Showing posts with label IRM. Show all posts
Showing posts with label IRM. Show all posts

Thursday, February 23, 2017

MORNING CALL 2/23

Barchart Morning Call

Barchart.com - Thu Feb 23, 6:35AM CST
OVERNIGHT MARKETS AND NEWS
Mar E-mini S&Ps (ESH17 +0.04%) are up +0.06% and European stocks are up +0.08% on strength in energy producing stocks. Chesapeake Energy and Haliburton are both up over 1.5% in pre-market trading on strength in crude oil prices. Apr WTI crude oil (CLJ17 +1.42%) is up +1.31% after the API late Wednesday reported that U.S. crude inventories fell -884,000 bbl last week. European bank stocks are higher as well, led by a 2% gain in Barclays Plc, after it reported that its common equity Tier 1 ratio, a measure of capital strength, rose to 12.4% from 11.6% at the end of Q3, higher than expectations of an increase to 11.8%. Gains in stocks were limited on concern the Fed may raise interest rates sooner than expected after the minutes of the Jan 31-Feb 1 FOMC meeting stated that Fed officials saw a rate increase "fairly soon" if the economy stays on track. Asian stocks settled mostly lower: Japan -0.04%, Hong Kong -0.36%, China -0.30%, Taiwan -0.10%, Australia -0.35%, Singapore +0.49%, South Korea +0.01%, India +0.10%.
The dollar index (DXY00 -0.06%) is up +0.06%. EUR/USD (^EURUSD) is down -0.07%. USD/JPY (^USDJPY) is down -0.04%.
Mar 10-year T-note prices (ZNH17 +0.15%) are up +4.5 ticks.
ECB Executive Board member Praet said that underlying inflation "continues to remain very subdued and has yet to show clear signs of a more dynamic upward movement." He added that "the recovery in the Eurozone is firming," but still relies on a "substantial degree of accommodation."
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +1,000 to 240,000, previous +5,000 to 239,000) and continuing claims (expected -8,000 to 2.068 million, previous -3,000 to 2.076 million), (2) Jan Chicago Fed national activity index (expected -0.14 to 0.00, Dec +0.47 to 0.14), (3) Dec FHFA house price index (expected +0.5%, Nov +0.5% m/m), (4) Feb Kansas City Fed manufacturing activity index (expected unch at 9, Jan unch at 9), (5) Treasury auctions $28 billion of 7-year T-notes, (6) EIA Weekly Petroleum Status Report, (7) USDA Jan Cold Storage.
Notable S&P 500 earnings reports today include: HP Enterprise (consensus $0.44), Kohl's (1.33), Gap (0.51), Nordstrom (1.15), Intuit (0.25), and others.
U.S. IPO's scheduled to price today: none.
Equity conferences: CAGNY Investor Conference on Tue-Fri, Barclays Industrial Select Conference on Wed-Thu, RBC Capital Markets Health Care Conference on Wed-Thu, Cantor Fitzgerald Internet & Technology Services Conference on Thu.
OVERNIGHT U.S. STOCK MOVERS
Home Depot (HD +0.16%) was upgraded to 'Overweight' from 'Equalweight' at Morgan Stanley with a price target of $165.
NVIDIA (NVDA -0.28%) fell 3% in after-hours trading after it was downgraded to 'Reduce' from 'Buy' at Nomura Instinet.
Square (SQ +2.80%) climbed 6% in after-hours trading after it reported Q4 adjusted EPS of 5 cents, above consensus of 3 cents.
Jack in the Box (JACK -3.51%) dropped nearly 10% in after-hours trading after it reported Q1 adjusted operating EPS of $1.18, weaker than consensus of $1.24, and said it sees full-year operating EPS of $4.25-$4.45, below consensus of $4.71.
Ctrip.com International Ltd (CTRP +1.13%) gained over 1% in after-hours trading after it reported Q4 profit per ADS of 17 cents, above consensus of 15 cents.
L Brands (LB +0.75%) plunged 12% in after-hours trading after it said it sees Q1 EPS of 20 cents-25 cents, weaker than consensus of 49 cents, and then lowered guidance on full-year EPS to $3.05-$3.35, weaker than consensus of $3.69.
CoStar Group (CSGP -0.64%) fell over 5% in after-hours trading after it said it sees Q1 adjusted EPS of 92 cents-97 cents, weaker than consensus of $1.13, and lowered guidance on full-year adjusted EPS to $4.18-$4.28, below consensus of $4.95.
