Volatility Continues | Morning News

trading diciplineAUGUST 31, 2015

US futures poised for another negative opening at this 7AM hour as the roller coaster continues adding considerable volatility to the markets. Uncertainly still hangs in the air over the timing of interest rate hikes as well as the weakness in the Chinese economy. Shanghai took another plunge overnight, closing out August down 12.5%, following reports that Beijing scrapped large-scale share purchases as a method of propping up markets. Oil prices falling as the commodity struggles to hold its gain from late last week.

 NEWS:

  • NFLX:Epix signing distribution deal with Hulu to replace Netflix, reports SA
  • EPI: India’s GDP to be announced at 9:30AM EST
  • CG: BTH: Carlyle Group to buy Blyth in $98M deal
  • PSX: Bershire Hathaway discloses $4.5B stake in Phillips 66
  • FOLD: Amicus Therapeutics to buy Scioderm for $950M
  • AAPL: the company considering raising the price when the new Apple TV debuts next month, reports mac9to5
  • AAPL: Apple”s Ad Blockers In IOS 9 Raise Tensions With Publishers, reports nasdaq
  • PYPL: Paypal has possibility of 40% upside, reports Barrons
  • ICPT: NDA for OCA accepted for priority review by FDA
  • ABGB: Abengoa announces $13M contract to provide sanitation work in Uraguay

ON THE ECONOMIC CALENDAR:

  • 9:30AM: Chinese GDP
  • 9:45AM: Chicago PMI
  • 10:30AM: Dallas Fed Manufacturing Survey
  • 3PM: Farm Prices

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • ADEP, BV, DANG, MTRX

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • BIDU: upgrade: hold to buy: Jefferies: $210
  • TWTR: upgrade: neutral to buy: SunTrust: $38
  • MS: upgrade: hold to buy: Evercore: $41
  • GS: upgrade: hold to buy: Evercore: $215
  • INTC: upgrade: market perform to outperform: Northland: $32
  • JCP: upgrade: hold to buy: Deutsche Bank: pt raised from $10 to $12
  • CEO: upgrade: neutral to buy: BofA/Merrill
  • DOV: upgrade: market perform to outperform: Bernstein: pt raised from $70 to $73
  • PAAS: upgrade: market perform to outperform: Scotia Howard Well
  • SWK: upgrade: neutral to outperform: Macquarie: $120
  • THC: upgrade: market perform to outperform: BMO Capital

DOWNGRADES:

  • UTX: downgrade: overweight to equal weight: Barclays: pt cut from $120 to $100
  • SCCO: downgrade: overweight to neutral: JP Morgan: pt cut from $37 to $31.50
  • PTR: downgrade: buy to neutral: BofA/Merrill

INITIATIONS:

  • PLNT: initiated: overweight: Piper Jaffray: $19
  • PLNT: initiated: outperform: Cowen: $21
  • PLNT: initiated: overweight: JP Morgan: $20
  • SUNE: initiated: overweight: JP Morgan: $24
  • SUNE: initiated: outperform: Macquarie: $20
  • BETR: initiated: neutral: Goldman: $18
  • BETR: initiated: overweight: Piper Jaffray:
  • HIBB: initiated; outperform: Baird: $22
  • AIMT: initiated: overweight: Piper Jaffray: $35
  • RUN: initiated: outperform: RBC Capital: $16

PRICE TARGET CHANGES:

  • ALNY: pt raised from $180 to $184: Piper Jaffray
  • AKAM: pt raised from $77 to $80: Deutsche Bank
  • BNS: pt raised from $70 to $73: RBC Capital
  • MDCO: pt raised from $39 to $46: RBC Capital
  • CY: pt cut from $23 to $21: Mizuho

 

 

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