GOOG investigated : Morning News

Heading into the long weekend, US futures continue their slump along with the dollar after yesterday’s weaker than expected economic data disappointed traders and eroded confidence. Non-farm payrolls will be released tomorrow while the markets are closed which adds caution to investor trading.  All eyes and ears will be on Janet Yellen’s speech at 8:30 AM

ECONOMIC CALENDAR:

  • 7:30AM: Challenger Job Cuts Report
  • 8:30AM: Janet Yellen speaks
  • 8:30AM: International Trade : ACTUAL: -$35.4B vs. -$41.2B expected and -$42.66B (revised) prior.
  • 8:30AM: Gallup US Payroll to Population
  • 8:30AM: Initial Jobless Claims: ACTUAL: Jobless claims fall 20,000 to 268,000, near post-recession low
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Factory Orders
  • 10:30AM: EIA Natural Gas Inventory
  • 4:30PM: Money Supply and Fed Balance Sheet

NEWS:

  • GOOG: EU to file antitrust charges against GOOG. reports the WSJ ( GOOG support 537.66, then 50% fib 532.76)
  • YNDX: Deutsche Bank sees positives for Yandex in GOOG investigation
  • SKUL: Jefferies out positive on Skulcandy seeing a the possibility of  the stock doubling
  • BABA:Alibaba to Surpass Baidu in Mobile Internet Ad Revenues in China , reports emarketer
  • BABA: MKM Partners out positive on BABA
  • SPG: announces $2B share buyback program
  • MON: reiterates buy: Canaccord: $143
  • LL: announces that sales grew 5.6% to $260M in Q1: Full results will be released on April 29
  • RPRX: announced last evening that the FDA accepted its New Drug Application for Androxal for review
  • ALK: reports revenue passenger miles rose 11.2% to 2.899B in March.
  • FXCM: pays back another $54M to Leucadia
  • TSLA: Credit Suisse sees strong demand in Europe : pt $290: outperform

EARNINGS:

  • KMX: Q4 EPS of $0.65 beats by $0.05.Revenue of $3.51B (+14.0% Y/Y) beats by $10M:Wholesales vehicle sales +17% to $492M: plans for 14 store openings in FY16: conference call 9AM EST

ANALYST RATINGS CHANGES:

UPGRADES and DOWNGRADES:

  • DKS: upgrade: hold to positive: Susquehanna: $68
  • PG: downgrade; outperform to market perform: BMO: pt cut from $90 to $84
  • KMB: downgrade; outperform to market perform: BMO: pt cut from $125 to $112

INITIATIOS:

  • BDSI: initiated: outperform: FBR: $19
  • TUES: initiated: buy: Janney: $20

PRICE TARGET CHANGES:

  • FB: pt raised from $91 to $97: Citigroup
  • MAN: pt raised from $80 to $89: Deutsche Bank
  • GPOR: pt raised from $50 to %60: Jefferies
  • SWKS: pt raised from $92 to $110: Brean Capital
  • SBUX: pt raised from $99 to $112: Bernstein
  • BMRN: pt raised from $123 to $140: BofA/Merrill
  • EXPE: pt raised from $90 to $115: Cowen
  • MOS: pt cut from $58 to $55: UBS

 

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