Showing posts with label IBKR. Show all posts
Showing posts with label IBKR. Show all posts

Wednesday, April 19, 2017

MORNING CALL 4/19

Barchart Morning Call

Barchart.com - Wed Apr 19, 6:37AM CDT
OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM17 +0.27%) this morning are up +0.27% and European stocks are up +0.37%. A 4% rally in Morgan Stanley in pre-market trading is giving banking stocks a boost after it reported Q1 revenue of $9.75 billion, higher than expectations of $9.29 billion. Energy producing stocks are higher as well with May WTI crude oil (CLK17 +0.13%) up +0.29% after the API reported Tuesday afternoon that U.S. crude stockpiles fell -840,000 bbl last week. Strength in automakers is giving European stocks a lift after Eurozone Mar new car registrations rose +11.2% y/y. The U.S. markets await the Fed's Beige Book, to be released this afternoon, as to clues for the future direction of monetary policy. Asian stocks settled mostly lower: Japan +0.07%, Hong Kong -0.41%, China -0.81%, Taiwan -1.09%, Australia -0.56%, Singapore -0.36%, South Korea -0.63%, India +0.06%. China's Shanghai Composite fell to a 2-1/4 month low on concern that China's securities regulators will impose stricter regulations on the market after the president of the China Securities Regulatory Commission called on China's bourses to "show swords" and crack down on behavior that disrupts the market order "without mercy."
The dollar index (DXY00 +0.13%) is up +0.12%. EUR/USD (^EURUSD) is down -0.02%. USD/JPY (^USDJPY) is up +0.43%.
Jun 10-year T-note prices (ZNM17 -0.23%) are down -7 ticks.
ECB Governing Council member Hansson said growth rates in the Eurozone are "probably higher than potential" and the "output gap is closing" but at the same time, it's too early for the ECB to rush with concrete actions and claim victory over weak inflation, which remains volatile.
Eurozone Mar new car registrations rose +11.2% y/y to 1,891,583 million and are up +8.4% year-to-date at 4,141,269.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +1.5% with purchase sub-index +2.9% and refi sub-index unch), (2) Boston Fed President Eric Rosengren (non-voter) speaks at a conference at the Levy Economics Institute of Bard College, (3) Fed Beige Book, (4) EIA Weekly Petroleum Status Report.
Notable Russell 1000 earnings reports today include: Morgan Stanley (consensus $0.89), US Bancorp (0.80), Blackrock (4.89), Abbott Labs (0.43), AMEX (1.27), Kinder Morgan (0.18), eBay (0.48).
U.S. IPO's scheduled to price today: none.
Equity conferences: none.
OVERNIGHT U.S. STOCK MOVERS
Morgan Stanley (MS -0.67%) jumped 4% in pre-market trading after it reported Q1 revenue of $9.75 billion, higher than consensus of $9.29 billion.
Fastenal (FAST -3.36%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse with a target price of $52.
Lam Research (LRCX +0.08%) gained almost 4% in after-hours trading after it reported Q3 adjusted EPS of $2.80, higher than consensus of $2.57.
Intuitive Surgical (ISRG -1.16%) rallied over 3% in after-hours trading after it reported Q1 adjusted EPS of $5.09, better than consensus of $4.95.
Bank of America (BAC -0.44%) was upgraded to 'Strong Buy' from 'Market Outperform' at Vining Sparks with a price target of $28.
Eli Lilly (LLY -1.43%) was downgraded to 'Underperform' from 'Market Perform' at BMO Capital Markets.
International Business Machines (IBM -0.61%) dropped 4% in after-hours trading after it reported Q1 revenue of $18.2 billion, below consensus of $18.4 billion and the 20th straight quarterly revenue decline.
Allstate (ALL -1.46%) was downgraded to 'Neutral' from 'Outperform' at Macquarie Research.
ICU Medical (ICUI -0.68%) fell over 2% in after-hours trading after it received a grand jury subpoena in connection with the Hospira Infusion Systems business it acquired from Pfizer in February.
LegacyTexas Financial Group (LTXB -0.13%) sold-off nearly 7% in after-hours trading after it reported Q1 core EPS of 37 cents, well below consensus of 58 cents.
Ultragenyx Pharmaceutical (RARE -2.23%) surged nearly 20% in after-hours trading after its Burosumab drug met the primary endpoint and demonstrated a statistically significant improvement is serum phosphorous levels in a Phase 3 study in adults with X-linked hypophosphatemia.
Interactive Brokers Group (IBKR +0.84%) lost nearly 3% in after-hours trading after it reported Q1 net revenue of $374 million, below consensus of $393.4 million.
CalAmp (CAMP -0.93%) climbed nearly 3% in after-hours trading after it reported Q4 adjusted EPS of 28 cents, above consensus of 27 cents.
Diana Shipping (DSX -8.59%) dropped 7% in after-hours trading after it announced that it had commenced an underwritten public offering of $70 million of common shares.
Nivalis Therapeutics (NVLS -4.69%) surged over 25% in after-hours trading after it announced a merger agreement with Alpine Immune Sciences with Alpine becoming a wholly-owned subsidiary of Nivalis.
MARKET COMMENTS
Jun E-mini S&Ps (ESM17 +0.27%) this morning are up +6.25 points (+0.27%). Tuesday's closes: S&P 500 -0.29%, Dow Jones -0.55%, Nasdaq -0.14%. The S&P 500 on Tuesday closed lower on the unexpected -0.4% drop in U.S. Mar manufacturing production, weaker than expectations of unchanged and the biggest decline in 7 months. Other weak economic data included the -6.8% drop in U.S. Mar housing starts to 1.215 million, weaker than expectations of -3.0% to 1.25 million. There was weakness in bank stocks led by a -4.7% fall in Goldman Sachs after it reported Q1 net revenue of $8.03 billion, weaker than consensus of $8.33 billion, as bond trading revenue declined.
Jun 10-year T-notes (ZNM17 -0.23%) this morning are down -7 ticks. Tuesday's closes: TYM7 +19.50, FVM7 +10.75. Jun T-notes on Tuesday rallied to a new 5-1/4 month high and closed higher on reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 5-month low. T-notes were also boosted by increased safe-haven demand with the sell-off in stocks.
The dollar index (DXY00 +0.13%) this morning is up +0.123 (+0.12%). EUR/USD (^EURUSD) is -0.0002 (-0.02%) and USD/JPY (^USDJPY) is up +0.47 (+0.43%). Tuesday's closes: Dollar index -0.791 (-0.79%), EUR/USD +0.0087 (+0.82%), USD/JPY -0.48 (-0.44%). The dollar index on Tuesday dropped to a 2-1/2 week low and closed lower on the weaker-than-expected U.S. Mar housing starts report and U.S. Mar manufacturing production report. The dollar was also undercut by a surge in GBP/USD to a 6-1/4 month high after U.K. Prime Minister May called for early elections in June, which bolstered speculation that Prime Minister May's Conservative party will strengthen her hand on negotiating Brexit.
May WTI crude oil prices (CLK17 +0.13%) this morning are up +15 cents (+0.29%) and May gasoline (RBK17 -0.42%) is -0.0065 (-0.38%). Tuesday's closes: May crude -0.24 (-0.46%), May gasoline -0.0086 (-0.50%). May crude oil and gasoline on Tuesday fell to 1-week lows and closed lower. Oil prices were undercut by concern about increasing U.S. crude production after last Friday's data from Baker Hughes showed U.S. active oil rigs in the week ended Apr 14 rose +11 to 683, the most in 1-3/4 years. In addition, the crack spread fell to a 3-week low, which may curb refinery demand for crude to refine into gasoline. Oil prices were supported by the slide in the dollar index to a 2-1/2 week low, reduced global supplies after Saudi Arabia Feb oil exports fell to a 21-month low of 6.95 million bpd, and expectations for Wednesday's weekly EIA crude inventories to fall -1.4 million bbl.
GLOBAL EVENT CALENDAR04/19/2017
Wednesday, Apr 19
US0700 ETWeekly MBA mortgage applications, previous +1.5% with purchase sub-index +2.9% and refi sub-index unch.
