Jobs | Morning News

OCTOBER 2, 2015

US futures poised to open higher at this 7 AM hour following green arrows around the world as traders await key jobs data due out before the opening, Overnight, crude traded higher as the commodity gets a lift from the tensions intensifying in Syria.

NEWS:

CUDA: announces $50M buyback authorization
GMCR: US sales and marketing chief resigns
AEP: announces plans to sell its River Operations commercial barge transportation unit for $550M
FB: unveils new mobile profile features, reports Facebook newsroom
REGN: announces license deal for fasinumab in Asia, valued at $325M
SWHC: shooting in Oregon puts guy ownership back in focus
JWN: announces sale of its credit card portfolio for $2.2B, using the proceeds to pay out a special dividend and buyback shares of its stock

ON THE ECONOMIC CALENDAR:

8:30AM: Non-farm Payrolls
8:30AM: Unemployment Rate
8:30AM: Average Hourly Earnings
8:30AM: Fed’s Rosengren speaks on “Macro Prudential Monetary Policy”
8:45AM: Fed’s Harker speaks on “Credit and Payment Markets”
9AM: Fed’s Kocherlakota speaks on “Macro Prudential Monetary Policy”
10AM: Factory Orders
11AM: Fed’s Mester speaks on “Macro Prudential Monetary Policy”
12PM: Stanley Fisher at Boston Fed Conference
1PM: Fed’s Bullard speaks on “US Economy and Monetary Policy”

EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

MU: FQ4 EPS of $0.37 beats by $0.04: revenue of $3.6B (-14.9% Y/Y) beats by $40M: revenue -14.9% Y/Y: guides light
BEBE: FQ4 EPS of -$0.05 misses by $0.01: revenue of $104.3M misses by $2.03M: revenue +0.7% Y/Y: reaffirms guidance: announces workforce reorganization: board authorizes $5M share repurchase program
CAMP: FQ2 EPS of $0.27 beats by $0.01: revenue of $69.8M beats by $1.84M: revenue +17.9% Y/Y: narrows guidance in-line with consensus estimates
PRGS: FQ3 EPS of $0.39 beats by $0.02: non-GAAP revenue of $100.7M misses by $3.59M: revenue +27.7% Y/Y: guides revenue below estimates: announces $100M buyback authorization
RGLS:Q2 EPS of -$0.41 misses by $0.12: revenue of $3.83M beats by $1.43M: revenue +424.7% Y/Y

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

FINL: upgrade: sell to neutral: Goldman: $20
GOOG: GOOGL: upgrade: perform to outperform: Oppenheimer: pt raised from $670 to $700
VRTX: upgrade: hold to buy: Argus Research: $126
BLK: upgrade: neutral to buy: UBS: pt cut from $370 to $350
ALXN: upgrade: equal weight to overweight: Morgan Stanley: $211
JCI: upgrade: neutral to buy: Normura: $50
PFE: upgrade: equal weight to overweight: Morgan Stanley: $38

DOWNGRADES:

AIG: downgrade: outperform to market perform: FBR Capital: pt cut from $68 to $63
GILD: downgrade: overweight to equal weight: Morgan Stanley: $127
TROW: downgrade: buy to neutral: UBS: $68
LPLA: downgrade: neutral to sell: UBS:

INITIATIONS: