Dead Cat Bounce? | Morning News

520119b5bd3165a931013fb67d9d784dDECEMBER 21, 2015

US futures stage a rally following mostly green arrows around the world, with the exception of a 2% decline in Spain after weekend elections shifted power away from the country’s typically dominant parties. The Nikkei edge lower as well, but Shanghai climbed 1.8%. Overnight, oil added to its losses, now trading comfortably below $35 as the average US gasoline prices drop to below $2 for the first time since 2009.

NEWS:

  • FB: GOOG: GOOGL:Facebook, Google have the 8 most popular U.S. mobile apps
  • DIS: “Star Wars” shatters records
  • CSIQ: Canadian Solar completes sale of Aria Solar power plant to Concord Green Energy
  • GME: As Downloads Take Over, a Turning Point for the Video Game Industry
  • SQBG:  guides FY16 revenue $145M-$150M, consensus $110.78M
  • FMI: Foundation Medicine announces national agreement with UnitedHealthcare
  • SHAK:announces it will open its first store in Seoul, South Korea next year
  • BXLT: ADYNOVATE successful in late-stage pediatric hemophilia A study
  • AVEO: AVEO Oncology and EUSA Pharma announce exclusive licensing agreement
  • AAPL:Apple planning Hi-Res audio streaming over next year, reports AppleInsider
  • ERIC: AAPL: Ericsson and Apple sign patent license agreement, settle litigation

THE ECONOMIC CALENDAR:

  • 8:30AM: Chicago Fed National Activity Index

A NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • LITB: Q3 EPS of $0.07 misses by $0.07: revenue of $80.17M beats by $11.54M: revenue -18.8% y/y

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

  • CTAS: SCS

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • WAB: upgrade: hold to buy: Stifel: $88
  • AVGO: upgrade: outperform to Top PicK: RBC Capital: pt raised from $155 to $179
  • GD: upgrade: hold to buy: Drexel Hamilton: $153
  • ARQL: upgrade: sector perform to outperform: pt raised from $4 to $5
  • TIF: upgrade: hold to buy: Jefferies: $100
  • CIEN: upgrade: hold to buy: Jefferies: $25
  • NBR: upgrade: neutral to outperform: Credit Suisse: $12
  • SPN: upgrade: neutral to outperform: Credit Suisse
  • EEP: upgrade: neutral to outperform: Credit Suisse: pt cut from $29 to $34
  • BBRY: upgrade: underweight to neutral: JP Morgan: $9
  • FARO: upgrade: hold to buy: Needham: $37
  • JOY: upgrade: underperform to market perform: FBR Capital: pt cut from $14 to $10
  • BBCN: upgrade: market perform to outperform: Keefe Bruyette

DOWNGRADES:

  • WTR: downgrade: market perform to underperform: Hillard lyon: $27
  • PAA: downgrade: outperform to perform: Oppenheimer
  • DDR: downgrade: overweight to equal weight: Capital One
  • ENLC: downgrade: buy to neutral: BofA/Merrill
  • ATR: downgrade: buy to hold: Evercore
  • VER: downgrade: overweight to equal weight: Capital One

INITIATIONS:

  • PACW: initiated: outperform: Wells Fargo
  • BOKF: initiated: market perform: Wells Fargo: $62-64 pt range
  • ODFL: initiated: hold: Evercore: $65
  • YELP: initiated: neutral: Guggenheim
  • AEGR: initiated: buy: Guggenheim: $13

PRICE TARGET CHANGES:

  • BBRY: pt raised from $8 to $9: RBC Capital
  • DRI: pt raised from $62 to $68: RBC Capital
  • AGU: pt cut from $100 to $90: Cowen
  • MOS: pt cut from $36 to $32: Cowen
  • POT: pt cut from $20 to $18: Cowen
  • KMX: pt cut from $65 to $58: RBC Capital
  • PGS: pt cut from $18 to $14: Roth Capital
  • ARMH: pt cut from $52 to $43: Northland
  • CMP: pt cut from $75 to $68: Monness Crespi & Hardt

 

About the Author

Leave a Reply 0 comments

Leave a Reply: