Showing posts with label HIG. Show all posts
Showing posts with label HIG. Show all posts

Tuesday, May 17, 2016

MORNING CALL 5/17

MORNING CALL

OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 -0.10%) are little changed, down -0.05% and European stocks are up +0.12% as the price of crude oil rose to a 7-month high. Crude oil retreated from that high and is now unchanged in early trade, which pulled stocks back from their best levels. Home Depot rose over 1% in pre-market trading and gave recently battered retail stocks a lift after it raised guidance on its full-year EPS this year to $6.27, higher than expectations of $6.22. European stocks also received a boost from a rally in telecommunication stocks, led by a 2.4% gain in Vodafone Group Plc, after the company reported Q1 adjusted service revenue rose +1.8%, better than consensus of +1.5%. Asian stocks settled mostly higher: Japan +1.13%, Hong Kong +1.18%, China -0.25%, Taiwan +0.90%, Australia +0.69%, Singapore +1.65%, South Korea +0.09%, India +0.47%.
The dollar index (DXY00 unch) is down -0.02%. EUR/USD (^EURUSD) is down -0.04%. USD/JPY (^USDJPY) is up +0.47% at a 2-week high.
Jun T-note prices (ZNM16 -0.05%) are down -1.5 ticks.
In its monthly report published today, the Bundesbank said "growth in the German economy will probably lose momentum in the spring," even as the "solid underlying economic trend" is likely to stay intact.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Key U.S. reports today include: (1) Apr housing starts (expected +3.3% to 1.125 million, Mar -8.8% at 1.089 million), (2) Apr CPI (expected +0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.9% y/y; Apr core CPI expected +0.2% m/m and +2.1% y/y, Mar +0.1% m/m and +2.2% y/y), (3) Apr industrial production (expected +0.3%, Mar -0.6%), and (4) San Francisco Fed President John Williams (non-voter) and Atlanta Fed President Dennis Lockhart (non-voter) interview on the U.S. economic outlook.
There are 2 of the Russell 1000 companies that report earnings today: Home Depot (consensus $1.35), TJX (0.71).
U.S. IPO's scheduled to price today: PhaseRX (PZRX)
Equity conferences today: Electrical Products Group Investor Conference on Mon-Wed, Bank of America Merrill Lynch Transportation Conference on Tue, Goldman Sachs Basic Materials Conference on Tue-Wed, Barclays Americas Select Franchise Conference on Tue-Wed, CBI's Life Sciences IT Governance and Cybersecurity Summit on Tue-Wed, Barclays Insurance Forum on Wed, MoffettNathanson Media and Communications Conference on Wed, BMO Capital Markets Farm to Market Conference on Wed-Thu, Citi Car of the Future Symposium on Thu, ITG Global Industrials Conference on Thu, Needham Emerging Technology Conference Thu, Business Analytics Innovation Summit on Thu-Fri, Medical Affairs Summit on Fri.

OVERNIGHT U.S. STOCK MOVERS
Hartford Financial Services Group (HIG -0.32%) was downgraded to 'Market Perform' from 'Outperform' at Wells Fargo Securities.
Home Depot (HD +1.66%) climbed over 1% in pre-market trading after it reported Q1 EPS of $1.44, higher than consensu sof $1.35, and then raised guidance on full-year EPS to $6.27 from a previous view of $6.12-$6.18.
Freeport-McMoRan (FCX +6.05%) is up over 3% in pre-market trading after Jeffries Group upgraded toe stock to 'Buy' from 'Hold.'
Bob Evans Farms (BOBE +0.43%) was rated a new 'Buy' at Maxim Group with a 12-month price target of $59.
Agilent Technologies (A +0.75%) climbed nearly 4% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $1.88-$1.92 from a March 7 estimate of $1.81-$1.87, above consensus of $1.86.
Office Depot (ODP -5.16%) gained over 2% in after-hours trading after the company hired Bain for a strategic review of its business.
Relypsa (RLYP +4.07%) dropped over 7% in after-hours trading after it reported no increase in April in the weekly average of new patients who began taking Veltassa with a free starter supply.
Amplify Snack Brands (BETR +0.39%) slid over 4% in after-hours trading after it started a 10-million share secondary offering of common stock.
Community Health Systems (CYH +2.00%) climbed nearly 4% in after-hours trading after Greenlight Capital Holdings reported a new stake in the company in Q1.
Akorn (AKRX +4.94%) rose over 1% in after-hours trading after it reported Q1 revenue of $268.3 million, better than consensus of $267.1 million.
Meritage Homes (MTH +0.77%) gained over 2% in after-hours trading after it said it sees Q2 EPS of 78 cents-85 cents, higher than consensus of 78 cents.
Globalstar (GSAT +12.24%) rose over 5% in after-hours trading after Greenlight Capital Holdings reported a new stake in the company in Q1.
Aegerion Pharmaceuticals (AEGR +33.53%) dropped over 13% in after-hours trading after it lowered guidance on full-year sales to $130 million-$150 million from a prior view of $160 million-$190 million, below consensus of $174.8 million.
