TSLA | Morning News

tesla-logoSEPTEMBER 29, 2015

With world markets mostly lower, US markets set to open modestly higher at this 7AM hour as investors await data on home price sales and chain store sales this morning before the opening bell. Overnight, crude traded higher on expectation of a slower production output from the US.

NEWS:

  • JNPR: Juniper Networks to Work With British Airways to Build Private Cloud and Next-Generation Core, reports businesswire
  • TSLA:Tesla Prepares to Launch Electric SUV Today, reports wsj
  • AMZN: Amazon Taps ‘On-Demand’ Workers for One-Hour Deliveries, reports wsj
  • RAI: Reynolds sells their Natural American Spirit assets to Japan Tobacco for $5B
  • OVAS: announces that it doesn’t expect to meet its 2015 goal of 1,000 treatment cycles for its Augment fertility option
  • EPI: India cuts interest rates by 50 bps
  • LNG: Icahn increases his stake in Cheriere Energy to 11.43% from 9.6%
  • AAPL: Icahn holding his Apple position
  • MDT: announces that it will take a $500M charge in its Q2 on restructuring from its $50B acquisition of Covidien
  • VRX: UBS reiterates a buy on the stock with a $285 pt

ON THE ECONOMIC CALENDAR:

  • 8:55AM: Redbook Chain Store Sales
  • 9AM: S&P Case Shiller Home Price Index
  • 10AM: Consumer Confidence
  • 10AM: State Street Investor Confidence Index
  • 3PM: Farm Prices

EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

  • CMTL: FQ4 EPS of $0.34 misses by $0.03: revenue of $77.46M misses by $5.11M: revenue -13.3% Y/Y: weak guidance
  • SNX: FQ3 EPS of $1.47 beats by $0.04: revenue of $3.33B misses by $50M: revenue -5.9% Y/Y: guides below consensus

EARNINGS REPORTED THIS MORNING BEFORE THE OPENING:

  • IHS: FQ3 EPS of $1.56 beats by $0.09: revenue of $587.95M beats by $8.88M: revenue +5.7% Y/Y

SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE CLOSE TODAY:

  • COST, CUDA, DMND, LNDC

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • BMY: upgrade: neutral to buy: UBS: pt raised from 465 to $75
  • RTN: upgrade: neutral to buy: UBS: pt raised from $111 to $118
  • ALV: upgrade: sell to neutral: Goldman: $119
  • LNC: upgrade: neutral to overweight: Piper Jaffray: $62
  • NXST: upgrade: hold to buy: Jefferies: $57
  • CERN: upgrade: sector perform to outperform: RBC Capital: $70
  • JNJ: upgrade: hold to buy: Deutsche Bank: $110
  • THO: upgrade: market perform to outperform: BMO Capital
  • BG: upgrade: neutral to outperform: Credit Suisse: $85
  • MU: upgrade: market perform to outperform: Wells Fargo: pt range $16-19
  • MCD: upgrade: market perform to outperform: Credit Suisse: pt raised from $110 to $112

DOWNGRADES:

  • VSTM: downgrade: buy to neutral: UBS: pt cut from $16 to $2
  • GLBL: downgrade: overweight to neutral: JP Morgan: pt cut from $17 to $14

INITIATIONS:

  • BWLD: initiated: market perform: Telsey Advisory: $220
  • CAKE: initiated: market perform: Telsey Advisory: $60
  • CMG: initiated: market perform: Telsey Advisory: $800
  • CHUY: initiated: outperform: Telsey: $32
  • CBRL: initiated: market perform: Telsey Advisory: $165
  • PNRA: initiated: outperform: Telsey Advisory: $225
  • TXRH: initiated: outperform: Telsey Advisory: $44
  • JACK: initiated: outperform: Telsey Advisory: $95
  • SONC: initiated: outperform: Telsey Advisory: $29
  • OXY: initiated: outperform: BMO Capital:

PRICE TARGET CHANGES:

  • YHOO: pt cut from $43 to $40: Mizuho
  • IMOS: pt cut from $25 to $23: Cowen
  • BBRY: pt cut from $9.50 to $7: Imperial Capital
  • ESPR: pt cut from $36 to $29: Chardan Capital
  • ENDP: pt cut from $96 to $74: Leerink

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