Jobs in Focus | Morning News

JobSearchNewspaperAUGUST 7. 2015

US futures struggling at this 7AM hour as traders turn their focus on jobs data this morning at 8:30. On tap will be fresh figures on non-farm payrolls, unemployment, and hourly earnings. Markets overseas are mixed, with Europe being led lower by weak German industrial production readings. Gold stabilizing overnight with the commodity up nominally.

NEWS:

  • BABA: Alibaba inks exclusive tie-ups with global brands to sell in China, reports reuters
  • UBNT: launches $100M stock repurchase program
  • UA: Tony Romo inks an endorsement deal with Under Armour, reports the nypost
  • CCE: KO: Coca-Cola bottlers confirm mergr to form Coca-Cola European
  • LNG: Carl Icahn reports 8.18% active stake in Cheniere Energy
  • F: Ford China sales growth declines for third month: July down 6 pct Y/Y, reports reuters
  • YELP: GRUB: Uber expanding UberEATS, an ultra-fast meal delivery service

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Non-farm Payrolls: expectation for a slight drop to 220K from last month’s 223K
  • 8:30AM: Unemployment Rate: expectation 5.3%, unchanged from last month
  • 8:30AM: Average Hourly Earnings: expectation 0.2%, up from 0.0% last moth
  • 3PM: Consumer Credit

EARNINGS THIS MORNING BEFORE THE OPENING:

  • HIMX: Q2 EPS of $0.05 in-line: revenue of $169.2M misses by $3.37M
  • BID: Q2 EPS of $1.04 misses by $0.20: revenue of $332.01M misses by $10.48M
  • CST: Q2 EPS of $0.32 misses by $0.01: revenue of $2.55B beats by $50M
  • HSY: Q2 EPS of $0.78 beats by $0.03: revenue of $1.58B misses by $40M
  • SIRO: FQ3 EPS of $1.16 beats by $0.01: revenue of $306.1M beats by $10.26M
  • JD: Q2 EPS of -RMB0.01: revenue of RMB45.93B: revenue +60.5% Y/Y

RECAP OF SOME NOTABLE EARNINGS AFTER THE CLOSE YESTERDAY:

  • NDLS: Q2 EPS of $0.10 misses by $0.02: revenue of $115.23M misses by $2.65M: lowers guidance
  • ZNGA: Q2 EPS of -$0.01 beats by $0.01: revenue of $174.46M beats by $17.62M: soft guidance
  • MNST: Q2 EPS of $0.79 misses by $0.12: revenue of $693.72M misses by $62.18M: reports that Coke partnership disruption negatively impacted Q2
  • NUAN: FQ3 EPS of $0.32 beats by $0.03: revenue of $488.7M beats by $8.34M: guides revenue below expectations
  • NUS:Q2 EPS of $0.75 beats by $0.03: revenue of $560.21M beats by $9.4M: lowers guidance but remains in-line with expectations
  • NVDA: Q2 EPS of $0.05 misses by $0.05: revenue of $1.15B beats by $140M: guides revenue above estimates
  • BITA:Q2 EPS of $0.31 beats by $0.04: revenue of $162.2M beats by $1.25M: revenue +92.6% Y/Y: light guidance
  • RBCN: Q2 EPS of $0.33 beats by $0.61: revenue of $7.1M misses by $4.53M: revenue -50.9% Y/Y: soft guidance
  • IMPV: Q2 EPS of -$0.08 beats by $0.13: revenue of $53.47M beats by $4.92M: revenue +39.1% Y/Y: strong guidance
  • CUBE: Q2 FFO of $0.30 in-line: revenue of $109.87M beats by $1.89M: raises guidance
  • STMP:Q2 EPS of $0.97 beats by $0.26: revenue of $48.36M beats by $5.03M: revenue +41.1% Y/Y: raises guidance
  • MDVN: Q2 EPS of $0.58 beats by $0.13: revenue of $175.7M beats by $16.28M: revenue +18.6%Y/Y
  • SFM: Q2 EPS of $0.22 in-line: revenue of $902.15M beats by $1.19M: lowers guidance
  • OSTK: Q2 EPS of $0.07 misses by $0.06: revenue of $388.01M beats by $13.51M

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • DDD: upgrade: underweight to neutral: Piper Jaffray:
  • COH: upgrade: neutral to buy: UBS: pt raised from $34 to $42
  • HBNC: upgrade: market perform to outperform: Keefe, Bruyette: $29
  • TLN: upgrade: sell to neutral: UBS
  • TGP: upgrade: neutral to buy: UBS

DOWNGRADES:

  • OPHT: downgrade: neutral to sell: Goldman:
  • INTC: downgrade: buy to hold: Drexel Hamilton: pt cut from $40 to $30
  • KORS: downgrade: neutral to underweight: Piper Jaffray
  • UBNT: downgrade; buy to hold: Wunderlich: pt cut from $37 to $36
  • SSTK: downgrade: outperform to sector perform: RBC Capital: $38
  • MKL: downgrade: outperform to sector perform: RBC Capital
  • MWE: downgrade: outperform to neutral: Credit Suisse: pt cut from $81 to $72
  • MWE: downgrade: overweight to neutral: Piper Jaffray
  • BRCM: downgrade: buy to neutral: Wedbush: $54

INITIATIONS:

  • ES: initiated: neutral: Mizuho: $52
  • QURE: initiated: buy: WallachBeth: $35

PRICE TARGET CHANGES:

  • NVDA: pt raised from $23 to $24: Topeka Capital
  • MX: pt raised from $9 to $14: Topeka Capital
  • AGN: pt raised from $361 to $375: RBC Capital
  • NUAN: pt raised from $18 to $20: FBR Capital
  • IMPV: pt raised from $50 to $67: Topeka Capital
  • IMPV: pt raised from $67 to $80: Pacific Crest
  • IMPV: pt raised from $76 yo $80: RBC Capital
  • MNST: pt raised from $154 to $166: UBS
  • BDX: pt raised from $150 to $162: RBC Capital
  • MU: pt cut from $30 to $20.50: Mizuho
  • MU: pt cut from $25 to $19: Wedbush
  • FANG: pt cut from $93 to $83: Northland Capital
  • CRZO: pt cut from $65 to $52: Northland Capital
  • EAT: pt cut from $65 to $63: RBC Capital
  • APA: pt cut from $77 to $72: RBC Capital
  • EMES: pt cut from $47 to $32: Cowen
  • TDC: pt cut from $43 to $33: Mizuho
  • FOSL: pt cut from $94 to $70: Telsey Advisory Group
  • GPOR: pt cut from $54 to $50: FBR Capital

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