Showing posts with label HQY. Show all posts
Showing posts with label HQY. Show all posts

Tuesday, January 24, 2017

MORNING CALL 1/24

Barchart Morning Call

Barchart.com - Tue Jan 24, 6:35AM CST
OVERNIGHT MARKETS AND NEWS
Mar E-mini S&Ps (ESH17 -0.01%) are little changed, down -0.02%, while European stocks are up +0.11% on reduced Brexit concerns after the UK's highest court ruled that Prime Minister May must seek an act of Parliament to start the 2-year countdown to Brexit, which may give British lawmakers a chance to soften the government’s plan. European stocks also received a boost after the Eurozone Jan Markit manufacturing PMI unexpectedly expanded. Mar WTI crude oil (CLH17 +0.19%) is up +0.17% on signs that OPEC members are adhering to their agreed upon production cuts after Iraq, OPEC's second-biggest producer, said it has already reduced crude output by 180,000 bpd and will cut its output by another 30,000 bpd by the end of the month. Asian stocks settled mostly higher: Japan -0.55%, Hong Kong +0.22%, China +0.18%, Taiwan +0.25%, Australia +0.70%, Singapore +0.54%, South Korea +0.07%, India +0.95%. Chinese shares closed higher and Japanese stocks fell after President Trump on Monday signed an executive order that withdrew the U.S. from the Trans-Pacific Partnership accord. Losses in Japanese stocks were contained after the Japan Jan Nikkei manufacturing PMI expanded at the fastest pace in 2-3/4 years.
The dollar index (DXY00 +0.15%) is up +0.15%. EUR/USD (^EURUSD) is down -0.22%. USD/JPY (^USDJPY) is up +0.54%.
Mar 10-year T-note prices (ZNH17 -0.19%) are down -6.5 ticks.
The Eurozone Jan Markit manufacturing PMI unexpectedly rose +0.2 to 55.1, stronger than expectations of -0.1 to 54.8 and the fastest pace of expansion since the data series began in 2014.
The Japan Jan Nikkei manufacturing PMI rose +0.4 to 52.8, the fastest pace of expansion in 2-3/4 years.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Jan Markit manufacturing PMI (expected +0.2 to 54.5, Dec +0.2 to 54.3), (2) Dec existing home sales (expected -2.0% to 5.50 million, Nov +0.7% to 5.61 million), (3) Jan Richmond Fed manufacturing index (expected -2 to 6, Dec +4 to 8), (4) Treasury auctions $26 billion of 2-year T-notes, (5) USDA Dec Cold Storage.
Notable S&P 500 earnings reports today include: Capital One (consensus $1.62), Corning (0.44), EI du Pont (0.42), Johnson & Johnson (1.56), Verizon (0.89), Lockheed Martin (3.06), 3M (1.87), Texas Instruments (0.81), Discover Financial (1.38), Navient (0.43).
U.S. IPO's scheduled to price today: Meridian Waste Solutions (MRDN).
Equity conferences: SPE Hydraulic Fracturing Technology Conference on Tue, Hart Energy DUG Marcellus Utica Midstream Conference on Wed-Thu.
OVERNIGHT U.S. STOCK MOVERS
Verizon Communications (VZ -0.59%) slid over 2% in pre-market trading after it reported Q4 adjusted EPS of 86 cents, weaker than consensus of 89 cents.
Alibaba (BABA +2.45%) jumped almost 5% in pre-market trading after it reported Q3 revenue of 53.2 billion yuan, stronger than consensus of 50.1 billion yuan, and forecast fiscal 2017 revenue will be up 53%, higher than an earlier projection of up 48%.
Humana (HUM +2.24%) was downgraded to 'Hold' from 'Buy' at Stifel.
J&J Snack Foods (JJSF -0.97%) reported Q1 EPS of 72 cents, stronger than consensus of 63 cents.
HealthEquity (HQY +0.78%) was rated a new 'Overweight' at Keybanc Capital Markets with a 12-month target price of $60.
U.S. Foods Holding Company (USFD -1.11%) lost nearly 1% in after-hours trading after it launched a 30 million share secondary offering of common stock.
The Soros Fund increased its passive stake in Sigma Designs (SIGM -0.79%) to 5.3% from 3.11%.
Enterprise Financial Services (EFSC -0.69%) reported Q4 core EPS of 59 cents, below consensus of 61 cents.
Brown & Brown (BRO -0.91%) reported Q4 adjusted EPS of 42 cents, above consensus of 41 cents.
Yahoo! (YHOO +0.83%) gained almost 1% in after-hours trading after it reported Q4 adjusted EPS of 25 cents, higher than consensus of 21 cents.
Ocular Therapeutix (OCUL -4.79%) slid over 5% in after-hours trading after it announced a $25 million public offering of common stock.
Mercury Systems (MRCY +0.96%) jumped 8% in after-hours trading after it reported Q2 adjusted EPS of 30 cents, better than consensus of 26 cents, and said is it sees Q3 adjusted EPS of 29 cents-32 cents, above consensus of 29 cents.
Fortina Silver Mines (FSM +2.70%) dropped 6% in after-hours trading after it issued 10.32 million shares at $6.30 per common share, an 8.7% discount to Monday's closing price.
BioAmber (BIOA -11.15%) slumped 11% in after-hours trading after it announces a $10 million underwritten public offering of common stock.
Cascadian Therapeutics (CASC -0.54%) fell 4% in after-hours trading after it announced that it intends to offer and sell shares of its common stock and Series E convertible preferred stock in concurrent but separate underwritten public offerings, although no size was given.
MARKET COMMENTS
Mar E-mini S&Ps (ESH17 -0.01%) this morning are down -0.50 of a point (-0.02%). Monday's closes: S&P 500 -0.27%, Dow Jones -0.14%, Nasdaq +0.05%. The S&P 500 on Monday dropped to a 1-week low and closed lower on concern about U.S. trade policies that may constrict global growth after President Trump promised a "very major" border tax and signed an executive order to withdraw from the Trans-Pacific Partnership trade deal. There was also weakness in energy producer stocks after crude oil prices fell -0.73%.
Mar 10-year T-notes (ZNH17 -0.19%) this morning are down -6.5 ticks. Monday's closes: TYH7 +19.00, FVH7 +11.25. Mar 10-year T-notes on Monday closed higher on the slide in stocks and on reduced inflation expectations after the -0.73% decline in crude oil prices.
The dollar index (DXY00 +0.15%) this morning is up +0.15 (+0.15%). EUR/USD (^EURUSD) is down -0.0024 (-0.22%). USD/JPY (^USDJPY) is up +0.61 (+0.54%). Monday's closes: Dollar index -0.742 (-0.74%), EUR/USD +0.0062 (+0.58%), USD/JPY -1.91 (-1.67%). The dollar index on Monday fell to a 1-1/2 month low and closed lower on concern about the Trump administration’s trade policies. There was also strength in EUR/USD which rose to a 1-1/2 month high on signs of strength in Germany's economy after the Bundesbank said Germany's economic growth "clearly gained pace" in Q4 as exports rose "strongly" and as "very strong" factory orders boosted industrial production.
Mar WTI crude oil prices (CLH17 +0.19%) this morning are up +9 cents (+0.17%) and Mar gasoline (RBH17 +0.63%) is +0.0077 (+0.48%). Monday's closes: Mar crude -0.39 (-0.73%), Mar gasoline -0.0014 (-0.09%). Mar crude oil and Mar gasoline on Monday closed lower on concern about increased U.S. crude output after last Friday's data from Baker Hughes showed active U.S. oil rigs increased sharply by 29 rigs to a 13-1/2 month high of 552 rigs. Oil prices were also undercut by President Trump's push for higher U.S. crude oil production when he said "he was committed to achieving energy independence from the OPEC cartel and any nations hostile to our interests" by exploiting "vast untapped domestic energy reserves." Crude oil prices found some support from the decline in the dollar index to a 1-1/2 month low.

GLOBAL EVENT CALENDAR01/24/2017
Tuesday, Jan 24
US0945 ETJan Markit manufacturing PMI expected +0.2 to 54.5, Dec +0.2 to 54.3.
1000 ETDec existing home sales expected -2.0% to 5.50 million, Nov +0.7% to 5.61 million.
1000 ETJan Richmond Fed manufacturing index expected -2 to 6, Dec +4 to 8.
1300 ETTreasury auctions $26 billion of 2-year T-notes.
1500 ETUSDA Dec Cold Storage.
Wednesday, Jan 25
US0700 ETWeekly MBA mortgage applications, previous +0.8% with purchase sub-index -5.2% and refi sub-index +6.8%.
0900 ETNov FHFA house price index expected +0.4%, Oct +0.4% m/m.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $15 billion of 2-year floating-rate notes.
1300 ETTreasury auctions $34 billion of 5-year T-notes.
n/aHouse and Senate Republicans begin a 3-day policy retreat in Philadelphia.
U.S. STOCK CALENDAR01/24/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Corning IncGLW USBef-mktQ4 2016 Earnings ReleaseQ4 20160.437
DR Horton IncDHI USBef-mktQ1 2017 Earnings ReleaseQ1 20170.475
Waters CorpWAT USBef-mktQ4 2016 Earnings ReleaseQ4 20162.127
EI du Pont de Nemours & CoDD US6:00Q4 2016 Earnings ReleaseQ4 20160.418
Fifth Third BancorpFITB US6:30Q4 2016 Earnings ReleaseQ4 20160.431
Johnson & JohnsonJNJ US6:40Q4 2016 Earnings ReleaseQ4 20161.564
Travelers Cos Inc/TheTRV US6:57Q4 2016 Earnings ReleaseQ4 20162.808
Verizon Communications IncVZ US7:00Q4 2016 Earnings ReleaseQ4 20160.894
Lockheed Martin CorpLMT US7:25Q4 2016 Earnings ReleaseQ4 20163.055
Kimberly-Clark CorpKMB US7:30Q4 2016 Earnings ReleaseQ4 20161.415
3M CoMMM US7:30Q4 2016 Earnings ReleaseQ4 20161.871
EI du Pont de Nemours & CoDD US8:00Q4 2016 Earnings CallQ4 2016
Waters CorpWAT US8:00Q4 2016 Earnings CallQ4 2016
Prologis IncPLD US8:00Q4 2016 Earnings ReleaseQ4 20160.629
Verizon Communications IncVZ US8:30Q4 2016 Earnings CallQ4 2016
Corning IncGLW US8:30Q4 2016 Earnings CallQ4 2016
Johnson & JohnsonJNJ US8:30Q4 2016 Earnings CallQ4 2016
3M CoMMM US9:00Q4 2016 Earnings CallQ4 2016
Travelers Cos Inc/TheTRV US9:00Q4 2016 Earnings CallQ4 2016
Fifth Third BancorpFITB US9:00Q4 2016 Earnings CallQ4 2016
Kimberly-Clark CorpKMB US10:00Q4 2016 Earnings CallQ4 2016
DR Horton IncDHI US10:00Q1 2017 Earnings CallQ1 2017
Lockheed Martin CorpLMT US11:00Q4 2016 Earnings CallQ4 2016
Prologis IncPLD US12:00Q4 2016 Earnings CallQ4 2016
Becton Dickinson and CoBDX US13:00Annual General MeetingY 2017
Capital One Financial CorpCOF US16:05Q4 2016 Earnings ReleaseQ4 20161.615
Total System Services IncTSS US16:15Q4 2016 Earnings ReleaseQ4 20160.701
Texas Instruments IncTXN US16:30Q4 2016 Earnings ReleaseQ4 20160.812
Stryker CorpSYK US16:30Q4 2016 Earnings CallQ4 2016
Intuitive Surgical IncISRG US16:30Q4 2016 Earnings CallQ4 2016
CA IncCA US17:00Q3 2017 Earnings CallQ3 2017
Total System Services IncTSS US17:00Q4 2016 Earnings CallQ4 2016
Capital One Financial CorpCOF US17:00Q4 2016 Earnings CallQ4 2016
Seagate Technology PLCSTX US17:00Q2 2017 Earnings CallQ2 2017
CA IncCA USAft-mktQ3 2017 Earnings ReleaseQ3 20170.605
Stryker CorpSYK USAft-mktQ4 2016 Earnings ReleaseQ4 20161.767
Intuitive Surgical IncISRG USAft-mktQ4 2016 Earnings ReleaseQ4 20165.983
Seagate Technology PLCSTX USAft-mktQ2 2017 Earnings ReleaseQ2 20171.077
Discover Financial ServicesDFS USAft-mktQ4 2016 Earnings ReleaseQ4 20161.383
Navient CorpNAVI USAft-mktQ4 2016 Earnings ReleaseQ4 20160.434
Texas Instruments IncTXN US17:30Q4 2016 Earnings CallQ4 2016
Discover Financial ServicesDFS US18:00Q4 2016 Earnings CallQ4 2016
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Wednesday, December 7, 2016

