Showing posts with label ANTM. Show all posts
Showing posts with label ANTM. Show all posts

Wednesday, January 27, 2016

MORNING CALL 1/27

MORNING CALL
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 -0.51%) are down -0.67% and European stocks are down -1.04% as technology stocks slide, led by a 3% decline in Apple in pre-market trading, after it reported fewer-than-expected iPhones sold in Q1 and forecast a smaller-than-expected increase in Q2 revenue. The fall in China's Shanghai Composite to a 13-3/4 month low is also negative for stocks as is the -3.59% decline in crude oil prices that is undercutting energy producing stocks. The markets will be on edge ahead of the post-FOMC meeting statement later this afternoon. Asian stocks settled mixed: Japan +2.72%, Hong Kong +1.02%, China -0.52%, Taiwan +0.27%, Australia -1.20%, Singapore +0.02%, South Korea +1.66%, India +0.03%. China's Shanghai Composite fell to a 13-3/4 month low on economic concerns after China December industrial profits fell for a seventh month, although Japan's Nikkei Stock Index rallied up to a 1-week high and closed higher as carmakers rallied after the Nikkei newspaper reported that Toyota Motor may align with Suzuki Motor to better compete in emerging markets. Another positive sign for Japanese stocks was exchange data that showed short sales made up 43% of trading on the Tokyo Stock Exchange as of Tuesday's close, the highest this year. The last time short sales were this high was Sep 29, which marked the bottom of the market for several months.
The dollar index (DXY00 -0.37%) is down -0.35%. EUR/USD (^EURUSD) is up +0.05%. USD/JPY (^USDJPY) is down -0.12%.
Mar T-note prices (ZNH16 -0.07%) are down -2 ticks.
German Feb GfK consumer confidence was unch at 9.4, stronger than expectations of -0.1 to 9.3.
China Dec industrial profits fell -4.7% y/y, the seventh consecutive month that profits have declined.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) the outcome of the 2-day FOMC meeting that concludes today, (2) weekly MBA mortgage applications (previous +9.0% with purchase sub-index -1.6% and refi sub-index +18.7%), (3) Dec new home sales (expected +2.0% to 500,000, Nov +4.3% to 490,000), and (4) the Treasury's auction of $15 billion of 2-year floating-rate notes and $35 billion of 5-year T-notes.
There are 33 of the S&P 500 companies that report earnings today with notable reports including: Facebook (consensus $0.78), Boeing (1.37), PayPal (0.35), Discover Financial (1.30), E-Bay (0.50).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week: Cleantech Forum San Francisco on Tue-Wed, Real Estate Capital Markets 2016 Seminar on Wed.






OVERNIGHT U.S. STOCK MOVERS
Apple (AAPL +0.55%) dropped over 3% in pre-market trading after it reported shipments of 74.8 million iPhone units in Q1, short of projections of 75.5 million, and forecast Q2 revenue of $50 billion-$53 billion, below consensus of $55.5 billion.
AT&T (T +1.14%) slid nearly 2% in after-hours trading after it reported Q4 adjusted EPS of 63 cents, right on expectations, although Q4 revenue of $42.1 billion was below expectations of $42.7 billion, and new monthly subscribers rose 526,000, less than estimates of 555,000.
Stryker (SYK +1.71%) was upgraded to 'Buy' from 'Hold' at Brean Capital with a 12-month price target of $115.
Anthem (ANTM -0.66%) reported Q4 EPS of $1.14, below consensus of $1.18.
CA Technologies (CA +2.29%) climbed over 4% in after-hours trading after it reported Q3 adjusted EPS of 63 cents, higher than consensus of 58 cents.
U.S. Steel (X +12.28%) dropped over 9% in after-hours trading after it said it sees 2016 Ebitda near break-even, weaker than consensus of +$353.5 million.
Hawaiian Holdings (HA +2.31%) gained 5% in after-hours trading after it reported Q4 adjusted EPS of 85 cents, better than consensus of 84 cents, and said it sees Q1 capacity up 2.5% to 4.5%.
Ethan Allen (ETH +2.66%) climbed nearly 5% in after-hours trading after it reported Q2 adjusted EPS of 55 cents, better than consensus of 44 cents.
Capital One Financial (COF +2.93%) rose 1% in after-hours trading after it reported Q4 adjusted EPS of $1.67, higher than consensus of $1.61.
Raptor Pharmaceutical (RPTP +3.66%) surged over 15% in after-hours trading after Citigroup upgraded it to 'Buy' from 'Neutral.'
Total System Services (TSS +1.70%) slid over 4% in after-hours trading after it reported Q4 adjusted EPS continuing operations of 57 cents, below consensus of 60 cents.
Lannett (LCI +1.22%) tumbled over 10% in after-hours trading after it forecast Q2 adjusted EPS of 93 cents-95 cents, below consensus of 98 cents, and then lowered adjusted gross margins of fiscal 2016 sales to 61%-63% of net sales, below an earlier forecat of 71%-73%.
Fate Therapeutics (FATE +0.81%) soared 17% in after-hours trading after it announced FDA clearance of Investigational New Drug Application for its ProTmune for prevention of acute GvHD and CMV infection.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 -0.51%) this morning are down -12.75 points (-0.67%). Tuesday's closes: S&P 500 +1.41%, Dow Jones +1.78%, Nasdaq +0.89%. The S&P 500 index on Tuesday closed higher on strength in crude oil prices that boosted energy producing stocks and on the unexpected +1.8 point increase in U.S. Jan consumer confidence to 98.1 (stronger than expectations of unch at 96.5). Stocks were undercut by the -6.42% plunge in the Shanghai Composite to a 13-1/2 month low.
Mar 10-year T-notes (ZNH16 -0.07%) this morning are down -2 ticks. Tuesday's closes: TYH6 +8.50, FVH6 +4.75. Mar T-notes on Tuesday closed higher on the -6.42% plunge in the Shanghai Composite Index to a 13-1/2 month low, which may delay a Fed rate hike, and on carryover support from a rally in German bunds to a 4-3/4 month high. T-note prices were undercut by a rally in stocks that curbed the safe-haven demand for T-notes.
The dollar index (DXY00 -0.37%) this morning is down -0.347 (-0.35%). EUR/USD (^EURUSD) is up +0.0005 (+0.05%). USD/JPY (^USDJPY) is down-0.14 (-0.12%). Tuesday's closes: Dollar Index unch, EUR/USD +0.0021 (+0.19%), USD/JPY +0.12 (+0.10%). The dollar index on Tuesday closed little changed. The dollar was undercut by the rally in crude oil that boosted the Canadian dollar to a 3-week high against the dollar, and by long liquidation in the dollar ahead of the results of the Wed/Thu FOMC meeting that could result in a more dovish tone. The dollar found some support on the stronger-than-expected Jan U.S. consumer confidence report.
Mar crude oil (CLH16 -2.89%) this morning is down -$1.13 a barrel (-3.59%) and Mar gasoline (RBH16 -2.83%) is down -0.0388 (-3.63%). Tuesday's closes: CLH6 +0.17 (+0.56%), RBH6 -0.0090 (-0.86%). Mar crude oil and gasoline on Tuesday settled mixed. Crude oil was boosted by Iraqi Oil Minister Adel Abdul Hahdi's comment that Saudi Arabia and Russia are now more flexible about cooperating to cut crude oil output. Crude oil prices were undercut by the plunge in China's Shanghai Composite to 13-1/2 month low, a sign of economic weakness, and by expectations for Wednesday’s EIA inventory report to show U.S. crude supplies rose +4.0 million bbl.
GLOBAL EVENT CALENDAR01/27/2016
US0700 ETWeekly MBA mortgage applications, previous +9.0% with purchase sub-index -1.6% and refi sub-index +18.7%.
1000 ETDec new home sales expected +2.0% to 500,000, Nov +4.3% to 490,000.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $15 billion 2-year floating-rate notes.
1300 ETTreasury auctions $35 billion 5-year T-notes.
1400 ETFOMC announces interest rate decision.
GER0200 ETGerman Feb GfK consumer confidence expected -0.1 to 9.3, Jan 9.4.
UK0200 ETUK Jan nationwide house prices expected +0.6% m/m and +4.7% y/y, Dec +0.8% m/m and +4.5% y/y.
JPN1850 ETJapan Dec retail sales expected +1.0% m/m and +0.2% y/y, Nov -2.5% m/m and -1.1% y/y.
U.S. STOCK CALENDAR01/27/2016

CompanyTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ4 2015 Earnings ReleaseQ4 2015-1.458
Boeing Co/TheBA USBef-mktQ4 2015 Earnings ReleaseQ4 20151.267
General Dynamics CorpGD USBef-mktQ4 2015 Earnings ReleaseQ4 20152.376
Progressive Corp/ThePGR USBef-mktQ4 2015 Earnings ReleaseQ4 20150.463
Progressive Corp/ThePGR USBef-mktQ4 2015 Earnings Release - December SalesQ4 20150.463
Textron IncTXT USBef-mktQ4 2015 Earnings ReleaseQ4 20150.828
United Technologies CorpUTX USBef-mktQ4 2015 Earnings ReleaseQ4 20151.521
Biogen IncBIIB USBef-mktQ4 2015 Earnings ReleaseQ4 20154.072
State Street CorpSTT USBef-mktQ4 2015 Earnings ReleaseQ4 20151.185
Rockwell Automation IncROK USBef-mktQ1 2016 Earnings ReleaseQ1 20161.328
Anthem IncANTM US6:00Q4 2015 Earnings ReleaseQ4 20151.177
EMC Corp/MAEMC US7:00Q4 2015 Earnings ReleaseQ4 20150.648
St Jude Medical IncSTJ US7:15Q4 2015 Earnings ReleaseQ4 20151.011
Illinois Tool Works IncITW US8:00Q4 2015 Earnings ReleaseQ4 20151.205
Norfolk Southern CorpNSC US8:00Q4 2015 Earnings ReleaseQ4 20151.241
Textron IncTXT US8:00Q4 2015 Earnings CallQ4 2015
St Jude Medical IncSTJ US8:00Q4 2015 Earnings CallQ4 2015
Navient CorpNAVI US8:00Q4 2015 Earnings CallQ4 2015
EMC Corp/MAEMC US8:30Q4 2015 Earnings CallQ4 2015
United Technologies CorpUTX US8:30Q4 2015 Earnings CallQ4 2015
Biogen IncBIIB US8:30Q4 2015 Earnings CallQ4 2015
Chubb LtdCB US8:30Q4 2015 Earnings CallQ4 2015
Rockwell Automation IncROK US8:30Q1 2016 Earnings CallQ1 2016
Anthem IncANTM US8:30Q4 2015 Earnings CallQ4 2015
Norfolk Southern CorpNSC US8:45Q4 2015 Earnings CallQ4 2015
CMS Energy CorpCMS US9:00Business Update Call
Walgreens Boots Alliance IncWBA US9:00Annual General MeetingY 2016
Kinder Morgan Inc/DEKMI US9:00Analyst DayY 2016
State Street CorpSTT US9:30Q4 2015 Earnings CallQ4 2015
Hess CorpHES US10:00Q4 2015 Earnings CallQ4 2015
Illinois Tool Works IncITW US10:00Q4 2015 Earnings CallQ4 2015
Boeing Co/TheBA US10:30Q4 2015 Earnings CallQ4 2015
General Dynamics CorpGD US11:30Q4 2015 Earnings CallQ4 2015
Johnson Controls IncJCI US15:00Annual General Meeting
McKesson CorpMCK US16:00Q3 2016 Earnings ReleaseQ3 20163.139
Facebook IncFB US16:00Run TLIV for Top Live Blog
Citrix Systems IncCTXS US16:05Q4 2015 Earnings ReleaseQ4 20151.192
Texas Instruments IncTXN US16:30Q4 2015 Earnings ReleaseQ4 20150.694
eBay IncEBAY US16:30Q4 2015 Earnings CallQ4 2015
QUALCOMM IncQCOM US16:45Q1 2016 Earnings CallQ1 2016
Citrix Systems IncCTXS US16:45Q4 2015 Earnings CallQ4 2015
Varian Medical Systems IncVAR US17:00Q1 2016 Earnings CallQ1 2016
Lam Research CorpLRCX US17:00Q2 2016 Earnings CallC4 2016
Vertex Pharmaceuticals IncVRTX US17:00Q4 2015 Earnings CallQ4 2015
Tractor Supply CoTSCO US17:00Q4 2015 Earnings CallQ4 2015
McKesson CorpMCK US17:00Q3 2016 Earnings CallQ3 2016
Juniper Networks IncJNPR US17:00Q4 2015 Earnings CallQ4 2015
Facebook IncFB US17:00Q4 2015 Earnings CallQ4 2015
Discover Financial ServicesDFS US17:00Q4 2015 Earnings CallQ4 2015
PayPal Holdings IncPYPL US17:00Q4 2015 Earnings CallQ4 2015
Murphy Oil CorpMUR USAft-mktQ4 2015 Earnings ReleaseQ4 2015-1.279
Varian Medical Systems IncVAR USAft-mktQ1 2016 Earnings ReleaseQ1 20160.923
Lam Research CorpLRCX USAft-mktQ2 2016 Earnings ReleaseQ2 20161.423
QUALCOMM IncQCOM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.909
Vertex Pharmaceuticals IncVRTX USAft-mktQ4 2015 Earnings ReleaseQ4 20150.143
Tractor Supply CoTSCO USAft-mktQ4 2015 Earnings ReleaseQ4 20150.817
SanDisk CorpSNDK USAft-mktQ4 2015 Earnings ReleaseQ4 20150.897
SL Green Realty CorpSLG USAft-mktQ4 2015 Earnings ReleaseQ4 20151.606
United Rentals IncURI USAft-mktQ4 2015 Earnings ReleaseQ4 20152.332
Crown Castle International CorpCCI USAft-mktQ4 2015 Earnings ReleaseQ4 20151.11
eBay IncEBAY USAft-mktQ4 2015 Earnings ReleaseQ4 20150.497
Juniper Networks IncJNPR USAft-mktQ4 2015 Earnings ReleaseQ4 20150.595
Ameriprise Financial IncAMP USAft-mktQ4 2015 Earnings ReleaseQ4 20152.348
Facebook IncFB USAft-mktQ4 2015 Earnings ReleaseQ4 20150.678
Discover Financial ServicesDFS USAft-mktQ4 2015 Earnings ReleaseQ4 20151.301
PayPal Holdings IncPYPL USAft-mktQ4 2015 Earnings ReleaseQ4 20150.345
Texas Instruments IncTXN US17:30Q4 2015 Earnings CallQ4 2015
Cisco Systems IncCSCO USITC Due to Release Findings in Cisco Systems vx. Arista Networks Patent Case
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , , , , ,

Thursday, December 3, 2015

MORNING CALL 12/3

MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.49%) are up +0.56% and European stocks are up +1.22% before an expected expansion of ECB stimulus and before Fed Chair Yellen gives another speech later today. Gains in European automakers led the overall market higher as a -0.65% slide in EUR/USD (^EURUSD) to a 7-1/2 month low gives exporters a boost. On the negative side, mining stocks fell with Anglo American Plc at a 16-year low and BHP Billiton Ltd. near a 7-year low, as metals prices retreated with the price of gold (GCG16 -0.36%) down -0.40% to a new 5-3/4 year low. Asian stocks settled mixed: Japan +0.01%, Hong Kong -0.28%, China +1.35%, Taiwan -0.02%, Australia -0.58%, Singapore +0.01%, South Korea -0.78%, India-0.89%. China's Shanghai Composite moved higher for a fourth day on speculation that China will soon expand its stimulus measures.
The dollar index (DXY00 +0.42%) is up +0.40%. EUR/USD (^EURUSD) is down -0.65% at a 7-1/2 month low on anticipation the ECB will expand QE later today. USD/JPY (^USDJPY) is up +0.19%.
Mar T-note prices (ZNH16 -0.07%) are down -5.5 ticks.
Eurozone Oct retail sales fell -0.1% m/m and rose +2.5% y/y, weaker than expectations of +0.2% m/m and +2.6% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Nov Challenger job cuts (Oct -1.3% y/y), (2) weekly initial unemployment claims (expected +8,000 to 268,000, previous -12,000 to 260,000) and continuing claims (expected -17,000 to 2.190 million, previous +34,000 to 2.207 million), (3) final-Nov Markit services PMI (expected unch at 56.5, prelim-Nov +1.7 to 56.5) (4) Fed Chair Janet Yellen addresses the congressional Joint Economic Committee to discuss the economic outlook, (5) Oct factory orders (expected +1.4% and +0.2% ex transportation, Sep -1.0% and -0.6% ex transportation), (6) Nov non-manufacturing ISM (expected -1.1 to 58.0, Oct +2.2 to 59.1), and (7) Fed Vice Chair Stanley Fischer's keynote speech at a conference hosted by the Cleveland Fed and the Treasury’s Office of Financial Research.
There are 8 of the Russell 1000 companies report earnings today: Medtronic (consensus $1.00), Sears Holdings (-2.84), Dollar General (0.87), Michaels Cos (0.36), Toro (0.39), Cooper Cos (2.11), Ulta Salon (1.05), Kroger (0.39).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: Credit Suisse Global Industrials Conference on Tue-Thu, Credit Suisse Technology, Media & Telecom Conference on Tue-Thu, NASDAQ OMX Group, Inc. Investor Program on Wed-Thu, ASEAN Business Summit on Wed-Thu, Bank of America Merrill Lynch Leveraged Finance Conference on Thu.








