MORNING CALL 2/3

Barchart Morning Call

Barchart.com - Fri Feb 3, 6:35AM CST

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 +0.16%) are up +0.15% and European stocks are up +0.63% ahead of this morning's U.S. payroll report that may provide clues as to the timing of the next Fed rate hike. Mar WTI crude oil (CLH17 +0.19%) is up +0.50% and is giving energy producing stocks a lift after President Trump tweeted this morning that Iran was "playing with fire" following its ballistic missile test this week. European stocks also found support after the Eurozone Jan Markit composite PMI was revised upward to its fastest pace in 3 years. Gains in stocks were contained as mining companies weakened as Mar COMEX copper prices (HGH17 -1.06%) fell -0.89% after a gauge of Chinese manufacturing activity weakened more than expected last month, and after Chinese copper supplies rose after weekly Shanghai copper inventories climbed +10,928 MT to 223,853 MT, an 8-1/2 month high. Asian stocks settled mixed: Japan +0.02%, Hong Kong -0.24%, China -0.60%, Taiwan +0.28%, Australia -0.42%, Singapore -0.07%, South Korea +0.13%, India +0.05%.

The dollar index (DXY00 +0.28%) is up +0.33%. EUR/USD (^EURUSD) is down -0.26% after ECB Executive Board member Praet said "the firming recovery is not yet sufficiently robust to ensure a self-sustained convergence of inflation rates to levels closer to 2%." USD/JPY (^USDJPY) is up +0.33%.

Mar 10-year T-note prices (ZNH17 -0.11%) are down -5.5 ticks.

ECB Executive Board member Praet said that "the firming recovery is not yet sufficiently robust to ensure a self-sustained convergence of inflation rates to levels closer to 2% as underlying inflation dynamics remain subdued, and risks and uncertainties still prevail, especially those related to the geopolitical environment."

The Eurozone Jan Markit composite PMI was revised upward to 54.4 from the originally reported 54.3, the fastest pace of expansion since the data series began in 2014.

The China Jan Caixin (flash) manufacturing PMI fell -0.9 to 51.0, weaker than expectations of -0.1 to 51.8.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jan non-farm payrolls (expected +175,000, Dec +156,000) and Jan unemployment rate (expected unch at 4.7%, Dec +0.1 to 4.7%), (2) Chicago Fed President Charles Evans (voter) speaks on economic conditions and monetary policy at a Prairie State College Economic Breakfast in Olympia Fields, IL, (3) revised Jan Markit services PMI (prelim-Jan +1.2 to 55.1), (4) Jan ISM non-manufacturing PMI (expected +0.4 to 57.0, Dec +0.4 to 56.6), (5) Dec factory orders expected +0.7%, Nov -2.4% and +0.1% ex-transportation.

Notable S&P 500 earnings reports today include: Weyerhaeuser (consensus $0.16), AutoNation (0.96), LyondellBasell (2.17), Clorox (1.22), Hershey (1.08), Phillips (0.40).

U.S. IPO's scheduled to price today: none.

Equity conferences: none.

OVERNIGHT U.S. STOCK MOVERS

Visa (V -0.17%) rose 3% in after-hours trading after it reported Q1 operating revenue of $4.5 billion, above consensus of $4.3 billion, and then was initiated with an 'Outperform' at RBC Capital Markets with a 12-month target price of $97.

Amazon.com (AMZN +0.91%) fell 4% in after-hours trading after it reported Q4 net sales of $43.7 billion, below consensus of $44.7 billion, and said it sees Q1 net sales of $33.3 billion-$35.8 billion, less than consensus of $36.0 billion.

Esterline Technologies (ESL +0.70%) rallied over 4% in after-hours trading after it reported Q1 adjusted EPS continuing operations of 82 cents, well above consensus of 46 cents.

Tableau Software (DATA -0.52%) surged 13% in after-hours trading after it reported Q4 revenue of $250.7 million, well above consensus of $230.2 million.

Amgen (AMGN -0.06%) rose nearly 3% in after-hours trading after it reported that a Phase 3 trial of its Repatha showed significantly reduced risk of cardiovascular events in patients with atherosclerotic cardiovascular disease.

Computer Sciences (CSC +1.12%) gained 2% in after-hours trading after it reported Q3 adjusted EPS continuing operations of 81 cents, higher than consensus of 70 cents.

Fortinet (FTNT +0.24%) climbed 10% in after-hours trading after it forecast full-year EPS of 87 cents-89 cents, better than consensus of 80 cents.

Cypress Semiconductor (CY -1.58%) rallied 5% in after-hours trading after it reported Q4 adjusted revenue of $530.2 million, higher than consensus of $525.6 million.

athenahealth (ATHN +1.41%) tumbled 7% in after-hours trading after it reported Q4 revenue of $288.2 million, below consensus of $303.7 million.

Hanesbrands (HBI -2.24%) sank over 10% in after-hours trading after it said it sees 2017 adjusted EPS of $1.93-$2.03, below consensus of $2.14.

GoPro (GPRO +3.78%) tumbled 13% in after-hours trading after it said it sees Q1 revenue of $190 million=-$210 million, well below consensus of $267.6 million.

Paylocity Holding (PCTY -1.32%) jumped 8% in after-hours trading after it said it sees fiscal 2017 adjusted EPS of 41 cents-43 cents, stronger than consensus of 38 cents.

Deckers Outdoor (DECK -2.30%) plunged over 20% in after-hours trading after it reported Q3 adjusted EPS of $4.11, below consensus of $4.22, and then cut its 2017 adjusted EPS forecast to $3.45-$3.55 from a prior view of $4.05-$4.25.

Neos Therapeutics (NEOS unch) slumped 14% in after-hours trading after it announced an offering of common stock, although no size was given.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 +0.16%) this morning are up +3.50 points (+0.15%). Thursday's closes: S&P 500 +0.06%, Dow Jones -0.03%, Nasdaq -0.10%. The S&P 500 on Thursday closed slightly higher on the -14,000 decline in U.S. weekly jobless claims (a bigger decline than expectations of -9,000) and the +1.3% increase in U.S. Q4 non-farm productivity (better than expectations of +1.0%). Stocks were undercut by uncertainty regarding the Trump administration’s fiscal and trade policies and by position squaring ahead of Friday's monthly U.S. payrolls report.

Mar 10-year T-notes (ZNH17 -0.11%) this morning are down -5.5 ticks. Thursday's closes: TYH7 +1.50, FVH7 +1.00. Mar 10-year T-notes on Thursday rallied to a 1-week high and closed higher on positive carry-over from Wednesday's post-FOMC meeting statement where policy makers gave no signal as to the timing of another interest rate hike.

The dollar index (DXY00 +0.28%) this morning is up +0.33 (+0.33%). EUR/USD (^EURUSD) is down -0.0028 (-0.26%). USD/JPY (^USDJPY) is up +0.37 (+0.33%). Thursday's closes: Dollar index +0.149 (+0.15%), EUR/USD -0.0010 (-0.09%), USD/JPY -0.45 (-0.40%). The dollar index on Thursday recovered from a 2-1/2 month low and closed higher on the larger-than-expected decline in U.S. weekly initial unemployment claims, a sign of labor market strength, and the larger-than-expected increase in U.S. Q4 non-farm productivity. The dollar index posted an early 2-1/2 month low on negative carry-over from Wednesday's FOMC meeting where policy makers failed to signal the timing of the next Fed interest rate increase.

Mar WTI crude oil prices (CLH17 +0.19%) this morning are up +27 cents (+0.50%) and Mar gasoline (RBH17 -0.11%) is +0.0063 (+0.41%). Thursday's closes: Mar crude -0.34 (-0.63%), Mar gasoline -0.0462 (-2.93%). Mar crude oil and gasoline on Thursday closed lower on concern that ramped-up oil production in Libya and Nigeria may offset cuts in crude production from other OPEC members as Libya's crude output rose to 690,000 bpd, a 2-year high, and Nigerian Jan crude production rose to 1.64 million bpd, up +9.3% m/m. In addition, the slide in the crack spread to a 2-1/4 month low, which may curb refinery demand for crude.