Morning Call 12/7

Barchart Morning Call

Barchart.com - 5 hours ago
OVERNIGHT MARKETS AND NEWS
Dec E-mini S&Ps (ESZ16 +0.01%) are up +0.02% and European stocks are up +1.01% at a 7-1/4 month high on optimism the ECB will prolong QE. Expectations are for the ECB at its monthly meeting tomorrow to extend its monthly asset purchases of 80 billion euros by 6 to 9 months. Also, energy producing stocks are higher with Jan WTI crude oil (CLF17-0.55%) up +0.20% after the API reported late yesterday that U.S. oil inventories fell -2.21 million bbl last week. Market anxiety has also fallen since last month's surprise election of Donald Trump as U.S. President as the VIX volatility index dropped to a 3-1/2 month low today. Asian stocks settled mostly higher: Japan +0.74%, Hong Kong +0.55%, China +0.71%, Taiwan +0.14%, Australia +0.91%, Singapore +0.36%, South Korea +0.28%, India -0.59%. India's S&P Sensex Stock Index erased an early rally and closed down -0.59 % after the Reserve Bank of India unexpectedly kept the benchmark repurchase rate unch at 6.25% when expectations were for a -25 bp cut to 6.00%.
The dollar index (DXY00 -0.03%) is unch. EUR/USD (^EURUSD) is up +0.06%. USD/JPY (^USDJPY) is down -0.04%.
Mar 10-year T-note prices (ZNH17 +0.16%) are up +5.5 ticks.
German Oct industrial production rose +0.3% m/m and +1.2% y/y, weaker than expectations of +0.8% m/m and +1.6% y/y.
UK Oct industrial production unexpectedly fell -1.3% m/m, weaker than expectations of +0.2% m/m and the biggest decline in 4 years.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -9.4% with purchase sub-index -0.2% and refi sub-index -16.2%), (2) Oct JOLTS job openings (expected +14,000 to 5.500 million, Sep +33,000 to 5.486 million), (3) Oct consumer credit (expected +$18.3 billion, Sep +$19.292 billion), (4) EIA Weekly Petroleum Status Report.
Russell 1000 earnings reports today include: Costco (consensus $1.19), John Wiley (0.66), Brown-Forman (0.50), Casey's General Stores (1.57), H&R Block (-0.68), lululemon athletica (0.43), Orbital ATK (1.39).
U.S. IPO's scheduled to price today: Collplant Holdings (CQPTD).
Equity conferences during the remainder of this week include: UBS Global Media and Communications Conference on Mon-Wed, Goldman Sachs U.S. Financial Services Conference on Tue-Wed, Wells Fargo Pipeline, MLP and Utility Symposium on Wed, Citi Global Health Care Conference on Wed-Thu, Barclays Global Technology, Media and Telecommunications Conference on Wed-Thu, Bernstein Consumer Summit on Wed-Thu, Capital One Southcoast Energy Conference on Wed-Thu, ACI European Biopolymer Summit on Thu.
OVERNIGHT U.S. STOCK MOVERS
Discover Financial Services (DFS +1.38%) was upgraded to 'Outperform' from 'Neutral' at Wedbush with a 12-month target price of $78.
Best Buy (BBY +0.23%) was rated a new 'Buy' at Loop Capital with a price target of $58.
ABIOMED (ABMD +2.72%) was rated a new 'Buy' at Guggenheim Securities with a 12-month target price of $150.
MasterCard (MA -1.50%) gained almost 1% in after-hours trading after it boosted its quarterly dividend to 22 cents a share from 19 cents, and then approved a $4 billion stock buyback program, effective upon completion of a previous program that has $1.3 billion remaining.
Western Digital (WDC +2.83%) rallied over 5% in after-hours trading after it renewed a royalty-bearing cross licensing agreement with Samsung through 2024, and then raised guidance on Q2 adjusted EPS to $2.10-$2.15 from an October 26 view of $1.85-$1.95.
Dave & Buster's Entertainment (PLAY -1.70%) jumped 12% in after-hours trading after it reported Q3 EPS of 25 cents, well above consensus of 14 cents, and then raised guidance on fiscal 2017 comparable store sales to up +3.1%-3.6% from a prior view of +2.25%-3.25%.
Bluebird Bio (BLUE +9.42%) fell over 2% in after-hours trading after it proposed a $200 million stock offering.
HealthEquity (HQY -2.76%) dropped over 4% in after-hours trading after it reported Q3 EPS of 10 cents, below consensus of 12 cents.
AeroVironment (AVAV +2.66%) tumbled nearly 10% in after-hours trading after it reported a Q2 loss per share of -18cents, a much bigger loss than expectations of -1 cent, and then said it sees a Q3 loss per share of -34 cents to -38 cents, more than consensus of -24 cents.
Ensco PLC (ESV +4.55%) declined over 6% in after-hours trading after it started a private placement of $650 million senior notes due 2014.
Sigma Designs (SIGM +1.31%) sank over 10% in after-hours trading after it said it expects Q4 revenue of $42 million-$45 million, weaker than consensus of $57.4 million.
TerraForm Power (TERP +1.83%) slid nearly 2% in after-hours trading after it said it sees completing the rest of its 2016 filings and regaining full compliance by March.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ16 +0.01%) this morning are up +0.50 of a point (+0.02%). Tuesday's closes: S&P 500 +0.34%, Dow Jones +0.18%, Nasdaq +0.22%. The S&P 500 on Tuesday closed higher on carry-over support from a rally in European stocks to a 3-week high on expectations that the ECB this Thursday will extend QE past March of next year. Stocks were also boosted by the +2.7% increase in U.S. Oct factory orders, stronger than expectations of +2.6% and the biggest increase in 16 months. Stocks were undercut by the U.S. Oct trade deficit of -$42.6 billion, which was wider than expectations of -$42.0 billion and was negative for Q4 GDP. There was also weakness in energy producer stocks as crude oil prices fell -1.70%.
Mar 10-year T-notes (ZNH17 +0.16%) this morning are up +5.5 ticks. Tuesday's closes: TYH7 unch, FVH7 +1.00. Mar 10-year T-notes on Tuesday closed little changed. T-notes were boosted by the the wider-than-expected U.S. Oct trade deficit, which was negative for Q4 GDP. T-notes were also boosted by the slide in crude oil prices, which undercut inflation expectations. T-note prices were undercut by the +2.7% increase in U.S. Oct factory orders, their biggest increase in 16 months.
The dollar index (DXY00 -0.03%) this morning is unch. EUR/USD (^EURUSD) is +0.0006 (+0.06%). USD/JPY (^USDJPY) is -0.05 (-0.04%). Tuesday's closes: Dollar index +0.400 (+0.40%), EUR/USD -0.0046 (-0.43%), USD/JPY +0.17 (+0.15%). The dollar index on Tuesday closed higher on the stronger than expected U.S. Oct factory orders report and by weakness in EUR/USD on expectations that the ECB on Thursday will announce an extension of QE beyond March of 2017.
Jan WTI crude oil prices (CLF17 -0.55%) this morning are up +10 cent s(+0.20%) and Jan gasoline (RBF17 -0.18%) is +0.0064 (+0.42%). Tuesday's closes: Jan crude -0.88 (-1.70%), Jan gasoline -0.0158 (-1.01%). Jan crude oil and gasoline on Tuesday closed lower on a stronger dollar and on news that OPEC Nov crude production rose by +200,000 bpd to a record 34.160 million bpd.
GLOBAL EVENT CALENDAR12/07/2016
Wednesday, Dec 7
US0700 ETWeekly MBA mortgage applications, previous -9.4% with purchase sub-index -0.2% and refi sub-index -16.2%.
1000 ETOct JOLTS job openings expected +14,000 to 5.500 million, Sep +33,000 to 5.486 million.
1030 ETEIA Weekly Petroleum Status Report.
1500 ETOct consumer credit expected +$18.3 billion, Sep +$19.292 billion.
Thursday, Dec 8
US0830 ETWeekly initial unemployment claims expected -13,000 to 255,000, previous +17,000 to 268,000. Weekly continuing claims expected -33,000 to 2.048 million, previous +38,000 to 2.081 million.
0830 ETUSDA weekly Export Sales.
1100 ETTreasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $23 billion) and 30-year T-bonds (previous $15 billion) to be auctioned Dec 12-13.
U.S. STOCK CALENDAR12/07/2016

CompanyTickerTimeEvent DescriptionPeriodEstimate
Brown-Forman CorpBF/B US8:00Q2 2017 Earnings ReleaseQ2 20170.498
Starbucks CorpSBUX US8:00Investor DayY 2016
Principal Financial Group IncPFG US8:00RoadshowY 2016
Xerox CorpXRX US9:00Investor ConferenceY 2016
Brown-Forman CorpBF/B US10:00Q2 2017 Earnings CallQ2 2017
Lowe's Cos IncLOW US10:00Analyst & Investor ConferenceY 2016
H&R Block IncHRB US16:30Q2 2017 Earnings CallQ2 2017
Costco Wholesale CorpCOST US17:00Q1 2017 Earnings CallQ1 2017
H&R Block IncHRB USAft-mktQ2 2017 Earnings ReleaseQ2 2017-0.675
Costco Wholesale CorpCOST USAft-mktQ1 2017 Earnings ReleaseQ1 20171.187
Baker Hughes IncBHI USNovember 2016 Sales and Revenue Release - Rig Counts2016
Equifax IncEFX USInvestor MeetingY 2016
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