MARKET COMMENTS
June E-mini S&Ps (ESM16 -0.10%) this morning are down -1.00 point (-0.05%). Monday's closes: S&P 500 +0.98%, Dow Jones +1.00%, Nasdaq +1.25%. The S&P 500 on Monday closed higher on strength in energy producer stocks after crude oil climbed to a 6-1/2 month high and on a rally in drug stocks on increased M&A activity after Pfizer agreed to buy Amacor Pharmaceuticals for $5.2 billion. Stocks were undercut by the -18.58 point plunge in the U.S. May Empire manufacturing index to -9.02, weaker than expectations of -3.56 to 6.50.
June 10-year T-note prices (ZNM16 -0.05%) this morning are down -1.5 ticks. Monday's closes: TYM6 -14.50, FVM6 -8.75. Jun T-notes on Monday closed lower on reduced safe-haven demand with the rally in stocks and on increased inflation expectations after crude oil rallied to a 6-1/2 month high.
The dollar index (DXY00 unch) this morning is down -0.023 (-0.02%). EUR/USD (^EURUSD) is down -0.0004 (-0.04%). USD/JPY (^USDJPY) is up +0.51 (+0.47%) at a 2-week high. Monday's closes: Dollar Index -0.036 (-0.04%), EUR/USD +0.0012 (+0.11%), USD/JPY +0.40 (+0.37%). The dollar index on Monday closed lower on strength in the currencies of the crude-producing countries of Russia and Canada after the price of crude soared to a 6-1/2 month high and on the weaker-than-expected May Empire manufacturing index and May HAHB housing market index.
June WTI crude oil (CLM16 unch) this morning is unchanged. June gasoline (RBM16 -0.26%) is down -0.0044 (-0.27%). Monday's closes: CLM6 +1.51 (+3.27%), RBM6 +0.0181 (+1.14%). Jun crude and gasoline on Monday closed higher with Jun crude at a 6-1/2 month high and Jun gasoline at an 8-1/2 month high. Crude oil prices were boosted by a weaker dollar, Chinese demand with the +2.4% y/y rise in China Apr crude processing to a record 10.93 million bpd, and stronger U.S. refinery demand for gasoline after the crack spread climbed to a 1-1/2 week high.
GLOBAL EVENT CALENDAR05/17/2016
US0830 ETApr housing starts expected +3.3% to 1.125 million, Mar -8.8% at 1.089 million. Apr building permits expected +5.5% to 1.135 million, Mar -8.6% to 1.076 million.
0830 ETApr CPI expected +0.3% m/m and +1.1% y/y, Mar +0.1% m/m and +0.9% y/y. Apr CPI ex food & energy expected +0.2% m/m and +2.1% y/y, Mar +0.1% m/m and +2.2% y/y.
0915 ETApr industrial production expected +0.3%, Mar -0.6%. Apr manufacturing production, Mar -0.3%. Apr capacity utilization expected +0.2 to 75.0%, Mar -0.5 to 74.8%.
1200 ETSan Francisco Fed President John Williams (non-voter) and Atlanta Fed President Dennis Lockhart (non-voter) interview on the U.S. economic outlook.
JPN0030 ETRevised Japan Mar industrial production, preliminary +3.6% m/m and +0.1% y/y.
0030 ETJapan Mar capacity utilization, Feb -5.4% m/m.
1950 ETJapan Q1 GDP expected +0.3% q/q annualized, Q4 -1.1% q/q annualized. Q1 GDP deflator expected +1.0% y/y, Q4 +1.5% y/y.
1950 ETJapan Q1 private consumption expected +0.2% q/q, Q4 -0.9% q/q. Q1 business spending expected -0.8% q/q, Q4 +1.5% q/q.
UK0430 ETUK Apr CPI expected +0.3% m/m and +0.5% y/y, Mar +0.4% m/m and +0.5% y/y. Apr core CPI expected +1.4% y/y, Mar +1.5% y/y.
0430 ETUK Apr RPI expected +0.3% m/m and +1.5% y/y, Mar +0.4% m/m and +1.6% y/y. Apr RPI ex mortgage interest payments expected +1.6% y/y, Mar +1.6% y/y.
0430 ETUK Apr PPI input prices expected +1.1% m/m and -6.7% y/y, Mar +2.0% m/m and -6.5% y/y.
0430 ETUK Apr PPI output prices expected +0.2% m/m and -0.8% y/y, Mar +0.3% m/m and -0.9% y/y. Apr PPI output core expected +0.1% m/m and +0.3% y/y, Mar +0.1% m/m and +0.2% y/y.
0430 ETUK Mar ONS house price, Feb +7.6% y/y.
CHI2130 ETChina Apr property prices.