Boston Beer Co. (SAM -1.13%) declined 7% in after-hours trading after it said it sees full-year EPS of $4.20 to $6.20, below consensus of $6.44.
ARRIS International PLC (ARRS +2.50%) tumbled over 8% in after-hours trading after it said it will buy Brocade's Ruckus Wireless and ICX units for $800 million.
Tessera Holding (TSRA unch) sank nearly 9% in after-hours trading after it reported Q4 adjusted EPS of 45 cents, well below consensus of 58 cents, and said it sees Q1 revenue of $60 million-$63 million, less than consensus of $72.9 million.
AxoGen (AXGN -0.94%) lost 3% in after-hours trading after it reported a Q4 adjusted loss per share of -10 cents, wider than consensus of -9 cents.
Ultra Clean Holdings (UCTT +1.62%) surged over 10% in after-hours trading after it reported Q4 revenue of $174.5 million, better than consensus of $173 million, and then said it expects Q1 revenue of $190 million-$197 million, above consensus of $168.3 million.
Bellicum Pharmaceuticals (BLCM -4.48%) climbed nearly 5% in after-hours trading after it said updated results from a BP-004 trial of its BPX-501 and rimiducid show "consistent, durable outcomes" at 6 and 12 months with rapid immune recovery in patients with inherited blood disorders and hematological cancers and "very low" incidence of graft-versus-host disease.
Endologix (ELGX +0.62%) dropped nearly 6% in after-hours trading after it reported Q4 revenue of $47.5 million, less than consensus of $48.7 million.
Foundation Medicine (FMI -2.45%) fell 5% in after-hours trading after it reported Q4 revenue of $28.8 million, below consensus of $29.2 million.
MARKET COMMENTS
Mar E-mini S&Ps (ESH17 +0.04%) this morning are up +1.50 ponts (+0.06%). Wednesday's closes: S&P 500 -0.11%, Dow Jones +0.16%, Nasdaq +0.03%. The S&P 500 on Wednesday closed slightly lower on the Jan 31-Feb 1 FOMC meeting minutes that said policy makers saw a Fed rate hike "fairly soon." There was also weakness in energy producing stocks as the price of crude oil fell -0.85%. A supportive factor was the +3.5% rise in U.S. Jan existing home sales to a 9-3/4 year high of 5.69 million.
Mar 10-year T-notes (ZNH17 +0.15%) this morning are up +4.5 ticks. Wednesday's closes: TYH7 +2.00, FVH7 +1.00. Mar 10-year T-notes on Wednesday rose to a 1-week high and closed higher on carry-over support from a rally in German bunds to a 1-1/2 month high on increased safe-haven demand due to political risks in France. T-notes were also boosted by the -0.85% slide in crude oil prices, which reduced inflation expectations. T-note prices were undercut by the larger-than-expected increase in U.S. Jan existing home sale to their highest in 9-3/4 years, and by weak demand for the Treasury's $34 billion 5-year T-note auction that had a bid-to-cover ratio of 2.29, weaker than the 12-auction average of 2.45 and the lowest in 7 months.
The dollar index (DXY00 -0.06%) this morning is up +0.06 (+0.06%). EUR/USD (^EURUSD) is down -0.0007 (-0.07%). USD/JPY (^USDJPY) is down -0.04 (-0.04%). Wednesday's closes: Dollar index -0.15 (-0.15%), EUR/USD +0.0022 (+0.21%), USD/JPY -0.37 (-0.33%). The dollar index on Wednesday closed lower on a recovery in EUR/USD which rebounded from a 5-week low and moved higher on reduced French presidential election concerns after candidate Bayrou dropped out of the race and said he will back candidate Macron, which improves Macron's chances that he will beat Marine Le Pen in the French presidential election. The dollar was supported by the larger-than-expected increase in U.S. Jan existing home sales and by the minutes of the Jan 31-Feb 1 FOMC meeting that said that many FOMC members supported a Fed rate hike "fairly soon."
Apr WTI crude oil (CLJ17 +1.42%) prices this morning are up +70 cents (+1.31%) and Apr gasoline (RBJ17 +0.97%) is up +0.0148 (+0.85%). Wednesday's closes: Apr crude -0.46 (-0.85%), Apr gasoline +0.0109 (+0.63%). Apr crude oil and gasoline on Wednesday settled mixed. Crude oil prices were boosted by a weaker dollar and the jump in the crack spread to a 3-1/2 month high, which may boost crude demand from refineries to refine crude into gasoline. Crude oil closed lower on expectations for Thursday's weekly EIA crude inventories to climb +3.5 million bbl to another record high.
