Showing posts with label GNST. Show all posts
Showing posts with label GNST. Show all posts

Monday, November 30, 2015

MORNING CALL 11/30

MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.13%) are up +0.08% and European stocks are up +0.81% at a 3-1/2 month high. European stocks recovered from early losses and EUR/USD Slid to a 7-1/2 month low on expectations for the ECB to take additional steps to boost inflation at Thursday's policy meeting. European automakers were leading the overall market higher with Volkswagen AG and PSA Peugeot Citroen both up more than 2% on expectations of increased profits with the sell-off in EUR/USD. Limiting gains in stocks is a sell-off in BHP Billiton Ltd. which fell nearly 6% to a 7-year low as Brazil said it is seeking $5.2 billion in compensation for a dam collapse at an iron-ore mine run by Billiton ad Vales SA. Asian stocks settled mostly lower: Japan-0.69%, Hong Kong -0.33%, China +0.26%, Taiwan -0.93%, Australia -0.69%, Singapore -0.11%, South Korea -1.94%, India +0.07%. China's Shanghai Composite rebounded from a 3-week low in the last hour of trade and closed higher on speculation the government intervened in the market to support equities.
The dollar index (DXY00 +0.20%) is up +0.21% at an 8-1/2 month high. EUR/USD (^EURUSD) is down -0.16% at a 7-1/2 month low. USD/JPY (^USDJPY) is up +0.21%.
Dec T-note prices (ZNZ15 -0.10%) are down -5 ticks.
Japan Oct industrial production rose +1.4% m/m and fell -1.4% y/y, weaker than expectations of +1.8% m/m and -0.9% y/y.
German Oct retail sales fell -0.4% m/m and rose +2.1% y/y, weaker than expectations of +0.4% m/m and +2.9% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Nov Milwaukee ISM (expected +1.34 to 48.00, Oct +7.22 to 46.66), (2) Nov Chicago PMI (expected -2.2 to 54.0, Oct +7.5 to 56.2), (3) Oct pending home sales (expected +1.0% m/m and +4.5% y/y, Sep -2.3% m/m and +2.5% y/y), (4) Nov Dallas Fed manufacturing outlook level of general business activity (expected +2.7 to -10.0, Oct -3.2 to 12.7).
There are 2 of the Russell 3000 companies report earnings today: Golar LNG (consensus -0.33), Thor Industries (0.83).
U.S. IPO's scheduled to price today: GenSight Biologics (GNST), Ardelyx (ARDX).
Equity conferences this week include: Berenberg Bank European Conference on Mon, Citi Chemicals Conference on Tue, Credit Suisse Technology Conference on Tue, Citi Basic Materials Conference on Tue-Wed, Cowen and Company Ultimate Energy Conference on Tue-Wed, Piper Jaffray Health Care Conference on Tue-Wed, Credit Suisse Global Industrials Conference on Tue-Thu, Credit Suisse Technology, Media & Telecom Conference on Tue-Thu, Citi Global Financial Conference on Wed, J.P. Morgan Fintech & Specialty Finance Forum on Wed, Wells Fargo Connected Commerce Investor Summit on Wed, 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
Helmerich & Payne (HP -1.93%) was upgraded to 'Buy' from 'Neutral' at Guggenheim.
Microsoft (MSFT +0.45%) was raised to a 'Strong Buy' at Raymond James.
Diamond Offshore Drilling (DO -3.62%) and Transocean (RIG -2.49%) were both raised to 'Buy' from 'Neutral' at Guggenheim.
Dynavax Technologies (DVAX -0.64%) was rated a new 'Outperform' at RBC Capital Markets with a 12-month price target of $48.
Prologis (PLD +0.83%) was downgraded to 'Market Perform' from Outperform' at Wells Fargo Securities.
Marriott International (MAR -0.50%) and Starwood Hotels & Resorts Worldwide ({=HOT were both cut to 'Hold' from 'Buy' at Evercore ISI.
Raytheon (RTN +0.54%) was cut to 'Equal Weight' from 'Overweight' at Barclays.
FMC Technologies (FTI -1.56%) was upgraded to 'Buy' from 'Neutral' at Guggenheim.
Lululemon (LULU -0.85%) was cut to 'Under Perform' from 'Market Perform' at FBR Capital.
Paccar (PCAR +0.47%) was downgraded to 'Sector Perform' from 'Outperform' at RBC Capital Markets.
Quest Diagnostics (DGX +0.34%) won dismissal of a class action lawsuit brought by consumers claiming it monopolized the Northern California diagnostic labs market.
