Thursday, November 20.2014

US futures down 0.4%, following European markets to the downside at this hour after the eurozone PMI fell to 51.4, a 16-month low. News out of Asia wasn't much better with PMI date out of Japan weak, and China data showing factory activity declined in November. Investors braces for a full day of economic data itself including CPI and existing home sales.


on the economic calendar for today:
8:30AM: Consumer price index for Oct: forecast -0.1%
8:30AM: Core CPI:  forecast 0.2%
8:30AM: Weekly initial jobless claims: analysts expecting an unchanged reading of 290K
9AM: PMI manufacturing index flash
9:45AM: Bloomberg consumer comfort index
10AM: NY Fed Dudley speech to be released
10AM: Philly Fed business outlook for Nov: looking for a drop to 18.5 from Oct's 20.7
10AM: Existing home sales for Oct: forecast is for 5.15M, down from Sept's 5.17M
10AM: Leading indicators
10:30AM: EIA Natural Gas inventory

USDJPY: The yen continues its tumble, falling to 7-year lows against the dollar

GPRO: priced secondary at $75 late yesterday

BABA: AMZN: EBAY: Jack Ma ups his game and announces that he will estimable an international version of Alibaba's e-commerce marketplace, going head to head with Amazon and Ebay. Not only will consumers be able to sell to each other but the site will be offered in different languages.

REGN: SNY: Sanofi and Regeneron announce that Dupilumab has received FDA Breakthrough therapy designation in Atopic Dermatitis, reports Reuters

TEC: CGG: Technip makes $1.83B preliminary takeover offer to French oil-service company, CGG (7:45AM offer was rejected)

PRGO: files to sell $900M in ordinary shares

EARNINGS:
BBY earnings: Best Buy : Q3 EPS of $0.32 beats by $0.07.Revenue of $9.38B beats by $270MJKS earnings: JinkoSolar: Q3 EPS of $1.36 beats by $0.65.Revenue of $417.3M  misses by $42.5M: guides Q4 total solar module shipments 1,030MW-1,120MW vs. 708MW in Q3
MBLY earnings: Mobileye: Q3 EPS of $0.04 in-line.Revenue of $34.7M  beats by $4.4M
KIRK earnings: Kirkland's : Q3 EPS of $0.07 beats by $0.04.Revenue of $117.2M beats by $2.81M

CRM: pt raised from $71 to $74: Pivotal Research Group
LOW: pt raised from $60 to $67: Telsey Advisory Group
TGT: pt raised from $68 to $77: Telsey Advisory Group
WSM: pt raised from $67 to $71: Canaccord
JBLU: upgrade; underperform to neutral: Credit Suisse: $15
VIPS: reiterates: overweight: Morgan Stanley: $28
YUM: upgrade; neutral to buy: Janney: $88
CLF: downgrade; buy to hold: Deutsche Bank: $10
AAPL: pt raised from $120 to $135: Piper Jaffray
AAPL; pt raised from $115 to $126: Morgan Stanley
ATHN: downgrade; sector perform to underperform: RBC Capital: pt cut from $115 to $80
BXP: downgrade; outperform to neutral: Baird: $128
PETM: pt raised from $65 to $80: Telsey Advisory Group
REGN: pt raised from $390 to $450: Brean Capital