1030 ETEIA Weekly Petroleum Status Report.
1200 ETBoston Fed President Eric Rosengren (non-voter) speaks at a conference at the Levy Economics Institute of Bard College.
1400 ETFed Beige Book.
Thursday, Apr 20
US0830 ETWeekly initial unemployment claims expected +6,000 to 240,000, previous -1,000 to 234,000. Weekly continuing claims expected -4,000 to 2.024 million, previous -7,000 to 2.028 million.
0830 ETApr Philadelphia Fed business outlook survey expected -7.0 to 25.8, Mar -10.5 to 32.8.
0830 ETUSDA weekly Export Sales.
1000 ETMar leading indicators expected +0.2%, Feb +0.6%.
1100 ETTreasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $15 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Apr 25-27.
1300 ETTreasury auctions $16 billion of 5-year TIPS.
U.S. STOCK CALENDAR04/19/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
US BancorpUSB USBef-mktQ1 2017 Earnings ReleaseQ1 170.80
Huntington Bancshares Inc/OHHBAN USBef-mktQ1 2017 Earnings ReleaseQ1 170.218
BlackRock IncBLK US06:30Q1 2017 Earnings ReleaseQ1 174.889
Textron IncTXT US06:30Q1 2017 Earnings ReleaseQ1 170.46
Morgan StanleyMS US07:00Q1 2017 Earnings ReleaseQ1 170.893
Abbott LaboratoriesABT US07:30Q1 2017 Earnings ReleaseQ1 170.43
AutoNation IncAN US08:00Annual General Meeting
Navient CorpNAVI US08:00Q1 2017 Earnings CallQ1 17
Textron IncTXT US08:00Q1 2017 Earnings CallQ1 17
Morgan StanleyMS US08:30Q1 2017 Earnings CallQ1 17
BlackRock IncBLK US08:30Q1 2017 Earnings CallQ1 17
Genuine Parts CoGPC US08:30Q1 2017 Earnings ReleaseQ1 171.05
US BancorpUSB US09:00Q1 2017 Earnings CallQ1 17
Huntington Bancshares Inc/OHHBAN US09:00Q1 2017 Earnings CallQ1 17
Abbott LaboratoriesABT US09:00Q1 2017 Earnings CallQ1 17
CR Bard IncBCR US10:00Annual General Meeting
Kraft Heinz Co/TheKHC US11:00Annual General Meeting
Genuine Parts CoGPC US11:00Q1 2017 Earnings CallQ1 17
DISH Network CorpDISH USQ1 2017 Earnings ReleaseQ1 170.679
EQT CorpEQT USAnnual General Meeting
Sherwin-Williams Co/TheSHW USAnnual General Meeting
Teradata CorpTDC USAnnual General Meeting
CSX CorpCSX USAft-mktQ1 2017 Earnings ReleaseQ1 170.434
United Rentals IncURI USAft-mktQ1 2017 Earnings ReleaseQ1 171.518
SL Green Realty CorpSLG USAft-mktQ1 2017 Earnings ReleaseQ1 171.575
American Express CoAXP USAft-mktQ1 2017 Earnings ReleaseQ1 171.271
QUALCOMM IncQCOM USAft-mktQ2 2017 Earnings ReleaseQ2 171.185
Torchmark CorpTMK US16:05Q1 2017 Earnings ReleaseQ1 171.141
Kinder Morgan Inc/DEKMI US16:05Q1 2017 Earnings ReleaseQ1 170.178
eBay IncEBAY US16:30Q1 2017 Earnings ReleaseQ1 170.478
Kinder Morgan Inc/DEKMI US16:30Q1 2017 Earnings CallQ1 17
QUALCOMM IncQCOM US16:45Q2 2017 Earnings CallQ2 17
eBay IncEBAY US17:00Q1 2017 Earnings CallQ1 17
American Express CoAXP US17:00Q1 2017 Earnings CallQ1 17
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Wednesday, January 18, 2017

MORNING CALL 1/18

Barchart Morning Call

Barchart.com - 1 hour ago
OVERNIGHT MARKETS AND NEWS
Mar E-mini S&Ps (ESH17 +0.03%) are up +0.06% ahead of data on U.S. Dec consumer prices and industrial production, while European stocks are down -0.16% ahead of Thursday's ECB meeting and any indications from the central bank on when it may begin to taper stimulus. The upside in stocks is limited as Feb WTI crude prices (CLG17 -1.64%) are down -1.26%, which is undercutting energy producing stocks. Crude prices retreated after IEA Executive Director Fatih Birol said he sees U.S. shale-oil output rising "in significant terms" due to the recent rally in oil prices and that there will be "lots more' supply in late 2017/early 2018. Asian stocks settled mixed: Japan +0.43%, Hong Kong +1.13%, China +0.14%, Taiwan -0.13%, Australia -0.36%, Singapore -0.42%, South Korea -0.11%, India +0.08%. Japan's Nikkei Stock Index recovered from a 1-1/4 month low and closed higher after USD/JPY rebounded from a 1-1/2 month low and moved higher, which fueled a rally in exporter stocks.
