Jobs in Focus | Morning News

Jobless Claims 11-18-15DECEMBER 04. 2015

US futures point to a higher opening despite the red arrows around the world as European and Asian markets headed down in overnight trading. Jobs data is front and center this morning. The reading could cement a highly anticipated interest rate hike this month, signaling the end to an era of easy lending

NEWS:

  • FB: Facebook begins selling concert tickets directly on events pages, reports The Next Web
  • AMGN: Amgen submits MAA in Europe for Humira biosimilar ABP 501
  • DGX:Quest Diagnostics increases share buyback by $500M

THE ECONOMIC CALENDAR:

  • 8:30AM: Non-farm Payrolls
  • 8:30AM: Unemployment Rate
  • 8:30AM: International Trade
  • 1PM: Baker-Hughes Rig Count
  • 3:45PM: Fed’s Bullard speaks on “Neo Fisherianism”
  • 4:10PM: Fed’s Kocherlakota speaks on “Monetary Policy Renormalization”

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • FIVE: Q3 EPS of $0.08 beats by $0.01: revenue of $169.69M beats by $3.09M: revenue +23.0% y/y: weak revenue guidance
  • ZUMZ:FQ3 EPS of $0.36 beats by $0.07: revenue of $204.32M beats by $0.29M: revenue -4.2% y/y: guides below consensus
  • AMBA: FQ3 EPS of $1.08 beats by $0.22: revenue of $93.2M beats by $3.3M: revenue +41.9% y/y: soft guidance
  • ULTA:Q3 EPS of $1.11 beats by $0.06: revenue of $910.7M beats by $30.7M: revenue +22.1% y/y: guides in-line
  • BKS: FQ2 EPS of -$0.36 misses by $0.05: revenue of $894.65M misses by $23.18M: revenue -4.5% y/y
  • COO:FQ4 EPS of $2.00 misses by $0.11: revenue of $455.54M misses by $18.71M: revenue -2.7% y/y: soft guidance
  • OVTI:FQ2 EPS of $0.37 beats by $0.05: revenue of $343.1M beats by $28.07M: revenue -12.9% y/y: guides in-line

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • GCO: Q3 EPS of $1.40 beats by $0.10: revenue of $773.9M beats by $13.52M.: revenue +7.1% y/y
  • BIG:Q3 EPS of -$0.01 misses by $0.01: revenue of $1.12B in-line: revenue +0.9% y/y: solid guidance

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ATW: upgrade: underweight to equal weight: Barclays: $18
  • PNK: upgrade: neutral to positive: Susquehanna: pt cut from $44 to $43
  • HPP: upgrade: equal weight to overweight: Morgan Stanley: $34
  • DLTR: upgrade: outperform to top pick: RBC Capital: $90

DOWNGRADES:

  • ADI: downgrade: overweight to equal weight: Barclays: $60
  • M: downgrade: buy to neutral: Goldman: $42
  • UNP: downgrade: buy to neutral: BofA/Merrill: pt cut from $102 to $87
  • CSX: downgrade: buy to neutral: BofA/Merrill: pt cut from $33 to $29
  • KSU: downgrade: neutral to underperform: BofA/Merrill: pt cut from $93 to $81
  • GWR: downgrade: neutral to underperform: BofA/Merrill: pt cut from $69 to $62
  • PII: downgrade: neutral to underperform: Longbow: $90
  • GPRO: downgrade: outperform to neutral: Baird: pt cut from $36 to $18

INITIATIONS:

  • DMTX: initiated: buy: Goldman: $20
  • MMS: initiated: by: Stifel: $65
  • QCOM: initiated: overweight: Pacific Crest: $64
  • LNKD: initiated: buy: Nomura: $290
  • NMBL: initiated: overweight: JP Morgan: $15
  • INFN: initiated: outperform: Raymond James: $27
  • CELG: resumed: outperform: Wells Fargo
  • BIIB: resumed: outperform: Wells Fargo: pt range $356-396
  • FPRX: resumed: outperform: Wells Fargo
  • ISIS: initiated: outperform: Wells Fargo: pt range $90-97
  • HALO: initiated: outperform: Wells Fargo:
  • MAC: initiated: outperform: Boenning & Scattergood: $90
  • SPG: initiated: outperform: Boenning & Scattergood
  • GGP: initiated: outperform: Boenning & Scattergood:
  • PN: initiated: buy: Compass Point: $20
  • HAS: initiated: hold: Jefferies: $72
  • MAT: initiated: buy: Jefferies: $27

PRICE TARGET CHANGES:

  • KR: pt raised from $43 to $46: Telsey Advisory
  • ULTA: pt raised from $168 to $174: RBC Capital
  • DD: pt raised from $65 to $68: RBC Capital
  • DG: pt raised from $82 to $83: RBC Capital
  • ADSK: pt raised from $65 to $67: RBC Capital
  • FIVE: pt raised from $40 to $42: RBC Capital
  • ALK: pt raised from $90 to $97: Cowen
  • LMAT: pt raised from $14 to $17: Stifel
  • PLAB: pt raised from $12 to $14: Needham
  • AIZ: pt raised from $95 to $105: SunTrust
  • UNFI: pt cut from $50 to $46: RBC Capital
  • AYR: pt cut from $24 to $22: FBR Capital
  • MIK: pt cut from $30 to $26: Telsey Advisory
  • PVH: pt cut from $1265 to $105: Telsey Advisory
  • TLYS: pt cut from $12 to $10: Roth Capital
  • AMBA: pt cut from $100 to $75: Topeka Capital
  • AMBA: pt cut from $115 to $92: Stifel
  • CMG: pt cut from $710 to $525: Deutsche Bank
  • PLCE: pt cut from $72 to $60: Mizuho
  • ZUMZ: pt cut from $18 to $13: Mizuho
  • VRNT: pt cut from $60 to $55: Imperial Capital

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