LNKD | Morning News

OCTOBER 30.2015

Trader EducationUS futures point to a muted opening at this hour as global markets look to close out the best month in years. Overnight, crude reversed its gain to trade lower on the same old concerns regarding a glut in supply and weakness in demand

NEWS:

  • V: Visa Nears $22 Billion Deal to Buy European Counterpart, reports the wsj
  • CELG: announces approval of Vidaza by the European Commission
  • VRX: United Health’s Optum joins CVS, Express Scripts in cutting ties with Phildor
  • FB:Facebook is testing a new feature that makes it more like Craigslist, reports business insider
  • MNK: announces approval for INOmax in both Australia and Japan
  • NOC: NASA Jet Propulsion Laboratory Selects Northrop Grumman”s Astro Aerospace for NISAR Reflector, reports nasdaq

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Personal Income and Outlays
  • 8:30AM: Employment Cost Index
  • 9:45AM: Chicago PMI
  • 10AM: Reuters/UofM Consumer Sentiment

NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • LNKD: Q3 EPS of $0.78 beats by $0.32: revenue of $779.6M beats by $23.96M: revenue +37.2% y/y: guides earnings above estimates
  • EA: FQ2 EPS of $0.65 beats by $0.20: revenue of $1.15B beats by $50M: revenue -5.7% y/y: raises guidance
  • SBUX: FQ4 EPS of $0.43 in-line: revenue of $4.91B beats by $10M: revenue +17.5% y/y” guides below consensus
  • FSLR: Q3 EPS of $3.38 may not be comparable to consensus of $1.55: revenue of $1.27B beats by $160M: revenue +42.8% y/y: raises guidance
  • BIDU:Q3 EPS of RMB9.07 beats by RMB1.90: revenue of RMB18.38B in-line: revenue +35.9% y/y:  guides revenue below consensus: board authorizes new share repurchase program
  • COLM: Q3 EPS of $1.28 beats by $0.19: revenue of $767.6M beats by $28.87M: revenue +13.7% y/y: raises guidance in-line with consensus
  • BMRN: Q3 EPS of -$0.60 beats by $0.05: revenue of $208.9M misses by $7.71M: revenue +18.3% y/y: guidance raises FY15 revenue view to $880M-$900M vs consensus $897.92M
  • LEG: Q3 EPS of $0.67 beats by $0.11: revenue of $1.01B misses by $40M: revenue +1.3% y/y
  • RKUS: Q3 EPS of $0.13 beats by $0.01: revenue of $99M beats by $1.96M: revenue +16.5% y/y: guides in-line
  • DECK:FQ2 EPS of $1.11 beats by $0.05.Revenue of $506.2M beats by $19.4M: revenue +5.4% y/y: guides Q3 below consensus: raises FY earnings guidance
  • EXPE: Q3 EPS of $2.07 beats by $0.05: revenue of $1.94B misses by $20M: revenue +13.5% y/y: Q3 gross bookings $15.39B vs $12.74B last year
  • SCTY:Q3 EPS of -$2.41 misses by $0.46: revenue of $113.86M beats by $2.43M: revenue +95.2% y/y: guides Q4 adjusted EPS ($2.75)-($2.60), consensus ($2.17)

NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • WY: Q3 EPS of $0.35 beats by $0.10: revenue of $1.82B: revenue -5.2% Y/Y
  • XOM: Q3 EPS of $1.01 beats by $0.12: revenue of $67.34B beats by $3.59B: revenue -37.1% y/y
  • ABBV:Q3 EPS of $1.13 beats by $0.05: revenue of $5.94B beats by $60M: revenue +18.3% y/y: raises FY15 guidance above consensus: raises dividend 12% from $0.51 to $0.57 per share
  • CVS:Q3 EPS of $1.29 in-line: revenue of $38.64B beats by $750M: revenue +10.3% y/y: soft guidance
  • CL:Q3 EPS of $0.72 in-line: revenue of $4B misses by $70M: revenue -8.7% y/y
  • BIN:Q3 EPS of $0.35 beats by $0.06: revenue of $488.53M misses by $0.77M: revenue -6.3% y/y: guidance cut FY15 EPS view to $1.18-1.22 from $1.20-1.34
  • NWL:Q3 EPS of $0.62 beats by $0.01: revenue of $1.53B misses by $10M: revenue +3.4% y/y: reaffirms FY15 guidance: raises FY15 sales growth guidance
  • AON:Q3 EPS of $1.24 in-line: revenue of $2.74B misses by $120M: revenue -4.9% y/y
  • STX:FQ1 EPS of $0.54 misses by $0.05: revenue of $2.93B misses by $10M: revenue -22.5% y/y
  • CPN:Q3 Adjusted Net Income of $347M: revenue of $1.95B beats by $160M: revenue -11% y/y
  • EXC:Q3 EPS of $0.83 beats by $0.11: revenue of $7.41B beats by $810M: revenue +11.3% y/y
  • LM:FQ2 EPS of $0.89 beats by $0.25: revenue of $673.1M misses by $17.68M: revenue -4.4% y/y
  • MYL:Q3 EPS of $1.43 beats by $0.05: revenue of $2.71B misses by $70M: revenue +30.3% y/y
  • CBOE:Q3 EPS of $0.76 beats by $0.03: revenue of $187M beats by $6.86M: revenue +25.6% y/y
  • EGO: Q3 EPS of -$0.01 misses by $0.02: revenue of $211.52M beats by $13.22M: revenue -19.7% y/y

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • TILE: upgrade: hold to buy: Stifel: $24
  • VRTX: upgrade: neutral to buy: HC Wainwright: pt raised from $85 to $155
  • IMPV: upgrade: hold to buy: Topeka Capital: pt raised from $67 to $80
  • NVDA: upgrade: underweight to equal weight: Morgan Stanley: $28
  • SGEN: upgrade: underweight to neutral: Piper Jaffray: pt raised from $30 to $44
  • BEAV: upgrade: hold to buy: Canaccord: $60
  • CNNX: upgrade: neutral to outperform: Baird: $12

DOWNGRADES:

  • OII: downgrade: outperform to market perform: Cowen: pt cut from $47 to $40
  • BWA: downgrade: outperform to sector perform: RBC Capital: pt cut from $50 to $45
  • DWA: downgrade: neutral to underperform: BofA/Merrill: $16
  • SCTY: downgrade: conviction buy to neutral: Goldman: pt cut from $79 to $41
  • PZZA; downgrade: overweight to sector weight: KeyBanc
  • SWI: downgrade: buy to hold: Jefferies

INITIATIONS:

  • PXD: initiated: positive: Susquehanna: $162
  • EGN: initiated: sector perform: RBC Capital: $63
  • IMPV: initiated: neutral: DA Davidson: $71

PRICE TARGET CHANGES:

  • LNKD: pt raised from $240 to $287: Piper Jaffray
  • LNKD: pt raised from $230 to $285: Axiom Capital
  • LNKD: pt raised from $250 to $280: Pacific Crest
  • LNKD: pt raised from $200 to $232: Wedbush
  • LNKD: pt raised from $275 to $300: RBC Capital
  • MGM: pt raised from $26 to $28: Deutsche Bank
  • DECK: pt raised from $62 to $70: Brean Capital
  • SBUX: pt raised from $63 to $72: Piper Jaffray
  • SBUX: pt raised from $63 to $70: UBS
  • SBUX: pt raised from $60 to $68: JP Morgan
  • BIDU: pt raised from $210 to $220: Piper Jaffray
  • EA: pt raised from $75 to $84: Mizuho
  • EA: pt raised from $80 to $95: Jefferies
  • INTC: pt raised from $33 to $37: UBS
  • OSIS: pt raised from $90 to $95: Roth Capital
  • CRR: pt cut from $38 to $20: Cowen
  • CGI: pt cut from $30 to $27: Cowen
  • IMS: pt cut from $36 to $33: Mizuho
  • SPN: pt cut from $20 to $18: Imperial Capital
  • SPN: pt cut from $20 to $17: Cowen
  • RPRX: pt cut from $6 to $2: Piper Jaffray
  • PNK: pt cut from $38 to $36: Telsey Advisory
  • TSLA: pt cut from $210 to $190: UBS
  • SCTY: pt cut from $76 to $48: Canaccord

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