NFLX split | Morning News

1907532_916369691753878_5482228266492764022_nJUNE 24, 2015

US futures pulling back at this 7AM hour after reports that the latest Greek proposals have not been accepted and ahead of  GDP Q1 data. Oil, supported by declining US inventories, has given up most of its overnight gains. The commodity could find some direction at 10:30AM when EIA Petroleum Inventories will be reported.

NEWS:

  • QCOM:announces a deal to help China’s biggest semiconductor foundry upgrade its technology, reports the wsj
  • NFLX: announced 7-for-1 stock split last night after the close
  • F: entering the car-share market, launching a pilot program in six US cities and London
  • BIDU: announces debt offering: selling $750M worth of 3% notes due 2020, and $500M worth of 4.125% notes due 2025
  • CTSH: announces a strategic relationship with Escorts Limited, one of India’s leading engineering conglomerates, reports kltv
  • BLUE: announces $400M public offering of common stock at $170.00
  • ADHD:  Alcobra’s MDX failed to meet endpoint in Phase 2 trial
  • MEET: guides higher for Q2: expecting revenue of $10.5M-$10.7M and adjusted EBITDA of $1.5M-$2M, up from prior guidance of $9M-$9.5M and $250K-$750K
  • GOOG :Google Genomics adds Broad Institute’s DNA analysis toolkit, reports reuters
  • BABA: announces expansion of cross-border e-commerce initiatives, reports business wire
  • IMAX: expands into Africa
  • XOM: Exxon Mobil shuts three platforms off Santa Barbara After Spill Crippled Pipeline, reports the wsj

ON THE ECONOMIC CALENDAR:

  • 7AM: MBA Mortgage Applications
  • 8:30AM: GDP Q1
  • 8:30AM: Corporate Profits
  • 10:30AM: EIA Petroleum Inventories
  • 11:30AM: $13B, 2 Year FRN Auction
  • 1PM $35B, 5 Year Note Auction

EARNINGS:

  • LEN: FQ2 EPS of $0.79 beats by $0.15.Revenue of $2.39B beats by $370M: revenue +31.3% y/y : conference call 11AM EST
  • MON: conference call 9:30AM EST

NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • BBBY: due to report at 4:15PM EST with the conference call at 5PM EST

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • F: upgrade: neutral to buy: Goldman: pt raised from $18 to $19
  • AMAT: upgrade: buy to conviction buy: Goldman: $24
  • CMA: upgrade: neutral to buy: BofA/Merrill
  • TTWO: upgrade; hold to buy: Jefferies: $35
  • EA: upgrade: hold to buy: Jefferies:$80

DOWNGRADES:

  • GM: downgrade: buy to neutral: Goldman: pt cut from $46 to $40
  • GS: downgrade: buy to hold: Deutsche Bank:
  • C: downgrade: buy to hold: Deutsche Bank:
  • ESPR: downgrade; outperform to neutral: Credit Suisse: pt cut from $130 to $86
  • FTNT: downgrade: outperform to neutral: Baird

INITIATIONS:

  • AET: initiated: sector perform: RBC Capital: $159
  • ANTM: initiated: outperform: RBC Capital: $222
  • AVGO: initiated: buy: Argus: $163
  • CI: initiated: sector perform: RBC Capital: $184

PRICE TARGET CHANGES:

  • EA: pt raised from $66 to $75: Brean Capital
  • IHS: pt raised from $132 to $149: Stifel
  • IHS: pt raised from $127 to $142: RBC Capital
  • CCL: pt raised from $55 to $60: Stifel
  • QLYS: pt raised from $38 to $44: RBC Capital
  • PANW: pt raised from $175 to $210: Baird
  • JPM: pt raised from $70 to $77: Argus
  • LNT: pt cut from $71 to $67: Argus

 

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Leave a Reply 5 comments

Anne West Reply

Great blog, so much good detail. I’m enjoying morning meeting,too, but still watching 2 things at once.

    Marian Boyle Reply

    good morning Anne,

    Thank you .. and thanks for joining us! I’m actually really enjoying the morning meetings. We have a great group.

    Marian

bob curran Reply

Keep an eye on SUNE ——-stage 2base ,entering

bob curran Reply

long SUNE to 39.00ish

Marian Boyle Reply

Thanks Bob. I have no position at the moment but have it on “watch”

Marian

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