Showing posts with label UIS. Show all posts
Showing posts with label UIS. Show all posts

Friday, January 30, 2015

BARCHART MORNING CALL 1/30

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 -0.69%) this morning are down -0.63% and European stocks are down -0.10% on Eurozone deflation concerns after Jan Eurozone consumer prices fell a more-than-expected -0.6% y/y and matched the largest decline since the euro currency was introduced in 1999. Losses in European stocks were limited after the Eurozone Dec unemployment rate unexpectedly declined to the lowest in 28 months. The Russian ruble tumbled to a 1-1/2 month low against the dollar after Russia's central bank cut the 1-week auction rate to 15% from 17%. Credit-default swaps on Russia's government debt rose 3 bp to 617 bp, the highest since March 2009. Asian stocks closed mixed: Japan +0.39%, Hong Kong -0.36%, China -1.36%, Taiwan -0.69%, Australia +0.34%, Singapore -0.81%, South Korea -0.23%, India -1.68%. China's Shanghai Stock Index fell to a 1-1/2 week low as government regulators begin efforts to cool the growth of margin trading. Commodity prices are mostly higher. Mar crude oil (CLH15 +0.97%) is up +1.32%. Mar gasoline (RBH15 +0.34%) is up +0.30%. Feb gold (GCG15 +0.66%) is up +0.71%. Mar copper (HGH15 +1.16%) is up +1.04%. Agriculture prices are higher. The dollar index (DXY00 -0.26%) is down -0.35%. EUR/USD (^EURUSD) is up +0.23%. USD/JPY (^USDJPY) is down -0.52%. Mar T-note prices (ZNH15 +0.23%) are up +9.5 ticks.
The Eurozone Jan CPI estimate fell -0.6% y/y, a bigger decline than expectations of -0.5% y/y and matched the July 2009 decrease as the biggest drop since the euro currency was introduced in 1999. The Jan core CPI rose +0.6% y/y, less than expectations of +0.7% y/y and the slowest pace of increase since the data series began in 1997.
The Eurozone Dec unemployment rate unexpectedly fell -0.1 to 11.4%, better than expectations of unch at 11.5% and the lowest in 28 months.
German Dec retail sales rose +0.2% m/m, less than expectations of +0.3% m/m, but on an annual basis rose +4.0% y/y, more than expectations of +3.6% y/y and the largest annual increase in 2-1/2 years.
UK Dec net consumer credit rose +0.6 billion pounds, less than expectations of +1.2 billion pounds and the slowest pace of increase in 13 months.
UK Dec mortgage approvals rose 60,300, more than expectations of 59,000.
The Japan Dec jobless rate unexpectedly fell -0.1 to 3.4%, better than expectations of unch at 3.5% and the lowest in 17-1/2 years. The Dec job-to-applicant ratio rose +0.03 to 1.15, better than expectations of unch at 1.12 and the highest in 22-3/4 years.
Japan Dec national CPI rose +2.4% y/y, unch from Nov and higher than expectations of -0.1 to 2.3% y/y. Dec national CPI ex-fresh food rose 2.5% y/y, down -0.2 from Nov and the slowest pace of increase in 9 months. Dec national CPI ex food & energy climbed +2.1% y/y, unch from Nov and right on expectations.
Japan Dec industrial production rose +1.0% m/m, less than expectations of +1.2% m/m, although year-over-year Dec industrial production rose +0.3% y/y, right on expectations.
U.S. STOCK PREVIEW
Today’s Q4 GDP report is expected to ease to +3.1% (q/q annualized) from +5.0% in Q3. Today’s final-Jan U.S. consumer confidence index from the University of Michigan is expected to be unrevised from the early-Jan figure of 98.2, thus leaving the final-Jan figure of 98.2 up by +4.6 points from December’s level. Today’s Q4 employment cost index is expected to show an increase of +0.6% q/q, which would be slightly below the +0.7% increase seen in Q3. Today’s Jan Chicago PMI report is expected to show a -1.3 point decline to 57.5, adding to the -1.9 point decline to 58.8 seen in Dec.
There are 18 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (consensus $0.67), Chevron (1.64), Tyson Foods (0.73), AbbVie (0.86), Weyerhaeuser (0.29), Eli Lilly (0.73), Ingersoll-Rand (0.70). There are no equity conferences today.



OVERNIGHT U.S. STOCK MOVERS
Weyerhaeuser (WY -0.45%) reported Q4 EPS of 27 cents, below consensus of 29 cents.
Mattel (MAT -0.33%) reported Q4 EPS of 52 cents, well below consensus of 91 cents.
Eli Lilli (LLY +1.61%) reported Q4 EPS of 75 cents, better than consensus of 73 cents.
Eastman Chemical (EMN -0.01%) reported Q4 adjusted EPS of $1.64, higher than consensus of $1.52.
Unisys (UIS -1.21%) reported Q4 EPS of $1.60, well above consensus of $1.27.
Leggett & Platt (LEG +1.30%) reported Q4 adjusted EPS of 41 cents, less than consensus of 45 cents, and then lowered guidance on fiscal 2015 EPS to $1.90-$2.10, below consensus of $2.10.
Acuity Brands (AYI +0.16%) coverage resumed with a 'Buy' at Stifel witha price target of $185.
C.R. Bard (BCR +1.02%) reported Q4 adjusted EPS of $2.29, higher than consensus of $2.24.
JDSU (JDSU -2.43%) fell 5% in after-hours trading after it reported Q2 EPS of 15 cents, below consensus of 16 cents.
