Thursday, June 16th, 2016View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.48%) are down -0.34% at a 3-week low and European stocks are down -0.56% at a 3-3/4 month low as central banks express concern about the global economic outlook due to the June 23 Brexit referendum. Fed Chair Yellen said next week's UK vote on European Union membership was a factor in the Fed's decision yesterday to hold interest rates steady, and the BOJ refrained from expanding stimulus on concern any fallout from a Brexit vote would leave its policy moves ineffective. Gold prices (GCQ16 +1.57%) surged to a 1-3/4 year high as the outlook for low U.S. interest rates and Brexit concerns fueled safe-haven demand for gold. The BOE as expected kept its benchmark interest rate at 0.50% and maintained its asset purchase target at 375 billion pounds. Crude oil dropped to a 4-week low as most commodities followed world equity markets lower, while global government bond markets rallied sharply with 10-year yields in Japan, Australia, South Korea and Germany all falling to record lows. Asian stocks settled lower: Japan -3.05%, Hong Kong -2.10%, China -0.50%, Taiwan -1.30%, Australia -0.02%, Singapore -0.82%, South Korea -0.69%, India -0.75%. Japan's Nikkei Stock Index tumbled to a 3-3/4 month low after the BOJ refrained from additional stimulus measures along with the slide in USD/JPY to a 1-3/4 year low, which undercut exporter stocks.
The dollar index (DXY00 +0.36%) is up +0.21%. EUR/USD (^EURUSD) is down -0.52%. USD/JPY (^USDJPY) is down -1.63% at a 1-3/4 year low.
Sep T-note prices (ZNU16 +0.19%) are up +7.5 ticks at a new contract high on carryover support from yesterday's Fed decision along with rallies in world bond markets.
The BOJ kept its benchmark interest rate at -0.1% and maintained its annual asset purchase target at 80 trillion yen ($764 billion). The yen surged to a 1-3/4 year high against the dollar and the Japan 10-year bond yield fell to a record low -0.21% after the BOJ's decision. BOJ Governor Kuroda said the BOJ was carefully monitoring moves in financial markets and was in touch with counterparts including the BOE, amid Brexit concerns that he said had had an impact in the bond market.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +6,000 to 270,000, previous -4,000 to 264,000) and continuing claims (expected +45,000 to 2.140 million, previous -77,000 to 2.095 million), (2) May CPI (expected +0.3% m/m and +1.1% y/y, Apr +0.4% m/m and +1.1% y/y) and May CPI ex food & energy (expected +0.2% m/m and +2.2% y/y, Apr +0.2% m/m and +2.1% y/y), (3) Jun Philadelphia Fed business outlook survey (expected +2.8 to 1.0, May -0.2 to -1.8), (4) Q1 current account deficit (expected -$125.0 billion, Q4 -$125.31 billion), and (5) Jun NAHB housing market index (expected +1 to 59, May unch at 58), and (6) USDA weekly Export Sales.
There are 3 of the Russell 1000 companies that report earnings today: Oracle (consensus $0.82), Kroger (0.69), Rite Aid (0.05).
U.S. IPO's scheduled to price today: PSAV Inc (PSAV).
Equity conferences today include: William Blair & Company Growth Stock Conference on Tue-Thu and RBC Capital Markets Global Financial Technology Investor Day on Thu.
OVERNIGHT U.S. STOCK MOVERS
Chubb Ltd. (CB -0.10%) was downgraded to 'Underweight' from 'Neutral' at Atlantic Equities.
Aetna (AET +0.30%) was rated a new 'Outperform' at Bernstein with a price target of $142.
Yahoo! (YHOO -0.21%) was upgraded to 'Buy' from 'Neutral' at Citigroup with a price target of $43.
Ctrip.com International Ltd. (CTRP -2.14%) climbed 5% in after-hours trading after it reported Q1 net revenue of $648 million, higher than consensus of $629 million.
Kansas City Southern (KSU -1.58%) was rated a new 'Outperform' at Oppenheimer with an 18-month price target of $103.
Cal-Maine Foods (CALM -0.37%) was upgraded to 'Hold' from 'Underweight' at BB&T Capital Markets.
Hannon Armstrong Sustainable Infrastructure (HASI +0.48%) slid over 4% in after-hours trading after it started a 3.9 million share secondary offering
Culp (CFI +1.50%) reported Q4 net sales of $77.3 million, below consensus of $79.1 million, and said it sees Q1 comparable sales slightly lower y/y.
Jabil Circuit (JBL -0.32%) slumped 8% in after-hours trading after it said it expects Q4 core EPS between 15 cents and 35 cents, well below consensus of 53 cents.
Korn/Ferry (KFY -2.51%) lost over 1% in after-hours trading after it said it sees Q1 adjusted EPS of 50 cents-58 cents, below consensus of 58 cents.
Cavium (CAVM +3.81%) will acquire QLogic ({=QLGC for about $1.36 billion in cash and stock.
Clarcor (CLC +0.65%) reported Q2 adjusted EPS of 73 cents. better than consensus of 68 cents.
Tonix Pharmaceuticals Holding Corp. (TNXP -2.77%) dropped 12% in after-hours trading after it announced a proposed public offering of common stock.
MARKET COMMENTS
September E-mini S&Ps (ESU16 -0.48%) this morning are down -7.00 points at a new 3-week low. Wednesday's closes: S&P 500 -0.18%, Dow Jones-0.20%, Nasdaq -0.35%. The S&P 500 on Wednesday closed lower on the -0.4% decline in U.S. May manufacturing production (weaker than expectations of -0.1%) and on the FOMC's cut in its U.S. 2016 GDP forecast to 2.0% from 2.2%. Stocks received support from reduced concern about a Fed rate hike after the number of FOMC members who see only one rate hike this year rose to 6 from 1 in March. Stocks were also boosted by a rally in mining stocks and raw-material producers after the price of copper jumped to a 1-week high and silver rose to a 1-month high. Another supportive factor was the +15.3 point increase in the U.S. Jun Empire manufacturing survey to 6.01, stronger than expectations of +4.12 to -4.90.
Sep 10-year T-note prices (ZNU16 +0.19%) this morning are up +7.5 ticks at a fresh contract high. Wednesday's closes: TYU6 +9.50, FVU6 +6.25. Sep T-notes on Wednesday rose to a fresh contract high and closed higher on the FOMC's reiteration of its plan to raise interest rates at only a "gradual" pace and its cut in its U.S. 2016 GDP estimate to 2.0% from 2.2%. T-notes were also supported by the bigger-than-expected decline in U.S. May industrial and manufacturing production and by reduced inflation expectations as the 10-year T-note breakeven inflation rate fell to a 3-month low.
The dollar index (DXY00 +0.36%) this morning is up +0.196 (+0.21%). EUR/USD (^EURUSD) is down -0.0058 (-0.52%). USD/JPY (^USDJPY) is down-1.73 (-1.63%) a t 1-3/4 year low. Wednesday's closes: Dollar Index -0.318 (-0.33%), EUR/USD +0.0053 (+0.47%), USD/JPY -0.10 (-0.09%). The dollar index on Wednesday closed lower on the weaker-than-expected U.S. May industrial and manufacturing production reports and the dovish outcome of the FOMC meeting, which hurt U.S. interest rate differentials.
July WTI crude oil (CLN16 -1.44%) this morning is down -64 cents (-1.33%) at a 4-week low. July gasoline (RBN16 -0.53%) is down -0.0075 (-0.50%). Wednesday's closes: CLN6 -0.48 (-0.99%), RBN6 -0.0199 (-1.31%). July crude oil and gasoline prices on Wednesday closed lower with July crude at a 3-week low and July gasoline at a 1-month low. Crude oil prices were undercut by the -933,000 bbl decline in weekly EIA crude inventories (vs expectations of -2.35 million bbl) and the +904,000 bbl increase in crude oil supplies at Cushing. Crude oil prices found support from news that U.S. crude oil production in the week ended Jun 10 fell -0.3% to a 1-3/4 year low of 8.716 million bpd.
GLOBAL EVENT CALENDAR06/16/2016
U.S. STOCK CALENDAR06/16/2016
|
Showing posts with label KSU. Show all posts
Showing posts with label KSU. Show all posts
Thursday, June 16, 2016
MORNING CALL 6/16
MORNING CALL
Tuesday, April 19, 2016
MORNING CALL 4/19
MORNING CALL
Tuesday, April 19th, 2016View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 +0.41%) are up +0.47% at a 4-1/2 month high and European stocks are up +1.39% at a 1-month high. Energy producing stocks gained as the price of crude oil pushed back above $40 a barrel, and commodity producers rose, led by a +1.8% gain in Newmont Mining in pre-market trading, after the price of silver (SIK16 +2.72%)surged +2.32% to a 10-1/2 month high. U.S. stocks also received a boost on upbeat comments from Boston Fed President Rosengren who said the U.S. economy remains "fundamentally sound" despite a slow Q1. European stocks received a boost after a gauge of German investor sentiment rose as the German Apr ZEW survey of expectations of economic growth climbed to a 4-month high. Asian stocks settled mostly higher: Japan +3.68%, Hong Kong +1.30%, China +0.30%, Taiwan -0.37%, Australia +1.01%, Singapore South Korea -0.05%, India closed for holiday. Japanese stocks rallied as the yen weakened against the dollar on speculation that the BOJ may boost stimulus measures in the wake of damage caused to Japan's economy from the recent earthquake.
The dollar index (DXY00 -0.16%) is down -0.15%. EUR/USD (^EURUSD) is up +0.17%. USD/JPY (^USDJPY) is up +0.49%.
Boston Fed President Rosengren said the U.S. economy remains "fundamentally sound" despite a slow Q1 and "we will be raising rates faster than what's reflected in the financial markets."
The German Apr ZEW survey expectations of economic growth rose +6.9 to 11.2, stronger than of +3.7 to 8.0 and the highest in 4 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Mar housing starts (expected -1.0% to 1.166 million, Feb +5.2% to 1.178 million).
There are 18 of the S&P 500 companies that report earnings today with notable reports including: Goldman Sachs (consensus $2.48), Northern Trust (0.95), Intel (0.49), Johnson & Johnson (1.65), Yahoo (0.08), Discover Financial Services (1.29), Navient (0.41),
U.S. IPO's scheduled to price today: MGM Growth Properties (MGP).
Equity conferences during the remainder of this week include: American Academy Of Neurology Meeting on Mon-Wed, American Association for Cancer Research Meeting on Mon-Wed, Rx Sample Management and logistics Summit on Tue-Wed.
OVERNIGHT U.S. STOCK MOVERS
Newmont Mining (NEM +0.31%) climbed nearly 2% in pre-market tradng after the price of silver surged to a 10-1/2 month high.
Dish Network (DISH +4.19%) climbed nearly 4% in after-hours trading after it said it has joined with China Central Television in suing HTV International over its h.TV streaming device.
International Business Machines (IBM +0.53%) dropped over 4% in pre-market trading after it projected Q2 growth of about $2.78 to $2.92 a share, below consensus of $3.45.
Ebay (EBAY +0.36%) slid over 2% in pre-market trading after it was dowmgraded by Morgan Stanley to 'Underweight' from 'Equal-weight.'
Netflix (NFLX -2.79%) sank over 7% in pre-market trading after it said it sees Q2 domestic streaming net adds of 500,000, below consensus of 505,000, and said it expects Q2 international streaming adds of 2.0 million, less than consensus of 3.451 million.
Illumina (ILMN +2.59%) tumbled 19% in after-hours trading after it said it sees Q1 preliminary revenue of $572 million, below consensus of $596.8 million and the lowest estimate of $590 million.
Spirit Airlines (SAVE -0.12%) rose almost 1% in after-hours trading after it said it sees Q1 operating margin of 21,5%, higher than a prior estimate of 19%-20.5%.
Rambus (RMBS +0.73%) dropped over 7% in after-hours trading after it reported Q1 adjusted EPS of 13 cents, better than consensus of 12 cents, but then said it expected Q2 revenue of $72 million-$77 million, below consensus of $78.7 million.
Badger Meter (BMI +0.43%) rose over 4% in after-hours trading after it reported Q1 adjusted EPS of 55 cents, better than consensus of 41 cents.
Celanese (CE +0.79%) gained over 7% in after-hours trading after it reported Q1 adjusted EPS of $1.83, well above consensus of $1.49, and then raised its view of fiscal 2016 adjusted EPS to up 8%-10% from a January view of up 5% to 10%.
Dynavax Technologies (DVAX +4.91%) rose over 4% in after-hours trading after it said that results of a trial demonstrated both co-primary endpoints were met with its Heplisav-B vaccine.
GigPeak (GIG +2.73%) climbed almost 1% in after-hours trading after it reported Q1 adjusted EPS of 5 cents, above consensus of 4 cents.
Heron Therapeutics (HRTX +2.77%) jumped 18% in after-hours trading after the U.S. Food & Drug Administration (FDA) indicated no substantive deficiencies in the company's Sustol NDA and the FDA has begun labeling discussions with Heron for Sustol Injection.
Applied Optoelectronics (AAOI +1.83%) plunged over 20% in after-hours trading after it lowered guidance on Q1 adjusted EPS to a loss of -4 cents to -6cents from a February estimate of a 21 cent to 28 cent gain.
MARKET COMMENTS
June E-mini S&Ps (ESM16 +0.41%) this morning are up +9.75 points (+0.47%) at a fresh 4-1/2 month high. Monday's closes: S&P 500 +0.65%, Dow Jones +0.60%, Nasdaq +0.58%. The S&P 500 on Monday shook off early losses and rallied to a new 4-1/2 month high. Stocks were boosted by upbeat comments from New York Fed President Dudley who said that U.S. economic news is "mostly favorable" and that monetary-policy adjustments are likely to be gradual and cautious. Stocks were also boosted by a partial recovery in oil prices from sharp early losses on the failure of Sunday's Doha production freeze meeting.
June 10-year T-note prices (ZNM16 -0.11%) this morning are down -6 ticks. Monday's closes: TYM6 -4.50, FVM6 -3.00. Jun T-notes on Monday closed lower on reduced safe-haven demand for T-notes after the S&P 500 shook off early losses and rallied to a new 4-1/2 month high. T-notes were also undercut by comments from New Yok Fed President Dudley who said he said he's confident that inflation will return to the Fed's 2% target as transitory downward factors dissipate.
The dollar index (DXY00 -0.16%) this morning is down -0.140 (-0.15%). EUR/USD (^EURUSD) is up +0.0019 (+0.17%). USD/JPY (^USDJPY) is up +0.53 (+0.49%). Monday's closes: Dollar Index -0.206 (-0.22%), EUR/USD +0.0029 (+0.26%), USD/JPY +0.06 (+0.06%). The dollar index on Monday closed lower on the weaker-than-expected U.S. Apr NAHB housing market index report and on dovish comments from New York Fed President Dudley suggesting that he favors delaying additional Fed interest rate hikes.
May WTI crude oil (CLK16 +1.66%) is up +54 cents (+1.36%). May gasoline (RBK16 +1.62%) is up +0.0216 (+1.50%). Monday's closes: CLK6 -0.58(-1.44%), RBK6 -0.0247 (-1.69%). May crude and May gasoline on Monday fell to 1-week lows and closed lower on the lack of an agreement between OPEC and non-OPEC oil producers at Sunday's meeting in Doha after Saudi Arabian Crown Prince Mohammed bin Salman said that Saudi Arabia would not restrain its production without commitments from other major oil producers including Iran. Crude oil was also pressured by expectations for Wednesday's weekly EIA data to show that U.S crude supplies rose +3.0 million bbl last week. Crude recovered from its worst levels as a strike by oil workers in Kuwait, OPEC's fourth-largest producer, extended into a second day and curbed Kuwait's crude output by nearly 60% to 1.7 million bpd.
GLOBAL EVENT CALENDAR04/19/2016
| US | 0830 ET | Mar housing starts expected -1.0% to 1.166 million, Feb +5.2% to 1.178 million. Mar building permits expected +2.0% to 1.200 million, Feb was -2.2% to 1.177 million. |
| JPN | 0130 ET | Japan Mar nationwide department store sales, Feb +0.2% y/y. |
| 1950 ET | Japan Mar trade balance expected +834.6 billion yen, Feb +242.2 billion yen. Mar exports expected -7.0% y/y, Feb -4.0% y/y. Mar imports expected -16.6% y/y, Feb -14.2% y/y. | |
| GER | 0500 ET | German Apr ZEW survey expectations of economic growth expected +3.7 to 8.0, Mar 4.3. Apr ZEW survey current situation expected +0.1 to 50.8, Mar 50.7. |
| EUR | 0400 ET | Eurozone Feb current account, Jan +25.4 billion euros (nsa). |
| 0500 ET | Eurozone Feb construction output, Jan+3.6% m/m and +6.0% y/y. |
U.S. STOCK CALENDAR04/19/2016
| Company | Ticker | Time | Event Description | Period | Estimate |
|---|---|---|---|---|---|
| Comerica Inc | CMA US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.433 |
| Genuine Parts Co | GPC US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 1.033 |
| Harley-Davidson Inc | HOG US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 1.289 |
| Kansas City Southern | KSU US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.972 |
| Omnicom Group Inc | OMC US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.868 |
| UnitedHealth Group Inc | UNH US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 1.722 |
| Northern Trust Corp | NTRS US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.948 |
| Prologis Inc | PLD US | Bef-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.59 |
| Johnson & Johnson | JNJ US | 6:45 | Q1 2016 Earnings Release | Q1 2016 | 1.647 |
| Philip Morris International Inc | PM US | 7:00 | Q1 2016 Earnings Release | Q1 2016 | 1.108 |
| Goldman Sachs Group Inc/The | GS US | 7:30 | Q1 2016 Earnings Release | Q1 2016 | 2.48 |
| Comerica Inc | CMA US | 8:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Johnson & Johnson | JNJ US | 8:30 | Q1 2016 Earnings Call | Q1 2016 | |
| Omnicom Group Inc | OMC US | 8:30 | Q1 2016 Earnings Call | Q1 2016 | |
| Kansas City Southern | KSU US | 8:45 | Q1 2016 Earnings Call | Q1 2016 | |
| UnitedHealth Group Inc | UNH US | 8:45 | Q1 2016 Earnings Call | Q1 2016 | |
| Harley-Davidson Inc | HOG US | 9:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Whirlpool Corp | WHR US | 9:00 | Annual General Meeting | ||
| Philip Morris International Inc | PM US | 9:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Goldman Sachs Group Inc/The | GS US | 9:30 | Q1 2016 Earnings Call | Q1 2016 | |
| Northern Trust Corp | NTRS US | 10:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Genuine Parts Co | GPC US | 11:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Fastenal Co | FAST US | 11:00 | Annual General Meeting | Y 2016 | |
| Fifth Third Bancorp | FITB US | 11:30 | Annual General Meeting | Y 2016 | |
| Northern Trust Corp | NTRS US | 11:30 | Annual General Meeting | Y 2016 | |
| Prologis Inc | PLD US | 12:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Intel Corp | INTC US | 16:00 | Q1 2016 Earnings Release | Q1 2016 | 0.488 |
| Intuitive Surgical Inc | ISRG US | 16:05 | Q1 2016 Earnings Release | Q1 2016 | 4.324 |
| Intuitive Surgical Inc | ISRG US | 16:30 | Q1 2016 Earnings Call | Q1 2016 | |
| Intel Corp | INTC US | 17:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Yahoo! Inc | YHOO US | 17:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Discover Financial Services | DFS US | 17:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Linear Technology Corp | LLTC US | Aft-mkt | Q3 2016 Earnings Release | Q3 2016 | 0.503 |
| Yahoo! Inc | YHOO US | Aft-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.075 |
| Discover Financial Services | DFS US | Aft-mkt | Q1 2016 Earnings Release | Q1 2016 | 1.292 |
| Navient Corp | NAVI US | Aft-mkt | Q1 2016 Earnings Release | Q1 2016 | 0.414 |
| Public Service Enterprise Group Inc | PEG US | Annual General Meeting | |||
| Perrigo Co PLC | PRGO US | Q1 2016 Earnings Release | Q1 2016 | 1.895 | |
| M&T Bank Corp | MTB US | Annual General Meeting | |||
| US Bancorp | USB US | Annual General Meeting | |||
| Signet Jewelers Ltd | SIG US | Analyst Meeting |
Friday, January 22, 2016
MORNING CALL 1/22
MORNING CALL
Friday, January 22nd, 2016View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +1.44%) are up sharply by +1.48% and European stocks are up +2.75% on speculation central banks around the world will act to support the global economy. ECB President Draghi on Thursday hinted at expanding stimulus at next month's ECB meeting, while the Nikkei Asian Review reported today that the BOJ is considering additional easing at next week's BOJ meeting. Energy producers and mining stocks are higher with Chevron and Freeport-McMoRan both up over 2% in pre-market trading as the price of crude oil and copper rallied. Asian stocks settled higher: +5.88%, Hong Kong +2.90%, China +1.25%, Taiwan +1.20%, Australia +1.07%, Singapore +1.75%, South Korea +2.23%, India +1.98%. Chinese stocks rallied on speculation of further stimulus by the PBOC after China's vice president Li Yuanchao said the government is willing to intervene to tap down market volatility, while Japanese stocks surged as the yen fell to a 1-week low against the dollar, which boosted exporters.
The dollar index is up +0.22%. EUR/USD is down -0.39%. USD/JPY is up +0.41% at a 1-week high as he rally in global equities reduces the safe-haven demand for the yen.
Mar T-note prices are down -14.5 ticks.
The Nikkei Asian Review reported that the BOJ is considering steps to counter the hit to inflation from the recent plunge in crude oil. The BOJ meets on Jan 28-29 and the report bolsters speculation the BOJ will expand easing measures.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Dec Chicago Fed national activity index (expected +0.15 to -0.15, Nov -0.13 to -0.30), (2) Markit preliminary-Jan U.S. manufacturing PMI (expected -0.2 to 51.0, Dec -1.6 to 51.2), (3) Dec existing home sales (expected +9.2% to 5.20 million, Nov -10.5% to 4.76 million), and (4) Dec leading indicators (expected -0.1%, Nov +0.4%).
There are 6 of the S&P 500 companies that report earnings today: GE (consensus $0.49), Kansas City Southern (1.10), SunTrust Banks (0.87), Synchrony Financial (0.63), Rockwell Collins (1.04), Legg Mason (0.70).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week: none.
OVERNIGHT U.S. STOCK MOVERS
Schlumberger (SLB +0.64%) gained almost 4% in pre-market trading after it reported Q4 adjusted EPS of 65 cents, better than consensus of 63 cents.
MetLife (MET +1.16%) was upgraded to 'Strong Buy' from 'Market Perform' at Raymond James with a 12-month price target of $56.
Dr Pepper Snapple (DPS -0.28%) was upgraded to 'Ourperform' from 'Underperform' at CLSA.
Boeing (BA +1.03%) fell over 1% in after-hours trading after it said it will cut its 747 production rate to 0.5/month from a planned 1.0/month.
Starbucks (SBUX +3.71%) fell over 3% in after-hours trading after it reported Q1 revenue of $5.37 billion, below consensus of $5.39 billion.
Maxim Integrated (MXIM -0.42%) rose nearly 2% in after-hours trading after it reported fiscal year Q2 revenue of $510.8 million, above consensus of $505.1 million.
Intuitive Surgical (ISRG +0.19%) climbed almost 1% in after-hours trading after it reported Q4 adjusted EPS of $5.89, well above consensus of $5.04.
American Express (AXP -0.62%) slipped over 4% in after-hours trading after it said it is targeting 2017 fiscal EPS at least $5.60, less than estimates of $5.96.
ResMed (RMD +0.52%) rose over 1% in after-hours trading after it reported Q2 adjusted EPS of 69 cents, higher than consensus of 66 cents.
Digi International (DGII +0.48%) fell over 9% in after-hours trading after it lowered guidance on Q2 profit continuing operations to 3 cents-7 cents, below consensus of 9 cents.
E*Trade Financial (ETFC -0.12%) dropped nearly 3% in after-hours trading after it reported total Q4 net revenue of $454 million, below consensus of $454.5 million.
8x8 Inc. (EGHT +1.27%) jumped over 5% in after-hours trading after it reported Q3 adjusted EPS of 5 cents, higher than consensus of 3 cents.
Cardiovascular Systems (CSII -2.35%) slumped over 20% in after-hours trading after it lowered guidance on Q3 revenue to $40.5 million-$42.0 million, below consensus of $45.8 million.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +1.44%) this morning are up sharply by +27.50 points (+1.48%). Thursday's closes: S&P 500 +0.52%, Dow Jones +0.74%, Nasdaq +0.15%. The S&P 500 on Thursday closed higher on strength in energy producers as crude oil prices rose and on carryover support from a rally in European equities after ECB President Draghi said that downside risks have increased and the ECB may need to boost stimulus measures at next month's policy meeting. On the bearish side, U.S. weekly jobless claims unexpectedly rose +10,000 to a 6-1/4 month high of 293,000, indicating a weaker labor market than expected.