U.S. STOCK CALENDAR05/17/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Home Depot Inc/TheHD USBef-mktQ1 2017 Earnings ReleaseQ1 20171.352
Home Depot Inc/TheHD US9:00Q1 2017 Earnings CallQ1 2017
TJX Cos Inc/TheTJX US9:30Q1 2017 Earnings ReleaseQ1 20170.708
Principal Financial Group IncPFG US10:00Annual General MeetingY 2016
Boston Properties IncBXP US10:00Annual General Meeting
JPMorgan Chase & CoJPM US11:00Annual General MeetingY 2016
TJX Cos Inc/TheTJX US11:00Q1 2017 Earnings CallQ1 2017
Electronic Arts IncEA US11:00Investor DayY 2016
Southwestern Energy CoSWN US12:00Annual General Meeting
Amazon.com IncAMZN US12:00Annual General MeetingY 2016
Juniper Networks IncJNPR US12:00Investor DayY 2016
Gap Inc/TheGPS US13:00Annual General MeetingY 2016
Morgan StanleyMS US14:00Annual General Meeting
Essex Property Trust IncESS US16:00Annual General MeetingY 2016
Charles Schwab Corp/TheSCHW US17:00Annual General Meeting
Time Warner Cable IncTWC USAft-mktDigital Realty Trust Replaces Time Warner Cable in S&P 500
Equifax IncEFX USInvestor Meeting - LondonY 2016
Leggett & Platt IncLEG USAnnual General Meeting
General Growth Properties IncGGP USAnnual General MeetingY 2016
Newfield Exploration CoNFX USAnnual General Meeting
Realty Income CorpO USAnnual General Meeting
Diamond Offshore Drilling IncDO USAnnual General Meeting
FirstEnergy CorpFE USAnnual General MeetingY 2016
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Tuesday, October 27, 2015

BARCHART MORNING CALL 10/27

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 -0.07%) are down -0.04% and European stocks are down -0.20% ahead of Apple quarterly earnings and before the FOMC begins its 2-day policy meeting. With nearly no chance of a Fed rate hike priced into this month's FOMC meeting, the markets will look to Wednesday's post-FOMC meeting statement to gauge the Fed's assessment of the economy and to when it may begin to raise interest rates. Weakness in energy producers is also pulling the overall market lower with Dec crude (CLZ15 -1.32%) down -1.16% to a 1-3/4 month low. European stocks were also pressured by a 3.3% drop in BASF SE after the world's largest chemical maker cut its full-year growth targets due to the slide in crude prices and slowing demand in Brazil and China. Asian stocks settled mostly lower: Japan -0.90%, Hong Kong +0.11%, China +0.14%, Taiwan -0.50%, Australia -0.03%, Singapore -0.99%, South Korea -0.13%, India -0.40%. Asian stocks were undercut by weakness in energy producers and Japanese stocks also closed lower as exporters sold-off when the yen strengthened against the dollar, which reduces the earnings prospects of exporters. China's Shanghai Stock Index erased losses in the last hour of trade and closed higher after defense stocks rallied as a U.S. navy patrol sailed close to islands in the South China Sea claimed by China.
The dollar index (DXY00 -0.12%) is down -0.08%. EUR/USD (^EURUSD) is unchanged. USD/JPY (^USDJPY) is down -0.58%.
Dec T-note prices (ZNZ15 +0.05%) are up +1.5 ticks.
ECB Executive Board member Praet said the ECB is looking at ways to lift inflation without "taboos" as "we are in a situation in which the reaching of our objective could be delayed."
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Sep durable goods orders (expected -1.5% and unch ex-transportation, Aug -2.3% and -0.2% ex-transportation), (2) Aug S&P CaseShiller composite-20 home price index (expected +0.10% m/m and +5.10% y/y, Jul -0.20% m/m and +4.96% y/y), (3) preliminary-Oct Markit services PMI (expected +0.4 to 55.5, Sep -1.0 to 55.1), (4) Oct U.S. consumer confidence from the Conference Board (expected unchanged at 103.0, Sep +1.7 to 103.0), (5) Oct Richmond Fed manufacturing index (expected +2 to -3, Sep -5 to -5), and (6) the first day of the FOMC's 2-day meeting.
There are 43 of the S&P 500 companies that report earnings today with notable reports including: Apple (consensus $1.88), UPS (1.37), Ford (0.47), Baxter (0.29), Merck (0.92), Pfizer (0.50), Comcast (0.80).
U.S. IPO's scheduled to price today: Optex Systems (OPXSD).
Equity conferences during the remainder of this week include: Hart Energy DUG Eagle Ford Conference on Mon-Tue, and Money20/20 Conference on Mon-Wed.



OVERNIGHT U.S. STOCK MOVERS
Ford Motor (F +0.06%) reported Q3 EPS of 45 cents, less than consensus of 47 cents.
Pfizer (PFE +0.32%) reported Q3 EPS of 60 cents, above consensus of 51 cents.
Baxter International (BAX +1.44%) reported Q3 EPS of 41 cents, higher than consensus of 29 cents.
Merck & Co. (MRK +0.06%) reported Q3 EPS of 96 cents, above consensus of 92 cents.
Corning (GLW -1.59%) reported Q3 EPS of 34 cents, below consensus of 35 cents.
Mondelez International (MDLZ +0.58%) rose over 2% in after-hours trading after it was rated a new 'Positive' at Susquehanna with a 12-month price target of $60.
Edwards Lifesciences (EW -1.97%) climbed nearly 6% in after-hours trading after it reported Q3 adjusted EPS of $1.07, higher than consensus of 98 cents, and then raised guidance on fiscal 2015 adjusted EPS to $4.43-$4.53 from a previous estimate of $4.30-$4.40, above consensus of $4.38.
Swift Transportation (SWFT +1.92%) slid nearly 2% in after-hours trading after it reported Q3 EPS of 31 cents, right on consensus, but reported Q3 revenue of $1.06 billion, below consensus of $1.08 billion.
The Cheesecake Factory (CAKE +2.52%) fell over 5% in after-hours trading after it reported adjusted Q3 EPS of 59 cents, better than consensus of 56 cents, but reported Q3 revenue of $526.7 million, less than consensus of $535.5 million.
Hartford Financial (HIG -0.87%) slid over 4% in after-hours trading after it reported Q3 EPS of 86 cents, weaker than consensus of 99 cents.
MicroStrategy (MSTR +4.29%) fell over 11% in after-hours trading after it reported Q3 revenue of $129.5 million, below consensus of $137.8 million.
Rent-A-Center (RCII +0.74%) plunged nearly 20% in after-hours trading after it lowered guidance on fiscal 2015 EPS to $2.00-$2.10 from a September estimate of $2.05-$2.20, below consensus of $2.15.
Marvell Technology (MRVL -1.26%) tumbled 17% in after-hours trading after PricewaterhouseCooper resigned as its external accounting firm.
Gold Resources (GORO -1.06%) fell over 3% in after-hours trading after it cut its 2015 gold production forecast by 6% to 29,600 ounces and cut its silver production estimate by 16% to 2.5 million ounces.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 -0.07%) this morning are down -0.75 of a point (-0.04%). Monday's closes: S&P 500 -0.19%, Dow Jones -0.13%, Nasdaq +0.15%. The S&P 500 on Monday closed lower on caution ahead of the Tue/Wed FOMC meeting, the sharp -11.5% decline in U.S. Sep new home sales, and weakness in technology stocks after Apple fell by more than 3%.
Dec 10-year T-notes (ZNZ15 +0.05%) this morning are up +1.5 ticks. TYZ5 +5.50, FVZ5 +2.50. Dec T-notes on Monday settled higher on weakness in stocks and on the sharp decline in U.S. Sep new home sales to a 10-month low.
The dollar index (DXY00 -0.12%) this morning is down -0.080 (-0.08%). EUR/USD (^EURUSD) is unch. USD/JPY (^USDJPY) is down -0.70 (-0.58%). Dollar Index -0.266 (-0.27%), EUR/USD +0.0040 (+0.36%), USD/JPY -0.37 (-0.30%). The dollar index on Monday closed lower on expectations the FOMC this week will keep rates unchanged and on strength in EUR/USD which recovered from a 2-1/2 month low and closed higher after the German IFO Oct business confidence fell less than expected.
Dec crude oil (CLZ15 -1.32%) this morning is down -51 cents (-1.16%) at a 1-3/4 month low and Dec gasoline (RBZ15 -0.34%) is down -0.0001 (-0.01%). CLZ5 -0.87 (-1.95%), RBZ5 -0.0162 (-1.25%). Dec crude oil and gasoline on Monday closed lower with Dec crude at a 1-month low. Crude oil prices closed lower on weak U.S. economic data and the ongoing supply glut as EIA data shows U.S. crude inventories at 476.6 million bbl in the week ended Oct 16, the highest for this time of year in data going back to 1930.
GLOBAL EVENT CALENDAR10/27/2015
US0830 ETSep durable goods orders expected -1.5% and unch ex transportation, Aug -2.3% and -0.2% ex transportation. Sep capital goods orders non-defense ex-aircraft expected +0.2%, Aug -0.8%.
0900 ETAug S&P CaseShiller composite-20 home price index expected +0.10% m/m and +5.10% y/y, Jul -0.20% m/m and +4.96% y/y.
0945 ETPreliminary Oct Markit services PMI expected +0.4 to 55.5, Sep -1.0 to 55.1. Oct Markit composite PMI, Sep 0.7 to 55.0.
1000 ETOct consumer confidence (Conference Board) expected unchanged at 103.0, Sep +1.7 to 103.0.
1000 ETOct Richmond Fed manufacturing index expected +2 to -3, Sep -5 to -5.
1100 ETFOMC begins 2-day policy meeting.
1300 ETTreasurys 2-year T-note auction postponed due to debt ceiling constraints.
EUR0500 ETEurozone Sep M3 money supply expected +5.0% y/y, Aug +4.8% y/y.
UK0530 ETUK Q3 GDP expected +0.6% q/q and +2.4% y/y, Q2 +0.7% q/q and +2.4% y/y.
0530 ETUK Aug index of services expected +0.2% m/m and +1.0% y/y, Jul +0.2% m/m and +0.8% 3-mo/3-mo.
JPN1950 ETJapan Sep retail sales expected +1.1% m/m and +0.4% y/y, Aug +0.8%m/m and unch y/y.
CHI2145 ETChina Oct Westpac-MNI consumer sentiment, Sep 118.2.
U.S. STOCK CALENDAR10/27/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Airgas IncARG USBef-mktQ2 2016 Earnings ReleaseQ2 20161.292
Baxter International IncBAX USBef-mktQ3 2015 Earnings ReleaseQ3 20150.294
Corning IncGLW USBef-mktQ3 2015 Earnings ReleaseQ3 20150.347
Marsh & McLennan Cos IncMMC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.598
Merck & Co IncMRK USBef-mktQ3 2015 Earnings ReleaseQ3 20150.915
Pfizer IncPFE USBef-mktQ3 2015 Earnings ReleaseQ3 20150.504
Comcast CorpCMCSA USBef-mktQ3 2015 Earnings ReleaseQ3 20150.799
Waste Management IncWM USBef-mktQ3 2015 Earnings ReleaseQ3 20150.712
Simon Property Group IncSPG USBef-mktQ3 2015 Earnings ReleaseQ3 20152.464
United Parcel Service IncUPS USBef-mktQ3 2015 Earnings ReleaseQ3 20151.372
Waters CorpWAT USBef-mktQ3 2015 Earnings ReleaseQ3 20151.398
AMETEK IncAME USBef-mktQ3 2015 Earnings ReleaseQ3 20150.648
Reynolds American IncRAI USBef-mktQ3 2015 Earnings ReleaseQ3 20150.547
HCA Holdings IncHCA USBef-mktQ3 2015 Earnings ReleaseQ3 20151.17
EI du Pont de Nemours & CoDD US6:00Q3 2015 Earnings ReleaseQ3 20150.1
Textron IncTXT US6:30Q3 2015 Earnings ReleaseQ3 20150.608
Wyndham Worldwide CorpWYN US6:30Q3 2015 Earnings ReleaseQ3 20151.679
CONSOL Energy IncCNX US6:45Q3 2015 Earnings ReleaseQ3 2015-0.032
Ford Motor CoF US7:00Q3 2015 Earnings ReleaseQ3 20150.465
Ingersoll-Rand PLCIR US7:00Q3 2015 Earnings ReleaseQ3 20151.156
Masco CorpMAS US7:00Q3 2015 Earnings ReleaseQ3 20150.318
Coach IncCOH US7:00Q1 2016 Earnings ReleaseQ1 20160.397
Bristol-Myers Squibb CoBMY US7:30Q3 2015 Earnings ReleaseQ3 20150.35
Cummins IncCMI US7:30Q3 2015 Earnings ReleaseQ3 20152.601
Sealed Air CorpSEE US7:30Q3 2015 Earnings ReleaseQ3 20150.56
Masco CorpMAS US8:00Q3 2015 Earnings CallQ3 2015
Merck & Co IncMRK US8:00Q3 2015 Earnings CallQ3 2015
Textron IncTXT US8:00Q3 2015 Earnings CallQ3 2015
PACCAR IncPCAR US8:00Q3 2015 Earnings ReleaseQ3 20151.163
Baxter International IncBAX US8:30Q3 2015 Earnings CallQ3 2015
Corning IncGLW US8:30Q3 2015 Earnings CallQ3 2015
Marsh & McLennan Cos IncMMC US8:30Q3 2015 Earnings CallQ3 2015
Comcast CorpCMCSA US8:30Q3 2015 Earnings CallQ3 2015
United Parcel Service IncUPS US8:30Q3 2015 Earnings CallQ3 2015
Waters CorpWAT US8:30Q3 2015 Earnings CallQ3 2015
AMETEK IncAME US8:30Q3 2015 Earnings CallQ3 2015
Coach IncCOH US8:30Q1 2016 Earnings CallQ1 2016
Wyndham Worldwide CorpWYN US8:30Q3 2015 Earnings CallQ3 2015
EI du Pont de Nemours & CoDD US9:00Q3 2015 Earnings CallQ3 2015
Ford Motor CoF US9:00Q3 2015 Earnings CallQ3 2015
Kroger Co/TheKR US9:00Investor MeetingY 2015
Hartford Financial Services Group Inc/TheHIG US9:00Q3 2015 Earnings CallQ3 2015
Reynolds American IncRAI US9:00Q3 2015 Earnings CallQ3 2015
Airgas IncARG US10:00Q2 2016 Earnings CallQ2 2016
Cummins IncCMI US10:00Q3 2015 Earnings CallQ3 2015
Ingersoll-Rand PLCIR US10:00Q3 2015 Earnings CallQ3 2015
Pfizer IncPFE US10:00Q3 2015 Earnings CallQ3 2015
Waste Management IncWM US10:00Q3 2015 Earnings CallQ3 2015
Sealed Air CorpSEE US10:00Q3 2015 Earnings CallQ3 2015
CONSOL Energy IncCNX US10:00Q3 2015 Earnings CallQ3 2015
HCA Holdings IncHCA US10:00Q3 2015 Earnings CallQ3 2015
Ford Motor CoF US11:00Q3 2015 Earnings Call - Fixed IncomeC3 2015
Charles Schwab Corp/TheSCHW US11:00Business Update Call
Torchmark CorpTMK US11:00Q3 2015 Earnings CallQ3 2015
Simon Property Group IncSPG US11:00Q3 2015 Earnings CallQ3 2015
AvalonBay Communities IncAVB US11:00Q3 2015 Earnings CallQ3 2015
Bristol-Myers Squibb CoBMY US11:30Q3 2015 Earnings CallQ3 2015
PACCAR IncPCAR US12:00Q3 2015 Earnings CallQ3 2015
Gilead Sciences IncGILD US16:05Q3 2015 Earnings ReleaseQ3 20152.879
CH Robinson Worldwide IncCHRW US16:15Q3 2015 Earnings ReleaseQ3 20150.936
Edison InternationalEIX US16:30Q3 2015 Earnings CallQ3 2015
Apple IncAAPL US16:30Q4 2015 Earnings ReleaseQ4 20151.878
Gilead Sciences IncGILD US16:30Q3 2015 Earnings CallQ3 2015
Akamai Technologies IncAKAM US16:30Q3 2015 Earnings CallQ3 2015
Total System Services IncTSS US17:00Q3 2015 Earnings CallQ3 2015
Apple IncAAPL US17:00Q4 2015 Earnings CallQ4 2015
Fiserv IncFISV US17:00Q3 2015 Earnings CallQ3 2015
CBRE Group IncCBG US17:00Q3 2015 Earnings CallQ3 2015
Aflac IncAFL USAft-mktQ3 2015 Earnings ReleaseQ3 20151.482
Anadarko Petroleum CorpAPC USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.73
Owens-Illinois IncOI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.553
Edison InternationalEIX USAft-mktQ3 2015 Earnings ReleaseQ3 20151.18
Total System Services IncTSS USAft-mktQ3 2015 Earnings ReleaseQ3 20150.592
Cincinnati Financial CorpCINF USAft-mktQ3 2015 Earnings ReleaseQ3 20150.68
Express Scripts Holding CoESRX USAft-mktQ3 2015 Earnings ReleaseQ3 20151.44
Fiserv IncFISV USAft-mktQ3 2015 Earnings ReleaseQ3 20150.974
Macerich Co/TheMAC USAft-mktQ3 2015 Earnings ReleaseQ3 20150.981
Akamai Technologies IncAKAM USAft-mktQ3 2015 Earnings ReleaseQ3 20150.575
CBRE Group IncCBG USAft-mktQ3 2015 Earnings ReleaseQ3 20150.457
Assurant IncAIZ USAft-mktQ3 2015 Earnings ReleaseQ3 20151.569
Verisk Analytics IncVRSK USAft-mktQ3 2015 Earnings ReleaseQ3 20150.766
Universal Health Services IncUHS US17:01Q3 2015 Earnings ReleaseQ3 20151.579
Danaher CorpDHR USITC to Release Findings in Danaher Corp vs. Instradent Patent-Infringement Case
Amgen IncAMGN USPDUFA, talimogene laherparepvec, metastatic melanoma
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Tuesday, February 3, 2015

BARCHART MORNING CALL 2/3

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 +0.37%) this morning are up +0.43% and European stocks are up +1.41% at a 6-1/3 year high after Greece's government backed down from its call for a debt write down. Greek bank stocks surged and Greece's ASE Stock Index jumped nearly 9% after Greek Finance Minister Varoufakis outlined plans to swap some Greek debt owned by the ECB and the European Financial Stability Facility for new securities that would allow Greece to avoid imposing a haircut on creditors. Asian stocks closed mixed: Japan -1.27%, Hong Kong +0.29%, China +2.49%, Taiwan +0.66%, Australia +1.46%, Singapore -0.45%, South Korea -0.09%, India -0.42%. Chinese stocks rose on speculation the PBOC may soon lower banks' reserve requirements in an attempt to revive economic growth after the China Jan manufacturing PMI contracted by the most in 28 months. Australia's S&P 200 Stock Index surged to a 6-1/2 year high after the RBA unexpectedly cut interest rates. Commodity prices are mostly higher. Mar crude oil (CLH15 +2.52%) is up +3.41% at a 2-week high and Mar gasoline (RBH15 +2.34%) is up +2.86% at a 1-1/4 month high as a strike by the United Steelworkers union, which represents employees at more than 200 refineries, enters its third day. Feb gold (GCG15 +0.10%) is up +0.32%. Mar copper (HGH15 +3.11%) is up +3.59% at a 1-week high. Agriculture prices are stronger. The dollar index (DXY00 -0.05%) is unchanged. EUR/USD (^EURUSD) is up +0.04%. USD/JPY (^USDJPY) is down -0.18%. Mar T-note prices (ZNH15 -0.25%) are down -13 ticks.
The Eurozone Dec PPI fell -1.0% m/m, more than expectations of -0.7% m/m and the largest monthly decline in 5-3/4 years. On an annual basis, Dec PPI fell -2.7% y/y, more than expectations of -2.5% y/y and the fastest pace of decline in 5 years.
The UK Jan Markit/CIPS construction PMI unexpectedly rose +1.5 to 59.1, better than expectations of -0.6 to 57.0.
The Reserve Bank of Australia (RBA) unexpectedly cut its benchmark interest rate by -25 bp to a record low 2.25% and RBA Governor Stevens said the Australian dollar "remains above most estimates of its fundamental value." He added that "output growth will probably remain a little below trend for somewhat longer, and the rate of unemployment peak a little higher, than earlier expected."
U.S. STOCK PREVIEW
Today’s Dec factory orders report is expected to show a decline of -2.4%, adding to November’s decline of -0.7%. Today’s Jan total vehicle sales report is expected to show a small decline to 16.60 million units from 16.80 million units in December.
There are 54 of the S&P 500 companies that report earnings today: Pentair (consensus $1.03), Airgas (1.23), Archer-Daniels Midland (0.96), LyondellBasell Industries NV (2.80), Ryder Systems (1.59), HCA Holdings (1.30), AutoNation ((0.91), Eaton Corp PLC (1.20), Emerson Electric (0.73), Gannett (1.01). Equity conferences this week include: ANS Conference on Nuclear Training and Education on Mon-Tue, In-Pharma Osaka 2015 on Tue, Media Insights & Engagement Conference on Tue-Thu, Cowen and Company Aerospace/Defense Conference & Transport Forum on Wed-Thu.


OVERNIGHT U.S. STOCK MOVERS
Archer-Daniels Midland (ADM +3.30%) reported Q4 EPS of $1.00, better than consensus of 96 cents.
AutoNation (AN -0.47%) reported Q4 EPS of $1.03, stronger than consensus of 91 cents.
Office Depot (ODP +0.39%) surged 13% in pre-market trading after the WSJ reported that the company is in advanced merger talks with Staples (SPLS +0.53%) .
