JUNE 11, 2015
US futures holding the flat line at this 7AM hour even as European markets surged overnight with the Greek Index pushing up 6.3% overnight on hopes of a solution to their monetary crisis. Investors looking to weekly jobless claims numbers and important retail sales data, due to be released before the market opens this morning.
NEWS:
- BA:DAL: Delta to purchase $4B 737-900ER jets from Boeing, reports Bloomberg
- NKE: Nike signs deal with NBA, logo to appear on uniforms, reports ESPN
- LULU: files to sell 20.1M shares for shareholders
- EBAY: NY raises consumer protection laws questions on new Ebay user agreement
- AMZN: Amazon targeted with European antitrust investigation over ebooks, reports theverge
- FB: Facebook Messenger top 1B Android downloads, and launches first messenger game
- AGIO: AG-120 for AML designated an Orphan Drug by the FDA
- PFPT: annonces plans to sell $150M in convertible senior notes
- SNE: launches iPad app for PlayStation Vue TV
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: $13B, 30 Year Note Auction
- 4:30PM: Money Supply and Fed Balance Sheet
RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:
- BOX:FQ1 EPS of -$0.28 beats by $0.03.Revenue of $65.62M beats by $1.92M: strong guidance
- KKD: FQ1 EPS of $0.24 beats by $0.02.Revenue of $132.47M misses by $3.52M: upbeat guidance
SOME NOTABLE EARNINGS AFTER THE CLOSE:
- KFY, LF, RH, RLD, XONE
ANALYSTS’ RATINGS CHANGES:
UPGRADES:
- NEM: upgrade: sector perform to outperform: RBC Capital: pt raised from $27 to $30
- TOL: upgrade: market perform to outperform: Credit Suisse: pt raised from $40 to $42
- FIS: upgrade: neutral to outperform: Baird: pt raised from $68 to $70
DOWNGRADES:
- CHK: downgrade: outperform to perform: Oppenheimer
- HOG: downgrade: outperform to neutral: Wedbush: pt cut from $74 to $57
- ADSK: downgrade: outperform to neutral: Wedbush: pt cut from $64 to $57
- HCC: downgrade: outperform to market perform: Keefe, Bruyette & Woods: $78
INITIATIONS:
- HOS: initiated: overweight: Barclays: $26
- NE: initiated: underweight: Barclays: $13
- DO: initiated: underweight: Barclays: $24
- RIG: initiated: underweight: Barclays: $14
- AWAY: initiated: overweight: Stephens: $40
PRICE TARGET CHANGES:
- NFLX: pt raised from $723 to $746: Topeka Capital
- JBL: pt raised from $23 to $24: RBC Capital
- FDX: pt raised from $180 to $195: RBC Capital
- SWKS: pt raised from $105 to $115: Northland
- MBLY: pt range raised from $51-54 to $56-60: Wells Fargo
- FRAN: pt cut from $16 to $15: FBR Capital
- BABA: to cut from $136 to $124: HSBC