GLOBAL EVENT CALENDAR02/03/2017

		Friday, Feb 3
US	0830 ET	Jan non-farm payrolls expected +175,000, Dec +156,000. Jan private payrolls expected +170,000, Dec +144,000. Jan manufacturing payrolls expected +5,000, Dec +17,000. Jan unemployment rate expected unch at 4.7%, Dec +0.1 to 4.7%.
	0830 ET	Jan avg hourly earnings expected +0.3% m/m and +2.8% y/y, Dec +0.4% m/m and +2.9% y/y. Jan avg weekly hours all-employees expected unch at 34.3 hours, Dec unch at 34.3 hours.
	0915 ET	Chicago Fed President Charles Evans (voter) speaks on economic conditions and monetary policy at a Prairie State College Economic Breakfast in Olympia Fields, IL.
	0945 ET	Revised Jan Markit services PMI, prelim-Jan +1.2 to 55.1.
	1000 ET	Jan ISM non-manufacturing PMI expected +0.4 to 57.0, Dec +0.4 to 56.6.
	1000 ET	Dec factory orders expected +0.7%, Nov -2.4% and +0.1% ex-transportation.
		Monday, Feb 6
US	1100 ET	USDA weekly grain export inspections.
	1500 ET	Philadelphia Fed President Patrick Harker (voter) speaks at a payment conference in San Diego.

U.S. STOCK CALENDAR02/03/2017

Company	Ticker	Time	Event Description	Period	Estimate
Weyerhaeuser Co	WY US	Bf-mkt	Q4 2016 Earnings Release	Q4 2016	0.162
AutoNation Inc	AN US	Bf-mkt	Q4 2016 Earnings Release	Q4 2016	0.963
LyondellBasell Industries NV	LYB US	Bf-mkt	Q4 2016 Earnings Release	Q4 2016	2.152
Clorox Co/The	CLX US	6:30	Q2 2017 Earnings Release	Q2 2017	1.219
Hershey Co/The	HSY US	7:00	Q4 2016 Earnings Release	Q4 2016	1.078
Phillips 66	PSX US	7:00	Q4 2016 Earnings Release	Q4 2016	0.396
Hershey Co/The	HSY US	8:30	Q4 2016 Earnings Call	Q4 2016
Hartford Financial Services	HIG US	9:00	Q4 2016 Earnings Call	Q4 2016
Kimco Realty Corp	KIM US	10:00	Q4 2016 Earnings Call	Q4 2016
Weyerhaeuser Co	WY US	10:00	Q4 2016 Earnings Call	Q4 2016
AutoNation Inc	AN US	10:00	Q4 2016 Earnings Call	Q4 2016
LyondellBasell Industries NV	LYB US	11:00	Q4 2016 Earnings Call	Q4 2016
Phillips 66	PSX US	12:00	Q4 2016 Earnings Call	Q4 2016
Apartment Investment & Mang	AIV US	13:00	Q4 2016 Earnings Call	Q4 2016
Clorox Co/The	CLX US	13:30	Q2 2017 Earnings Call	Q2 2017
Essex Property Trust Inc	ESS US	14:00	Q4 2016 Earnings Call	Q4 2016

MORNING CALL 8/7

MORNING CALL

Monday, August 8th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Sep E-mini S&Ps (ESU16 +0.17%) are up +0.18% at a fresh all-time nearest-futures high and European stocks are up +0.66% on positive carryover from last Friday's stronger-than-expected U.S. Jul non-farm payrolls. European stocks rose and commodity prices also gained after German Jun industrial production rose more than expected at the fastest pace in 5 months. Asian stocks settled higher: Japan +2.44%, Hong Kong +1.57%, China +0.93%, Taiwan 0.64%, Australia +0.74%, Singapore +1.51%, South Korea +0.69%, India +0.37%. Chinese stocks gained after weaker than expected China Jul exports and imports bolstered speculation the government may boost stimulus measures, and Japanese stocks were led higher by a rally in exporters as USD/JPY rose.

The dollar index (DXY00 +0.17%) is up +0.14%. EUR/USD (^EURUSD) is down -0.02%. USD/JPY (^USDJPY) is up +0.49%.

