Showing posts with label ZAYO. Show all posts
Showing posts with label ZAYO. Show all posts

Tuesday, November 7, 2017

Morning Call 11/7

Barchart Morning Call

OVERNIGHT MARKETS AND NEWS
Dec E-mini S&Ps (ESZ17 -0.01%) this morning are little changed, down -0.02%, after they rose to a record nearest-futures high in overnight trade. Strength in energy stocks lifted the overall market after Dec WTI crude oil (CLZ17 -0.10%) posted a new 2-1/3 year high in overnight trade. European stocks are down slightly by -0.17% after German Sep industrial production fell more than expected. European stocks were also undercut by disappointing quarterly earnings results from BMW AG and Associated British Foods Plc. Asian stocks settled mostly higher: Japan +1.73%, Hong Kong +1.39%, China +0.75%, Taiwan +0.50%, Australia +1.02%, Singapore +0.92%, South Korea -0.19%, India -1.07%. China's Shanghai Composite climbed to a 1-week high as the rally in crude oil to a 2-1/3 year high boosted Chinese energy stocks. Japan's Nikkei Stock Index soared to a 25-3/4 year high, bolstered by strong corporate quarterly earnings results and by Monday’s rally in USD/JPY to a 7-1/2 month high. Japanese consumer stocks also gained on optimism that consumer spending may improve after Japan Sep labor cash earnings rose +0.9% y/y, its largest increase in 14 months.

The dollar index (DXY00 +0.36%) is up +0.30% at a 1-week high as an increase in the 10-year T-note yield boosts the dollar's interest rate differentials. EUR/USD (^EURUSD) is down -0.36% at a 3-1/2 month low and was pressured by the weaker-than-expected German Sep industrial production. USD/JPY (^USDJPY) is up +0.40%.
Dec 10-year T-note prices (ZNZ17 -0.06%) are down -2 ticks.
German Sep industrial production fell -1.6% m/m, weaker than expectations of -0.9% m/m and the biggest decline in 9 months.
Eurozone Sep retail sales rose +0.7% m/m, stronger than expectations of +0.6% m/m and the largest increase in 11 months.
Japan Sep labor cash earnings rose +0.9% y/y, stronger than expectations of +0.5% y/y and the biggest increase in 14 months. Sep real cash earnings fell -0.1% y/y, stronger than expectations of -0.2% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Sep JOLTS job openings (expected -29,000 to 2.053 million, Aug -58,000 to 6.082 million), (2) Fed Governor Randal Quarles speaks at The Clearing House annual conference in New York, (3) Treasury auctions $24 billion of 3-year T-notes, (4) Sep consumer credit (expected +$17.5 billion, Aug +$13.965 billion).
Notable S&P 500 earnings reports today include: Emerson Electrict (consensus $0.82), Marriott (0.99), Welltower (1.06), Royal Caribbean Cruises (3.40), Cboe Global Markets (0.87), Expeditors Intl (0.61).
U.S. IPO's scheduled to price today: CBTX Inc (CBTX), Metropolitan Bank Holding (MCB).
Equity conferences this week: Citi Financial Technology Conference on Mon-Tue, EEI Financial Conference on Mon-Tue, Credit Suisse Health Care Conference on Tue-Wed, Bernstein Technology Innovation Summit on Tue-Wed, Stephens Fall Investment Conference on Tue-Wed, RBC Capital Markets Technology, Internet, Media and Telecommunications Conference on Tue-Wed, Robert W. Baird Global Industrial Conference on Tue-Wed, Wells Fargo Technology, Media & Telecom Conference on Tue-Wed, Deutsche Bank Gaming, Lodging & Leisure Conference on Wed.
OVERNIGHT U.S. STOCK MOVERS
Priceline Group (PCLN +0.45%) tumbled over 9% in after-hours trading after it said it sees Q4 adjusted EPS of $13.40 to $14.00, well below consensus of $15.56.
Weight Watchers International (WTW +0.27%) rallied 10% in after-hours trading after it reported Q3 EPS of 65 cents, higher than consensus of 51 cents, and then said it sees full-year EPS of $1.77 to $1.83, better than consensus of $1.46.
Red Robin Gourmet Burgers (RRGB +0.15%) sank 18% in after-hours trading after it reported Q3 adjusted EPS of 21 cents, well below consensus of 29 cents, and then forecast full-year EPS of $2.16 to $2.31 weaker than consensus of $2.80.
Las Vegas Sands (LVS +1.02%) was upgraded to 'Overweight' from 'Equal Weight' at Morgan Stanley with a price target of $72.
U.S. Silica Holdings (SLCA +3.55%) jumped 6% in after-hours trading after it reported Q3 revenue of 34 million, higher than consensus of $328.9 million.
Veritone (VERI +6.26%) tumbled over 12% in after-hours trading after it reported a Q3 net loss of -$1.31 per share, wider than consensus of -43 cents.
Lowe's (LOW -0.65%) was initiated with a recommendation of 'Overweight' at KeyBanc Capital Markets with a 12-month target price of $98.
Zayo Group Holdings (ZAYO -0.12%) slipped nearly 4% in after-hours trading after it reported Q1 EPS of 9 cents, weaker than consensus of 12 cents.
Tenet Healthcare (THC -3.29%) fell 5% in after-hours trading after it said it sees Q4 adjusted EPS of $1.20 to $1.35, below consensus of $1.55, and then lowered guidance on full-year adjusted EPS to 59 cents-74 cents from a prior view of 69 cents to 99 cents, weaker than consensus of 75 cents.
Avis Budget Group (CAR +1.10%) dropped 11% in after-hours trading after it lowered guidance on full-year adjusted EPS to $2.45 to $2.65 from a prior view of $2.40 to $2.85, weaker than consensus of $2.69.
TripAdvisor (TRIP +1.67%) dropped nearly 9% in after-hours trading after it reported Q3 revenue of $439 million, weaker than consensus of $451.7 million.
Lannett (LCI +2.42%) jumped over 8% in after-hours trading after it said it sees full-year net sales of $710 million to $720 million, well above consensus of $654.9 million.
AMC Entertainment Holdings (AMC +2.52%) slid 7% in after-hours trading after it said it sees 2017 revenue of $5.00 billion to $5.20 billion, the mid-point below consensus of $5.16 billion.
TrueCar (TRUE +1.55%) plunged 26% in after-hours trading after it reported Q3 revenue of $82.4 million, weaker than consensus of $86.9 million, and then forecast full-year revenue of $321 million to $323 million, below consensus of $328.6 million.
Manitowoc (MTW +1.20%) rose nearly 5% in after-hours trading after it reported Q3 revenue of $399.4 million, better than consensus of $385.1 million.
MARKET COMMENTS
