Showing posts with label HES. Show all posts
Showing posts with label HES. Show all posts

Wednesday, February 10, 2016

MORNING CALL 2/10

MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +1.01%) are up +1.03% and European stocks are up +2.67% as crude oil (CLH16 +2.18%) rallied +1.65% and bank stocks climbed. Bank of America, Citigroup and Morgan Stanley were all up at least 1.5% in pre-market trading ahead of Fed Chair Yellen's testimony on the economy to the House Financial Services Committee later this morning. Technology stocks are also higher, as Amazon.com, Facebook and Netflix were all up at least 2% in pre-market trading. European bank stocks also rallied to lead European stocks higher with Commerzbank AG up over 8% and Deutsche Bank AG surged 13% on reports that Germany's biggest bank was considering a share buyback, which eased concern about its funds. Asian stocks settled lower: Japan -2.31%, Australia -1.17%, Singapore -1.57%, India -1.09%. Hong Kong, China, Taiwan and South Korea were all closed for holiday. Japan's Nikkei Stock Index tumbled to a 1-1/4 year low as strength in the yen undercut exporter stocks along with concern that margin calls were generating forced selling of stocks.
The dollar index (DXY00 +0.06%) is up +0.07%. EUR/USD (^EURUSD) is down -0.34%. USD/JPY (^USDJPY) is down -0.11%.
Mar T-note prices (ZNH16 -0.18%) are down -7.5 ticks.
UK Dec industrial production fell -1.1% m/m, weaker than expectations of -0.1% m/m and the largest monthly decline in 3-1/4 years. Dec manufacturing production unexpectedly fell -0.2% m/m, weaker than expectations of +0.1% m/m and the third consecutive decline.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.6% with purchase sub-index -7.0% and refi sub-index +0.3%), (2) Fed Chair Janet Yellen's testimony before the House Financial Services Committee to deliver the Fed’s semi-annual monetary policy report to Congress, (3) the Treasury's auction of $23 billion of 10-year T-notes, and (4) Jan monthly budget statement (expected +$10.1 billion, Dec -$14.444 billion).
There are 19 of the S&P 500 companies that report earnings today with notable reports including: Cisco (consensus $0.54), Time Warner (1.00), Humana (1.45), Whole Foods (0.40), Expedia (1.00), Prudential Financial (2.30).
U.S. IPO's scheduled to price today: Avexis (AVXS), Proteostasis Therapeutics (PTI), Advanced Disposal Services (ADSW).
Equity conferences during the remainder of this week include: Credit Suisse Financial Services Forum on Tue-Wed, Stifel Nicolaus Transportation and Logistics Conference on Tue-Wed, Goldman Sachs Technology and Internet Conference on Tue-Thu, Bank Of America Merrill Lynch Insurance Conference on Wed-Thu, BB&T Capital Markets Transportation Services Conference on Wed-Thu, Leerink Partners Global Health Care Conference on Wed-Thu, Morgan Stanley Chemicals Corporate Access Day on Thu.



OVERNIGHT U.S. STOCK MOVERS
Time Warner (TWX -6.08%) reported Q4 EPS of $1.06, higher than consensus of $1.00.
Dean Foods (DF +0.26%) was upgraded to 'Buy' from 'Hold' at BB&T with a price target of $22.
Hess Corp. (HES -0.74%) was upgraded to 'Conviction Buy' from 'Hold' at Goldman Sachs.
Disney (DIS +0.22%) fell over 3% in pre-market trading after it reported Q1 adjusted EPS of $1.63, above consensus of $1.45, but reported a -6% decline in networks operating income for Q1, driven by a decline in subscribers from ESPN and lower advertising revenue from A&E.
Akamai (AKAM -3.44%) surged over 12% in after-hours trading after it reported Q4 adjusted EPS of 72 cents, higher than consensus of 62 cents, and then said its board authorized a new $1 billion share buyback plan.
Seattle Genetics (SGEN -1.06%) slid over 4% in after-hours trading after it lowered guidance on 2016 Adcetris sales to $255 million-$275 million, below consensus of $291.3 million.
Nuance Communications (NUAN -1.40%) rose nearly 7% in after-hours trading after it reported Q1 adjusted EPS of 36 cents, higher than consensus of 33 cents.
Paycom Software (PAYC -7.18%) jumped over 10% in after-hours trading after it reported Q4 adjusted EPS of 10 cents, higher than consensus of 8 cents, and then raised guidance on Q1 revenue to $82 million-$84 million, above consensus of $74.6 million.
Computer Sciences (CSC +0.33%) reported Q3 adjusted EPS continuing operations of 71 cents, better than consensus of 68 cents.
SolarCity (SCTY -5.69%) slumped 30% in after-hours trading after it lowered guidance on Q1 adjusted EPS to a loss of -$2.55 to -$2.65, a much wider loss than expectations of -$2.06.
Berkshire Partners reported a 10.4% stake in Mattress Firm (MFRM -4.08%) .
Empire District Electric (EDE +0.57%) jumped nearly 15% in after-hours trading after Algonquin Power & Utilities acquired the company for $2.4 billion.
Standard & Poor's cut the credit rating of Chesapeake Energy (CHK -4.41%) by one level to ccc, saying its debt is "unsustainable."
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +1.01%) this morning are up +19.00 points (+1.03%). Tuesday's closes: S&P 500 -.07%, Dow Jones -0.08%, Nasdaq -0.32%. The S&P 500 on Tuesday closed lower on negative carryover from a fall in European stocks to a 2-1/3 year low, a sell-off in bank stocks on concern the recent plunge in crude prices will force some oil producers and oil service companies into default, and concern that the global economic slowdown may deepen after German Dec industrial production unexpectedly fell -1.2% m/m, the biggest decline in 16 months. Losses were limited after the U.S. Dec JOLTS job openings unexpectedly rose +261,000 to 5.607 million, stronger than expectations of -18,000 to 5.413 million and the most in 5 months.
Mar 10-year T-notes (ZNH16 -0.18%) this morning are down -7.5 ticks. Tuesday's closes: TYH6 +0.50, FVH6 -0.75. Mar T-notes on Tuesday posted a new contract high but fell back and closed little changed. T-notes found support from increased safe-haven demand for T-notes as stocks prices declined and from reduced inflation expectations as the 10-year breakeven inflation expectations rate fell to a 6-3/4 year low. T-notes fell back from their best levels after the U.S. Dec JOLTS job openings unexpectedly rose to the highest in 5 months, a sign of labor market strength.
The dollar index (DXY00 +0.06%) this morning is up +0.069 (+0.07%). EUR/USD (^EURUSD) is down -0.0038 (-0.34%). USD/JPY (^USDJPY) is down-0.13 (-0.11%). Tuesday's closes: Dollar Index -0.499 (-0.52%), EUR/USD +0.010 (+0.89), USD/JPY -0.74 (-0.64%). The dollar index on Tuesday sold off to a 3-1/2 month low and closed lower on weakness in USD/JPY which plunged to a 14-3/4 month low a fall in global stocks fueled safe-haven buying of the yen, and on speculation that the slide in global equity markets will keep the Fed from additional interest rate increases.
Mar crude (CLH16 +2.18%) this morning is up +46 cents (+1.65%) and Mar gasoline (RBH16 +2.57%) is up +0.0186 (+2.07%). Tuesday's closes: CLH6-1.75 (-5.89%), RBH6 -0.0486 (-5.08%). Mar crude oil and gasoline on Tuesday closed sharply lower with Mar crude at a 2-week low and Mar gasoline at a 7-year low. Crude oil prices were undercut by the IEA's cut in its 2016 global crude oil demand forecast to 95.6 million bpd from last month's forecast of 95.7 million bpd, and by expectations for Wednesday's weekly EIA crude inventories to increase by +3.2 million bbl. Energy prices recovered from their worst levels after the dollar index slid to a 3-1/2 month low.
GLOBAL EVENT CALENDAR02/10/2016
US0700 ETWeekly MBA mortgage applications, previous -2.6% with purchase sub-index -7.0% and refi sub-index +0.3%.
1000 ETFed Chair Janet Yellen appears before the House Financial Services Committee to deliver the Feds semi-annual monetary policy report to Congress.
1030 ETEIA Weekly Petroleum Status Report.
1300 ETTreasury auctions $23 billion 10-year T-notes.
1400 ETJan monthly budget statement expected +$42.5 billion, Dec -$14.444 billion.
UK0430 ETUK Dec industrial production expected -0.1% m/m and +1.0% y/y, Nov -0.7% m/m and +0.9% y/y.
0430 ETUK Dec manufacturing production expected +0.1% m/m and -1.4% y/y, Nov -0.4% m/m and -1.2% y/y.
1901 ETUK Jan RICS house price balance expected 52%, Dec 50%.
U.S. STOCK CALENDAR02/10/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Time Warner IncTWX USBef-mktQ4 2015 Earnings ReleaseQ4 20151.003
Henry Schein IncHSIC USBef-mktQ4 2015 Earnings ReleaseQ4 20151.644
DTE Energy CoDTE USBef-mktQ4 2015 Earnings ReleaseQ4 20151
Humana IncHUM US7:30Q4 2015 Earnings ReleaseQ4 20151.453
Sealed Air CorpSEE US7:30Q4 2015 Earnings ReleaseQ4 20150.5
Assurant IncAIZ US8:00Q4 2015 Earnings CallQ4 2015
DTE Energy CoDTE US9:00Q4 2015 Earnings CallQ4 2015
Willis Towers Watson PLCWLTW US9:00Q4 2015 Earnings CallQ4 2015
Henry Schein IncHSIC US10:00Q4 2015 Earnings CallQ4 2015
Sealed Air CorpSEE US10:00Q4 2015 Earnings CallQ4 2015
Time Warner IncTWX US10:30Q4 2015 Earnings CallQ4 2015
Federal Realty Investment TrustFRT US11:00Q4 2015 Earnings CallQ4 2015
Emerson Electric CoEMR US15:00Investor Conference - Day 1Y 2016
Mylan NVMYL US16:30Q4 2015 Earnings CallQ4 2015
Cisco Systems IncCSCO US16:30Q2 2016 Earnings CallQ2 2016
O'Reilly Automotive IncORLY US16:30Q4 2015 Earnings ReleaseQ4 20152.082
Expedia IncEXPE US16:30Q4 2015 Earnings CallQ4 2015
CenturyLink IncCTL US17:00Q4 2015 Earnings CallQ4 2015
Whole Foods Market IncWFM US17:00Q1 2016 Earnings CallQ1 2016
CSRA IncCSRA US17:00Q3 2016 Earnings CallQ3 2016
CenturyLink IncCTL USAft-mktQ4 2015 Earnings ReleaseQ4 20150.65
Equifax IncEFX USAft-mktQ4 2015 Earnings ReleaseQ4 20151.113
FMC CorpFMC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.635
International Flavors & Fragrances IncIFF USAft-mktQ4 2015 Earnings ReleaseQ4 20151.147
Mylan NVMYL USAft-mktQ4 2015 Earnings ReleaseQ4 20151.277
Cisco Systems IncCSCO USAft-mktQ2 2016 Earnings ReleaseQ2 20160.538
Whole Foods Market IncWFM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.399
Prudential Financial IncPRU USAft-mktQ4 2015 Earnings ReleaseQ4 20152.297
Realty Income CorpO USAft-mktQ4 2015 Earnings ReleaseQ4 20150.691
Pioneer Natural Resources CoPXD USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.335
Expedia IncEXPE USAft-mktQ4 2015 Earnings ReleaseQ4 20151.004
CSRA IncCSRA USAft-mktQ2 2016 Earnings ReleaseQ2 20160.54
AGL Resources IncGAS USQ4 2015 Earnings ReleaseQ4 20150.67
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Wednesday, January 27, 2016

MORNING CALL 1/27

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






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

CompanyTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ4 2015 Earnings ReleaseQ4 2015-1.458
Boeing Co/TheBA USBef-mktQ4 2015 Earnings ReleaseQ4 20151.267
General Dynamics CorpGD USBef-mktQ4 2015 Earnings ReleaseQ4 20152.376
Progressive Corp/ThePGR USBef-mktQ4 2015 Earnings ReleaseQ4 20150.463
Progressive Corp/ThePGR USBef-mktQ4 2015 Earnings Release - December SalesQ4 20150.463
Textron IncTXT USBef-mktQ4 2015 Earnings ReleaseQ4 20150.828
United Technologies CorpUTX USBef-mktQ4 2015 Earnings ReleaseQ4 20151.521
Biogen IncBIIB USBef-mktQ4 2015 Earnings ReleaseQ4 20154.072
State Street CorpSTT USBef-mktQ4 2015 Earnings ReleaseQ4 20151.185
Rockwell Automation IncROK USBef-mktQ1 2016 Earnings ReleaseQ1 20161.328
Anthem IncANTM US6:00Q4 2015 Earnings ReleaseQ4 20151.177
EMC Corp/MAEMC US7:00Q4 2015 Earnings ReleaseQ4 20150.648
St Jude Medical IncSTJ US7:15Q4 2015 Earnings ReleaseQ4 20151.011
Illinois Tool Works IncITW US8:00Q4 2015 Earnings ReleaseQ4 20151.205
Norfolk Southern CorpNSC US8:00Q4 2015 Earnings ReleaseQ4 20151.241
Textron IncTXT US8:00Q4 2015 Earnings CallQ4 2015
St Jude Medical IncSTJ US8:00Q4 2015 Earnings CallQ4 2015
Navient CorpNAVI US8:00Q4 2015 Earnings CallQ4 2015
EMC Corp/MAEMC US8:30Q4 2015 Earnings CallQ4 2015
United Technologies CorpUTX US8:30Q4 2015 Earnings CallQ4 2015
Biogen IncBIIB US8:30Q4 2015 Earnings CallQ4 2015
Chubb LtdCB US8:30Q4 2015 Earnings CallQ4 2015
Rockwell Automation IncROK US8:30Q1 2016 Earnings CallQ1 2016
Anthem IncANTM US8:30Q4 2015 Earnings CallQ4 2015
Norfolk Southern CorpNSC US8:45Q4 2015 Earnings CallQ4 2015
CMS Energy CorpCMS US9:00Business Update Call
Walgreens Boots Alliance IncWBA US9:00Annual General MeetingY 2016
Kinder Morgan Inc/DEKMI US9:00Analyst DayY 2016
State Street CorpSTT US9:30Q4 2015 Earnings CallQ4 2015
Hess CorpHES US10:00Q4 2015 Earnings CallQ4 2015
Illinois Tool Works IncITW US10:00Q4 2015 Earnings CallQ4 2015
Boeing Co/TheBA US10:30Q4 2015 Earnings CallQ4 2015
General Dynamics CorpGD US11:30Q4 2015 Earnings CallQ4 2015
Johnson Controls IncJCI US15:00Annual General Meeting
McKesson CorpMCK US16:00Q3 2016 Earnings ReleaseQ3 20163.139
Facebook IncFB US16:00Run TLIV for Top Live Blog
Citrix Systems IncCTXS US16:05Q4 2015 Earnings ReleaseQ4 20151.192
Texas Instruments IncTXN US16:30Q4 2015 Earnings ReleaseQ4 20150.694
eBay IncEBAY US16:30Q4 2015 Earnings CallQ4 2015
QUALCOMM IncQCOM US16:45Q1 2016 Earnings CallQ1 2016
Citrix Systems IncCTXS US16:45Q4 2015 Earnings CallQ4 2015
Varian Medical Systems IncVAR US17:00Q1 2016 Earnings CallQ1 2016
Lam Research CorpLRCX US17:00Q2 2016 Earnings CallC4 2016
Vertex Pharmaceuticals IncVRTX US17:00Q4 2015 Earnings CallQ4 2015
Tractor Supply CoTSCO US17:00Q4 2015 Earnings CallQ4 2015
McKesson CorpMCK US17:00Q3 2016 Earnings CallQ3 2016
Juniper Networks IncJNPR US17:00Q4 2015 Earnings CallQ4 2015
Facebook IncFB US17:00Q4 2015 Earnings CallQ4 2015
Discover Financial ServicesDFS US17:00Q4 2015 Earnings CallQ4 2015
PayPal Holdings IncPYPL US17:00Q4 2015 Earnings CallQ4 2015
Murphy Oil CorpMUR USAft-mktQ4 2015 Earnings ReleaseQ4 2015-1.279
Varian Medical Systems IncVAR USAft-mktQ1 2016 Earnings ReleaseQ1 20160.923
Lam Research CorpLRCX USAft-mktQ2 2016 Earnings ReleaseQ2 20161.423
QUALCOMM IncQCOM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.909
Vertex Pharmaceuticals IncVRTX USAft-mktQ4 2015 Earnings ReleaseQ4 20150.143
Tractor Supply CoTSCO USAft-mktQ4 2015 Earnings ReleaseQ4 20150.817
SanDisk CorpSNDK USAft-mktQ4 2015 Earnings ReleaseQ4 20150.897
SL Green Realty CorpSLG USAft-mktQ4 2015 Earnings ReleaseQ4 20151.606
United Rentals IncURI USAft-mktQ4 2015 Earnings ReleaseQ4 20152.332
Crown Castle International CorpCCI USAft-mktQ4 2015 Earnings ReleaseQ4 20151.11
eBay IncEBAY USAft-mktQ4 2015 Earnings ReleaseQ4 20150.497
Juniper Networks IncJNPR USAft-mktQ4 2015 Earnings ReleaseQ4 20150.595
Ameriprise Financial IncAMP USAft-mktQ4 2015 Earnings ReleaseQ4 20152.348
Facebook IncFB USAft-mktQ4 2015 Earnings ReleaseQ4 20150.678
Discover Financial ServicesDFS USAft-mktQ4 2015 Earnings ReleaseQ4 20151.301
PayPal Holdings IncPYPL USAft-mktQ4 2015 Earnings ReleaseQ4 20150.345
Texas Instruments IncTXN US17:30Q4 2015 Earnings CallQ4 2015
Cisco Systems IncCSCO USITC Due to Release Findings in Cisco Systems vx. Arista Networks Patent Case
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Wednesday, October 28, 2015

BARCHART MORNING CALL 10/28

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.23%) are up +0.19% and European stocks are up +0.65% as Apple climbed nearly 2% in pre-market trading after reporting better-than-expected quarterly profits late yesterday. The markets also await the Fed's interest rate announcement later today as to whether there will be an interest rate increase this year. European stocks also garnered support from a decline in the German 10-year bund yield to a 5-1/2 month low of 0.431% on the prospects of additional ECB easing after comments from ECB Executive Board member Coeure who said have been "lively" discussions within the ECB about additional measures to promote growth and boost inflation. Asian stocks settled mostly lower: Japan +0.67%, Hong Kong -0.80%, China -1.72%, Taiwan -0.41%, Australia -0.20%, Singapore -0.39%, South Korea -0.10%, India -0.78%. China's Shanghai Composite fell on growth concerns after the Oct Westpac-MNI consumer sentiment fell to a record low and after UBS cut its China 2016 GDP forecast to 6.2% from 6.5%. Japanese stocks were the only bright spot in Asian markets as the Nikkei Stock Index closed higher on speculation the BOJ will increase stimulus when it meets this Thursday and Friday.
The dollar index (DXY00 -0.17%) is down -0.14%. EUR/USD (^EURUSD) is up +0.14%. USD/JPY (^USDJPY) is down -0.11%.
Dec T-note prices (ZNZ15 -0.07%) are down -2 ticks.
ECB Executive Board member Coeure said that the risks have increased that inflation will remain below the ECB's goal of 2.0% and that warrants vigilance from policy makers. He added that there have been "lively" discussions within the ECB of whether the deposit rate could be lowered from its current -0.2%or about expanding asset purchases.
The China Oct Westpac-MNI consumer sentiment fell -8.5 to 109.7, the lowest since the data series began in 2007.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +11.8% with purchase mortgage sub-index +16.4% and refi sub-index +8.8%), (2) the Treasury's auction of $15 billion of 2-year floating rate notes and $35 billion of 5-year T-notes, and (3) the FOMC's interest rate decision after its 2-day meeting concludes.
There are 44 of the S&P 500 companies that report earnings today with notable reports including: PayPal Holdings (consensus $0.29), Valero Energy (2.66), ICE Exchange (2.92), Walgreens (0.81), Hess Corp (-1.20), ADP (0.65%), General Dynamics (2.13), Northrop Grumman (2.19), Amgen (2.38), Murphy Oil *-0.93), Newmont Mining (0.17), Willaims Copmanies (0.18),
U.S. IPO's scheduled to price today: Optex Systems MyoKardia (MYOK).
Equity conferences during the remainder of this week include: Money20/20 Conference on Mon-Wed.



OVERNIGHT U.S. STOCK MOVERS
Apple (AAPL -0.63%) climbed 2% in pre-market trading after it reported Q4 EPS of $1.96, higher than consensus of $1.88.
Hewlett Packard Enterprise ({=HPE-W=}) rose nearly 3% in after-hours trading when it was reported that it will replace Hudson City Bancorp in the S&P 500 after the close of trading on Friday, Oct 30.
Intercontinental Exchange (ICE +3.36%) reported Q3 EPS of $2.91, below consensus of $2.92.
Twitter (TWTR +1.46%) dropped over 10% in pre-market trading after it reported adjusted Q3 EPS of 10 cents, double consensus of 5 cents, but then lowered guidance on Q4 revenue to $695 million to $710 million, below consensus of $748.6 million.
Gilead Sciences (GILD +2.14%) fell almost 2% in after-hours trading after it reported Q3 EPS of $3.22, well ahead of consensus of $2.88, but said it sees 2015 fiscal sales of $30 billion-$31 billion, below consensus of $31.5 billion.
Valero Energy (VLO +0.90%) reported Q3 EPS of $2.79, higher than consensus of $2.66.
