Yellen | Morning News

adjust stock trading strategiesSEPTEMBER 24, 2015

US futures track to open lower at this 7AM hour as markets trade mixed around the world as investors remain cautious into Janet Yellen’s speech tonight at 5PM EST. Crude finding support and trading higher after China’s Xi announced openness to foreign investments.

NEWS:

  • CSCO: announces a joint-venture with server maker Inspur to sell networking and cloud computing products in China
  • FB: Facebook launches 360 degree video, reports newsroom.fb
  • KERX: Keryx announces ¬†EU approval for Fexeric treatment of Hyperphosphatemia
  • ACN: Alba Leasing Launches Digital Transformation Program with Help from Accenture, reports businesswire

ON THE ECONOMIC CALENDAR:

  • 8:30AM: Weekly Jobless Claims
  • 8:30AM: Durable Goods
  • 8:30AM: Chicago Fed National Activity Index
  • 9:45AM: Bloomberg Consumer Comfort Index
  • 10AM: New Home Sales
  • 10:30AM: EIA Natural Gas Inventory
  • 11AM: Kansas City Fed Manufacturing Survey
  • 1PM: $29B, 7 Year Note Auction Results
  • 4:30PM: Money Supply and Fed Balance Sheet
  • 5PM: Janet Yellen Speaks

SOME NOTABLE EARNINGS AFTER THE CLOSE YESTERDAY:

  • FUL: FQ3 EPS of $0.61 misses by $0.09: revenue of $524.13M misses by $13.02M: guides below estimates
  • SCS: FQ2 EPS of $0.35 beats by $0.03: revenue of $819M beats by $22.4M: revenue +4.15% Y/Y: guides in-line
  • WOR:FQ1 EPS of $0.54 beats by $0.03: revenue of $758.15M misses by $86.81M: revenue -12.1% Y/Y

EARNINGS REPORTED BEFORE THE OPENING TODAY:

  • ACN: FQ4 EPS of $1.15 beats by $0.03: revenue of $7.89B beats by $210M: revenue +1.4% Y/Y
  • SCHL: FQ1 EPS of -$1.42 beats by $0.09: revenue of $191.2M beats by $0.7M: revenue -32.6% Y/Y

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • AIR, BBBY, CTAS, JBL, NKE, PIR

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • AEG: upgrade: neutral to buy: Goldman:
  • KATE: upgrade: equal weight to overweight: Stephens: $33
  • MNST: upgrade; neutral to buy: Goldman: pt raised from $160 to $165
  • QYLS: upgrade: underperform to neutral: Macquarie: $31
  • RL: upgrade: Citigroup: $125
  • AMCX: upgrade: hold to buy: Evercore

DOWNGRADES:

  • DGI: downgrade: overweight to neutral: JP Morgan
  • ETR: downgrade: neutral to sell: UBS: pt cut from $73 to $59
  • ARCW: downgrade: outperform to in-line: pt cut from $9 to $5

INITIATIONS:

  • MLNX: initiated: buy: DA Davidson: $60
  • IT: initiated: equal weight: Morgan Stanley: $90
  • SCTY: initiated: buy: Stifel: $64
  • LITE: initiated: buy: MKM Partners: $22
  • SPKE: initiated: buy: Janney Capital: $20
  • CAT: initiated: sell: Axiom: $28

PRICE TARGET CHANGES:

  • RDUS: pt raised from $70 to $85: Canaccord
  • CUDA: pt cut from $47 to $41: Imperial Capital
  • AXP: pt cut from $85 to $70: Jefferies
  • YELP: pt cut from $21.50 to $17.75: ¬†Northland

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