Oil, Oil, Oil | Morning News

bull-bear1DECEMBER 30, 2015

US futures falter indicating a lower opening as global markets trade mixed on light volume. Overnight, oil took another leg down as sustained pressure on crude prices have traders turning cautious, with renewed selling being felt in the equities markets. All eyes will be on EIA petroleum inventories to be reported today at 10:30AM EST.

NEWS:

  • LPL: SSNLF: LG Display, Samsung Display to supply OLED screens for iPhones.¬†reports reuters
  • AAPL:Apple more than doubles smartphone shipments in MEA region in 3Q15, reports digitimes
  • REGN: Sanofi reports 22.6% stake in Regeneron
  • GSM: Point72 liquidates stake in Globe Specialty Metals
  • KBIO: files for bankruptcy
  • RTN:Raytheon awarded $102.9M government contract

THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 10AM: Pending Home Sales
  • 10:30AM: EIA Petroleum Inventories
  • 1PM: $29B, 7 Year Note Auction
  • 3PM: Farm Prices

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • WASH: upgrade: market perform to outperform: Keefe Bruyette: $44

DOWNGRADES:

  • VNR: downgrade: overweight to equal weight: Morgan Stanley: $7
  • MEMP: downgrade: overweight to equal weight: Morgan Stanley: $5
  • DDR: downgrade: buy to hold: Deutsche Bank: $17

INITIATIONS:

  • KURO: initiated: outperform: Oppenheimer
  • PSG: initiated: outperform: Oppenheimer: $15
  • AGR: initiated: outperform: Wells Fargo:
  • SKUL: initiated: outperform: Oppenheimer:
  • AGRX: initiated: buy: Noble Financial: $16

PRICE TARGET CHANGES:

  • CKEC: pt cut from $39 to $37: Topeka Capital

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