Hanesbrands (HBI +1.44%) reported Q4 adjusted EPS of $1.46, more than consensus of $1.43.
Biogen (BIIB +0.59%) reported Q4 EPS of $4.09, above consensus of $3.78, and then raised guidance on fiscal 2015 EPS to $16.60-$17.00, better than consensus of $16.37.
Broadcom (BRCM +0.83%) rose 3% in after-hours trading after it reported Q4 adjusted EPS ex-SBC of 90 cents, higher than consensus of 87 cents.
Visa (V +0.67%) climbed over 3% in after-hours trading after it reported Q1 EPS of $2.53, better than consensus of $2.49, and then announced a four-for-one stock split.
Principal Financial (PFG +0.29%) reported Q4 EPS of $1.09, higher than consensus of $1.04.
Manitowoc (MTW +0.89%) reported Q4 adjusted EPS of 27 cents, below consensus of 32 cents.
Google (GOOG +0.13%) reported Q4 EPS of $6.88, weaker than consensus of $7.11.
Amazon.com (AMZN +2.59%) jumped 11% in after-hours trading after it reported Q4 EPS of 45 cents, well above consensus of 17 cents.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 -0.69%) this morning are down -12.75 points (-0.63%). The S&P 500 index on Thursday rebounded from a 1-1/2 week low and closed higher: S&P 500 -1.35%, Dow Jones -1.13%, Nasdaq -0.60%. Bullish factors included (1) the -43,000 decline in U.S. weekly initial unemployment claims to 265,000, more than expectations of -7,000 to 300,000 and the lowest level in 14-3/4 years, and (2) strength in energy producers which recovered from early losses after crude oil rebounded from a 5-3/4 year low and closed higher. A bearish factor was the unexpected -3.7% m/m decline in U.S. Dec pending home sales, weaker than expectations of a +0.5% m/m increase and the biggest decline in a year.
Mar 10-year T-notes (ZNH15 +0.23%) this morning are up +9.5 ticks. Mar 10-year T-note futures prices on Thursday closed lower. Closes: TYH5 -9.00, FVH5 -4.75. Bearish factors included (1) the larger-than-expected decline in U.S. weekly jobless claims to the lowest level in 14-3/4 years, and (2) reduced safe-haven demand for T-notes after stocks rallied.
The dollar index (DXY00 -0.26%) this morning is down -0.328 (-0.35%). EUR/USD (^EURUSD) is up +0.0026 (+0.23%). USD/JPY (^USDJPY) is down -0.62 (-0.52%). The dollar index on Thursday closed higher: Dollar index +0.315 (+0.33%), EUR/USD +0.00324 (-0.29%), USD/JPY -0.3458 (-0.29%). Bullish factors included (1) the larger-than-expected fall in U.S. weekly jobless claims to the lowest level in 14-3/4 years, which signals labor market strength and bolsters speculation the Fed will soon raise interest rates, and (2) the increase in Eurozone Jan economic confidence to a 6-month high, which was supportive for EUR/USD.
Mar WTI crude oil (CLH15 +0.97%) this morning is up +59 cents (+1.32%) and Mar gasoline (RBH15 +0.34%) is up +0.0042 (+0.30%). Mar crude oil and Mar gasoline on Thursday recovered from early losses and closed higher: CLH5 +0.08 (+0.18%), RBH5 +0.0143 (+1.04%). Mar crude posted a 5-3/4 year low on carry-over weakness from Wednesday’s EIA report where U.S. crude inventories climbed to a record high 406.7 million bbl and U.S. crude production rose to 9.213 million bpd, the highest in over 40 years. However, fund short covering near the lows helped crude oil erase its losses and close higher.
GLOBAL EVENT CALENDAR01/30/2015
US0830 ETQ4 GDP expected +3.1% q/q annualized, Q3 +5.0%. Q4 personal consumption expected +4.0%, Q3 +3.2%. Q2 GDP price index expected +0.9%, Q3 +1.4%. Q4 GDP core PCE expected +1.1% q/q, Q3 +1.4% q/q.
0830 ETQ4 employment cost index expected +0.6%, Q3 +0.7%.
0900 ETJan Milwaukee ISM expected +0.39 to 58.00, Dec -11.32 to 57.61.
0945 ETJan Chicago PMI expected -1.3 to 57.5, Dec -1.9 to 58.8.
0955 ETFinal-Jan U.S. consumer confidence index (University of Michigan) expected unch at 98.2, prelim-Jan +4.6 to 98.2.
JPN0000 ETJapan Dec annualize housing starts expected -14.8% y/y to 900,000, Nov -14.3% y/y to 888,000.
0100 ETJapan Dec construction orders, Nov +16.9% y/y
GER0200 ETGerman Dec retail sales expected +0.3% m/m and +3.6% y/y, Nov +0.5% m/m and -0.8% y/y.
UK0430 ETUK Dec net consumer credit expected +1.2 billion pounds, Nov +1.3 billion pounds.
0430 ETUK Dec mortgage approvals expected 59,000, Nov 59,000.
0430 ETUK Dec M4 money supply, Nov unch m/m and -2.8% y/y.
EUR0500 ETEurozone Jan CPI estimate expected -0.5% y/y, Dec -0.2% y/y. Jan CPI core expected +0.7% y/y, Dec +0.7% y/y.
0500 ETEurozone Dec unemployment rate expected unch at +11.5%.
U.S. STOCK CALENDAR01/30/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Newell Rubbermaid IncNWL USBef-mktQ4 2014 Earnings ReleaseQ4 20140.481
AbbVie IncABBV USBef-mktQ4 2014 Earnings ReleaseQ4 20140.856
Chevron CorpCVX USBef-mktQ4 2014 Earnings ReleaseQ4 20141.643
Tyco International PlcTYC USBef-mktQ1 2015 Earnings ReleaseQ1 20150.491
MasterCard IncMA USBef-mktQ4 2014 Earnings ReleaseQ4 20140.674
Weyerhaeuser CoWY USBef-mktQ4 2014 Earnings ReleaseQ4 20140.287
PACCAR IncPCAR USBef-mktQ4 2014 Earnings ReleaseQ4 20141.095
Simon Property Group IncSPG USBef-mktQ4 2014 Earnings ReleaseQ4 20142.465
Eli Lilly & CoLLY USBef-mktQ4 2014 Earnings ReleaseQ4 20140.732
Mattel IncMAT US6:00Q4 2014 Earnings ReleaseQ4 20140.913
CONSOL Energy IncCNX US6:45Q4 2014 Earnings ReleaseQ4 20140.202
Altria Group IncMO US7:00Q4 2014 Earnings ReleaseQ4 20140.664
Ingersoll-Rand PLCIR US7:00Q4 2014 Earnings ReleaseQ4 20140.698
Xerox CorpXRX US7:15Q4 2014 Earnings ReleaseQ4 20140.288
Tyson Foods IncTSN US7:30Q1 2015 Earnings ReleaseQ1 20150.727
Tyco International PlcTYC US8:00Q1 2015 Earnings CallQ1 2015
Legg Mason IncLM US8:00Q3 2015 Earnings ReleaseQ3 20150.663
Legg Mason IncLM US8:00Q3 2015 Earnings CallQ3 2015
Eastman Chemical CoEMN US8:00Q4 2014 Earnings CallQ4 2014
Newell Rubbermaid IncNWL US8:30Q4 2014 Earnings CallQ4 2014
Franklin Resources IncBEN US8:30Q1 2015 Earnings ReleaseQ1 20150.934
Franklin Resources IncBEN US8:30Q1 2015 Earnings Call - Pre RecordedC1 2015
Mattel IncMAT US8:30Q4 2014 Earnings CallQ4 2014
Altria Group IncMO US9:00Q4 2014 Earnings CallQ4 2014
AbbVie IncABBV US9:00Q4 2014 Earnings CallQ4 2014
Boston Properties IncBXP US9:00Q4 2014 Earnings CallQ4 2014
MasterCard IncMA US9:00Q4 2014 Earnings CallQ4 2014
Tyson Foods IncTSN US9:00Q1 2015 Earnings CallQ1 2015
Leggett & Platt IncLEG US9:00Q4 2014 Earnings CallQ4 2014
Eli Lilly & CoLLY US9:00Q4 2014 Earnings CallQ4 2014
CONSOL Energy IncCNX US10:00Q4 2014 Earnings CallQ4 2014
Weyerhaeuser CoWY US10:00Q4 2014 Earnings CallQ4 2014
Xerox CorpXRX US10:00Q4 2014 Earnings CallQ4 2014
Principal Financial Group IncPFG US10:00Q4 2014 Earnings CallQ4 2014
Ingersoll-Rand PLCIR US10:00Q4 2014 Earnings CallQ4 2014
Chevron CorpCVX US11:00Q4 2014 Earnings CallQ4 2014
Franklin Resources IncBEN US11:00Q1 2015 Earnings CallQ1 2015
Tyson Foods IncTSN US11:00Annual General MeetingY 2015
Simon Property Group IncSPG US11:00Q4 2014 Earnings CallQ4 2014
PACCAR IncPCAR US12:00Q4 2014 Earnings CallQ4 2014
Monsanto CoMON US14:30Annual General MeetingY 2015
Computer Sciences CorpCSC USQ3 2015 Earnings ReleaseQ3 20151.115
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Wednesday, October 22, 2014

BARCHART MORNING CALL 10/22

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ14 -0.21%) this morning fell back from a 1-week high in overnight trade and are down -0.15% and European stocks slipped -0.09% after ECB Governing Council member Luc Coene told the L'Echo newspaper that the ECB has "no concrete proposal" on corporate bond buying and that "it's too early to say if we'll adopt additional stimulus measures." European stocks had rallied on Tuesday after Reuters reported that the ECB is considering corporate-bond purchases to fight the threat of deflation in the Eurozone. Asian stocks closed mostly higher: Japan +2.64%, Hong Kong +1.37%, China -0.61%, Taiwan +1.09%, Australia +1.14%, Singapore closed for holiday, South Korea +1.09%, India +0.80%. Japan's Nikkei Stock Index rose to a 1-week high on signs of a rebound in the Japanese economy after Japan Sep exports rose more than expected by the most in 7 months. Commodity prices are mixed. Dec crude oil (CLZ14 +0.25%) is up +0.27%. Dec gasoline (RBZ14 +0.58%) is up +0.65%. Dec gold (GCZ14 -0.25%) is down -0.46%. Dec copper (HGZ14 +0.36%) is up +0.33%. Agriculture and livestock prices are mostly higher. The dollar index (DXY00 +0.13%) is up +0.24%. EUR/USD (^EURUSD) is down -0.15%. USD/JPY (^USDJPY) is down -0.01%. GBP/USD is down -0.37% after the minutes of the Oct 8-9 BOE policy meeting showed a majority of policy makers saw increased risks to the UK economy from a slump in the Eurozone. Dec T-note prices (ZNZ14 +0.09%) are up +0.5 of a tick.
