SEPTEMBER 4, 2015
US futures following the rest of the world markets deep into the red at this 7AM hour as traders turn their attention to the jobs report due out today at 8:30AM EST. Chinese markets remained closed and US markets will close on Monday for the holiday bringing some caution to trading today.
NEWS:
- TWTR:Twitter will open a service development center in Japan, the first such operation outside the U.S, reports nikkei
- AMZN: NFLX: Amazon ‘squarely in’ media production after deal, says Piper Jaffray, reports flyonthewall
- AAPL: Apple applies for patent for fuel cell system that could power a MacBook “for days or even weeks”, reports 9to5mac
- HAS: DIS: TGT: WMT: Force Friday: A Star Wars bonanza for toy makers, retailers, reports fortune
- NVS: announces FDA approval for Farydak
ON THE ECONOMIC CALENDAR:
- 8:30AM: Non-farm Payrolls: expectation 213K
- 8:30AM: Unemployment Rate: expectation 5.2%
- 8:30AM: Average Hourly Earnings: expectation +0.2%
RECAP OF SOME NOTABLE AFTER THE CLOSE YESTERDAY:
- COO: FQ3 EPS of $1.97 beats by $0.02: revenue of $461.68M misses by $2.44M: soft revenue guidance
- PAY: FQ3 EPS of $0.47 beats by $0.01: revenue of $510M beats by $9.21M: guides below consensus
- ESL: FQ3 EPS of $1.33 misses by $0.09: revenue of $496.21M misses by $34.78M: lowers guidance
- BLOX: FQ4 EPS of $0.12 beats by $0.02: revenue of $87M beats by $6.43M: revenue +34.0% Y/Y: mixed guidance
ANALYST’ RATINGS CHANGES:
UPGRADES:
- SKYW: upgrade: market perform to outperform: Cowen: pt raised from $16 to $19
- PSA: upgrade: market perform to outperform: Raymond James: $220
- BOFI: upgrade: outperform to strong buy: Raymond James: $145
- DLTR: upgrade: neutral to buy: BofA/Merrill: $88
- BGS: upgrade: equal weight to overweight: Stephens: pt raised from $31 to $39
- LPX: upgrade: sector perform to outperform: RBC Capital: pt raised from $16 to $19
- FTI: upgrade: underperform to neutral: Credit Suisse: $29
DOWNGRADES:
- CAT: downgrade: outperform to neutral: Baird: $77
- CAM: downgrade: overweight to equal weight: Barclays: $75
- SSS: downgrade: outperform to market perform: Raymond James:
- BP: downgrade: neutral to underperform: BofA/Merrill
- FBNK: downgrade: outperform to market perform: Keefe, Bruyette: $17.50
INITIATIONS:
- SUBK: initiated: buy: Maxim Group: $31
- VTVT: initiated: buy: Canaccord: $15
- VC: initiated: outperform: Baird: $123
PRICE TARGET CHANGES:
- LB: pt raised from $82 to $85: FBR Capital
- PFE: pt raised from $48 to $51: Piper Jaffray
- NCS: pt cut from $24 to $20: FBR Capital
- VTR: pt cut from $85 to $64: Mizuho