OVERNIGHT U.S. STOCK MOVERS
Mallinckrodt PLC (MNK +1.23%) rose over 1% in pre-market trading after the stock was upgraded to 'Overweight' from 'Equalweight' at Morgan Stanley.
Disney (DIS -1.20%) boosted its semi-annual dividend to 71 cents a share from 66 cents.
Avago (AVGO -0.51%) climbed over 8% in pre-market trading after it reported Q4 adjusted EPS of $2.51, higher than consensus of $2.38.
Boyd Gaming (BYD +1.88%) gained over 1% in after-hours trading after Goldman Sachs upgraded the stock to 'Neutral' from 'Sell.'
Dollar General (DG -0.56%) reported Q3 EPS of 88 cents, better than consensus of 87 cents.
Dyax (DYAX -0.83%) jumped over 10% in after-hours trading after it said its deal to acquire Shire Pharmaceuticals International cleared an anti-trust review by the U.S. Federal Trade Commission.
Tilly's (TLYS +0.99%) dropped over 7% in after-hours trading after it reported Q3 adjusted EPS of 16 cents, above consensus of 14 cents, but then lowered guidance on Q4 EPS to 10 cents-12 cents, well below consensus of 21 cents.
PVH Corp. (PVH +1.26%) rallied over 3% in after-hours trading after it reported Q3 adjusted EPS of $2.66, better than consensus of $2.47.
Aeropostale (ARO +5.36%) slid nearly 3% in after-hours trading after it reported a Q3 adjusted EPS loss of -31 cents, a smaller loss than expectations of-34 cents, but then lowered guidance on Q4 EPS to a loss of -4 cents to -17 cents, below consensus of a 2 cent profit.
Verint Systems (VRNT -0.96%) tumbled 5% in after-hours trading after it reported Q3 adjusted EPS of 78 cents, below consensus of 79 cents, and then lowered guidance on fiscal 2016 adjusted EPS to $3.30 from a September estimate of $3.45, below consensus of $3.46.
Synopsys (SNPS -0.91%) reported Q4 adjusted EPS of 67 cents, above consensus of 66 cents, but then lowered guidance on Q1 adjusted EPS to 60 cents-63 cents, below consensus of 72 cents.
American Eagle (AEO +0.25%) rose over 2% in after-hours trading after it reported Q3 adjusted EPS of 35 cents, better than consensus of 34 cents, and said it sees Q4 EPS of 40 cents-42 cents, in line with consensus of 41 cents.
Photronics (PLAB +0.81%) rallied over 5% in after-hours trading after it reported Q4 adjusted EPS of 25 cents, higher than consensus of 19 cents.
Box (BOX +3.28%) fell over 1% in after-hours trading after it reported Q3 adjusted loss of -31 cents, right on consensus, although Q3 revenue of $78.7 million was above consensus of $76.8 million.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.49%) this morning are up +11.75 points (+0.56%). Wednesday's closes: S&P 500 -1.10%, Dow Jones -0.89%, Nasdaq-0.63%. The S&P 500 on Wednesday posted a 4-week high but fell back and posted a 1-week low as energy stocks fell after the price of crude oil dropped to a 2-week low, and after hawkish comments from Fed Chair Yellen and Atlanta Fed President Lockhart that solidified expectations for a Fed interest rate increase later this month.
Mar 10-year T-notes (ZNH16 -0.07%) this morning are down -5.5 ticks. Wednesday's closes: TYH6 -7.50, FVH6 -6.75. Mar T-notes closed lower after the Nov ADP employment change rose +217,000, stronger than expectations of +190,000 and the biggest increase in 5 months and after comments from Fed Chair Yellen and Atlanta Fed President Lockhart reinforced expectations for the Fed to begin raising interest rates later this month.
The dollar index (DXY00 +0.42%) this morning is up +0.397 (+0.40%). EUR/USD (^EURUSD) is down -0.0069 (-0.65%) at a fresh 7-1/2 month low. USD/JPY (^USDJPY) is up +0.24 (+0.19%). Wednesday's closes: Dollar Index +0.198 (+0.20%), EUR/USD -0.0018 (-0.17%), USD/JPY +0.37 (+0.30%). The dollar index Wednesday surged to a 12-1/2 year high after Fed Chair Yellen said the U.S. economy is ready for an interest rate increase later this month, and on weakness in EUR/USD which sank to a 7-1/2 month on expectations for the ECB to expand QE Thursday after Eurozone Nov CPI rose less than expected.
Jan crude oil (CLF16 +1.38%) this morning is up +69 cents (+1.73%) and Jan gasoline (RBF16 +0.20%) is up +0.0084 (+0.65%). Wednesday’s closes: CLF6 -1.75 (-4.18%), RBF6 -0.0619 (-4.54%). Jan crude oil and gasoline on Wednesday closed sharply lower with Jan crude at a 2-week low and Jan gasoline at a 1-week low after the dollar index rallied to a 12-1/2 year high and after EIA crude inventories unexpected rose +1.18 million bbl to a 7-month high, more than expectations for a -800,000 bbl draw. Other bearish factors were the +0.4% increase in U.S. crude production to a 3-month high of 9.202 million bpd and the +428,000 bbl increase in crude stockpiles at Cushing, OK, delivery point of WTI futures, to a 6-month high.
GLOBAL EVENT CALENDAR12/03/2015
US0730 ETNov Challenger job cuts, Oct -1.3% y/y.
0830 ETWeekly initial unemployment claims expected +8,000 to 268,000, previous -12,000 to 260,000. Weekly continuing claims expected-17,000 to 2.190 million, previous +34,000 to 2.207 million.
0830 ETUSDA weekly Export Sales.
0945 ETFinal-Nov Markit services PMI expected unch at 56.5, prelim-Nov +1.7 to 56.5. Final-Nov Markit composite PMI, prelim Nov +1.1 to 56.1.
1000 ETFed Chair Janet Yellen addresses the congressional Joint Economic Committee to discuss the economic outlook.
1000 ETOct factory orders expected +1.4% and +0.2% ex transportation, Sep -1.0% and -0.6% ex transportation. Revised Oct durable goods orders, prelim-Oct +3.0% m/m and +0.5% ex-transportation.
1000 ETNov non-manufacturing ISM expected -1.1 to 58.0, Oct +2.2 to 59.1.
1100 ETTreasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $24 billion) and 30-year T-bonds (previous $16 billion) to be auctioned Dec 8-10.
1310 ETFed Vice Chair Stanley Fischer delivers keynote speech at a conference hosted by the Cleveland Fed and the Treasurys Office of Financial Research.
GER0355 ETRevised German Nov Markit services PMI, preliminary +1.1 to 55.6.
EUR0400 ETRevised Eurozone Nov Markit composite PMI, preliminary +0.5 to 54.4.
0500 ETEurozone Oct retail sales expected +0.2% m/m and +2.6% y/y, Sep -0.1% m/m and +2.9% y/y.
0745 ETECB announces interest rate decision, expected 10 bp cut in the ECB deposit facility rate to -0.3% from -0.2%.
0830 ETECB President Mario Draghi holds press conference following ECB meeting.
UK0430 ETUK Nov Markit/CIPS services PMI expected +0.1 to 55.0, Oct 54.9.
JPN2030 ETJapan Oct labor cash earnings expected +0.5%y/y, Sep +0.4% y/y. Oct real cash earnings, Sep +0.5% y/y.
U.S. STOCK CALENDAR12/03/2015

CompanyTickerTimeEvent DescriptionPeriodEstimate
Sears Holdings CorpSHLD USBef-mktQ3 2016 Earnings ReleaseQ3 2016-2.84
Dollar General CorpDG USBef-mktQ3 2016 Earnings ReleaseQ3 20160.872
Michaels Cos Inc/TheMIK USBef-mktQ3 2016 Earnings ReleaseQ3 20160.362
Sears Holdings CorpSHLD US6:10Q3 2016 Earnings CallQ3 2016
Medtronic PLCMDT US6:45Q2 2016 Earnings ReleaseQ2 20161
L Brands IncLB US7:30November 2015 Sales and Revenue Call2015
Medtronic PLCMDT US8:00Q2 2016 Earnings CallQ2 2016
Anthem IncANTM US8:00Extraordinary Shareholders Meeting - M&A VoteY 2015
General Electric CoGE US8:30Investor MeetingY 2015
Toro Co/TheTTC US8:30Q4 2015 Earnings ReleaseQ4 20150.387
Aflac IncAFL US9:00Q4 2016 Guidance CallQ4 2016
Cigna CorpCI US9:00Extraordinary Shareholders Meeting - M&A VoteY 2015
PVH CorpPVH US9:00Q3 2016 Earnings CallQ3 2016
Xcel Energy IncXEL US9:00Investor MeetingY 2015
CBRE Group IncCBG US9:00Analyst MeetingY 2015
Marathon Petroleum CorpMPC US9:00Analyst & Investor DayY 2015
Michaels Cos Inc/TheMIK US9:00Q3 2016 Earnings CallQ3 2016
Skechers U.S.A. IncSKX US9:30Investor and Analyst MeetingY 2015
Kroger Co/TheKR US10:00Q3 2016 Earnings CallQ3 2016
Principal Financial Group IncPFG US10:00Q4 2016 Guidance CallQ4 2016
Dollar General CorpDG US10:00Q3 2016 Earnings CallQ3 2016
Toro Co/TheTTC US11:00Q4 2015 Earnings CallQ4 2015
Alaska Air Group IncALK US12:00Investor DayY 2015
TECO Energy IncTE US14:00Extraordinary Shareholders MeetingY 2015
Cooper Cos Inc/TheCOO US17:00Q4 2015 Earnings CallQ4 2015
Ulta Salon Cosmetics & Fragrance IncULTA US17:00Q3 2016 Earnings CallQ3 2016
Cooper Cos Inc/TheCOO USAft-mktQ4 2015 Earnings ReleaseQ4 20152.107
Ulta Salon Cosmetics & Fragrance IncULTA USAft-mktQ3 2016 Earnings ReleaseQ3 20161.051
Gap Inc/TheGPS USNovember 2015 Sales and Revenue Release2015
Kroger Co/TheKR USQ3 2016 Earnings ReleaseQ3 20160.392
L Brands IncLB USNovember 2015 Sales and Revenue Release2015
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , , , , ,

Wednesday, July 29, 2015

BARCHART MORNING CALL 7/29

OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU15 +0.20%) this morning are slightly higher by +0.23% and the EuroStoxx 50 index is up +0.21% on relief that the Chinese stock market today closed +3.44% higher after the losses of -8.5% on Monday and -1.7% on Tuesday. The Chinese stock market has been able to stabilize somewhat after the Chinese Securities Regulatory Commission late Monday released a statement saying that the agency will continue to "stabilize" the market and "prevent systemic risk."
The markets are awaiting the outcome later today of the 2-day FOMC meeting, which could produce more hawkish Fed guidance on when to expect the first rate hike. The market is discounting about a 50% chance for the rate hike as soon as the FOMC's next meeting in September.
European stocks today received a boost from positive earnings news and additional M&A announcements. HeidelbergCement AG announced a plan to buy Italcementi SpA for 3.7 billion euros and Solvay SA agreed to buy Cytec Industries Inc for $5.5 billion. Bearish factors this morning include (1) Twitter's 11% sell-off in overnight trading after saying its user growth won't improve until the company can reach a mass market, and (2) Yelp's -18% plunge on its lower revenue guidance.
Asian stocks today closed mostly mixed with support from the higher close in China: Japan -0.13%, Hong Kong +0.47%, China +3.44%, Taiwan -0.22%, Australia +0.71%, Singapore +0.09%, South Korea +0.31%, India +0.38%, Turkey -0.02%.
