Showing posts with label TEDU. Show all posts
Showing posts with label TEDU. Show all posts

Tuesday, August 22, 2017

Morning Call 8/22

Barchart Morning Call

Barchart.com - Tue Aug 22, 6:36AM CDT
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU17 +0.13%) this morning are up +0.07% and European stocks are up +0.47%, led by a rally in mining stocks, as Sep COMEX copper (HGU17 +0.70%) climbs +0.67% to a new 2-3/4 year nearest-futures high. Gains in European stocks were limited after a gauge of German investor confidence fell to a 10-month low. The German Aug ZEW survey expectations of economic growth fell -7.5 to 10.0, weaker than expectations of -2.5 to 15.0, amid concern that the diesel scandal at Volkswagen AG along with recent strength in EUR/USD will weigh on the German economy, Europe's largest. Asian stocks settled mostly higher: Japan -0.05%, Hong Kong +0.91%, China +0.10%, Taiwan +0.64%, Australia +0.42%, Singapore +0.52%, South Korea +0.39%, India +0.11%. China's Shanghai Composite erased early losses and rose to a 2-1/2 week high on optimism that Chinese insurance stocks and pharmaceutical companies will report better-than-expected quarterly earnings results. Japan's Nikkei Stock Index fell to a new 3-1/2 month low on a lack of support for stocks in the Nikkei Stock Index as the BOJ has said it will reduce investments in the Nikkei Stock Index and buy more exchange-traded funds tracking the Topix index.
The dollar index (DXY00 +0.43%) is up +0.45%. EUR/USD (^EURUSD) is down -0.55% on the weaker-than-expected German Aug ZEW survey. USD/JPY (^USDJPY) is up +0.32%.
Sep 10-year T-note prices (ZNU17 -0.16%) are down -5 ticks.
The German Aug ZEW survey expectations of economic growth fell -7.5 to 10.0, weaker than expectations of -2.5 to 15.0 and a 10-month low.
UK Jul public sector net borrowing unexpectedly fell -0.8 billion pounds, weaker than expectations of +0.3 billion pounds and the first decline in 5 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Jun FHFA house price index (expected +0.4% m/m, May +0.4% m/m), (2) Aug Richmond Fed manufacturing index (expected -3 to 11, Jul +3 to 14), (3) USDA Jul Cold Storage.
Notable Russell 1000 earnings reports today include: Toll Brothers (consensus $0.69), Coty (0.09), Medtronics (1.08), salesforce.com (0.32), Intuit (0.17).
U.S. IPO's scheduled to price today: none.
Equity conferences this week: Bank of America Merrill Lynch Industrial, Energy and Infrastructure Conference on Tue, CFA Society of Minnesota Intellisight Conference on Tue-Wed, Healthcare Information & Management Systems Society Southeast Summit on Wed, Heikkinen Energy Conference on Wed, Raymond James SMID Cap Growth Conference on Wed, Southern California Investor Conference on Thu.
OVERNIGHT U.S. STOCK MOVERS

Alibaba (BABA +1.04%) was upgraded to 'Overweight' from 'Neutral' at Atlantic Equities LLP with a price target of $215.
VMware (VMW +0.77%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank.
Tempur Sealy (TPX +0.39%) was upgraded to 'Buy' from 'Hold' a Stifel with a price target of $80.
Hain Celestial (HAIN +0.24%) was downgraded to 'Neutral' from 'Positive' at Susquehanna Financial.
Inversora Carso reported a 5.1% passive stake in PBF Logistics (PBFX -0.24%) .
Estee Lauder (EL +0.53%) was upgraded to 'Buy' from 'Hold' at Argus with a price target of $125.
BHP Billiton Ltd (BHP +1.26%) reported full-year underlying profit of $6.7 billion, weaker than consensus of $7.3 billion, and said it was pursuing options to exit onshore U.S. assets.
Nordson (NDSN +0.80%) sank 10% in after-hours trading after it forecast Q4 EPS of $1.18 to $1.32, well below consensus of $1.51.
Fabrinet (FN -0.65%) fell nearly 4% in after-hours trading after it forecast Q1 revenue of $356 million-$360 million, below consensus of $375.6 million.
Zayo Group Holdings (ZAYO -0.24%) dropped over 3% in after-hours trading after it reported Q4 adjusted Ebitda of $310.8 million, below consensus of $314.7 million.
Premier Inc. (PINC -0.49%) slid over 2% in after-hours trading after it reported Q4 adjusted EPS of 50 cents, below consensus of 52 cents, and then said it sees full-year adjusted EPS of $1.98 to $2.09, weaker than consensus of $2.11.
Tarena International (TEDU +3.27%) lost over 3% in after-hours trading after it cut its full-year revenue forecast to 1.92 to 2-billion yuan from a May 22 estimate of 1.99 to 2.07 billion yuan.
Global Medical Reit (GMRE -1.75%) was downgraded to 'Neutral' from 'Buy' at D.A. Davidson.
MARKET COMMENTS
Sep S&P 500 E-mini stock futures (ESU17 +0.13%) this morning are up +1.75 points (+0.07%). Monday's closes: S&P 500 +0.12, Dow Jones +0.13%, Nasdaq -0.08%. The S&P 500 on Monday posted a 1-1/4 month low, but recovered its losses and closed slightly higher. Stocks were supported by strength in mining stocks after the price of copper rose +1.39% to a 2-3/4 year high. There was also optimism about the global economic outlook after the Bundesbank in its monthly report said, "the German economy may grow more strongly this year than was expected in June forecasts." Energy stocks were undercut by the -2.32% sell-off in crude oil prices.
Sep 10-year T-note prices (ZNU17 -0.16%) this morning are down -5 ticks. Monday's closes: TYU7 +3.00, FVU7 +2.25. Sep 10-year T-notes on Monday closed higher on the weaker-than-expected Jul Chicago Fed national activity index (-0.17 to -0.01 versus expectations of -0.03 to 0.10) and on the decline in inflation expectations after the 10-year T-note breakeven inflation rate tumbled to a 1-month low.
The dollar index (DXY00 +0.43%) this morning is up +0.422 (+0.45%). EUR/USD (^EURUSD) is down -0.0065 (-0.55%) and USD/JPY (^USDJPY) is up +0.35 (+0.32%). Monday's closes: Dollar Index -0.339 (-0.36%), EUR/USD +0.0054 (+0.46%), USD/JPY -0.20 (-0.18%). The dollar index on Monday fell to a 1-week low and closed lower on the weaker-than-expected Jul Chicago Fed national activity index and on strength in EUR/USD after the Bundesbank's monthly report stated that "the German economy may grow more strongly this year than was expected in June forecasts."
Oct crude oil (CLV17 +0.04%) this morning is up +2 cents (+0.04%) and Oct gasoline (RBV17 +0.01%) is +0.0023 (+0.15%). Monday's closes: Oct WTI crude -1.13 (-2.22%), Oct gasoline -0.0370 (-2.41%). Oct crude oil and gasoline on Monday closed lower on the fall in the S&P 500 to a new 1-1/4 month high and on concern that the global oil glut will persist after last Wednesday's EIA data showed U.S. crude production rose to a 2-year high.
Metals prices this morning are mixed with Dec gold (GCZ17 -0.46%) -4.9 (-0.38%), Sep silver (SIU17 -0.26%) -0.015(-0.09%) and Sep copper (HGU17 +0.70%) +0.020 (+0.67%) at a new 2-3/4 nearest-futures high. Monday's closes: Dec gold +5.1 (+0.39%), Sep silver +0.015 (+0.09%), Sep copper +0.0410 (+1.39%). Metals on Monday closed higher with Sep copper at a new 2-3/4 year nearest-futures high. Metals prices were boosted by the fall in the dollar index to a 1-week low and by signs of tighter copper supplies after LME copper inventories fell -9,650 MT to a 1-1/2 month low of 261,700 MT.
GLOBAL EVENT CALENDAR08/22/2017
Tuesday, Aug 21
US0900 ETJun FHFA house price index expected +0.4% m/m, May +0.4% m/m. Q2 house price purchase, Q1 +1.4% q/q.
1000 ETAug Richmond Fed manufacturing index expected -3 to 11, Jul +3 to 14.
1500 ETUSDA Jul Cold Storage.
Wednesday, Aug 22
US0700 ETWeekly MBA mortgage applications, previous +0.1% with purchase sub-index -1.5% and refi sub-index +1.6%.
0905 ETDallas Fed President Robert Kaplan speaks before the Permian Basin Petroleum Association Membership Luncheon in Midland, TX.
0945 ETAug Markit manufacturing PMI expected +0.1 to 53.4, Jul +1.3 to 53.3. Aug Markit services PMI expected +0.2 to 54.9, Jul +0.5 to 54.7.
1000 ETJul new home sales expected unch at 610,000, Jun +0.8% to 610,000.
1030 ETEIA Weekly Petroleum Status Report.
1300 ETTreasury auctions $13 billion 2-year floating-rate notes.
U.S. STOCK CALENDAR08/22/2017

CompanyTickerTimeEvent DescriptionPeriodEstimate
Toll Brothers IncTOL USBef-mktQ3 2017 Earnings ReleaseQ3 170.687
Coty IncCOTY USBef-mktQ4 2017 Earnings ReleaseQ4 170.091
Medtronic PLCMDT US06:45Q1 2018 Earnings ReleaseQ1 181.084
Medtronic PLCMDT US08:00Q1 2018 Earnings CallQ1 18
Coty IncCOTY US08:00Q4 2017 Earnings CallQ4 17
Nordson CorpNDSN US08:30Q3 2017 Earnings CallQ3 17
Toll Brothers IncTOL US11:00Q3 2017 Earnings CallQ3 17
Cadence Design Systems IncCDNS USRoadshow
Cadence Design Systems IncCDNS USRoadshow
Microchip Technology IncMCHP US12:00Annual General Meeting
salesforce.com IncCRM USAft-mktQ2 2018 Earnings ReleaseQ2 180.316
Intuit IncINTU USAft-mktQ4 2017 Earnings ReleaseQ4 170.168
Intuit IncINTU US16:30Q4 2017 Earnings CallQ4 17
salesforce.com IncCRM US17:00Q2 2018 Earnings CallQ2 18
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Tuesday, November 24, 2015

MORNING CALL 11/24

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 -0.53%) are down -0.47% and European stocks are down -1.15% on heightened geopolitical risks in the Middle East after Turkey shot down a Russian military jet on its Syrian border. Turkey's state-run Anadolu News Agency said the Russian Su-24 jet was warned repeatedly after violating Turkish airspace before being shot down. NATO said it was watching the situation "closely" and Russian Foreign Minister Lavrov is scheduled to meet officials in Turkey tomorrow. On the positive side, German business confidence unexpectedly rose to the highest in 17 months. Asian stocks settled mixed: Japan +0.23%, Hong Kong -0.35%, China +0.16%, Taiwan -1.01%, Australia -0.95%, Singapore +0.69%, South Korea +0.65%, India -0.17%. China's Shanghai Composite closed higher after people familiar with the matter said China has canceled a rule requiring brokerages to hold daily long positions in their proprietary trading accounts, which should improve the earnings prospects of brokerages.
The dollar index (DXY00 -0.16%) is down -0.15%. EUR/USD (^EURUSD) is up +0.09%. USD/JPY (^USDJPY) is down -0.21% at a 1-week low as the yen strengthened on increased safe-haven demand as stocks fell on the downing of the Russian warplane.
Dec T-note prices (ZNZ15 +0.11%) are up +6.5 ticks at a 2-1/2 week high as government bonds climbed worldwide on increased safe-haven demand after Turkish forces on the Syrian border shot down a Russian warplane.
The German Nov IFO business climate rose +0.8 to 109.0, stronger than expectations of unch at 108.2 and the highest in 17 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) revised Q3 GDP (expected +2.1% q/q annualized vs previous +1.5%) and Q3 personal consumption (expected unrevised at +3.2%), (2) Sep S&P CaseShiller composite-20 home price index (expected +0.30% m/m and +5.10% y/y, Aug +0.11% m/m and +5.09% y/y), (3) Nov U.S. consumer confidence from the Conference Board (expected +1.9 to 99.5, Oct -5.0 to 97.6), (4) Nov Richmond Fed manufacturing survey (expected +2 to 1, Oct +4 to -1), and (5) the Treasury's auction of $13 billion of 2-year floating rate notes and $35 billion of 5-year T-notes.
There are 9 of the S&P 500 companies that report earnings today: HP (consensus $0.96), Campbell Soup (0.76), Hormel Foods (0.69), Tiffany (0.75), Patterson Companies (0.60), Dollar Tree (0.54), Signet Jewelers (0.39), Analog Devices (0.81).
U.S. IPO's scheduled to price today: Pampa Energia (PAM), QTS Realty Trust (QTS).
Equity conferences this week include: J.P. Morgan Asia Rising Dragons One-on-One Forum on Mon-Tue, INTERGAS VII Oil, Gas & Petrochemicals Conference & Exhibition on Wed.








OVERNIGHT U.S. STOCK MOVERS
Carnival Corp. (CCL -0.37%) and Royal Caribbean Cruises Ltd. (RCL +0.97%) both fell over 1% in pre-market trading after the U.S. State Department issued a global travel alert due to terror threats.
Tiffany & Co. (TIF +1.88%) reported Q3 EPS of 70 cents, below consensus of 75 cents.
Hormel Foods (HRL +1.60%) reported Q4 EPS of 74 cents, better than consensus of 69 cents.
CSRA Inc. (CSRA) will replace Computer Sciences (CSC +0.23%) in the S&P 500 after the close of trading on Friday, November 27.
Cubic (CUB +1.33%) reported Q4 adjusted EPS of 74 cents, below consensus of $1.00 and then lowered guidance on fiscal 2016 EPS to $1.30-$1.55, below consensus of $2.47.
Brocade Communication Systems (BRCD +2.44%) tumbled over 6% in after-hours trading after it reported Q4 adjusted EPS of 26 cents, better than consensus of 24 cents, but said it sees Q1 adjusted EPS of 23 cents-25 cents, weaker than consensus of 27 cents.
Xerox (XRX +2.77%) jumped more than 6% in after-hours trading after billionaire activist investor Carl Icahn said he has taken a 7.13% stake in the company.
Valeant Pharmaceuticals (VRX -3.95%) climbed nearly 3% in after-hours trading after Pershing Capital Management disclosed that it raised its stake in the company to 9.9% from 5.7%.
JM Smucker (SJM +0.12%) slid over 1% in after-hours trading after Tigress Financial Partners downgraded the stock to 'Neutral' from 'Buy.'
Dycom (DY +3.15%) reported Q1 adjusted EPS of $1.24, higher than consensus of $1.01, and said its sees Q2 revenue of $530 million-$550 million, above consensus of $527.6 million.
Post Holdings (POST -2.19%) declined over 1% in after-hours trading after it reported Q4 adjusted EPS of 6 cents, well below consensus of 26 cents.
Palo Alto (PANW +0.61%) rose over 3% in after-hours trading after it reported Q1 adjusted EPS of 35 cents, above consensus of 32 cents, and said it sees Q2 revenue of $314 million-$318 million, above consensus of $310.7 million.
Tarena International (TEDU +2.84%) gained over 5% in after-hours trading after it said it sees Q4 revenue of $54 million-$56 million, above consensus of $53.6 million.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 -0.53%) this morning are down -9.75 points (-0.47%). Monday's closes: S&P 500 +0.38%, Dow Jones +0.51%, Nasdaq +0.67%. The S&P 500 on Monday closed lower on the -3.4% decline in U.S. Oct existing home sales to 5.36 million (weaker than expectations of -2.7%to 5.40 million) and the -1.5 point drop in the preliminary U.S. Nov Markit manufacturing PMI to a 2-year low of 52.6 (weaker than expectations of -0.1 to 54.0). Stocks found support on increased M&A activity as the value of M&A deals done so far this year totals a record $3.42 trillion.
Dec 10-year T-notes (ZNZ15 +0.11%) this morning are up +6.5 ticks at a 2-1/2 week high. Monday's closes: TYZ5 +4.50, FVZ5 +1.25. Dec T-notes on Monday closed higher on the slide in stocks and the weaker-than-expected U.S Oct existing home sales and the preliminary U.S. Nov Markit manufacturing PMI reports. T-note prices were undercut, however, by hawkish comments from San Francisco Fed President Williams who said that there's a "strong case" for the Fed to raise inters rates next month.
The dollar index (DXY00 -0.16%) this morning is down -0.152 (-0.15%). EUR/USD (^EURUSD) is up +0.0010 (+0.09%). USD/JPY (^USDJPY) is down-0.26 (-0.21%) at a 1-week low. Monday's closes: Dollar Index +0.238 (+0.24%), EUR/USD -0.0010 (-0.09%), USD/JPY +0.03 (+0.02%). The dollar index on Monday climbed to a 7-1/4 month high and closed higher on the weekend comments from San Francisco Fed President Williams who said that there's a "strong case" for a Fed rate hike next month. In addition, EUR/USD slumped to a 7-1/4 month low on expectations for the ECB to boost stimulus measures at next week's ECB meeting.
Jan crude oil (CLF16 +1.49%) this morning is up +31 cents (+0.74%) and Jan gasoline (RBF16 +1.88%) is up +0.0175 (+1.36%). Monday's closes: CLF6 -0.15 (-0.36%), RBF6 +0.0294 (+2.32%). Jan crude oil and gasoline on Monday settled mixed. Crude oil prices received a boost from short covering after a story from the official Saudi Press Agency that said that Saudi Arabia says it's ready to cooperate with OPEC and non-OPEC producers to maintain stable oil prices. Crude oil prices were undercut by the rally in the dollar index to a 7-1/4 month high and by comments from Venezuelan Oil Minister Pino who said oil prices may slump to as low as the mid-$20s a barrel unless OPEC takes action to stabilize the market.
GLOBAL EVENT CALENDAR11/24/2015
US0830 ETRevised Q3 GDP expected +2.1% (q/q annualized), previous +1.5% (q/q annualized). Q3 personal consumption expected unrevised at +3.2%. Q3 GDP price index expected unrevised at +1.2%
0900 ETSep S&P CaseShiller composite-20 home price index expected +0.30% m/m and +5.10% y/y, Aug +0.11% m/m and +5.09% y/y.
1000 ETNov consumer confidence (Conference Board) expected +1.9 to 99.5, Oct -5.0 to 97.6.
1000 ETNov Richmond Fed manufacturing survey expected +2 to 1, Oct +4 to -1.
1130 ETTreasury auctions $13 billion 2-year floating rate notes.
1300 ETTreasury auctions $35 billion 5-year T-notes.
GER0200 ETRevised German Q3 GDP, previous +0.3% q/q and +1.7% y/y.
0400 ETGerman Nov IFO business climate expected unch at 108.2. Nov IFO current assessment expected -0.2 to 112.4, Oct 112.6. Nov IFO expectations expected +0.2 to 104.0, Oct 103.8.
UK0600 ETUK Nov CBI reported sales expected +6 to 25, Oct 19.
JPN1950 ETJapan Oct PPI services expected +0.6% y/y, Sep +0.6% y/y.
CHI2045 ETChina Nov Westpac-MNI consumer sentiment, Oct 109.7.
U.S. STOCK CALENDAR11/24/2015