Dow Jones reported that the NYSE said it will suspend trading in RadioShack (RSH -14.29%) immediately and begin the delisting proceedings.
MDU Resources (MDU +0.84%) reported Q4 adjusted EPS of 35 cents, weaker than consensus of 39 cents, and then lowered guidance on fiscal 2015 adjusted EPS to $1.05-$1.20, below consensus of $1.42.
Neil Dana reported a 9.3% passive stake in GoPro (GPRO +4.80%) .
Advent Software (ADVS -1.10%) rose over 6% in after-hours tradng after SS&C (SSNC -1.41%) announeced it will acquire the company for $44.25 per share, or $2.7 billion.
Cliffs Natural Resources (CLF +8.57%) jumped 11% in after-hours trading after it reported Q4 EPS of $1.00, more than seven times consensus of 13 cents.
Rent-A-Center (RCII +2.19%) slumped over 13% in after-hours trading after it reported Q4 adjusted EPS of 50 cents, below consensus of 63 cents, and then lowered guidance on fiscal 2015 EPS to $2.05-$2.30, less than consensus o $2.48.
Reinsurance Group (RGA +1.62%) reported Q4 adjusted EPS of $2.99, well above consensus of $2.11.
OppenheimerFunds reported a 6.11% passive stake in Targa Resources Partners (NGLS +4.59%) .
Anadarko (APC +1.25%) reported adjusted Q4 EPS of 37 cents, well below consensus of 85 cents.
Hartford Financial (HIG +1.70%) reported Q4 EPS of 96 cents, beter than consensus of 93 cents.
Owens-Illinois (OI +3.73%) reported Q4 EPS of 46 cents, right on consensus, although Q4 revenue of $1.60 billion was slightly below consensus of $1.65 billion.
Torchmark (TMK +1.98%) reported Q4 net operating EPS of $1.00, right on consensus.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 +0.37%) this morning are up +8.75 points (+0.43%). The S&P 500 index on Monday closed higher: S&P 500 +1.30%, Dow Jones +1.14%, Nasdaq +0.97%. Bullish factors included (1) the +0.3% increase in U.S. Dec personal income, better than expectations of +0.2%, and (2) strength in energy producers after crude oil climbed to a 2-week high. Bearish factors included (1) the -0.3% decline in U.S. Dec personal spending, a bigger decline than expectations of -0.2% and the largest drop in 5-1/4 years, (2) concern the U.S. economy may be slowing after the U.S. Jan ISM manufacturing PMI fell -1.6 to 53.5, more than expectations of -1.0 to 54.5 and the slowest pace of expansion in a year.
Mar 10-year T-notes (ZNH15 -0.25%) this morning are down -13 ticks. Mar 10-year T-note futures prices on Monday closed higher. Closes: TYH5 +1.50, FVH5 +0.25. Bullish factors included (1) concern about a slowdown in the U.S. economy after the Jan ISM manufacturing PMI fell more than expected and expanded at the slowest pace in a year, (2) the bigger-than-expected -0.3% m/m decline in U.S. Dec personal spending, the most in 5-1/4 years, and (3) deflation concerns after the Dec core PCE deflator rose +1.3% y/y, the slowest pace of increase in 9 months.
The dollar index (DXY00 -0.05%) this morning is unchanged. EUR/USD (^EURUSD) is up +0.0004 (+0.04%). USD/JPY (^USDJPY) is down -0.21 (-0.18%). The dollar index on Monday closed lower: Dollar index +0.022 (+0.02%), EUR/USD +0.00675 (+0.60%), USD/JPY +0.107 (+0.09%). Bearish factors included (1) concern that U.S. growth is slowing which may prompt the Fed to delay interest rate hikes after the Jan ISM manufacturing PMI expanded at the slowest pace in a year and (2) strength in EUR/USD after Greece's newly elected leaders gave assurances that Greece will abide by its financial obligations, which reduced concern that Greece will default on its debt and leave the Eurozone.
Mar WTI crude oil (CLH15 +2.52%) this morning is up +$1.69 (+3.41%) at a 2-week high and Mar gasoline (RBH15 +2.34%) is up +0.0441 (+2.86%) at a 1-1/4 month high. Mar crude oil and Mar gasoline on Monday closed higher with Mar crude at a 2-week high and Mar gasoline at a 5-week high: CLH5 +1.59 (+3.30%), RBH5 +0.0736 (+4.98%). Bullish factors included (1) a weaker dollar, (2) concern that gasoline production will decline as a strike by U.S. oil refinery workers that account for 10% of U.S. refining capacity entered its second day.
GLOBAL EVENT CALENDAR02/03/2015
US0945 ETNew York Jan ISM, Dec +8.4 to 70.8.
1000 ETDec factory orders expected -2.4%, Nov -0.7%.
n/aJan total vehicle sales expected 16.60 million units, Dec 16.80 million. Jan domestic vehicle sales expected 13.50 million, Dec 13.46 million.
UK0430 ETUK Jan Markit/CIPS construction PMI expected -0.6 to 57.0, Dec 57.6.
1901 ETUK Jan BRC shop price index expected -1.6% y/y, Dec -1.7% y/y.
EUR0500 ETEurozone Dec PPI expected -0.7% m/m and -2.5% y/y, Nov -0.3% m/m and -1.6% y/y.
