Jobs in Focus | Morning News

JUNE 03, 2015

US futures following Europe into positive territory at this 7AM hour as investors await a myriad of data including ISM non manufacturing and a first look at the labor market when ADP jobs number comes out at 8:15AM EST.  Oil taking a hit overnight as US oil inventories rise and traders look to the outcome of the OPEC meeting this week.

NEWS:

  • ETSY: Pinterest is planning to launch “buyable pins”, enabling users to buy items they see directly via Pinterest, reports techcrunch
  • MYL: TEVA: Teva Pharmaceutical is reportedly looking to purchase more shares in Mylan, reports reuters
  • AMZN: launches program “free shipping for small and light packages”, reports businessinsider
  • LNKD: added to Focus List  at JP Morgan: overweight: $300
  • FOX: FOXA: TWX: Fox and Time Warner to receives millions in California expansion of tax credits
  • DIS: HAS: Disney to launch high tech Playmations toys, with Hasbro making and distributing them, reports techcrunch
  • WEN: announces $1.4B share buyback
  • DFT: announces $250M debt offering
  • BA: awarded $4.3B aircraft order from Air China
  • ADBE: Adobe to purchase Mixamo, a 3D animation company
  • SNCR: Synchronoss is exploring a sale, reports the wsj

ON THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 8:15AM: ADP Jobs Report
  • 8:30AM: Gallup US Job Creation Index
  • 8:30AM: International Trade
  • 9:45AM: PMI Services Index
  • 10AM: ISM Non Manufacturing Index
  • 10:30AM: EIA Petroleum Inventories
  • 2PM: Fed’s Beige Book

EARNINGS:

  • VRA: conference call 9:30AM

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • VMEM:FQ1 EPS of -$0.22 misses by $0.02.Revenue of $12.1M misses by $9.33M: guidance below consensus
  • GWRE:FQ3 EPS of $0.04 misses by $0.01.Revenue of $85.44M beats by $3.64M: soft guidance
  • GIII:FQ1 EPS of $0.15 beats by $0.08.Revenue of $433M beats by $27.18M
  • AMBA:FQ1 EPS of $0.71 beats by $0.12.Revenue of $71.01M  beats by $3.65M: strong guidance

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • FIVE, LF, VRNT

ANALYSTS’ RATINGS CHANGES;

UPGRADES:

  • NUAN: upgrade: market perform to outperform: Raymond James:
  • NICE: upgrade: neutral to overweight: JP Morgan:
  • BIN: upgrade: sector weight to overweight: KeyBanc: $32
  • TTWO: upgrade: market perform to outperform: Cowen”
  • HUM: upgrade: underperform to neutral: Sterne Agee:

DOWNGRADES:

  • DF: downgrade: overweight to equal weight: Morgan Stanley: $19
  • AAL: downgrade: buy to neutral: BofA/Merrill: pt cut from $64 to $50

INITIATIONS:

  • APO: initiated: overweight: Piper: $33
  • SCHW: initiated: overweight: Piper: $39
  • KKR: initiated: overweight: Piper: $31
  • BX: initiated: overweight: Piper: $50
  • LCI: initiated: outperform: Raymond James: $63
  • ACT:initiated: outperform: Raymond James: $344
  • CIEN: initiated: buy: Nomura: $29
  • CAT: initiated: buy: Societe Generale: $110
  • TRIP: initiated: underweight: Barclays: $68
  • EXPE: initiated: overweight: Barclays: $125

PRICE TARGET CHANGES:

  • GIII: pt raised from $62 to $75: Wunderlich
  • GIII: pt raised from $58.50 to $65: Telsey
  • PVH: pt raised from $118 to $134: Telsey
  • DG: pt raised from $80 to $83: Telsey
  • GPRO: pt raised from $70 to $75: JP Morgan
  • AMBA: pt raised from $96 to $123: Key
  • AMBA: pt raised from $75 to $105: Topeka
  • AMBA: pt raised from $65 to $100: Morgan Stanley
  • AMZN: pt raised from $475 to $520: Piper
  • CIEN: pt raised from $27 to $30: Dougherty & Co

About the Author

Leave a Reply 2 comments

Ken Busch Reply

Really nice call on EXPE Marian! Thanks very much

Marian Boyle Reply

Welcome Ken!! I’m glad it worked out. And thanks for all your great calls. You’re a valuable part of our group!

Marian

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