NFLX | Morning News

marquee-netflixJULY 16, 2015

US futures pushing higher at this 7AM hour following advances around the world after the Greek parliament passed austerity measures. The economic calendar continues to get some attention with data due out this morning on weekly jobless claims  and the Philly Fed business outlook. Janet Yellen is set to speak for a second day before the Senate Banking Committee.

NEWS:

  • QCOM: EU initiates two antitrust investigations against Qualcomm, reports the wsj
  • T: Cricket Wireless ready to launch a mobile hotspot product for $10/month
  • MU: China/Micron deal gets more unlikely
  • NFLX: announced that it has added 3.28M streaming subscribers in the June quarter
  • AAPL: estimate on Q3 iPhone sales raised at Stifel
  • CVX: OXY: MRO: Jefferies out with favorites in the energy sector
  • BP: reiterated as a sell by Goldman as they see the dividend under pressure
  • JAH: announces 14M share offering of common stock
  • EBAY: eBay near to selling its enterprise unit, for $900M, reports the wsj

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Philly Fed Business Outlook
  • 10AM: NAHB Housing Market Index
  • 10:30AM: EIA Natural Gas Inventory
  • 2:30PM: Yellen speaks to the Senate Banking Committee on economy and monetary policy
  • 4PM: Treasury International Capital
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS:

  • BBT: Q2 EPS of $0.69 in-line.Revenue of $2.37B  misses by $40M
  • EBAY:Q2 EPS of $0.76 beats by $0.03.Revenue of $4.38B misses by $110M: announces additional $1B buyback
  • GS: Q2 EPS of $4.75 beats by $0.86.Revenue of $9.07B beats by $290M
  • KEY: Q2 EPS of $0.27 misses by $0.01.Revenue of $1.08B  beats by $30M: conference call 9AM EST
  • SON:Q2 EPS of $0.66 misses by $0.01.Revenue of $1.25B  misses by $40M
  • PM: Q2 EPS of $1.21 beats by $0.08.Revenue of $6.86B beats by $130M
  • UNH: Q2 EPS of $1.64 beats by $0.05.Revenue of $36.26B beats by $600M: raises FY15 EPS to $6.25-6.35 from $6.15-6.30 vs. consensus $6.26C:
  • PPG: Q2 EPS of $1.67 beats by $0.03.Revenue of $4.1B misses by $60M
  • SHW: Q2 EPS of $3.70 misses by $0.11.Revenue of $3.13B misses by $130M:cuts FY15 EPS to $10.60-$11.00 from $10.90-$11.10
  • BX: Q2 EPS of $0.43 misses by $0.07.Revenue of $1.2B misses by $110M: conference call 11AM EST
  • DPZ:Q2 EPS of $0.81 beats by $0.02.Revenue of $488.62M misses by $0.77M
  • MTG: Q2 EPS of $0.28 beats by $0.05.Revenue of $243.1M misses by $4.24M

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:

  • KMI: Q2 EPS of $0.15 misses by $0.04.Revenue of $3.46B misses by $500M: raises dividend 2.1%: distribution remainS strong
  • INTC: Q2 EPS of $0.55 beats by $0.05.Revenue of $13.2B beats by $160M: strong guidance

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • AMD, ANGO, ASB,  CE, CTAS, CYT, GOOG, MAT, PBCT, SLB, SWI

ANALYSTS’ RATINGS CHANGES;

UPGRADES:

  • INTC: upgrade: sell to hold: Ascendiant
  • MDT: upgrade: neutral to buy: BTIG: $89
  • GOOG: GOOG: upgrade: market perform to outperform: BMO Capital: pt raised from $570 to $670
  • WBA: upgrade: neutral to outperform: Credit Suisse: pt raised from $90 to $110
  • DF: upgrade: hold to buy: Deutsche Bank: $19

DOWNGRADES:

  • KSU: downgrade: equal weight to underweight: Barclays: pt cut from $112 to $93
  • BWA: downgrade: overweight to equal weight: Barclays: pt cut from $70 to $55
  • NSC: downgrade: overweight to equal weight; Barclays: $91
  • CNI: downgrade: overweight to equal weight: Barclays: $61
  • CYH: downgrade: overweight to sector weight: KeyBanc
  • UNS: downgrade: overweight to sector weight: KeyBanc
  • PF: downgrade: buy to hold: Deutsche Bank:
  • GM: downgrade: overweight to equal weight: Barclays: pt cut from $44 to $36

INITIATIONS:

  • ATHN: initiated: hold: Canaccord: $125
  • DHR: initiated: sector perform: RBC Capital: $93
  • BGFV: initiated: outperform: Imperial Capital: $17

PRICE TARGET CHANGES:

  • ESRX: pt raised from $98 ago $101: Mizuho
  • UA: pt raised from $94 to $98: Telsey Advisory Group
  • FL: pt raised from $70 to $74: Telsey Advisory Group
  • PANW: pt raised from $175 to $215: Topeka Capital
  • NFLX: pt raised from $103 to $115: Mizuho
  • NFLX: pt raised from $70 to $96: Piper
  • NFLX: pt raised from $89 to $127: JP Morgan
  • NFLX: pt raised from $121 to $155: Pivotal Research Group
  • NFLX: pt raised from $83 to $125: Cantor
  • NFLX: pt raised from $104 to $128: Stifel
  • SBUX: pt raised from $55 to $60: RBC Capital
  • INTC: pt raised from $31 to $32: Northland
  • USB: pt raised from $46 to $48: RBC Capital
  • SGEN: pt raised from $50 to $55: RBC Capital
  • BLK: pt cut from $410 to $388: RBC Capital
  • RIG: pt cut from $14 to $12: Cowen
  • GRMN: pt cut from $42 to $35: Citi
  • NSM: pt cut from $45 to $40: UBS

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