According to Catchpoint Systems, Neiman Marcus' (NMG) webpage was down for nearly the entire day on Black Friday.
According to people familiar with the company's plans, American International Group (AIG +0.84%) is considering the sale of blocks of life policies.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.13%) this morning are up +1.75 points (+0.08%). Friday's closes: S&P 500 +0.06%, Dow Jones -0.08%, Nasdaq +0.16%. The S&P 500 on Friday closed higher on optimism about the holiday shopping season after Adobe Systems reported a surge in e-commerce sales on Thanksgiving day with an expected $1.7 billion expected to be spent online, a +22% increase from last year. In addition, there was a rally in small cap stocks as health-care and consumer staples companies moved higher. Stocks were undercut by a -5.48% plunge in China's Shanghai Composite and by weakness in media stocks after Disney dropped over 3% after it reported subscriptions to its ESPN sports programming fell 3% in its last fiscal year.
Dec 10-year T-notes (ZNZ15 -0.10%) this morning are down -5 ticks. Friday's closes: TYZ5 +3.50, FVZ5 +2.00. Dec T-notes on Friday rallied to a 3-week high and closed higher on safe-haven demand after the -5.5% plunge in the China Shanghai Composite index. T-notes were also boost by carryover support from a rally in German bunds to a 4-week high on expectations for the ECB to cut its deposit facility rate by 10 bp when it meets on Thursday.
The dollar index (DXY00 +0.20%) this morning is up +0.210 (+0.21%) at a fresh 8-1/2 month high. EUR/USD (^EURUSD) is down -0.0017 (-0.16%) at a news 7-1/2 month low. USD/JPY (^USDJPY) is up +0.26 (+0.21%). Friday's closes: Dollar Index +0.225 (+0.23%), EUR/USD -0.0014 (-0.13%), USD/JPY +0.28 (+0.23%). The dollar index on Friday climbed to an 8-1/2 month high and closed higher on divergent central bank policies with the Fed expected to raise interest rates in December while the ECB this Thursday is expected to cut the bank deposit rate by 10 bp to -0.30% and expand its QE program.
Jan crude oil (CLF16 +0.41%) this morning is up +34 cents (+0.82%) and Jan gasoline (RBF16 -0.16%) is up +0.0054 (+0.40%). Friday's closes: CLF6-1.27 (-2.95%), RBF6 -0.0138 (-1.02%). Jan crude oil and gasoline on Friday closed lower on the rally in the dollar index to an 8-1/2 month high and concern about the global crude oil supply glut after the chairman of Libya's National Oil Corp. said that oil production from Libya's Sharara and Elephant oil fields, which have been closed for a year with a combined capacity of 440,000 bpd, could resume full production within a week of a decision to restart operations.
GLOBAL EVENT CALENDAR11/30/2015
US0900 ETNov Milwaukee ISM expected +1.34 to 48.00, Oct +7.22 to 46.66.
0945 ETNov Chicago PMI expected -2.2 to 54.0, Oct +7.5 to 56.2.
1000 ETOct pending home sales expected +1.0% m/m and +4.5% y/y, Sep -2.3% m/m and +2.5% y/y.
1030 ETNov Dallas Fed manufacturing outlook level of general business activity expected +2.7 to -10.0, Oct -3.2 to 12.7.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA weekly crop progress.
JPN0000 ETJapan Oct housing starts expected +2.6% y/y to 908,000 annualized, Sep +2.6% y/y to 900,000 annualized.
0000 ETJapan Oct construction orders, Sep +6.7% y/y.
1850 ETJapan Q3 capital spending expected +2.2% y/y, Q2 +5.6% y/y. Q3 capital spending ex-software expected +1.8% y/y, Q2 +6.6% y/y.
2035 ETRevised Japan Nov Nikkei manufacturing PMI, preliminary +0.4 to 52.8.
UK0430 ETUK Oct net consumer credit expected +1.3 billion pounds, Sep +1.3 billion pounds.
0430 ETUK Oct mortgage approvals expected 69,900, Sep 68.900.
0430 ETUK Oct M4 money supply, Sep -1.0% m/m and -0.6% y/y.
0430 ETUK Nov Lloyds business barometer, Oct 50.
GER0200 ETGerman Oct retail sales expected +0.3% m/m and +2.9% y/y, Sep unch m/m and +3.4% y/y.
0800 ETGerman Nov CPI (EU harmonized) expected +0.1% m/m and +0.3% y/y, Oct unch m/m and +0.2% y/y.
CHI2000 ETChina Nov manufacturing PMI expected +0.1 to 49.9, Oct 49.8. Nov non-manufacturing PMI, Oct 53.1.
U.S. STOCK CALENDAR11/30/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Golar LNG LtdGLNG USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.325
Golar LNG LtdGLNG US10:00Q3 2015 Earnings CallQ3 2015
Thor Industries IncTHO USQ1 2016 Earnings ReleaseQ1 20160.826
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Monday, November 9, 2015

MORNING CALL 11/9

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 -0.32%) are down -0.33% and European stocks are down -0.42 % on global growth concerns after the OECD cut its global GDP forecasts for this year and next, and after China Oct exports and imports declined more than expected. Asian stocks settled mixed: Japan +1.96%, Hong Kong -0.61%, China +1.58%, Taiwan -0.59%, Australia -1.83%, Singapore -0.42, South Korea -0.42%, India -0.55%. China's Shanghai Composite climbed to a 2-1/2 month high as a government plan to resume initial public offerings by the end of the year boosted brokerages, and Japan's Nikkei Stock Index also rose to a 2-1/2 month high as exporters rallied on improved earnings prospects after the yen fell to a 2-1/2 month low against the dollar.
The dollar index (DXY00 -0.29%) is down -0.28%. EUR/USD (^EURUSD) is up +0.41% after a gauge of Eurozone investor confidence rose more than expected. USD/JPY (^USDJPY) is up +0.26% at a 2-1/2 month high.
Dec T-note prices (ZNZ15 -0.09%) are down -4 ticks.
The OECD cut its global economic forecast for the second time in three months as it cut its global 2015 GDP estimate to 2.9% from a Sep forecast of 3.0%, and cut its 2016 global GDP forecast to 3.3% from a Sep estimate of 3.6%.
The Eurozone Nov Sentix investor confidence rose +3.4 to 15.1, stronger than expectations of +1.4 to 13.1.
The China Oct trade balance widened to a record surplus of +$61.64 billion, less than expectations of +$62.00 billion. Oct exports fell -6.9% y/y, more than expectations of -3.2% y/y and the fourth straight month of declines. Oct imports fell -18.8% y/y, more than expectations of -15.2% y/y and the twelfth consecutive month of declines.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) the Treasury's auction of $24 billion 3-year T-notes.
There are 5 of the S&P 500 companies that report earnings today: Priceline (consensus $24.19), Affiliated Managers Group (2.87), Scripps Networks Interactive (0.98), International Flavors and Fragrances (1.35), AGL Resources (0.21).
U.S. IPO's scheduled to price today: Xtera Communications (XCOM), GenSight Biologics (GNST).
Equity conferences today include: Mitsubishi UFJ Energy Tour-Houston on Mon, Morgan Stanley Global Chemicals & Agriculture Conference on Mon-Tue, Baird Healthcare Conference on Mon-Wed, Edison Electric Institute Financial Conference on Mon-Wed, Robert W. Baird & Co. Industrial Conference on Mon-Wed, Citi Financial Technology Conference on Tue, J.P. Morgan Ultimate Services Investor Conference on Tue, Mizuho Securities Technology Corporate Access Day on Tue, Mitsubishi UFJ Securities: Healthcare Conference - Seattle on Tue, Bank of America Merrill Lynch Global Energy Conference on Tue-Wed, Credit Suisse Boston Financials Conference on Tue-Wed, Credit Suisse Health Care Conference on Tue-Wed, Wells Fargo Securities Technology, Media and Telecom Conference on Tue-Wed, RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on Tue-Wed, Stephens Inc Fall Investment Conference on Tue-Wed, Jefferies Energy Conference on Wed, UBS Building & Building Products CEO Conference on Wed.









OVERNIGHT U.S. STOCK MOVERS
Alcoa (AA -1.20%) was downgraded to 'Neutral' from 'Buy' at Nomura.
Priceline Group (PCLN -0.87%) reported Q3 adjusted EPS of $25.35, better than consensus of $24.19.
Scripps Networks Interactive (SNI +1.34%) reported Q3 EPS of $1.06, higher than consensus of 98 cents.
Affiliated Managers Group (AMG +0.89%) reported Q3 EPS of $2.93, better than consensus of $2.87.
Sanofi (SNY -7.58%) was downgraded to 'Neutral' from 'Buy' at UBS.
Marathon Oil (MRO -3.74%) said it will sell some its Gulf of Mexico assets for $205 million.
Apache Corp. (APA -3.25%) jumped 11% in pre-market trading after it said it rejected an unsolicited $18 billion offer for the company.
Hertz GLobal (HTZ +4.27%) reported Q3 adjusted EPS of 49 cents, weaker than consensus of 52 cents.
Kronos Worldwide (KRO -0.37%) reported an unexpected Q3 EPS loss of -10 cents, weaker than consensus of a profit of 6 cents.
Weight Watchers (WTW +35.20%) rose 4% in after-hours trading after Point 72 Asset reported a 6.0% stake in the company.
BioCryst Pharmaceuticals (BCRX -4.28%) climbed nearly 4% in after-hours trading after Baker Bros. said they raised their stake in the company to 19.5% from 15.8%.
WhiteWave Foods (WWAV -0.96%) rose over 1% in after-hours trading on optimism over the company's Q3 earnings results that are expected before the opening of trading on Monday, Nov 9.
Acadia Pharmaceuticals (ACAD -11.53%) fell nearly 2% in after-hours trading after its Chief Medical Officer, Roger Mills, resigned.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 -0.32%) this morning are down -7.00 points (-0.33%). Friday's closes: S&P 500 -0.03%, Dow Jones +0.26%, Nasdaq +0.09%. The S&P 500 on Friday closed slightly lower on the increased odds for a Fed rate hike in December after the +271,000 increase in Oct non-farm payrolls, stronger than expectations of +185,000 and the largest increase in 10 months. In addition, energy producers sold off on a rally in the dollar index to a 6-3/4 month high, which pushed crude prices to a 1-week low. The main bullish factor was the record +$28.918 billion increase in Sep consumer credit, stronger than expectations of +$18.000 billion and a sign that consumers are confident enough in the economy to increase their debt load. Bank stocks rallied on speculation that an increase in interest rates will boost bank profits.
Dec 10-year T-notes (ZNZ15 -0.09%) this morning are down -4 ticks. Friday's closes: TYZ5 -25.00, FVZ5 -14.25. Dec T-notes on Friday slumped to a 3-1/2 month nearest-futures low and closed lower on the larger-than-expected increase in U.S. Oct non-farm payrolls and on the larger-than-expected increase in U.S. Oct average hourly earnings which bolsters the likelihood that the Fed will raise interest rates at December's FOMC meeting.
The dollar index (DXY00 -0.29%) this morning is down -0.279 (-0.28%). EUR/USD (^EURUSD) is up +0.0044 (+0.41%). USD/JPY (^USDJPY) is up +0.32 (+0.26%) at a fresh 2-1/2 month high. Friday's closes: Dollar Index +1.232 (+1.26%), EUR/USD +0.0143 (-1.31%), USD/JPY +1.38 (+1.13%). The dollar index on Friday surged to a 6-3/4 month high and closed higher on increased expectations for a December FOMC rate hike after the stronger-than-expected U.S. Oct payroll report. In addition, EUR/USD tumbled to a 6-1/2 month low on speculation the ECB may expand QE after German Sep industrial production unexpectedly fell by the most in 13 months.
Dec crude oil (CLZ15 +1.29%) this morning is up +61 cents (+1.38%) and Dec gasoline (RBZ15 +1.93%) is up +0.0284 (+2.07%). Friday's closes: CLZ5-0.68 (-1.50%), RBZ5 +0.0139 (+1.02%). Dec crude oil and gasoline prices on Friday settled mixed with Dec crude at a 1-week low. Crude oil prices were undercut by the surge in the dollar index to a 6-3/4 month high and by the ongoing U.S. crude supply glut with U.S. crude inventories more than 100 million bbls above the 5-year seasonal average. Gasoline moved higher on speculation fuel demand will increase with the strength in the economy.
GLOBAL EVENT CALENDAR11/09/2015
US1100 ETUSDA weekly grain export inspections.
1300 ETTreasury auctions $24 billion 3-year T-notes.
1600 ETUSDA weekly crop progress.
GER0200 ETGerman Sep trade balance expected +20.0 billion euros, Aug +15.4 billion euros. Sep exports expected +2.0% m/m, Aug -5.2% m/m. Sep imports expected +1.0% m/m, Aug -3.2% m/m.
0200 ETGerman Sep current account balance, Aug +12.3 billion euros.
EUR0430 ETEurozone Nov Sentix investor confidence expected +1.4 to 13.1, Oct 11.7.
0530 ETOECD economic outlook.
UK1901 ETUK Oct BRC sales like-for-like expected +0.8% y/y, Sep +2.6% y/y.
CHI2030 ETChina Oct CPI expected +1.5% y/y, Sep +1.6% y/y. Oct PPI expected -5.9% y/y, Sep -5.9% y/y.
n/aChina Oct new yuan loans expected +800.0 billion yuan, Sep +1.050 trillion yuan.
JPN2330 ETJapan Oct bankruptcies, Sep -18.62% y/y.
U.S. STOCK CALENDAR11/09/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
American Airlines Group IncAAL USBef-mktOctober 2015 Sales and Revenue Release - Traffic Results2015
Affiliated Managers Group IncAMG USBef-mktQ3 2015 Earnings ReleaseQ3 20152.87
Scripps Networks Interactive IncSNI USBef-mktQ3 2015 Earnings ReleaseQ3 20150.978
Priceline Group Inc/ThePCLN US7:00Q3 2015 Earnings ReleaseQ3 201524.19
Priceline Group Inc/ThePCLN US7:30Q3 2015 Earnings CallQ3 2015
Affiliated Managers Group IncAMG US8:00Q3 2015 Earnings CallQ3 2015
Multiple CompaniesREGN US10:00IL-6 Receptor Phase 3 Study Results Call
Scripps Networks Interactive IncSNI US10:00Q3 2015 Earnings CallQ3 2015
United Continental Holdings IncUAL US17:00October 2015 Sales and Revenue Release - Operational Performance2015
International Flavors & Fragrances IncIFF USAft-mktQ3 2015 Earnings ReleaseQ3 20151.35
AGL Resources IncGAS USQ3 2015 Earnings ReleaseQ3 20150.21
Entergy CorpETR USShareholders Meeting
Exxon Mobil CorpXOM USShareholders Meeting
Gap Inc/TheGPS USOctober 2015 Sales and Revenue Release2015
TJX Cos Inc/TheTJX USShareholders Meeting
Starbucks CorpSBUX USShareholders Meeting
Macerich Co/TheMAC USShareholders Meeting
Macerich Co/TheMAC USShareholders Meeting
Macerich Co/TheMAC USShareholders Meeting
United Parcel Service IncUPS USRoadshow - Day6Y 2015
Principal Financial Group IncPFG USRoadshow - Day 1Y 2015
CONSOL Energy IncCNX USShareholders Meeting
Wynn Resorts LtdWYNN USShareholders Meeting
Delphi Automotive PLCDLPH USShareholders Meeting
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Thursday, November 5, 2015

MORNING CALL 11/5

MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.43%) are up +0.29% and European stocks are up +0.85% on better-than-expected company quarterly earnings offset the possibility the Fed may raise interest rates next month. Facebook is up over 4% in pre-market trading after it reported stronger-than-expected Q3 earnings and Societe Generale SA and Adidas AG are both up nearly 5% after they reported better-than-expected earnings results. Comments on Wednesday from Fed Chair Yellen signaled the Fed may still yet raise interest rates this month, although European government bonds rallied today as German bunds recovered from a 2-week low after weaker-than-expected economic data on Eurozone Sep retail sales and German Sep factory orders boosted speculation the ECB may need to expand QE. As expected, the BOE kept its benchmark interest rate at 0.50% and maintained its asset purchase target at 375 billion pounds following today's policy meeting. Asian stocks settled mixed: Japan +1.00%, Hong Kong-0.01%, China +1.83%, Taiwan -0.08%, Australia -0.94%, Singapore -0.55%, South Korea -0.21%, India -0.94%. China's Shanghai Composite rose to a 2-1/2 month high as government measures to limit short selling and to direct state funds to stock purchases have boosted Chinese stocks.
The dollar index (DXY00 unch) is down -0.02%. EUR/USD (^EURUSD) is up +0.02%. USD/JPY (^USDJPY) is up % at a 2-1/4 month high as the rally in stocks reduces the safe-haven demand for the yen.
Dec T-note prices (ZNZ15 unch) are up +2.5 ticks.
The European Commission raised its 2015 Eurozone GDP estimate to 1.6% from a previous estimate of 1.5%, but cut its 2016 Eurozone GDP estimate to 1.8% from a 1.9% estimate in May.
Eurozone Sep retail sales unexpectedly fell -0.1% m/m, weaker than expectations of +0.2% m/m and the first decline in 6 months. On an annual basis, Sep retail sales rose +2.9% y/y, weaker than expectations of +3.0% y/y.
German Sep factory orders unexpectedly fell -1.7% m/m, weaker than expectations of +1.0% m/m and the third straight monthly decline. On an annual basis, Sep factory orders fell -1.0% y/y, weaker than expectations of +1.9% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Oct Challenger job cuts (Sep +93.2% y/y), (2) weekly initial unemployment claims (expected +2,000 to 262,000, previous +1,000 to 260,000) and continuing claims (expected -4,000 to 2.140 million, previous -37,000 to 2.144 million), (3) Q3 non-farm productivity (expected-0.3%, Q2 +3.3%) and Q3 unit labor costs (expected +2.5%, Q2 -1.4%), (4) speaking engagements by Fed Vice Chair Stanley Fischer, New York Fed President William Dudley and IMF Managing Director Christine Lagarde at a workshop on reforming culture and behavior in the financial services industry, and (5) Atlanta Fed President Dennis Lockhart's speech to the Joint Central Bank Conference in Bern, Switzerland.
There are 24 of the S&P 500 companies that report earnings today with notable reports including: Walt Disney (1.14), Symantec (0.42), Duke Energy (1.52), Molson Coors Brewing (1.30), Ralph Lauren (1.73), TripAdvisor (0.54), Kraft Heinz (0.65), Monster Beverage (0.81).
U.S. IPO's scheduled to price today: Lending Tree (TREE), Cancer Genetics (CGIZ), Xtera Communications (XCOM), GenSight Biologics (GNST).
Equity conferences during the remainder of this week include: Citi Global Health Care Conference on Thu, Needham Next Generation Storage Networking Conference on Thu, Bernstein Technology Innovation Summit on Thu-Fri, BancAnalysts Association of Boston Conference on Thu-Fri.



OVERNIGHT U.S. STOCK MOVERS
Molson Coors Brewing (TAP -0.55%) reported Q3 EPS of $1.40, better than consensus of $1.30.
Celgene (CELG +0.51%) reported Q3 EPS of $1.23, higher than consensus of $1.22.
Facebook (FB +1.33%) climbed over 4% in pre-market trading after it reported Q3 adjusted EPS of 57 cents, higher than consensus of 52 cents.
Gilead Sciences (GILD -0.11%) fell nearly 2% in after-hours trading after French doctors said that Gilead's hepatitis C medicine Sovaldi may trigger an abnormally slow heartbeat and put patients at risk of passing out.
Qualcomm (QCOM -1.00%) slipped over 6% in after-hours trading after it reported Q4 adjusted EPS of 91 cents, better than consensus of 86 cents, but then lowered guidance on Q1 EPS to 80 cents-90 cents, below consensus of $1.08.
Marathon Oil (MRO -1.32%) fell over 4% in after-hours trading after it reported a Q3 adjusted EPS loss of -20 cents, better than consensus of a -41 cent loss, but reported Q3 revenue of $1.32 billion, below consensus of $1.38 billion.
CenturyLink (CTL -1.65%) rose over 1% in after-hours trading after it reported Q3 adjusted EPS of 70 cents, higher than consensus of 69 cents.
Bojangles' (BOJA +4.43%) climbed nearly 5% in after-hours trading after it reported Q3 adjusted EPS of 23 cents, better than consensus of 18 cents, and then raised guidance on fiscal 2015 EPS to 79 cents-81 cents from a prior view of 75 cents-78 cents, above consensus of 76 cents.
Lannett (LCI -1.54%) tumbled 15% in after-hours trading after it reported Q1 adjusted EPS of 99 cents, higher than consensus of 89 cents, but said a "key customer has taken steps to transition its purchases of certain product lines" from Kremers Urban Pharmaceuticals, which LCI agreed to acquire on Sep 1.
SolarEdge (SEDG -8.76%) rose over 6% in after-hours trading after it reported Q1 adjusted EPS of 36 cents, better than consensus of 29 cents.
Select Comfort (SCSS -2.63%) jumped over 10% in after-hours trading after it reported Q3 EPS of 62 cents, higher than consensus of 41 cents.
FireEye (FEYE +0.66%) slumped over 15% in after-hours trading after it lowered guidance on fiscal 2015 revenue to $620 million-$628 million from an earlier estimate of $630 million-$645 million, below consensus of $640.4 million.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.43%) this morning are up +6.00 points (+0.29%). Wednesday's closes: S&P 500 -0.35%, Dow Jones -0.28%, Nasdaq -0.03%. The S&P 500 on Wednesday closed lower on interest rate concerns after Fed Chair Yellen reiterated that a December interest rate increase was a "live possibility." Stocks also saw weakness as the dollar jumped to a 2-3/4 month high and caused worries about lower overseas earnings. Energy producers saw weakness after crude oil prices sold off.
Dec 10-year T-notes (ZNZ15 unch) this morning are up +2.5 ticks. Wednesday's closes: TYZ5 -6.00, FVZ5 -7.25. Dec T-notes on Wednesday slumped to a 3-month nearest-futures low and closed lower on Fed Chair Yellen's comment that the U.S. economy performing well and that a rate hike at the Dec FOMC meeting is a "live possibility" if the economic data holds up. T-note prices were also undercut by the unexpected increase in the Oct ISM non-manufacturing index.
The dollar index (DXY00 unch) this morning is down -0.017 (-0.02%). EUR/USD (^EURUSD) is up +0.0002 (+0.02%). USD/JPY (^USDJPY) is up +0.42 (+0.35%). Wednesday's closes: Dollar Index +0.792 (+0.82%), EUR/USD -0.0098 (-0.89%), USD/JPY +0.50 (+0.41%). The dollar index on Wednesday jumped to a 2-3/4 month high and closed higher on Fed Chair Yellen's comment that an interest rate increase at the Dec FOMC meeting is a "live possibility" if economic data hold up. In addition, EUR/USD fell to a 3-1/4 month low after Tuesday afternoon's comments from ECB President Draghi that bolstered speculation the ECB may expand QE when he said the ECB is "willing and able" to act to support the recovery.
Dec crude oil (CLZ15 +0.17%) this morning is up +5 cents (+0.11%) and Dec gasoline (RBZ15 -0.40%) is down -0.0058 (-0.42%). Wednesday's closes: CLZ5 -1.32 (-2.76%), RBZ5 -0.0421 (-2.91%). Dec crude oil and gasoline prices on Wednesday closed lower on the rally in the dollar index to a 2-3/4 month high and the EIA report, which showed a +0.5% increase in U.S. crude production to 9.16 million bpd and a +2.85 million bbl increase in EIA crude inventories to a 5-1/2 month high, a bigger increase than expectations of +2.50 million bbl.
GLOBAL EVENT CALENDAR11/05/2015
US0700 ETOct Challenger job cuts, Sep +93.2% y/y.
0830 ETWeekly initial unemployment claims expected +2,000 to 262,000, previous +1,000 to 260,000. Weekly continuing claims expected -4,000 to 2.140 million, previous -37,000 to 2.144 million.
0830 ETQ3 non-farm productivity expected -0.3%, Q2 +3.3%. Q3 unit labor costs expected +2.5%, Q2 -1.4%.
0830 ETUSDA weekly Export Sales.
0830 ETFed Vice Chair Stanley Fischer, New York Fed President William Dudley and IMF Managing Director Christine Lagarde speak at a workshop on reforming culture and behavior in the financial services industry.
1330 ETAtlanta Fed President Dennis Lockhart speaks to the Joint Central Bank Conference in Bern, Switzerland.
GER0200 ETGerman Sep factory orders expected +1.0% m/m and +1.9% y/y, Aug -1.8% m/m and +1.9% y/y.
0330 ETGerman Oct Markit construction PMI, Sep 52.4.
UK0400 ETUK Oct new car registrations, Sep +8.6% y/y.
0700 ETBOE announces interest rate decision and asset purchase target, expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.
0700 ETBOE Quarterly inflation report.
EUR0500 ETEurozone Sep retail sales expected +0.2% m/m and +3.0% y/y, Aug unch m/m and +2.3% y/y.
