AOL | Morning News

APRIL 12, 2015

US futures plunge after most overseas markets slide into the red, along with European government bonds. As earnings season raps up, cautious investors look to chain store sales, the business optimism index and the note auction later today.

NEWS:

  • SUNE: files to sell $750M convertible senior notes
  • SUNE: SunEdison Signs Agreement with Alameda County for Additional 3 MW of Solar, reports prnewswire
  • VZ: AOL: Verizon to buy AOL for $4.4B, reports the wsj
  • BABA: AAPL:Cook says Apple in talks with Alibaba over Apple Pay in China, reports reuters
  • CL:Henkel to buy Colgate-Palmolive’s Australia, NZ laundry brands for 220M euros, reports reuters
  • TSLA:FTC Officials Back Tesla’s Right To Sell Cars Direct To Consumers, reports TechCrunch
  • SPPI: Armistice Capital files 5.4% stake in SPPI
  • TASR:Louisville Metro Police to Deploy 988 Axon Body-Worn Cameras on EVIDENCE.com and MediaSolv Solution, reports prnewswire
  • BIDU: confirms internal anti corruption probe, reports chinadaily

ON THE ECONOMIC CALENDAR:

  • 8:55AM: Redbook Chain Store Sales
  • 9AM: NFIB Small Business Optimism Index
  • 10AM: Job Openings and labor Turnover Survey
  • 12:45PM: Fed’s Williams speaks: Economic Outlook
  • 1PM: $24B, 3 Year Note Auction
  • no time given: API initial US oil inventory data
  • 2PM: Treasury Budget

EARNINGS: 

  • CGIX:Q1 EPS of -$0.44 beats by $0.10.Revenue of $4.37M (+205.6% Y/Y) beats by $0.51M
  • IOC: Q1 EPS of -$0.44 misses by $0.04: revenue of $13.22M (+595.8% Y/Y) beats by $12.12M

RECAP OF SOME NOTABLE EARNINGS AFTER YESTERDAY’S CLOSE:

  • DRYS:Q1 EPS of -$0.04 misses by $0.07.Revenue of $492.11M (+7.6% Y/Y) beats by $9.61M
  • OMER:Q1 EPS of -$0.51 beats by $0.12.Revenue of $0.39M (+290.0% Y/Y) beats by $0.27M
  • RAX:Q1 EPS of $0.20 in-line.Revenue of $480.2M (+14.1% Y/Y) misses by $1.37M: cautious guidance

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

CARA, CDNA, EC, FMSA, GDDY, HDP, INGN, NLST, PE, VJET, Z

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • JNPR: upgrade: neutral to buy: BofA/Merrill: pt raised from $27 to $34
  • EW: upgrade: equal weight to overweight: JP Morgan: pt raised from $147 to  $155

DOWNGRADES:

  • RAX: downgrade: overweight to equal weight: Morgan Stanley: $49
  • MELI: downgrade: buy to hold: Stifel
  • ROSE: downgrade: overweight to sector weight: KeyBanc
  • MITT: downgrade: outperform to market perform: Keefe Bruyette: $19
  • GPS: downgrade: outperform to market perform: FBR Capital: $40

INITIATIONS:

  • ISRG: initated: neutral: Piper: $505
  • WDC: initiated: buy: Benchmark Co: $117
  • INFN: initiated: buy: Deutsche Bank: $25

PRICE TARGET CHANGES:

  • NICE: pt raised from $65 to $74: Imperial Capital
  • TJX: pt raised from $63 to $67: UBS
  • TSCO: pt raised from $88 to $100: Credit Suisse
  • KSS: pt raised from $82 to $85: Jefferies
  • GPS: pt cut from $46 to $43: Mizuho
  • BDSI: pt cut from $17 to $12: Cantor

 

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