Sep T-note prices (ZNU16 -0.06%) are down -1 tick, but recovered nearly all of their losses from a 1-week low after Fed Governor Powell said he sees a "very gradual" path for interest rate increases.

Eurozone Aug Sentix investor confidence rose +2.5 to 4.2, stronger than expectations of +1.3 to 3.0.

German Jun industrial production rose +0.8% m/m, was stronger than expectations of +0.7% m/m and the largest increase in 5 months.

The China Jul trade balance unexpectedly widened to a surplus of +$52.31 billion, bigger than expectations of +$47.30 billion and the most in 6 months. Jul exports fell -4.4% y/y, weaker than expectations of -3.5% y/y and Jul imports fell -12.5% y/y, weaker than expectations of -7.0% y/y and the biggest decline in 5 months.

Fed Governor Powell said he sees an increasing risk that the U.S. is trapped in a prolonged period of subdued growth that requires a "very gradual" path for interest rate increases.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) USDA weekly grain export inspections, and (2) USDA Weekly Crop Progress.

There are 7 of the S&P 500 companies that report earnings today: Tyson Foods (consensus $1.06), Allergan (3.31), Intl Flavors and Fragrances (1.40), DaVita HealthCare Partners (0.98), Endo Intl (0.74), Microchip Technology (0.75), News Corp (0.13).

U.S. IPO's scheduled to price today: none.

Equity conferences this week: Cowen and Company Communications Infrastructure Summit on Mon-Tue, Pacific Crest Global Technology Leadership Forum on Mon-Tue, UBS Financial Services Conference on Tue, J.P. Morgan Auto Conference on Tue-Wed, Oppenheimer Technology, Internet & Communications Conference on Tue-Wed, Jefferies Industrials Conference on Tue-Thu, Canaccord Genuity Growth Conference on Wed-Thu, Jefferies Financial Services Conference on Wed-Thu, Goldman Sachs Power, Utilities, MLP, and Pipeline Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

U.S. Concrete (USCR -4.15%) was rated a new 'Buy' at Suntrust Robinson with a price target of $75.

EOG Resources (EOG +7.03%) was upgraded to 'Buy' from 'Hold' at Wunderlich Securities.

Wyerhaeuser (WY +0.70%) was downgraded to 'Neutral' from 'Buy' at DA Davidson.

Level 3 Communications (LVLT +0.59%) was rated a new 'Buy' at BTIG with a price target of $63.

JP Morgan Chase (JPM +2.70%) is down -0.5% in pre-market trading after it was downgraded to 'Neutral' from 'Buy' at Citigroup.

Mattress Firm Holding (MFRM +1.47%) surged 100% in pre-market trading after Steinhoff International Holdings NV bought the company for $2.4 billion.

Delta Air Lines (DAL +3.09%) fell nearly 2% in pre-market trading after a computer-system failure grounded all of the carrier's flights across the U.S.

U.S. Steel (X +1.92%) gained over 1% in after-hours trading after the U.S. International Trade Commission (ITC) said that U.S. Steel can proceed with its case that charges Chinese manufacturers of carbon and alloy steel of misappropriating U.S. Steel trade secrets that a U.S. judge had put on hold July 6.

Berkshire Hathaway ({=BRK/B=}) lost almost 1% in after-hours trading after it reported Q2 operating EPS of $2,803, below consensus of $2,911.

Rackspace Holdings (RAX +10.24%) rose nearly 3% in after-hours trading, adding to last Friday's +10% surge, on reports that Apollo Global Management LLC is reportedly offering $3.5 billion for the company.

Lantheus Holdings (LNTH +54.24%) dropped almost 3% in after-hours trading after the company registered 17.8 million shares for sale for top share holder Avista Capital Partners.

MARKET COMMENTS

Sep E-mini S&Ps (ESU16 +0.17%) this morning are up +4.00 points (+0.18%) at a new all-time high. Friday's closes: S&P 500 +0.86%, Dow Jones +1.04%, Nasdaq +1.00%. The S&P 500 on Friday climbed to a new record high and closed higher on the +255,000 increase in U.S. July payrolls (stronger than expectations of +180,000) and the +0.3% m/m increase in U.S. July average hourly earnings (stronger than expectations of +0.2% m/m) that help sustain the economic recovery.

