Showing posts with label VRSK. Show all posts
Showing posts with label VRSK. Show all posts

Wednesday, August 3, 2016

MORNING CALL 8/3

MORNING CALL
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.22%) are down -0.20% ahead of data on U.S. Jul ADP employment. Losses in U.S. stock index futures were limited as energy producing stocks rose as the price of crude oil (CLU16 +0.38%) climbed +0.51% after API data late yesterday showed U.S. oil inventories fell by -1.34 million bbl. European stocks are down -0.01% at a 3-week low as automakers fell after tire manufacturer Continental AG dropped over 1% when it reported Q2 revenue that was below expectations. Losses in European stocks were contained after the Eurozone Jul Markit composite PMI unexpectedly accelerated to the highest in six months. Activity in European trading was muted ahead of tomorrow's BOE policy meeting that is expected to show the BOE boosting easing measures to contain the Brexit fallout. Asian stocks settled mostly lower: Japan -1.88%, Hong Kong -1.76%, China +0.24%, Taiwan -0.74%, Australia-1.35%, Singapore -1.02%, South Korea -1.30%, India -1.02%. Chinese stocks closed higher after brokerage-related stocks rallied after people familiar with the matter said that China's futures exchange is planning to relax trading restrictions it implemented last year after China's stock market rout. Japan's Nikkei Stock Index fell to a 3-week low as exporter stocks sold-off when USD/JPY tumbled to a 3-week low on disappointment over the size of Prime Minister Abe's stimulus package.
The dollar index (DXY00 +0.20%) is up +0.20%. EUR/USD (^EURUSD) is down -0.20%. USD/JPY (^USDJPY) is up +0.36%.
Sep T-note prices (ZNU16 -0.01%) are down -1 tick.
The Eurozone Jul Markit composite PMI was revised upward to 53.2 from the originally reported 52.9, the fastest pace of expansion in 6 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -11.2% with purchase sub-index -3.3% and refi sub-index -15.1%), (2) Jul ADP employment (expected +170,000, Jun +172,000), (3) revised-Jul Markit services PMI (expected +0.1 to 51.0, prelim-Jul -0.5 to 50.9), (4) Jul ISM non-manufacturing PMI (expected -0.5 to 56.0, Jun +3.6 to 56.5), (5) EIA Weekly Petroleum Status Report.
There are 29 of the S&P 500 companies that report earnings today with notable reports including: Time Warner (consensus $1.17), Marathon Oil (-0.25), Allstate (0.58), ICE (3.38), Humana (2.28), Prudential Financial (2.50), MetLife (1.35), First Solar (0.54). TripAdvisor (0.42).
U.S. IPO's scheduled to price today: At Home Group (HOME), Atomera (ATMR)
Equity conferences this week include: Wells Fargo Services Conference on Wed-Thu.
OVERNIGHT U.S. STOCK MOVERS
American International Group (AIG -0.13%) gained over 2% in pre-market trading after it reported Q2 operating EPS of 98 cents, higher than consensus of 92 cents, and then said it will add up to $3 billion to its stock buyback plan.
Verisk Analytics (VRSK -1.34%) lost over 4% in after-hours trading after it reported Q2 adjusted EPS continuing operations of 73 cents, below consensus of 76 cents.
Hanesbrands (HBI -3.39%) fell nearly 5% in after-hours trading after it reported Q2 adjusted EPS of 51 cents, weaker than consensus of 52 cents.
Phillips 66 (PSX +2.55%) was upgraded to 'Outperform' from 'Market Perform' at Cowen.
Fitbit (FIT -3.87%) rose over 5% in after-hours trading after it reported Q2 adjusted EPS of 12 cents, above consensus of 11 cents.
Qorvo (QRVO -3.18%) slid over 7% in after-hours trading after it reported fiscal-year Q1 gross margin of 48.2%, weaker than consensus of 50% and then said it sees fiscal-year Q2 gross margin of 47%, below consensus of 50.3%.
Community Health Systems (CYH -3.02%) dropped over 12% in after-hours trading after it reported Q2 adjusted EPS continuing operations of 9 cents, well below consensus of 56 cents, and then lowered its view of 2016 EPS continuing operations to $1.40-$1.90 from a prior view of $2.50-$2.80.
Hudson Technologies (HDSN +7.41%) gained over 3% in after-hours trading after it reported Q2 EPS of 14 cents, higher than consensus of 11 cents.
Oclaro (OCLR -3.99%) rose over 9% in after-hours trading after it reported Q4 adjusted EPS of 11 cents, better than consensus of 6 cents, and then forecast Q1 revenue of $126 million-$134 million, above consensus of $118.6 million.
Stone Energy (SGY -1.16%) sank 20% in after-hours trading after it reported a Q2 adjusted loss of -$7.45, a bigger loss than consensus of -$6.12.
Big 5 Sporting Goods (BGFV +1.65%) climbed nearly 10% in after-hours trading after it reported Q2 net sales of $241.4 million, above consensus of $239 million.
ZAGG Inc. (ZAGG -0.31%) jumped over 11% in after-hours trading after it reported Q2 adjusted EPS of 11 cents, well above consensus of 2 cents.
Cray (CRAY -0.92%) plunged 20% in after-hours trading after it reported a Q2 adjusted EPS loss of -29 cents, a wider loss than consensus of -2 cents, and then cut its fiscal 2016 revenue estimate to in the range of $650 million, well below consensus of $796 million.
MARKET COMMENTS
Sep E-mini S&Ps (ESU16 -0.22%) this morning are down -4.25 points (-0.20%). Tuesday's closes: S&P 500 -0.64%, Dow Jones -0.49%, Nasdaq -0.77%. The S&P on Tuesday tumbled to a 2-1/2 week low and closed lower on the weaker-than-expected +0.2% increase in U.S. Jun personal income (vs expectations of +0.3%) and weakness in energy producers due to the -1.37% drop in crude oil prices to a new 3-1/2 month low. Stocks were also undercut by long liquidation pressures after the +9.4% rally in the S&P 500 over the past month to Monday's all-time high.
Sep 10-year T-notes (ZNU16 -0.01%) this morning are down -1 tick. Tuesday's closes: TYU6 -8.00, FVU6 -3.00. Sep T-notes on Tuesday closed lower on negative carry-over from a slide in German bund prices after Eurozone Jun PPI rose more than expected and the +0.4% increase in U.S. Jun personal spending (stronger than expectations of +0.3%).
The dollar index (DXY00 +0.20%) this morning is up +0.187 (+0.20%). EUR/USD (^EURUSD) is down -0.0023 (-0.20%). USD/JPY (^USDJPY) is up +0.36 (+0.36%). Tuesday's closes: Dollar index -0.649 (-0.68%), EUR/USD +0.0061 (+0.55%), USD/JPY -1.50 (-1.46%). The dollar index on Tuesday dropped to a 1-1/4 month low and closed lower on strength in EUR/USD which rallied to a 1-1/4 month high after Eurozone Jun PPI rose +0.7% m/m, the largest monthly increase in 3-3/4 years, perhaps keeping the ECB from expanding stimulus measures. In addition, USD/JPY fell to a 3-week low on a yen rally generated by some disappointment that the Japanese government announced only 4.6 trillion yen ($45 billion) in extra spending for the current fiscal year as part of its fiscal stimulus package.
Sep WTI crude oil (CLU16 +0.38%) this morning is up +20 cents (+0.51%) and Sep gasoline (RBU16 -0.41%) is down -0.0037 (-0.38%). Tuesday's closes: CLU6 -0.55 (-1.37%), RBU6 +0.0080 (+0.61%). Sep crude oil and gasoline on Tuesday settled mixed with Sep crude at a 3-1/2 month low. Crude oil was undercut by increased OPEC output as OPEC July crude production rose +130,000 bpd to a record 33.24 million bpd. Gasoline received a boost from the fall in the dollar index to a 1-1/4-month low and on increased refinery demand for gasoline as the crack spread rose to a 1-month high.
GLOBAL EVENT CALENDAR08/03/2016
Wednesday, Aug 3
US0700 ETWeekly MBA mortgage applications, previous -11.2% with purchase sub-index -3.3% and refi sub-index -15.1%.
0815 ETJul ADP employment change expected +170,000, Jun +172,000.
0830 ETTreasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion) and 30-year T-bonds (previous $12 billion) to be auctioned Aug 9-11 in the Aug quarterly refunding.
0945 ETRevised Jul Markit services PMI expected +0.1 to 51.0; prelim-Jul -0.5 to 50.9. Revised Jul Markit composite PMI, prelim-Jul +0.3 to 51.5.
1000 ETJul ISM non-manufacturing PMI expected -0.5 to 56.0, Jun +3.6 to 56.5.
1030 ETEIA Weekly Petroleum Status Report.
Thursday, Aug 4
ThuUS0730 ETJul Challenge job cuts, Jun -14.1% y/y.
0830 ETWeekly initial unemployment claims expected -1,000 to 265,000, previous +14,000 to 266,000. Weekly continuing claims expected-9,000 to 2.130 million, previous +7,000 to 2.139 million.
0830 ETUSDA weekly Export Sales.
1000 ETJun factory orders expected -1.9% and -0.2% ex transportation, May -1.0% and +0.1% ex-transportation.
GER0330 ETGerman Jul Markit construction PMI, Jun 50.4.
UK0400 ETUK Jul new car registrations, Jun -0.8% y/y.
0700 ETBOE Quarterly inflation report.
0700 ETBOE announces interest rate decision and asset purchase target, expected -25 bp cut to the benchmark rate to 0.25% and the asset purchase target to remain unch at 375 billion pounds.
JPN2000 ETJapan Jun labor cash earnings expected +0.3% y/y, May -0.1%y/y. Jun real cash earnings, May +0.4% y/y.
U.S. STOCK CALENDAR08/03/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Clorox Co/TheCLXBef-mktQ4 2016 Earnings ReleaseQ4 20161.277
Dominion Resources Inc/VADBef-mktQ2 2016 Earnings ReleaseQ2 20160.708
Noble Energy IncNBLBef-mktQ2 2016 Earnings ReleaseQ2 2016-0.286
Occidental Petroleum CorpOXYBef-mktQ2 2016 Earnings ReleaseQ2 2016-0.18
Time Warner IncTWXBef-mktQ2 2016 Earnings ReleaseQ2 20161.165
Xcel Energy IncXELBef-mktQ2 2016 Earnings ReleaseQ2 20160.404
Spectra Energy CorpSEBef-mktQ2 2016 Earnings ReleaseQ2 20160.266
Zoetis IncZTSBef-mktQ2 2016 Earnings ReleaseQ2 20160.444
Delphi Automotive PLCDLPH6:45Q2 2016 Earnings ReleaseQ2 20161.556
Humana IncHUM7:30Q2 2016 Earnings ReleaseQ2 20162.283
Intercontinental Exchange IncICE7:30Q2 2016 Earnings ReleaseQ2 20163.378
American International Group IncAIG8:00Q2 2016 Earnings CallQ2 2016
Time Warner IncTWX8:30Q2 2016 Earnings CallQ2 2016
Intercontinental Exchange IncICE8:30Q2 2016 Earnings CallQ2 2016
Verisk Analytics IncVRSK8:30Q2 2016 Earnings CallQ2 2016
Zoetis IncZTS8:30Q2 2016 Earnings CallQ2 2016
FMC CorpFMC9:00Q2 2016 Earnings CallQ2 2016
Spectra Energy CorpSE9:00Q2 2016 Earnings CallQ2 2016
Delphi Automotive PLCDLPH9:00Q2 2016 Earnings CallQ2 2016
Qorvo IncQRVO9:00Annual General Meeting
Concho Resources IncCXO9:30Q2 2016 Earnings CallQ2 2016
CA IncCA10:00Annual General Meeting
Dominion Resources Inc/VAD10:00Q2 2016 Earnings CallQ2 2016
Noble Energy IncNBL10:00Q2 2016 Earnings CallQ2 2016
Occidental Petroleum CorpOXY10:00Q2 2016 Earnings CallQ2 2016
ONEOK IncOKE10:00Q2 2016 Earnings CallQ2 2016
Xcel Energy IncXEL10:00Q2 2016 Earnings CallQ2 2016
Newfield Exploration CoNFX11:00Q2 2016 Earnings CallQ2 2016
Devon Energy CorpDVN11:00Q2 2016 Earnings CallQ2 2016
Clorox Co/TheCLX13:30Q4 2016 Earnings CallQ4 2016
Twenty-First Century Fox IncFOXA16:00Q4 2016 Earnings ReleaseQ4 20160.369
Allstate Corp/TheALL16:15Q2 2016 Earnings ReleaseQ2 20160.582
Twenty-First Century Fox IncFOXA16:30Q4 2016 Earnings CallQ4 2016
Western Union Co/TheWU16:30Q2 2016 Earnings CallQ2 2016
First Solar IncFSLR16:30Q2 2016 Earnings CallQ2 2016
CenturyLink IncCTL17:00Q2 2016 Earnings CallQ2 2016
CF Industries Holdings IncCF17:00Q2 2016 Earnings ReleaseQ2 20160.664
CenturyLink IncCTLAft-mktQ2 2016 Earnings ReleaseQ2 20160.595
Lincoln National CorpLNCAft-mktQ2 2016 Earnings ReleaseQ2 20161.563
Tesoro CorpTSOAft-mktQ2 2016 Earnings ReleaseQ2 20161.764
Marathon Oil CorpMROAft-mktQ2 2016 Earnings ReleaseQ2 2016-0.245
Transocean LtdRIGAft-mktQ2 2016 Earnings ReleaseQ2 2016-0.016
Albemarle CorpALBAft-mktQ2 2016 Earnings ReleaseQ2 20161.005
Prudential Financial IncPRUAft-mktQ2 2016 Earnings ReleaseQ2 20162.498
Western Union Co/TheWUAft-mktQ2 2016 Earnings ReleaseQ2 20160.401
MetLife IncMETAft-mktQ2 2016 Earnings ReleaseQ2 20161.349
Cimarex Energy CoXECAft-mktQ2 2016 Earnings ReleaseQ2 2016-0.012
Equinix IncEQIXAft-mktQ2 2016 Earnings ReleaseQ2 20162.998
First Solar IncFSLRAft-mktQ2 2016 Earnings ReleaseQ2 20160.543
TripAdvisor IncTRIPAft-mktQ2 2016 Earnings ReleaseQ2 20160.418
American Water Works Co IncAWKAft-mktQ2 2016 Earnings ReleaseQ2 20160.73
Equinix IncEQIX17:30Q2 2016 Earnings CallQ2 2016
Costco Wholesale CorpCOST21:00July 2016 Sales and Revenue Release2016
Equifax IncEFXInvestor MeetingY 2016
Leucadia National CorpLUKQ2 2016 Earnings ReleaseQ2 20160.13

Friday, July 15, 2016

Verisk Analytics - Chart of the Day

Verisk Analytics (VRKS) is the Barchart Chart of the Day.  The business information company has a Trend Spotter buy signal, a Weighted Alpha of 18.70+ and gained 14.73% in the last year.

The Chart of the Day belongs to Verisk Analytics (VRSK).  I found the business information stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or more.  I always use the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 6/30 the stock gained 5.57%.


Verisk Analytics is a leading provider of information about risk to professionals in insurance, healthcare, financial services, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 8.55% in the last month
  • Relative Strength Index 72.56%
  • Technical support level at 84.67
  • Recently traded at 85.60 with a 50 day moving average of 79.33
Fundamental factors:
  • Market Cap $14.37 billion
  • P/E 26.72
  • Revenue expected to be down 2.80% this year but to grow again by 6.50% next year
  • Earnings estimated to increase .30% this year, an additional 11.30% next year and continue to compound at an annual rate of 12.46% for the next 5 years
  • Wall Street analysts issued 8 strong buy, 2 buy, 1 hold and 1 strong sell recommendation on the stock

Wednesday, February 24, 2016

MORNING CALL 2/24

MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 -0.90%) are down -0.81% and European stocks are down -2.34% at a 1-week low as they track crude oil prices, which are down -3.58%. Crude oil prices extended their declines late yesterday after API data showed U.S. crude supplies expanded by +7.1 million bbl last week. A sell-off in copper prices has also hurt miners and commodity producers with Glencore Plc and BHP Billiton down at least 7%, while Freeport-McMoRan and Alcoa are both down over 2%. The Chinese yuan fell to a 1-1/2 week low against the dollar ahead of the G-20 meeting in Shanghai on Feb 26-27 where people with knowledge of the agenda said officials from the world's biggest economies will discuss the recent turmoil in China's markets and ways to bolster a safety net for the global financial system. Asian stocks settled mostly lower: Japan -0.85%, Hong Kong -1.15%, China +0.88%, Taiwan -0.62%, Australia-2.10%, Singapore -1.95%, South Korea -0.05%, India -1.37%.
The dollar index (DXY00 +0.42%) is up +0.42% at a 3-week high. EUR/USD (^EURUSD) is down -0.51% at a 3-wek low. USD/JPY (^USDJPY) is down-0.25%. GBP/USD is down -0.92% at a 6-3/4 year low on concern that Britons will vote to leave the EU in a June referendum.
Mar T-note prices (ZNH16 +0.30%) are up +13 ticks at a 1-week high as the slide in stock prices boosts the safe-haven demand of government debt. T-notes also found support on carryover from a plunge in the 10-year German bund yield to a 10-month low of 0.131%.

