Tuesday, November 25, 2014

US futures up slightly at this hour following europe into positive territorry as traders are closely watching for surprises in US GDP data today, while keeping an eye on the oil market ahead of OPEC's meeting in Vienna later this week

on the economic calendar for today:
7:45AM: ICSC Retail Store Sales
8:30AM: GDP Q3 revision
8:3AM: Corporate Profits
8:55AM: Rebook Chain Store Sales
9AM: FHFA Home Price Index
9AM: S&P Case Shiller Home Price Index
10AM: Consumer Confidence Index
10AM: Richmond Fed  Manufacturing
1PM $13B, 2 Year FRN Auction
1PM: $35B, 5 Year Note Auction

EARNINGS:
FRO earnings: Frontline : Q3 EPS of -$0.15 beats by $0.05.Revenue of $65.94M (+28.5% Y/Y) beats by $3.58M

DANG earnings: E-Commerce China Dangdang: Q3 EPS of $0.05 misses by $0.01.Revenue of $326.3M (+30.9% Y/Y) beats by $2.86M

TIF earnings: Tiffany: Q3 EPS of $0.76 misses by $0.01.Revenue of $959.59M (+5.3% Y/Y) misses by $10.43M : guides  FY14 EPS $4.20-$4.30 ex-items, consensus $4.34 : Sees worldwide net sales increasing by a mid-to-high-single-digit percentage versus the previous high-single-digit forecast.

DSW earnings: DSW : Q3 EPS of $0.56 beats by $0.04.Revenue of $669.87M (+7.2% Y/Y) beats by $8.86M: :authorized additional $50M  share repurchase program

CPB earnings: Campbell Soup : FQ1 EPS of $0.74 beats by $0.02.Revenue of $2.26B (+4.1% Y/Y) beats by $40M

MOV earnings: Movado: Q3 EPS of $0.87 beats by $0.01.Revenue of $188.56M (-0.6% Y/Y) in-line:  announces it will increase its share buyback program to $100M from $50M

CHS earnings: Chico's FAS : Q3 EPS of $0.17 in-line.Revenue of $665.57M (+1.5% Y/Y) misses by $7.84M

CBRL earnings: Cracker Barrel : FQ1 EPS of $1.42 beats by $0.13.Revenue of $683.43M (+5.3% Y/Y) beats by $17.93M

-----
NEWS:

LO:PM:MO:VGR: RAI: China is considering a broad ban on smoking, including tobacco advertising, smoking in public places, prohibiting vending machine sales of cigarettes and cutting smoking scenes in film and TV

TWX: NFLX:  Looking to expand its audience in China, HBO  has signed a deal with Tencent to distribute its TV dramas and movies through the Chinese Internet giant’s online video site

VRX: announces FDA approval of Onexton gel

CSG: Chambers Street sells two more non-core assets (Orlando and the UK)

AMZN: MakerBot offering 3D printed products

GDP revision: U.S. growth in third quarter raised to 3.9% from 3.5%

WTSL: the company announces it was exploring strategic alternatives

FDA to Require Calorie Counts at Restaurants: Final Labeling Rules, to be Unveiled today, Will Apply to Movie Theaters, Convenience Stores, reports the WSJ

September FHFA Housing Price Index: flat M/M at 213.9 vs. consensus +0.5%, +0.4% prior (revised from +0.5%)

S&P Case-Shiller Home Price Index: +0.3% M/M in line with consensus,  -0.1% prior

SCOK:  SinoCoking announced that its aboveground facility for the conversion of carbon dioxide into clean-burning syngas has achieved its initial production target of 25,000 cubic meters per hour, reports briefing investor

UPGRADES & DOWNGRADES:

PANW: pt raised from $105 to $121: FBR
PANW: pt raised from $100 to $125: Deutsche Bank
PANW; pt raised from $125 to $130: Stephens
PANW: pt raised from $110 to $135: Credit Suisse
PANW: momentum appears sustainable, says Roth Capital

WDAY: pt cut from $110 to $100: FBR
WDAY: pt cut from $100 to $94: Jefferies
WDAY: A buy on weakness, says JMP Securities
WDAY: Workday guidance likely conservative, says UBS

BMRN: pt raised from $67 to $103: RBC Capital
BMRN: pt raised from $87 to $100: Jefferies

AAPL: raises pt from $115 to $130: Stifel
MDT: pt raised from $73 to $81: RBC Capital
NFLX: downgrade: buy to hold: Stifel: better risk/reward in low 300s
CYBR: downgrade; buy to neutral: Normura: $36 pt
CYBR: initiated: underperform: Imperial Capital: $40
BBW: pt raised from $18 to $23: Piper Jaffray
LEN: pt raised from $43 to $54: RBC Capital
BRCD: downgrade; buy to hold: Wunderlich: $12
GE: initiated: outperform: RBC Capital: $30
CFX: initiated: sector perform: RBC Capital: $58
CR: initiated: outperform: RBC Capital: $75
TJX: upgrade: neutral to overweight: JPMorgan: pt raised from $63 to $75
URI; pt raised from $117 to $135: Jefferies
NLNK: pt raised from $41 to $48: Cantor
JACK; pt raised from $77 to $85: Wunderlich
RFMD: pt raised from $15 to $20: Pacific Crest
CMCSA: Comcast is added to the U.S. 1 List of best investment ideas at Bank of America