The dollar index (DXY00 +0.02%) this morning is slightly lower by -0.108 (-0.11%), while EUR/USD (^EURUSD) is down -0.0004 (-0.04%) and USD/JPY (^USDJPY) is up +0.07 (+0.06%). Sep 10-year T-note prices (ZNU15 -0.15%) this morning are down -6.5 ticks on (1) reduced safe-haven demand with the upward rebound in global stocks, and (2) concern that the FOMC today may adopt more hawkish interest rate guidance.
Commodity prices are little changed on net this morning. Sep crude oil (CLU15 -0.63%) this morning is down -0.25 (-0.52%) and Sep gasoline (RBU15 -0.22%) is down -0.0085 (-0.49%) on expectations for today's weekly EIA report to show a +850,000 bbl increase in U.S. crude oil inventories.
Precious metals are lower this morning on reduced safe-haven demand with Aug gold (GCQ15 -0.06%) down -1.1 (-0.10%) and Sep silver (SIU15 -0.22%) down -0.042 (-0.29%). Sep Copper (HGU15 +0.25%) is slightly higher by +0.001 (+0.04%) on relief about today's upward rebound in Chinese stocks. Grain and cotton prices are lower this morning while sugar, coffee and cocoa are higher.
The ECB today reportedly left its Greek Emergency Lending Assistance (ELA) facility unchanged at 90.4 billion euros. The ECB last raised the facility by 900 million euros on July 22. The EU Commission spokeswoman said today that the EU Commission is "satisfied with the smooth and constructive cooperation with the Greek authorities" that has been seen since negotiations began earlier this week on the 3-year bailout program. The Greek stock market has not yet reopened but is getting closer to reopening after the ECB on Tuesday approved new trading rules.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (last week +0.1% with purchase sub-index +1.0% and refi sub-index -0.5%), (2) June pending home sales (expected +1.0% m/m and +11.1% y/y after May's +0.9% m/m and +8.3% y/y), (3) the Treasury's auction of $15 billion of 2-year floating-rate notes and $35 billion of 5-year T-notes, and (4) the FOMC's announcement of its interest rate decision after its 2-day meeting.
There are 49 of the S&P 500 companies that report earnings today with notable reports including: Facebook (consensus $0.47), MasterCard (0.85), Baxter (0.95), Humana (1.63), Marriott (0.81), Murphy Oil (-0.55), Williams Companies (0.27), Goodyear (0.75), International Paper (0.92), PG&E (0.72), Level 3 Communications (0.39), Garmin (0.71), Public Storage (2.14).
U.S. IPO's scheduled to price today include: Poseidon Containers Holdings (PCON), Easterly Acquisition Corp (EACQU).
Equity conferences this week: none.

Sep E-mini S&Ps this morning are slightly higher by +0.23% on relief that the Chinese stock market today closed +3.44% higher. Tuesday's closes: S&P 500 +1.24%%, Dow Jones +1.09%, Nasdaq +0.98%. The S&P 500 on Tuesday rebounded higher after the sharp 5-session loss and closed with fairly sharp gains. Stocks rallied on (1) some stabilization in Chinese stocks as the Shanghai Composite index recovered from an early loss of -5.1% to close only -1.68% lower, and (2) short-covering after the sharp week-long sell-off. Stocks rallied despite negative factors that included (1) the sharp -10.5 point decline in the U.S. consumer confidence index to 90.9, (2) the unexpected -0.18% decline in the May CaseShiller Composite-20 home price index, and (3) some concern that the FOMC at the conclusion of its meeting on Wednesday might adopt a more hawkish warning of a near-term rate hike.
OVERNIGHT U.S. STOCK MOVERS
  • Twitter (TWTR +5.30%) is down -11% in overnight trading after saying its user growth won't improve until the company can reach a mass market
  • Yelp (YELP -0.65%) is down -18% overnight on its lower revenue guidance.
  • Positive earnings reports this morning include: Anthem (ANTM +1.78%) ($3.13 vs $2.70), International Paper (IP +2.89%) (0.97 vs 0.92), Northrop Grumman (NOC +0.48%) ((2.54 vs 2.33), Altria (MO +2.41%) (0.74 vs 0.71), WEC Energy Group (WEC +0.80%) (0.59 vs 0.56), Garmin (GRMN +1.61%) (0.72 vs 0.71), Hess (HES +3.42%) (-0.59 vs -0.71), General Dynamics (GD +1.32%) (2.27 vs 2.06), Humana (HUM +0.33%) (1.67 vs 1.63).
  • Negative earnings reports this morning include: Praxair (PX +3.18%) (1.45 vs 1.455), CBRE Group (CBG +1.02%) (0.42 vs 0.43), Henry Schein (HSIC +2.03%) (1.46 vs 1.462), American Tower (AMT +0.21%) (0.99 vs 1.14), Southern Company (SO +0.23%) (0.69 vs 0.70), Hospiri (HSP -0.13%) (0.81 vs 0.835).
  • On positive earnings news late yesterday, Buffalo Wild Wings (BWLD +1.61%) rallied 10%, Panera Bread (PNRA +1.62%) rallied 8%, Express Scripts (ESRX +1.41%) rallied +1.6%, and Sunpower (SPWR +2.19%) rallied by 1.5%.
  • On negative earnings news late yesterday, Yelp (YELP -0.65%) fell 16%, Akamai (AKAM +2.82%) fell 10%, and BlackBox (BBOX -2.11%) fell 4%.
MARKET COMMENTS
Sep 10-year T-note prices this morning are down -6.5 ticks on (1) reduced safe-haven demand with the upward rebound in global stocks, and (2) concern that the FOMC today may adopt more hawkish interest rate guidance. TYU5 -5, FVU5 -2.25. Sep 10-year T-notes on Tuesday closed mildly lower on reduced safe-haven demand as Chinese stocks stabilized and the U.S. stock market rallied. However, T-notes found underlying support from the weak U.S. consumer confidence and CaseShiller home price reports.