The Japan Sep trade balance unexpectedly widened to a deficit of -958.3 billion yen from a revised -949.7 billion yen deficit in Aug, when expectations were for the deficit to shrink to -780.0 billion yen. Sep exports rose +6.9% y/y, more than expectations of +6.5% y/y and the most in 7 months. Sep imports climbed +6.2% y/y, over double expectations of +2.7% y/y.
The minutes of the Oct 8-9 BOE policy meeting showed members voted 7-2 to keep the policy rate unchanged at 0.50% and 9-0 to maintain the asset purchase target at 375 billion pounds. Most BOE members expressed concern over risks to the UK recovery from slowing global economic growth and weaker Eurozone economy, with a majority of the members saying the CPI outlook doesn't justify a rate increase.
U.S. STOCK PREVIEW
The market is expecting today’s Sep CPI report to ease to a 6-month low of +1.6% y/y from +1.7% in August.  Meanwhile, the market is expecting today’s Sep core CPI to remain unchanged from August’s 6-month low of +1.7% y/y.  There are 32 of the S&P 500 companies that report earnings today with notable reports including:  AT&T (consensus $0.64), Abbott Labs (0.60), Boeing (1.97), Dow Chemical (0.67), General Dynamics (1.91), Northern Trust (0.87), US Bancorp (0.78), Northrup Grumman (2.13), Ingersoll-Rand (1.03), Citrix (0.73).  Equity conferences during the remainder of this week include:  Latin Markets Private Wealth Latin America and the Caribbean Forum on Thu.
OVERNIGHT U.S. STOCK MOVERS
VMware (VMW +0.60%) dropped nearly 2% in pre-market trading after reported Q3 EPS of 87 cents, higher than consensus of 83 cents, but then lowered guidance for Q4 sales to $1.67 billion to $1.171 billion, below consensus of $1.71 billion.
Boeing (BA +2.26%) reported Q3 EPS of $2.14, well ahead of consensus of $1.97.
Ingersoll-Rand PLC (IR +2.08%) reported Q3 EPS of $1.10, stronger than consensus of $1.03.
Stanley Black & Decker (SWK +1.93%) reported Q3 EPS of $1.55, better than consensus of $1.44.
Northrop Grumman (NOC +1.17%) reported Q3 EPS of $2.26, higher than consensus of $2.13.
Nabors Industries (NBR +4.36%) reported Q3 ex-items EPS of 39 cents, better than consensus of 36 cents.
Unisys (UIS +1.41%) reported Q3 adjusted EPS of $1.30, more than twice consensus of 60 cents.
Six Flags (SIX +3.92%) reported Q3 EPS ex-items of $1.56, higher than consensus of $1.50.
E-Trade (EFTC) reported Q3 EPS of 29 cents, better than consensus of 22 cents.
FMC Technologies (FTI +3.56%) reported Q3 EPS of 72 cents, less than consensus of 74 cents.
Intuitive Surgical (ISRG +2.17%) gained over 2% in after-hours trading after it reported adjusted Q3 EPS of $3.92, stronger than consensus of $3.80.
Discover (DFS +2.68%) reported Q3 EPS of $1.37, higher than consensus of $1.34.
Yahoo (YHOO +2.29%) climbed over 2% in after-hours trading after it reported Q3 EPS of 52 cents, much better than consensus of 30 cents.
Broadcom (BRCM +2.84%) jumped 6% in after-hours trading after it reported Q3 adjusted EPS of 91 cents, well above consensus of 84 cents.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ14 -0.21%) this morning are down -3.00 points (-0.15%). The S&P 500 index on Tuesday rallied up to a 1-1/2 week high and closed sharply higher: S&P 500 +1.96%, Dow Jones +1.31%, Nasdaq +2.62%. Bullish factors included (1) signs of U.S. economic strength after Sep existing home sales rose +2.4% to 5.17 million, better than expectations of +1.0% to 5.10 million and the most in a year, (2) strength in technology stocks after Apple gained more than 2% when it reported stronger-than-expected Q4 earnings results, and (3) reduced Chinese economic concerns after China Q3 GDP rose +7.3% y/y, a faster pace of expansion than expectations of +7.2% y/y.
Dec 10-year T-notes (ZNZ14 +0.09%) this morning are up +0.5 of a tick. Dec 10-year T-note futures prices on Tuesday closed lower. Closes: TYZ4 -5.00, FVZ4 -1.25. Negative factors included (1) the larger-than-expected increase in Sep existing home sales by the most in a year, and (2) reduced safe-haven demand for T-notes after the S&P 500 rallied up to a 1-1/2 week high.
The dollar index (DXY00 +0.13%) this morning is up +0.208 (+0.24%). EUR/USD (^EURUSD) is down -0.0019 (-0.15%). USD/JPY ^USDJPY) is down -0.02 (-0.02%). The dollar index on Tuesday closed higher on signs of U.S. economic strength after Sep existing home sales rose more than expected by the most in a year. Closes: Dollar index +0.397 (+0.47%), EUR/USD -0.00837 (-0.65%), USD/JPY +0.05 (+0.05%). EUR/USD retreated after Reuters reported that unidentified sources familiar with the situation said the ECB could make a decision on adding corporate bond purchases to its easing measures as soon as December.
Dec WTI crude oil (CLZ14 +0.25%) this morning is up +22 cents (+0.27%) and Dec gasoline (RBZ14 +0.58%) is up +0.0141 (+0.65%). Dec crude and Dec gasoline on Tuesday closed higher. Closes: CLZ4 +0.58 (+0.71%), RBZ4 +0.0145 (+0.68%). Bullish factors included (1) signs of stronger Chinese oil demand after China Q3 GDP grew at a faster than expected pace and after China Sep crude processing rose +9.1% y/y to 10.3 million bpd, the most in 15 months, and (2) the stronger-than-expected U.S. Sep existing home sales that boosted stocks and bolstered the economic outlook.
GLOBAL EVENT CALENDAR10/22/2014
US0700 ETWeekly MBA mortgage applications, previous +5.6% with purchase sub-index -0.7% and refi sub-index +10.6%.
0830 ETSep CPI expected unch m/m and +1.6% y/y, Aug -0.2% m/m and +1.7% y/y. Sep CPI ex food & energy expected +0.1% m/m and +1.7% y/y, Aug unch m/m and +1.7% y/y.
1030 ETEIA Weekly Petroleum Status Report.
1500 ETUSDA Sep Cold Storage.
UK0430 ETMinutes of the Oct 8-9 BOE policy meeting.
JPN2135 ETJapan Oct Markit/JMMA manufacturing PMI expected unch at 51.7.
CHI2145 ETChina Oct HSBC manufacturing PMI expected unch at 50.2, Sep unch at 50.2.
U.S. STOCK CALENDAR10/22/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Abbott LaboratoriesABT USBef-mktQ3 2014 Earnings ReleaseQ3 20140.598
Boeing Co/TheBA USBef-mktQ3 2014 Earnings ReleaseQ3 20141.969
Dow Chemical Co/TheDOW USBef-mktQ3 2014 Earnings ReleaseQ3 20140.673
Biogen Idec IncBIIB USBef-mktQ3 2014 Earnings ReleaseQ3 20143.488
General Dynamics CorpGD USBef-mktQ3 2014 Earnings ReleaseQ3 20141.912
Northern Trust CorpNTRS USBef-mktQ3 2014 Earnings ReleaseQ3 20140.87
Simon Property Group IncSPG USBef-mktQ3 2014 Earnings ReleaseQ3 20141.856
Interpublic Group of Cos Inc/TheIPG USBef-mktQ3 2014 Earnings ReleaseQ3 20140.211
US Bancorp/MNUSB USBef-mktQ3 2014 Earnings ReleaseQ3 20140.779
Stanley Black & Decker IncSWK US6:00Q3 2014 Earnings ReleaseQ3 20141.443
Thermo Fisher Scientific IncTMO US6:00Q3 2014 Earnings ReleaseQ3 20141.69
Northrop Grumman CorpNOC US7:00Q3 2014 Earnings ReleaseQ3 20142.133
Boston Scientific CorpBSX US7:00Q3 2014 Earnings ReleaseQ3 20140.195
Xerox CorpXRX US7:00Q3 2014 Earnings ReleaseQ3 20140.263
Sigma-Aldrich CorpSIAL US7:00Q3 2014 Earnings ReleaseQ3 20141.058
Ingersoll-Rand PLCIR US7:00Q3 2014 Earnings ReleaseQ3 20141.028
Ryder System IncR US7:55Q3 2014 Earnings ReleaseQ3 20141.628
Norfolk Southern CorpNSC US8:00Q3 2014 Earnings ReleaseQ3 20141.827
Boston Scientific CorpBSX US8:00Q3 2014 Earnings CallQ3 2014
Stanley Black & Decker IncSWK US8:00Q3 2014 Earnings CallQ3 2014
Hudson City Bancorp IncHCBK US8:00Q3 2014 Earnings ReleaseQ3 20140.056
Amphenol CorpAPH US8:00Q3 2014 Earnings ReleaseQ3 20140.569
Thermo Fisher Scientific IncTMO US8:30Q3 2014 Earnings CallQ3 2014
ACE LtdACE US8:30Q3 2014 Earnings CallQ3 2014
Biogen Idec IncBIIB US8:30Q3 2014 Earnings CallQ3 2014
EMC Corp/MAEMC US8:30Q3 2014 Earnings ReleaseQ3 20140.462
EMC Corp/MAEMC US8:30Q3 2014 Earnings CallQ3 2014
Interpublic Group of Cos Inc/TheIPG US8:30Q3 2014 Earnings CallQ3 2014
Norfolk Southern CorpNSC US8:45Q3 2014 Earnings CallQ3 2014
Abbott LaboratoriesABT US9:00Q3 2014 Earnings CallQ3 2014
Parker-Hannifin CorpPH US9:00Annual General MeetingY 2014
Dow Chemical Co/TheDOW US9:00Q3 2014 Earnings CallQ3 2014
FMC Technologies IncFTI US9:00Q3 2014 Earnings CallQ3 2014
General Dynamics CorpGD US9:00Q3 2014 Earnings CallQ3 2014
US Bancorp/MNUSB US9:00Q3 2014 Earnings CallQ3 2014
Xerox CorpXRX US10:00Q3 2014 Earnings CallQ3 2014
Ingersoll-Rand PLCIR US10:00Q3 2014 Earnings CallQ3 2014
Boeing Co/TheBA US10:30Q3 2014 Earnings CallQ3 2014
Ryder System IncR US11:00Q3 2014 Earnings CallQ3 2014
Nabors Industries LtdNBR US11:00Q3 2014 Earnings CallQ3 2014
Simon Property Group IncSPG US11:00Q3 2014 Earnings CallQ3 2014
Northrop Grumman CorpNOC US12:00Q3 2014 Earnings CallQ3 2014
Northern Trust CorpNTRS US12:00Q3 2014 Earnings CallQ3 2014
Amphenol CorpAPH US13:00Q3 2014 Earnings CallQ3 2014
CR Bard IncBCR US16:05Q3 2014 Earnings ReleaseQ3 20142.099
Citrix Systems IncCTXS US16:05Q3 2014 Earnings ReleaseQ3 20140.728
CA IncCA US16:05Q2 2015 Earnings ReleaseQ2 20150.623
AT&T IncT US16:30Q3 2014 Earnings CallQ3 2014
Citrix Systems IncCTXS US16:45Q3 2014 Earnings CallQ3 2014
Lam Research CorpLRCX US17:00Q1 2015 Earnings CallQ1 2015
Tractor Supply CoTSCO US17:00Q3 2014 Earnings CallQ3 2014
CR Bard IncBCR US17:00Q3 2014 Earnings CallQ3 2014
CA IncCA US17:00Q2 2015 Earnings CallQ2 2015
Varian Medical Systems IncVAR US17:00Q4 2014 Earnings CallQ4 2014
Lam Research CorpLRCX USAft-mktQ1 2015 Earnings ReleaseQ1 20150.931
Tractor Supply CoTSCO USAft-mktQ3 2014 Earnings ReleaseQ3 20140.503
AT&T IncT USAft-mktQ3 2014 Earnings ReleaseQ3 20140.637
Torchmark CorpTMK USAft-mktQ3 2014 Earnings ReleaseQ3 20141.024
Equifax IncEFX USAft-mktQ3 2014 Earnings ReleaseQ3 20140.987
Varian Medical Systems IncVAR USAft-mktQ4 2014 Earnings ReleaseQ4 20141.211
Leggett & Platt IncLEG USAft-mktQ3 2014 Earnings ReleaseQ3 20140.487
O'Reilly Automotive IncORLY US18:30Q3 2014 Earnings ReleaseQ3 20141.955
Seagate Technology PLCSTX USAnnual General Meeting
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Wednesday, October 23, 2013

BARCHART MORNING CALL 10/23

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ13 -0.54%) this morning are down -0.54% and European stocks are down -1.07% as global stocks fall back from their recent rally. Asian stocks closed lower: Japan -1.95%, Hong Kong -1.36%, China -1.12%, Taiwan -0.29%, Australia -0.32%, Singapore -0.17%, South Korea -1.14%, India -0.47%. Global stocks retreated on signs the PBOC may be leaning toward tighter monetary policy as borrowing costs rose. China's 7-day repurchase rate surged 47 bp to 4.05% as the PBOC has refrained from selling reverse-repurchase contracts, which adds funds to the financial system, since Oct 17. European stocks were also dragged lower by a 5% drop in Orange SA after France's largest telecommunications company reported decreased earnings. Also, technology stocks took a hit as STMicroelectronics tumbled over 6% after Europe's biggest semiconductor maker reported a net loss. Commodity prices are mixed. Dec crude oil (CLZ13 -1.33%) is down -1.55% at a new 3-1/2 month low on expectations that today's EIA inventory report will show a 3 million bbl increase in crude supplies. Dec gasoline (RBZ13 -0.39%) is down -0.36% at a 2-week low. Dec gold (GCZ13 -0.79%) is down -0.89% and Dec copper (HGZ13 -1.47%) is down -0.91%. Agricultural and livestock prices are mostly higher. The dollar index (DXY00 +0.14%) is up +0.16%. EUR/USD (^EURUSD) is down -0.27% and USD/JPY (^USDJPY) is down -0.83% at a 2-week low on increased demand for the yen as global stocks slide. December T-note prices (ZNZ13 +0.09%) are up +3 ticks as the 10-year T-note yield slipped to a 3-month low of 2.48% on carry-over support from Tuesday's weaker-than-expected Sep payrolls report that bolstered the outlook for the Fed to maintain QE3.
The minutes of the Oct 9-10 BOE meeting showed that members voted unanimously to keep policy unchanged as economic data pointed to a "robust" recovery. The minutes stated that "The news on the month had continued to suggest a robust recovery in activity," with confidence rising and surveys pointing to growth of about 2% over the second half of the year. "Market rates had fallen back over the month and output appeared to be expanding at least as fast as expected" in August. "All members therefore agreed that there was currently little case for increasing the degree of monetary stimulus further."
U.S. STOCK PREVIEW
Today’s Aug FHFA house price index is expected to show another strong increase of +0.8% m/m, adding to July’s +1.0% m/m increase to a new 5-year high of 205.5.   There are 39 of the S&P 500 companies that report earnings today with notable reports including WellPoint, Eli Lilly, AEP, Northrop Grumman, General Dynamics, Motorola Solutions, Nasdaq, Boeing, Bristol-Myers Squibb, Caterpillar, AT&T, and Symantec.  Equity conferences this week include:  4th Annual Manufacturing Strategies on Tue-Wed, Oil Council 2013 North America Assembly on Tue-Wed.
OVERNIGHT U.S. STOCK MOVERS
Eli Lilly (LLY +1.01%) reported Q3 EPS of $1.11, better than consensus of $1.04.
