Showing posts with label BHI. Show all posts
Showing posts with label BHI. Show all posts

Thursday, January 28, 2016

MORNING CALL 1/28

http://www.barchart.com/newsletters/usmorningcall

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +0.24%) are up +0.08% as a 12% jump in Facebook in pre-market trading leads technology stocks higher. Also, crude oil (CLH16 +0.03%) is up +0.40% at a 2-week high and is leading energy producers higher. European stocks fell back from a 2-week high and are down-1.85 % as a 4% decline in Roche leads European drug companies lower and a 3% drop in Deutsche Bank AG leads European bank stocks lower. Also, a bigger-than-expected decline in Eurozone Jan economic confidence to a 5-month low undercut equity prices. The weakness in European stocks gave Eurozone government debt prices a boost as the 10-year German bund yield tumbled to an 8-1/2 month low of 0.414%. Asian stocks settled mixed: Japan -0.71%, Hong Kong +0.75%, China -2.92%, Taiwan +0.70%, Australia +0.60%, Singapore +0.64%, South Korea +0.24%, India -0.09%. Asian shipbuilders declined and lead Chinese and Japanese equity markets lower after the Baltic Dry Index, a measure of commodity shipping costs, dropped to a 30-year low.
The dollar index (DXY00 unch) is down -0.06%. EUR/USD (^EURUSD) is up +0.20% at a 1-week high. USD/JPY (^USDJPY) is up +0.09%.
Mar T-note prices (ZNH16 unch) are little changed, down -0.5 of a tick.
Eurozone Jan economic confidence fell -1.7 to 105.0, weaker than expectations of -0.4 to 106.4 and a 5-month low.
UK Q4 GDP rose +0.5% q/q and +1.9% y/y, right on expectations.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected -12,000 to 281,000, previous +10,000 to 293,000) and continuing claims (expected +10,000 to 2.218 million, previous 56,000 to 2.208 million), (2) Dec durable goods orders (expected -0.7% and -0.1% ex-transportation, Nov unch and unch ex-transportation), (3) Dec pending home sales (expected +0.9% m/m and +4.8% y/y, Nov -0.9% m/m and +5.1% y/y), (4) Jan Kansas City Fed manufacturing activity (expected -1 to -10, Dec -10 to -9), and (5) the Treasury's auction of $29 billion 7-year T-notes.
There are 52 of the S&P 500 companies that report earnings today with notable reports including: Amazon (consensus $1.55), Microsoft (0.71), Visa (0.68), Caterpillar (0.69), Nasdaq (0.88), Ford (0.51), Time Warner Cable (1.77), PulteGroup (0.49), Abbott Labs (0.61).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week: none.






OVERNIGHT U.S. STOCK MOVERS
Facebook (FB -2.97%) is up over 12% in pre-market trading after it reported Q4 adjusted EPS of 79 cents, above consensus of 68 cents.
Hallibuton (HAL +0.41%) was upgraded to 'Buy' from 'Accumulate' at KLR Group with a price target of $44.
Ford Motor (F -3.34%) reported Q4 adjusted EPS of 58 cents, better than consensus of 51 cents.
EBay (EBAY -0.86%) sank over 10% in after-hours trading after it lowered guidance on fiscal 2016 adjusted EPS to $1.82-$1.87, below consensus of $1.98, and said it sees Q1 adjusted EPS of 43 cents-45 cents, weaker than consensus of 48 cents.
Paypal (PYPL -1.19%) rose 5% in after-hours trading after it reported Q4 adjusted EPS of 36 cents, higher than consensus of 34 cents.
Juniper Networks (JNPR -0.41%) slumped over 9% in after-hours trading after it lowered guidance on Q1 adjusted EPS to 42 cents-46 cents, below consensus of 47 cents.
Discover Financial Services (DFS +0.68%) tumbled over 7% in after-hours trading after it reported Q4 EPS of $1.14, below consensus of $1.30.
SanDisk (SNDK +0.19%) gained over 1% in after-hours trading after it reported Q4 adjusted EPS of $1.26, higher than consensus of 90 cents.
Texas Instruments (TXN -0.06%) rose over 2% in after-hours trading after it reported Q4 GAAP EPS ex-benefits of 71 cents, above consensus of 69 cents.
United Rentals (URI -1.85%) sank over 10% in after-hours trading after it reported Q4 adjusted EPS of $2.19, below consensus of $2.33.
ServiceNow (NOW -3.32%) slumped over 12% in after-hours trading after it reported Q4 billings of $365.7 million, below forecasts of $370 million-$375 million, and said it sees 2016 revenue of $1.34 billion-$1.37 billion, below consensus of $1.37 billion.
Teradyne (TER +0.61%) jumped 10% in after-hours trading after it reported Q4 adjusted EPS of 13 cents, higher than consensus of 10 cents, and then raised guidance on Q1 EPS to 23 cents-29 cents, above consensus of 18 cents.
Mellanox Technologies (MLNX +0.46%) climbed over 6% in after-hours trading after it reported Q4 EPS of 90 cents, well above consensus of 70 cents.
InvenSense (INVN -5.78%) dropped 6% in after-hours trading after it lowered guidance on Q4 EPS to $0.00 to up 2 cents, below consensus of 12 cents.

MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +0.24%) this morning are up +1.50 points (+0.08%). Wednesday's closes: S&P 500 -1.09%, Dow Jones -1.38%, Nasdaq-2.48%. The S&P 500 on Wednesday closed lower on negative carryover from the -0.52% drop in China's Shanghai Composite to a 13-3/4 month low, weakness in technology stocks after Apple fell by more than 6% on smaller-than-expected Q2 revenue indications, and some disappointment that the FOMC's post-meeting statement was not more dovish.
Mar 10-year T-notes (ZNH16 unch) this morning are down -0.5 of a tick. Wednesday's closes: TYH6 +8.50, FVH6 +4.75. Mar T-notes on Wednesday closed higher on the slide in stocks that boosted the safe-haven demand for T-notes, and the post-FOMC meeting statement said that the Fed was watching global developments closely and that it expects to raise interest rates at a "gradual" pace. Gains were limited after U.S. Dec new home sales rose at the fastest pace in 10 months.
The dollar index (DXY00 unch) this morning is down -0.059 (-0.06%). EUR/USD (^EURUSD) is up +0.0022 (+0.20%) at a 1-week high. USD/JPY (^USDJPY) is up +0.11 (+0.09%). Wednesday's closes: Dollar Index -0.458 (-0.46%), EUR/USD +0.0023 (+0.21%), USD/JPY +0.26 (+0.22%). The dollar index on Wednesday closed lower as the post-FOMC meeting statement adopted more dovish language and as the rally in crude oil boosted the Canadian dollar to a 3-week high against the dollar.
Mar crude oil (CLH16 +0.03%) this morning is up +13 cents (+0.40%) and Mar gasoline (RBH16 +2.16%) is up +0.0200 (+1.87%). Wednesday's closes: CLH6 +0.71 (+2.26%), RBH6 -0.0008 (+0.07%). Mar crude oil and gasoline on Wednesday closed higher as Mar gasoline recovered from a contract low. Crude oil prices were boosted by the weaker dollar and by the -771,000 bbl decline in crude oil supplies at Cushing, OK, the delivery point for WTI futures, the first decline in twelve weeks. Crude oil prices were undercut by the +8.38 million bbl surge in weekly EIA crude supplies and the +3.46 million bbl increase in weekly EIA gasoline stockpiles to 248.46 million bbl, more than expectations of +1.0 million bbl and a 15-3/4 year high.
GLOBAL EVENT CALENDAR01/28/2016
US0830 ETWeekly initial unemployment claims expected -12,000 to 281,000, previous +10,000 to 293,000. Weekly continuing claims expected +10,000 to 2.218 million, previous -56,000 to 2.208 million.
0830 ETDec durable goods orders expected -0.7% and -0.1% ex-transportation, Nov unch and unch ex-transportation. Dec capital goods orders non-defense ex aircraft & parts expected -0.2%, Nov -0.3%.
0830 ETUSDA weekly Export Sales.
1000 ETDec pending home sales expected +0.9% m/m and +4.8% y/y, Nov -0.9% m/m and +5.1% y/y.
1100 ETJan Kansas City Fed manufacturing activity expected -1 to -10, Dec -10 to -9.
1300 ETTreasury auctions $29 billion 7-year T-notes.
GER0200 ETGerman Dec import price index expected -1.1% m/m and -3.1% y/y, Nov -0.2% m/m and -3.5% y/y.
0800 ETGerman Jan CPI (EU harmonized) expected -1.0% m/m and +0.4% y/y, Dec unch m/m and +0.2% y/y.
UK0430 ETUK Q4 GDP expected +0.5% q/q and +1.9% y/y, Q3 +0.4% q/q and +2.1% y/y.
0430 ETUK Nov index of services expected +0.2% m/m and +0.6% 3-mo/3-mo, Oct +0.1% m/m and +0.5% 3-mo/3-mo.
0600 ETUK Jan CBI reported sales expected -1 to 18, Dec 19.
1901 ETUK Jan Lloyds business barometer, Dec 45.
1905 ETUK Jan GfK consumer confidence expected -1 to 1, Dec 2.
EUR0500 ETEurozone Jan economic confidence expected -0.4 to 106.4, Dec 106.8. Jan business climate indicator expected 0.1 to 0.40, Dec 0.41.
0500 ETRevised Eurozone Jan consumer confidence, preliminary -0.6 to -6.3.
JPN1830 ETJapan Dec overall household spending expected -2.5% y/y, Nov -2.9% y/y.
1830 ETJapan Dec jobless rate expected unch at 3.3%. Dec job-to-applicant ratio expected +0.01 to 1.26, Nov 1.25.
1830 ETJapan Dec national CPI expected +0.2% y/y, Nov +0.3% y/y. Dec national CPI ex-fresh food expected +0.1% y/y, Nov +0.1% y/y. Dec national CPI ex food & energy expected +0.9% y/y, Nov +0.9% y/y.
1830 ETJapan Jan Tokyo CPI expected unch y/y, Dec unch y/y. Jan Tokyo CPI ex-fresh food expected +0.1% y/y, Dec +0.1% y/y. Jan Tokyo CPI ex food & energy expected +0.6% y/y, Dec +0.6% y/y.
1850 ETJapan Dec industrial production expected -0.3% m/m and -0.6% y/y, Nov -1.0% m/m and +1.6% y/y.
2300 ETJapan Dec vehicle production, Nov +6.0% y/y.
U.S. STOCK CALENDAR01/28/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Abbott LaboratoriesABT USBef-mktQ4 2015 Earnings ReleaseQ4 20150.609
Airgas IncARG USBef-mktQ3 2016 Earnings ReleaseQ3 20161.172
American Electric Power Co IncAEP USBef-mktQ4 2015 Earnings ReleaseQ4 20150.496
Baker Hughes IncBHI USBef-mktQ4 2015 Earnings ReleaseQ4 2015-0.1
Ball CorpBLL USBef-mktQ4 2015 Earnings ReleaseQ4 20150.746
Bristol-Myers Squibb CoBMY USBef-mktQ4 2015 Earnings ReleaseQ4 20150.286
Harley-Davidson IncHOG USBef-mktQ4 2015 Earnings ReleaseQ4 20150.204
Helmerich & Payne IncHP USBef-mktQ1 2016 Earnings ReleaseQ1 2016-0.072
Hershey Co/TheHSY USBef-mktQ4 2015 Earnings ReleaseQ4 20151.049
Johnson Controls IncJCI USBef-mktQ1 2016 Earnings ReleaseQ1 20160.819
Eli Lilly & CoLLY USBef-mktQ4 2015 Earnings ReleaseQ4 20150.783
Northrop Grumman CorpNOC USBef-mktQ4 2015 Earnings ReleaseQ4 20152.008
Nucor CorpNUE USBef-mktQ4 2015 Earnings ReleaseQ4 20150.226
PulteGroup IncPHM USBef-mktQ4 2015 Earnings ReleaseQ4 20150.487
Raytheon CoRTN USBef-mktQ4 2015 Earnings ReleaseQ4 20151.824
Stanley Black & Decker IncSWK USBef-mktQ4 2015 Earnings ReleaseQ4 20151.762
Thermo Fisher Scientific IncTMO USBef-mktQ4 2015 Earnings ReleaseQ4 20152.108
McCormick & Co Inc/MDMKC USBef-mktQ4 2015 Earnings ReleaseQ4 20151.172
Celgene CorpCELG USBef-mktQ4 2015 Earnings ReleaseQ4 20151.18
AutoNation IncAN USBef-mktQ4 2015 Earnings ReleaseQ4 20151.035
T Rowe Price Group IncTROW USBef-mktQ4 2015 Earnings ReleaseQ4 20151.107
Quest Diagnostics IncDGX USBef-mktQ4 2015 Earnings ReleaseQ4 20151.186
Valero Energy CorpVLO USBef-mktQ4 2015 Earnings ReleaseQ4 20151.464
L-3 Communications Holdings IncLLL USBef-mktQ4 2015 Earnings ReleaseQ4 20151.987
Alliance Data Systems CorpADS USBef-mktQ4 2015 Earnings ReleaseQ4 20154.104
Time Warner Cable IncTWC USBef-mktQ4 2015 Earnings ReleaseQ4 20151.768
Xcel Energy IncXEL USBef-mktQ4 2015 Earnings ReleaseQ4 20150.402
Mead Johnson Nutrition CoMJN USBef-mktQ4 2015 Earnings ReleaseQ4 20150.726
HCA Holdings IncHCA USBef-mktQ4 2015 Earnings ReleaseQ4 20151.514
Ford Motor CoF US7:00Q4 2015 Earnings ReleaseQ4 20150.51
Altria Group IncMO US7:00Q4 2015 Earnings ReleaseQ4 20150.68
Sherwin-Williams Co/TheSHW US7:00Q4 2015 Earnings ReleaseQ4 20151.869
Invesco LtdIVZ US7:00Q4 2015 Earnings ReleaseQ4 20150.604
Nasdaq IncNDAQ US7:00Q4 2015 Earnings ReleaseQ4 20150.881
Under Armour IncUA US7:15Q4 2015 Earnings ReleaseQ4 20150.46
Caterpillar IncCAT US7:30Q4 2015 Earnings ReleaseQ4 20150.688
NextEra Energy IncNEE US7:30Q4 2015 Earnings ReleaseQ4 20151.076
McCormick & Co Inc/MDMKC US7:30Q4 2015 Earnings CallQ4 2015
Zimmer Biomet Holdings IncZBH US7:30Q4 2015 Earnings ReleaseQ4 20152.041
Harman International Industries IncHAR US8:00Q2 2016 Earnings ReleaseQ2 20161.727
Stanley Black & Decker IncSWK US8:00Q4 2015 Earnings CallQ4 2015
Crown Castle International CorpCCI US8:00Q4 2015 Earnings CallQ4 2015
Nasdaq IncNDAQ US8:00Q4 2015 Earnings CallQ4 2015
Zimmer Biomet Holdings IncZBH US8:00Q4 2015 Earnings CallQ4 2015
Hershey Co/TheHSY US8:30Q4 2015 Earnings CallQ4 2015
PulteGroup IncPHM US8:30Q4 2015 Earnings CallQ4 2015
Thermo Fisher Scientific IncTMO US8:30Q4 2015 Earnings CallQ4 2015
Quest Diagnostics IncDGX US8:30Q4 2015 Earnings CallQ4 2015
Alliance Data Systems CorpADS US8:30Q4 2015 Earnings CallQ4 2015
Time Warner Cable IncTWC US8:30Q4 2015 Earnings CallQ4 2015
Under Armour IncUA US8:30Q4 2015 Earnings CallQ4 2015
Abbott LaboratoriesABT US9:00Q4 2015 Earnings CallQ4 2015
American Electric Power Co IncAEP US9:00Q4 2015 Earnings CallQ4 2015
Ford Motor CoF US9:00Q4 2015 Earnings CallQ4 2015
NextEra Energy IncNEE US9:00Q4 2015 Earnings CallQ4 2015
Harley-Davidson IncHOG US9:00Q4 2015 Earnings CallQ4 2015
Eli Lilly & CoLLY US9:00Q4 2015 Earnings CallQ4 2015
Altria Group IncMO US9:00Q4 2015 Earnings CallQ4 2015
Raytheon CoRTN US9:00Q4 2015 Earnings CallQ4 2015
Celgene CorpCELG US9:00Q4 2015 Earnings CallQ4 2015
Invesco LtdIVZ US9:00Q4 2015 Earnings CallQ4 2015
Ameriprise Financial IncAMP US9:00Q4 2015 Earnings CallQ4 2015
Mead Johnson Nutrition CoMJN US9:30Q4 2015 Earnings CallQ4 2015
Xcel Energy IncXEL US10:00Q4 2015 Earnings CallQ4 2015
HCA Holdings IncHCA US10:00Q4 2015 Earnings CallQ4 2015
