AAPL | Morning News

SEPTEMBER 8, 2015

Volatility continues. sector rotationUS futures soar, up almost 2%, ¬†at this 7AM hour following Europe into the green after the eurozone revised economic growth upwards and hopes that Shanghai will announce further stimulus and Bejing announced plans to introduce a “circuit breaker” for its stock exchanges.

NEWS:

  • AMZN: Amazon.com Inc plans to release a $50 tablet in time for the holiday season, reports reuters
  • LMT: Lockheed Martin wins 10-year Navy contract worth up to $428M
  • TE: Emera to acquire TECO Energy in $10.4B deal ($27.55/share)
  • AAPL :iPhone supply chain makers set to see strong sales in September, reports digitimes
  • BABA: Alibaba announces strategic partnership with Germany’s METRO Group
  • BIDU:According to the CEO, Uber to enter 100 more Chinese cities over the next 12 months, reports reuters
  • JD: launches $1B share repurchase
  • SSNLF: Samsung to cut 10% of headquarters employees, reports bloomberg
  • DIS: AMZN: MSFT:Amazon and Microsoft’s stores connect to Disney Movies Anywhere, reports engadget
  • NFLX: Netflix releases trailer for its first feature film, the controversial “Beasts of No “

ON THE ECONOMIC CALENDAR:

  • 6AM: NFIB Small Business Optimism Index
  • 8:30AM: Gallup US Consumer Spending Measure
  • 10AM: Labor Market Condition Index
  • 12:30PM: TD Ameritrade IMX
  • 1PM: $24B, 3 Year Note Auction
  • 3PM: Consumer Credit

EARNINGS REPORTED BEFORE THE OPENING:

  • YGE:Q2 EPS of -$0.53 misses by $0.31: revenue of $438.08M misses by $56.54M: revenue =20.3% Y/Y

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • CASY, FCEL, HQY, KFY, MW, PBY, PLAY, PPHM, PSUN, SPA, TIVO

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • REGN: upgrade: sell to buy: UBS: $565 (that’s a double upgrade!)
  • AMGN: upgrade: neutral to buy: UBS: pt raised from $165 to $168
  • ACHN: upgrade: neutral to buy: UBS: $11.50
  • FIT: upgrade: equal weight to overweight: Morgan Stanley: $58
  • BAC: upgrade: neutral to buy: Nomura:
  • MC: upgrade: underperform to neutral: Credit Suisse: $28
  • SNDK: upgrade: neutral to overweight: JP Morgan: $70
  • WFC: upgrade: hold to buy: Evercore: $57
  • AET: upgrade: sector perform to outperform: RBC Capital: $162
  • COT: upgrade: sector perform to outperform: RBC Capital
  • SWN: upgrade: underperform to neutral: Credit Suisse: pt cut from $19 to $18
  • WEC: upgrade; market perform to outperform: Wells Fargo
  • AEP: upgrade: neutral to buy: Guggenheim
  • PG: upgrade: neutral to buy: SunTrust: $80
  • MU: upgrade: neutral to buy: MKM Partners: $23
  • TFM: upgrade: underperform to neutral: Sterne Agee

DOWNGRADES:

  • INFN: downgrade: neutral to sell: Goldman: pt cut from $24 to $19
  • CCE: downgrade: outperform to sector perform: RBC Capital: $54
  • MRVL: downgrade: overweight to neutral: JP Morgan: $12
  • EOG: downgrade: outperform to neutral: Credit Suisse: $84
  • PZN: downgrade: overweight to neutral: JP Morgan: pt cut from $13 to $9

INITIATIONS:

  • SSS: initiated: buy: Evercore: $97
  • TNP: initiated: buy: Evercore:
  • GBT: initiated: overweight: Morgan Stanley: $67
  • FB: initiated: buy: Moffett Nathanson: $105
  • GOOG: GOOG: initiated: buy: Moffett Nathanson: $730
  • NTAP: initiated: neutral: Susquehanna: $32
  • SIMO: initiated: positive: Susquehanna:$35
  • NMBL: initiated: positive: Susquehanna: $35

PRICE TARGET CHANGES:

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