Walgreens Boots Alliance (WBA +6.35%) reported Q4 EPS of 88 cents, better than consensus of 81 cents.
NCR Corp. (NCR -6.92%) rose nearly 2% in after-hours trading after it reported adjusted Q3 EPS of 78 cents, above consensus of 70 cents, and then raised guidance on fiscal 2015 EPS to $2.70-$2.80 from an earlier forecast of $2.60-$2.80, above consensus of $2.68.
Akamai (AKAM +0.24%) fell over 7% in after-hours trading after it reported adjusted Q3 EPS of 62 cents, above consensus of 57 cents, but then lowered guidance on Q4 EPS to 60 cents-64 cents, below consensus of 65 cents.
Northrop Grumman (NOC +0.17%) jumped over 8% in after-hours trading after the U.S. Air Force announced that it chose NOC to build the next-generation long-range strike bomber, beating out rivals Boeing and Lockheed Martin. The contract may be worth up to $80 billion if all 100 planes are built.
Infinera (INFN +0.05%) jumped 8% in after-hours trading after it reported adjusted Q3 EPS of 22 cents, higher than consensus of 18 cents.
Zeltiq Aesthetics (ZLTQ +3.54%) climbed 2% in after-hours trading after it reported Q3 EPS of 5 cents, better than consensus of a -5 cent loss, and then raised guidance on fiscal 2015 revenue to $252 million from a previous estimate of $245 million-$247 million, above consensus of $247.2 million.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.23%) this morning are up +4.00 points (+0.19%). Tuesday's closes: S&P 500 -0.25%, Dow Jones -0.24%, Nasdaq +0.18%. The S&P 500 index on Tuesday closed lower on signs of weak capital spending after Sep capital goods orders non-defense ex-aircraft unexpectedly fell-0.3% (vs expectations of +0.2%) and on the -5.0 point decline in U.S. Oct consumer confidence to 97.6 (vs expectations of -0.2 to 102.8). There were also some concerns that the FOMC in its post-meeting statement on Wednesday might adopt less dovish language to allow for a December rate hike, although the FOMC is unanimously expected to leave interest rates unchanged.
Dec 10-year T-notes (ZNZ15 -0.07%) this morning are down -2 ticks. Tuesday's closes: TYZ5 +10.50, FVZ5 +6.75. Dec T-notes on Tuesday settled higher on carryover support from a rally in German bunds to a 5-1/2 month high, the larger-than-expected -5.0 point decline in U.S. Oct consumer confidence, and increased safe-haven demand with the sell-off in stocks.
The dollar index (DXY00 -0.17%) this morning is down -0.139 (-0.14%). EUR/USD (^EURUSD) is up +0.0016 (+0.14%). USD/JPY (^USDJPY) is down-0.13 (-0.11%). Tuesday's closes: Dollar Index +0.045 (+0.05%), EUR/USD -0.0007 (-0.06%), USD/JPY -0.64 (-0.53%). The dollar index on Tuesday settled higher on weakness in GBP/USD, which fell to a 1-1/2 week low after UK Q3 GDP grew at a slower-than-expected pace. In addition, EUR/USD saw weakness on ECB Governing Council member Nowotny's comment that the Eurozone is "still in this situation of very low inflation rates," which bolstered speculation that the ECB may expand QE.
Dec crude oil (CLZ15 +0.88%) this morning is up +34 cents (+0.79%) and Dec gasoline (RBZ15 +0.91%) is up +0.0088 (+0.69%). Tuesday's closes: CLZ5-0.59 (-1.34%), RBZ5 -0.0018 (-0.14%). Dec crude oil and gasoline on Tuesday closed lower with Dec crude at a 2-month low. Crude oil prices were undercut by the stronger dollar, the sharp -5.0 point drop in U.S. consumer confidence, and expectations for Wednesday's weekly EIA report to show that crude inventories rose by +3.5 million bbl.

GLOBAL EVENT CALENDAR10/28/2015
US0700 ETWeekly MBA mortgage applications, previous +11.8% with purchase mortgage sub-index +16.4% and refi sub-index +8.8%.
0730 ETSep advance U.S. goods trade deficit expected -$64.3 billion, Aug -$66.6 billion.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $15 billion 2-year floating rate notes.
1300 ETTreasury auctions $35 billion 5-year T-notes.
1400 ETFOMC interest rate decision.
GER0300 ETGerman Nov GfK consumer confidence expected -0.2 to 9.4, Oct 9.6.
0300 ETGerman Sep import price index expected -0.2% m/m and -3.5% y/y, Aug -1.5% m/m and -3.1% y/y.
EUR0515 ETECB Executive Board member Peter Praet speaks on a panel discussion on What Challenges High Public Debts Pose for Monetary Policy at a banking conference in Riga, Latvia.
1045 ETECB Vice President Vitor Constancio delivers keynote speech on Macroprudential Policy in Europe: Ensuring Financial Stability in a Banking and Capital Markets Union at a conference in Berlin.
JPN1950 ETJapan Sep industrial production expected -0.6% m/m and -2.6% y/y, Aug -1.2% m/m and -0.4% y/y.
U.S. STOCK CALENDAR10/28/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ3 2015 Earnings ReleaseQ3 2015-1.197
Automatic Data Processing IncADP USBef-mktQ1 2016 Earnings ReleaseQ1 20160.652
Boston Scientific CorpBSX USBef-mktQ3 2015 Earnings ReleaseQ3 20150.225
NextEra Energy IncNEE USBef-mktQ3 2015 Earnings ReleaseQ3 20151.649
General Dynamics CorpGD USBef-mktQ3 2015 Earnings ReleaseQ3 20152.127
Hershey Co/TheHSY USBef-mktQ3 2015 Earnings ReleaseQ3 20151.124
International Paper CoIP USBef-mktQ3 2015 Earnings ReleaseQ3 20150.88
Northrop Grumman CorpNOC USBef-mktQ3 2015 Earnings ReleaseQ3 20152.194
Occidental Petroleum CorpOXY USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.003
PG&E CorpPCG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.955
AutoNation IncAN USBef-mktQ3 2015 Earnings ReleaseQ3 20151.058
Level 3 Communications IncLVLT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.46
Valero Energy CorpVLO USBef-mktQ3 2015 Earnings ReleaseQ3 20152.664
Garmin LtdGRMN USBef-mktQ3 2015 Earnings ReleaseQ3 20150.519
Intercontinental Exchange IncICE USBef-mktQ3 2015 Earnings ReleaseQ3 20152.919
TE Connectivity LtdTEL USBef-mktQ4 2015 Earnings ReleaseQ4 20150.922
Anthem IncANTM US6:00Q3 2015 Earnings ReleaseQ3 20152.325
Starwood Hotels & Resorts Worldwide IncHOT US6:30Q3 2015 Earnings ReleaseQ3 20150.718
Walgreens Boots Alliance IncWBA US7:00Q4 2015 Earnings ReleaseQ4 20150.813
DENTSPLY International IncXRAY US7:00Q3 2015 Earnings ReleaseQ3 20150.634
National Oilwell Varco IncNOV US7:00Q3 2015 Earnings ReleaseQ3 20150.556
Southern Co/TheSO US7:30Q3 2015 Earnings ReleaseQ3 20151.162
FLIR Systems IncFLIR US7:30Q3 2015 Earnings ReleaseQ3 20150.412
Boston Scientific CorpBSX US8:00Q3 2015 Earnings CallQ3 2015
Norfolk Southern CorpNSC US8:00Q3 2015 Earnings ReleaseQ3 20151.414
Owens-Illinois IncOI US8:00Q3 2015 Earnings CallQ3 2015
Mondelez International IncMDLZ US8:00Q3 2015 Earnings ReleaseQ3 20150.406
Assurant IncAIZ US8:00Q3 2015 Earnings CallQ3 2015
Automatic Data Processing IncADP US8:30Q1 2016 Earnings CallQ1 2016
Hershey Co/TheHSY US8:30Q3 2015 Earnings CallQ3 2015
Walgreens Boots Alliance IncWBA US8:30Q4 2015 Earnings CallQ4 2015
Express Scripts Holding CoESRX US8:30Q3 2015 Earnings CallQ3 2015
DENTSPLY International IncXRAY US8:30Q3 2015 Earnings CallQ3 2015
CH Robinson Worldwide IncCHRW US8:30Q3 2015 Earnings CallQ3 2015
Anthem IncANTM US8:30Q3 2015 Earnings CallQ3 2015
Intercontinental Exchange IncICE US8:30Q3 2015 Earnings CallQ3 2015
TE Connectivity LtdTEL US8:30Q4 2015 Earnings CallQ4 2015
Verisk Analytics IncVRSK US8:30Q3 2015 Earnings CallQ3 2015