Bristol-Myers Squibb CoBMY US10:30Q4 2015 Earnings CallQ4 2015
Ball CorpBLL US11:00Q4 2015 Earnings CallQ4 2015
Caterpillar IncCAT US11:00Q4 2015 Earnings CallQ4 2015
Ford Motor CoF US11:00Q4 2015 Earnings Call - Fixed IncomeC4 2015
Harman International Industries IncHAR US11:00Q2 2016 Earnings CallQ2 2016
Helmerich & Payne IncHP US11:00Q1 2016 Earnings CallQ1 2016
Johnson Controls IncJCI US11:00Q1 2016 Earnings CallQ1 2016
Sherwin-Williams Co/TheSHW US11:00Q4 2015 Earnings CallQ4 2015
AutoNation IncAN US11:00Q4 2015 Earnings CallQ4 2015
Valero Energy CorpVLO US11:00Q4 2015 Earnings CallC4 2015
Valero Energy CorpVLO US11:00Q4 2015 Earnings CallQ4 2015
L-3 Communications Holdings IncLLL US11:00Q4 2015 Earnings CallQ4 2015
Northrop Grumman CorpNOC US12:00Q4 2015 Earnings CallQ4 2015
United Rentals IncURI US12:00Q4 2015 Earnings CallQ4 2015
Murphy Oil CorpMUR US13:00Q4 2015 Earnings CallQ4 2015
Air Products & Chemicals IncAPD US14:00Annual General MeetingY 2016
Nucor CorpNUE US14:00Q4 2015 Earnings CallQ4 2015
SL Green Realty CorpSLG US14:00Q4 2015 Earnings CallQ4 2015
Eastman Chemical CoEMN US16:30Q4 2015 Earnings ReleaseQ4 20151.549
CR Bard IncBCR US17:00Q4 2015 Earnings CallQ4 2015
Western Digital CorpWDC US17:00Q2 2016 Earnings CallQ2 2016
Amgen IncAMGN US17:00Q4 2015 Earnings CallQ4 2015
Skyworks Solutions IncSWKS US17:00Q1 2016 Earnings CallQ1 2016
Electronic Arts IncEA US17:00Q3 2016 Earnings CallQ3 2016
Amazon.com IncAMZN US17:00Q4 2015 Earnings CallQ4 2015
Visa IncV US17:00Q1 2016 Earnings CallQ1 2016
CR Bard IncBCR USAft-mktQ4 2015 Earnings ReleaseQ4 20152.413
Western Digital CorpWDC USAft-mktQ2 2016 Earnings ReleaseQ2 20161.54
Amgen IncAMGN USAft-mktQ4 2015 Earnings ReleaseQ4 20152.286
KLA-Tencor CorpKLAC USAft-mktQ2 2016 Earnings ReleaseQ2 20160.855
Microsoft CorpMSFT USAft-mktQ2 2016 Earnings ReleaseQ2 20160.71
Skyworks Solutions IncSWKS USAft-mktQ1 2016 Earnings ReleaseQ1 20161.583
Electronic Arts IncEA USAft-mktQ3 2016 Earnings ReleaseQ3 20161.811
Amazon.com IncAMZN USAft-mktQ4 2015 Earnings ReleaseQ4 20151.551
Visa IncV USAft-mktQ1 2016 Earnings ReleaseQ1 20160.681
WestRock CoWRK USAft-mktQ1 2016 Earnings ReleaseQ1 20160.6
Microsoft CorpMSFT US17:30Q2 2016 Earnings CallQ2 2016
Jacobs Engineering Group IncJEC USAnnual General Meeting
Merck & Co IncMRK USPDUFA, grazoprevir/elbasvir, hepatitis C (HCV)
Micron Technology IncMU USAnnual General Meeting
Cameron International CorpCAM USQ4 2015 Earnings ReleaseQ4 20150.719
Broadcom CorpBRCM USQ4 2015 Earnings ReleaseQ4 20150.711
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Wednesday, October 21, 2015

BARCHART MORNING CALL 10/21

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.46%) are up +0.46% at a 2-month high and European stocks are up +0.65% on positive carryover from a rally in Japan's Nikkei Stock Index which climbed to a 6-week high on speculation the BOJ may need to expand QE after Japan exports last month grew at the slowest pace in over a year. Increased M&A activity also gave equities a boost after Lam Research agreed to buy KLA-Tencor Corp. for $10.6 billion. Strength in European stocks was limited as Credit Suisse fell over 5% after it said will sell 6.05 billion francs ($6.3 billion) in stock to boost capital and meet regulatory requirements. Asian stocks settled mixed: Japan +1.91%, Hong Kong closed for holiday, China -3.06%, Taiwan -0.51%, Australia +0.24%, Singapore +0.22%, South Korea +0.29%, India -0.07%. China's Shanghai Composite fell back from a 2-month high and closed down over 3% on speculation the recent rally was overdone.
The dollar index (DXY00 -0.05%) is down -0.09%. EUR/USD (^EURUSD) is up +0.12%. USD/JPY (^USDJPY) is up +0.13% at a 1-week high as speculation the BOJ may need to expand QE undercut the yen.
Dec T-note prices (ZNZ15 +0.10%) are up +5.5 ticks.
The Japan Sep trade balance was in deficit by -114.5 billion yen, when expectations were for a surplus of +87.0 billion yen. Sep exports rose +0.6% y/y, less than expectations of +3.8 % y/y and the smallest increase in 13 months. Sep imports fell -11.1% y/y, a smaller decline than expectations of -12.0% y/y, but still the biggest drop in 6 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index-22.5%), (2) Fed Governor Jerome Powell as moderator for a panel on “Repo Markets, Liquidity, and the U.S. Treasury Market” in an event hosted by the New York Fed.
