REGN | Morning News

Trader EducationAUGUST 04.2015

US futures set for a lower opening with most markets around the world trading in the red. The Shanghai bucked the trend and  rose after China, yet again, tightened short selling rules. Oil futures regained some strength overnight, as investors returned to the market to seek cheap valuations after the Brent crude fell below $50/bbl.

NEWS:

  • IART: announces $200M equity offering
  • PLUG: announces 7.89M share offering
  • FB: Instagram just made a major move that is going to turn it into a huge advertising business. reports business insider
  • XLE: XLU: Obama calls for 32% cut in emissions by 2030 from 2005 levels

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Gallup US Economic Confidence Index
  • 8:55AM: Redbook Chain Store Sales
  • 10AM: Factory Orders

EARNINGS THIS MORNING BEFORE THE OPENING:

  • AET: Q2 EPS of $2.05 beats by $0.23: revenue of $15.13B misses by $300M
  • ZTS:Q2 EPS of $0.43 beats by $0.05: revenue of $1.18B beats by $60M
  • CVS: Q2 EPS of $1.22 beats by $0.02: revenue of $37.17B in-line
  • INCY :Q2 EPS of $0.05 beats by $0.16: revenue of $162.98M beats by $9.77M: revenue +63.7% Y/Y
  • COH: FQ4 EPS of $0.31 beats by $0.02: revenue of $1B beats by $26.97M
  • REGN:Q2 EPS of $2.89 beats by $0.12: revenue of $998.62M beats by $110.81M: revenue +50% Y/Y: raises FY15 EYLEA US net product sales guidance to +45%-50%
  • MDC: Q2 EPS of $0.41 beats by $0.03: revenue of $461.71M misses by $43.03M
  • ADM: Q2 EPS of $0.60 misses by $0.06: revenue of $17.19B  misses by $3.68B
  • BZH: Q2 EPS of $0.38 beats by $0.03: revenue of $429.44M misses by $16.95M
  • TIME: Q2 EPS of $0.27 beats by $0.12: revenue of $772M beats by $13.97M
  • WNR: Q2 EPS of $1.44 beats by $0.10: revenue of $2.83B misses by $460M: revenue -34.6% Y/Y

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT AFTER THE CLOSE:

  • QLYS :Q2 EPS of $0.16 beats by $0.05: revenue of $39.87Min-line: guidance in-line
  • IDTI: FQ1 EPS of $0.31 beats by $0.02: revenue of $160.91M beats by $0.37M
  • CLX: FQ4 EPS of $1.44 beats by $0.07.Revenue of $1.56B beats by $30M: guides below estimates
  • BMRN: Q2 EPS of -$0.51 beats by $0.02: revenue of $250.5M beats by $32.34M: reaffirms guidance: revenue +30.6% Y/Y
  • DPLO: Q2 EPS of $0.16 beats by $0.04.Revenue of $808M  beats by $69.01M: raises guidance
  • CAR: Q2 EPS of $0.84 beats by $0.16.Revenue of $2.17B  misses by $70M: lowers guidance but remains in-line with expectations
  • PLOW: Q2 EPS of $0.57 beats by $0.05.Revenue of $107.14M  beats by $3.41M: raises guidance
  • AIG: Q2 EPS of $1.39 beats by $0.16: raised quarterly dividend 124% to $0.28/share: raised its share repurchase by $5B
  • CYH: Q2 EPS of $1.01 beats by $0.12.Revenue of $4.9B (+2.7% Y/Y) misses by $120M: announces plans to spin off 38 hospitals into a new company:
  • CTRP: Q2 EPS of $0.30 beats by $0.14.Revenue of $407.6M (+46.8% Y/Y) beats by $0.81M: sees revenue above estimates
  • TNET: Q2 EPS of $0.14 misses by $0.13.Revenue of $640.01M (+21.9% Y/Y)
  • THC: Q2 EPS of $0.75 beats by $0.31.Revenue of $4.5B (+11.4% Y/Y) beats by $100M: revises guidance above analysts expectations
  • CGNX:Q2 EPS of $0.49 beats by $0.02.Revenue of $143.82M (+55.9% Y/Y) misses by $6.31M.:weak guidance: $100M added to buyback
  • ININ: Q2 EPS of $0.01 beats by $0.10: revenue of $96.33M beats by $4.34M: revenue +20.7% Y/Y: cloud subscription revenue +58% Y/Y

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • ACHC, ACLS, AFG, AHS, AMSG, ARC, ATVI, AWAY, AWR, BKH, BW, CDE, CENT, CERN, CHUY, CSU, CVG, CWEI, CZR, DIS, DVA, DVN, DWA, ECOM, ECYT, ENPH, ENSG, EOX, EPAM, EPR, ETSY, EXAR, FSLR, FWM, G, GDOT, GLUU, GNW, HCI, HIW, HRZN, INAP, INVN, JCOM, JIVE, LBTYA, LC, LF, LGND, MASI, MATX, MBI, NBR, NEWP, NFX, NSTG, NYMT, OAS, OCLR, OFIX, OKE, OKS, PAA, PAGP, PAYC,  PKD, PQ, PRMW, PTLA, PXD, PZZA, QNST, QUAD, REGI, REXX, RIGL, RLOC, RMTI, RPAI, RXN, SBRA, SKT, SMCI, SUPN, SYNC, THOR, TMH, TWO, TX, UNTD, UNXL, USNA, WR, WTR, XEC, XXIA, Y, Z, ZAGG, ZEN

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • AA: upgrade: neutral to buy: UBS
  • URI: upgrade: sell to hold: Evercore
  • SSYS: upgrade: neutral to overweight: JP Morgan: $42
  • VA: upgrade: underperform to buy: BofA/Merrill
  • MNST: upgrade: neutral to buy: SunTrust: $290
  • DSW: upgrade: sector weight to overweight: KeyBanc
  • FE: upgrade: sector perform to outperform: RBC Capital: pt raised from $38 to $40

DOWNGRADES:

  • ALL: downgrade: conviction buy to neutral: Goldman
  • ALL: downgrade: outperform to sector perform: RBC Capital: pt cut from $77 to $69
  • GIL: downgrade: outperform to neutral: Credit Suisse:
  • CPA:downgrade: outperform to in-line: Imperial Capital: pt cut from $120 to $75
  • COP: downgrade: outperform to perform: Oppenheimer:
  • CGNX: downgrade: buy to hold: Canaccord:

INITIATIONS:

  • ADSK: initiated: outperform: William Blair:
  • TRU: initiated: outperform: RBC Capital: $28
  • TRU: initiated: overweight: JP Morgan: $28
  • EFX: initiated: outperform: RBC Capital: $117
  • VFC: initiated: buy: Canaccord: $88

PRICE TARGET CHANGES:

  • BMRN: pt raised from $163 to $168: Piper Jaffray
  • BMRN: pt raised from $140 to $160: William Blair
  • CMRX: pt raised from $44 to $63: Piper Jaffray
  • UHS: pt raised from $135 to $161: RBC Capital
  • NBL: pt cut from $57 to $53: RBC capital
  • APC: pt cut from $177 to $109: Imperial Capital
  • CPA: pt cut from $120 to $75: Imperial Capital
  • DO: pt cut from $20 to $16: FBR Capital
  • PXD: pt cut from $210 to $201: Imperial Capital
  • GWR: pt cut from $103 to $89: Cowen
  • GWR: pt cut from $89 to $85: RBC Capital
  • GWR: pt cut from $98 to $85: Stifel
  • TNET: pt cut from $39 to $26: Stifel
  • ONDK: pt cut from $24 to $17: Stifel

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