Jobs in Focus |Morning News

0207-JobsSEPTEMBER 30, 2015

US futures spiking higher at this 7AM hour, following world markets  higher as traders await the ADP jobs data this morning at 8:15AM and Janet Yellen speech later this afternoon at 2PM EST.

NEWS:

  • AAP: Starboard announces 3.7% stake in Advanced Auto Parts
  • RAX: AMZN: Rackspace teams up with Amazon, reports the wsj
  • RIO: announces plans to sell Australian coal min efor $606M
  • SCOR : RENT: ComScore and Rentak agree to a stock-for-stock merger
  • F:Workers at a key Ford plant in Missouri could go on strike as early as this weekend
  • LMT: BA:Lockheed-Boeing launch venture wins $882 million U.S. contract. reports the wsj

ON THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 8:15AM: :ADP Jobs Report
  • 9:45AM: Chicago PMI
  • 10:30AM EIA Petroleum Inventories
  • 2PM: Janet Yellen speaks

EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • COST:FQ4 EPS of $1.73 beats by $0.07: revenue of $35.78B misses by $440M
  • CUDA:FQ2 EPS of $0.10 beats by $0.01: revenue of $78.37M misses by $0.32M: revenue +14.2% Y/Y: lowers guidance
  • DMND:FQ4 EPS of $0.23 beats by $0.02.Revenue of $201.81M misses by $8.28M: revenue -7.9% Y/Y:guides in-line

ANALYSTS’ RATINGS CHANGES;

UPGRADES:

  • CFG: upgrade: neutral to buy: UBS: $28
  • MDVN: upgrade: underperform to market perform: Cowen
  • SNP: upgrade: hold to buy: Jefferies:
  • RL: upgrade: neutral to buy: UBS: $133
  • ESPR: upgrade: sell to neutral: Chardan Capital: pt cut from $29 to $18
  • ADI: upgrade: neutral to buy: Citi:

DOWNGRADES:

  • GPS: downgrade: neutral to sell: UBS: pt cut from $40 TO $25
  • GPS: downgrade: neutral to underperform: Mizuho: $26
  • BIDU: downgrade: buy to hold: Summit Research: pt cut from $205 to $150
  • BAS: downgrade: outperform to in-line: Imperial Capital: pt cut from $10 to $4.75
  • SQM: downgrade: overweight to neutral; JP Morgan
  • FLT: downgrade: buy to hold: Evercore
  • CUDA: downgrade: outperform to neutral: Macquarie
  • CUDA: downgrade: overweight to neutral: Piper Jaffray: pt cut from $40 to $20

INITIATIONS:

  • FOSL: initiated: neutral: Mizuho: $60
  • MD: initiated: buy: Mizuho: $88
  • DRI: initiated: hold: Maxim Group: $80
  • EAT: initiated: buy: Maxim Group: $64
  • SBNY: initiated: outperform: RBC Capital: $168
  • STL: initiated: outperform: RBC Capital: $18

PRICE TARGET CHANGES:

  • DISCA: pt cut from $42 to $40: Topeka Capital
  • DISCA: pt cut from $33 to $30: FBR Capital
  • DISCA; pt cut from $36 to $30: RBC Capital
  • RJET: pt cut from $10 to $8: Imperial Capital
  • VZ: pt cut from $51 to $48: RBC Capital
  • IHS: pt cut from $142 to $135: RBC Capital
  • MON: pt cut from $130 to $110: Deutsche Bank

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