Showing posts with label GRUB. Show all posts
Showing posts with label GRUB. Show all posts

Friday, January 13, 2017

MORNING CALL 1/13

Barchart Morning Call

Barchart.com - Fri Jan 13, 6:36AM CST
OVERNIGHT MARKETS AND NEWS
Mar E-mini S&Ps (ESH17 +0.09%) are up +0.11% and European stocks are up +0.71% after upbeat comments late Thursday evening from Fed Chair Yellen who said the U.S. economy faces no serious short-term obstacles with low unemployment and wage growth beginning to pick up. Stock gains were limited on global growth concerns after China Dec exports declined more than expected. Also, a -1.13% decline in Feb WTI crude prices (CLG17 -1.08%) is undercutting energy producing stocks. Asian stocks settled mixed: Japan +0.80%, Hong Kong +0.47%, China -0.21%, Taiwan -0.33%, Australia -0.79%, Singapore +1.07%, South Korea -0.76%, India -0.03%. Chinese stocks closed lower as exporting companies sold-off on earnings concerns after China Dec exports fell more than expected.
The dollar index (DXY00 -0.15%) is down -0.17%. EUR/USD (^EURUSD) is up +0.39% and found support on a jump in German Dec wholesale prices by the most in 4-years, which bolsters the case for the ECB to taper QE. USD/JPY (^USDJPY) is down -0.04%.
Mar 10-year T-note prices (ZNH17 +0.11%) are up +4 ticks.
Fed Chair Yellen said late Thursday evening that the U.S. economy faces no serious short-term obstacles, but must deal with long-term challenges of low productivity and income inequality. She said “unemployment has now reached a low level; the labor market is generally strong and wage growth is beginning to pick up. Inflation has moved up from a very low level, and it's a little bit under our 2% objective, but it's very close."
The German Dec wholesale price index rose +1.2% m/m and +2.8% y/y, the fastest pace of increase in 4 years.
The China Dec trade balance shrank to a surplus of +$40.82 billion, narrower than expectations of +$47.55 billion and the smallest surplus in 8 months. Dec exports fell -6.1% y/y, weaker than expectations of -4.0% y/y. Dec imports rose +3.1% y/y, stronger than expectations of +3.0% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Dec retail sales (expected +0.7% and +0.5% ex autos, Nov +0.1% and +0.2% ex autos), (2) Dec PPI final demand (expected +0.3% m/m and +1.6% y/y, Nov +0.4% m/m and +1.3% y/y) and Dec PPI ex food & energy (expected +0.1% m/m and +1.5% y/y, Nov +0.4% m/m and +1.6% y/y), (3) Philadelphia Fed President Patrick Harker (voter) speaks on economic mobility at an event in Philadelphia, (4) Nov business inventories (expected +0.6%, Oct -0.2%), (5) preliminary-Jan University of Michigan U.S. consumer sentiment index (expected +0.3 to 98.5, Dec +4.4 to 98.2), (6) Dec monthly budget statement (expected -$25.0 billion, Nov -$136.7 billion).
S&P 500 earnings reports today include: JPMorgan (consensus $1.43), Bank of America (0.38), BlackRock (5.02), PNC Financial (1.85), Wells Fargo (1.00).
U.S. IPO's scheduled to price today: none.
Equity conferences today: none.
OVERNIGHT U.S. STOCK MOVERS
Bank of America (BAC -0.65%) is up +0.5% in pre-market trading after it reported Q4 adjusted EPS of 40 cents, better than consensus of 38 cents
GrubHub (GRUB +0.54%) rose 2% in pre-market trading after being upgraded by Morgan Stanley to 'Overweight' from 'Equal-weight'
BlackRock (BLK -0.70%) reported Q4 adjusted EPS of $5.14, stronger than consensus of $5.02.
GameStop (GME +0.45%) was downgraded to 'Neutral' from 'Outperform' at Macquarie Research with a 12-month target price of $23.
Tractor Supply (TSCO -0.72%) was upgraded to 'Outperform' from 'Neutral' at Wedbush.
Zillow Group (ZG +1.80%) was downgraded to 'Equal-weight' from 'Overweight' at Morgan Stanley.
Independence Realty Trust (IRT -0.44%) was rated a new 'Outperform' at Baird with a 12-month target price of $10.
Signet Jewelers (SIG -0.40%) slid over 1% in after-hours trading after Corvex Management sold 2.5 million shares in a block trade.
WPX Energy (WPX -1.36%) lost 1% in after-hours trading after it announced a public offering of 42 million shares of common stock.
Pandora Media (P +0.93%) jumped 7% in after-hours trading after it said it sees Q4 revenue above its October 25 forecast of $362 million-$374 million citing strong advertising.
