NFLX | Morning News

NFLX Earnings TodayOCTOBER 15. 2015

US futures rebounding at this 8AM hour after yesterday’s selloff  with world markets broadly positives as investors look ahead to speeches by three Fed members and US data on consumer prices for further indications on the direction of interest rates. Analysts expect the headline CPI to fall 0.2% for the month, but anticipate that the core reading will inch up 0.1% for its August level. Gold prices held overnight gains and are heading higher for a fifth day, as a weaker dollar and soft US economic figures add to expectations the Fed will delay a rate hike in 2015.

NEWS:

  • MCD: McDonalds sees their newly launched ” all day breakfast” a success
  • VRX: has received two federal subpoenas related to its drug pricing, distribution and patient support practices, reports reuters
  • EA: ATVI: TTWO: GME: Teen demand for PS4, Xbox One game consoles strong, reports Investor’s Business Daily
  • LMT: McCain urges Pentagon to carefully examine Lockheed’s minehunter, reports reuters
  • UTHR: board approves additional $500M to share repurchase program
  • GWPH: Top Pick at Piper Jaffray: overweight: $147 pt
  • IMPR: issued Q3 revenue and EPS warning after the close yesterday
  • GRMN: issues Q3 warnings and cuts FY guidance
  • QUIK: pre-announces soft Q3 guidance
  • MTW: issues below estimates for Q3 results

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Consumer Price Index
  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Empire State Manufacturing Survey
  • 9:30AM: Fed’s Bullard Speaks (not a voting member)
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Philly Fed Business Outlook
  • 10:30AM: EIA Natural Gas Inventory
  • 10:30AM: Fed’s Dudley speaks (a voting member)
  • 11AM: EIA Petroleum Inventories
  • 3:30PM: Treasury Budget
  • 4:30PM: Fed’s Mester speaks  (not a voting member)
  • 4:30PM: Money Supply and Fed Balance Sheet

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • NFLX: Q3 EPS of $0.07 misses by $0.01: revenue of $1.74B (+23.4% Y/Y) misses by $10M: revenue +23.4% Y/Y: subscribers growth weak: guides in-line
  • XLNX:FQ2 EPS of $0.48 beats by $0.01: revenue of $527.57M misses by $2.01M: revenue -12.7% Y/Y: solid guidance
  • HCA: preliminary Q3 EPS of $1.17 misses by $0.05: revenue of $9.86B beats by $10M: weak guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • BBT: Q3 EPS of $0.70 beats by $0.03: revenue of $2.49B (+6.9% Y/Y) beats by $40M: revenue +6.9% Y/Y:
  • WTFC: Q3 EPS of $0.75 misses by $0.10: revenue of $230.49M misses by $5.55M: revenue +10.0% Y/Y
  • C: Q3 EPS (Excl. CVA/DVA) of $1.31 beats by $0.03: revenue of $18.5B misses by $40M: revenue -7.4% Y/Y
  • FCS: Q3 EPS of $0.20 in-line: revenue of $342.1M misses by $2.53M: revenue -10.2% Y/Y
  • GS:Q3 EPS of $2.90 misses by $0.01: revenue of $6.86B misses by $280M: revenue -18.2% Y/Y
  • KEY:Q3 EPS of $0.26 misses by $0.01: revenue of $1.07B beats by $20M: revenue +7.2% Y/Y
  • MTG:Q3 EPS of $0.29 beats by $0.08: revenue of $269.51M beats by $19.16M: revenue +14.6% Y/Y
  • PM: Q3 EPS of $1.24 beats by $0.13: revenue of $6.93B beats by $170M: revenue -11.8% Y/Y
  • PPG:Q3 EPS of $1.61 beats by $0.01: revenue of $3.87B misses by $180M: revenue -1.8% Y/Y
  • TSM: Q3 EPS of $0.46 beats by $0.01: revenue of NT$212.51B: revenue +1.7% Y/Y
  • UNH: Q3 EPS of $1.65 beats by $0.01: revenue of $41.5B beats by $1.32B: revenue +26.7% Y/Y : announces buy back of an additional $500M in 2016
  • USB:Q3 EPS of $0.81 in-line: revenue of $5.15B beats by $30M: revenue +3.2% Y/Y
  • WGO:FQ4 EPS of $0.43 misses by $0.04: revenue of $251M misses by $11.17M: revenue +2.1% Y/Y
  • WNS:FQ2 EPS of $0.51 beats by $0.08: revenue of $141M beats by $8.82M: revenue +5.1% Y/Y: raises guidance FY16 adjusted EPS to $1.83-1.91 from $1.69-1.80