Norfolk Southern CorpNSC US8:45Q3 2015 Earnings CallQ3 2015
Aflac IncAFL US9:00Q3 2015 Earnings CallQ3 2015
Anadarko Petroleum CorpAPC US9:00Q3 2015 Earnings CallQ3 2015
NextEra Energy IncNEE US9:00Q3 2015 Earnings CallQ3 2015
General Dynamics CorpGD US9:00Q3 2015 Earnings CallQ3 2015
International Paper CoIP US9:00Q3 2015 Earnings CallQ3 2015
Parker-Hannifin CorpPH US9:00Annual General MeetingY 2015
Universal Health Services IncUHS US9:00Q3 2015 Earnings CallQ3 2015
National Oilwell Varco IncNOV US9:00Q3 2015 Earnings CallQ3 2015
Hess CorpHES US10:00Q3 2015 Earnings CallQ3 2015
Level 3 Communications IncLVLT US10:00Q3 2015 Earnings CallQ3 2015
Mondelez International IncMDLZ US10:00Q3 2015 Earnings CallQ3 2015
Garmin LtdGRMN US10:30Q3 2015 Earnings CallQ3 2015
Occidental Petroleum CorpOXY US11:00Q3 2015 Earnings CallQ3 2015
PG&E CorpPCG US11:00Q3 2015 Earnings CallQ3 2015
Cincinnati Financial CorpCINF US11:00Q3 2015 Earnings CallQ3 2015
AutoNation IncAN US11:00Q3 2015 Earnings CallQ3 2015
FLIR Systems IncFLIR US11:00Q3 2015 Earnings CallQ3 2015
Valero Energy CorpVLO US11:00Q3 2015 Earnings CallQ3 2015
Northrop Grumman CorpNOC US11:45Q3 2015 Earnings CallQ3 2015
Starwood Hotels & Resorts Worldwide IncHOT US13:00Q3 2015 Earnings CallQ3 2015
Southern Co/TheSO US13:00Q3 2015 Earnings CallQ3 2015
Macerich Co/TheMAC US13:30Q3 2015 Earnings CallQ3 2015
Realty Income CorpO US16:00Q3 2015 Earnings ReleaseQ3 20150.697
F5 Networks IncFFIV US16:00Q4 2015 Earnings ReleaseQ4 20151.745
O'Reilly Automotive IncORLY US16:30Q3 2015 Earnings ReleaseQ3 20152.38
F5 Networks IncFFIV US16:30Q4 2015 Earnings CallQ4 2015
Hanesbrands IncHBI US16:30Q3 2015 Earnings CallQ3 2015
Varian Medical Systems IncVAR US17:00Q4 2015 Earnings CallQ4 2015
Western Digital CorpWDC US17:00Q1 2016 Earnings CallQ1 2016
Amgen IncAMGN US17:00Q3 2015 Earnings ReleaseQ3 20152.383
Amgen IncAMGN US17:00Q3 2015 Earnings CallQ3 2015
Vertex Pharmaceuticals IncVRTX US17:00Q3 2015 Earnings CallQ3 2015
Marriott International Inc/MDMAR US17:00Q3 2015 Earnings ReleaseQ3 20150.743
PayPal Holdings IncPYPL US17:00Q3 2015 Earnings CallQ3 2015
FMC CorpFMC USAft-mktQ3 2015 Earnings ReleaseQ3 20150.381
Lincoln National CorpLNC USAft-mktQ3 2015 Earnings ReleaseQ3 20151.524
Murphy Oil CorpMUR USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.93
Newmont Mining CorpNEM USAft-mktQ3 2015 Earnings ReleaseQ3 20150.174
Public StoragePSA USAft-mktQ3 2015 Earnings ReleaseQ3 20152.262
Tesoro CorpTSO USAft-mktQ3 2015 Earnings ReleaseQ3 20156.081
Unum GroupUNM USAft-mktQ3 2015 Earnings ReleaseQ3 20150.904
Varian Medical Systems IncVAR USAft-mktQ4 2015 Earnings ReleaseQ4 20151.02
Williams Cos Inc/TheWMB USAft-mktQ3 2015 Earnings ReleaseQ3 20150.177
Range Resources CorpRRC USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.047
Vertex Pharmaceuticals IncVRTX USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.312
Equinix IncEQIX USAft-mktQ3 2015 Earnings ReleaseQ3 20153.064
Hanesbrands IncHBI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.449
PayPal Holdings IncPYPL USAft-mktQ3 2015 Earnings ReleaseQ3 20150.289
Equinix IncEQIX US17:30Q3 2015 Earnings CallQ3 2015
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