U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +8.2% with purchase sub-index -3.7% and refi sub-index +16.0%), (2) Richmond Fed President Jeffrey Lacker's speech on the topic of “Can Monetary Policy Affect Economic Growth” at the John Hopkins Carey Business School, (3) prelim-Feb Markit services PMI (expected +0.3 to 53.5, Jan -1.1 to 53.2), (4) Jan new home sales (expected -4.4% to 520,000, Dec +10.8% to 544,000), (5) the Treasury's sale of $13 billion of 2-year floating-rate notes and $34 billion of 5-year T-notes, (6) Dallas Fed President Rob Kaplan's speech to the Harvard Clubs of Dallas and Fort Worth about current economic conditions and monetary policy, and (7) St. Louis Fed President James Bullard's speech to Money Marketeers in New York.
There are 11 of the S&P 500 companies that report earnings today with notable reports including: HP (consensus $0.36), salesforce.com (0.19), Target (1.54), TJX (0.94), L Brands (2.05), Lowe's (0.59), Chesapeake Energy (-0.16), Transocean (0.65).
U.S. IPO's scheduled to price today: Cancer Prevention Pharmaceuticals (CPP).
Equity conferences during the remainder of this week include: Jefferies Media & Communications Conference on Tue-Wed, RBC Capital Markets Health Care Conference on Tue-Wed, IHS Energy CERAWeek Conference on Tue-Thu, Wells Fargo Bank Investors Forum on Wed, Cantor Fitzgerald Internet & Technology Conference on Thu, Gabelli & Company Pump, Valve and Water Systems Symposium on Thu.






OVERNIGHT U.S. STOCK MOVERS
Avis-Budget Group (CAR +1.01%) tumbled over 12% in after-hours trading after it lowered guidance on fiscal 2016 adjusted EPS to $2.70-$3.30, below consensus of $3.43.
Ford Motor (F -1.11%) was downgraded to 'Underperform' from 'Neutral' at Credit Suisse.
DreamWorks Animation(DWA -2.09%) jumped over 7% in after-hours trading after it reported Q4 adjusted EPS of 55 cents, over three times expectations of 15 cents.
WebMD Health Corp. (WBMD -0.19%) rose almost 3% in after-hours trading after it said it sees 2016 revenue of $685 million-$8705 million, above consensus of $689.3 million.
Dycom Industries (DY -0.65%) slumped 15% in after-hours trading after it reported Q2 adjusted EPS of 54 cents, weaker than consensus of 56 cents, and hen said it sees Q3 EPS of 70 cent-80 cents, below consensus of 84 cents.
Deere & Co. (DE -1.61%) was upgraded to 'Buy' from 'Hold' at Argus Research.
Copart (CPRT -0.66%) reported Q2 EPS of 48 cents, higher than consensus of 43 cents.
Ormat Technologies (ORA -0.38%) raised guidance on fiscal 2016 revenue to $620 million-$640 million, higher than consensus of $608.7 million.
MSA Safety (MSA +0.26%) reported Q4 adjusted EPS of 84 cents, better than consensus of 68 cents,
Trexx Co. (TREX +9.75%) gained almost 2% in after-hours trading after it reported it will replace Snyder's-Lance in the SmallCap 600 after the close of trading Wednesday, February 24.
AMAG Pharmaceuticals (AMAG +1.11%) rose over 3% in after-hours trading after it reported it will replace Diamond Foods (DMND +0.97%) in the SmallCap 600 after the close of trading Monday. February 29.
Snyder's-Lance (LNCE +1.47%) climbed almost 2% in after-hours trading after it reported it will replace California Resources in the MidCap 400 at the close of trading Wednesday, February 24.
Morgan Stanley (MS -3.38%) said its energy loan exposure at the end of Q4 was $15.9 billion, down from $17.2 billion at the end of Q3.
Advisory Board Co. (ABCO -1.31%) was downgraded to 'Market Perform' from 'Market Outperform' at Avondale Partners LLC with a 12-month price target of $31.

MARKET COMMENTS
Mar E-mini S&Ps (ESH16 -0.90%) this morning are down -15.50 points (-0.81%). Tuesday's closes: S&P 500 -1.25%, Dow Jones -1.14%, Nasdaq -1.62%. The S&P 500 on Tuesday closed lower on fall in the yuan fell to a 1-week low against the dollar, the -5.6 point decline in U.S. Feb consumer confidence to 92.2 (weaker than expectations of -0.9 to 97.2 and the lowest in 7 months), and the slide in energy producer stocks after crude oil fell by more than 6%.
Mar 10-year T-notes (ZNH16 +0.30%) this morning are up +13 ticks a a 1-week high. Tuesday's closes: TYH6 +5.00, FVH6 +3.50. Mar T-notes on Tuesday closed higher on increased safe-haven demand with the sell-off in stocks and on Dallas Fed President Kaplan's comment that the Fed should be open to leaving policy on hold for an extended time if needed.
The dollar index (DXY00 +0.42%) this morning is up +0.412 (+0.42%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0056 (-0.51%) at a 3-week low. USD/JPY (^USDJPY) is down -0.28 (-0.25%). Tuesday's closes: Dollar Index +0.102 (+0.10%), EUR/USD -0.0010 (-0.09%), USD/JPY -0.82 (-0.73%). The dollar index on Tuesday closed higher on continued weakness in GBP/USD which fell to a fresh 6-3/4 year low after BOE Governor Carney acknowledged that there was a chance of Brexit. The dollar was also boosted by weakness in EUR/USD, which fell to a 2-1/2 week low on news that the German Feb IFO business climate index fell -1.6 to 14-month low of 105.7.
Apr WTI crude (CLJ16 -3.42%) this morning is down -$1.14 a barrel (-3.58%) and Apr gasoline (RBJ16 -0.80%) is down -0.0099 (-0.81%). Tuesday's closes: CLJ6 -2.02 (-6.05%), RBJ6 -0.0390 (-3.12%). Apr crude oil and gasoline on Tuesday closed sharply lower on dashed hopes for a production cut after Saudi Arabian oil minister Ali al-Naimi said that Saudi Arabia "isn't cutting output." In addition, Iranian Oil Minister Bijan Namdar Zanganeh said that Russia's and Saudi Arabia's plan to freeze production at current levels was "ridiculous" as it puts "unrealistic demands" on Iran.

