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:
- TRV: downgrade: buy to neutral: BofA/Merrill
- UNM: downgrade: buy to neutral: BofA/Merrill
- PKI: downgrade: outperform to neutral: Wedbush
- ACC: downgrade: hold to sell: Goldman
INITIATIONS:
- TMH: initiated: neutral: Mizuho: $59
- GRUB: initiated: buy: Mizuho: $31
- EVHC: initiated: neutral: Mizuho: $30
- LAND: initiated: buy: Janney Capital: $10.50
- PBMD: initiated: outperform: FBR Capital: $6
- P: initiated: market perform: BMO Capital: $14
PRICE TARGET CHANGES:
- AVGO: pt raised from $150 to $155: RBC Capital
- AVGO: pt raised from $165 to $175: Mizuho
- AVGO: pt raised from $170 to $180: Brean Capital
- CAB: pt raised from $45 to $56: MKM Partners
- HA: pt raised from $37 to $39: Cowen
- OGE: pt cut from $30 to $28: Wunderlich
- VRNT: pt cut from$63 to $53: FBR Capital
- VRNT: pt cut from $62 to $52: RBC Capital
- KMI: pt cut from $36 to $29: RBC Capital
- ISLE: pt cut from $25 to $24: Telsey Advisory