Dec S&P 500 E-mini stock futures (ESZ17 -0.01%) this morning are down -0.50 points (-0.02%). Monday's closes: S&P 500 +0.13%, Dow Jones +0.04%, Nasdaq +0.29%. The S&P 500 on Monday climbed to a new record high and closed higher on strength in technology stocks led by a +1.0% gain in Apple to a record high. There was also strength in energy stocks after the price of crude oil climbed +3.07% to a 2-1/3 year high.
Dec 10-year T-note prices (ZNZ17 -0.06%) this morning are down -2 ticks. Monday's closes: TYZ7 +6.50, FVZ7 +2.50. Dec 10-year T-notes on Monday posted a fresh 2-week high and closed higher on carry-over support from a rally in 10-year German bunds to a 1-3/4 month high and on increased safe-haven demand from geopolitical tensions in the Middle East after Saudi Arabia said an attempted missile attack on Riyadh's airport could be an act of war by Iran.
The dollar index (DXY00 +0.36%) this morning is up +0.284 (+0.30%) at a 1-week high. EUR/USD (^EURUSD) is down -0.0042 (-0.36%) at a 3-1/2 month low and USD/JPY (^USDJPY) is up +0.45 (+0.40%). Monday's closes: Dollar Index -0.184(-0.19%), EUR/USD +0.0002 (+0.02%), USD/JPY -0.36 (-0.32%). The dollar index on Monday fell back from a 1-week high and closed lower on increased safe-haven demand for the yen as USD/JPY declined on tensions between Iran and Saudi Arabi after Saudi Arabi said a weekend attempted missile strike at Riyadh's airport could be an act of war by Iran. The dollar was also undercut by the decline in the 10-year T-note yield to a 2-week low, which undercuts the dollar's interest rate differentials.
Dec crude oil (CLZ17 -0.10%) this morning is down -2 cents (-0.03%) and Dec gasoline (RBZ17 -0.51%) is -0.0079 (-0.43%). Monday's closes: Dec WTI crude +1.71 (+3.07%), Dec gasoline +0.0366 (+2.04%). Dec crude oil and gasoline on Monday closed higher with Dec crude at a 2-1/3 year high. Crude oil prices were boosted by geopolitical concerns that may lead to disruption of Middle Eastern crude supplies after Saudi Arabia blamed Iran for an attempted missile attack on Riyadh's international airport and said it could be considered an "act of war."
Metals prices this morning are weaker with Dec gold (GCZ17 -0.39%) -4.5 (-0.35%), Dec silver (SIZ17 -1.25%) -0.195(-1.13%) and Dec copper (HGZ17 -1.06%) -0.032 (-1.00%). Monday's closes: Dec gold +12.4 (+0.98%), Dec silver +0.401 (+2.38%), Dec copper +0.0400 (+1.28%). Metals on Monday closed higher on a weaker dollar and the -1,950 MT decline in LME copper inventories to a 1-3/4 month low of 268,450 MT, a sign of tighter supplies.
GLOBAL EVENT CALENDAR11/07/2017
Tuesday, Nov 7
US1000 ETSep JOLTS job openings expected -32,000 to 6.050 million, Aug -58,000 to 6.082 million.
1235 ETFed Governor Randal Quarles speaks at The Clearing House annual conference in New York.
1300 ETTreasury auctions $24 billion of 3-year T-notes.
1500 ETSep consumer credit expected +$17.5 billion, Aug +$13.965 billion.
Wednesday, Nov 8
US0700 ETWeekly MBA mortgage applications, previous -2.6% with purchase sub-index -0.8% and refi sub-index -4.5%.
1030 ETEIA weekly Petroleum Status Report.
1300 ETTreasury auctions $23 billion of 10-year T-notes.
U.S. STOCK CALENDAR11/07/2017
NameTickerTimeDescriptionPeriodEstimate
Welltower IncHCN USBef-mktQ3 2017 Earnings ReleaseQ3 171.055
Expeditors International of Washington IncEXPD USBef-mktQ3 2017 Earnings ReleaseQ3 170.606
Royal Caribbean Cruises LtdRCL USBef-mktQ3 2017 Earnings ReleaseQ3 173.398
Tapestry IncTPR US06:45Q1 2018 Earnings ReleaseQ1 180.36
Emerson Electric CoEMR US06:55Q4 2017 Earnings ReleaseQ4 170.82
Cboe Global Markets IncCBOE US07:30Q3 2017 Earnings ReleaseQ3 170.874
Principal Financial Group IncPFG US08:00Roadshow
TripAdvisor IncTRIP US08:30Q3 2017 Earnings CallQ3 17
Cboe Global Markets IncCBOE US08:30Q3 2017 Earnings CallQ3 17
Tapestry IncTPR US08:30Q1 2018 Earnings CallQ1 18
FMC CorpFMC US09:00Q3 2017 Earnings CallQ3 17
Delphi Automotive PLCDLPH US09:00Extraordinary Shareholders Meeting
Welltower IncHCN US10:00Q3 2017 Earnings CallQ3 17
International Flavors & Fragrances IncIFF US10:00Q3 2017 Earnings CallQ3 17
Royal Caribbean Cruises LtdRCL US10:00Q3 2017 Earnings CallQ3 17
Automatic Data Processing IncADP USAnnual General Meeting - Proxy Fight for Board Representation
salesforce.com IncCRM US14:00Investor Day
Emerson Electric CoEMR US15:00Q4 2017 Earnings CallQ4 17
DaVita IncDVA USAft-mktQ3 2017 Earnings ReleaseQ3 170.941
DXC Technology CoDXC USAft-mktQ2 2018 Earnings ReleaseQ2 181.525
CSRA IncCSRA US16:15Q2 2018 Earnings ReleaseQ2 180.481
Marriott International Inc/MDMAR US16:30Q3 2017 Earnings ReleaseQ3 170.985
CSRA IncCSRA US17:00Q2 2018 Earnings CallQ2 18
DaVita IncDVA US17:00Q3 2017 Earnings CallQ3 17
DXC Technology CoDXC US17:00Q2 2018 Earnings CallQ2 18
Cimarex Energy CoXEC US23:00Q3 2017 Earnings ReleaseQ3 170.962

Tuesday, August 22, 2017

Morning Call 8/22

Barchart Morning Call

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

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

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