Oil is still the story | Morning News

2016DECEMBER 31, 2015

US futures hugging the flat line at this 7AM hour as global markets begin to  shutter for the year in mixed trading and light volume. Overnight, oil prices were down modestly with the commodity set for its first back-to-back annual loss since 1998 after record US petroleum inventories data yesterday reinforced concerns about a global supply glut.

NEWS:

  • BP:BP orders complete evacuation of Valhall field in North Sea, reports reuters
  • MSFT:Microsoft failed to warn victims of Chinese email hack, reports reuters
  • LMT:Lockheed wins billion dollar C-130J contract
  • CARA: Piper names the company as one of its Top Picks of 2016
  • SHLD:Berkowitz’s Fairholme Increases Sears Stake, Signals Active Role, reports bloomberg
  • PERI: guides FY15 revenue $217M-219M vs. consensus $207.07M:raises Q4 revenue guidance from $52M-54M to $64M-66M

THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 9:45AM: Chicago PMI
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10:30AM: EIA Natural Gas Inventory
  • 1PM: Baker-Hughes Rig Count
  • 4:30PM: Money Supply and Fed Balance Sheet

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • OKE: upgrade: neutral to outperform: Credit Suisse: pt raised from $36 to $40

DOWNGRADES:

  • HPY: downgrade: overweight to neutral: Piper Jaffray: pt cut from $100 to $90

INITIATIONS:

  • TLOG: initiated: buy: Roth Capital: $5
  • PBMD: initiated: buy: Roth Capital: $6

PRICE TARGET CHANGES:

  • DOC: pt raised from $18 to $19: Stifel
  • HTA: pt raised from $28 to $29: Stifel
  • HR: pt raised from $29 to $31: Stifel

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