The dollar index this morning is slightly lower by -0.108 (-0.11%), while EUR/USD is down -0.0004 (-0.04%) and USD/JPY is up +0.07 (+0.06%). Dollar Index +0.27 (+0.28%), EUR/USD -0.0028 (-0.25%), USD/JPY +0.31 (+0.25%). The dollar index on Tuesday closed mildly higher on some short-covering after the fairly sharp losses seen over the past week, the stabilization of the Chinese stock market and higher U.S. stocks, and the possibility that the FOMC at its post-meeting on Wednesday may move to more hawkish interest rate guidance. The main bearish factor for the dollar was the weak U.S. economic data that included the U.S. consumer confidence index and CaseShiller home price index.
Sep crude oil this morning is down -0.25 (-0.52%) and Sep gasoline is down -0.0085 (-0.49%) on expectations for today's weekly EIA report to show a +850,000 bbl increase in U.S. crude oil inventories. CLU5 +0.59 (+1.24%), RBU5 -0.0182 (-1.03%). Sep crude oil and gasoline on Tuesday closed mixed. Crude oil closed mildly higher on some short-covering and the stabilization of global stocks. However, sentiment remains bearish as the market expects Wednesday’s EIA report to show a +850,000 bbl increase in crude oil inventories and the market expects the global oil glut to worsen later this year when Iranian sanctions are dropped.
GLOBAL EVENT CALENDAR07/29/2015
US0700 ETWeekly MBA mortgage applications, previous +0.1% with purchase sub-index +1.0% and refi sub-index -0.5%.
1000 ETJun pending home sales expected +1.0% m/m and +11.1% y/y, May +0.9% m/m and +8.3% y/y.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $15 billion of 2-year floating-rate notes.
1300 ETTreasury auctions $35 billion of 5-year T-notes.
1400 ETFOMC announces interest rate decision.
GER0200 ETGerman Aug GfK consumer confidence expected unch at 10.1.
UK0430 ETUK Jun net consumer credit expected +1.1 billion pounds, May +1.0 billion pounds.
0430 ETUK Jun mortgage approvals expected 66,000, May 64,400.
0430 ETUK Jun M4 money supply, May +0.5% m/m and +0.7% y/y.
0600 ETUK Jul CBI reported sales expected unch at 29.
JPN1950 ETJapan Jun industrial production expected +0.3% m/m and +1.3% y/y, May -2.1% m/m and -3.9% y/y.
U.S. STOCK CALENDAR07/29/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ2 2015 Earnings ReleaseQ2 2015-0.715
Baxter International IncBAX USBef-mktQ2 2015 Earnings ReleaseQ2 20150.949
General Dynamics CorpGD USBef-mktQ2 2015 Earnings ReleaseQ2 20152.056
Goodyear Tire & Rubber Co/TheGT USBef-mktQ2 2015 Earnings ReleaseQ2 20150.748
International Paper CoIP USBef-mktQ2 2015 Earnings ReleaseQ2 20150.921
Northrop Grumman CorpNOC USBef-mktQ2 2015 Earnings ReleaseQ2 20152.345
PG&E CorpPCG USBef-mktQ2 2015 Earnings ReleaseQ2 20150.724
Exelon CorpEXC USBef-mktQ2 2015 Earnings ReleaseQ2 20150.52
Praxair IncPX USBef-mktQ2 2015 Earnings ReleaseQ2 20151.455
Level 3 Communications IncLVLT USBef-mktQ2 2015 Earnings ReleaseQ2 20150.388
Henry Schein IncHSIC USBef-mktQ2 2015 Earnings ReleaseQ2 20151.462
Rockwell Automation IncROK USBef-mktQ3 2015 Earnings ReleaseQ3 20151.542
Hudson City Bancorp IncHCBK USBef-mktQ2 2015 Earnings ReleaseQ2 20150.005
Garmin LtdGRMN USBef-mktQ2 2015 Earnings ReleaseQ2 20150.714
MasterCard IncMA USBef-mktQ2 2015 Earnings ReleaseQ2 20150.853
Hospira IncHSP USBef-mktQ2 2015 Earnings ReleaseQ2 20150.835
ADT Corp/TheADT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.491
Humana IncHUM US6:00Q2 2015 Earnings ReleaseQ2 20151.631
Anthem IncANTM US6:00Q2 2015 Earnings ReleaseQ2 20152.754
CBRE Group IncCBG US6:30Q2 2015 Earnings ReleaseQ2 20150.428
Altria Group IncMO US7:00Q2 2015 Earnings ReleaseQ2 20150.714
WEC Energy Group IncWEC US7:00Q2 2015 Earnings ReleaseQ2 20150.555
American Tower CorpAMT US7:00Q2 2015 Earnings ReleaseQ2 20151.143
Southern Co/TheSO US7:30Q2 2015 Earnings ReleaseQ2 20150.69
Anthem IncANTM US8:00Q2 2015 Earnings CallQ2 2015
CBRE Group IncCBG US8:00Q2 2015 Earnings CallQ2 2015
Assurant IncAIZ US8:00Q2 2015 Earnings CallQ2 2015
Avery Dennison CorpAVY US8:30Q2 2015 Earnings ReleaseQ2 20150.879
Franklin Resources IncBEN US8:30Q3 2015 Earnings ReleaseQ3 20150.876
Franklin Resources IncBEN US8:30Q3 2015 Earnings Call - Pre RecordedC3 2015
Express Scripts Holding CoESRX US8:30Q2 2015 Earnings CallQ2 2015
