TWTR | Morning News

stock market newsJUNE 12, 2015

US futures slipping after European markets pull back on renewed concerns over the Greek debt crisis. The dollar pushed higher against most currencies as investors await the results of the FOMC meeting next week which should give some movement to the dollar.  Oil futures dipped overnight as the market goes back to worrying about overproduction and oversupply.

NEWS:

  • BBRY: GOOG: GOOGL:BlackBerry may put Android system on new device, reports reuters
  • DISH: TMUS: Dish Network in Talks with Banks About Funding T-Mobile Bid, that would include as much as $15B in cash, reports the wsj
  • TWTR: Dick Costolo is stepping down as CEO, effective July 1. Co-founder/chairman Jack Dorsey will serve as interim CEO while the board searches for a permanent successor
  • GOOG: GOOGL:French regulator ups pressure on Google on ‘right to be forgotten’, reports reuters
  • SNE: TTWO: EA: GME: ATVI: May 2015 NPD video game sales decline 25% but Sony’s PlayStation 4 tops console sales as The Witcher III has strong debut
  • URI: Janus Partners files, 6% state in United Rentals. reports reuters
  • FRO: files to sell $100M mixed security shelf and 55m ordinary share offering

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Producer Price Index
  • 10AM: Reuters/UofM Consumer Sentiment

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT:

  • RH: FQ1 EPS of $0.23 beats by $0.03.Revenue of $422.44M beats by $3.47M: guidance FY15 ,revenue of $2.146B-$2.176B v. $2.17B consensus and EPS of $3.02-$3.15 v. $3.04 consensus
  • LF: FQ4 EPS of -$0.56 misses by $0.35.Revenue of $33.93M misses by $14.4M: soft guidance
  • XONE: FQ1 EPS of -$0.53 misses by $0.24.Revenue of $6.79M misses by $1.33M: conference call set for 06/12 at 8:30AM EST

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • NEM: upgrade: sector perform to outperform: RBC: $30
  • MNST: upgrade: neutral to buy: UBS: pt raised from $148 to $154
  • DRI: upgrade: market perform to outperform: Credit Suisse: $77
  • WSM: upgrade: market perform to outperform: Oppenheimer: $90
  • CTXS: upgrade: neutral to buy: BofA/Merrill: $82
  • DLR: upgrade: buy to hold: Canaccord: pt raised from $72 to $77
  • HES: upgrade: hold to buy: Citi:
  • HCP: upgrade: underperform to neutral: Mizuho: pt raised from $37 to $39

DOWNGRADES:

  • GMCR: downgrade: buy to neutral: UBS: pt cut from $114 to $86
  • MJN: downgrade: buy to neutral: Nomura

INITIATIONS:

  • CBI: initiated: overweight: JP Morgan: $65
  • ACM: initiated: overweight: JP Morgan: $40
  • PWR: initiated: overweight: JP Morgan

PRICE TARGET CHANGES:

  • ADBE: pt raised from $83 to $88: RBC Capital
  • GWR: pt cut from $95 to $89: RBC Capital
  • MU: pt cut from $39 to $32: KeyBanc
  • LUV: pt cut from $47 to $42: UBS
  • TWTR: pt range cut from $42-44 to $36-38
  • ATHN: pt cut from $152 to $150: Topeka Capital

 

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