GOOG | Earnings | Morning News

APRIL 15, 2015

US futures on the rise at this 7AM hour as investors dig into another day of earnings, speeches by three different Fed members and a onslaught of economic data, including industrial production and the Beige Book. Overseas, European markets on the rise awaiting a press conference by Draghi this morning while the Shanghai took a hit as China’s GDP confirmed a slowdown in their economic growth

NEWS:

SSNLF: announces higher than expected demand for the Galaxy S6
GOOG: GOOGL: EU opens formal charges of distorting internet search results and an antitrust probe into the Android, reports reuters
ONCY: announces that it’s pancreatic cancer drug, Reolysin, demonstrates positive results
SOLAR SECTOR: Japan court bars restart of two Takahama nuclear reactors, reports the bbc
CCJ: impacted negatively by Japan’s court barring restart of nuclear reactors
FANG: added to Goldman’s Conviction Buy list
TEN: announces contract to supply two new Ford models with suspension systems
MCP: announces 10 year deal with Siemens to supply rare earths for turbine generators
MSFT: Citigroup cuts price target and revenue estimates
DECK: president of the Ugg division leaving company
INTC: Top Pick at Wells Fargo
F: reports 14.4% sales increase, +12.5% in Europe
ALU: NOK: Nokia to buy Alcatel for $16.6B

ON THE ECONOMIC CALENDAR:

7AM: MBA Mortgage Applications: ACTUAL: composite index fell 2.3% v. last week’s +0.4%
7:45AM: ECB policy meeting
8:15AM: Draghi press conference
8:30AM: Empire State Manufacturing Survey: ACTUAL: -1.2% v. +7.0 expected
9AM: Fed’s Bullard speaks: The Economy and Monetary Policy (NOTE: not a voting member)
9:15AM: Industrial Production
10AM: Atlanta Fed’s Business Inflation Expectations
10AM: NAHB Housing Market Index
10:30AM: EIA Petroleum Inventories
10:40AM: Fed’s Fischer moderates panel at IMF on bank regulation ( NOTE: voting member)
2PM: Fed’s Beige Book
4PM: Treasury International Capital
7:30PM: Fed’s Lacker speaks in Charleston SC (NOTE: voting member)

EARNINGS:

PNC: Q1 EPS of $1.75 beats by $0.03.Revenue of $3.73B (-1.3% Y/Y) misses by $20M: conference call 10:30AM EST
TITN:Q4 EPS of -$0.20 misses by $0.01.Revenue of $490.65M (-30.8% Y/Y) misses by $54.84M:Q4 negatively impacted by the agricultural industry: expects to be profitable 2016: conference call 8:30AM EST
USB: Q1 EPS of $0.73 misses by $0.03: Revenue of $4.91B(+2.1% Y/Y) misses by $40M:
DAL: Q1 EPS of $0.45 beats by $0.01.Revenue of $9.39B (+5.3% Y/Y) in-line:
BAC:Q1 EPS of $0.36 beats by $0.07.Revenue of $21.42B (-5.9% Y/Y) misses by $80M: Tangible book value per share of $14.79 v. $13.81 one year ago: numbers show stronger mortgage data, weaker trading income: conference call 8:30AM EST

SOME NOTABLE COMPANIES REPORTING AFTER THE BELL TODAY: BNK, CNS, KMI, NFLX, SNDK, UMPQ, UFPI

SOME NOTABLE COMPANIES REPORTING BEFORE THE BELL TOMORROW: ADS, BLK, C, LODE, CNSI, FRC, GS, KEY, FBCT, PM, PPG, SHW, SON, TSM, BX, TZOO, UNH, GWW, WBS

ANALYSTS’ RATINGS CHANGES;

UPGRADES:

INTC: upgrade: sector perform to outperform: RBC Capital: pt raised from $38 to $40
INTC: upgrade: neutral to outperform: Wedbush: pt raised from $34 to $37
DFS: upgrade; neutral to overweight: JPM: $65

DOWNGRADES: