Morning News

JUNE 23, 2015

US futures rising at this 7AM hour, following green arrows around the world as the markets pin hopes on a forthcoming deal in the ongoing Greek monetary crisis. Investor attention will also be drawn to some important economic data due out this morning, including durable goods numbers, as well as a new home sales. Fed member Powell is due to speak at 8:30 this morning in Washington.

NEWS:

ORCL:AMZN: announces the expansion of its cloud-computing offerings, bringing the company into more direct competition with Amazon Web Service
TWC: Commercial Network Services has filed a net neutrality complaint against Time Warner Cable
ADEP: Two unnamed “global companies in the digital storage industry” have placed orders that total over $2.5M
CAT: announces that it will lay off another 50 workers at its East Peoria IL manufacturing facility
GDOT: announces that its contract to manage and issue Wal-Mart MoneyCard debit cards was extended for another 5 years
GOOG: GOOGL: Getty joins EU’s Google complaint, reports the Wall Street Journal
VIMC: wins $22M contract in Shanxi Province
GCI: announces that its publishing company will begin a 3 year stock repurchase program of up to $150 million
WSR: announces 3.75M share offering
JNPR: RKUS: Juniper Networks and Ruckus Wireless Team to Bring High-Performance, Scalable and Open Network Solutions to the Enterprise, reports businesswire

ON THE ECONOMIC CALENDAR:

8:30AM: Durable Goods
8:30AM: Fed Powell speaks (voting member)
8:55AM: Redbook Chain Store Sales
9AM: FHFA House Price Index
9:45AM: PMI Manufacturing Index Flash
10AM: Richmond Fed Manufacturing
10AM: New Home Sales
1PM: $26B 2 Year Note Auction

EARNINGS:

IHS: FQ2 EPS of $1.50 beats by $0.05.Revenue of $591M beats by $15.63M: raises guidance FY15 from $5.77-$5.97 to $5.80-$6.00: conference call 8AM EST
BBRY: Q1 EPS of -$0.05 misses by $0.02.Revenue of $658M misses by $25.65M: anticipates positive free cash flow in FY16: conference call 8AM EST
CCL: conference call 10AM EST
DRI: FQ4 EPS of $1.08 beats by $0.15.Revenue of $1.88B beats by $10M: upbeat guidance, FY16 adjusted EPS $3.05-$3.20, consensus $2.88:conference call 8:30AM EST

SOME NOTABLE EARNINGS FROM LAST NIGHT:

SONC: FQ3 EPS of $0.36 in-line.Revenue of $164.75M beats by $0.58M.

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

T: upgrade: neutral to buy: UBS: pt raised from $34 to $42
T: upgrade: equal weight to overweight: Barclays: pt raised from $34 to $39
VOD: upgrade: neutral to buy: Normura
JBLU: upgrade: underweight to equal weight: Morgan Stanley
ALK: upgrade: equal weight to overweight: Morgan Stanley
TWH: upgrade: sector weight to overweighT: KeyBanc:
VNR: upgrade; market perform to outperform: Raymond James
HME: upgrade: underweight to equal weight: Morgan Stanley
ALR: upgrade: neutral to buy: Goldman: pt raised from $50 to $60

DOWNGRADES:

TAP: downgrade: buy to neutral: Normura:
DGX: downgrade: buy to neutral: Goldman:
HA: downgrade: equal weight to underweight: Morgan Stanley
AAL: downgrade: overweight to equal weight: Morgan Stanley: pt cut from $62 to $49
WDC: downgrade: overweight to neutral: JP Morgan:
AMCX: downgrade: buy to hold: Topeka: $85

INITIATIONS: