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