NFLX | Morning News

stock market newsJULY 09, 2015

US futures firmly in the green at this 7AM hour, following European markets higher. In Asia,  the Shanghai rallied 5.75% after China pulled out the heavy guns that saw securities regulators banning shareholders with large stakes in listed firms from selling. Overnight, oil rose more than 1% breaking its 5 session losing streak.

NEWS:

  • CSII: discloses that it faces a whistleblower lawsuit, that the company was involved in kickbacks and filing false claims
  • IBM: IBM’s New Chip Is Four Times as Powerful as Today’s Best Silicon, reports gizmodo
  • ANTH: announces public offering of common stock
  • REGN: SNY: Praluent Injection Phase 3 meets primary endpoint
  • FB: TWTR: Live streaming app Meerkat announces the ability to sign up on the platform through Facebook instead of Twitter, a feature that lets you invite those watching your stream to take over that stream

ON THE ECONOMIC CALENDAR:

  • VARIOUS TIMES: Chain Store Sales
  • 8:30AM: Weekly Jobless Claims
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10:15AM: Fed’s Brainard speaks on regulatory reform ( a voting member)
  • 10:30AM: EIA Natural Gas Inventory
  • 12:30PM: Fed’s George speaks on “Monetary Policy and Economic Outlook” (not a voting member)
  • 1PM: $13B, 30 Year Note Auction
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS:

  • PEP: Q2 EPS of $1.32 beats by $0.08.Revenue of $15.92B beats by $90M: raises FY15 core EPS view to up 8% from up 7%
  • WBA: FQ3 EPS of $1.02 beats by $0.15.Revenue of $28.79B misses by $840M: raises FY15 adjusted EPS to $3.70-$3.80 vs. consensus $3.64

RECAP OF NOTABLE EARNINGS FROM LAST NIGHT:

  • AA: Q2 EPS of $0.19 misses by $0.04.Revenue of $5.9B beats by $110M: free cash flow for the quarter $205M
  • WDFC: FQ3 EPS of $0.75 misses by $0.01.Revenue of $92.49M misses by $6.91M

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • CUDA, HELE, PSMT, VOXX

ANALYSTS’ RATINGS: CHANGES:

UPGRADES:

  • PNRA: upgrade: sell to neutral: Goldman:$172
  • MBLY: upgrade: neutral to outperform: Baird: pt raised from $47 to $73
  • JBHT: upgrade: neutral to buy: Longbow

DOWNGRADES:

  • DNKN: downgrade: buy to neutral: Goldman: $55
  • SHAK: downgrade: neutral to sell: Goldman: $37
  • AMGN: downgrade: buy to neutral: UBS: $165
  • REGN: downgrade: neutral to sell: UBS: $500

INITIATIONS:

  • P: initiated: outperform: Northland: $20
  • ENV: initiated: outperform: Northland: $50
  • GWB: initiated: overweight: JP Morgan: $30
  • RARE: initiated: outperform: JMP Securities: $119

PRICE TARGET CHANGES:

  • TWX: pt raised from $107 to $108: Topeka Capital
  • EA: pt raised from $69 to $72: Piper Jaffray
  • NFLX: pt raised to $750: Nomura
  • HALO: pt raised from $21 to $28: UBS
  • BMRN: pt raised to $155: UBS
  • DDD: pt cut from $18 to $16: Piper Jaffray
  • CYOU: pt cut from $34 to $28: Summit Research
  • URI: pt cut from $123 to $110: Piper Jaffray

 

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