Retail Sales today | Morning News

stock market bearsDECEMBER 11, 2015

US futures trading lower following mostly red arrows around the world, adding to recent losses as oil tumbles and traders await retail sales today and  the Fed meeting next week. Crude trading lower after OPEC vows to keep oil output at high levels, which will help keep the global oil glut in play until late into 2016, according to the IEA. Baker -Hughes rig count will be in focus for the commodity later this afternoon. (1PM EST)

NEWS:

  • SUNE: SunEdison sells wind plants to JP Morgan JV for $209M
  • NLSN: launches a new $500M share repurchase plan
  • GWR:Genesee & Wyoming cuts Q4 EPS to 80c-85c from 90c-95c, consensus 94c
  • TTWO: ATVI: EA: GME:November NPD video game software sales dropped 7%
  • SNE: MSFT: November was the best month ever for 8th generation consoles

THE ECONOMIC CALENDAR:

  • 8:30AM: Producer Price Index
  • 8:30AM: Retail Sales
  • 10AM: Business Inventories
  • 10AM: Reuters/UofM Consumer Sentiment
  • 1PM: Baker-Hughes Rig Count

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • RH:FQ3 EPS of $0.65 beats by $0.02: revenue of $532.4M misses by $7.49M:revenue +9.8% y/y: guides revenue above consensus
  • ADBE:FQ4 EPS of $0.62 beats by $0.02: revenue of $1.31B in-line: revenue +22.4% y/y: weak FY guidance
  • FNSR:FQ2 EPS of $0.25 beats by $0.02: revenue of $321.14M beats by $7.28M: revenue +8.1% y/y: guides in-line
  • NDSN:FQ4 EPS of $0.95 misses by $0.12: revenue of $446.2M in-line: revenue -4.8% y/y: weak guidance

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

  • FSYS: Q3 EPS of -$0.48 misses by $0.35: revenue of $65.6M misses by $0.8M: revenue -22.9% y/y: cuts FY15 revenue to $255M-$265M from $270M-$280M

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • GVA: upgrade: market perform to outperform: FBR Capital: $48
  • AVB: upgrade: neutral to outperform: Baird: pt raised from $182 to $197
  • CVC: upgrade: neutral to overweight: JP Morgan: $35
  • WFT: upgrade: neutral to buy: Citi: $12
  • HOLX: upgrade: hold to buy: Stifel: $45
  • OLLI: upgrade: neutral to buy: BofA/Merrill
  • NUVA: upgrade; underperform to neutral: BofA/Merrill

DOWNGRADES:

  • GPRO: downgrade: buy to neutral: Citi: pt cut from $75 to $22
  • CMG: downgrade: buy to hold: Argus
  • PIR: downgrade: outperform to neutral: Credit Suisse: $7
  • SPLS: downgrade; buy to underperform: BofA/Merrill: pt cut from $21 to $9
  • PRTY: downgrade: buy to neutral: BofA/Merrill: pt cut from $21 to $16
  • TCS: downgrade; buy to underperform: BofA/Merrill: pt cut from $23 to $9

INITIATIONS:

  • TA: initiated: outperform: FBR Capital: $17
  • HAIN: initiated: buy: Wunderlich: $54
  • OREX: reinstated: underperform: BofA/Merrill
  • MSTR: initiated: buy: Mizuho: $200
  • STX: initiated: neutral: Mizuho: $38
  • WDC: initiated: neutral: Mizuho: $69
  • WWAV: initiated: buy: DA Davidson: $52
  • LWAY: initiated: buy: DA Davidson: $14
  • DF: initiated: neutral: DA Davidson: $19
  • BGS: initiated: neutral: DA Davidson :$39
  • PF: initiated: neutral: DA Davidson: $47
  • TDC: initiated: sell: Goldman
  • QLIK: initiated: buy: Goldman
  • HDP: initiated: buy: Goldman
  • ZEN: initiated: buy: Goldman: $33
  • DWRE: initiated: buy: Goldman:

PRICE TARGET CHANGES:

  • HIMX: pt raised from $8 to $10: Topeka Capital
  • ADBE: pt raised from $95 to $100: JP Morgan
  • ADBE: pt raised from $90 to $94: Wunderlich
  • ADBE: pt raised from $87 to $100: FBR Capital
  • ADBE: pt raised from $95 yo $104: Pivotal Research
  • ADBE: pt raised from $100 to $112: RBC Capital
  • AYI: pt raised from $200 to $275: Cowen
  • STZ: pt raised from $153 to $162: Stifel
  • MEET: pt raised from $4 to $5: Cowen
  • PAY: pt cut from $42 to $40: Stifel
  • ALXN: pt cut from $250 to $245: Stifel
  • CIEN: pt cut from $28 to $25: RBC Capital

 

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