There are 31 of the S&P 500 companies that report earnings today with notable reports including: GM (consensus $1.19), AMEX (1.31), Abbott Labs (0.53), Boeing (2.20), Coca-Cola (0.50), Northern Trust (0.96), Citrix (0.84), Texas Instruments (0.67), eBay (0.40), Kinder Morgan (0.18), Motorola Solutions (0.73).
U.S. IPO's scheduled to price today: Dimension Therapeutics (DMTX), Multi Packaging Solutions (MPSX).
Equity conferences today include: Private Wealth Latin America and The Caribbean Forum on Wed.
OVERNIGHT U.S. STOCK MOVERS
KLA-Tencor Corp. (KLAC +1.39%) surged 19% in pre-market trading after Lam Research agreed to buy the company for $10.6 billion.
Tupperware Brands (TUP +0.33%) reported Q3 adjusted EPS of 79 cents, better than consensus of 71 cents.
Coca-Cola (KO +0.71%) reported Q3 EPS of 51 cents, above consensus of 50 cents.
Twitter (TWTR unch) was downgraded to 'Underweight' from 'Equalweight' at Morgan Stanley.
Terex (TEX +5.13%) fell almost 5% in after-hours trading after it reported Q3 adjusted EPS of 58 cents, below consensus of 62 cents.
FMC Technologies (FTI +0.62%) reported Q3 adjusted EPS of 61 cents, better than consensus of 58 cents, although Q3 revenue of $1.55 billion was below consensus of $1.67 billion.
IRobot (IRBT +1.66%) fell over 5% in after-hours trading after it reported Q3 EPS of 42 cents, well above consensus of 23 cents, but then lowered guidance on fiscal 2015 sales to $610 million-$615 million from a previous forecast of $625 million-$635 million, below consensus of $628.4 million.
Discover Financial Services (DFS -0.49%) climbed nearly 1% in after-hours trading after it reported Q3 EPS of $1.38, higher than consensus of $1.33.
Chipotle Mexican Grill (CMG -1.81%) dropped over 8% in after-hours trading after it reported Q3 EPS of $4.59, less than consensus of $4.62.
Yahoo! (YHOO -2.00%) slid over 1% in after-hours trading after it reported Q3 adjusted EPS of 15 cents, weaker than consensus of 16 cents.
Rush Enterprises (RUSHA -1.21%) reported Q3 EPS of 48 cents, better than consensus of 47 cents.
Intuitive Surgical (ISRG -1.13%) jumped nearly 8% in after-hours trading after it reported Q3 adjusted EPS of $5.24, well above consensus of $4.22.
Pinnacle Financial (PNFP +2.21%) reported Q4 EPS of 66 cents, higher than consensus of 64 cents.
Packaging of America (PKG -1.20%) reported Q3 EPS of $1.26, below consensus of $1.28.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.46%) this morning are up +9.25 points (+0.46%) at a fresh 2-month high. Tuesday's closes: S&P 500 -0.14%, Dow Jones-0.08%, Nasdaq -0.54%. The S&P 500 on Tuesday retreated from a 2-month high and closed lower on the unexpected -5.0% decline in U.S. Sep building permits to a 6-month low of 1.103 million and the reduced chances for an ECB QE expansion after the ECB's Bank Lending Survey said that Q3 credit standards eased for the sixth consecutive quarter. Stocks found support from the +1.14% rally in China's Shanghai Composite to a 1-3/4 month high and the +6.5% increase in U.S. Sep housing starts to 1.206 million, stronger than expectations of +1.4% to 1.142 million.
Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +5.5 ticks. Tuesday's closes: TYZ5 -13.00, FVZ5 -7.75. Dec T-notes on Tuesday fell to a 1-week low and closed lower on negative carryover from a slide in German bund prices to a 3-week low and on the stronger-than-expected U.S. Sep housing starts report.
The dollar index (DXY00 -0.05%) this morning is down -0.087 (-0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.12%). USD/JPY (^USDJPY) is up +0.15 (+0.13%) at a 1-week high. Tuesday's closes: Dollar Index -0.015 (-0.02%), EUR/USD +0.0019 (+0.17%), USD/JPY +0.34 (+0.28%). The dollar index on Tuesday closed lower on strength in EUR/USD after ECB Governing Council member Noyer said the ECB's current bond buying pace is "well calibrated," which signals he sees no need to expand QE, and after the ECB's Bank Lending Survey reported that Q3 credit standards on loans to companies eased for the sixth consecutive quarter.
Dec crude oil (CLZ15 -1.27%) this morning is down -58 cents (-1.25%) and Dec gasoline (RBZ15 -0.75%) is down -0.0083 (-0.64%). Tuesday's closes: CLZ5 -0.36 (-0.78%), RBZ5 +0.0132 (+1.04%). Dec crude oil and gasoline on Tuesday settled mixed. Gasoline prices found support from a weaker dollar and expectations that Wednesday's EIA report will show gasoline supplies fell -1.0 million bbl. Crude oil fell on expectations that Wednesday's weekly EIA report will show a +3.5 million bbl increase in crude inventories and a +500,000 bbl increase in Cushing crude oil stockpiles.
GLOBAL EVENT CALENDAR10/21/2015
US0700 ETWeekly MBA mortgage applications, previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index -22.5%.
1030 ETEIA Weekly Petroleum Status Report.
1330 ETFed Governor Jerome Powell moderates a panel on Repo Markets, Liquidity, and the U.S. Treasury Market in an event hosted by the New York Fed.
JPN0030 ETJapan Aug all-industry activity index expected -0.2% m/m, Jul +0.2% m/m.
UK0430 ETUK Sep public sector net borrowing expected +9.6 billion, Aug+11.3 billion pounds.