0500 ETEuropean Commission releases economic forecasts.
U.S. STOCK CALENDAR11/05/2015

CompanyTickerTimeEvent DescriptionPeriodEstimate
CenterPoint Energy IncCNP USBef-mktQ3 2015 Earnings ReleaseQ3 20150.293
TECO Energy IncTE USBef-mktQ3 2015 Earnings ReleaseQ3 20150.313
AES Corp/VAAES USBef-mktQ3 2015 Earnings ReleaseQ3 20150.359
Celgene CorpCELG USBef-mktQ3 2015 Earnings ReleaseQ3 20151.224
Symantec CorpSYMC USBef-mktQ2 2016 Earnings ReleaseQ2 20160.419
Quanta Services IncPWR USBef-mktQ3 2015 Earnings ReleaseQ3 20150.292
Endo International PLCENDP USBef-mktQ3 2015 Earnings ReleaseQ3 20150.989
Teradata CorpTDC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.557
Duke Energy CorpDUK US7:00Q3 2015 Earnings ReleaseQ3 20151.515
Fastenal CoFAST US7:00October 2015 Sales and Revenue Release2015
L Brands IncLB US7:30October 2015 Sales and Revenue Call2015
Molson Coors Brewing CoTAP US7:30Q3 2015 Earnings ReleaseQ3 20151.295
Apache CorpAPA US8:00Q3 2015 Earnings ReleaseQ3 2015-0.375
Ralph Lauren CorpRL US8:00Q2 2016 Earnings ReleaseQ2 20161.734
MetLife IncMET US8:00Q3 2015 Earnings CallQ3 2015
Symantec CorpSYMC US8:30Q2 2016 Earnings CallQ2 2016
Endo International PLCENDP US8:30Q3 2015 Earnings CallQ3 2015
Teradata CorpTDC US8:30Q3 2015 Earnings CallQ3 2015
TECO Energy IncTE US9:00Q3 2015 Earnings CallQ3 2015
Marathon Oil CorpMRO US9:00Q3 2015 Earnings CallQ3 2015
AES Corp/VAAES US9:00Q3 2015 Earnings CallQ3 2015
Celgene CorpCELG US9:00Q3 2015 Earnings CallQ3 2015
Transocean LtdRIG US9:00Q3 2015 Earnings CallQ3 2015
Ralph Lauren CorpRL US9:00Q2 2016 Earnings CallQ2 2016
Quanta Services IncPWR US9:00Q3 2015 Earnings CallQ3 2015
CF Industries Holdings IncCF US9:00Q3 2015 Earnings CallQ3 2015
WestRock CoWRK US9:00Q4 2015 Earnings CallQ4 2015
Computer Sciences CorpCSC US9:30Investor DayY 2015
CenterPoint Energy IncCNP US9:30Q3 2015 Earnings CallQ3 2015
Duke Energy CorpDUK US10:00Q3 2015 Earnings CallQ3 2015
Kimco Realty CorpKIM US10:00Q3 2015 Earnings CallQ3 2015
Fastenal CoFAST US10:00Investor MeetingY 2015
Molson Coors Brewing CoTAP US11:00Q3 2015 Earnings CallC3 2015
Prudential Financial IncPRU US11:00Q3 2015 Earnings CallQ3 2015
Molson Coors Brewing CoTAP US13:00Q3 2015 Earnings Call - Follow-Up SessionQ3 2015
Apache CorpAPA US14:00Q3 2015 Earnings CallQ3 2015
Qorvo IncQRVO US16:00Q2 2016 Earnings ReleaseQ2 20161.114
Walt Disney Co/TheDIS US16:15Q4 2015 Earnings ReleaseQ4 20151.141
NVIDIA CorpNVDA US16:20Q3 2016 Earnings ReleaseQ3 20160.345
TripAdvisor IncTRIP US16:30Q3 2015 Earnings CallQ3 2015
Walt Disney Co/TheDIS US17:00Q4 2015 Earnings CallQ4 2015
PerkinElmer IncPKI US17:00Q3 2015 Earnings CallQ3 2015
Skyworks Solutions IncSWKS US17:00Q4 2015 Earnings CallQ4 2015
NVIDIA CorpNVDA US17:00Q3 2016 Earnings CallQ3 2016
Kraft Heinz Co/TheKHC US17:00Q3 2015 Earnings CallQ3 2015
Qorvo IncQRVO US17:00Q2 2016 Earnings CallQ2 2016
Monster Beverage CorpMNST US17:00Q3 2015 Earnings CallQ3 2015
Consolidated Edison IncED USAft-mktQ3 2015 Earnings ReleaseQ3 20151.481
PerkinElmer IncPKI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.598
EOG Resources IncEOG USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.302
Skyworks Solutions IncSWKS USAft-mktQ4 2015 Earnings ReleaseQ4 20151.516
Mohawk Industries IncMHK USAft-mktQ3 2015 Earnings ReleaseQ3 20152.991
TripAdvisor IncTRIP USAft-mktQ3 2015 Earnings ReleaseQ3 20150.54
News CorpNWSA USAft-mktQ1 2016 Earnings ReleaseQ1 20160.057
Kraft Heinz Co/TheKHC USAft-mktQ3 2015 Earnings ReleaseQ3 20150.647
Monster Beverage CorpMNST USAft-mktQ3 2015 Earnings ReleaseQ3 20150.809
News CorpNWSA US17:30Q1 2016 Earnings CallQ1 2016
L Brands IncLB USOctober 2015 Sales and Revenue Release2015
Gilead Sciences IncGILD USPDUFA, ECF/TAF single tablet for HIV
United Parcel Service IncUPS USRoadshow - Day2Y 2015
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