The dollar index (DXY00 +0.37%) is up +0.34%. EUR/USD (^EURUSD) is down -0.23%. USD/JPY (^USDJPY) is up +0.66%.
Mar 10-year T-note prices (ZNH17 -0.20%) are down -8 ticks after comments from San Francisco Fed President Williams who said that "further gradual increases in the target fed funds rate will likely be appropriate."
San Francisco Fed President Williams said late Tuesday that "further gradual increases in the target fed funds rate will likely be appropriate" to keep the U.S. economy on a sustainable course and avoid excess inflation or damaging asset bubbles.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +5.8% with purchase sub-index +6.1% and refi sub-index +4.4%), (2) Dec CPI (expected +0.3% m/m and +2.1% y/y, Nov +0.2% m/m and +1.7% y/y) and Dec CPI ex food & energy (expected +0.2% m/m and +2.1% y/y, Nov +0.2% m/m and +2.1% y/y), (3) Dallas Fed President Robert Kaplan (voter) will speak at a panel discussion at the Dallas Fed followed by media and audience Q&A, (4) Dec industrial production (expected +0.6%, Nov -0.4%), (5) Jan NAHB housing market index (expected -1 to 69, Dec +7 to 70), (6) Minneapolis Fed President Neel Kashkari (voter) discusses the economy at the Minneapolis Urban League, (7) Fed Chair Janet Yellen speaks at the Commonwealth Club in San Francisco.
S&P 500 earnings reports today include: Goldman Sachs (consensus $4.84), Citigroup (1.12), Schwab (0.46), US Bancorp (0.81), Fastenal (0.38), Northern Trust (1.13), Netflix (0.13), Kinder Morgan (0.18).
U.S. IPO's scheduled to price today: none.
Equity conferences today: TD Securities Mining Conference on Wed, ACI Future of Polyolefins Summit on Thu.
OVERNIGHT U.S. STOCK MOVERS
Goldman Sachs (GS -3.50%) fell 2% in pre-market trading after it reported Q4 EPS of $5.08, higher than consensus of $4.84, but said Q4 equities and trading revenue was $1.59 billion, below consensus of $1.61 billion.
Wells Fargo (WFC -2.77%) was downgraded to 'Hold' from 'Buy' at Argus.
McKesson (MCK +0.85%) was upgraded to 'Market Outperform' from 'Market Perform' at Avondale Partners LLC with a 12-month target price of $193.
Hancock Holding (HBHC -3.46%) reported Q4 EPS of 64 cents, stronger than consensus of 61 cents.
Linear Technology (LLTC -0.05%) reported Q2 revenue of $375.8 million, higher than consensus of $373.8 million.
HP Enterprise (HPE -1.09%) bought Simplivity for $650 million in cash.
Toys R Us (TOY) reported that same-store comparable sales for the 9-week period ended December 31, fell =3.4%.
San Francisco Fed President Williams (non-voter) said more gradual interest rate increases will likely be needed, given a "strong" U.S. economy that's reached full employment with inflation approaching 2%.