Rockwell Automation IncROK US8:30Q3 2015 Earnings CallQ3 2015
American Tower CorpAMT US8:30Q2 2015 Earnings CallQ2 2015
CH Robinson Worldwide IncCHRW US8:30Q2 2015 Earnings CallQ2 2015
ADT Corp/TheADT US8:30Q3 2015 Earnings CallQ3 2015
Aflac IncAFL US9:00Q2 2015 Earnings CallQ2 2015
Anadarko Petroleum CorpAPC US9:00Q2 2015 Earnings CallQ2 2015
AGL Resources IncGAS US9:00Q2 2015 Earnings CallQ2 2015
General Dynamics CorpGD US9:00Q2 2015 Earnings CallQ2 2015
Goodyear Tire & Rubber Co/TheGT US9:00Q2 2015 Earnings CallQ2 2015
Humana IncHUM US9:00Q2 2015 Earnings CallQ2 2015
International Paper CoIP US9:00Q2 2015 Earnings CallQ2 2015
Altria Group IncMO US9:00Q2 2015 Earnings CallQ2 2015
Range Resources CorpRRC US9:00Q2 2015 Earnings CallQ2 2015
MasterCard IncMA US9:00Q2 2015 Earnings CallQ2 2015
Hess CorpHES US10:00Q2 2015 Earnings CallQ2 2015
Avery Dennison CorpAVY US10:00Q2 2015 Earnings CallQ2 2015
Eaton Corp PLCETN US10:00Q2 2015 Earnings CallQ2 2015
Kimco Realty CorpKIM US10:00Q2 2015 Earnings CallQ2 2015
PG&E CorpPCG US10:00Q2 2015 Earnings CallQ2 2015
Exelon CorpEXC US10:00Q2 2015 Earnings CallQ2 2015
Level 3 Communications IncLVLT US10:00Q2 2015 Earnings CallQ2 2015
Henry Schein IncHSIC US10:00Q2 2015 Earnings CallQ2 2015
Garmin LtdGRMN US10:30Q2 2015 Earnings CallQ2 2015
Praxair IncPX US11:00Q2 2015 Earnings CallQ2 2015
Cincinnati Financial CorpCINF US11:00Q2 2015 Earnings CallQ2 2015
Equity ResidentialEQR US11:00Q2 2015 Earnings CallQ2 2015
McKesson CorpMCK US11:30Annual General MeetingY 2015
Franklin Resources IncBEN US12:00Q3 2015 Earnings CallQ3 2015
Northrop Grumman CorpNOC US12:00Q2 2015 Earnings CallQ2 2015
Southern Co/TheSO US13:00Q2 2015 Earnings CallQ2 2015
WEC Energy Group IncWEC US14:30Q2 2015 Earnings CallQ2 2015
Unum GroupUNM US16:00Q2 2015 Earnings ReleaseQ2 20150.901
Realty Income CorpO US16:00Q2 2015 Earnings ReleaseQ2 20150.675
McKesson CorpMCK US16:00Q1 2016 Earnings ReleaseQ1 20162.904
Qorvo IncQRVO US16:00Q1 2016 Earnings ReleaseQ1 20161.057
O'Reilly Automotive IncORLY US16:30Q2 2015 Earnings ReleaseQ2 20152.261
Wynn Resorts LtdWYNN US16:30Q2 2015 Earnings CallQ2 2015
Baxter International IncBAX US17:00Q2 2015 Earnings CallQ2 2015
Varian Medical Systems IncVAR US17:00Q3 2015 Earnings CallQ3 2015
Western Digital CorpWDC US17:00Q4 2015 Earnings CallQ4 2015
Fiserv IncFISV US17:00Q2 2015 Earnings CallQ2 2015
Lam Research CorpLRCX US17:00Q4 2015 Earnings CallQ4 2015
Vertex Pharmaceuticals IncVRTX US17:00Q2 2015 Earnings CallQ2 2015
Whole Foods Market IncWFM US17:00Q3 2015 Earnings CallQ3 2015
McKesson CorpMCK US17:00Q1 2016 Earnings CallQ1 2016
Marriott International Inc/MDMAR US17:00Q2 2015 Earnings ReleaseQ2 20150.813
Facebook IncFB US17:00Q2 2015 Earnings CallQ2 2015
Qorvo IncQRVO US17:00Q1 2016 Earnings CallQ1 2016
Lincoln National CorpLNC USAft-mktQ2 2015 Earnings ReleaseQ2 20151.529
Murphy Oil CorpMUR USAft-mktQ2 2015 Earnings ReleaseQ2 2015-0.549
Owens-Illinois IncOI USAft-mktQ2 2015 Earnings ReleaseQ2 20150.586
Public StoragePSA USAft-mktQ2 2015 Earnings ReleaseQ2 20152.143
Varian Medical Systems IncVAR USAft-mktQ3 2015 Earnings ReleaseQ3 20151.117
Western Digital CorpWDC USAft-mktQ4 2015 Earnings ReleaseQ4 20151.466
Williams Cos Inc/TheWMB USAft-mktQ2 2015 Earnings ReleaseQ2 20150.274
Fiserv IncFISV USAft-mktQ2 2015 Earnings ReleaseQ2 20150.936
Lam Research CorpLRCX USAft-mktQ4 2015 Earnings ReleaseQ4 20151.474
Vertex Pharmaceuticals IncVRTX USAft-mktQ2 2015 Earnings ReleaseQ2 2015-0.802
Whole Foods Market IncWFM USAft-mktQ3 2015 Earnings ReleaseQ3 20150.447
Boston Properties IncBXP USAft-mktQ2 2015 Earnings ReleaseQ2 20151.337
MetLife IncMET USAft-mktQ2 2015 Earnings ReleaseQ2 20151.487
Wynn Resorts LtdWYNN USAft-mktQ2 2015 Earnings ReleaseQ2 20150.97
Equinix IncEQIX USAft-mktQ2 2015 Earnings ReleaseQ2 20152.987
Facebook IncFB USAft-mktQ2 2015 Earnings ReleaseQ2 20150.471
Equinix IncEQIX US17:30Q2 2015 Earnings CallQ2 2015
Equifax IncEFX USInvestors Meeting - DallasY 2015
Microsoft CorpMSFT USMicrosoft Windows 10 - Latest Version Product Release
Martin Marietta Materials IncMLM USQ2 2015 Earnings ReleaseQ2 20151.584
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , , , , ,
Subscribe to: Posts (Atom)