Jobs in Focus | Morning News

JUNE 05, 2015

US futures pulling back further into the red at this 7AM hour as investors await important jobs data this morning before the market opens.  Overnight, Shanghai surged, breaking through the 5000 level for the first time since 2008 while the European markets continue to falter on Greek debt payment delay. Meanwhile, oil fell to its lowest level this week ahead of production decision out of the OPEC meeting, wrapping up today.

NEWS:

  • PTN: FDA recommends approval of fibanserin, the company’s HSDD drug
  • CHK: natural gas supply hits largest surplus since 2003, and second largest since records have been kept in 1994
  • BABY: initiates $20M share repurchase
  • SINA: Greenwoods files 6.6% passive stake in SINA
  • FB: introduces Facebook Lite, to tap into the many markets with bandwidth limitations
  • DISH: Sling TV introduces Spanish language brand, Sling Latino
  • LMT: announces $920M deal for work on materials and parts for next F-35 jet
  • VOD: LBTYA: Vodafone and Liberty Global in merger talks
  • MANH: SUPN: Manhattan Associates  joining S&P 400 and Supernus Pharma joining S&P 600 after the close on June 10

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Non Farm Payrolls: consensus expectation 210K
  • 8:30AM: Unemployment Rate: consensus expectation, unchanged at 5.4%
  • 8:30AM: Average Hourly Earnings: consensus expectation: 0.2%
  • 12:30PM: Fed’s Williams speaks
  • 3PM: Consumer Credit

EARNINGS:

  • LITB: Q1 EPS of -$0.18 beats by $0.03.Revenue of $99.3M  beats by $9.27M
  • YGE: Q1 EPS of -$0.31 misses by $0.07.Revenue of $468.7M beats by $14.1M
  • UTSI:Q1 EPS of -$0.14 in-line.Revenue of $32.4M beats by $3.96M

SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • ZUMZ: FQ1 EPS of $0.12 in-line.Revenue of $177.6M misses by $1.72M: weak guidance
  • PAY:FQ2 EPS of $0.44 beats by $0.02.Revenue of $490M (+5.0% Y/Y) beats by $0.91M:  light guidance
  • ZOES:FQ1 EPS of $0.04 beats by $0.05.Revenue of $63M beats by $1.48M
  • ESL:FQ2 EPS of $1.20 misses by $0.13.Revenue of $500.1M misses by $34.6M
  • DMND:FQ3 EPS of $0.23 beats by $0.08.Revenue of $186.06M misses by $9.28M

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • UA: upgrade: neutral to buy: DA Davidson: $91
  • DWA: upgrade: hold to buy: Stifel: $34
  • AES: upgrade: neutral to overweight: JP Morgan: pt raised from $14 to $16
  • GPOR: upgrade: market perform to outperform: FBR Capital: pt raised from $50 to $55
  • VRTS: upgrade: hold to buy: Jefferies: $145
  • SCHW: upgrade: neutral to buy: Goldman: $35
  • CB: upgrade: underperform to market perform: Keefe Bruyette

DOWNGRADES:

  • TMH: downgrade: buy to neutral: Goldman: $68
  • ZUMZ: downgrade: outperform to neutral: Baird: pt cut from $42 to $28
  • CVC: downgrade: outperform to market perform: Telsey Advisory Group
  • PSG: downgrade: buy to neutral: Wedbush: $22
  • CFG: downgrade: outperform to market perform: Keefe Bruyette: $28

INITIATIONS:

  • ZUMZ: initiated: buy: Mizuho: $29
  • LPNT: initiated: conviction buy: Goldman: $92
  • BMRN: initiated: overweight: Barclays: $150
  • XONE: coverage resumed: market perform: FBR Capital: $13
  • SSYS: coverage resumed: market perform: FBR Capital: $42
  • DDD: coverage resumed: market perform: FBR Capital: $21

PRICE TARGET CHANGES:

  • LGND: pt raised from $127 to $135: Roth Capital
  • CHTR: pt raised from $199 to $204: Telsey Advisory Group
  • ZOES: pt raised from $42 to $45: Stifel
  • ZUMZ: pt cut from $48 to $40: Topeka Capital

 

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