CMG | Morning News

chipotlelogoDECEMBER 07, 2015

US futures on the rise as most major markets around the word started the week with a bang, buoyed by Friday’s stellar gains, after upbeat jobs data reinforced investor confidence in the US economy. The solid employment report likely means a green light for a Fed rate hike next week, the first increase in nearly a decade.The news is also having an effect in the currency markets, boosting the US dollar against most other currencies.  Overnight, crude continued it’s selloff in the first trading session after OPEC members failed to agree on output targets.

NEWS:

  • SWHC: RGR: CAB: SPWH: Gun stocks on watch with Obama address
  • WTW:Fresh digital push at Weight Watchers, reports SA
  • CELG: AZN: Celgene, AstraZeneca announce initiation of FUSION clinical development program
  • GMCR:Keurig Green Mountain agrees to be bought out by JAB Holding in a deal valued at about $13.9B ($92/share)
  • THLD: announces that two evofosfamide Phase 3 studies did not meet primary endpoints

THE ECONOMIC CALENDAR:

  • 8:30AM: Gallup US Consumer Spending Measure
  • 10AM: Labor Market Condition Index
  • 11:30AM: Fed’s Bullard speaks on ” US Economy and Monetary Policy”
  • 12:30PM: TD Ameritrade IMX
  • 3PM: Consumer Credit

SOME NOTABLE EARNINGS REPORTED BEFORE THE BELL TODAY:

  • MFRM: Q3 EPS of $0.82 beats by $0.01: revenue of $699.5M beats by $38.87M: revenue +50.7% y/y
  • MTN: FQ1 EPS of -$1.63 beats by $0.12: revenue of $174.57M beats by $6.76M: revenue +36.1% y/y
  • JOUT: FQ4 EPS of $0.12 may not be comparable to consensus of -$0.08; revenue of $85.67M beats by $0.69M: revenue +0.9% y/y

SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE BELL TODAY:

  • CASY, CENT, GWPH, HRB, HQY, ORIG, UNFI

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • ASPS: upgrade: sell to neutral: Compass Point: $25
  • LLY: upgrade: hold to buy: Deutsche Bank: pt raised from $85 to $99
  • ABT: upgrade: hold to buy: Jefferies: $55
  • ISLE: upgrade: buy to hold: Stifel: $19
  • AEP: upgrade: neutral to buy: UBS: $62
  • NSC: upgrade: underweight to equal weight: Barclays: $95

DOWNGRADES:

  • SON: downgrade: equal weight to underweight: Barclays: $38
  • TSN: downgrade: overweight to equal weight: Stephens
  • BLUE: downgrade: overweight to equal weight: Morgan Stanley: pt cut from $143 to $69
  • KBR: downgrade: neutral to sell: Goldman: $19
  • AAAP: initiated: buy: Canaccord: $35
  • PII: downgrade: buy to neutral: UBS: $105

INITIATIONS:

  • TEVA: initiated: buy: Mizuho: $79
  • RACE: initiated: overweight: Morgan Stanley: $56
  • CAMP: initiated: buy: Chardan Capital: $24
  • BTE: initiated: sector perform: RBC Capital: $8
  • POT: reinstated: underperform: BofA/Merrill: $20
  • AKBA: initiated: buy: HC Wainwright: $24
  • SRNE: resumed: buy: Rodman & Renshaw: $45

PRICE TARGET CHANGES:

  • AEL: pt raised from $30 to $32: FBR Capital
  • NEM: pt raised from $19 to $22: FBR Capital
  • HD: pt raised from $133 to $148: Telsey Advisory
  • LMAT: pt raised from $15 to $18: Roth Capital
  • WPX: pt raised from $10 to $14: Imperial Capital
  • LMAT: pt raised from $15 to $18: Roth Capital
  • NEM: pt raised from $19 to $22: FBR Capital
  • BIG: pt cut from $54 to $46: Telsey Advisory
  • CAT: pt cut from $72 to $67: Goldman
  • JOY: pt cut from $14 to $8: Goldman
  • CMG: pt cut from $825 to $575: RBC Capital
  • CMG: pt cut from $737 to $529: Piper Jaffray
  • CMG: pt cut from $525 to $480: Deutsche Bank
  • CMG: pt cut from $585 to $495: Maxim Group
  • GIS: pt cut from $65 to $64: RBC Capital
  • SWC: pt cut from $15 to $11: RBC Capital
  • EXP: pt cut from $86 to $80: Stephens
  • BLUE: pt cut from $108 to $96: Jefferies
  • GSK: pt cut from $52 to $48: Argus

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