Northrop Grumman (NOC +1.26%) reported Q3 EPS of $2.14, stronger than consensus of $1.82.
General Dynamics (GD +0.18%) reported Q3 EPS of $1.84, well ahead of consensus of $1.68.
NASDAQ OMX Group (NDAQ -0.33%) reported Q3 EPS of 66 cents, better than consensus of 62 cents.
Netflix (NFLX -9.15%) fell over 2% in after-hours trading after billionare investor Carl Icahn reported a sale of 2.99 million shares of Netflix.
Unisys (UIS +1.75%) reported Q3 adjusted EPS of 25 cents, weaker than consensus of 40 cents.
Reuters reported that JPMorgan Chase's (JPM -1.20%) $13 billion settlement with the U.S. could cost the bank closer to $9 billion, as most of the deal is expected to be tax deductible.
Apollo Group (APOL +0.10%) jumped over 12% in after-hours tradng after it reported Q4 EPS ex-items of 55 cents, more than double consensus of 25 cents.
C.R. Bard (BCR +0.67%) reported Q3 EPS of $1.50, well ahead of consensus of $1.40.
Corning (GLW +1.72%) soared over 20% in pre-market trading after it reported preliminary Q3 EPS of 33 cents, better than consensus of 32 cents, and said it approved a $2 billion stock buyback and agreed to purchase full ownership of Samsung Electronics' 43% stake in Samsung Corning Precision Materials Co., which makes glass for liquid crystal displays in South Korea.
Broadcom (BRCM -0.66%) fell over 6% in after-hours trading after it reported Q3 adjusted EPS of 76 cents, better than consensus of 69 cents, but then announced it will cut 1,150 jobs as part of a restructuring,
Juniper (JNPR -2.35%) reported preliminary Q3 EPS of 33 cents, better than consensus of 31 cents.
Amgen (AMGN +2.26%) reported Q3 EPS of $1.94, stronger than consensus of $1.77, and then raised guidance on fiscal 2013 EPS to $7.35 to $7.45, better than consensus of $7.32.
FMC Technologies (FTI -0.45%) reported Q3 EPS of 49 cents, well below consensus of 59 cents.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ13 -0.54%) this morning are down -9.50 points (-0.54%). The S&P 500 index on Tuesday surged to yet another record high and closed higher. Stocks rallied on bullish factors that included (1) the +148,000 increase in Sep non-farm payrolls, less than expectations of +180,000, which nearly assures that the Fed will not taper QE3 until at least next year, (2) the +0.6% increase in Aug construction spending, better than expectations of +0.4%, and (3) strong Q3 earnings results thus far as 73% of the 131 S&P 500 companies that have released earnings have beaten estimates. Closes: S&P 500 +0.57%, Dow Jones +0.49%, Nasdaq 100 +0.17%.
Dec 10-year T-notes (ZNZ13 +0.09%) this morning are up +3 ticks and the 10-year T-note yield fell below 2.50% for the first time in 3 months. Dec 10-year T-note prices on Tuesday closed higher and the 10-year T-note field fell to a 3-month low of 2.51%. The main bullish factor for T-note prices was the smaller-than-expected increase in Sep non-farm payrolls that bolstered speculation the Fed will maintain its $85 billion a month of bond purchases. Closes: TYZ3 +24, FVZ3 +11.25.
The dollar index (DXY00 +0.14%) this morning is up +0.128 (+0.16%). EUR/USD (^EURUSD) is down -0.0037 (-0.27%) and USD/JPY (^USDJPY) is down -0.81 (-0.83%) at a 2-week low. The dollar index on Tuesday tumbled to an 8-1/2 month low and closed lower after the smaller-than-expected increase in Sep non-farm payrolls boosted speculation the Fed will refrain from tapering QE3. EUR/USD posted a 1-3/4 year high as prices surged on technical buying after the euro accelerated above 1.37 per dollar. Closes: Dollar index -0.465 (-0.58%), EUR/USD +0.0100 (+0.73%), USD/JPY -0.054 (-0.05%).
Dec WTI crude oil (CLZ13 -1.33%) this morning is down -$1.52 (-1.55%) at a 3-1/2 month low and Dec gasoline (RBZ13 -0.39%) is down -0.0094 (-0.36%) at a 2-week low. Dec crude oil and gasoline prices on Tuesday erased an early rally and closed lower. Dec crude prices fell to a 3-1/2 month low on bearish factors that included (1) negative carry-over from Monday's EIA inventory report that showed a +4.0 million bbl increase in EIA crude inventories to a 3-1/2 month high, (2) concern about U.S. energy demand after Sep non-farm payrolls rose less than expected, and (3) expectations that Wednesday's EIA inventory data will show crude oil stockpiles rose for a fifth week. Closes: CLZ3 -1.38 (-1.38%), RBZ3 -0.0333 (-1.26%).
GLOBAL EVENT CALENDAR10/23/2013
US0700 ETWeekly MBA mortgage applications, previous +0.3% with purchase sub-index -4.8% and refi sub-index +3.3%.
0830 ETSep import prices expected +0.2% m/m and -1.0% y/y, Aug unch m/m and -0.4% y/y.
0900 ETAug FHFA house price index purchase-only expected +0.8% m/m, July +1.0% m/m.
1030 ETEIA Weekly Petroleum Status Report.
UK0430 ETMinutes of the Oct 9-10 BOE policy meeting.
EUR1000 ETEurozone Oct consumer confidence expected +0.4 to -14.5, Sep -14.9.