Two Harbors Investment (TWO -0.45%) fell nearly 2% in after-hours trading after it proposed a public offering of $250 million of senior convertible notes due 2022.
Uranium Resources (URRE -1.88%) slumped 17% in after-hours trading after it proposed a public offering of common stock, although no size or terms of the offering were mentioned.
Nivalis Therapeutics (NVLS -2.64%) gained 2% in after-hours trading after it announced restructuring plans to "reduce operational costs and preserve cash" while exploring strategic alternatives and named CFO Michael Carruthers as interim president effective Jan 15.
MARKET COMMENTS
Mar E-mini S&Ps (ESH17 +0.09%) this morning are up +2.50 points (+0.11%). Thursday's closes: S&P 500 -0.21%, Dow Jones -0.32%, Nasdaq -0.17%. The S&P 500 on Thursday dropped to a 1-week low and closed lower on some continued disappointment that President-elect Trump did not provide specifics on any of his fiscal-stimulus plans in Wednesday's press conference. There was also continued weakness in pharmaceutical and biotech stocks after President-elect Trump said he would force drug makers to bid for government business to save the government money. Stocks found some support from the +10,000 rise in U.S. weekly jobless claims to 247,000, less than expectations of +20,000 to 255,000.
Mar 10-year T-notes (ZNH17 +0.11%) this morning are up +4 ticks. Thursday's closes: TYH7 +2.50, FVH7 +1.50. Mar 10-year T-notes on Thursday closed higher and the 10-year T-note yield fell to a 6-week low of 2.305%. T-note prices were boosted by the sell-off in the S&P 500 to a 1-week low, which boosted the safe-haven demand for T-notes, and by strong foreign demand for the Treasury's $12 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.32, above the 12-auction average of 2.29. In addition, indirect bidders, a proxy for foreign buyers, bought 66.7% of the auction, above the 12-auction average of 61.4%.
The dollar index (DXY00 -0.15%) this morning is down -0.17 (-0.17%). EUR/USD (^EURUSD) is up +0.0032 (+0.30%). USD/JPY (^USDJPY) is down -0.05 (-0.04%). Thursday's closes: Dollar index -0.43 (-0.42%), EUR/USD +0.0031 (+0.29%), USD/JPY -0.69 (-0.60%). The dollar index on Thursday tumbled to a 1-month low and closed lower on continued liquidation of long dollar positions on disappointment that President-elect Trump did not discuss his administration's fiscal stimulus plans at Wednesday's press conference. The dollar was also undercut by reduced dollar interest rate differentials after the 10-year T-note yield dropped to a 1-1/4 month low. USD/JPY fell to a 1-month low as weakness in stocks boosted the safe-haven demand for the yen.
Feb WTI crude oil prices (CLG17 -1.08%) this morning are down -60 cents (-1.13%) and Feb gasoline (RBG17 -0.52%) is -0.0092 (-0.57%). Thursday's closes: Feb crude +0.78 (+1.49%), Feb gasoline +0.0247 (+1.55%). Feb crude oil and gasoline on Thursday closed higher on the sell-off in the dollar index to a 1-month low and on signs of falling OPEC oil production after Saudi Arabia's Energy Minister Al-Falih said that Saudi oil production is now below 10 million bpd, a deeper cut than the 10.058 million bpd it had agreed to and the lowest production in 22 months. Crude oil also found continued support from Wednesday's EIA data that showed strong refinery demand for crude after U.S. refiners used 17.1 million bpd of crude last week, the most since data began in 1989.
GLOBAL EVENT CALENDAR01/13/2017
Friday, Jan 13
US0830 ETDec retail sales expected +0.7% and +0.5% ex autos, Nov +0.1% and +0.2% ex autos.
0830 ETDec PPI final demand expected +0.3% m/m and +1.6% y/y, Nov +0.4% m/m and +1.3% y/y. Dec PPI ex food & energy expected +0.1% m/m and +1.5% y/y, Nov +0.4% m/m and +1.6% y/y.
0930 ETPhiladelphia Fed President Patrick Harker (voter) speaks on economic mobility at an event in Philadelphia.
1000 ETNov business inventories expected +0.6%, Oct -0.2%.
1000 ETPreliminary-Jan University of Michigan U.S. consumer sentiment index expected +0.3 to 98.5, Dec +4.4 to 98.2.
1400 ETDec monthly budget statement expected -$25.0 billion, Nov -$136.7 billion.
Tuesday, Jan 17
US0830 ETJan Empire manufacturing survey general business conditions expected -1.2 to 7.8, Dec +7.5 to 9.0.
0845 ETNew York Fed President Dudley (voter) speaks at a National Retail Federation Conference on consumer behavior.
1100 ETUSDA weekly grain export inspections.
1800 ETSan Francisco Fed President John Williams (non-voter) speaks at the Sacramento Business Review Economic Forecast event.
U.S. STOCK CALENDAR01/13/2017

CompanyTickerTimeEvent DescriptionPeriodEstimate
BlackRock IncBLK USBef-mktQ4 2016 Earnings ReleaseQ4 20165.022
First Republic Bank/CAFRC USBef-mktQ4 2016 Earnings ReleaseQ4 20161.025
JPMorgan Chase & CoJPM US6:45Q4 2016 Earnings ReleaseQ4 20161.427
Bank of America CorpBAC US6:45Q4 2016 Earnings ReleaseQ4 20160.377
PNC Financial Services Group Inc/ThePNC US6:45Q4 2016 Earnings ReleaseQ4 20161.845
First Horizon National CorpFHN US7:00Q4 2016 Earnings ReleaseQ4 20160.254
Wells Fargo & CoWFC US8:00Q4 2016 Earnings ReleaseQ4 20160.999
Bank of America CorpBAC US8:30Q4 2016 Earnings CallQ4 2016
BlackRock IncBLK US8:30Q4 2016 Earnings CallQ4 2016
First Horizon National CorpFHN US9:30Q4 2016 Earnings CallQ4 2016
JPMorgan Chase & CoJPM US10:00Q4 2016 Earnings CallQ4 2016
John Wiley & Sons IncJW/A US10:00Investor DayY 2017
First Republic Bank/CAFRC US10:00Q4 2016 Earnings CallQ4 2016
PNC Financial Services Group Inc/ThePNC US11:00Q4 2016 Earnings CallQ4 2016
Wells Fargo & CoWFC US11:30Q4 2016 Earnings CallQ4 2016
GameStop CorpGME USDecember 2016 Sales and Revenue Release2016
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , , , ,

Tuesday, April 21, 2015

BARCHART MORNING CALL 4/21



OVERNIGHT MARKETS AND NEWS
June E-mini S&Ps (ESM15 +0.37%) this morning are up +0.31% amid merger activity and corporate earnings. Mylan NV surged 13% in pre-market trading after people with knowledge of the matter said Teva Pharmaceutical Industries Ltd. is preparing an unsolicited offer for the company, while Lam Research climbed nearly 10% in European trading after it reported Q3 profit that was above consensus. European stocks gave up an early advance and are down -0.05% after the German Apr ZEW investor confidence unexpectedly fell for the first time in 6 months. Greek funding concerns are another negative as the yield on the Greek 10-year bond rose to a 2-1/3 year high of 13.56%. The Greek government on Monday ordered local administrations to move funds to Greece's central bank as it struggles to find funds for salaries and a repayment to the IMF. Asian stocks closed mostly higher as the action by the PBOC to lower reserve-requirement ratios for banks outweighed efforts by Chinese regulators to curb speculative trading: Japan +1.40%, Hong Kong +2.79%, China +1.82%, Taiwan -0.20%, Australia +0.67%, Singapore +0.15%, South Korea -0.14%, India -0.75%.
Commodity prices are mixed. May crude oil (CLK15 -0.50%) is down -0.27% and May gasoline (RBK15 -1.32%) is down -0.93% on expectations that Wednesday's EIA data will show crude stockpiles rose +2.5 million bbl, exacerbating a supply glut. Metals prices are mixed. Jun gold (GCM15 +0.49%) is up +0.38%. May copper (HGK15 -0.48%) is down -0.46%. Agriculture prices are weaker.
The dollar index (DXY00 +0.16%) is up +0.35%. EUR/USD (^EURUSD) is down -0.55%%. USD/JPY (^USDJPY) is up +0.23%.

Jun T-note prices (ZNM15 +0.13%) are up +3.5 ticks.
EUR/USD is lower on Greek funding concerns after people with knowledge of the discussions said the ECB staff has produced a proposal to increase the haircuts Greek lenders take on the collateral they post when borrowing from the Bank of Greece. Greek banks currently have access to 74 billion euros of emergency funds from the Greek central bank, an amount that is increasing and is under review each week from the ECB Governing Council.
The German Apr ZEW survey of expectations for economic growth unexpectedly fell for the first time in six months as it declined -1.5 to 53.3, weaker than expectations of a +0.5 point increase to 55.3. The Apr ZEW survey current situation, however, jumped +15.1 to 70.2, well above expectations of +1.4 to 56.5 and the highest in 3-3/4 years.
U.S. STOCK PREVIEW
There are no U.S. economic reports today.