Mar 10-year T-notes (ZNH16 -0.35%) this morning are down -14.5 ticks. Thursday's closes: TYH6 -6.50, FVH6 -2.00. Mar T-notes on Thursday closed lower on a rebound in stock prices that reduced safe-haven demand for T-notes. T-notes saw support from (1) carryover support from a rally in German bunds to a 2-3/4 month high after ECB President Draghi hinted at additional stimulus at next month's ECB meeting, and (2) the unexpected increase in U.S. weekly jobless claims to a 6-1/4 month high.
The dollar index (DXY00 +0.26%) this morning is up +0.214 (+0.22%). EUR/USD (^EURUSD) is down -0.0042 (-0.39%). USD/JPY (^USDJPY) is up +0.48 (+0.41%) at a 1-week high. Thursday's closes: Dollar Index -0.035 (-0.04%), EUR/USD -0.0016 (-0.15%), USD/JPY +0.76 (+0.65%). The dollar index on Thursday jumped to a 1-1/2 month high but fell back and closed little changed. The dollar received a boost as EUR/USD fell to a 2-week low on signs the ECB may expand stimulus after ECB President Draghi said that "downside risks have increased" and that the ECB will consider its options at next month's policy meeting. Meanwhile, USD/JPY saw some reduced safe-haven demand for the yen after the stock market rallied.
Mar crude oil (CLH16 +4.94%) this morning is up +$1.58 a barrel (+5.35%) and Mar gasoline (RBH16 +4.08%) is up +0.0477 (+4.52%). Thursday's closes: CLH6 +1.50 (+5.29%), RBH6 +0.0201 (+1.93%). Mar crude oil and gasoline on Thursday closed higher on comments from ECB President Draghi who said the ECB may bolster stimulus measures next month and on short-covering after crude oil prices plunged by over 22% in the past 2 weeks. Crude oil prices were undercut by the +3.98 million bbl increase in weekly EIA crude inventories, more than expectations of +2.5 million bbl, and the +4.563 million bbl increase in EIA gasoline supplies to a 15-3/4 year high of 245 million bbl.
GLOBAL EVENT CALENDAR01/22/2016
| US | 0830 ET | Dec Chicago Fed national activity index expected +0.15 to -0.15, Nov -0.13 to -0.30. |
| 0830 ET | USDA weekly Export Sales. | |
| 0945 ET | Preliminary U.S. Jan Markit manufacturing PMI expected -0.2 to 51.0, Dec -1.6 to 51.2. | |
| 1000 ET | Dec existing home sales expected +9.2% to 5.20 million, Nov -10.5% to 4.76 million. | |
| 1000 ET | Dec leading indicators expected -0.1%, Nov +0.4%. | |
| 1500 ET | USDA Dec Cold Storage. | |
| 1500 ET | USDA Jan Cattle on Feed. | |
| GER | 0330 ET | German Jan Markit/BME manufacturing PMI expected -0.2 to 53.0, Dec 53.2. |
| 0330 ET | German Jan Markit services PMI expected -0.5 to 55.5, Dec 56.0. | |
| EUR | 0400 ET | Eurozone Jan Markit manufacturing PMI expected -0.2 to 53.0, Dec 53.2. Jan Markit composite PMI expected 0.2 to54.1. |
| UK | 0430 ET | UK Dec retail sales ex auto fuel expected -0.3% m/m and +3.5% y/y, Nov +1.7% m/m and +3.9% y/y. |
| 0430 ET | UK Dec retail sales including auto fuel expected -0.3% m/m and +4.4% y/y, Nov +1.7% m/m and +5.0% y/y. | |
| 0430 ET | UK Dec public sector net borrowing expected +10.0 billion pounds, Nov +13.6 billion pounds. |
U.S. STOCK CALENDAR01/22/2016
| Company | Ticker | Time | Event Description | Period | Estimate |
|---|---|---|---|---|---|
| General Electric Co | GE US | Bef-mkt | Q4 2015 Earnings Release | Q4 2015 | 0.494 |
| Kansas City Southern | KSU US | Bef-mkt | Q4 2015 Earnings Release | Q4 2015 | 1.101 |
| SunTrust Banks Inc | STI US | Bef-mkt | Q4 2015 Earnings Release | Q4 2015 | 0.867 |
| Synchrony Financial | SYF US | Bef-mkt | Q4 2015 Earnings Release | Q4 2015 | 0.633 |
| Rockwell Collins Inc | COL US | 6:30 | Q1 2016 Earnings Release | Q1 2016 | 1.044 |
| Legg Mason Inc | LM US | 7:00 | Q3 2016 Earnings Release | Q3 2016 | 0.7 |
| SunTrust Banks Inc | STI US | 8:00 | Q4 2015 Earnings Call | Q4 2015 | |
| General Electric Co | GE US | 8:30 | Q4 2015 Earnings Call | Q4 2015 | |
| Legg Mason Inc | LM US | 8:30 | Q3 2016 Earnings Call | Q3 2016 | |
| Synchrony Financial | SYF US | 8:30 | Q4 2015 Earnings Call | Q4 2015 | |
| Kansas City Southern | KSU US | 8:45 | Q4 2015 Earnings Call | Q4 2015 | |
| Schlumberger Ltd | SLB US | 9:00 | Q4 2015 Earnings Call | Q4 2015 | |
| Rockwell Collins Inc | COL US | 9:00 | Q1 2016 Earnings Call | Q1 2016 | |
| Legg Mason Inc | LM US | Investor Day | Y 2016 |
Friday, October 16, 2015
BARCHART MORNING CALL 10/16
