US futures following European markets into the red at this hour with all eyes and ears on the Fed meeting later this week. Overnight, Shanghai shares rose 2.5% as the yuan hit new lows while most Asian markets traded lower. Meanwhile, oil recovering somewhat after it spiked down almost 2% overnight. On the tail of the fall in crude, US natural gas prices fall to nearly 14 year lows as unseasonably warm weather blankets the US east coast.
NEWS:
- MU:Micron buys remainder of Inotera Memories shares in a deal worth $3.2B
- TSL: announces that the company has received an offer to go private
- KTOV:Kitov Pharma to announce interim results from late-stage study of lead product candidate tomorrow
- CTRP: ENDP: EXPE: MXIM: NCLH: TMUS: ULTA: to be sdded to the Nasdaq 100 effective Dec. 21
- CHRW: EXPD: GRMC: GRMN: SPLS: VIP: WYNN:LILA: LILAK: to be removed from the Nasdaq 100 effective Dec 21
- NWL: JAH: Newell Rubbermaid to buy Jardan for approx $60/share in cash and NWL shares
- FB: GOOG: AMZN: BABA: YHOO: Internet usage surged 49% in 2015, reports economic times
THE ECONOMIC CALENDAR:
- nothing on the calendar
A COUPLE OF NOTABLE EARNINGS TO BE REPORTED AFTER THE BELL:
- PAY, FCEL
ANALYSTS’ RATINGS CHANGES:
UPGRADES:
- COH: upgrade: neutral to overweight: Piper Jaffray: pt raised from $33 to $37
- MAT: upgrade: market perform to outperform: BMO Capital: $33
- FTNT: upgrade: underperform to market perform: Cowen: $35
- CPSI: upgrade: neutral to buy: SunTrust
- ED: upgrade: sell to hold: Deutsche Bank
- WEC: upgrade: hold to buy: Deutsche Bank
- TWO: upgrade: market perform to outperform: Keefe Bruyette:
DOWNGRADES:
- GPRO: downgrade: equal weight to underweight: Morgan Stanley: $12
- TMH: downgrade: outperform to neutral: Baird: pt cut from $70 to $49
- DD: downgrade: buy to hold: Jefferies: $75
- TYC: downgrade: outperform to neutral: Credit Suisse: $36
- HRL: downgrade: buy to hold: Deutsche Bank: $76
- FDX: downgrade: strong buy to market perform: Raymond James
- MFRM: downgrade: buy to neutral: Citi
INITIATIONS:
- SQ: initiated: outperform: RBC Capital: $15
- SQ: initiated: buy: Jefferies: $14
- SQ: initiated: hold: Deutsche Bank: $13
- SQ: initiated: buy: Goldman: $16
- SQ: initiated: overweight; JP Morgan: $14
- MIME: initiated: buy: Goldman
- MIME: initiated: outperform: RBC Capital: $15
- MIME: initiated: outperform: Oppenheimer: $15
- TRN: initiated: outperform: Cowen: $32
- GBX: initiated: outperform: Cowen: $41
- MTCH: initiated: sell: Goldman: $12
- MTCH: initiated: buy: Deutsche Bank: $18
- MTCH: initiated: overweight: Barclays: $17
- MTCH: initiated: outperform: Cowen: $18
- RDC: initiated: buy: KLR Group: $25
- INUV: initiated: buy: Ladenburg
PRICE TARGET CHANGES:
- HZNP: pt raised from $34 to $36: Mizuho
- OPHT: pt raised from $125 to $200: Chardan Capital
- VUZI: pt raised from $7 to $10: Chardan Capital
- NDSN: pt cut from $85 to $75: Cowen
- NDSN: pt cut from $75 to $69: RBC Capital
- VRX: pt cut from $206 to $194: RBC Capital
- AAPL: pt cut from $155 to $150: Barclays