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • AMD, ASB, MAT, SLB, WAL, WDFC, WYNN

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • DXCM: upgrade: neutral to buy: Sterne Agee: $90
  • DXCM: upgrade: market perform to outperform: Leerink:
  • SPN: upgrade: market perform to outperform: Cowen:
  • FB: upgrade: hold to buy: Argus: $115

DOWNGRADES:

  • IMPR: downgrade: outperform to market perform: Blair
  • IMPR: downgrade: overweight to neutral: JP Morgan: pt cut from $24 to $19
  • WMT: downgrade: buy to neutral: Credit Suisse: pt cut from $85 to $62
  • WMT: downgrade: buy to neutral: BofA/Merrill: $62
  • WMT: downgrade: overweight to equal weight: Stephens: pt cut from $80 to $58
  • ETN: downgrade: outperform to neutral: Baird: pt cut from $74 to $59
  • MTW: downgrade: buy to hold: Stifel
  • MTW: downgrade: outperform to neutral: Baird: pt cut from $22 to $15
  • MJN: downgrade: outperform to market perform: BMO Capital: $89

INITIATIONS:

  • AAPL: initiated: overweight: Barclays; $150
  • HPQ: initiated: underweight: Barclays: $26
  • XRX: initiated: underweight: Barclays: $10
  • CSCO: initiated: overweight:Barclays: $32
  • CDW: initiated: overweight: Barclays: $50
  • JNPR: initiated: equal weight:Barclays: $32
  • FFIV: initiated: equal weight: Barclays: $131
  • ATNM: initiated: outperform: FBR Capital: $12
  • WUBA: initiated: sell: CLSA: $48
  • HZN: initiated: buy: Roth Capital: $12
  • DE: initiated: outperform: Avondale: $90

PRICE TARGET CHANGES:

  • NKE: pt raised from $120 to $126: FBR Capital
  • NKE: pt raised from $130 to $140: Piper Jaffray
  • NFLX: pt raised from $96 to $109: Piper Jaffray
  • XLNX: pt raised from $47 to $50: FBR Capital
  • XLNX: pt raised from $37 to $50: Topeka Capital
  • ZFGN: pt cut from $60 to $48: FBR Capital
  • ZFGN: pt cut from $58 to $46: RBC Capital
  • MELI: pt cut from $150 to $120: Piper Jaffray
  • ASML: pt cut from $80 to $77: RBC Capital
  • BLK: pt cut from $388 to $384: RBC Capital
  • CFX: pt cut from $39 to $29: RBC Capital
  • EGN: pt cut from $85 to $78: Topeka Capital
  • GRMN: pt cut from $46 to $40: RBC Capital
  • HCA: pt cut from $103 to $86: Mizuho
  • MTW: pt cut from $19 to $16: RBC Capital
  • WMT: pt cut from $74 to $58: Jefferies
  • WMT: pt cut from $75 to $64: UBS
  • MNST: pt cut from $170 to $165: Stifel
  • IMPR: pt cut from $24 to $20: Stifel
  • CFX: pt cut from $52 to $32: Stifel
  • FEYE: pt cut from $50 to $37: Stephens
  • HCA: pt cut from $106 to $88: UBS

 

 

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