CHI2145 ETChina Oct HSBC/Markit flash manufacturing PMI expected +0.2 to 50.4, Sep +0.1 to 50.2.
U.S. STOCK CALENDAR10/23/2013
Company NameTickerTimeEvent DescriptionPeriodEstimate
Dr Pepper Snapple Group IncDPS USBef-mktQ3 2013 Earnings ReleaseQ3 20130.834
Nielsen Holdings NVNLSN USBef-mktQ3 2013 Earnings ReleaseQ3 20130.482
Prologis IncPLD USBef-mktQ3 2013 Earnings ReleaseQ3 20130.412
Lorillard IncLO USBef-mktQ3 2013 Earnings ReleaseQ3 20130.807
Hudson City Bancorp IncHCBK USBef-mktQ3 2013 Earnings ReleaseQ3 20130.082
WellPoint IncWLP US6:00Q3 2013 Earnings ReleaseQ3 20131.818
Thermo Fisher Scientific IncTMO US6:00Q3 2013 Earnings ReleaseQ3 20131.282
Wyndham Worldwide CorpWYN US6:30Q3 2013 Earnings ReleaseQ3 20131.362
Eli Lilly & CoLLY US6:30Q3 2013 Earnings ReleaseQ3 20131.038
American Electric Power Co IncAEP US6:57Q3 2013 Earnings ReleaseQ3 20131.082
Motorola Solutions IncMSI US7:00Q3 2013 Earnings ReleaseQ3 20131.019
Northrop Grumman CorpNOC US7:00Q3 2013 Earnings ReleaseQ3 20131.817
Allegheny Technologies IncATI US7:00Q3 2013 Earnings ReleaseQ3 2013-0.279
General Dynamics CorpGD US7:00Q3 2013 Earnings ReleaseQ3 20131.678
NASDAQ OMX Group Inc/TheNDAQ US7:00Q3 2013 Earnings ReleaseQ3 20130.622
Airgas IncARG US7:30Q2 2014 Earnings ReleaseQ2 20141.232
Boeing Co/TheBA US7:30Q3 2013 Earnings ReleaseQ3 20131.515
Bristol-Myers Squibb CoBMY US7:30Q3 2013 Earnings ReleaseQ3 20130.442
Caterpillar IncCAT US7:30Q3 2013 Earnings ReleaseQ3 20131.674
Molex IncMOLX US7:30Q1 2014 Earnings ReleaseQ1 20140.373
Motorola Solutions IncMSI US8:00Q3 2013 Earnings CallQ3 2013
Norfolk Southern CorpNSC US8:00Q3 2013 Earnings ReleaseQ3 20131.388
NASDAQ OMX Group Inc/TheNDAQ US8:00Q3 2013 Earnings CallQ3 2013
WellPoint IncWLP US8:30Q3 2013 Earnings CallQ3 2013
Nielsen Holdings NVNLSN US8:30Q3 2013 Earnings CallQ3 2013
Allegheny Technologies IncATI US8:30Q3 2013 Earnings CallQ3 2013
Wyndham Worldwide CorpWYN US8:30Q3 2013 Earnings CallQ3 2013
Thermo Fisher Scientific IncTMO US8:30Q3 2013 Earnings CallQ3 2013
ACE LtdACE US8:30Q3 2013 Earnings CallQ3 2013
Norfolk Southern CorpNSC US8:45Q3 2013 Earnings CallQ3 2013
American Electric Power Co IncAEP US9:00Q3 2013 Earnings CallQ3 2013
Parker Hannifin CorpPH US9:00Annual General MeetingY 2013
Lorillard IncLO US9:00Q3 2013 Earnings CallQ3 2013
FMC Technologies IncFTI US9:00Q3 2013 Earnings CallQ3 2013
General Dynamics CorpGD US9:00Q3 2013 Earnings CallQ3 2013
Eli Lilly & CoLLY US9:00Q3 2013 Earnings CallQ3 2013
Molex IncMOLX US9:30Q1 2014 Earnings CallQ1 2014
Airgas IncARG US10:00Q2 2014 Earnings CallQ2 2014
Citigroup IncC US10:00Q3 2013 Earnings Call - Fixed IncomeC3 2013
Bristol-Myers Squibb CoBMY US10:00Q3 2013 Earnings CallQ3 2013
Boeing Co/TheBA US10:30Q3 2013 Earnings CallQ3 2013
Dr Pepper Snapple Group IncDPS US11:00Q3 2013 Earnings CallQ3 2013
Caterpillar IncCAT US11:00Q3 2013 Earnings CallQ3 2013
Nabors Industries LtdNBR US11:00Q3 2013 Earnings CallQ3 2013
Equifax IncEFX USAft-mktQ3 2013 Earnings ReleaseQ3 20130.884
Varian Medical Systems IncVAR USAft-mktQ4 2013 Earnings ReleaseQ4 20131.113
Leggett & Platt IncLEG USAft-mktQ3 2013 Earnings ReleaseQ3 20130.437
LSI CorpLSI USAft-mktQ3 2013 Earnings ReleaseQ3 20130.161
Symantec CorpSYMC USAft-mktQ2 2014 Earnings ReleaseQ2 20140.437
AvalonBay Communities IncAVB USAft-mktQ3 2013 Earnings ReleaseQ3 20131.175
Assurant IncAIZ USAft-mktQ3 2013 Earnings ReleaseQ3 20131.504
F5 Networks IncFFIV USQ4 2013 Earnings ReleaseQ4 20131.187
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