NKE | Morning News

stock market newsJUNE 26, 2014

US futures under pressure at this 7AM hour after a choppy session on Wall Street yesterday, which saw the Dow Transportation Index fall another 0.9%.  Overnight markets around the world fell into the red with the Shanghai plunging more than 7%. With little on the economic calendar for the day, traders remain cautious into the weekend with yet another meeting on the Greek monetary crisis on Sunday.

NEWS:

  • NBL: Israel’s security cabinet has voted in favor of a plan to let Noble Energy and Israeli’s Delek Group keep control of most of the country’s natural gas deposits
  • ZTS: VRX :Market chatter says Valeant Pharmaceuticals  has made a bid Zoetis, the animal health firm
  • BMRN: SRPT: European Medicines Agency accepts for review BMRN’s Marketing Authorization Application for drisapersen for the treatment of Duchenne Muscular Dystrophy
  • BABA: Alibaba-backed MYbank opened Thursday.  The service is an all-digital bank, it has no physical branches but is open 24/7
  • REGN: announces Eylea approved in Japan
  • BIIB: Biogen and SOBI announced that the European Medicines Agency has accepted the Marketing Authorization Application of ALPROLIX
  • LLY: announces positive phase 1b top line results for BioChaperone Lisp
  • SFUN: Greenwoods files, reports 5.7% stake in SouFun
  • HCP: files $750M automatic mixed security shelf “at-the-market”
  • SLB: CAM:OneSubsea, a Cameron and Schlumberger  company, has been awarded a contract totaling more than $60 million for the Shah Deniz Two development, reports PR newswire
  • AAPL: iWatch debuts in Zurich, gets cool reception, reports bloomberg
  • SWHC: announces $50M buyback

ON THE ECONOMIC CALENDAR:

  • 10AM: Reuters/UofM Consumer Sentiment
  • 12:45PM: Fed’s George to speak (not a voting member)

EARNINGS:

  • FINL: FQ1 EPS of $0.30 beats by $0.06.Revenue of $443.39M beats by $13.56M conference call 8:30AM EST

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • MU: FQ3 EPS of $0.54 misses by $0.03.Revenue of $3.85B misses by $60M: soft guidance
  • NKE: FQ4 EPS of $0.98 beats by $0.15.Revenue of $7.78B beats by $90M: upbeat guidance

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • HCA: upgrade: market perform to outperform: Wells Fargo: pt range raised from $64-70 to $92-112
  • THC: upgrade: market perform to outperform: Wells Fargo
  • CYH: upgrade: market perform to outperform: Wells Fargo
  • CYH: upgrade: neutral to buy: Mizuho: pt raised from $52 to $83.90
  • UNH: upgrade: neutral to buy: Sterne Agee
  • ZION: upgrade: neutral to outperform: Credit Suisse:
  • LPNT: upgrade: neutral to buy: Mizuho:
  • FUL: upgrade: underperform to neutral: Longbow

DOWNGRADES:

  • ZTS: downgrade: outperform to market perform: BMO Capital
  • FEYE: downgrade: overweight to equal weight: Barclays: $56
  • MU: downgrade: buy to neutral: Mizuho: pt cut from $37 to $30
  • CFG: downgrade: buy to neutral: Guggenheim
  • TGT: downgrade: outperform to market perform: BMO Capital
  • CYH: downgrade: outperform to market perform: Raymond James

INITIATIONS:

  • FTNT: initiated: overweight: Barclays: $50
  • CCJ: initiated: buy: Goldman:
  • SUNE: initiated: outperform: Northland Capital: $38
  • AMZN: initiated: buy: Mizuho: $498
  • ATVI: initiated: buy: Mizuho: $29
  • CALM: initiated: buy: DA Davidson: $65
  • CHKP: initiated: equal weight: Barclays: $90
  • EA: initiated: buy: Mizuho: $75
  • FB: initiated: buy: Mizuho: $104
  • TTWO: initiated: Buy: Mizuho: $32
  • MU: reiterated: underweight: Morgan Stanley: $19

PRICE TARGET CHANGES:

  • PANW: pt raised from $178 to $210: Barclays
  • HCA: pt raised from $89 to $100: Mizuho
  • HCA: pt raised from $95 to $108: Jefferies
  • CYH: pt raised from $65 to $79: Jefferies
  • CYH: pt raised from $60 to $82: Oppenheimer
  • HCA; pt raised from $87 to $102: Oppenheimer
  • THC: pt raised from $63 to $70: Jefferies
  • CMA: pt raised from $55 to $60: Wunderlich
  • LGF: pt raised from $41 to $42: Topeka Capital markets
  • EXAS: pt raised from $30 to $35: Mizuho
  • PRE: pt raised from $119 to $130: RBC Capital
  • NKE: pt raised from $115 to $125: Macquarie
  • NKE: pt raised from $115 to $120: Piper Jaffray
  • NKE: pt raised from $110 to $125: Nomura
  • MU: pt cut from $41 to $34: Stifel
  • MU: pt cut from $25 to $23: Nomura
  • MU: pt cut from $35 to $27: UBS

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Leave a Reply 2 comments

bob curran Reply

SUNE————-long————till wrong—-swing till 39.00

Marian Boyle Reply

Bob,

I agree. This has been a great long.

Have a great weekend!
Marian

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