There are 33 of the S&P 500 companies that report earnings today with notable reports including: Northern Trust (0.87), Discover (1.27), Amgen (2.10), Verizon (0.95), Harley-Davidson (1.24), Travelers (2.52), Lockheed (2.50).
U.S. IPO's scheduled to price or trade today: none.
Equity conferences during the remainder of this week include: IPAA Oil & Gas Conference on Mon-Tue, American Association for Cancer Research Meeting on Mon-Wed, IHS CERAWeek Energy Conference on Mon-Thu, Cards & Payments Asia 2015 on Tue, Financial Times Commodities Global Summit on Tue-Wed, Future Bank Asia 2015 on Tue-Wed, American Academy of Neurology Meeting on Wed, Capital Link Closed-End Funds & Global ETFs Forum - Panel on Thu, RSA Conference on Thu.
OVERNIGHT U.S. STOCK MOVERS
Travelers (TRV +0.70%) reported Q1 EPS of $2.53, above consensus of $2.52.
United Technologies (UTX +1.22%) reported Q1 EPS of $1.51, higher than conensus of $1.46.
Kimberly-Clark (KMB +0.54%) reported Q1 EPS of $1.42, better than consensus of $1.33.
Under Armour (UA +3.08%) reported Q1 EPS of 7 cents, stronger than consensus of 5 cents.
Harley-Davidson (HOG +1.93%) reported Q1 EPS of $1.27, better than consensus of $1.24.
Steel Dynamics (STLD +2.15%) reported Q1 adjusted EPS of 17 cents, above consensus of 15 cents.
Luxor Capital reported a 5% passive stake in GrubHub (GRUB +0.55%) .
Packaging Corp. (PKG +0.34%) reported Q1 adjusted EPS of $1.01, below consensus of $1.08.
Coach (COH +0.33%) was initiated with a 'Sell' and a $32 price target at Cantor.
Sanmina (SANM +0.95%) fell nearly 10% in after-hours tradign after it lowered guidance on fiscal Q3 EPS to 48 cents-52 cents, below consensus of 56 cents, and said it sees Q3 revenue of $1.5 billion-$1.55 billion, below consensus of $1.64 billion.
Bed Bath & Beyond (BBBY +1.19%) was initiated with a 'Buy' at Cantor with a price target of $83.
IDEX Corp. (IEX +1.55%) reported Q1 EPS of 84 cents, above consensus of 83 cents.
Dollar Tree (DLTR +0.72%) was initiated with a 'Buy' at Cantor with a price target of $96.
Lam Research (LRCX +1.88%) jumped nearly 10% in after-hours trading after it reported Q3 EPS of $1.40, higher than consensus of $1.30.
International Business Machines (IBM +3.42%) reported Q1 EPS of $2.91, better than consensus of $2.82.
MARKET COMMENTS
June E-mini S&Ps (ESM15 +0.37%) this morning are up +6.50 points (+0.31%). The S&P 500 on Monday settled higher: S&P 500 +0.92%, Dow Jones +1.17%, Nasdaq +1.51%. Supportive factors for stocks included (1) the action by the PBOC to reduce banks' reserve requirement ratios for the second time this year, which should support growth in China and is positive for the global economy, and (2) upbeat comments from New York Fed President Dudley who said that "despite the weak performance of the first quarter, I believe that the growth prospects for the U.S. economy over the remainder of 2015 will improve."
Jun 10-year T-notes (ZNM15 +0.13%) this morning are up +3.5 ticks. T-notes prices on Monday closed lower: TYM5 -9.00, FVM5 -3.75. Bearish factors included (1) reduced safe-haven demand for Treasuries after stocks rallied, and (2) comments from New York Fed President Dudley that suggest he favors raising interest rates this year when he said that "the growth prospects for the U.S. economy over the remainder of 2015 will improve."
The dollar index (DXY00 +0.16%) this morning is up +0.342 (+0.35%). EUR/USD (^EURUSD) is down -0.0059 (-0.55%). USD/JPY (^USDJPY) is up +0.27 (+0.23%). The dollar index on Monday closed higher: Dollar Index +0.421 (+0.43%), EUR/USD -0.00671 (-0.62%), USD/JPY +0.316 (+0.27%). Bullish factors included (1) comments from New York Fed President Dudley who said that he's "relatively optimistic" that a rebound in U.S. growth will warrant raising interest rates this year, and (2) weakness in EUR/USD after the 10-year Greek bond yield jumped to a 2-1/3 year high of 13.328% on concern Greece will be unable to secure financing in time to avoid default.
May WTI crude oil (CLK15 -0.50%) this morning is down -15 cents (-0.27%) and May gasoline (RBK15 -1.32%) is down -0.0180 (-0.93%). May crude and gasoline on Monday closed higher with May gasoline at a 1-1/2 month high: CLK5 +0.64 (+1.15%), RBK5 +0.0051 (+0.26%). Bullish factors included (1) the action by the PBOC to cut banks' reserve requirements for the second time this year, which may boost China's economy and its demand for energy, and (2) the estimation from energy research firm Genscape that Wednesday's EIA data will show that crude supplies declined at Cushing, OK, the delivery point of WTI futures.
GLOBAL EVENT CALENDAR04/21/2015
USn/aNo U.S. economic reports or Fed speakers scheduled.
JPN0100 ETRevised Japan Feb leading index CI, previous -0.2 to 105.3. Revised Feb coincident index, previous -2.8 to 110.5.
0200 ETJapan Mar nationwide department store sales, Feb +1.1% y/y.
1950 ETJapan Mar trade balance expected +44.6 billion yen, Feb -425.0 billion yen. Mar exports expected +8.5% y/y, Feb +2.5% y/y. Mar imports expected -12.6% y/y, Feb -3.6% y/y.
GER0500 ETGerman Apr ZEW survey of expectations for economic growth expected +0.5 to 55.3, Mar 54.8. Apr ZEW survey current situation expected +1.4 to 56.5, Mar 55.1.
U.S. STOCK CALENDAR04/21/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Baker Hughes IncBHI USBef-mktQ1 2015 Earnings ReleaseQ1 20150.46
EI du Pont de Nemours & CoDD USBef-mktQ1 2015 Earnings ReleaseQ1 20151.31
Gannett Co IncGCI USBef-mktQ1 2015 Earnings ReleaseQ1 20150.448
Genuine Parts CoGPC USBef-mktQ1 2015 Earnings ReleaseQ1 20151.054
Harley-Davidson IncHOG USBef-mktQ1 2015 Earnings ReleaseQ1 20151.241
Kansas City SouthernKSU USBef-mktQ1 2015 Earnings ReleaseQ1 20151.077
Kimberly-Clark CorpKMB USBef-mktQ1 2015 Earnings ReleaseQ1 20151.329
Omnicom Group IncOMC USBef-mktQ1 2015 Earnings ReleaseQ1 20150.823
Travelers Cos Inc/TheTRV USBef-mktQ1 2015 Earnings ReleaseQ1 20152.522
United Technologies CorpUTX USBef-mktQ1 2015 Earnings ReleaseQ1 20151.461
PACCAR IncPCAR USBef-mktQ1 2015 Earnings ReleaseQ1 20151.012
Northern Trust CorpNTRS USBef-mktQ1 2015 Earnings ReleaseQ1 20150.872
Pentair PLCPNR USBef-mktQ1 2015 Earnings ReleaseQ1 20150.651
Lockheed Martin CorpLMT USBef-mktQ1 2015 Earnings ReleaseQ1 20152.499
Allegheny Technologies IncATI USBef-mktQ1 2015 Earnings ReleaseQ1 20150.102
Regions Financial CorpRF USBef-mktQ1 2015 Earnings ReleaseQ1 20150.18
Fifth Third BancorpFITB US6:30Q1 2015 Earnings ReleaseQ1 20150.371
Dover CorpDOV US7:00Q1 2015 Earnings ReleaseQ1 20150.706
Under Armour IncUA US7:15Q1 2015 Earnings ReleaseQ1 20150.047
Verizon Communications IncVZ US7:30Q1 2015 Earnings ReleaseQ1 20150.95
Illinois Tool Works IncITW US8:00Q1 2015 Earnings ReleaseQ1 20151.173
Verizon Communications IncVZ US8:30Q1 2015 Earnings CallQ1 2015
Omnicom Group IncOMC US8:30Q1 2015 Earnings CallQ1 2015
Allegheny Technologies IncATI US8:30Q1 2015 Earnings CallQ1 2015
Under Armour IncUA US8:30Q1 2015 Earnings CallQ1 2015
Kansas City SouthernKSU US8:45Q1 2015 Earnings CallQ1 2015
EI du Pont de Nemours & CoDD US9:00Q1 2015 Earnings CallQ1 2015
Harley-Davidson IncHOG US9:00Q1 2015 Earnings CallQ1 2015
Travelers Cos Inc/TheTRV US9:00Q1 2015 Earnings CallQ1 2015
United Technologies CorpUTX US9:00Q1 2015 Earnings CallQ1 2015
Fifth Third BancorpFITB US9:00Q1 2015 Earnings CallQ1 2015
Pentair PLCPNR US9:00Q1 2015 Earnings CallQ1 2015
Dover CorpDOV US10:00Q1 2015 Earnings CallQ1 2015
Gannett Co IncGCI US10:00Q1 2015 Earnings CallQ1 2015
Illinois Tool Works IncITW US10:00Q1 2015 Earnings CallQ1 2015
Kimberly-Clark CorpKMB US10:00Q1 2015 Earnings CallQ1 2015
Northern Trust CorpNTRS US10:00Q1 2015 Earnings CallQ1 2015
Genuine Parts CoGPC US11:00Q1 2015 Earnings CallQ1 2015
PACCAR IncPCAR US11:00Q1 2015 Earnings CallQ1 2015
Fastenal CoFAST US11:00Annual General MeetingY 2015
Lockheed Martin CorpLMT US11:00Q1 2015 Earnings CallQ1 2015
Regions Financial CorpRF US11:00Q1 2015 Earnings CallQ1 2015
Northern Trust CorpNTRS US11:30Annual General MeetingY 2015
PACCAR IncPCAR US13:30Annual General Meeting
Stryker CorpSYK US16:00Q1 2015 Earnings ReleaseQ1 20151.084
Chipotle Mexican Grill IncCMG US16:00Q1 2015 Earnings ReleaseQ1 20153.651
ACE LtdACE US16:05Q1 2015 Earnings ReleaseQ1 20152.22
Stryker CorpSYK US16:30Q1 2015 Earnings CallQ1 2015
Intuitive Surgical IncISRG US16:30Q1 2015 Earnings CallQ1 2015
Chipotle Mexican Grill IncCMG US16:30Q1 2015 Earnings CallQ1 2015
Broadcom CorpBRCM US16:45Q1 2015 Earnings CallQ1 2015
Amgen IncAMGN US17:00Q1 2015 Earnings CallQ1 2015
Yahoo! IncYHOO US17:00Q1 2015 Earnings CallQ1 2015
Discover Financial ServicesDFS US17:00Q1 2015 Earnings CallQ1 2015
Amgen IncAMGN USAft-mktQ1 2015 Earnings ReleaseQ1 20152.102
Yahoo! IncYHOO USAft-mktQ1 2015 Earnings ReleaseQ1 20150.184
Yum! Brands IncYUM USAft-mktQ1 2015 Earnings ReleaseQ1 20150.719
United Rentals IncURI USAft-mktQ1 2015 Earnings ReleaseQ1 20151.187
Broadcom CorpBRCM USAft-mktQ1 2015 Earnings ReleaseQ1 20150.604
Intuitive Surgical IncISRG USAft-mktQ1 2015 Earnings ReleaseQ1 20153.87
FMC Technologies IncFTI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.592
Discover Financial ServicesDFS USAft-mktQ1 2015 Earnings ReleaseQ1 20151.268
Navient CorpNAVI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.5
American Electric Power Co IncAEP USAnnual General Meeting
Public Service Enterprise Group IncPEG USAnnual General Meeting
Whirlpool CorpWHR USAnnual General Meeting
M&T Bank CorpMTB USAnnual General Meeting
Huntington Bancshares Inc/OHHBAN USBoard Meeting
US Bancorp/MNUSB USAnnual General Meeting
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , , , , ,

Friday, January 16, 2015

BARCHART MORNING CALL 1/16

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 -0.54%) this morning are down -0.15% at a 4-week low and European stocks shed losses and are up +0.55% after comments from ECB Executive Board member Coeure bolstered speculation the ECB will embark on a program of buying sovereign debt at its meeting next Thursday. The fallout from Thursday's surprise move by the Swiss National Bank (SNB) to abandon its currency cap led to huge losses in the forex market with New Zealand's Global Brokers NZ Ltd. saying that losses from the franc's surge are forcing it to shut down and British broker Alpari Ltd. said it "entered into insolvency." Also, FXCM Inc., the largest U.S. retail foreign-exchange broker, said clients owe $225 million on their accounts and threaten the firm's compliance with capital rules. Asian stocks closed mostly lower: Japan -1.43%, Hong Kong -1.02%, China +0.86%, Taiwan -0.29%, Australia -0.60%, Singapore -1.14%, South Korea -1.44%, India +0.17%. Japan's Nikkei Stock Index dropped to a 2-1/2 month low after the SNB's unexpected scrapping of its currency cap prompted investors to avert risk and dump stocks. Chinese stocks bucked the trend and rallied on speculation the PBOC will soon cut reserve-requirement ratios. Commodity prices are mixed. Feb crude oil (CLG15 +2.21%) is up +2.72%. Feb gasoline (RBG15 +1.47%) is up +2.20%. Feb gold (GCG15 -0.17%) is down -0.37%. Mar copper (HGH15 -0.23%) is unch. Agriculture prices are higher. The dollar index (DXY00 +0.16%) is up +0.13%. EUR/USD (^EURUSD) is down -0.40%. USD/JPY (^USDJPY) is up +0.46%. Mar T-note prices (ZNH15 +0.28%) are up +8 ticks.
In a sign that the ECB will implement quantitative easing at next Thursday's policy meeting, ECB Executive Board member Coeure said that for QE to be efficient "it would have to be big" and that "we will take into account the American and British experiences to determine the amounts of bonds to buy."
Eurozone Dec CPI fell -0.1% m/m, right on expectations and the third consecutive month of declines. Dec CPI of -0.2% y/y was left unrevised, although Dec core CPI was revised lower to +0.7% y/y from the originally reported +0.8% y/y and matched the slowest pace of increase since data began in 1997.
Eurozone Dec new car registrations rose +4.7% y/y to 951,000, the sixteenth consecutive month registrations have increased.
The Japan Nov tertiary industry index rose +0.2% m/m, right on expectations, although Oct was revised upward to -0.1% m/m from the originally reported -0.2% m/m.
U.S. STOCK PREVIEW
Today’s early-Jan U.S. consumer confidence index from the University of Michigan is expected to show a +0.5 point increase to 94.1, adding to December’s +4.8 point rise to an 8-year high of 93.6.  Today’s Dec CPI is expected to drop to +0.7% y/y from Nov’s +1.3% due to the plunge in oil and gasoline prices.  Today’s Dec core CPI is expected to be unchanged from November at +1.7% y/y.  Today’s Dec industrial production report is expected to show a small decline of -0.1% m/m, stalling after November’s sharp increase of +1.3% m/m.  There are 5 the S&P 500 companies that report earnings today:  Goldman Sachs (consensus $4.36), Schwab (0.24), Comerica (0.77), SunTrust Banks (0.80), PNC Financial (1.73).  Equity conferences today include:   Biomarkers from Research to Clinic Conference on Fri.
OVERNIGHT U.S. STOCK MOVERS
Starwood (HOT -1.00%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Gap (GPS -2.37%) was downgraded to 'Neutral' from 'Overweight' at Atlantic Equities.
CSX (CSX +1.37%) was upgraded to 'Positive' from 'Neutral' at Susquehanna.
PNC Financial Services Group (PNC -0.70%) reported Q4 EPS of $1.84, stronger than consensus of $1.73.
Family Dollar (FDO -1.52%) was downgraded to 'Hold' from 'Buy' at Jefferies.
Comerica (CMA -1.09%) reported Q4 EPS of 82 cents, better than consensus of 77 cents.
SunTrust Banks (STI -1.77%) reported Q4 EPS of 88 cents, higher than consensus of 80 cents.
The WSJ reported that British Petroleum (BP +0.17%) may pay up to $13.7 billion in fines for the 2010 Deepwater Horizon Gulf spill case.
Time Warner (TWX +0.04%) was downgraded to 'Hold' from 'Buy' at Stifel.
Viacom (VIAB -1.95%) was initiated with a 'Buy' at Stifel with a price target of $89.
21st Century Fox (FOXA -0.77%) was initiated with a 'Buy' at Stifel with a price target of $41.
GrubHub (GRUB -1.98%) was initiated with a 'Buy' at Stifel with a price target of $46.
Target (TGT +1.80%) was upgraded to 'Neutral' from 'Underperform' at BofA/Merrill Lynch.
Schlumberger (SLB -2.25%) reported Q4 adjusted EPS of $1.50, higher than consensus of $1.46, although Q4 revenue of $12.6 billion was less than consensus of $12.72 billion. Schlumberger then said it plans to cut 9,000 jobs in 2015.
Roundy's (RNDY -5.29%) lowered guidance on Q1 EPS to -5 cents to zero, weaker than consensus of 3 cents, and then cut guidance on full-year fiscal 2015 EPS to a loss of -18 cents to -7 cents, well below consensus of 6 cents.
Intel (INTC -0.44%) reported Q4 EPS of 74 cents, better than consensus of 66 cents, but then said Q1 revenue would be $13.7 billion, plus or minus $500 million, which is less than consensus of $13.77 billion.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 -0.54%) this morning are down -3.00 points (-0.15%) and posted a 4-week low. The S&P 500 index on Thursday closed lower: S&P 500 -0.92%, Dow Jones -0.61%, Nasdaq -1.36%. Bearish factors included (1) the unexpected +19,000 increase in U.S. weekly unemployment claims to a 4-month high of 316,000, more than expectations for a -4,000 decline to 290,000, (2) the -18.0 point plunge in the Jan Philadelphia Fed business outlook survey to 6.3, weaker than expectations of -5.8 to 18.7 and the lowest in 11 months, and (3) a slide in U.S. bank stocks after Citigroup, Bank of America and JPMorgan Chase reported the worst combined quarterly trading revenue since 2011.
