NFLX | Morning News

APRIL 15, 2015

US futures lifting at this 7AM hour after yesterday’s rally put the dow within 0.2% of all time highs. Traders looking to the Empire State Manufacturing Survey and Industrial Production this morning, both due out before the market opens. Shanghai sold off amid expectation of more IPOs. Oil dipped overnight on the rising dollar¬†and the ongoing weight of oil inventories.

NEWS:

  • BID: Auctions pull in a record $2.7B worth of art
  • AVP: SEC investigating mysterious $8B offer to purchase Avon by PTG Capital Partners
  • NFLX: in talks to enter China, reports the wsj
  • QCOM: introduces two new IoT-focused Wi-Fi chips, reports venturebeat
  • FDX: loses US court motion to dismiss drug shipping charges, reports reuters
  • YUM: Taco Bell has applied for a liquor license in Chicago
  • GPRO: launches Alibaba listings
  • BIDU: 8 execs fired in ongoing bribery probe
  • FEYE: company nixes takeover rumor with statement ” unwilling to entertain buyout offers before it reaches $1B in annual revenue”
  • CSC: breakup plans reported by reuters
  • GMCR: hosted webcast after hours yesterday unveiling Keurig Kold, a cold beverage maker
  • GRMN: Citigroup out negative on the company, reiterates sell and $42 pt
  • DUK: pleads guilty to environmental crimes for illegally dumping coal ash

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Empire State Manufacturing Survey
  • 9:15AM: Industrial Production
  • 9:15AM: Capacity Utilization
  • 10AM: Reuters/UofM Consumer Sentiment
  • 10AM: ECommerce Retail Sales
  • 4PM: Treasury Internationsl Capital

 

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:

  • MOS: Q1 EPS of $0.80 beats by $0.05: revenue of $21.4B, up by 8.1% over last year: raises dividend: announces $1.5B buyback
  • KING: Q1 EPS of $0.61 beats by $0.08: revenue of $569.8M beats by $6.38M: weak guidance
  • SYMC: FQ4 EPS of $0.43 misses by $0.01: revenue of $1.55B misses by $10M: weak guidance
  • JWN: Q1 EPS of $0.66 may not be comparable to on expected ¬†consensus of $0.71: revenue of $3.12B misses by $40M : comparable sss +4.4%
  • SINA: Q1 EOS if $0.04 beats by $0.05: revenue of $182M beats by $1.28M:no guidance released: spending slowed
  • WB: Q1 EPS of $0.01 was in line : reveue of $96.3M beats by $1.66M: soft guidance
  • AMAT: FQ2 EPS of $0.29 beats by $0.01: revenue of $2.44B beats by $40M: guidance in line with expectations
  • LOCO: Q1 EPS of $0.18 beats by $0.01: revenue of $90.43M beats by $1.94M: guidance on low end of expectation

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • UPS: upgrade: underweight to neutral: Goldman: $119
  • YUM: upgrade; equal weight to overweight: JP Morgan: pt raised from $83 to $108

DOWNGRADES:

  • WYNN: downgrade: overweight to equal weight: Barclays
  • DE: downgrade: neutral to underweight: JP Morgan: $84
  • KSU: downgrade: outperform to neutral: Credit Suisse

INITIATIONS:

  • ADBE: initiated: overweight: JP Morgan: $40
  • HZNP: initiated: buy: Jefferies: $37
  • ADXS: initiated: buy: Janney: $26
  • ADXS: initiated: buy: Jefferies: $27
  • PRU: initiated: neutral: Goldman: $89
  • SAGE: initiated: buy: Goldman: $80

PRICE TARGET CHANGES:

  • HON: pt raised from $112 to $116: Cowen
  • AEO: pt raised from $16 to $18: Mizuho
  • PLCE: pt raised from $70 to $76: FBR Capital
  • GLUU: pt raised from $7.50 ago $9: Piper
  • MDVN: pt raised from $128 to $148: Leerink
  • INVE: pt cut from $14 to $11: Imperial Capital

 

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