WMT earnings | Morning News

stock market newsAUGUST 18. 2015

US futures pulling back at this 7AM hour as overseas market trade mostly in the red. The Shanghai fell more than 6% overnight as fears over another yuan depreciation rebounds. Meanwhile, oil continued it’s down move as numbers seem to suggest that traders have taken huge speculative bets on further falls and hedge funds have cut their net long holdings of Brent Crude for the fourth week.

NEWS:

  • ESPR: Esperion Therapeutics Will Not Require CVOT for FDA Approval for ETC-1002
  • SUNE: SunEdison, Goldman Sachs funds form $1 bln investment vehicle, reports reuters
  • SUNE: SunEdison announces $500M convertible preferred stock offering
  • NURO: reports positive clinical results for Quell wearable pain relief device
  • FB: Facebook tests revamped ‘notes’ to counter Tumblr and Medium, reports cnet
  • BA: Boeing delays test flight of aerial refueling tanker, reports the wsj
  • BBT: NPBC: BB&T to acquireNational Penn Bancshares for $1.8B in a cash and stock deal
  • BAM:Canada’s Brookfield Asset Management  is acquiring Australian ports operator Asciano for $6.6B

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Housing Starts
  • 8:55AM: Redbook Chain Store Sales

EARNINGS REPORTED BEFORE THE OPENING THIS MORNING:

  • HD: Q2 EPS of $1.71 in-line: revenue of $24.8B beats by $110M: revenue $4.2% Y/Y: raises guidance
  • WMT: Q2 EPS of $1.08 misses by $0.04: revenue of $120.2B beats by $480M: lowers guidance
  • TSL: Q2 EPADS of $0.42 beats by $0.17: revenue of $722.94M beats by $71.23M: revenue +39.2% Y/Y

RECAP OF SOME NOTABLE EARNINGS LAST NIGHT AFTER THE CLOSE:

  • A: FQ3 EPS of $0.44 beats by $0.03: revenue of $1.01B beats by $10M: light revenue guidance
  • URBN: Q2 EPS of $0.52 beats by $0.03: revenue of $867.46M misses by $13.7M

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • ADI, DV, LZB, PLAB, SINA, TEDU, WB

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • FEYE: upgrade: in-line to outperform: Imperial Capital: pt raised from $45.50 to $55
  • EL: upgrade: market perform to outperform: Telsey Advisory Group: $99
  • LEA: upgrade: neutral to buy: UBS: pt raised from $115 to $124
  • SHW: upgrade: sell to neutral: UBS: pt raised from $278 to $284
  • ZION: upgrade: equal weight to overweight: Barclays
  • INOV: upgrade: buy to conviction buy: Goldman
  • ECHO: upgrade: hold to buy: Stifel
  • COH: upgrade: hold to buy: Jefferies

DOWNGRADES:

  • PFG: downgrade: outperform to market perform: Keefe Bruyette
  • DIS: downgrade: outperform to market perform: Wells Fargo: pt range $112-119
  • PCP: downgrade: buy to neutral: UBS: pt cut from $244 to $235
  • SNDK: downgrade: neutral to underperform: BoA/Merrill; pt cut from $75 to $40
  • VRA: downgrade: buy to hold: Jefferies: $11

INITIATIONS:

  • AEP: initiated: buy: Mizuho: $65
  • FNSR: initiated: market perform: Northland Capital: $15
  • JUNO: initiated: outperform: FBR Capital: $73
  • CMRX: initiated; outperform: FBR Capital: $73
  • INFN: initiated: Northland Capital: $30
  • CIEN: initiated: Northland Capital:$25

PRICE TARGET CHANGES:

  • CASY: pt raised from $102 to $109: RBC Capital
  • NBIX: pt raised from $39 to $61: Jefferies
  • ZU: pt raised from $12 to $18.75: RBC Capital
  • URBN: pt cut from $36 to $34: Mizuho
  • URBN: pt cut from $40 to $37: RBC Capital
  • CI: pt cut from $184 to $182: RBC Capital

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