United Continental Holdings (UAL -0.78%) lost over 1% in after-hours trading after it forecast Q1 Prasm growth of down -1% to up +1%, weaker than consensus of up +0.5% to +1.5%.
CSX Corp. (CSX -1.83%) dropped 3% in after-hours trading after it reported Q4 EPS of 49 cents, below consensus of 50 cents.
Neurocrine Biosciences (NBIX -4.92%) fell nearly 5% in after-hours trading after it said a Phase II clinical study of its Ingrezza to treat adults with Tourette syndrome did not meet its pre-specified primary endpoint.
Jazz Pharmaceuticals (JAZZ -1.47%) slid 4% in after-hours trading after the U.S. FDA said it approved the first generic version of Jazz's Xyrem drug to treat patients with narcolepsy.
Teladoc (TDOC -5.18%) dropped 5% in after-hours trading after certain stock holders are reportedly offering to sell 7.25 million shares of stock.
Interactive Brokers Group (IBKR -1.96%) fell over 2% in after-hours trading after it reported an unexpected Q4 comprehensive loss of -5 cents a share, much weaker than consensus for Q4 adjusted EPS to climb 35 cents.
Shiloh Industries (SHLO -3.23%) jumped 11% in after-hours trading after it reported Q4 adjusted EPS of 50 cents, well above consensus of 18 cents.
Almost Family (AFAM +1.48%) sank 9% in after-hours trading after it announced a proposed underwritten public offering of 2.5 million shares of common stock.
Gigamon (GIMO -2.87%) plunged over 20% in after-hours trading after it reported preliminary Q4 revenue of $84.5 million-$85 million, below consensus of $92.2 million.
MARKET COMMENTS
Mar E-mini S&Ps (ESH17 +0.03%) this morning are up +1.25 points (+0.06%). Tuesday's closes: S&P 500 -0.30%, Dow Jones -0.30%, Nasdaq -0.29%. The S&P 500 on Tuesday closed lower on Mr. Trump's opposition to the border-adjustment tax system proposed by House Republicans, which suggests that the corporate tax rate will not be lowered by as much as earlier hoped. There was also carry-over weakness from a slide in European stocks to a 2-weeke low on concerns about Brexit after UK Prime Minister May pledged to take Britain out of the European Union. Stocks recovered from their worst levels on upbeat comments from New York Fed President Dudley (voter) who said "I am optimistic that the economic expansion will continue over the next few years."
Mar 10-year T-notes (ZNH17 -0.20%) this morning are down -8 ticks. Tuesday's closes: TYH7 +14.50, FVH7 +10.00. Mar 10-year T-notes on Tuesday closed higher as the 10-year T-note yield fell to a 1-1/2 month low. T-note prices were boosted by comments from New York Fed President Dudley that dampened inflation concerns when he said "the recent strengthening of the dollar will put downward pressure on import prices and limit the ability of domestic producers to raise their prices."
The dollar index (DXY00 +0.37%) this morning is up 0.34 (+0.34%). EUR/USD (^EURUSD) is down -0.0025 (-0.23%). USD/JPY (^USDJPY) is up +0.74 (+0.66%). Tuesday's closes: Dollar index -0.87 (-0.86%), EUR/USD +0.0112 (+1.06%), USD/JPY -1.58 (-1.3%). The dollar index on Tuesday slid to a 1-1/4 month low and closed lower on comments from President-elect Trump who told the WSJ that the U.S. dollar is "too strong" in part because China holds down its currency. There was also strength in EUR/USD which posted a 1-1/4 month high after the German Jan ZEW survey expectations of economic growth rose to a 7-month high.
Feb WTI crude oil prices (CLG17 -1.64%) this morning are down -66 cents (-1.26%) and Feb gasoline (RBG17 -1.18%) is -0.0122 (-0.76%). Tuesday's closes: Feb crude +0.16 (+0.31%), Feb gasoline -0.0095 (-0.59%). Feb crude oil and gasoline on Tuesday settled mixed with Feb crude oil at a 1-week high. Crude oil prices were boosted by the sell-off in the dollar index to a 1-1/4 month low and by expectations that Thursday's weekly EIA data will show U.S. crude inventories fell -1.3 million bbl. Gasoline closed lower on expectations that Thursday's weekly EIA data will show gasoline supplies rose +2.0 million bbl.
