FOMC decision | Morning News

FOMCSEPTEMBER 17.2015

US futures and markets around the world trading mixed at this 7AM hour as traders await a key decision on US interest rates to be announced today at 2PM EST. Meanwhile, a plethora of economic data is due out this morning including weekly jobless claims and the Philly Fed Business outlook. Overnight, crude pulled back from its recent gains also due to caution over an interest rate hike. ¬†Copper prices are on the rise after a major earthquake off the coast of Chili, the world’s largest copper producer.

NEWS:

  • LULU: NKE: UA: NYFW includes collections in athleisure
  • AIQ: Thai Hot Investment to take a 51.5% stake in Alliance HealthCare
  • CVC: French media giant Altice announces deal to buy Cablevision for $34.90 a share, or $17.7B
  • AEO: CEO announces purchase of 500K shares
  • GOOG: GOOGL: Google Glass is now ‘Project Aura;’ welcomes ex-Amazon employees, reports engadget
  • AAPL: S&P upgrades Apple to Strong Buy

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Housing Starts
  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Current Account
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Philly Fed Business Outlook
  • 10:30AM: EIA Natural Gas Inventory
  • 2PM: FOMC Announcement
  • 2PM: FOMC Forecast
  • 2PM: Chairman Press Conference
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS REPORTED BEFORE THE OPENING THIS MORNING:

  • RAD:FQ2 EPS of $0.02 misses by $0.02: revenue of $7.66B beats by $90M: revenue +17.5% Y/Y: guidance lowers FY16 EPS to 12c-19c from 14c-22c

EARNINGS REPORTED AFTER THE CLOSE YESTERDAY:

  • ORCL:FQ1 EPS of $0.53 beats by $0.01: revenue of $8.45B misses by $80M
  • MLHR:FQ1 EPS of $0.56 beats by $0.10: revenue of $564.4M beats by $10.05M: revenue +10.7% Y/Y

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • ADBE

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • RTN: upgrade: outperform to Top Pick: RBC Capital: $132
  • CUB: upgrade: neutral to outperform: Credit Suisse: $52
  • TJX: upgrade: neutral to buy: MKM Partners
  • ZUMZ: upgrade: hold to buy: Stifel: $18
  • HBI: upgrade: neutral to buy: Goldman: $40
  • NVDA: upgrade: hold to buy: Jefferies: $30

DOWNGRADES:

  • HAS: downgrade: buy to neutral: Goldman: $90
  • UBNT: downgrade: market perform to underperform: BMO Capital
  • CNV: downgrade: buy to hold: HSBC: $4.30

INITIATIONS:

  • MDRX: initiated: buy: Canaccord: $18
  • VJET: initiated: in-line: Imperial Capital: $8
  • TMH: initiated: buy: Canaccord: $74
  • SWK: initiated: buy: UBS: $120
  • WCC: initiated: neutral: UBS: $57

PRICE TARGET CHANGES:

  • UA: pt raised from $108 to $111: Telsey Advisory Group
  • TSLA: pt raised to $365: Jefferies
  • WWW: pt cut from $32 to $30: Telsey Advisory Group
  • ETN: pt cut from $28 to $30: Telsey Advisory Group
  • FDX: pt cut from $210 to $190: Cowen
  • MDR: pt cut from $3.50 to $7: Imperial Capital
  • ORCL: pt cut from $47 to $43: Wunderlich

 

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