JPN2030 ETJapan Dec labor cash earnings expected +1.6% y/y, Nov +0.1% y/y. Dec real cash earnings, Nov -2.7% y/y.
U.S. STOCK CALENDAR02/03/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Pentair PLCPNR USBef-mktQ4 2014 Earnings ReleaseQ4 20141.028
Airgas IncARG USBef-mktQ3 2015 Earnings ReleaseQ3 20151.234
Mallinckrodt PLCMNK USBef-mktQ1 2015 Earnings ReleaseQ1 20151.584
Archer-Daniels-Midland CoADM USBef-mktQ4 2014 Earnings ReleaseQ4 20140.955
LyondellBasell Industries NVLYB USBef-mktQ4 2014 Earnings ReleaseQ4 20142.166
Ryder System IncR USBef-mktQ4 2014 Earnings ReleaseQ4 20141.591
HCA Holdings IncHCA USBef-mktQ4 2014 Earnings ReleaseQ4 20141.298
AutoNation IncAN USBef-mktQ4 2014 Earnings ReleaseQ4 20140.909
Eaton Corp PLCETN USBef-mktQ4 2014 Earnings ReleaseQ4 20141.2
Emerson Electric CoEMR USBef-mktQ1 2015 Earnings ReleaseQ1 20150.725
Gannett Co IncGCI USBef-mktQ4 2014 Earnings ReleaseQ4 20141.005
National Oilwell Varco IncNOV USBef-mktQ4 2014 Earnings ReleaseQ4 20141.598
Aetna IncAET US6:00Q4 2014 Earnings ReleaseQ4 20141.225
United Parcel Service IncUPS US7:45Q4 2014 Earnings ReleaseQ4 20141.25
Owens-Illinois IncOI US8:00Q4 2014 Earnings CallQ4 2014
Aetna IncAET US8:00Q4 2014 Earnings CallQ4 2014
Mallinckrodt PLCMNK US8:30Q1 2015 Earnings CallQ1 2015
United Parcel Service IncUPS US8:30Q4 2014 Earnings CallQ4 2014
Pentair PLCPNR US9:00Q4 2014 Earnings CallQ4 2014
Anadarko Petroleum CorpAPC US9:00Q4 2014 Earnings CallQ4 2014
Archer-Daniels-Midland CoADM US9:00Q4 2014 Earnings CallQ4 2014
Hartford Financial Services Group Inc/TheHIG US9:00Q4 2014 Earnings CallQ4 2014
National Oilwell Varco IncNOV US9:00Q4 2014 Earnings CallQ4 2014
Ford Motor CoF US9:15January 2015 Sales and Revenue Release2015
Airgas IncARG US10:00Q3 2015 Earnings CallQ3 2015
HCA Holdings IncHCA US10:00Q4 2014 Earnings CallQ4 2014
Eaton Corp PLCETN US10:00Q4 2014 Earnings CallQ4 2014
Ford Motor CoF US10:00January 2015 Sales and Revenue Call2015
Gannett Co IncGCI US10:00Q4 2014 Earnings CallQ4 2014
LyondellBasell Industries NVLYB US11:00Q4 2014 Earnings CallQ4 2014
Ryder System IncR US11:00Q4 2014 Earnings CallQ4 2014
AutoNation IncAN US11:00Q4 2014 Earnings CallQ4 2014
Torchmark CorpTMK US11:00Q4 2014 Earnings CallQ4 2014
Emerson Electric CoEMR US11:00Annual General MeetingY 2015
Emerson Electric CoEMR US14:00Q1 2015 Earnings CallQ1 2015
Unum GroupUNM US16:00Q4 2014 Earnings ReleaseQ4 20140.876
Chipotle Mexican Grill IncCMG US16:00Q4 2014 Earnings ReleaseQ4 20143.788
Edwards Lifesciences CorpEW US16:01Q4 2014 Earnings ReleaseQ4 20140.949
Gilead Sciences IncGILD US16:05Q4 2014 Earnings ReleaseQ4 20142.212
Walt Disney Co/TheDIS US16:15Q1 2015 Earnings ReleaseQ1 20151.068
CH Robinson Worldwide IncCHRW US16:15Q4 2014 Earnings ReleaseQ4 20140.759
Gilead Sciences IncGILD US16:30Q4 2014 Earnings CallQ4 2014
Wynn Resorts LtdWYNN US16:30Q4 2014 Earnings CallQ4 2014
Chipotle Mexican Grill IncCMG US16:30Q4 2014 Earnings CallQ4 2014
Walt Disney Co/TheDIS US17:00Q1 2015 Earnings CallQ1 2015
Edwards Lifesciences CorpEW US17:00Q4 2014 Earnings CallQ4 2014
Fiserv IncFISV US17:00Q4 2014 Earnings CallQ4 2014
Equity ResidentialEQR USAft-mktQ4 2014 Earnings ReleaseQ4 20140.827
Aflac IncAFL USAft-mktQ4 2014 Earnings ReleaseQ4 20141.284
Wynn Resorts LtdWYNN USAft-mktQ4 2014 Earnings ReleaseQ4 20141.418
Fiserv IncFISV USAft-mktQ4 2014 Earnings ReleaseQ4 20140.886
Rockwell Automation IncROK US18:30Annual General Meeting
AutoNation IncAN USJanuary 2015 Sales and Revenue Release2015
CareFusion CorpCFN USQ2 2015 Earnings ReleaseQ2 20150.79
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