US futures up modestly at this hour as most global markets find more selling again today driven by renewed worries over a lagging Chinese economy, a weak energy market and political tensions around the world. BoE leaves interest rates, quantitative easing plan unchanged.
NEWS:
- RCI: BT: Rogers Communications and BT Sport are partnering with the NBA to deliver the league's first live game presented in 4K
- BBY: Best Buy reports holiday period domestic SSS down 1.2%: reports holiday period online revenue up 12.6%
- SUNE: SunEdison Solar Parking Lots to Save 25 California Schools More Than $30 Million, reports prnewswire
- NVS: Norvartis named Top Pharma Global Pick at Jefferies
- CMG: Deutsche Bank out negative on Chipotle, reiterating a hold and $400 pt (NOTE: the stock was upgraded to buy at CLSA this morning)
THE ECONOMIC CALENDAR:
- 8:15AM: Fed's Bullard speaks on "US Economy and Monetary Policy"
- 8:30AM: Weekly Jobless Claims
- 8:30AM: Import/Export Prices
- 9:45AM: Bloomberg Consumer Comfort Index
- 10:30AM: EIA Natural Gas Inventory
- 1PM: $13B, 30 Year Note Auction
- 4:30PM: Money Supply and Fed Balance Sheet
SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:
- JPM: Q4 EPS of $1.32 beats by $0.07: revenue of $23.7B beats by $81.0M: revenue =0.6% y/y
- INFY: FQ# EPS of $0.23 in-line: revenue of $2.41B beats by $40.0M: revenue +8.5% y/y: raises guidance
- WNS: FQ3 EPS of $0.50 beats by $0.03: revenue of $135.9M misses by $0.8M: revenue +5.8% y/y
- FUL: FQ3 EPS of $0.69 in-line: revenue of $548.1M beas by $6.2M: revenue +0.1% y/y
SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:
- INTC, OZRK
ANALYSTS' RATINGS CHANGES:
UPGRADES:
- RTEC: upgrade: hold to buy: Stifel: $15
- FANG: upgrade: market perform to outperform: Cowen
- USB: upgrade: neutral to outperform: Baird: $45
- ALLE: upgrade: in-line to outperform: Imperial Capital: $68
- BKU: upgrade: market perform to outperform: BMO Capital
- MET: upgrade: neutral to outperform: Macquarie
- CSX: upgrade: hold to buy: BBT: $27
- NGLS: upgrade: hold to by: Jefferies: $16
- TRGP: upgrade: hold to buy: Jefferies
- BHP: upgrade: neutral to buy: Citi: $18
- MTN: upgrade: neutral to buy: MKM Partners
DOWNGRADES:
- SVU: downgrade: outperform to market perform: Telsey Advisory: pt cut from $10 to $6
- SVU: downgrade: buy to hold: Deutsche Bank: pt cut from $8 to $6
- AA; downgrade: buy to hold: Argus
- YELP: downgrade: neutral to sell: B Riley: pt cut from $21 to $15
- MAR: downgrade: buy to neutral: MKM Partners: pt cut from $100 to $61
- STAY: downgrade: buy to neutral: MKM Partners
- BEL: downgrade: buy to sell: MKM Partners
- CHH: downgrade: neutral to sell: MKM Partners: pt cut from $55 to $40
- HLT: downgrade: buy to sell: MKM Partners
- H: downgrade: buy to sell: MKM Partners:
- DFS: downgrade: overweight to neutral: JP Morgan: pt cut from $60 to $56
- NVDA: downgrade: equal weight to underweight: Barclays: pt raised from $23 to $25
- FFIV: downgrade: equal weight to underweight: Barclays: pt cut from $123 to $98
INITIATIONS:
- FDC: initiated: buy: Stifel: $18
- ADBE: initiated: buy: Dougherty: $114
- XTLY: initiated: buy: Dougherty: $14
- ACU: initiated: market perform: Avondale: $23
- VA: initiated: underweight: JP Morgan: $31
- SAVE: initiated: overweight; JP Morgan: $52
- NFLX: initiated: buy: Drexel Hamilton: $150
- DIS: initiated: buy: Drexel Hamilton: $117
- CNK: initiated: buy: Drexel Hamilton: $41
- RGC: initiated: buy: Drexel Hamilton: $21
PRICE TARGET CHANGES:
- ES: pt raised from $52 to $54: Mizuho
- QCOM: pt cut from $64 to $51: Mizuho
- QCOM: pt cut from $80 to $70: Argus
- KND: pt cut from $12.75 to $9: Mizuho
- GPRO: pt cut from $15 to $9: Piper Jaffray
- GPRO: pt cut from $45 to $21: JP Morgan
- GPRO: pt cut from $39 to $20:Northland
- SVU: pt cut from $8 to $7: RBC Capital
- LBTYA: pt cut from $58 to $52: RBC Capital
- MGA: pt cut from $64 to $62: RBC Capital
- COF: pt cut from $88 to $85: RBC Capital
- FFIV: pt cut from $115 to $112: RBC Capital
- HAIN: pt cut from $54 to $52: Wunderlich
- CNK; pt cut from $50 to $40: Wunderlich
- FANG: pt cut from $85 to $75: Wunderlich
- CSK: pt cut from $28 to $25: Cowen
- CSK: pt cut from $31 to $27: RBC Capital
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