FB | Morning News

DECEMBER 03, 2015

US futures look to take back some of yesterday’s losses as investors eye the data heavy economic calendar, Yellen’s testimony and Mario Draghi’s new conference this morning at 8:30AM EST. Overnight, crude rebounded, taking back the $40 level and ahead of the OPEC meeting.

NEWS:

NTAP: files automatic mixed securities shelf
FB: Facebook Partners With 50 Publishers To Launch Instant Articles In Asia, reports tech crunchNFLX: AMZN: GOOGL: GOOG: YouTube Seeks Streaming Rights to TV Shows, Movies, reports wsj
MCD: EU to Announce Probe Into McDonald’s Tax Affairs, reports wsj
TEVA: prices secondary at $62.50
GE: GE in talks to sell its commercial lending and leasing business in Germany and France, reports reuters
GS: BAC: STT: BK: WFC: JPM: MS:C: 8 US banks downgraded by S & P
BIDU:iQIYI Announces Paid Subscribers Reach Ten Million, reports pr newswire

THE ECONOMIC CALENDAR:

Various times: Chain Store Sales
7:30AM: Challenger Job Cut Report
8:30AM: Weekly Jobless Claims
8:30AM: Gallup Good Jobs Rate
9;45AM: PMI Services Index
9:45AM: Blomberg Consumer Comfort Index
10AM: Factory Orders
10AM: ISM Non-Manufacturing Index
10AM: Yellen to testify before Joint Economic Committee
10:30AM: EIA Natural Gas Inventory
4:30PM Money Supply and Fed Balance Sheet

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

NWY: Q3 EPS of -$0.05 misses by $0.04: revenue of $219.8M beats by $2.62M: revenue +4.5% y/y
AVGO:FQ4 EPS of $2.51 beats by $0.13: revenue of $1.85B in-line: revenue +14.9% y/y
AEO:Q3 EPS of $0.35 beats by $0.01: revenue of $919M misses by $8.36M: revenue +7.6% y/y: guides in-line
PSUN:Q3 EPS of -$0.05 beats by $0.03: revenue of $205.92M beats by $7.95M: revenue -3.0% y/y: guides revenue above consensus
BOX: FQ3 EPS of -$0.31 in-line: revenue of $78.7M beats by $1.94M: revenue +37.9% y/y: solid guidance
VRNT:Q3 EPS of $0.78 misses by $0.01: revenue of $285.3M misses by $13.47M: revenue -1.1% y/y: guides lower
PVH:Q3 EPS of $2.66 beats by $0.19: revenue of $2.16B in-line: revenue -3.1% y/y: soft guidance
ARO:Q3 EPS of -$0.31 beats by $0.04: revenue of $363.3M misses by $29.37M: revenue -19.8% y/y: weak guidance
TLYS:Q3 EPS of $0.16 beats by $0.02: revenue of $141.69M beats by $3.44M: revenue +7.9% y/y: weak Q4 guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

SHLD: Q3 EPS of -$2.86 misses by $0.02: revenue of $5.75B beats by $240M: revenue -20.2% y/y
DG:Q3 EPS of $0.88 beats by $0.01: revenue of $5.07B misses by $20M: revenue +7.4% y/y: announces authorization of $1B buyback program
EXPR:Q3 EPS of $0.31 beats by $0.02: revenue of $546.62M beats by $5.19M: revenue +9.8% y/y
TD:FQ4 EPS of $1.14 beats by $0.01: revenue of $8.05B beats by $480M: revenue +8.1% y/y
TITN: Q3 EPS of $0.20 in-line: revenue of $344.98M misses by $67.51M: revenue -30.0% y/y: weak guidance
LE: Q3 EPS of $0.33 misses by $0.02: revenue of $334.43M misses by $7.52M: revenue -10.4% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

AMBA, COO, EXA, FIVE, MRVL, OVTI, SEAC, ULTA, ZUMZ

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

FE: upgrade: neutral to buy: Guggenheim
HIMX: upgrade: market perform to outperform: Northland: pt raised from $7 to $10
WRE: upgrade: equal weight to overweight: Capital One: $32
HLT: upgrade: neutral to outperform: Macquarie: $30
MNK: upgrade: equal weight to overweight: Morgan Stanley: $88
P: upgrade: market perform to outperform: Raymond James: $17
COST: upgrade: hold to buy: Deutsche Bank: pt raised from $152 to $200

DOWNGRADES: