Retail Sales Focus|Morning News

OCTOBER 14, 2015

US futures flat at this 8AM hour as global markets pull back and call/put ration hoists a warning flag. Overnight, economic data out of China was disappointing, yet again, as PPI falls 5.9% signaling the 43rd month of deflation. Crude slipped lower as over supply and concerns over China’s slowing economy weighed on the commodity.

NEWS:

JMBA: Morgan Stanley reports 5.1% stake in Jamba
SNDK: MU: WDC: Sandisk in merger talks with Micron and Western Digital, reports Financial Times
HABT: Wells Fargo reports 10.94% stake in Habit Restaurants
FB: Facebook testing dedicated video channel, rivaling YouTube
LLY: INCY:Eli Lilly, Incyte report positive topline results in phase 3 study of RA-BEAM
REGI: cuts Q3 guidance below consensus
LCI:Lannett reports FDA approval for Memantine Oral Solution 2 mg/mL
AAPL:Apple loses patent lawsuit to University of Wisconsin, faces hefty damages. reports reuters

ON THE ECONOMIC CALENDAR:

7AM: MBA Mortgage Applications
8:30AM: Producer Price Index
8:30AM: Retail Sales
10AM: Business Inventories
2PM: Fed’s Beige Book

NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

CSX:Q3 EPS of $0.52 beats by $0.02: revenue of $2.94B misses by $40M: revenue -8.7% Y/Y: weak guidance due to the domestic coal volume declining
INTC: Q3 EPS of $0.64 beats by $0.05: revenue of $14.47B beats by $250M: revenue -0.5% Y/Y: guides in-line
JPM:Q3 EPS of $1.32 misses by $0.05: revenue of $23.54B misses by $150M: revenue -6.4% Y/Y
VOXX:FQ2 EPS of -$0.18 may not be comparable to consensus of $0.08: revenue of $154.2M misses by $5.34M: revenue -13.0% Y/Y
HAWK: Q3 EPS of $0.35 beats by $0.05: revenue of $352.7M beats by $156.39M: revenue +31.1% Y/Y: soft guidance

NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

BAC:Q3 EPS of $0.37 beats by $0.04: revenue of $20.91B beats by $140M: revenue -2.4% Y/Y
CFX:Q3 EPS of $0.24 misses by $0.17.: revenue of $969.14M misses by $25.16M: revenue -16.5% Y/Y
BLK:Q3 EPS of $5.00 beats by $0.43: revenue of $2.91B beats by $90M: revenue +2.1% Y/Y
DAL:Q3 EPS of $1.74 beats by $0.03: revenue of $11.12B beats by $20M: revenue -0.5% Y/Y
PNC:Q3 EPS of $1.90 beats by $0.18: revenue of $3.78B misses by $20M: revenue -1.6% Y/Y
CBSH:Q3 EPS of $0.66 misses by $0.05: revenue of $273.18M misses by $9.62M: revenue +2.3% Y/Y
WFC:Q3 EPS of $1.05 in-line: revenue of $21.88B beats by $120M: revenue +3.2% Y/Y
JBHT:Q3 EPS of $0.99 beats by $0.02: revenue of $1.59B misses by $30M: revenue -0.6% Y/Y

SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE CLOSE TODAY: