AMZN | Morning News

114060_Papel-de-Parede-World-Trade-Center--114060_1920x1200SEPTEMBER 11, 2015 “ALWAYS REMEMBER”

US futures poised to open lower at this 7AM hour as investors await the important FOMC announcement on interest rates next Wednesday. Economic data due out this morning  includes USPPI at 8:30AM and consumer sentiment after the market opens at 10AM. Crude continues its fall with Goldman warning that the commodity could fall to $20.

NEWS:

  • DIS: Disney to begin building two ‘Star Wars’ theme park areas in 2016, reports LA Times
  • WMT: Wal-Mart’s Suppliers Are Finally Fighting Back reports bloomberg
  • EA: ATVI: GME: TTWO: August NPD video game software sales down 10%
  • BA: Fragments recovered after fiery aborted Las Vegas takeoff indicate catastrophic engine failure reports AP
  • PFE: Pfizer Loses U.K. Patent Case Over Lyrica, reports wsj

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Producer Price Index
  • 10AM: Reuters/UofM Consumer Sentiment
  • 2PM: Treasury Budget

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT AFTER THE CLOSE:

  • ZUMZ: FQ2 EPS of $0.12 in-line: revenue of $179.82M in-line: guides below consensus
  • RH: FQ2 EPS of $0.85 beats by $0.01: revenue of $506.9M beats by $3.57M: raises guidance, bringing it in-line with consensus
  • FNSR:FQ1 EPS of $0.23 misses by $0.03.Revenue of $314.03M misses by $4.68M: soft guidance

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • CVX: upgrade: neutral to overweight: JP Morgan: $86
  • GTE: upgrade: sell to neutral: Goldman
  • EPC: upgrade: sell to neutral: UBS: cut pt from $92 to $90
  • BLCM: upgrade: neutral to buy: Guggenheim
  • CASY: upgrade: underperform to market perform: BMO Capital: $105
  • SYT: upgrade: market perform to outperform: Bernstein
  • WWAV: upgrade: market perform to outperform: Bernstein
  • BKU: upgrade: neutral to buy: BofA/Merrill
  • BP: upgrade: sell to neutral: Goldman
  • TOT: upgrade: neutral to Conviction buy: Goldman: (double upgrade)
  • LULU: upgrade: neutral to outperform: Baird

DOWNGRADES:

  • CHD: downgrade: neutral to sell: UBS: $78
  • HP: downgrade: hold to underperform: Jefferies: $40
  • PBR: downgrade: overweight to neutral: JP Morgan: pt cut from $10.50 to $7
  • ROP: downgrade: neutral to underweight: JP Morgan

INITIATIONS:

  • SAAS: initiated: buy: Jefferies: $11
  • DK: initiated: overweight: JP Morgan: $42
  • RRGB: initiated: buy: Maxim Group: $103
  • TXRH: initiated: buy: Maxim Group: $45
  • ZEN: initiated: outperform: RBC Capital: $27

PRICE TARGET CHANGES:

  • PANW: pt raised from $185 to $200: Imperial Capital
  • AMZN: pt raised to $705: RBC Capital
  • BMO: pt raised from $83 to $84: RBC Capital:
  • SLF: pt raised from $49 to $50: RBC Capital
  • MSTR: pt raised from $225 to $240: Deutsche Bank
  • BWA: pt cut from $56 to $50: RBC Captial
  • CHKE: pt cut from $33 to $26: Wunderlich
  • PAY: pt cut from $44 to $38: Imperial Capital
  • SGY: pt cut from $18 to $7: Imperial Capital
  • LULU: pt cut from $66 to $55: FBR Capital
  • ZUMZ: pt cut from $25 to $18: Mizuho
  • ZUMZ: pt cut from $21 to $16: Wolfe Research
  • FNSR: pt cut from $26 to $20: Piper Jaffray

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