigroup: Sell
  • KRFT: pt raised from $72 to $92: RBC Capital
  • AAPL: pt raised from $140 to $145: Credit Suisse
  • TWTR: pt raised from $50 to $58: Evercore
  • THC: pt raised from $49 to $58

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