Retail Sales Focus |Morning News

Retail_Sales__Stuart_Miles_-_Fotolia-comAUGUST 13, 2015

US futures poised to open higher at this 7AM hour, with overseas markets recovering from two days of selling, after China slowed the yuan free fall. Traders focus will turn to the US Commerce Department’s retail sales data, which is expected to show a healthy rebound after an surprise decline in June. Overnight, gold traded lower after the World Gold Council reported that the global demand for the commodity has fallen 12%, in the second quarter, to a six year low. Oil continues to see higher prices this morning after a strong demand forecast by the IEA and a drop in US production.

NEWS:

  • FANG: announces public offering of 2M common shares
  • SHAK: prices secondary offering at $60
  • XOM: Exxon sells Upper Zakum crude at highest premium in 10 months, reports reuters
  • SUNE: D: SunEdison Announces Dominion Partnership in 420 Megawatt, Four Brothers Solar Project in Utah, reports prnewswire
  • TSLA: Plans Supercharger Partnerships with Manhattan Parking Garages, reports street insider
  • TSLA: files to sell 2.1M shares of common stock, Elon Musk will be the buyer of approx 84K shares
  • AAPL: with iPad sales falling, Apple pushes into businesses:¬†working with more than 40 companies to make the iPad a more appealing work tool, reports the wsj
  • S: Softbank increases Sprint stake by nearly $87M, reports the wsj
  • SSNLF: AAPL: AMZN: GOOGL: GOOG: Samsung is expected to launch three new phones, including two big screen Galaxy smartphones today at “Unpacked 2015” in NYC, reports ibtimes

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Retail Sales
  • 8:30AM: Import/Export Prices
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: Business Inventories
  • 10:30AM: EIA Natural Gas Inventory
  • 1PM: $16B, 30 Year Note Auction
  • 4:30PM: Money Supply and Fed Balance Sheet

EARNINGS REPORTED BEFORE THE OPENING TODAY:

  • CAAS: Q2 EPS of $0.24 beats by $0.03: revenue of $109.17M misses by $20.9M
  • STOR: FQ4 EPS of $0.08 beats by $0.01: revenue of $1.02B beats by $20.99M
  • COTY: FQ4 EPS of $0.08 beats by $0.01: revenue of $1.02B beats by $20.99M
  • KSS: Q2 EPS of $1.07 misses by $0.09: revenue of $4.27B misses by $40M

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • JUNO: Q2 EPS of -$0.35 misses by $0.04: revenue of $12.5M beats by $10.47M
  • NTES: Q2 EPS of RMB10.77 misses by RMB0.11: revenue of RMB4.83B beats by RMB450M: revenue +74.4% Y/Y
  • CSCO: FQ4 EPS of $0.59 beats by $0.03: Revenue of $12.8B beats by $150M: guides in-line

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • AMAT, ANY, AZPN, BLCM, DAR, JWN, KING, LOCO, PAAS, PCTY, PRSS, RARE, WX, YY

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • LM: upgrade: equal weight to overweight: Barclays: pt raised from $55 to $57
  • COF: upgrade: hold to buy: Argus: $92
  • NLY: upgrade: neutral to buy: Compass Point: $11
  • MNST: upgrade: equal weight to overweight: Morgan Stanley: $160
  • MRK: upgrade: market perform to outperform: BMO Capital: pt raised from $65 to $70
  • MSFT: upgrade: hold to buy: Stifel: $55
  • QLIK: upgrade: hold to buy: Deutsche Bank: pt raised from $42 to $50
  • EXR: upgrade: market perform to outperform: BMO Capital

DOWNGRADES:

  • SSI: downgrade: buy to neutral: Sterne Agee
  • CYT: downgrade: overweight to sector weight: KeyBanc

INITIATIONS:

  • LITE: initiated: buy: UBS: $23
  • GPRO: initiated: outperform: Cowen: $76
  • GWPH: initiated: outperform: Morgan Stanley: $150
  • ICPT: initiated: underweight: Morgan Stanley: $165
  • NEM: initiated: outperform: BMO Capital: $23.50
  • KERX: initiated: underweight: Morgan Stanley: $3
  • NTCT: initiated: outperform: RBC Capital: $48
  • INCY: initiated: overweight: Barclays: $125

PRICE TARGET CHANGES:

  • SEDG: pt raised from $35 to $40: Roth Capital
  • FIS: pt raised from $71 to $85: Stephens
  • ADPT: pt raised from $109 to $130: Piper Jaffray
  • WWAV: pt raised from $47 to $49: Imperial Capital
  • WHR: pt raised from $210 to $213: RBC Capital
  • EL: pt raised from $92 to $99: Telsey Advisory Group
  • M: pt cut from $72 to $66: Telsey Advisory Group
  • GMCR: pt cut from $151 to $63: Williams Capital Group
  • GMCR: pt cut from $100 to $58: Roth Capital
  • ACHN; pt cut from $19 to $11
  • YHOO: pt cut from $57 to $51: UBS
  • BABA: pt cut from $112 to $101: UBS
  • BABA: pt cut from $97 to $92: Brean Capital
  • BABA: pt cut from $110 to $90: RBC Capital
  • SUNE: pt cut from $36 to $24: RBC Capital
  • SFLY: pt cut from $54 to $52: Axiom Capital

 

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