Jobs | Morning News

0207-JobsNOVEMBER 04.2015

US futures poised to open modestly higher at this hour as traders sift through earnings reports and await ADP jobs data before the opening. Chinese stocks spike higher overnight on news the country would further open its markets to foreign investment by establishing a trading link between Shenzhen and Hong Kong.

NEWS:

  • LMT:Lockheed wins preliminary deal worth up to $5.37 billion for more F-35s, reports reuters
  • UA: CEO discloses plans to sell shares, reports the sec
  • RRC: announces agreement to sell its Nora assets in southwest Virginia to an unnamed buyer for $876M

ON THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 8:15AM: ADP Jobs Report
  • 8:30AM: International Trade
  • 8:30AM: Gallup US Jobs Creation Index
  • 8:30AM: Treasury Refunding Quarterly Annoucement
  • 9:45AM: PMI Services Index
  • 10AM: ISM Non-Manufacturing Index
  • 10AM: Janet Yellen testifies before the House Financial Services
  • 10:30AM: EIA Petroleum Inventories
  • 1PM: $26B 2 Year Note Auction

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • TSLA: Q3 EPS of -$0.58 misses by $0.08: revenue of $1.24B misses by $20M: revenue +33.0% y/y: names Google VP its new CFO, hires global sales/service chief: guides revenue in-line
  • GRPN:Q3 EPS of $0.05 beats by $0.03: revenue of $713.6M misses by $19.14M: revenue -5.7% y/y: guides light
  • CERN:Q3 EPS of $0.54 in-line: revenue of $1.13B misses by $40M: revenue +34.5% y/y: guides FY16 adjusted EPS $2.30-$2.40 vs. consensus $2.53
  • ETSY:Q3 EPS of -$0.06 in-line: revenue of $65.7M misses by $0.47M: revenue +37.9% y/y: cautious Q4 guidance
  • ENPH:Q3 EPS of $0.01 misses by $0.02: revenue of $102.9M in-line: revenue +3.8% y/y: weak guidance
  • ZEN:Q3 EPS of -$0.05 beats by $0.04: revenue of $55.66M beats by $3.42M: revenue +64.1% y/y: strong guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • SSYS: Q3 EPS of $0.01 misses by $0.01: revenue of $167.58M misses by $4.62M: revenue -17.7% y/y
  • KORS:FQ2 EPS of $1.01 beats by $0.12: revenue of $1.13B beats by $50M: revenue +6.6% y/y: guides Q3 EPS $1.44-1.48 vs consensus $1.53: guides FY16 EPS $4.38-4.42 vs. consensus $4.31
  • CTSH: Q3 EPS of $0.76 in-line: revenue of $3.19B beats by $30M: revenue +23.6% y/y
  • CHK:Q3 EPS of -$0.05 beats by $0.08: revenue of $2.89B misses by $130M: revenue -49.3% y/y
  • BSFT:Q3 EPS of $0.36 beats by $0.03: revenue of $69.1M beats by $1M: revenue +26.5% y/y
  • MSI:Q3 EPS of $0.82 beats by $0.09: revenue of $1.42B beats by $10M: revenue -1.4% y/y
  • SODA: Q3 EPS of $0.22 beats by $0.01: revenue of $110M misses by $1.74M: revenue -12.6% y/y
  • TWX:Q3 EPS of $1.25 beats by $0.16: revenue of $6.56B beats by $50M: revenue +5.1% y/y
  • SE: Q3 EPS of $0.23 beats by $0.01: revenue of $1.10B misses by $200M: revenue -9.1% y/y
  • AVP: Q3 EPS of -$0.11 misses by $0.19: revenue of $1.67B misses by $10M: revenue -22% y/y
  • AGN:Q3 EPS of $3.48 beats by $0.29: revenue of $4.09B beats by $60M: revenue +90.2% y/y
  • WEN:Q3 EPS of $0.09 beats by $0.01: revenue of $464.63M  beats by $26.63M: revenue -6.5% y/y
  • CLH:Q3 EPS of $0.69 misses by $0.04: revenue of $893.4M misses by $1.77M: revenue +4.9% y/y
  • REGN: Q3 EPS of $3.47 beats by $0.27: revenue of $1.14B beats by $90M: revenue +57.1% y/y:raises FY15 Eylea U.S. revenue growth to 50%-55% from 45%-50%

