Good Morning Wall Street, Friday, March 20, 2015

Oil futures remain choppy as US stocks look to head for weekly gains at this 6AM hour, with futures rebounding from yesterday’s oil-driven losses. Overnight, Japanese stocks advanced to a  new 15 year high with the yens softening against the US$. Greece’s Athex Composite rises over 3% after Prime Minister Tsipras agreed to speed up economic reform plans

 

ON THE ECONOMIC CALENDAR:

  • 10AM: The Atlanta Fed’s Business Inflation Expectations
  • 10:20AM: The Fed’s Lockhart speech on “US Economy and Monetary Policy”
  • time not supplied: US drilling rig-count from Baker Hughes

NEWS:

  • AMZN: Amazon granted approval by the FAA to test a drone delivery system
  • BIIB: Major Event: presents very positive interim results from phase 1B study of investigational Alzheimer’s drug
  • AAPL: GOOG: MSFT: BBRY: SNE: global smartphone shipments to rise 16.4% in 2015, reports Digitimes Research
  • TKMR: secondary priced at $20.25
  • JKS: DD:JinkoSolar and DuPont sign partnership in strategic collaboration agreement
  • AMGN, NVS: court rejects Amgen’s bid to block Neupogen biosimilar
  • ICPT: announces positive NASH trial results
  • AAPL: Morgan Stanley out positive on Apple on upcoming TV service

EARNINGS:

  • KBH: EPS of $0.08 beats by $0.06.Revenue of $580.1M (+28.7% Y/Y) beats by $105.2M:Q1 land sale revenues $53M:Net orders of 2,189 up 24%; dollar value of $753.2M up 25%.watch 14.95 resistance 
  • TIF: Q4 EPS of $1.47 misses by $0.04.Revenue of $1.28B (-1.5% Y/Y) misses by $30M : Inventory +1.53% to $2.36B: Operating margin declined 400 basis points to 23.7% (note: TIF has broken 83.21 support pre-market, watch $82.75 for strong support)
  • alert: watch UA on NKE earnings from last night

 

ANALYST RATINGS CHANGE:

AAPL: reiterates $150 pt: Buy: Stifel: sees Apple moving into electric car field

PIR: upgrade; perform to outperform: Oppenheimer: $20

BIIB: pt raised from $435 to $500: Barclays

BIIB: pt raised from $421 to $500: Piper Jaffray

HON: added to Goldman’s conviction buy list: 4120

NKE; pt raised from $102 to $110: Deutsche Bank

NKE: pt raised from $99 to $106: Credit Suisse (NOTE:watch: strong resistance at 99.75)

NKE: pt raised from $110 to $120: Citigroup

YOKU: pt cut from $24 to $20: Brean Capital

CTRP: pt raised from $64 to $70: Brean Capital

EXAM: Deutsche Bank out positive on ExamWorks

CELG: pt raised from $135 to $144: Piper Jaffray

CBS: pt raised from $60 to $72: Citigroup

KERX: pt cut from $22 to $18: Opco

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robin spitalny Reply

Marian- Welcome back

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