Mar 10-year T-notes (ZNH15 +0.28%) this morning are up +8 ticks. Mar 10-year T-note futures prices on Thursday posted a new contract high and closed higher. Closes: TYH5 +18.50, FVH5 +12.50. Bullish factors included (1) the end of the Swiss National Bank’s exchange-rate cap against the euro, which roiled global stock and currency markets and boosted safe-haven demand for T-notes, (2) the unexpected increase in U.S. weekly jobless claims to a 4-month high, and (3) the larger-than-expected decline in the Jan Philadelphia Fed business outlook survey to an 11-month low.
The dollar index (DXY00 +0.16%) this morning is up +0.119 (+0.13%). EUR/USD (^EURUSD) is down -0.0046 (-0.40%). USD/JPY (^USDJPY) is up +0.53 (+0.46%). The dollar index on Thursday surged to an 11-year high and closed higher: Dollar index +0.191 (+0.21%), EUR/USD -0.01586 (-1.35%), USD/JPY -1.17 (-1.00%). Bullish factors included (1) the plunge in EUR/USD to an 11-year low after the Swiss National Bank ended its 3-year minimum exchange rate of 1.20 franc per euro, and (2) improved dollar interest rate differentials versus the euro on expectations for the ECB to announce QE when it meets next Thursday.
Feb WTI crude oil (CLG15 +2.21%) this morning is up +$1.26 a barrel (+2.72%) and Feb gasoline (RBG15 +1.47%) is up +0.0286 (+2.20%). Feb crude oil and Feb gasoline on Thursday climbed to 1-week highs but relinquished their gains and closed lower: CLG5 -2.23 (-4.60%), RBG5 -0.0512 (-3.79%). Bearish factors included (1) the rally in the dollar index to an 11-year high, (2) OPEC’s cut in its 2015 global demand forecast for its crude to 28.8 million bpd, -100,000 bpd less than last month’s forecast.
GLOBAL EVENT CALENDAR01/16/2015
US0830 ETDec CPI expected -0.4% m/m and +0.7% y/y, Nov -0.3% m/m and +1.3% y/y. Dec CPI ex food & energy expected +0.1% m/m and +1.7% y/y, Nov +0.1% m/m and +1.7% y/y.
0815 ETDec industrial production expected -0.1% m/m, Nov +1.3% m/m. Dec capacity utilization expected -0.2 to 79.9%, Nov +0.8 to 80.1%.
0850 ETMinneapolis Fed President Narayana Kocherlakota delivers a Goal-Based Monetary Policy Report and speaks on the economy to the Financial Planners Association of Minnesota.
0955 ETPreliminary U.S. Jan University of Michigan consumer confidence expected +0.5 to 94.1, Dec +4.8 to 93.6.
1100 ETSan Francisco Fed President John Williams gives opening remarks and does an audience Q&A for the Bay Area Council Economic Institute 8th Annual Forecast.
EUR0200 ETEurozone Dec new car registrations, Nov +1.4% y/y.
0500 ETRevised Eurozone Dec CPI, previous -0.2% y/y and core CPI +0.8% y/y.
GER0200 ETRevised German Dec CPI (EU harmonized), previous +0.1% m/m and +0.1% y/y.
U.S. STOCK CALENDAR01/16/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
PNC Financial Services Group Inc/ThePNC USBef-mktQ4 2014 Earnings ReleaseQ4 20141.733
SunTrust Banks IncSTI US6:00Q4 2014 Earnings ReleaseQ4 20140.803
Comerica IncCMA US6:40Q4 2014 Earnings ReleaseQ4 20140.77
Goldman Sachs Group Inc/TheGS US7:30Q4 2014 Earnings ReleaseQ4 20144.357
Schlumberger LtdSLB US8:00Q4 2014 Earnings CallQ4 2014
SunTrust Banks IncSTI US8:00Q4 2014 Earnings CallQ4 2014
Comerica IncCMA US9:00Q4 2014 Earnings CallQ4 2014
Goldman Sachs Group Inc/TheGS US9:30Q4 2014 Earnings CallQ4 2014
PNC Financial Services Group Inc/ThePNC US10:00Q4 2014 Earnings CallQ4 2014
Charles Schwab Corp/TheSCHW USQ4 2014 Earnings ReleaseQ4 20140.244
Posted by Jim Van Meerten at No comments:
Labels: , , , , , , , , , , , , , , , ,
Subscribe to: Posts (Atom)