NFLX | Morning News

watch-market-news-436187460NOVEMBER 20.2015

US futures poised for a higher opening after global markets traded mixed overnight and investors look to close the week in positive territory. Crude prices steady overnight as traders look to rig count data later today at 1PM EST.

NEWS:

  • EW: Edwards Lifesciences announces Two-for-One Stock Split
  • AZN: SNY: AstraZeneca, Sanofi agree to share proprietary compounds, in a novel way to share early stage research
  • BBW: Build-A-Bear announces authorization of new $15M buyback
  • BMRN: SRPT: FDA staff say biomarker studies for BioMarin DMD drug ‘greatly concerning’
  • AMGN:Amgen’s Kyprolis cleared in Europe for combo treatment of multiple myeloma
  • AMGN:The European Medicines Agency’s CHMP  adopts a positive opinion recommending approval of Samsung Bioepis’ Benepali, a biosimilar version of Amgen’s Enbrel
  • FRAN: announces resignation of CFO
  • CSIQ: Canadian Solar wins 110 MWp of solar power projects in Brazil
  • NFLX: RBC out positive on Netflix, views the stock as undervalued
  • BA: LMT:Boeing/Lockheed launch venture joining micro-satellite market
  • CLVS: PointState Capital reports 7.7% passive stake in Clovis
  • VIPS: Tiger Global reports 9.96% passive stake in Vipshop

THE ECONOMIC CALENDAR:

  • 9AM: Fed’s Bullard speaks “The Economy and Monetary Policy”
  • 11AM: Kansas City Fed Manufacturing Survey
  • 1PM: Baker Hughes Rig Count

NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • NMBL: Q3 EPS of -$0.14 misses by $0.06: revenue of $80.73M misses by $6.71M: revenue +36.6% y/y: soft guidance
  • ROST: Q3 EPS of $0.53 beats by $0.03: revenue of $2.78B beats by $10M: revenue +6.9% y/y: reaffirms below consensus
  • INTU:FQ1 EPS of $0.09 beats by $0.13: revenue of $713M beats by $42.63M: revenue +16.5% y/y: raises guidance
  • ADSK:Q3 EPS of $0.14 beats by $0.06: revenue of $599.8M beats by $8.25M: revenue -2.9% y/y: weak guidance
  • GPS: Q3 EPS of $0.63 in-line: revenue of $3.86B misses by $40M: revenue -2.8% y/y: lowers FY15 EPS guidance to $2.38-$2.42 from.$2.75-$2.80 vs consensus $2.50: weak guidance
  • SPLK:Q3 EPS of $0.05 beats by $0.04: revenue of $174.42M beats by $14.16M: revenue +50.3% y/y: guides above consensus
  • WSM: Q3 EPS of $0.77 beats by $0.05: revenue of $1.23B beats by $10M: revenue +7.9% y/y: weak Q4 guidance
  • WDAY:FQ3 GAAP EPS of-$0.41 not comparable with -$0.04 non-GAAP consensus. Non-GAAP net loss was $373K, and implies EPS of -$0.02: revenue of $305.3M beats by $1.82M: weak revenue guidance
  • TFM: Q3 EPS of $0.23 beats by $0.01: revenue of $433.1M  misses by $3.14M: revenue +3.2% y/y:  soft guidance

NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • YOKU:Q3 EPADS of -RMB1.62 misses by RMB0.04: revenue of RMB1.85B beats by RMB100M: revenue +66.7% y/y
  • FL: Q3 EPS of $1.00 beats by $0.05: revenue of $1.79B beats by $10M: revenue +3.5% y/y
  • HIBB:Q3 EPS of $0.74 beats by $0.06: revenue of $228.30M misses by $5.05M: revenue +4.6% y/y: guides higher, raises FY16 EPS to $2.87-$2.94 from $2.80-$2.90 vs consensus $2.84
  • JMEI:Q3 EPS of -$0.08 misses by $0.18: revenue of $305.5M beats by $6.76M: revenue +99.9% y/y
  • ANF:Q3 EPS of $0.48 beats by $0.26: revenue of $878.57M beats by $13.92M: revenue -3.6% y/y
  • SIRO:FQ4 EPS of $1.12: revenue of $304.9M beats by $9.93M: revenue +5.1% y/y

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • TRMB: upgrade: neutral to buy: Goldman: $26
  • DEO: upgrade: neutral to overweight: JP Morgan
  • DG: upgrade: hold to buy: BB&T:
  • INTC: upgrade: market perform to outperform: JMP Securities: $45

DOWNGRADES:

  • EXPR: downgrade: neutral to sell: Goldman: pt cut from $20 to $15
  • CLD: downgrade: buy to sell: UBS:
  • BTU: downgrade: neutral to sell: UBS
  • NMBL: downgrade: outperform to sector perform: RBC Capital: pt cut from $40 to $16
  • NMBL: downgrade: outperform to market perform: Wells Fargo
  • NMBL: downgrade: overweight to equal weight; Barclays: $15
  • NMBL: downgrade: buy to hold: Wunderlich: pt cut from $28 to $14
  • NMBL: downgrade: buy to hold: Stifel:
  • MENT: downgrade: buy to neutral: BofA/Merrill: $28
  • MENT: downgrade: neutral to underweight: JP Morgan: pt cut from $28 to $20
  • RH: downgrade: buy to neutral: Goldman: pt cut from $120 to $96
  • EXP: downgrade: buy to neutral: Goldman: $79
  • BCS: downgrade: overweight to equal weight; Morgan Stanley
  • WDAY: downgrade: outperform to neutral: Wedbush
  • EE: downgrade: hold to underperform: Jefferies: $34
  • ADSK: downgrade: outperform to sector perform: RBC Capital: pt cut from $70 to $65
  • ADSK: downgrade: neutral to sell: Goldman: pt cut from $62 to $52

INITIATIONS:

  • SHO: initiated: outperform: FBR Capital: $17
  • H: initiated: outperform: FBR Capital: $62
  • HPT: initiated: outperform: FBR Capital: $34
  • HLT: initiated: outperform:FBR Capital: $32
  • AHP: initiated: outperform: FBR Capital: $18
  • AHT: initiated: outperform: FBR Capital: $9,50
  • CLDT: initiated: outperform: FBR Capital: $27
  • FCH: initiated: outperform: FBR Capital: $10
  • HT: initiated: market perform: FBR Capital: $26

PRICE TARGET CHANGES:

  • INTU: pt raised from $95 to $96: RBC Capital
  • INTC: pt raised from $36 to $38: Topeka Capital
  • INTC: pt raised from $34 to $35: RBC Capital
  • WDAY; pt raised from $87 to $95: Northland Capital
  • PCTY: pt raised from $43 to $55: Northland Capital
  • DWRE: pt cut from $70 to $64: FBR Capital
  • DWRE: pt cut from $63 to $60: RBC Capital
  • SPLK: pt cut from $90 to $83: Jefferies
  • WSM: pt cut from $80 to $79: RBC Capital
  • WSM: pt cut from $92 to $85: Telsey Advisory
  • UNH: pt cut from $155 to $131: Mizuho
  • GPS: pt cut from $26 to $23: Mizuho
  • GPS: pt cut from $30 to $28: Telsey Advisory
  • GPS: pt cut from  $28 to $26: FBR Capital
  • GPS: pt cut from $40 to $32: Stifel
  • VALE: pt cut from $4 to $3: Cowen
  • WAIR: pt cut from $15 to $12: RBC Capital
  • VRX: pt cut from $155 to $111: Mizuho: NOTE: reiterates “Top Pick”

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