GLOBAL EVENT CALENDAR02/23/2017
Thursday, Feb 23
US0830 ETWeekly initial unemployment claims expected +1,000 to 240,000, previous +5,000 to 239,000. Weekly continuing claims expected -11,000 to 2.065 million, previous -3,000 to 2.076 million.
0830 ETJan Chicago Fed national activity index expected -0.17 to -0.03, Dec +0.47 to 0.14.
0900 ETDec FHFA house price index expected +0.5%, Nov +0.5% m/m. Q4 house price purchase index expected +0.4% q/q, Q3 +1.5% q/q.
1100 ETFeb Kansas City Fed manufacturing activity expected unch at 9, Jan unch at 9.
1100 ETEIA Weekly Petroleum Status Report.
1300 ETTreasury auctions $28 billion of 7-year T-notes.
1500 ETUSDA Jan Cold Storage.
Friday, Feb 24
US0830 ETUSDA weekly Export Sales.
1000 ETJan new home sales expected +6.5% to 571,000, Dec -10.4% to 536,000.
1000 ETRevised-Feb University of Michigan U.S. consumer sentiment expected +0.3 to 96.0, prelim-Feb -2.8 to 95.7.
1500 ETUSDA Jan Cattle on Feed.
U.S. STOCK CALENDAR02/23/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Hormel Foods CorpHRL USBf-mktQ1 2017 Earnings ReleaseQ1 20170.451
Patterson Cos IncPDCO USBf-mktQ3 2017 Earnings ReleaseQ3 20170.574
Chesapeake Energy CorpCHK USBf-mktQ4 2016 Earnings ReleaseQ4 20160.061
Iron Mountain IncIRM USBf-mktQ4 2016 Earnings ReleaseQ4 20160.398
LKQ CorpLKQ USBf-mktQ4 2016 Earnings ReleaseQ4 20160.392
Kohl's CorpKSS US7:00Q4 2017 Earnings ReleaseQ4 20171.34
Apache CorpAPA US7:30Q4 2016 Earnings ReleaseQ4 20160.067
Kohl's CorpKSS US8:30Q4 2017 Earnings CallQ4 2017
Iron Mountain IncIRM US8:30Q4 2016 Earnings CallQ4 2016
Hormel Foods CorpHRL US9:00Q1 2017 Earnings CallQ1 2017
L Brands IncLB US9:00Q4 2017 Earnings CallQ4 2017
Range Resources CorpRRC US9:00Q4 2016 Earnings CallQ4 2016
Chesapeake Energy CorpCHK US9:00Q4 2016 Earnings CallQ4 2016
Transocean LtdRIG US9:00Q4 2016 Earnings CallQ4 2016
Patterson Cos IncPDCO US10:00Q3 2017 Earnings CallQ3 2017
LKQ CorpLKQ US10:00Q4 2016 Earnings CallQ4 2016
Public StoragePSA US13:00Q4 2016 Earnings CallQ4 2016
Apache CorpAPA US14:00Q4 2016 Earnings CallQ4 2016
Realty Income CorpO US14:30Q4 2016 Earnings CallQ4 2016
Gap Inc/TheGPS US16:15Q4 2017 Earnings ReleaseQ4 20170.502
Intuit IncINTU US16:30Q2 2017 Earnings CallQ2 2017
Nordstrom IncJWN US16:45Q4 2017 Earnings CallQ4 2017
Gap Inc/TheGPS US17:00Q4 2017 Earnings CallQ4 2017
Hewlett Packard Enterprise CoHPE US17:00Q1 2017 Earnings CallQ1 2017
Southwestern Energy CoSWN USAft-mktQ4 2016 Earnings ReleaseQ4 20160.123
Alliant Energy CorpLNT USAft-mktQ4 2016 Earnings ReleaseQ4 20160.283
Nordstrom IncJWN USAft-mktQ4 2017 Earnings ReleaseQ4 20171.153
Intuit IncINTU USAft-mktQ2 2017 Earnings ReleaseQ2 20170.28
Hewlett Packard Enterprise CoHPE USAft-mktQ1 2017 Earnings ReleaseQ1 20170.442
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Friday, June 17, 2016

MORNING CALL 6/17

MORNING CALL


OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps are down -0.18% and European stocks are up +1.07% as Brexit concerns temporarily receded after campaigning over whether the UK should leave the European Union was suspended for a second day today after the murder of Labor lawmaker Jo Cox, an advocate for Britain to remain in the EU. A weaker dollar has also boosted commodity prices, which has strengthened energy and raw-material producing stocks. Asian stocks settled higher: Japan +1.07%, Hong Kong +0.66%, China +0.43%, Taiwan +0.87%, Australia +0.32%, Singapore +0.43%, South Korea +0.01%, India +0.38%.
