US futures move higher with overseas markets mostly in positive territory as traders await a deluge of economic reports out today, including home sales data and durable goods report.
US markets, including the bond market are closed tomorrow for the Thanksgiving holiday. The stock market will have a shortened day on Friday. Closing will be at 1PM EST.
NEWS:
NFLX: YHOO: Netflix sues Yahoo CIO for alleged kickbacks
TWTR: Twitter has reportedly held talks with Shots, a Justin Bieber backed developer of IOS/Android apps for taking and sharing selfies, reports Business Insider
SDRL: suspends dividends to help reduce debt
HTZ: Icahn ups Hertz stake to 10.8%
"OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week" reports Reuters
GS: HSBC: Complaint filed in the US accusing Goldman, BASF and HSBC of price fixing in the metals, report Reuters
MBA mortgage applications : Composite Index: -4.3% vs. +4.9% last week : Purchase Index: -10% vs. +12%
ON THE ECONOMIC CALENDAR FOR TODAY:
7AM: MBA Mortgage Applications
8:30AM: Durable Goods : expecting -0.7%
8:30AM: Initial Jobless Claims : analysts expecting 288K
8:30AM: Personal Income and Outlays : expecting 0.4%
8:30AM: Consumer Spending: expecting 0.3%
9:45AM: Bloomberg Consumer Comfort Index
9:45AM: Chicago PMI
9:55AM: Reuters/UofMichigan Consumer Sentiment : expecting 90.1
10AM: Pending Home Sales
10AM: New Home Sales: expecting 469K
10:30AM: EIA Petroleum Inventories
12PM: EIA Natural Gas Inventory
1PM: $29B 7 Year Note Auction
3PM: USDA Ag Prices
EARNINGS:
SOL earnings: ReneSola : Q3 EPS of -$0.06 misses by $0.11.Revenue of $372.46M (-11.2% Y/Y) misses by $45.6M
SDRL earnings: Seadrill: Q3 EPS of $0.31 may not be comparable to consensus of $0.67.Revenue of $1.29B (+0.8% Y/Y) beats by $60M : suspends dividends
DE earnings: Deere: FQ4 EPS of $1.83 beats by $0.26. Revenue of $8.97B (-5.1% Y/Y) : Q4 Agriculture & Turf sales down 13% to $682M
UPGRADES & DOWNGRADES:
ZAYO: initiated: overweight: Barclays: $30
ZAYO: added to Goldman's Conviction Buy list
ZAYO: initiated: buy: Citigroup: $30
ZAYO: initiated: overweight: Morgan Stanley: $28
ACT: assumes coverage: equal weight: Barclays: $268
DSW: pt raised from $34 to $37: Telsey Advisory Group
KEYS: initiated: outperform: Baird: $41
CTRP: pt cut from $88 to $49: Piper Jaffray
VEEV: pt raised from $32 to $35: JPMorgan
CNK: downgrade: buy to hold: Topeka Capital: $39
LPX: downgrade: sector perform to underperform: RBC Capital: $13
AVGO: pt raised from $99 to $109: RBC Capital
GPRO: Piper Jaffray positive on the company into the holiday season
AGU: downgrade: neutral to underperform: BofA/Merrill: $99
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