DECEMBER 14, 2015
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