GLOBAL EVENT CALENDAR01/18/2017
Wednesday, Jan 18
US0700 ETWeekly MBA mortgage applications, previous +5.8% with purchase sub-index +6.1% and refi sub-index +4.4%.
0830 ETDec CPI expected +0.3% m/m and +2.1% y/y, Nov +0.2% m/m and +1.7% y/y. Dec CPI ex food & energy expected +0.2% m/m and +2.1% y/y, Nov +0.2% m/m and +2.1% y/y.
0900 ETDallas Fed President Robert Kaplan (voter) will speak at a panel discussion at the Dallas Fed followed by media and audience Q&A.
0915 ETDec industrial production expected +0.6%, Nov -0.4%. Dec manufacturing production expected +0.5%, Nov -0.1%. Dec capacity utilization expected +0.4 to 75.4%, Nov -0.4 to 75.0%.
1000 ETJan NAHB housing market index expected -1 to 69, Dec +7 to 70.
1100 ETMinneapolis Fed President Neel Kashkari (voter) discusses the economy at the Minneapolis Urban League.
1500 ETFed Chair Janet Yellen speaks at the Commonwealth Club in San Francisco.
Thursday, Jan 19
US0830 ETWeekly initial unemployment claims expected +5,000 to 252,000, previous +10,000 to 247,000. Weekly continuing claims expected -12,000 to 2.075 million, previous -29,000 to 2.087 million.
0830 ETDec housing starts expected +8.9% to 1.187 million, Nov 18.7% to 1.090 million. Dec building permits expected +1.1% to 1.225 million, Nov -3.8% to 1.212 million.
0830 ETJan Philadelphia Fed business outlook survey expected -5.5 to 16.0, Dec +13.9 to 21.5.
1100 ETEIA Weekly Petroleum Status Report.
1100 ETTreasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Jan 24-26.
1300 ETTreasury auctions $13 billion of 10-year TIPS.
2000 ETFed Chair Janet Yellen speaks to the Stanford Institute for Economic Policy Research.
U.S. STOCK CALENDAR01/18/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Charles Schwab Corp/TheSCHW USBef-mktQ4 2016 Earnings ReleaseQ4 20160.358
US BancorpUSB USBef-mktQ4 2016 Earnings ReleaseQ4 20160.809
Fastenal CoFAST US7:00Q4 2016 Earnings ReleaseQ4 20160.379
Northern Trust CorpNTRS US7:30Q4 2016 Earnings ReleaseQ4 20161.125
Goldman Sachs Group Inc/TheGS US7:30Q4 2016 Earnings ReleaseQ4 20164.838
Citigroup IncC US8:00Q4 2016 Earnings ReleaseQ4 20161.119
CSX CorpCSX US8:30Q4 2016 Earnings CallQ4 2016
US BancorpUSB US9:00Q4 2016 Earnings CallQ4 2016
Goldman Sachs Group Inc/TheGS US9:30Q4 2016 Earnings CallQ4 2016
Fastenal CoFAST US10:00Q4 2016 Earnings CallQ4 2016
United Continental Holdings IncUAL US10:30Q4 2016 Earnings CallQ4 2016
Micron Technology IncMU US11:00Annual General MeetingY 2017
Citigroup IncC US11:00Q4 2016 Earnings CallQ4 2016
Northern Trust CorpNTRS US12:00Q4 2016 Earnings CallQ4 2016
Netflix IncNFLX US16:05Q4 2016 Earnings ReleaseQ4 20160.132
Kinder Morgan Inc/DEKMI US16:30Q4 2016 Earnings CallQ4 2016
Netflix IncNFLX US17:00Q4 2016 Earnings CallQ4 2016
Kinder Morgan Inc/DEKMI USAft-mktQ4 2016 Earnings ReleaseQ4 20160.18
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