GLOBAL EVENT CALENDAR02/24/2016
US0700 ETWeekly MBA mortgage applications, previous +8.2% with purchase sub-index -3.7% and refi sub-index +16.0%.
0800 ETRichmond Fed President Jeffrey Lacker speaks on the topic Can Monetary Policy Affect Economic Growth at the John Hopkins Carey Business School.
0945 ETPrelim-Feb Markit services PMI expected +0.3 to 53.5, Jan -1.1 to 53.2. Feb Markit composite PMI, Jan -0.8 to 53.2.
1000 ETJan new home sales expected -4.4% to 520,000, Dec +10.8% to 544,000.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $13 billion of 2-year floating-rate notes.
1300 ETTreasury auctions $34 billion of 5-year T-notes.
1315 ETDallas Fed President Rob Kaplan speaks to the Harvard Clubs of Dallas and Fort Worth about current economic conditions and monetary policy.
1900 ETSt. Louis Fed President James Bullard speaks to Money Marketeers in New York.
JPN0000 ETRevised Japan Dec leading index CI, previous 102.0. Revised Dec coincident index, previous 111.2.
UK0600 ETUK Feb CBI reported sales expected -4 to 12, Jan 16.

U.S. STOCK CALENDAR02/24/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Target CorpTGT USBef-mktQ4 2016 Earnings ReleaseQ4 20161.539
Lowe's Cos IncLOW USBef-mktQ4 2016 Earnings ReleaseQ4 20160.592
AES Corp/VAAES USBef-mktQ4 2015 Earnings ReleaseQ4 20150.326
Chesapeake Energy CorpCHK USBef-mktQ4 2015 Earnings ReleaseQ4 2015-0.162
Verisk Analytics IncVRSK US8:30Q4 2015 Earnings CallQ4 2015
Lowe's Cos IncLOW US9:00Q4 2016 Earnings CallC4 2016
Lowe's Cos IncLOW US9:00Q4 2016 Earnings CallQ4 2016
AES Corp/VAAES US9:00Q4 2015 Earnings CallQ4 2015
Chesapeake Energy CorpCHK US9:00Q4 2015 Earnings CallQ4 2015
TJX Cos Inc/TheTJX US9:30Q4 2016 Earnings ReleaseQ4 20160.94
Air Products & Chemicals IncAPD US10:00Air Products of Versum Materials Spin-off Call
Deere & CoDE US10:00Annual General MeetingY 2016
Keurig Green Mountain IncGMCR US10:00Special Meeting - M&A Vote
Target CorpTGT US10:30Q4 2016 Earnings CallQ4 2016
TJX Cos Inc/TheTJX US11:00Q4 2016 Earnings CallQ4 2016
State Street CorpSTT US12:30Investor DayY 2016
Extra Space Storage IncEXR US13:00Q4 2015 Earnings CallQ4 2015
salesforce.com incCRM US16:05Q4 2016 Earnings ReleaseQ4 20160.191
HP IncHPQ US17:00Q1 2016 Earnings CallQ1 2016
NVIDIA CorpNVDA US17:00ITC Decision Due in 2nd Samsung vs. Nvidia Patent Case
salesforce.com incCRM US17:00Q4 2016 Earnings CallQ4 2016
HP IncHPQ USAft-mktQ1 2016 Earnings ReleaseQ1 20160.36
L Brands IncLB USAft-mktQ4 2016 Earnings ReleaseQ4 20162.051
Transocean LtdRIG USAft-mktQ4 2015 Earnings ReleaseQ4 20150.652
Newfield Exploration CoNFX USAft-mktQ4 2015 Earnings ReleaseQ4 20150.019
Concho Resources IncCXO USAft-mktQ4 2015 Earnings ReleaseQ4 20150.031

Tuesday, December 1, 2015

MORNING CALL 12/1

MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.35%) are up +0.40% and European stocks are up +0.11% after Eurozone unemployment unexpectedly fell to a nearly 4 year low. A rally in British bank stocks is also lending support to the overall market after all seven major British lenders passed BOE stress tests. Asian stocks settled higher: Japan +1.34%, Hong Kong +1.75%, China +0.32%, Taiwan +1.71%, Australia +1.93%, Singapore +0.50%, South Korea +1.83%, India +0.09%. Japan's Nikkei Stock Index rallied up to a 3-1/4 month high after Japan Q3 capital spending rose by the most in over 8 years. China's Shanghai Composite had opened lower after a gauge of Chinese manufacturing activity contracted by the most in over 3 years, but Chinese stocks erased their losses and closed higher as property stocks rallied on speculation the PBOC will loosen monetary policy further.
The dollar index (DXY00 -0.17%) is down 0.16%. EUR/USD (^EURUSD) is up +0.29%. USD/JPY (^USDJPY) is up +0.01%.
Mar T-note prices (ZNH16 -0.12%) are down -5.5 ticks.
The Eurozone Oct unemployment rate unexpectedly fell -0.1 to 10.7%, better than expectations of no change at 10.8% and the lowest in nearly 4 years.
The China Nov manufacturing PMI unexpectedly fell -0.2 to 49.6, weaker than expectations of no change at 49.8 and the steepest pace of contraction in 3-1/4 years. The Nov non-manufacturing PMI rose +0.5 to 53.6.
Japan Q3 capital spending rose +11.2% y/y, stronger than expectations of +2.2% y/y, and Q3 capital spending ex-software also rose +11.2% y/y, stronger than expectations of +1.7% y/y. Both increases were the largest since Q1 of 2007.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) final-Nov Markit manufacturing PMI (expected unrevised at 52.6, prelim-Nov -1.5 to 52.6), (2) Oct construction spending (expected +0.6%, Sep +0.6% m/m), (3) Nov ISM manufacturing index (expected +0.4 to 50.5, Oct -0.1 to 50.1), (4) a discussion by Chicago Fed President Charles Evans on the economic outlook and monetary policy at a Lansing Regional Chamber of Commerce Economic Club Luncheon, (5) Fed Governor Lael Brainard's speechs on the ”Lower Neutral Rate and its Implications for Monetary Policy” at the Stanford Institute for Economic Policy Research Associates Meeting, and (6) Nov total vehicle sales (expected 18.10 million, Oct 18.12 million).
There are 9 of the Russell 3000 companies report earnings today with notable reports including Guidewire Software (0.03), Ascena Retail (0.29), KLX (0.14), Weis Markets, Bob Evans Farms ($0.39),
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: Citi Chemicals Conference on Tue, Credit Suisse Technology Conference on Tue, Citi Basic Materials Conference on Tue-Wed, Cowen and Company Ultimate Energy Conference on Tue-Wed, Piper Jaffray Health Care Conference on Tue-Wed, Credit Suisse Global Industrials Conference on Tue-Thu, Credit Suisse Technology, Media & Telecom Conference on Tue-Thu, Citi Global Financial Conference on Wed, J.P. Morgan Fintech & Specialty Finance Forum on Wed, Wells Fargo Connected Commerce Investor Summit on Wed, NASDAQ OMX Group, Inc. Investor Program on Wed-Thu, ASEAN Business Summit on Wed-Thu, Bank of America Merrill Lynch Leveraged Finance Conference on Thu.








