NFLX | TSLA | Morning News

img_9899JUNE 25, 2015

With mixed markets around the world, US futures trading higher at this 7AM hour as investors look for some resolution to the Greek monetary crisis after a key meeting of eurozone finance ministers failed to yield an agreement. Also on tap for today are weekly jobless claims, PMI data and speeches by two Fed members.

NEWS:

  • FOX: SIRI: Sirius XM partner with FOX to launch 24-hour live news station
  • ALDR: announces $200M public offering of common stock
  • NFLX: Icahn sells his  Netflix shares
  • NFLX: plans to enter India by 2016
  • MCP: files Chapter 11 for bankruptcy protection
  • CREE: cuts guidance for FQ4: announces authorization of buyback for FY16
  • FB: HBO to stream Dwayne Johnson, Jack Black comedies on Facebook

ON THE ECONOMIC CALENDAR:

  • 8AM: Fed’s Tarullo speaks (voting member)
  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Personal Income and Outlays
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 9:45AM: PMI Services Index Flash
  • 9:45M: Fed’s Powell speaks (voting member)
  • 10:30AM: EIA Natural Gas Inventory
  • 11AM: Kansas City Fed Manufacturing Survey
  • 1PM: $29B, 7 Year Note Auction
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS:

  • BKS: conference call 10AM EST
  • MEI: FQ4 EPS of $0.68 in-line.Revenue of $227.3M misses by $0.77M: weak guidance, projects FY16 EPS $2.07-$2.22, consensus $2.75: conference call 11AM EST
  • FUL: FQ2 EPS of $0.63 misses by $0.03.Revenue of $541.63M misses by $13.56M: conference call 10:30AM EST
  • ACN:FQ3 EPS of $1.30 beats by $0.07.Revenue of $7.77B beats by $220M: raises guidance FY15 adjusted EPS  to $4.73-$4.78 from $4.66-$4.76: conference call 8AM EST

NOTABLE EARNINGS FROM LAST NIGHT:

  • BBBY: FQ1 EPS of $0.93 misses by $0.01.Revenue of $2.74B in-line

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • MU, NKE, SNX

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ODP: upgrade: market perform to outperform: Telsey: $11
  • FINL: upgrade: neutral to buy: B Riley: pt raised from $27 to $33
  • GTE: upgrade: hold to buy: Canaccord:
  • LLY: upgrade: neutral to buy: BofA/Merrill: pt raised from $74 to $101
  • T: upgrade: neutral to buy: BofA/Merrill

DOWNGRADES:

  • AMZN: downgrade: buy to hold: Evercore: $460
  • NFLX: downgrade: buy to neutral: Citi
  • BXP: downgrade: buy to hold: Stifel
  • CHK: downgrade: hold to sell: UBS:
  • WMB: downgrade: overweight to neutral: JP Morgan
  • ALE: downgrade: neutral to underweight: JP Morgan: pt cut from $53 to $47

INITIATIONS:

  • ISRG: initiated: overweight: Barclays: $575
  • FEYE: initiated: outperform: Wedbush: $63
  • CRTO: initiated: outperform: Cowen: $58
  • FIT: initiated: outperform: Leerink: $44

PRICE TARGET CHANGES:

  • LEN: pt raised from $59 to $61: RBC Capital
  • LEN: pt raised from $57 to $59: FBR Capital
  • NFX: pt raised from $42 to $44: RBC Capital
  • TSLA: pt raised from $350 to $360: Jefferies
  • OSK: pt cut from $52 to $50: RBC Capital
  • AMBA: pt raised from $105 to $115: Stifel
  • RHT: pt raised from $85 to $92: Northland
  • TREE: pt raised from $70 to $84: Needham

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bob curran Reply

gm, Pete concerning LLY——they have won a case britian this a.m. concerning a patened cancer product —july 84 calls ,a good bet or just by long swing ,no stops ——–while iam at it MYL -Long till wrong here and a possible takeout by TEVA –baby boomers need alot of generics ,and MYL has a better pipeline of expired patents coming up more than the big pharma,s

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