U.S. STOCK CALENDAR10/21/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Seagate Technology PLCSTX US4:30Annual General MeetingY 2015
Abbott LaboratoriesABT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.534
Baker Hughes IncBHI USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.135
Boeing Co/TheBA USBef-mktQ3 2015 Earnings ReleaseQ3 20152.197
Coca-Cola Co/TheKO USBef-mktQ3 2015 Earnings ReleaseQ3 20150.502
Interpublic Group of Cos Inc/TheIPG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.252
Kimberly-Clark CorpKMB USBef-mktQ3 2015 Earnings ReleaseQ3 20151.493
Thermo Fisher Scientific IncTMO USBef-mktQ3 2015 Earnings ReleaseQ3 20151.789
Biogen IncBIIB USBef-mktQ3 2015 Earnings ReleaseQ3 20153.766
Northern Trust CorpNTRS USBef-mktQ3 2015 Earnings ReleaseQ3 20150.958
Amphenol CorpAPH USBef-mktQ3 2015 Earnings ReleaseQ3 20150.653
General Motors CoGM USBef-mktQ3 2015 Earnings ReleaseQ3 20151.188
Nielsen Holdings PLCNLSN USBef-mktQ3 2015 Earnings ReleaseQ3 20150.688
EMC Corp/MAEMC US7:00Q3 2015 Earnings ReleaseQ3 20150.43
St Jude Medical IncSTJ US7:15Q3 2015 Earnings ReleaseQ3 20150.97
Illinois Tool Works IncITW US8:00Q3 2015 Earnings ReleaseQ3 20151.359
St Jude Medical IncSTJ US8:00Q3 2015 Earnings CallQ3 2015
Navient CorpNAVI US8:00Q3 2015 Earnings CallQ3 2015
Nielsen Holdings PLCNLSN US8:00Q3 2015 Earnings CallQ3 2015
EMC Corp/MAEMC US8:30Q3 2015 Earnings CallQ3 2015
Interpublic Group of Cos Inc/TheIPG US8:30Q3 2015 Earnings CallQ3 2015
Thermo Fisher Scientific IncTMO US8:30Q3 2015 Earnings CallQ3 2015
Biogen IncBIIB US8:30Q3 2015 Earnings CallQ3 2015
ACE LtdACE US8:30Q3 2015 Earnings CallQ3 2015
Abbott LaboratoriesABT US9:00Q3 2015 Earnings CallQ3 2015
FMC Technologies IncFTI US9:00Q3 2015 Earnings CallQ3 2015
Coca-Cola Co/TheKO US9:30Q3 2015 Earnings CallQ3 2015
Illinois Tool Works IncITW US10:00Q3 2015 Earnings CallQ3 2015
Kimberly-Clark CorpKMB US10:00Q3 2015 Earnings CallQ3 2015
General Motors CoGM US10:00Q3 2015 Earnings CallQ3 2015
Boeing Co/TheBA US10:30Q3 2015 Earnings CallQ3 2015
Northern Trust CorpNTRS US12:00Q3 2015 Earnings CallQ3 2015
Amphenol CorpAPH US13:00Q3 2015 Earnings CallQ3 2015
Citrix Systems IncCTXS US16:05Q3 2015 Earnings ReleaseQ3 20150.843
Robert Half International IncRHI US16:15Q3 2015 Earnings ReleaseQ3 20150.731
Texas Instruments IncTXN US16:30Q3 2015 Earnings ReleaseQ3 20150.674
Kinder Morgan Inc/DEKMI US16:30Q3 2015 Earnings CallQ3 2015
Citrix Systems IncCTXS US16:45Q3 2015 Earnings CallQ3 2015
American Express CoAXP US17:00Q3 2015 Earnings CallQ3 2015
CA IncCA US17:00Q2 2016 Earnings CallQ2 2016
Robert Half International IncRHI US17:00Q3 2015 Earnings CallQ3 2015
Lam Research CorpLRCX US17:00Q1 2016 Earnings CallC3 2016
Tractor Supply CoTSCO US17:00Q3 2015 Earnings CallQ3 2015
SanDisk CorpSNDK US17:00Q3 2015 Earnings CallQ3 2015
eBay IncEBAY US17:00Q3 2015 Earnings CallQ3 2015
American Express CoAXP USAft-mktQ3 2015 Earnings ReleaseQ3 20151.311
CA IncCA USAft-mktQ2 2016 Earnings ReleaseQ2 20160.558
Equifax IncEFX USAft-mktQ3 2015 Earnings ReleaseQ3 20151.097
Lam Research CorpLRCX USAft-mktQ1 2016 Earnings ReleaseQ1 20161.719
Tractor Supply CoTSCO USAft-mktQ3 2015 Earnings ReleaseQ3 20150.627
SanDisk CorpSNDK USAft-mktQ3 2015 Earnings ReleaseQ3 20150.798
SL Green Realty CorpSLG USAft-mktQ3 2015 Earnings ReleaseQ3 20151.567
United Rentals IncURI USAft-mktQ3 2015 Earnings ReleaseQ3 20152.355
Crown Castle International CorpCCI USAft-mktQ3 2015 Earnings ReleaseQ3 20151.046
eBay IncEBAY USAft-mktQ3 2015 Earnings ReleaseQ3 20150.401
Ameriprise Financial IncAMP USAft-mktQ3 2015 Earnings ReleaseQ3 20152.287
Kinder Morgan Inc/DEKMI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.182
Texas Instruments IncTXN US17:30Q3 2015 Earnings CallQ3 2015
Motorola Solutions IncMSI USQ3 2015 Earnings ReleaseQ3 20150.725
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Tuesday, July 21, 2015

BARCHART MORNING CALL 7/21

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU15 +0.01%) are little changed, up +0.02%. The upside in stocks overnight was limited by a 5% decline in IBM after it reported late yesterday after the markets closed that its sales in Q2 declined for a thirteenth quarter. European stocks are down -0.02%, led by a fall in drug maker stocks as Novartis AG slipped 2% after it reported a decline in Q2 earnings. Asian stocks closed mostly higher: Japan +0.93%, Hong Kong +0.52%, China +0.64%, Taiwan +0.34%, Australia +0.35%, Singapore -0.06%, South Korea +0.58%, India -0.84%. Japan's Nikkei Stock Index posted a 3-week high and was led higher by a rally in exporters after the yen fell to a 5-week low against the dollar. China's Shanghai Composite rose to a 2-week high, although 543 companies remained suspended from trading due to trading curbs, down from 576 at the close of trading on Monday.