OVERNIGHT U.S. STOCK MOVERS
Mattress Firm Holding (MFRM -2.95%) jumped over 9% in after-hours trading after the company said it will buy Sleepy's for $780 million.
Infoblox (BLOX +0.40%) surged over 15% in after-hours trading after it reported Q1 adjusted EPS of 13 cents, more than double consensus of 6 cents, and then raised guidance on Q2 adjusted EPS to 12 cents-14 cents, higher than consensus of 7 cents.
Joy Global (JOY +1.93%) was downgraded to 'Underperform' from 'Neutral' at Bank of America.
Yum! Brands (YUM -0.62%) was raised to 'Outperform' from 'Market perform' at Cowen.
Allstate (ALL -0.13%) was upgraded to 'Neutral' from 'Sell' at Citigroup.
ITC Holdings (ITC +9.27%) confirmed that it has begun a strategic review that may lead to a possible sale of the company as it works to "maximize value for shareholders."
Shoe Carnival (SCVL -2.79%) reported Q3 EPS of 47 cents, right on consensus, although Q3 revenue of $269.7 million was higher than consensus of $264.4 million.
Thor Industries (THO +0.73%) climbed nearly 4% in after-hours trading after it reported Q1 EPS continuing operations of 97 cents, higher than consensus of 83 cents.
UnitedHealth (UNH -1.43%) lowered guidance on fiscal 2016 revenue to $180 billion-$181 billion, below consensus of $182.5 billion, but still affirmed its fiscal 2016 EPS view of $7.10-$7.30, near the middle of consensus of $7.19.
Andarko Petroleum (APC -1.33%) was ordered to pay $159.5 million to resolve its liability for the 2010 Gulf of Mexico oil spill.
NQ Mobile (NQ +6.05%) sank 10% in after-hours trading after it reported Q3 net revenue of $87.9 million, below consensus of $110 million-$112 million.
The Chemours Company (CC -1.42%) said its plans to reduce its global workforce in 2016 by 400, or 5%.
Zumiez (ZUMZ -9.10%) was downgraded to 'Market Perform' from 'Outperform' at William Blair & Co.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.35%) this morning are up +8.25 points (+0.40%). Monday's closes: S&P 500 -0.46%, Dow Jones -0.44%, Nasdaq -0.34%. The S&P 500 on Monday closed lower on the -7.5 point decline in the Chicago Nov PMI, a bigger decline than expectations of -2.2 to 54.0, and on the +0.2% m/m y/y increase in the U.S. Oct pending home sales, weaker than expectations of +1.0% m/m. There was also weakness in retail and consumer companies on reports of lower Black Friday weekend consumer traffic at brick-and-mortar stores.
Mar 10-year T-notes (ZNH16 -0.12%) this morning are down -5.5 ticks. Monday's closes: TYH6 -2.00, FVH6 -1.50. Mar T-notes on Monday closed lower on the outlook for the FOMC to raise interest rates when it meets in just over two weeks. Supportive factors included the weaker-than-expected Chicago Nov PMI and U.S. Oct pending home sales reports and increased safe-haven demand with the sell-off in stocks.
The dollar index (DXY00 -0.17%) this morning is down -0.160 (-0.16%). EUR/USD (^EURUSD) is up +0.0031 (+0.29%). USD/JPY (^USDJPY) is up +0.01 (+0.01%). Monday's closes: Dollar Index +0.150 (+0.15%), EUR/USD -0.0028 (-0.26%), USD/JPY +0.31 (+0.25%). The dollar index on Monday climbed to a new 8-1/2 month high and closed higher on weakness in EUR/USD, which fell to a 7-1/2 month low on expectations for the ECB on Thursday to cut the bank deposit rate by 10 bp to -0.30% and to expand its QE program. Meanwhile, USD/JPY rallied to a 1-week high on the smaller-than-expected increase in Japan Oct industrial production report.
Jan crude oil (CLF16 +0.07%) this morning is up +19 cents (+0.46%) and Jan gasoline (RBF16 +3.48%) is up +0.0523 (+4.00%). Monday's closes: CLF6 -0.06 (-0.14%), RBF6 -0.0217 (-1.62%). Jan crude oil and gasoline prices on Monday erased an early rally and closed lower on the rally in the dollar index to an 8-1/2 month high and comments by Iranian Oil Minister Zanganeh who said that he expects no change to OPEC's production target when the cartel meets on Friday.
GLOBAL EVENT CALENDAR12/01/2015
US0945 ETFinal-Nov Markit manufacturing PMI expected unrevised at 52.6, prelim-Nov -1.5 to 52.6.
1000 ETOct construction spending expected +0.6%, Sep +0.6% m/m.
1000 ETNov ISM manufacturing index expected +0.4 to 50.5, Oct -0.1 to 50.1. Nov ISM new orders, Oct +2.8 to 52.9. Nov ISM employment, Oct-2.9 to 47.6. Nov ISM prices paid expected +1.0 to 40.0, Oct +1.0 to 39.0.
1245 ETChicago Fed President Charles Evans discusses the economic outlook and monetary policy at a Lansing Regional Chamber of Commerce Economic Club Luncheon.
2000 ETFed Governor Lael Brainard speaks on the Lower Neutral Rate and its Implications for Monetary Policy at the Stanford Institute for Economic Policy Research Associates Meeting.
n/aNov total vehicle sales expected 18.10 million, Oct 18.12 million. Nov domestic vehicle sales expected 14.25 million units, Oct 14.14 million.
JPN0000 ETJapan Nov vehicle sales, Oct +0.2% y/y.
GER0355 ETGerman Nov unemployment change expected -5,000, Oct -5,000. Nov unemployment rate expected unch at 6.4%.
0355 ETRevised German Nov Markit/BME manufacturing PMI, preliminary +0.5 to 52.6.
EUR0400 ETRevised Eurozone Nov Markit manufacturing PMI, preliminary +0.5 to 52.8.
0500 ETEurozone Oct unemployment rate expected unch at 10.8%.
UK0430 ETUK Nov Markit manufacturing PMI expected -1.9 to 53.6, Oct 55.5.
U.S. STOCK CALENDAR12/01/2015

CompanyTickerTimeEvent DescriptionPeriodEstimate
Johnson Controls IncJCI US8:00Analyst Day - Strategic ReviewY 2015
UnitedHealth Group IncUNH US8:00Q4 2016 Guidance CallQ4 2016
AramarkARMK US8:00Investor MeetingY 2015
Verisk Analytics IncVRSK US8:30Investor DayY 2015
WEX IncWEX US9:00Investor MeetingY 2015
Ford Motor CoF US9:15November 2015 Sales and Revenue Release2015
Ford Motor CoF US10:00November 2015 Sales and Revenue Call2015
Garmin LtdGRMN US17:00ITC to Announce Final Decision in Navico Inc. vs. Garmin Ltd. Patent Case

Thursday, October 1, 2015

BARCHART MORNING CALL 10/1


OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 +0.29%) are up +0.65% and European stocks are up +0.59% at a 1-week high on signs of stabilization in Chinese manufacturing activity that pushed up the price of oil (CLX15 +2.24%) by +2.42% and fueled a rally in energy and basic-resource companies. Copper prices (HGZ15 +0.26%) also climbed +0.56% to a 1-week high, which gave miners a lift with Anglo American Plc and BHP Billiton both up nearly 3%. Asian stocks settled higher: Japan +1.92%, Hong Kong and China closed for holiday, Taiwan +1.40%, Australia +1.80%, Singapore +0.39%, South Korea +0.81%, India +0.25%. An unexpected increase in the China Sep manufacturing PMI bolstered confidence in China's economic outlook and gave global stocks a lift, while a bigger than expected decline in Japan Q3 Tankan large manufacturing business conditions undercut the yen and gave Japanese stocks a lift on speculation that the BOJ may need to expand stimulus.
The dollar index (DXY00 -0.04%) is up +0.03%. EUR/USD (^EURUSD) is down -0.27%. USD/JPY (^USDJPY) is up +0.08%.
Dec T-note prices (ZNZ15 +0.01%) are down -2 ticks.
The China Sep manufacturing PMI unexpectedly rose +0.1 to 49.8, better than expectations of no change at 49.7. The Sep non-manufacturing PMI remained unch at 53.4.
The Japan Q3 Tankan large manufacturing business conditions fell -3 from last quarter to 12, a bigger decline than expectations of -2 to 13.

U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Sep Challenger job cuts (Aug +2.9% y/y), (2) weekly initial unemployment claims (expected +4,000 to 271,000, previous +3,000 to 267,000) and continuing claims (expected -12,000 to 2.230 million, previous -1,000 to 2.242 million), (3) final-Sep Markit manufacturing PMI (expected unch at 53.0, prelim-Sep unch at 53.0), (4) Aug construction spending (expected +0.5%, Jul +0.7% m/m), (5) Sep ISM manufacturing index (expected -0.5 to 50.6, Aug -1.6 to 51.1), (6) San Francisco Fed President John Williams' speech on the economic outlook to Salt Lake Area Community Leaders, and (7) Sep total vehicle sales (expected 17.60 million, Aug 17.72 million).
There are 2 of the Russell 2000 companies that report earnings today: McCormick & Co (consensus $0.87), Micron Technology (0.87).
U.S. IPO's scheduled to price today include: Novocure (NVCR), Civitas Solutions (CIVI).
Equity conferences during the remainder of this week include: Leerink Partners Rare Disease Roundtable Conference on Thu.




OVERNIGHT U.S. STOCK MOVERS
SanDisk (SNDK +10.67%) was raised to 'Overweight' from 'Equalweight' at Morgan Stanley with a price target of $75.
McCormick (MKC +1.22%) reported Q3 EPS of 85 cents, below consensus of 87 cents.
Microsoft (MSFT +1.89%) was raised to 'Neutral' from 'Underperform' at Bank of America.
Universal Health Services (UHS +3.01%) was raised to 'Overweight' from 'Sector Weight' at Keybanc Capital Markets with a $145 price target.
Celgene (CELG +2.69%) was raised to 'Overweight' from 'Neutral' at JPMorgan Chase with a $152 price target.
Bristol-Meyers Squiibb (BMY +0.42%) received approval from the U.S. FDA for its Opdivo, Yervoy regiment usedto treat metastatic melanoma.
Schnitzer (SCHN +0.74%) raised guidance on Q4 adjusted continuing operation EPS to 27 cents-30 cents, above consensus of 24 cents.
Verisk Analytics (VRSK +2.30%) rose nearly 5% in after-hours trading after it was announced the company will replace Joy Global in the S&P 500 as of the close of trading on Oct 7.
Joy Global (JOY +0.95%) fell over 2% in after-hours trading after it was announced the company will be replaced in the S&P 500 by Verisk Analytics.
PBF Energy (PBF +2.21%) climbed over 4% in after-hours trading after the company said it bought the 155,000 barrel-per-day Torrance, CA, refinery from Exxon Mobil for $537.5 million plus working capital to be valued at closing.
Concho Resources (CXO +1.76%) fell 4% in after-hours trading after it announced an offering of 7 million shares of common stock.
Northrop Grumman (NOC +1.47%) won a U.S. Air Force contract worth up to $3.2 billion to build and service the Global Hawk drone.

MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 +0.29%) this morning are up +12.50 points (+0.65%). Wednesday's closes: S&P 500 +1.91%, Dow Jones +1.47%, Nasdaq +2.39%. The S&P 500 on Wednesday closed sharply higher on the +200,000 increase in the Sep ADP employment change, stronger than expectations of +190,000. There was also bargain hunting in raw-material producers and health-care stocks that have been beaten down recently. The main bearish factor for stocks was the -5.7 point decline in the Sep Chicago PMI to a 4-month low of 48.7.

Dec 10-year T-notes (ZNZ15 +0.01%) this morning are down -2 ticks. Wednesday's closes: TYZ5 -2.50, FVZ5 -1.00. Dec T-note prices on Wednesday closed lower on the the sharp rally in stocks, which curbed safe-haven demand for Treasuries, and on the stronger-than-expected Sep ADP employment report of +200,000. T-notes found underlying support from the decline in the Sep Chicago PMI to a 4-month low.
The dollar index (DXY00 -0.04%) this morning is up +0.030 (+0.03%). EUR/USD (^EURUSD) is own -0.0030 (-0.27%). USD/JPY (^USDJPY) is up +0.10 (+0.08%). Wednesday's closes: Dollar Index +0.495 (+0.52%), EUR/USD -0.0072 (-0.64%), USD/JPY +0.14 (+0.12%). The dollar index on Wednesday closed higher on the larger-than-expected increase in Sep ADP employment report, which bolsters the case for a Fed interest rate increase this year. There was also weakness in EUR/USD on speculation the ECB may expand stimulus measures to fight deflation after Eurozone Sep CPI unexpectedly fell-0.1% y/y, weaker than expectations of unch y/y and the first decline in 6 months.
Nov crude oil (CLX15 +2.24%) this morning is up +$1.09 a barrel (+2.42%) and Nov gasoline (RBX15 +3.06%) is up +0.0419 (+3.07%). Wednesday's closes: CLX5 -0.14 (-0.31%), RBX5 -0.0170 (+1.26%). Nov crude oil and gasoline Wednesday settled mixed. Crude oil and gasoline were undercut by the unexpected +3.955 million bbl increase in EIA crude inventories (vs expectations of -500,000 bbl) and the unexpected +3.254 million bbl jump in EIA gasoline inventories (vs expectations of -500,000 bbl). Supportive factors included the -0.4% decline in U.S. crude production in the week ended Sep 25 to a 9-3/4 month low of 9.1 million bpd and the -1.068 million bbl decline in crude inventories at Cushing to a 6-1/2 month low.

GLOBAL EVENT CALENDAR10/01/2015
US0730 ETSep Challenger job cuts, Aug +2.9% y/y.
0830 ETWeekly initial unemployment claims expected +4,000 to 271,000, previous +3,000 to 267,000. Weekly continuing claims expected -12,000 to 2.230 million, previous -1,000 to 2.242 million.
0830 ETUSDA weekly Export Sales.
0945 ETFinal-Sep Markit manufacturing PMI expected unch at 53.0, prelim-Sep unch at 53.0.
1000 ETAug construction spending expected +0.5%, Jul +0.7% m/m.
1000 ETSep ISM manufacturing index expected -0.5 to 50.6, Aug -1.6 to 51.1. Sep ISM new orders sub-index, Aug -4.8 to 51.7. Sep ISM employment sub-index, Aug -1.5 to 51.2. Sep ISM prices paid sub-index expected +1.0 to 40.0, Aug -5.0 to 39.0.
1100 ETTreasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $21 billion) and 30-year T-bonds (previous $13 billion) to be auctioned Oct 6-8.
1430 ETSan Francisco Fed President John Williams speaks on the economic outlook to Salt Lake Area Community Leaders.
n/aSep total vehicle sales expected 17.60 million, Aug 17.72 million. Sep domestic vehicle sales expected 13.80 million, Aug 13.80 million.
JPN0100 ETJapan Sep vehicle sales, Aug +2.3% y/y.
1930 ETJapan Aug jobless rate expected unch at 3.3%. Aug job-to-applicant ratio expected unch at 1.21.
1930 ETJapan Aug overall household spending expected +0.3% y/y, Jul -0.2% y/y.
GER0355 ETRevised German Sep Markit/BME manufacturing PMI, previous -0.8 to 52.5.
EUR0400 ETRevised Eurozone Sep Markit manufacturing PMI, previous -0.3 to 52.0.
0930 ETECB President Mario Draghi speaks at the Atlantic Council Global Citizens Award ceremony in Washington, D.C.
UK0430 ETUK Sep Markit manufacturing PMI expected -0.2 to 51.3, Aug 51.5.

U.S. STOCK CALENDAR10/01/2015

CompanyTickerTimeEvent DescriptionPeriodEstimate
McCormick & Co Inc/MDMKC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.866
McCormick & Co Inc/MDMKC US8:00Q3 2015 Earnings CallQ3 2015
Clorox Co/TheCLX US9:00Analyst DayY 2015
Dunkin' Brands Group IncDNKN US9:00Investor & Analyst DayY 2015
Ford Motor CoF US9:15September 2015 Sales and Revenue Release2015
Ford Motor CoF US10:00September 2015 Sales and Revenue Call2015
Home Properties IncHME US10:00Extraordinary Shareholders Meeting - M&A VoteY 2015
General Motors CoGM US10:00Business Update Call
Macerich Co/TheMAC US11:00Investor MeetingY 2015
Micron Technology IncMU US16:30Q4 2015 Earnings CallQ4 2015
Micron Technology IncMU USAft-mktQ4 2015 Earnings ReleaseQ4 20150.335
Rite Aid CorpRAD USSeptember 2015 Sales and Revenue Release
John Wiley & Sons IncJW/A USAnnual General Meeting
Ameren CorpAEE USInvestor Meeting - BostonY 2015