The dollar index is down -0.17%. EUR/USD is up +0.33%. USD/JPY is unchanged.
Sep T-note prices are down -11 ticks.
The BOE warns that if Britain votes next Thursday to leave the European Union, the damage could extend to global markets and the word economy. Central banks around the world are on high alert ahead of the vote with the leaders of the Fed, BOJ, BOC and SNB all citing the vote as being potentially disruptive. The BOE said a vote to leave could have "adverse spillovers to the global economy" through "financial market and confidence channels."
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) May housing starts (expected -1.9% to 1.150 million, Apr +6.6% to 1.172 million) and May building permits (expected +1.3% to 1.145 million, Apr +4.9% to 1.130 million).
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today: none.
Equity conferences today include: none.

OVERNIGHT U.S. STOCK MOVERS
Phillips 66 (PSX +0.37%) was downgraded to 'Equal Weight' from 'Overweight' at Morgan Stanley.
Oracle (ORCL +0.52%) climbed over 2% in after-hours trading after it reported Q4 adjusted EPS of 81 cents, below consensus of 82 cents, but Q4 adjusted revenue of $10.6 billion was higher than consensus of $10.47 billion.
Smith & Wesson (SWHC +1.26%) jumped nearly 7% in after-hours trading after it reported Q4 adjusted EPS of 66 cents, well above consensus of 54 cents, and then raised guidance on fiscal 2017 adjusted EPS to $1.83-$1.93, above consensus of $1.66.
Parsley Energy (PE -2.77%) was rated a new 'Buy' at Wunderlich Securities with an 18-month price target of $32.
Envision Healthcare Holdings (EVHC -6.18%) was downgraded to 'Market Perform' from 'Outperform' at Oppenheimer.
Finisar (FNSR +0.80%) rallied over 8% in after-hours trading after it reported Q4 adjusted EPS of 29 cents, above consensus of 25 cents.
MGM Resorts International (MGM -1.47%) rose over 4% in after-hours trading after guiding annual adjusted Ebitda benefit to $400 million by the end of 2017 from $300 million previously forecast.
Revlon will buy Elizabeth Arden (RDEN -0.21%) for $14/ share cash if deal valued at $870 million.
Lumber Liquidators (LL +0.68%) jumped over 10% in after-hours trading after agreed to not resume sales of laminate flooring previously imported from China and the U.S, Consumer Product Safety Commission said it will not order a product recall.
ServiceNow (NOW -1.06%) was rated a new 'Market Perform' at Oppenheimer.
Paypal Holdings (PYPL +0.35%) was rated a new 'Outperform' at Oppenheimer with a price target of $43.
Synergy Resources Corp. (SYRG -4.24%) was rated a 'Strong Buy' at Raymond James with a 12-month price target of $9.50.
Stanley Furniture (STLY -1.56%) said it hired Stephens as financial adviser on a strategic review.
MARKET COMMENTS
September E-mini S&Ps this morning are down -3.75 points (-0.18%). Thursday's closes: S&P 500 +0.31%, Dow Jones +0.53%, Nasdaq +0.21%. The S&P 500 on Thursday rebounded from a 3-week low and closed higher on reduced Brexit concerns after the murder of a UK lawmaker fueled speculation that UK voters will vote to remain in the EU. Stocks were also boosted by stronger-than-expected U.S. economic data after the +6.5 point increase in the Jun Philadelphia Fed business outlook survey to 4.7 (stronger than expectations of +2.8 to 1.0) and the +2 point gain in the Jun NAHB housing market index to 60 (stronger than expectations of +1 to 59 and a 5-month high). Stocks were undercut by the slide in European stocks to a 4-month low on concern about a possible UK "Leave" vote next Thursday. Stocks were also undercut by the unexpected +13,000 increase in weekly initial unemployment claims.