CompanyTickerTimeEvent DescriptionPeriodEstimate
Campbell Soup CoCPB USBef-mktQ1 2016 Earnings ReleaseQ1 20160.755
Hormel Foods CorpHRL USBef-mktQ4 2015 Earnings ReleaseQ4 20150.691
Tiffany & CoTIF USBef-mktQ3 2016 Earnings ReleaseQ3 20160.746
Patterson Cos IncPDCO USBef-mktQ2 2016 Earnings ReleaseQ2 20160.596
Valspar Corp/TheVAL USBef-mktQ4 2015 Earnings ReleaseQ4 20151.305
Dollar Tree IncDLTR USBef-mktQ3 2016 Earnings ReleaseQ3 20160.536
Signet Jewelers LtdSIG US7:00Q3 2016 Earnings ReleaseQ3 20160.392
DSW IncDSW US7:00Q3 2016 Earnings ReleaseQ3 20160.434
Analog Devices IncADI US8:00Q4 2015 Earnings ReleaseQ4 20150.81
Jacobs Engineering Group IncJEC US8:00Analyst MeetingY 2015
Campbell Soup CoCPB US8:30Q1 2016 Earnings CallQ1 2016
Tiffany & CoTIF US8:30Q3 2016 Earnings CallQ3 2016
Signet Jewelers LtdSIG US8:30Q3 2016 Earnings CallQ3 2016
DSW IncDSW US8:30Q3 2016 Earnings CallQ3 2016
Eaton Vance CorpEV US9:00Q4 2015 Earnings ReleaseQ4 20150.587
Dollar Tree IncDLTR US9:00Q3 2016 Earnings CallQ3 2016
Hormel Foods CorpHRL US9:30Q4 2015 Earnings CallQ4 2015
Analog Devices IncADI US10:00Q4 2015 Earnings CallQ4 2015
Patterson Cos IncPDCO US10:00Q2 2016 Earnings CallQ2 2016
Eaton Vance CorpEV US11:00Q4 2015 Earnings CallQ4 2015
Valspar Corp/TheVAL US11:00Q4 2015 Earnings CallQ4 2015
Copart IncCPRT US11:00Q1 2016 Earnings CallQ1 2016
Seadrill LtdSDRL NO12:00Q3 2015 Earnings CallQ3 2015
Veeva Systems IncVEEV US16:30Q3 2016 Earnings CallQ3 2016
HP IncHPQ US17:00Q4 2015 Earnings CallQ4 2015
Hewlett Packard Enterprise CoHPE US17:00Q4 2015 Earnings CallQ4 2015
HP IncHPQ USAft-mktQ4 2015 Earnings ReleaseQ4 20150.964
Veeva Systems IncVEEV USAft-mktQ3 2016 Earnings ReleaseQ3 20160.109
Hewlett Packard Enterprise CoHPE USAft-mktQ4 2015 Earnings ReleaseQ4 20150.505
Cytec Industries IncCYT USSpecial Meeting - M&A Vote
Seadrill LtdSDRL NOQ3 2015 Earnings ReleaseQ3 20150.446
Intercept Pharmaceuticals IncICPT USAnnual General Meeting
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