Sep 10-year T-notes (ZNU16 -0.06%) this morning are down -1 tick. Friday's closes: TYU6 -26.00, FVU6 -17.25. Sep T-notes on Friday fell to a 1-week low and closed sharply lower on the larger-than-expected increase in U.S. July non-farm payrolls, which may prompt the Fed to raise interest rates sooner rather than later. T-notes were also undercut by reduced safe-haven demand with the rally in the S&P 500 to a record high.

The dollar index (DXY00 +0.17%) this morning is up +0.138 (+0.14%). EUR/USD (^EURUSD) is down -0.0002 (-0.02%). USD/JPY (^USDJPY) is up +0.50 (+0.49%). Friday's closes: Dollar index +0.436 (+0.46%), EUR/USD -0.0044 (-0.40%), USD/JPY +0.60 (+0.59%). The dollar index on Friday closed higher on the stronger-than-expected U.S. July payroll report, which bolstered the case for the Fed to raise interest rates. In addition, EUR/USD fell to a 1-week low after German Jun factory orders unexpectedly fell -0.4% m/m, weaker than expectations of +0.5% m/m.

Sep WTI crude oil (CLU16 +1.46%) this morning is up +62 cents (+1.48%) at a 1-week high and Sep gasoline (RBU16 +0.68%) is up +0.0083 (+0.60%) at a 2-week high. Friday's closes: CLU6 -0.13 (-0.31%), RBU6 +0.0083 (+0.53%). Sep crude and gasoline on Friday settled mixed. Crude oil prices were undercut by the rally in the dollar and by the Baker Hughes report that showed that active U.S. oil rigs rose by +7 rigs in the week ended Aug 5 to a 4-1/2 month high of 381, the sixth straight week of increases. Crude oil prices found support on the rally in the S&P 500 to a new record high and on strong refinery demand after the crack spread rose to a 1-1/4 month high.

GLOBAL EVENT CALENDAR08/08/2016

		Monday, Aug 8
US	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Weekly Crop Progress.
		Tuesday, Aug 9
US	0830 ET	Q2 non-farm productivity expected +0.5%, Q1 -0.6%. Q2 unit labor costs expected +1.8%, Q1 +4.5%.
	1000 ET	Jun wholesale inventories expected unch, May unch. Jun wholesale trade sales expected +0.5%, May +0.5%.
	1300 ET	Treasury auctions $24 billion of 3-year T-notes.
JPN	0200 ET	Japan Jul machine tool orders, Jun -19.9% y/y.
	1950 ET	Japan Jun machine orders expected +3.3% m/m and -4.4% y/y, May -1.4% m/m and -11.7% y/y.
	1950 ET	Japan Jul PPI expected -0.1% m/m and -4.0% y/y, Jun -0.1% m/m and -4.2% y/y.
GER	0200 ET	German Jun trade balance expected +22.5 billion euros, May +21.0 billion euros. Jun exports expected +1.3% m/m, May -1.9% m/m. Jun imports expected +0.8% m/m, May +0.1% y/y.
UK	0430 ET	UK Jun industrial production expected unch m/m and +1.6% y/y, May -0.5% m/m and +1.4% y/y.
	0430 ET	UK Jun manufacturing production expected -0.2% m/m and +1.3% y/y, May -0.5% m/m and +1.7% y/y.
CHI	n/a	China Jul new yuan loans expected 900.0 billion yuan, Jun 1.38 trillion yuan.

U.S. STOCK CALENDAR08/08/2016

Company	Ticker	Time	Event Description	Period	Estimate
Tyson Foods Inc	TSN	7:30	Q3 2016 Earnings Release	Q3 2016	1.059
Allergan plc	AGN	7:30	Q2 2016 Earnings Release	Q2 2016	3.307
Allergan plc	AGN	8:30	Q2 2016 Earnings Call	Q2 2016
Tyson Foods Inc	TSN	9:00	Q3 2016 Earnings Call	Q3 2016
International Flavors & Fragrances Inc	IFF	16:00	Q2 2016 Earnings Release	Q2 2016	1.404
Gap Inc/The	GPS	16:15	July 2016 Sales and Revenue Release	2016
Endo International PLC	ENDP	16:30	Q2 2016 Earnings Call	Q2 2016
News Corp	NWSA	16:30	Q4 2016 Earnings Call	Q4 2016
Microchip Technology Inc	MCHP	17:00	Q1 2017 Earnings Call	Q1 2017
DaVita HealthCare Partners Inc	DVA	17:00	Q2 2016 Earnings Call	Q2 2016
DaVita HealthCare Partners Inc	DVA	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.976
Endo International PLC	ENDP	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.74
Southwest Airlines Co	LUV		July 2016 Sales and Revenue Release - Traffic Results	2016
Microchip Technology Inc	MCHP		Q1 2017 Earnings Release	Q1 2017	0.749
United Continental Holdings Inc	UAL		July 2016 Sales and Revenue Release - Traffic Results	2016
News Corp	NWSA		Q4 2016 Earnings Release	Q4 2016	0.127

MORNING CALL 6/23

MORNING CALL

Thursday, June 23rd, 2016View Older Reports Everything you need to know about the markets in one free daily newsletter. E-mail:   You will also receive a free subscription to the Barchart family of newsletters. OVERNIGHT MARKETS AND NEWS Sep E-mini S&Ps (ESU16 +0.99%) are up sharply by +0.99% at a 1-1/2 week high and European stocks are up +2.34% at a 3-week high as the UK referendum on membership in the European Union is under way. Optimism is high that Britain will vote to remain in the EU as GBP/USD soared +1.13% to a 5-3/4 month high. Global government bonds and the price of gold tumbled to 2-week lows with the surge in equity markets. Copper prices (HGN16+0.61%) jumped to a 1-1/2 month high and European stocks also found support on an unexpected increase in the Eurozone Jun Markit manufacturing PMI to its fastest pace of expansion in 6 months. Asian stocks settled mixed: Japan +1.07%, Hong Kong +0.35%, China -0.47%, Taiwan -0.45%, Australia +0.18%, Singapore +0.28%, South Korea -0.18%, India +0.88%. The dollar index (DXY00 -0.54%) is down -0.60% at a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.91% at a 2-week high. USD/JPY (^USDJPY) is up +1.34% at a 1-week high. Sep T-note prices (ZNU16 -0.31%) are down -13.5 ticks at a 2-week low. The Eurozone Jun Markit manufacturing PMI unexpectedly rose +1.1 to 52.6, stronger than expectations of -0.1 to 51.4 and the fastest pace of expansion in 6 months. U.S. STOCK PREVIEW Key U.S. news today includes: (1) today's Brexit vote in the UK, (2) weekly initial unemployment claims (expected -7,000 to 270,000, previous +13,000 to 277,000) and continuing claims (expected -13,000 to 2.144 million, previous +45,000 to 2.157 million), (3) May Chicago Fed national activity index (expected +0.01 to 0.11, Apr +0.65 to 0.10), (4) preliminary Jun Markit U.S. manufacturing PMI (expected +0.2 to 50.9, May -0.1 to 50.7), (5) May new home sales (expected -9.5% to 560,000, Apr +16.6% to 619,000), (6) May leading indicators (expected +0.1%, Apr +0.6%), (7) Jun Kansas City Fed manufacturing activity (expected unch at -5, May -1 to -5), (8) Dallas Fed President Robert Kaplan (non-voter) speaks at a Money Marketeers dinner un New York, and (9) USDA weekly Export Sales. There is 1 of the Russell 1000 companies that reports earnings today: Accenture (consensus $1.41). U.S. IPO's scheduled to price today: none. Equity conferences during the remainder of this week include: Citigroup Insurance Conference on Thu. OVERNIGHT U.S. STOCK MOVERS Herman Miller (MLHR -0.86%) climbed over 5% in after-hours trading after it reported Q4 adjusted EPS of 56 cents, higher than consensus of 52 cents, and said it sees Q1 adjusted EPS of 60 cents-64 cents, above consensus of 60 cents. Amazon.com (AMZN -0.73%) was rated a new 'Buy' at Maxim Group with a 12-month price target of $825. Home Depot (HD -0.11%) was upgraded to 'Buy' from 'Neutral' at Nomura with a price target of $155. Intuit (INTU -1.34%) was added to America's 'COnviction Buy List' at Goldman Sachs. CACI International (CACI -0.57%) said it sees fiscal 2017 EPS of $6.02-$6.43, below consensus of $6.50. Steelcase (SCS -0.87%) slid 4% in after-hours trading after it said it sees Q2 adjusted EPS of 29 cents-33 cents, below consensus of 37 cents. Apogee Enterprises (APOG -4.22%) jumped over 9% in after-hours trading after it reported Q1 EPS of 61 cents, well above consensus of 49 cents, and then raised guidance on fiscal 2017 EPS to $2.70-$2.85 from an April 6 view of $2.65-$2.80. Bed Bath & Beyond (BBBY -0.35%) fell nearly 6% in after-hours trading after it reported Q1 EPS of 80 cents, below consensus of 86 cents. Red Hat (RHT -0.80%) dropped over 5% in after-hours trading after it lowered guidance on fiscal 2017 adjusted EPS to $2.19-$2.23 from a March 22 view of $2.22-$2.26. H.B. Fuller (FUL -0.45%) reported Q2 adjusted EPS of 67 cents, weaker than consensus of 68 cents. CubeSmart (CUBE +0.57%) was rated a new 'Outperform' at FBR Capital Markets with a 12-month price target of $35. The U.S. Department of Defense said Harris Corp. (HRS -0.13%) won a $1.7 billion army contract for radios, ancillaries, spare parts and services for Afghanistan. Weyerhaeuser (WY +0.14%) said it will close 2 of its 3 lumber and plywood mills in Columbia Falls, Montana this summer and approximately 100 positions will be eliminated. SolarCity (SCTY +3.26%) fell over 2% in after-hours trading after Citron Research founder Andrew Left said that SolarCity "is not even technology. It's a subprime lender" and that he sees the stock price going to zero. MARKET COMMENTS September E-mini S&Ps (ESU16 +0.99%) this morning are up sharply by +20.50 points (+0.99%) at a 1-1/2 week high. Wednesday's closes: S&P 500-0.17%, Dow Jones -0.27%, Nasdaq -0.20%. The S&P 500 on Wednesday closed lower on the IMF's cut