Sep 10-year T-note prices this morning are down -11 ticks. Thursday's closes: TYU6 +6.50, FVU6 +3.50. Sep T-notes on Thursday rallied to a new contract high and closed higher on increased safe-haven demand from a slide in global stocks and on carryover support from rallies in 10-year German bunds and Japanese 10-year JGBs to all-time highs. T-notes were also boosted by reduced inflation expectations as the 10-year T-note breakeven inflation rate fell to a 3-1/4 month low.
The dollar index this morning is down -0.160 (-0.17%). EUR/USD is up +0.0037 (+0.33%). USD/JPY is unchanged. Thursday's closes: Dollar Index-0.318 (-0.33%), EUR/USD -0.0023 (-0.20%), USD/JPY -1.64 (-1.55%). The dollar index on Thursday climbed to a 1-1/2 week high but fell back and closed lower. The dollar was undercut by a recovery in GBP/USD from a 2-month low after the murder of a UK lawmaker fueled speculation that UK voters will vote to remain in the EU. The dollar was also undercut as USD/JPY plunged to a 1-3/4 year low after the BOJ refrained from expanding stimulus. The dollar found support on weakness in EUR/USD on Brexit fears and on stronger-than-expected U.S. economic data that included the Jun NAHB housing market index and the Jun Philadelphia Fed index.
July WTI crude oil this morning is up +71 cents (+1.54%). July gasoline is up +0.0303 (+2.07%). Thursday's closes: CLN6 -1.85 (-3.85%), RBN6 -0.0329(-2.19%). July crude oil and gasoline prices on Thursday closed lower with July crude at a 1-month low and July gasoline at a 5-week low. Crude oil prices were undercut by concern about a possible UK Leave Brexit vote next week and the the fall in the S&P 500 to a 3-week low, which undercuts optimism about the economy and energy demand.
GLOBAL EVENT CALENDAR06/17/2016
Friday, June 17, 2016
US0830 ETMay housing starts expected -1.9% to 1.150 million, Apr +6.6% to 1.172 million. May building permits expected +1.3% to 1.145 million, Apr +4.9% to 1.130 million.
CHI2130 ETChina May property prices.
Sunday, June 19, 2016
UK1901 ETUK Jun Rightmove house prices, May +0.4% m/m and +7.8% y/y.
JPN1950 ETJapan May trade balance expected +26.5 billion yen, Apr +623.2 billion yen. May exports expected -10.0% y/y, Apr -10.1% y/y. May imports expected -13.7% y/y, Apr -23.3% y/y.
Monday, June 20, 2016
JPN0130 ETJapan May nationwide department store sales, Apr -3.8% y/y.
GER0200 ETGerman May PPI, Apr +0.1% m/m and -3.1% y/y.
EUR0500 ETEurozone Apr construction output, Mar -0.9% m/m and -0.5% y/y
US1100 ETUSDA weekly grain export inspections.
1300 ETTreasury auctions 2-year T-notes.
1600 ETUSDA Weekly Crop Progress.
U.S. STOCK CALENDAR06/17/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Centene CorpCNC8:30Investor DayY 2016
Eli Lilly & CoLLY9:00Diabetes Commercial Update Call
Cardinal Health IncCAH10:00Investors and Analysts Meeting - DublinY 2016
Signet Jewelers LtdSIG10:00Annual General MeetingY 2016
Iron Mountain IncIRM10:00Annual General MeetingY 2016
Time Warner IncTWXAnnual General Meeting
Cree IncCREEITC Scheduled to Announce Findings in Cree Inc. vs. Feit Electric Patent Case
Fortinet IncFTNTAnnual General Meeting
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Thursday, February 25, 2016

MORNING CALL 2/25

MORNING CALL
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +0.14%) are little changed, up +0.13%. Crude oil prices are down -0.47%, which has drug energy producers and service companies lower with Transocean Ltd. and Kinder Morgan both down at last 1.2% in pre-market trading. Also, a -6.41% plunge in China's Shanghai Composite to a 1-week low undercut stocks after a surge in money-market rates indicated tighter liquidity as China's overnight repurchase rate climbed 14 bp to 2.11%, the largest increase in almost 3 weeks. European stocks are up +1.81% after the Eurozone Jan CPI was revised lower, which bolsters the case for the ECB to expand stimulus when it meets next month. Asian stocks settled mixed: Japan +1.41%, Hong Kong -1.58%, China -6.41%, Taiwan +1.00%, Australia +0.13%, Singapore -0.63%, South Korea +0.20%, India -0.49%. U.S Treasury Secretary Lew said that G-20 finance ministers won't deliver an "emergency response" to the recent market turmoil when they meet in Shanghai for a 2-day meeting Friday and Saturday as we aren't in a crisis environment.
The dollar index (DXY00 -0.15%) is down -0.05%. EUR/USD (^EURUSD) is up +0.15%. USD/JPY (^USDJPY) is up +0.20%.
Mar T-note prices (ZNH16 +0.07%) are up +3 ticks.
St. Louis Fed President Bullard said there's "too much talk about negative interest rates" and that he doesn’t see recession risk rising in the U.S. He added, that the U.S Jan CPI report was "hot" and that he expects inflation expectations to stabilize.
The Eurozone Jan CPI was revised downward to +0.3% y/y from the originally reported +0.4% y/y. The Jan core CPI was left unchanged at +1.0% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Atlanta Fed President Dennis Lockhart's opening remarks at the Atlanta Fed’s 2016 Banking Outlook Conference, (2) weekly initial unemployment claims (expected +8,000 to 270,000, previous -7,000 to 262,000) and continuing claims (expected -20,000 to 2.253 million, previous +30,000 to 2.273 million), (3) Jan durable goods orders (expected +2.7% and +0.3% ex transportation, Dec -5.0% and -1.0% ex transportation), (4) Dec FHFA house price index (expected +0.5% m/m, Nov +0.5% m/m), (5) Feb Kansas City Fed manufacturing activity (expected +3 to -6, Jan unch at-9), (6) San Francisco Fed President John Williams' speech at NYU Stern Business School, and (7) the Treasury's auction of $28 billion of 7-year T-notes.
There are 19 of the S&P 500 companies that report earnings today with notable reports including: Best Buy (consensus $1.39), Kohl's (1.55), Gap (0.57), Kraft (0.58), Monster Beverage (0.82), Patterson Cos (0.67), Apache (-0.49), Autodesk (0.12), Intuit (0.19).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: IHS Energy CERAWeek Conference on Tue-Thu, Cantor Fitzgerald Internet & Technology Conference on Thu, Gabelli & Company Pump, Valve and Water Systems Symposium on Thu.





OVERNIGHT U.S. STOCK MOVERS
Salesforce.com (CRM -0.60%) jumped over 9% in pre-market trading after it said it sees Q1 adjusted EPS of 23 cents-24 cents, above consensus of 21 cents, and raised guidance on fiscal 2017 adjusted EPS to 99 cents-$1.01, higher than consensus of 99 cents.
Best Buy (BBY +1.78%) dropped over 3% in pre-market trading after it said it sees Q1 ajusted EPS of 31 cents-35 cents, below consensus of 39 cents.
Charter Communications (CHTR +0.80%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan Chase with a 12-month price target of $210.
Kohl's (KSS +1.16%) reported Q4 EPS of $1.58, higher than consensus of $1.55.
Bankrate (RATE +2.51%) was downgraded to 'Hold' from 'Buy' at Topeka Capital Markets.
Imax Corporation (IMAX +2.39%) fell over 7% in after-hours trading after it reported Q4 EPS of 39 cents, below consensus of 42 cents.
La Quinta Holdings (LQ +1.88%) lost over 3% in after-hours trading after it said it sees 2016 pro forma adjusted Ebitda of $367 million-$384 million versus $394 million y/y.
Relypsa (RLYP -2.39%) slumped over 10% in after-hours trading after it reported a Q4 adjusted EPS loss of -$1.40, a wider loss than consensus of -$1.35.
AmSurg (AMSG -0.01%) climbed nearly 5% in after-hours trading after it reported Q4 adjusted EPS of $1.07, higher than consensus of $1.04.
Restoration Hardware (RH +1.29%) plunged over 20% in pre-market trading after it reported preliminary Q4 adjusted EPS of 99 cents, well below consensus of $1.40.
Andarko Petroleum (APC +2.58%) rose nearly 7% in after-hours trading after it sold its Springfield Pipeline LLC to Western Gas Partners for $750 million.
Malibu Boats (MBUU +2.41%) was rated a new 'Buy' at B. Riley with a 12-month price target of $22.
Diamond Resorts International (DRII -1.60%) jumped 17% in after-hours trading after it said it hired Centerview Partners to explore a wide range of strategic options to maximize shareholder value.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +0.14%) this morning are up +2.50 points (+0.13%). Wednesday's closes: S&P 500 +0.44%, Dow Jones +0.32%, Nasdaq +0.92%. The S&P 500 on Wednesday recovered from a 1-week low and closed higher on a rebound in crude oil that boosted energy producer stocks and on Richmond Fed President Lacker's comment that there is "no evidence" that a U.S. recession is imminent. Stocks were undercut by the -9.2% decline in U.S. Jan new home sales to 494,000 (weaker than expectations of -4.4% to 520,000) and the unexpected -3.4 point decline in the U.S. Feb Markit services PMI to a 2-1/3 year low of 49.8 (weaker than expectations of +0.3 to 53.5).
Mar 10-year T-notes (ZNH16 +0.07%) this morning are up +3 ticks. Wednesday's closes: TYH6 +2.00, FVH6 +1.25. Mar T-notes on Wednesday climbed to a 1-week high and closed higher on U.S. economic concerns after the weak Jan new home sales and Feb Markit services PMI reports.
The dollar index (DXY00 -0.15%) this morning is down -0.044 (-0.05%). EUR/USD (^EURUSD) is up +0.0016 (+0.15%). USD/JPY (^USDJPY) is up +0.22 (+0.20%). Wednesday's closes: Dollar Index -0.023 (-0.02%), EUR/USD -0.0007 (-0.06%), USD/JPY +0.08 (+0.07%). The dollar index on Wednesday fell back from a 3-week high and closed lower on the weaker-than-expected U.S. Jan new home sales and Feb Markit services PMI reports. The dollar was also undercut by strength in the energy-exporting currencies of Canada and Russia after crude oil erased early declines and closed higher. The dollar index found underlying support from Richmond Fed President Lacker's comment that there is "no evidence" that a U.S. recession is imminent, which "bolsters the case for raising the federal funds rate target."
Apr WTI crude (CLJ16 -0.25%) this morning is down -15 cents (-0.47%) and Apr gasoline (RBJ16 -0.39%) is down -0.0104 (-0.82%). Wednesday's closes: CLJ6 +0.28 (+0.88%), RBJ6 +0.0561 (+4.60%). Apr crude oil and gasoline on Wednesday closed higher on the -0.4% decline in U.S. crude oil production in the week of Feb 19 to a 4-month low of 9.102 million bpd and the -2.2 million bbl drop in EIA gasoline stockpiles (vs expectations of -1.0 million bbls). Crude oil prices were undercut by the +3.5 million bbl increase in EIA crude inventories to a record high of 507.6 million bbl and by the +333,000 bbl increase in crude supplies at Cushing, OK, delivery point of WTI futures, to a record high 65.066 million bbl.
GLOBAL EVENT CALENDAR02/25/2016
US0815 ETAtlanta Fed President Dennis Lockhart delivers welcoming and opening remarks at the Atlanta Feds 2016 Banking Outlook Conference.
0830 ETWeekly initial unemployment claims expected +8,000 to 270,000, previous -7,000 to 262,000. Weekly continuing claims expected -20,000 to 2.253 million, previous +30,000 to 2.273 million.
0830 ETJan durable goods orders expected +2.7% and +0.3% ex transportation, Dec -5.0% and -1.0% ex transportation. Jan capital goods new orders ex-aircraft & parts expected +1.0%, Dec -4.3%.
0830 ETUSDA weekly Export Sales.
0900 ETDec FHFA house price index expected +0.5% m/m, Nov +0.5% m/m.
1100 ETFeb Kansas City Fed manufacturing activity expected +3 to -6, Jan unch at -9.
1200 ETSan Francisco Fed President John Williams speaks at NYU Stern Business School.
1300 ETTreasury auctions $28 billion of 7-year T-notes.
GER0200 ETRevised German Jan CPI (EU harmonized), previous -1.0% m/m and +0.4% y/y.
0200 ETGerman Mar GfK consumer confidence expected -0.1 to 9.3, Feb 9.4.
EUR0400 ETEurozone Jan M3 money supply expected +4.7% y/y, Dec +4.7% y/y.
0500 ETRevised Eurozone Jan CPI, previous +0.2% y/y. Revised Jan core CPI, previous +1.0% y/y
UK0430 ETRevised UK Q4 GDP, previous +0.5% q/q and +1.9% y/y.