Friday, October 16th, 2015View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 -0.19%) are down -0.19% as they fall back from a 1-3/4 month high posted in overnight trade. U.S. stock index futures retreated and the dollar and Treasuries rose after Turkey said it shot down an unidentified aircraft flying within its airspace on the Syrian border. European stocks are up +0.75% at a 5-week high on speculation that recent weaker-than-expected economic data will prompt global central banks to maintain or even expand stimulus measures. The markets will scrutinize today's U.S. Sep industrial production and Oct University of Michigan consumer sentiment data for clues as to the timing of any Fed interest rate increase. Asian stocks settled mostly higher: Japan +1.08%, Hong Kong +0.78%, China +1.60%, Taiwan +0.04%, Australia +0.73%, Singapore +0.51%, South Korea -0.21%, India +0.76%. China's Shanghai Composite climbed to a 1-3/4 month high on speculation the government will introduce additional measures to spur economic growth.
The dollar index (DXY00 +0.29%) is up +0.31%. EUR/USD (^EURUSD) is down -0.31%. USD/JPY (^USDJPY) is up +0.10%.
Dec T-note prices (ZNZ15 +0.10%) are up +3 ticks.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Sep industrial production (expected -0.3%, Aug -0.4%), (2) Aug JOLTS job openings (expected -173,000 to 5.580 million, Jul +430,000 to 5.753 million), and (3) preliminary-Oct U.S. consumer sentiment index from the University of Michigan (expected +1.8 to 89.0, Sep -4.7 to 87.2).
There are 8 of the S&P 500 companies report earnings today: GE (consensus $0.26), Honeywell (1.54), Comerica (0.70), Kansas City Southern (1.22), Progressive (0.48), SunTrust Banks (0.84), WW Grainger (3.06), M&T Bank (2.01).
U.S. IPO's scheduled to price today: none.
Equity conferences today include: none.
OVERNIGHT U.S. STOCK MOVERS
General Electric (GE +1.56%) fell over 1% in pre-market trading after it reported Q3 EPS of 28 cents, better than consensus of 26 cents, but sales of $27.9 billion were below consensus of $28.6 billion.
Allstate (ALL +2.89%) was downgraded to 'Underperform' from 'Market Perform' at William Blair.
Luluemon (LULU +1.90%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Honeywell International (HON +0.24%) reported Q3 EPS of $1.60, above consensus of $1.54.
Comerica (CMA +2.79%) reported Q3 EPS of 73 cents, higher than consensus of 70 cents.
Occidental Petroleum (OXY +1.11%) rose over 1% in after-hours trading after Reuters reported that Occidental will sell its Bakken shale assets in North Dakota to Lime Rock for $500 million.
Mattel (MAT +0.04%) declined over 2% in after-hours trading after it reported Q3 EPS of 71 cents, less than consensus of 79 cents.
Wynn Resorts (WYNN +1.92%) dropped over 8% in after-hours trading after it reported Q3 adjusted EPS of 86 cents, better than consensus of 84 cents, but reported Q3 revenue of $996.3 million, below consensus of $1.03 billion. Other gaming stocks followed Wynn lower in after-hours trading with Las Vegas Sands (LVS +2.87%) and MGM Resorts international (MGM +1.93%) down over 3%.
Spirit Airlines (SAVE -0.20%) fell over 1% in after-hours trading after it projected capacity growth in 2016 t0ward the low end of a previous 20%-25%estimated range.
Yum! Brands (YUM +1.01%) rose over 3% in after-hours trading after it named Corvex Management founder Keith Meister, who has advocated selling off Yum's China business, to its board.
Schlumberger (SLB +1.53%) reported Q3 profit continuing operations of 78 cents, better than consensus of 77 cents, but said Q3 revenue was $8.47 billion, below consensus of $8.55 billion.
United Parcel Service (UPS +0.91%) said it will raise ground transportation rates by a net 4.9% effective Dec 28.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 -0.19%) this morning are down -3.75 points (-0.19%). Thursday's closes: S&P 500 +1.49%, Dow Jones +1.28%, Nasdaq +1.64%. The S&P 500 on Thursday rallied to a 1-3/4 month high and closed sharply higher on carryover support from a +2.32% rally in China's Shanghai Composite and on the unexpected -7,000 decline in U.S. weekly initial unemployment claims to 255,000, better than expectations of +7,000 to 270,000 and matched the Jul 17 week low as the fewest claims since Nov 1973. Bank stocks were led higher by a +4.4% increase in Citigroup after it reported better-than-expected Q3 profits.
Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +3 ticks. Thursday's closes: TYZ5 -13.50, FVZ5 -9.50. Dec T-notes on Thursday closed lower on the unexpected decline in U.S. weekly jobless claims to a 42-year low, the larger-than-expected increase in U.S. Sep CPI ex food & energy to +1.9% y/y, and reduced safe-haven demand with the rally in the S&P 500 to a 1-3/4 month high.
The dollar index (DXY00 +0.29%) this morning is up +0.296 (+0.31%). EUR/USD (^EURUSD) is down -0.0035 (-0.31%). USD/JPY (^USDJPY) is up +0.12 (+0.10%). Thursday's closes: Dollar Index +0.440 (+0.47%), EUR/USD -0.0088 (-0.77%), USD/JPY +0.07 (+0.06%). The dollar index on Thursday rebounded from a 1-1/2 month low and closed higher on the larger-than-expected increase in U.S. core CPI, which may prompt the Fed to raise interest rates this year. In addition, there was weakness in EUR/USD, which retreated from a 1-1/2 month high and closed lower, after ECB Governing Council member Nowotny fueled speculation that the ECB may need to expand QE measures when he said both headline and core inflation in the Eurozone are "clearly missing our target."
Nov crude oil (CLX15 +0.75%) this morning is up +55 cents (+1.19%) and Nov gasoline (RBX15 +1.09%) is up +0.0170 (+1.30%). Thursday's closes: CLX5-0.26 (-0.56%), RBX5 +0.0123 (+0.94%). Nov crude oil and gasoline on Thursday settled mixed. Crude oil prices closed lower on the +7.56 million bbl surge in weekly EIA crude inventories and the +1.125 million bbl increase in crude supplies at Cushing, OK, delivery point of WTI futures. Crude oil and gasoline prices received some underlying support from the -0.8% decline in U.S. crude production to match a 10-month low of 9.096 million bpd and the -2.62 million bbl decline in weekly EIA gasoline supplies (vs expectations of -1.25 million bbl).
GLOBAL EVENT CALENDAR10/16/2015
| US | 0830 ET | USDA weekly Export Sales. |
| 0915 ET | Sep industrial production expected -0.3%, Aug -0.4%. Sep capacity utilization expected -0.3 to 77.3%, Aug -0.4 to 77.6%. | |
| 1000 ET | Aug JOLTS job openings expected -173,000 to 5.580 million, Jul +430,000 to 5.753 million. | |
| 1000 ET | Preliminary U.S. Oct University of Michigan consumer sentiment expected +1.8 to 89.0, Sep -4.7 to 87.2. | |
| EUR | 0200 ET | Eurozone Sep new car registrations, Aug +11.2% y/y. |
| 0500 ET | Revised Eurozone Sep CPI, previous -0.1% y/y. Revised Sep core CPI, previous +0.9% y/y. |
U.S. STOCK CALENDAR10/16/2015
| Company | Ticker | Time | Event Description | Period | Estimate |
|---|---|---|---|---|---|
| Honeywell International Inc | HON US | Bef-mkt | Q3 2015 Earnings Release | Q3 2015 | 1.544 |
| Comerica Inc | CMA US | Bef-mkt | Q3 2015 Earnings Release | Q3 2015 | 0.697 |
| Kansas City Southern | KSU US | Bef-mkt | Q3 2015 Earnings Release | Q3 2015 | 1.224 |
| Progressive Corp/The | PGR US | Bef-mkt | Q3 2015 Earnings Release | Q3 2015 | 0.479 |
| SunTrust Banks Inc | STI US | Bef-mkt | Q3 2015 Earnings Release | Q3 2015 | 0.836 |
| General Electric Co | GE US | 6:30 | Q3 2015 Earnings Release | Q3 2015 | 0.262 |
| WW Grainger Inc | GWW US | 7:30 | Q3 2015 Earnings Release | Q3 2015 | 3.057 |
| WW Grainger Inc | GWW US | 7:30 | Q3 2015 Earnings Call | Q3 2015 | |
| Comerica Inc | CMA US | 8:00 | Q3 2015 Earnings Call | Q3 2015 | |
| General Electric Co | GE US | 8:30 | Q3 2015 Earnings Call | Q3 2015 | |
| Kansas City Southern | KSU US | 8:45 | Q3 2015 Earnings Call | Q3 2015 | |
| Schlumberger Ltd | SLB US | 9:00 | Q3 2015 Earnings Call | Q3 2015 | |
| SunTrust Banks Inc | STI US | 9:00 | Q3 2015 Earnings Call | Q3 2015 | |
| Honeywell International Inc | HON US | 9:30 | Q3 2015 Earnings Call | Q3 2015 | |
| Walt Disney Co/The | DIS US | U.S. Box Office Release of Movie Bridge of Spies"" | |||
| Progressive Corp/The | PGR US | Q3 2015 Earnings Release - September Sales | Q3 2015 | 0.479 | |
| Netflix Inc | NFLX US | First Original Movie Beasts of No Nation" Becomes Available in Select Theatres" |
Subscribe to:
Posts (Atom)