Commodity prices are mixed. Sep crude oil (CLU15 unch) is down -0.02% at a 3-1/2 month low on concern the global oil glut will persist after Iran's oil minister said Iran plans to bolster crude production once sanctions are removed regardless of the impact on prices. Sep gasoline (RBU15 -0.97%) is down -1.08%. Metals prices are mixed. Aug gold (GCQ15 +0.05%) is down -0.12%. Sep copper (HGU15 +0.73%) is up +0.91%. Agricultural prices are higher.
The dollar index (DXY00 -0.21%) is down -0.15%. EUR/USD (^EURUSD) is up +0.31%. USD/JPY (^USDJPY) is up +0.08% at a 5-week high.

Sep T-note prices (ZNU15 -0.04%) are up +1.5 ticks on positive carry over from a rally in German bunds which climbed to a 1-week high.
Iranian Oil Minister Bijan Namdar Zanganeh said that once sanctions are removed Iran wants to pump 4 million bpd within seven months and 4.7 million bpd as soon as possible after that. Zanganeh said "our only responsibility here is attaining our lost share of the market, not protecting prices." Iran's oil exports declined to 1.4 million bpd on average last year due to sanctions, well below the 2.6 million bpd average exports in 2011, before sanctions were imposed. Iran is in talks with OPEC now and said it wants to boost oil exports by 500,000 bpd 3 to 4 months after sanctions are lifted and seeks to increase crude exports by 1.0 million bpd within a year.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) annual revisions to U.S. industrial production and capacity utilization data.
There are 22 of the S&P 500 companies that report earnings today with notable reports including: Apple (consensus 1.81), Microsoft ($0.58), Yahoo (0.19), Baker Hughes (-0.14), Bank of New York Mellon (0.66), Harley-Davidson (1.39), Chipotle (4.44).
U.S. IPO's scheduled to price today include: Blue Buffalo Pet Products (BUFF).
Equity conferences during the remainder of this week include: BIO World Congress on Industrial Biotechnology Conference on Mon, Wells Fargo Securities Telecom Symposium on Thu.
OVERNIGHT U.S. STOCK MOVERS
The Travelers Cos. (TRV -0.32%) reported Q2 EPS of $2.52, well above consensus of $2.12.
Verizon Communications (VZ +1.07%) reported Q2 EPS of $1.04, higher than consensus of $1.01.
Coca-Cola (KO +0.32%) was initiated with a 'Buy' at Sterne Agee CRT with price target of $46 and Dr Pepper Snapple (DPS +0.61%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $88.
Harley-Davidson (HOG -0.04%) reported Q2 EPS of $1.44, better than consensus of $1.39.
AB InBev (BUD +0.01%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $147.
PepsiCo (PEP +0.55%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $108.
Colgate-Palmolive (CL +0.44%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $75.
AvalonBay (AVB +0.11%) was initiated with a 'Buy' at SunTrust wit a price target of $191.
eBay (EBAY -56.90%) was downgraded to 'Hold' from 'Buy' at Stifel.
PayPal (PYPL +5.42%) climbed 3% in pre-market trading after it was initiated with a 'Buy' at BTIG with a price target of $48.
Woodward (WWD -0.30%) reported Q3 EPS of 66 cents, below consensus of 71 cents.
Monster Beverage (MNST +1.92%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $160.
Hexcel (HXL +1.30%) reported Q2 EPS of 63 cents, above consensus of 61 cents.
Sanmina (SANM +0.53%) jumped 8% in after-hours trading after it reported Q3 adjusted EPS of 53 cents, higher than consensus of 49 cents.
International Business Machines (IBM +0.41%) slid 5% in after-hours trading after it reported Q2 EPS of $3.84, better than consensus of $3.78, but Q2 revenue of $20.8 billion was less than expectations of $20.95 billion as sales declined for a thirteenth quarter.
Werner (WERN +0.36%) reported Q2 EPS of 44 cents, above consensus of 42 cents. although Q2 revenue of $534.64 million wsa below consensus of $539.65 million.
MARKET COMMENTS
September E-mini S&Ps (ESU15 +0.01%) this morning are up +0.50 of a point (+0.02%). Monday's closes: S&P 500 +0.08%, Dow Jones +0.08%, Nasdaq +0.39%. The S&P 500 on Monday posted a 1-3/4 month high on (1) carry-over support from a rally in European stocks as Grexit concerns further receded as Greek banks reopened and Greece made its ECB payment, and (2) a rally in technology stocks that took the Nasdaq Composite Index up to a fresh 15-1/4 year high. On the negative side, energy and commodity producers fell after crude oil slid to a 3-1/2 month low and gold sank to a 5-1/3 year low.
Sep 10-year T-notes (ZNU15 -0.04%) this morning are up +1.5 ticks. Monday's closes: TYU5 -7.50, FVU5 -5.25. Sep T-notes on Monday closed lower on reduced safe-haven demand with the rally in stocks and hawkish comments from St. Louis Fed President Bullard who said the Fed has to start "thinking ahead" about rate policy and move off of emergency settings.
The dollar index (DXY00 -0.21%) this morning is down -0.151 (-0.15%). EUR/USD (^EURUSD) is up +0.0034 (+0.31%). USD/JPY (^USDJPY) is up +0.10 (+0.08%) at a 5-week high. Monday's closes: Dollar Index +0.167 (+0.17%), EUR/USD -0.00026 (-0.02%), USD/JPY +0.218 (+0.18%). The dollar index on Monday rose to a 2-3/4 month high and closed higher on St. Louis Fed President Bullard's hawkish comment that he sees "more than a 50% chance" of an interest rate increase in Sep.
Sep WTI crude oil (CLU15 unch) this morning is down -1 cent (-0.02%) after posting a fresh 3-1/2 month low in overnight trade. Sep gasoline (RBU15 -0.97%) is down -0.0203 (-1.08%). Monday's closes: CLU5 -0.77 (-1.50%), RBU5 +0.0009 (+0.05%). Sep crude and gasoline Monday settled mixed with Sep crude at a 3-1/2 month low. Crude oil prices fell on the rally in the dollar index to a 2-3/4 month high and on comments from Iran's oil minister who said that Iran wants to pump 4 million bpd of crude oil within 7 months once sanction against it are removed. Gasoline prices were boosted by the rally in the S&P 500 to a 1-3/4 month high.
GLOBAL EVENT CALENDAR07/21/2015
USn/aAnnual revisions to U.S. industrial production and capacity utilization data.
JPN0100 ETRevised Japan May leading index CI, previous 106.2. Revised May coincident index, previous 109.2.
0130 ETJapan Jun nationwide department store sales, May +6.3% y/y
UK0430 ETUK Jun public sector net borrowing expected +8.7 billion pounds, May +9.4 billion pounds.
U.S. STOCK CALENDAR07/21/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Baker Hughes IncBHI USBef-mktQ2 2015 Earnings ReleaseQ2 2015-0.138
TEGNA IncTGNA USBef-mktQ2 2015 Earnings ReleaseQ2 20150.413
Omnicom Group IncOMC USBef-mktQ2 2015 Earnings ReleaseQ2 20151.219
United Technologies CorpUTX USBef-mktQ2 2015 Earnings ReleaseQ2 20151.716
Pentair PLCPNR USBef-mktQ2 2015 Earnings ReleaseQ2 20150.95
Prologis IncPLD USBef-mktQ2 2015 Earnings ReleaseQ2 20150.516
Regions Financial CorpRF US6:00Q2 2015 Earnings ReleaseQ2 20150.2
Bank of New York Mellon Corp/TheBK US6:30Q2 2015 Earnings ReleaseQ2 20150.663
Fifth Third BancorpFITB US6:30Q2 2015 Earnings ReleaseQ2 20150.391
Travelers Cos Inc/TheTRV US6:57Q2 2015 Earnings ReleaseQ2 20152.12
Dover CorpDOV US7:00Q2 2015 Earnings ReleaseQ2 20150.993
Harley-Davidson IncHOG US7:00Q2 2015 Earnings ReleaseQ2 20151.394
Verizon Communications IncVZ US7:30Q2 2015 Earnings ReleaseQ2 20151.008
Bank of New York Mellon Corp/TheBK US8:00Q2 2015 Earnings CallQ2 2015
Verizon Communications IncVZ US8:30Q2 2015 Earnings CallQ2 2015
Omnicom Group IncOMC US8:30Q2 2015 Earnings CallQ2 2015
United Technologies CorpUTX US8:30Q2 2015 Earnings CallQ2 2015
Harley-Davidson IncHOG US9:00Q2 2015 Earnings CallQ2 2015
Travelers Cos Inc/TheTRV US9:00Q2 2015 Earnings CallQ2 2015
Fifth Third BancorpFITB US9:00Q2 2015 Earnings CallQ2 2015
Pentair PLCPNR US9:00Q2 2015 Earnings CallQ2 2015
Dover CorpDOV US10:00Q2 2015 Earnings CallQ2 2015
TEGNA IncTGNA US10:00Q2 2015 Earnings CallQ2 2015
Citigroup IncC US11:00Q2 2015 Earnings Call - Fixed IncomeC2 2015
Prologis IncPLD US11:00Q2 2015 Earnings CallQ2 2015
Regions Financial CorpRF US11:00Q2 2015 Earnings CallQ2 2015
Chipotle Mexican Grill IncCMG US16:00Q2 2015 Earnings ReleaseQ2 20154.442
ACE LtdACE US16:05Q2 2015 Earnings ReleaseQ2 20152.286
Yahoo! IncYHOO US16:05Q2 2015 Earnings ReleaseQ2 20150.186
Intuitive Surgical IncISRG US16:05Q2 2015 Earnings ReleaseQ2 20153.994
Intuitive Surgical IncISRG US16:30Q2 2015 Earnings CallQ2 2015
Chipotle Mexican Grill IncCMG US16:30Q2 2015 Earnings CallQ2 2015
Apple IncAAPL US17:00Q3 2015 Earnings CallQ3 2015
Yahoo! IncYHOO US17:00Q2 2015 Earnings CallQ2 2015
Apple IncAAPL USAft-mktQ3 2015 Earnings ReleaseQ3 20151.806
Microsoft CorpMSFT USAft-mktQ4 2015 Earnings ReleaseQ4 20150.58
Linear Technology CorpLLTC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.562
FMC Technologies IncFTI USAft-mktQ2 2015 Earnings ReleaseQ2 20150.61
Navient CorpNAVI USAft-mktQ2 2015 Earnings ReleaseQ2 20150.397
Microsoft CorpMSFT US17:30Q4 2015 Earnings CallQ4 2015
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