0430 ETUK Dec index of services expected +0.3% m/m and +0.7% 3-mo/3-mo, Nov +0.2% m/m and +0.6% 3-mo/3-mo.
0430 ETUK Q4 total business investment expected +0.9% q/q and +6.4% y/y, Q3 +2.2% q/q and +5.8% y/y.
1905 ETUK Feb GfK consumer confidence expected -1 to 3, Jan 4.
JPN1830 ETJapan Jan national CPI expected unch y/y, Dec +0.2% y/y. Jan national CPI ex-fresh food expected unch y/y, Dec +0.1% y/y. Jan national CPI ex food & energy expected +0.7% y/y, Dec +0.8% y/y.
1830 ETJapan Feb Tokyo CPI expected -0.3% y/y, Jan -0.3% y/y. Feb Tokyo CPI ex-fresh food expected -0.2% y/y, Jan -0.1% y/y. Feb Tokyo CPI ex food & energy expected +0.4% y/y, Jan +0.4% y/y.
CHI2030 ETChina Jan property prices.
U.S. STOCK CALENDAR02/25/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Campbell Soup CoCPB USBef-mktQ2 2016 Earnings ReleaseQ2 20160.87
Cablevision Systems CorpCVC USBef-mktQ4 2015 Earnings ReleaseQ4 20150.168
Ensco PLCESV USBef-mktQ4 2015 Earnings ReleaseQ4 20150.726
Patterson Cos IncPDCO USBef-mktQ3 2016 Earnings ReleaseQ3 20160.667
Iron Mountain IncIRM USBef-mktQ4 2015 Earnings ReleaseQ4 20150.558
Quanta Services IncPWR USBef-mktQ4 2015 Earnings ReleaseQ4 20150.284
Best Buy Co IncBBY US7:00Q4 2016 Earnings ReleaseQ4 20161.393
Kohl's CorpKSS US7:00Q4 2016 Earnings ReleaseQ4 20161.553
Apache CorpAPA US8:00Q4 2015 Earnings ReleaseQ4 2015-0.489
Best Buy Co IncBBY US8:00Q4 2016 Earnings CallQ4 2016
Campbell Soup CoCPB US8:30Q2 2016 Earnings CallQ2 2016
International Business Machines CorpIBM US8:30Investor MeetingY 2016
Kohl's CorpKSS US8:30Q4 2016 Earnings CallQ4 2016
Iron Mountain IncIRM US8:30Q4 2015 Earnings CallQ4 2015
L Brands IncLB US9:00Q4 2016 Earnings CallQ4 2016
Transocean LtdRIG US9:00Q4 2015 Earnings CallQ4 2015
Quanta Services IncPWR US9:30Q4 2015 Earnings CallQ4 2015
Concho Resources IncCXO US9:30Q4 2015 Earnings CallQ4 2015
Patterson Cos IncPDCO US10:00Q3 2016 Earnings CallQ3 2016
Zions BancorporationZION US10:30Investor MeetingY 2016
Ensco PLCESV US11:00Q4 2015 Earnings CallQ4 2015
Newfield Exploration CoNFX US11:00Q4 2015 Earnings CallQ4 2015
Apache CorpAPA US14:00Q4 2015 Earnings CallQ4 2015
Gap Inc/TheGPS US16:15Q4 2016 Earnings ReleaseQ4 20160.568
Intuit IncINTU US16:30Q2 2016 Earnings CallQ2 2016
Gap Inc/TheGPS US17:00Q4 2016 Earnings CallQ4 2016
Autodesk IncADSK US17:00Q4 2016 Earnings CallQ4 2016
Kraft Heinz Co/TheKHC US17:00Q4 2015 Earnings CallQ4 2015
Monster Beverage CorpMNST US17:00Q4 2015 Earnings CallQ4 2015
EOG Resources IncEOG USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.316
Southwestern Energy CoSWN USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.041
Universal Health Services IncUHS USAft-mktQ4 2015 Earnings ReleaseQ4 20151.739
Autodesk IncADSK USAft-mktQ4 2016 Earnings ReleaseQ4 20160.116
Range Resources CorpRRC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.088
Mohawk Industries IncMHK USAft-mktQ4 2015 Earnings ReleaseQ4 20152.728
Intuit IncINTU USAft-mktQ2 2016 Earnings ReleaseQ2 20160.191
Kraft Heinz Co/TheKHC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.58
Monster Beverage CorpMNST USAft-mktQ4 2015 Earnings ReleaseQ4 20150.818
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