UNH | Morning News

fbNOVEMBER 19.2015

US futures surge higher as global markets continued their climb higher after minutes from the Fed’s most recent policy meeting strengthened expectations for a rate hike in December, a move that would remove lingering uncertainty in the financial markets. Overnight, crude gained in Asia trade as a buildup in weekly US stockpiles showed the smallest increase since the end of September.

NEWS:

  • KBIO: a group led by Martin Shkreli has taken a majority position in outstanding shares of the company
  • AAPL:Apple seeking second supplier for next-generation Apple Watch, reports digitimes
  • SUNE: Blackstone’s GSO will not backstop SunEdison debt, reports reuters
  • UNH: guides lower: cuts FY15 to $6.00 from $6.25-$6.35
  • LLY: MRK: Eli Lilly, Merck expand immuno-oncology collaboration
  • LLTP: FDA approves Adapt Pharma’s nasal spray for opioid overdose
  • SINA:Sina Finds Success in Alibaba Friendship, reports wsj
  • TRP: announces new layoffs
  • ATHX: MAPC effective in improving health of animals after acute rodent SCI
  • VZ:Verizon gets FCC waiver permitting Wi-Fi calling

THE ECONOMIC CALENDAR:

  • 8:30AM: Initial Jobless Claims
  • 8:30AM: Philly Fed Business Outlook
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Leading Indicators
  • 10:30AM: EIA Natural Gas Inventory
  • 4:30PM: Money Supply and Fed Balance Sheet

NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • GMCR:FQ4 EPS of $0.85 beats by $0.14: revenue of $1.04B beats by $10M: revenue -13.3% y/y: guides in-line
  • SINA:Q3 EPS of $0.39 beats by $0.19: revenue of $223.7M beats by $0.94M: revenue +14.1% y/y:
  • CRM:FQ3 EPS of $0.21 beats by $0.02: revenue of $1.71B beats by $10M: revenue +23.9$% y/y: strong guidance: guides FY17 revenue $8B-$8.1B vs. consensus $7.99B
  • NTAP: FQ2 EPS of $0.61 beats by $0.04: revenue of $1.45B beats by $20M: revenue -5.8% y/y: guides in-line
  • CTRP:Q3 EPS of $2.20 may not be comparable to consensus of $0.09: revenue of $501M beats by $10.36M: revenue +49.0% y/y: guides revenue above consensus
  • WB: Q3 EPS of $0.10 beats by $0.04: revenue of $124.7M beats by $2.9M: revenue +48.2$% y/y: guides in-line
  • TUMI:Q3 EPS of $0.22 beats by $0.01: revenue of $131.1M misses by $4.5M: revenue +0.7% y/y
  • LB: Q3 EPS of $0.55 beats by $0.03: revenue of $2.49B in-line: revenue +7.3% y/y: guides below consensus

NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • SSI:Q3 EPS of -$0.29 misses by $0.10: revenue of $351.58M misses by $8.09M: revenue -3.5% y/y: lowers guidance, cuts FY15 adjusted EPS to 70c-80c from $1.05-$1.15, consensus $1.00
  • KIRK:Q3 EPS of -$0.02 misses by $0.06: revenue of $129.24M misses by $2.03M: revenue +10.3% y/y: weak guidance
  • JKS:Q3 EPS of $1.04 beats by $0.02: revenue of $637.6M beats by $76.32M: revenue +52.8% y/y
  • CATO:Q3 EPS of $0.30 beats by $0.04: revenue of $225.47M in-line: revenue +4.4% y/y
  • SPB: FQ4 EPS of $1.13 misses by $0.03: revenue of $1.31B misses by $20M: revenue +11.0% y/y

NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • ADSK, ANW, ASYS, ESL, GPS, INTU, KEYS, MENT, MOMO, NGVC, NMBL, ROST, SPLK, TFM, WAIR, WDAY, WSM, ZOES

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • NGG: upgrade; sector perform to outperform: RBC Capital
  • GD: upgrade: hold to buy: Argus:
  • SUN: upgrade: perform to outperform: Credit Suisse
  • WEN: upgrade: neutral to conviction buy: Goldman (that’s a double upgrade)

DOWNGRADES:

  • BOOT: downgrade: outperform to market perform: Wells Fargo
  • BLMN: downgrade: conviction buy to buy: Goldman: pt cut from $24 to $22
  • EAT: downgrade; buy to neutral: Goldman
  • LONG: downgrade: buy to hold: Brean Capital
  • TWI: downgrade: neutral to sell: Goldman: pt cut from $8 to $3

INITIATIONS:

  • ORMP: initiated: outperform: FBR Capital: $15
  • AST: initiated: outperform: FBR Capital: $10

PRICE TARGET CHANGES:

  • CTRP: pt raised from $115 to $125: Piper Jaffray
  • CTRP: pt raised from $96 to $130: Brean Capital
  • CTRP: pt raised from $100 to $130: Oppenheimer
  • PRTA: pt raised from $75 to $95: RBC Capital
  • CRM: pt raised from $85 to $93: Wunderlich
  • CRM: pt raised from $85 to $95: Northland Capital
  • CRM: pt raised from $80 to $90: Mizuho
  • LOW: pt raised from $81 to $83: RBC Capital
  • CA: pt raised from $30 to $31: RBC Capital
  • LGND: pt raised from $138 to $144: Roth Capital
  • DIS: pt cut from $136 to $133: Topeka Capital
  • GMRC: pt cut from $58 to $50: Roth Capital
  • GES: pt cut from $21 to $17: Pivotal Research
  • WYNN: pt cut from $69 to $68: Telsey Advisory Group
  • VIPS: pt cut from $265 to $17: Brean Capital

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