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ACAS, ACLS, ACXM, AEL, AHT, ALB, ALR, ATO, AVG, AWAY, AWK, BGC, BKCC, BKD, CAA, CBPX, CCRN, CDI, CDXS, CF, CJES, CLR, CNAT, CODI, COHR, CPE, CSC, CSGS, CSII, CSLT, CTL, CVG, CVT, CXO, CXW, DCO, DOOR, DPM, DXCM, DYN,  EOX, EPAM, EPM, EQC, ETE, ETP, EVAR, EVTC, EXAM, FB, FC, FEYE, FLT, FOE, FPRX, FRSH, FRT, FTD, FUEL, G, GDDY, GPOR, GTY, GUID, HABT, HDP, HIVE, HOLX, HR, IL, IO, JKHY, JONE, JRVR, KAI, KAR, KIM, KING, KND, KW, LCI, MB, MBI, MCHP, MCHX, MELI, MET, MHLD, MITT, MNTX, MRIN, MRO, MTDR, MTRX, MUSA, MWA, MYRG, NLY, NNBR, NOG, NP, NWPX, OME, OSUR, PDLI, PE, PEIX, PFMT, PFSI, PGTI, PHH, PMT, POWR, PRA, PRI, PRU, PSEC, QCOM, QUOT, RDEN, RENT, RGR, RIG, RLJ, RNR, RST, SBAC, SBY, SCSS, SD, SF, SGM, SLF, SPPI, SQNM, STR, SUN, SWM, SXL, TCAP, TEP, TROX, TS, TSE, TUMI, TWO, TXMD, UHAL, VEC, VVUS, WFM, WMGI, WPX, WRK, WSR, WTI

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • HPQ: upgrade: underweight to equal weight: Barclays
  • WBMD: upgrade: hold to buy: Stifel: $52
  • AEO: upgrade; hold to buy: B Riley: $20
  • LPX: upgrade: outperform to Top Pick: RBC Capital: pt raised from $20 to $22
  • HL: upgrade; market perform to outperform: BMO Capital: pt raised from $2 to $3
  • RRC: upgrade: neutral to buy: Ciit: $40
  • K: upgrade: underperform to neutral: Credit Suisse
  • NOK: upgrade: market perform to outperform: BMO Capital
  • NGLS: upgrade: sell to neutral: Goldman: $33

DOWNGRADES:

  • HPQ: downgrade: overweight to neutral: pt cut from $31 to $14
  • AIG: downgrade: perform to underperform: Avondale Partners: $70
  • KMT: downgrade: neutral to underperform: BofA/Merrill: pt cut from $26 to $23
  • CAR: downgrade: buy to neutral: JP Morgan: $49
  • CNO: downgrade: outperform to market perform: Keefe Bruyette: $21
  • NS: downgrade: overweight to neutral: JP Morgan: pt cut from $69 to $59
  • NS: downgrade: buy to neutral: Stifel
  • IOC: downgrade: conviction buy to neutral: Goldman
  • ENPH: downgrade: buy to neutral: Roth Capital: pt cut from $4.50 to $3
  • GRPN: downgrade: neutral to underperform: BofA/Merrill: pt cut from $5.50 to $2.75
  • GRPN: downgrade: overweight to neutral: Piper Jaffray
  • SWI: downgrade: outperform to market perform: FBR Capital: pt raised from $52 to $60
  • MNKD: downgrade: outperform to underperform: RBC Capital: pt cut from $9 to $1
  • DSW: downgrade: outperform to market perform: Telsey Advisory: pt cut from $32  to $23

INITIATIONS:

  • CAB: initiated: overweight: Barclays: $50
  • MDCO: initiated: buy: Chardan Capital: $50
  • DOW: initiated: equal weight: Barclays: $56

PRICE TARGET CHANGES:

  • ATVI: pt raised from $31 to $42: Mizuho
  • ATVI: pt raised from $35 to $44: Cowen
  • JCOM: pt raised from $77 to $82: FBR Capital
  • LB: pt raised from $100 to $110: Mizuho
  • LB: pt raised from $87 to $97: RBC Capital
  • LTC: pt raised from $47 to $49: Mizuho
  • MYGN: pt raised from $38 to $42: Mizuho
  • PXD: pt raised from $174 to $178: Wunderlich
  • PXD: pt raised from $140 to $154: RBC Capital
  • Z; pt raised from $31 to $34: RBC Capital
  • OAS: pt raised from $14 to $15: RBC Capital
  • MAR: pt cut from $90 to $88: RBC Capital
  • AVR: pt cut from $27 to $25: Cowen
  • RBC: pt cut from $88 to $81: Wunderlich
  • TGH: pt cut from $20 to $16: Cowen
  • CBS: pt cut from $65 to $64: Topeka Capital
  • PETX: pt cut from $25 to $15: Piper Jaffray

About the Author

Leave a Reply 0 comments

Leave a Reply: