GOOG | Morning News

Be_Prepared_copyOCTOBER 22, 2015

US futures point to a higher opening at this hour as markets trade mixed around the world. European markets did turn green after the ECB leaves  interest rates unchanged. Chinese stocks recovered overnight from a unexpected selloff in the previous session, though investors remained wary of weakness in the world’s second largest economy.

NEWS:

  • OCLR: pre-announces strong Q1 earnings expectation
  • NKE: University of Texas reaches 15 year deal with Nike, the richest in college sports
  • BA:Norwegian Air makes largest single order of Boeing Dreamliners in Europe, reports economictimes
  • AAPL: GOOG: GOOGL:Android Pay will eventually beat Apple Pay to capture a majority share of the global mobile payment market, reports digitmes in their research
  • GOOG: GOOGL: NFLX:Meet YouTube Red, Google’s attempt to compete with Netflix, reports gokicker
  • LULU: CPO announces exit from company
  • AMZN: announces Prime Now launches in San Francisco area
  • KORS: Einhorn’s Greenlight discloses new long position in KORS
  • UIL: Einhorn’s Greenlight discloses new long position in UIL
  • GMCR: Einhorn’s Greenlight discloses short position in GMCR

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Chicago Fed National Activity Index
  • 9AM: FHFA House Price Index
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Existing Home Sales
  • 10AM: Leading Indicators
  • 10:30AM: EIA Natural Gas Inventory
  • 11AM: Kansas City Fed Manufacturing Survey
  • 4:30PM: Money Supply and Fed Balance Sheet

NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • PFPT:Q3 EPS of -$0.06 beats by $0.05: revenue of $69.1M beats by $3.01M: revenue +37.7% y/y: mixed guidance
  • EBAY:Q3 EPS of $0.43 beats by $0.03: revenue of $2.1B beats by $10M: revenue -2.3% y/y: guidance raises FY15 EPS to $1.80-1.82 vs.  consensus $1.78
  • ELY: Q3 EPS of -$0.04 beats by $0.04: revenue of $175.78M beats by $6.04M: revenue+4.3% y/y: raises FY15 EPS to $0.12-0.15 from $0.01-0.06 vs consensus $0.06
  • LVS:Q3 EPS of $0.66 beats by $0.02: revenue of $2.89B misses by $80M: revenue -18.1% y/y: raises FY16 dividend by 10.8% to $2.88/share : Macau weighs on the revenue
  • AXP:Q3 EPS of $1.24 misses by $0.07: revenue of $8.19B misses by $130M: revenue -1.4% y/y: EPS guidance lowered
  • NOW:Q3 EPS of $0.15 beats by $0.07: revenue of $261.2M beats by $5M: revenue +46.2% y/y: cautious guidance
  • URI: Q3 EPS of $2.57 beats by $0.24: revenue of $1.55B in-line: revenue +0.6% y/y: reaffirms guidance FY15 revenue $5.8B-$5.9B vs. consensus $5.85B
  • TSCO: Q3 EPS of $0.64 beats by $0.01: revenue of $1.48B in-line: +8.8% y/y
  • TXN:Q3 EPS of $0.76 beats by $0.08: revenue of $3.43B beats by $150M: revenue -2.0% y/y: guides above consensus: vies Q4 EPS $0.64- 0.74 vs. consensus $0.62
  • EBAY:Q3 EPS of $0.43 beats by $0.03: revenue of $2.1B beats by $10M: revenue -2.3% y/y: guides in-line
  • CTXS:Q3 EPS of $1.04 beats by $0.20: revenue of $813.3M beats by $27.28M: revenue +7.2% y/y: raises guidance
  • FTK:Q3 EPS of $0.04 misses by $0.01: revenue of $87.9M misses by $7.7M: revenue -24.7%y/y

NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • PRGO:Q3 EPS of $1.76 beats by $0.03: revenue of $1.34B misses by $80M: revenue +40.8% y/y
  • CAT: Q3 EPS of $0.75 misses by $0.03: revenue of $10.96B misses by $290M: revenue -19.1% y/y: cuts guidance
  • MJN: Q3 EPS of $0.80 misses by $0.04: revenue of $977.5M misses by $42.5M: revenue -10.3% y/y: announces $1.5B share repurchase authorization: weak FY15 guidance
  • UA: Q3 EPS of $0.45 beats by $0.01: revenue of $1.2B beats by $20M: revenue +27.9% y/y: strong FY15 guidance
  • LLY:Q3 EPS of $0.89 beats by $0.13: revenue of $4.96B misses by $30M: revenue +1.6% y/y: guidance raised FY15 adjusted EPS  to $3.40-$3.45 from $3.20-$3.30 
  • DHR:Q3 EPS of $1.05 beats by $0.02: revenue of $5.03B misses by $30M: revenue +6.7% y/y
  • DPS:Q3 EPS of $1.08 beats by $0.05: revenue of $1.63B beats by $30M: revenue +3.2% y/y
  • DOW:Q3 EPS of $0.82 beats by $0.13: revenue of $12.04B misses by $340M: revenue -16.4% y/y: accelerates buyback program
  • SWK:Q3 EPS of $1.60 beats by $0.16: revenue of $2.83B beats by $20M: revenue -2.4% y/y
  • MMM:Q3 EPS of $2.05 beats by $0.05: revenue of $7.71B misses by $140M: revenue -5.3% y/y: lowers guidance: jobs cut announced
  • AEP:Q3 EPS of $1.06 beats by $0.05: revenue of $4.4B misses by $20M: revenue +4.8$ y/y
  • RTN:Q3 EPS of $1.47 beats by $0.04: revenue of $5.78B beats by $20M: revenue +5.7% y/y
  • PTEN: Q3 EPS of -$0.26 beats by $0.08: revenue of $422.25M beats by $10.88M: revenue -50.1% y/y
  • ALK:Q3 EPS of $2.16 beats by $0.06: revenue of $1.52B in-line: revenue $4.1% y/y
  • DNKN: Q3 EPS of $0.52 beats by $0.01: revenue of $209.8M beats by $5.67M: revenue +8.9% y/y
  • LUV: Q3 EPS of $0.94 beats by $0.02: revenue of $4.32B misses by $790M: revenue -10.0 % y/y
  • PHM:Q3 EPS of $0.33 misses by $0.10: revenue of $1.51B misses by $260M: revenue -5.0% y/y
  • SIRI: Q3 EPS of $0.03 in-line: revenue of $1.17B beats by $20M: revenue +10.4% y/y: total paid subscribers + 8% to approximately 29M, a record high: self-pay subscribers +8% to 23.8M, a record high
  • CAB: Q3 EPS of $0.71 misses by $0.02: revenue of $926.52M misses by $44.91M: revenue +4.6% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ALGN, ALTR, AMZN, ATHN, BAS, BCR, BYD, CHE, COF, CYN, CYT, DV, EGHT, ETFC, FSL, FTNT, GHL, GIMO, GOOG, IG, JNPR, LOGM, LSTR, MKTO, MSFT, MXIM, N, NTGR, P, PACB, PEB, PFG, QLGC, QLIK, QSII, RMD, SKX, SWN, SYK, SYNA, T, TRN, UCTT, VRSN, WRE

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • MKTX: upgrade: market perform to outperform: Keefe Bruyette: $105
  • ERII: upgrade: neutral to outperform: Credit Suisse:
  • SNH: upgrade: underperform to market perform: Wells Fargo: pt range raised from $14-15 to $16-17
  • WDC: upgrade: sell to neutral: UBS

DOWNGRADES:

  • SBH: downgrade: outperform to underperform: Wells Fargo
  • LPNT: downgrade: buy to neutral: Mizuho: pt cut from $93 to $74
  • RHT: downgrade: outperform to market perform: Cowen: $82
  • KMI: downgrade: buy to neutral: Credit Suisse: $39
  • CYH: downgrade: buy to neutral: Mizuho: pt cut from $77 to $34
  • THC: downgrade: buy to neutral: Mizuho: pt cut from $68 to $30
  • PII: downgrade: outperform to market perform: Wells Fargo: pt range cut from $147-154 to $105-110

INITIATED/RESUMED:

  • BIN: initiated: underweight: Barclays: $22
  • COH: resumed: outperform: Wells Fargo
  • V: resumed: outperform: Wells Fargo
  • HBI: resumed: outperform: Wells Fargo: pt range $34-36
  • LB: resumed: outperform: Wells Fargo:
  • ROST: resumed: outperform: Wells Fargo
  • CRI: resumed: outperform: Wells Fargo: pt range $104-106
  • TIF: resumed: underperform: Wells Fargo
  • SIG: resumed: Top Pick: Wells Fargo

PRICE TARGET CHANGES:

  • CTXS: pt raised from $80 to $83: FBR Capital
  • LCRX: pt raised from $52 to $56: RBC Capital
  • MXIM: pt raised from $37 to $41: RBC Capital
  • KLAC: pt raised from $60 to $67: Cowen
  • MLNX: pt raised from $40 to $48: Topeka Capital
  • BABY: pt raised from $51 to $53: Roth Capital
  • TXN; pt raised from $55 to $58: FBR Capital
  • TXN: pt raised from $55 to $62: UBS
  • TYL: pt raised from $160 to $200: Northland Capital
  • IPG: pt raised from $25 to $27.50: Telsey Advisory
  • BA: pt raised from $145 to $149: RBC Capital
  • PFPT: pt raised from $73 to $75: RBC Capital
  • AMP: pt cut from $143 to $136: RBC Capital
  • CSL: pt cut from $106 to $89: RBC Capital
  • EBAY: pt cut from $68 to $32: Topeka Capital
  • BIIB: pt cut from $380 to $360: Wainwright
  • KMB: pt cut from $110 to $114: RBC Capital
  • KMI: pt cut from $39 to $36: RBC Capital
  • STJ: pt cut from $75 to $66: RBC Capital
  • CYH: pt cut from $77 to $46: UBS

 

 

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