in its U.S. 2016 GDP estimate to 2.2% from 2.4% and on long liquidation pressure ahead of Thursday's UK Brexit vote. Stocks found support on the +1.8% increase in U.S. May existing home sales to a 9-1/4 year high of 5.53 million. Sep 10-year T-note prices (ZNU16 -0.31%) this morning are down -13.5 ticks at a 2-week low. Wednesday's closes: TYU6 +3.00, FVU6 +2.25. Sep T-notes on Wednesday closed higher on economic concerns after the IMF cut its U.S. 2016 GDP forecast and on decent demand for the Treasury's $28 billion 7-year T-note auction that had a 2.56 bid-to-cover ratio, above the 12-auction average of 2.49. The dollar index (DXY00 -0.54%) this morning is down -0.565 (-0.60%) at a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.0103 (+0.91%) at a 2-week high. USD/JPY (^USDJPY) is up +1.40 (+1.34%) at a 1-week high. Wednesday's closes: Dollar Index -0.301 (-0.32%), EUR/USD +0.0054 (+0.48%), USD/JPY -0.34 (-0.32%). The dollar index on Wednesday closed lower on strength in GBP/USD as Brexit concerns eased on optimism the UK will vote Thursday to remain in the European Union. The dollar was also undercut by cautious comments from Fed Chair Yellen that signal the Fed may be slow to raise interest rates when she said the "headwinds" of weak productivity growth and tepid business investment may only slowly fade over time. Aug WTI crude oil (CLQ16 +1.47%) this morning is up +64 cents (+1.30%). Aug gasoline (RBQ16 +0.88%) is up +0.0087 (+0.55%). Wednesday's closes: CLQ6 -0.72 (-1.44%), RBQ6 -0.0086 (-0.54%). Aug crude and gasoline on Wednesday both fell back from 1-week highs and closed lower. Crude oil prices were undercut by the -917,000 bbl decline in EIA crude inventories (less than expectations of -1.5 million bbl) and the unexpected +627,000 bbl increase in EIA gasoline inventories, more than expectations of -1.0 million bbl. Crude oil found support on a weaker dollar and the -0.4%decline in U.S. crude production in the week ended Jun 17 to a 1-3/4 year low of 8.677 million bpd. GLOBAL EVENT CALENDAR06/23/2016 Thursday, June 23, 2016 UK n/a UK Brexit referendum. UK polls are open from 7 AM to 10 PM local time (2 AM to 5 PM ET); first results expected at around midnight local time (7 PM ET) and final results are expected by about 7:00 AM local time on Friday (2 AM ET Friday). US 0830 ET Weekly initial unemployment claims expected -7,000 to 270,000, previous +13,000 to 277,000. Weekly continuing claims expected-7,000 to 2.150 million, previous +45,000 to 2.157 million. 0830 ET May Chicago Fed national activity index expected +0.01 to 0.11, Apr +0.65 to 0.10. 0830 ET USDA weekly Export Sales. 0945 ET Preliminary Jun Markit U.S. manufacturing PMI expected +0.2 to 50.9, May -0.1 to 50.7. 1000 ET May new home sales expected -9.5% to 560,000, Apr +16.6% to 619,000. 1000 ET May leading indicators expected +0.1%, Apr +0.6%. 1100 ET Jun Kansas City Fed manufacturing activity expected unch at -5, May -1 to -5. 1900 ET Dallas Fed President Robert Kaplan (non-voter) speaks at a Money Marketeers dinner un New York. Friday, June 24, 2016 US 0830 ET May durable goods orders expected -0.5% and +0.1% ex transportation, Apr +3.4% and +0.5% ex transportation. May capital goods orders nondefense ex-aircraft expected +0.4%, Apr -0.6%. 1000 ET Final-June University of Michigan U.S. consumer sentiment index expected -0.2 to 94.1, prelim-Jun -0.4 to 94.3. 1500 ET USDA Q2 Hogs & Pigs Inventory. 1500 ET USDA May Cold Storage. 1500 ET USDA May Cattle on Feed. GER 0400 ET German Jun IFO business climate expected -0.3 to 107.4, May +1.0 to 107.7. Jun IFO current assessment expected -0.2 to 114.0, May 114.2. Jun IFO expectations expected -0.4 to 101.2, May 101.6. U.S. STOCK CALENDAR06/23/2016 Company Ticker Time Event Description Period Estimate Accenture PLC ACN US Bef-mkt Q3 2016 Earnings Release Q3 2016 1.412 XL Group PLC XL US 5:15 Extraordinary Shareholders Meeting Y 2016 Accenture PLC ACN US 8:00 Q3 2016 Earnings Call Q3 2016 TransDigm Group Inc TDG US 9:00 Analyst Day Y 2016 Equinix Inc EQIX US 10:00 Analyst Day Y 2016 General Electric Co GE US 11:00 Investor Meeting - Digital Y 2016 Kroger Co/The KR US 11:00 Annual General Meeting Y 2016 SLM Corp SLM US 11:00 Annual General Meeting Y 2016 General Motors Co GM US 11:00 Business Update Call Southwest Airlines Co LUV US 12:00 Investor Day Y 2016 Square Inc SQ US 14:00 Annual General Meeting Cisco Systems Inc CSCO US 17:00 ITC Final Decision Due in 1st Cisco Systems vs. Arista Networks Patent Case Skechers U.S.A. Inc SKX US 17:00 ITC Final Decision Due in Skechers / New Balance vs. Converse Arista Networks Inc ANET US 17:00 ITC Final Decision Due in 1st Cisco Systems vs. Arista Networks Patent Case Citrix Systems Inc CTXS US 19:00 Annual General Meeting Y 2016 XL Group PLC XL US Special Meeting TripAdvisor Inc TRIP US Annual General Meeting