US futures spike lower with global markets comfortably in the red with the Shanghai entering bear territory even as China pumps $15B into the market. Overnight, oil broke the $30 mark as the commodity feels the pressure of oversupply worries as the Iranian sanctions are set to expire as soon as this weekend.
NEWS:
- BHP: takes $7.2B write down on the value of its US shale assets, reports The Guardian
- ADI: issues FQ1 warning
- RDN: launches $100M buyback program
- FB: German court calls Facebook's Find-a-Friend function illegal, reports the WSJ
- ATVI: TTWO: EA: GME: NPD reports that December saw 1.5% decrease in sales across physical software, hardware and accessories: video game software drops 3%
- AMZN: expands logistics reach with move into ocean shipping, reports reuters
- AAPL; Apple may be on hook for $8B in taxes after Europe Probe, reports Bloomberg
- NKE: extends sponsorship with Ohio State
- SRPT: FDA expresses "considerable doubt" regarding Serepta's DMD drug
- LOXO: LOXO-101 designated an orphan drug in Europe for soft tissue sarcoma
- GE: announces deal to sell its appliance business to China's Haier Group for $5.4B, reports the WSJ
- 8:30AM: Producer Price Index: expectation -0.2%: Actual -0.2%
- 8:30AM: Core PPI: expectation 0.0%: Actual 0.1%
- 8:30AM: Retail Sales: expectation 0.2%: Actual -0.1%
- 8.30AM: Retail Sales ex-auto: expectation 0.2%: Actual -0.1%
- 8:30AM: Empire State Manufacturing Survey: expectation -5.1: Actual -19.4
- 9:15AM: Industrial Production: expectation -0.2%: Actual -0.4%
- 9:15AM: Capacity Utilization: expectation 76.9%: Actual 76.5
- 10AM: Reuters/UofM Consumer Sentiment: expectation 92.0: Actual 93.3
- 10AM: Business Inventories: expectation -0.1%: Actual -0.2%
- 1PM: Baker-Hughes Rig Count: Actual oil rig count down by 1
- INTC: Q4 EPS of $0.74 beats by $0.11: revenue of $14.91B beats by $110M: revenue +1.3% y/y: solid revenue guidance: server-chip sales fall short
- OZRK: Q4 EPS of $0.57 beats by $0.01: revenue of $137.0M beats by $8.28M: revenue
+28.6% y/y
- BLK: Q4 EPS of $4.75 misses by $0.06: revenue of $2.86B beats by $20M: revenue
+2.9% y/y: raises quarterly dividend by 5% to $2.29/share C: Q4 EPS (excl. CVA/DVA) of $1.06 beats by $0.01: revenue (excl. CVA/DVA) of $18.64B beats by $770M: revenue +4.2% y/y WFC: Q4 EPS of $1.03 beats by $0.01: revenue of $21.6B misses by $200M: revenue +0.7% y/y - FAST: Q4 EPS of $0.39 misses by $0.01: revenue of $922.79M in-line: revenue -0.4% y/y:
- PNC:Q4 EPS of $1.87 beats by $0.07: revenue of $385B beats by $60M: revenue -2.5% y/y
- RF: Q4 EPS of $0.21 beats by $0.01: revenue of $1.36B beats by $30M: revenue +4.5% y/y
- USB: Q4 EPS of $0.80 beats by $0.01: revenue of $5.21B beats by $90M: revenue +0.8% y.y
UPGRADES:
- GILD: upgrade: underperform to neutral: BofA/Merrill: $107
- LEN: upgrade: neutral to buy: UBS: $50
- DPM: market perform to outperform: Wells Fargo: pt range but from $29-$32 to $27-$30
- ONDK: upgrade: sell to neutral: Compass Point: $8.50
- MCHP: upgrade: hold to buy: Needham: $60
- NOK: upgrade: hold to buy: Argus: $12
- WWAV: upgrade: equal weight to overweight: Barclays: $45
- PLT: upgrade: neutral to overweight: JP Morgan
- AEM: upgrade: market perform to outperform: BMO Capital: pt raised from $30 to $36
- EA: upgrade: neutral to buy: BofA/Merrill: $81
- MAS: upgrade; neutral to buy: UBS:
- URI: upgrade: neutral to buy: Longbow
- HEES: upgrade: neutral to buy: Longbow
- CL: upgrade: neutral to outperform: BNP Paribas
- MKTO: upgrade: sector perform to outperform: RBC Capital: $34
- SEP: upgrade: sector perform to outperform: RBC Capital: $58
- SHPG: upgrade: neutral to buy: BofA/Merrill
- JPM: upgrade: neutral to overweight: Atlantic Equities
- PBF: upgrade: equal weight to overweight: Morgan Stanley
- MOS: upgrade: sell to neutral: Goldman: pt cut from $34 to $28
- DHI: downgrade: buy to neutral: UBS: $29
- TXTR: downgrade: buy to sell: Benchmark Company: pt cut from $32 to $14
- PAA: downgrade: outperform to sector perform: RBC Capital: pt cut from $36 to $23
- GRMN: downgrade: perform to underperform: Credit Suisse: $32
- GEL: downgrade: outperform to market perform: Wells Fargo: pt range cut from $45-$50 to $31-$35
- SMLP: downgrade: outperform to market perform: Wells Fargo: pt range cut from $21-$24 to $17-$21
- PRO: downgrade: buy to hold: Stifel
- TRK: downgrade: outperform to neutral: Macquarie
- ERIC: downgrade: buy to hold: Deutsche Bank
- NVS: downgrade: equal weight to underweight: Barclays
- DIS: downgrade: equal weight to underweight: Barclays: pt cut from $98 to $89
- EBAY: initiated: positive: Susquehanna: $34
- AMZN: initiated: positive: Susquehanna: $900
- P: initiated: neutral: Susquehanna: $11
- IACI: initiated: positive: Susquehanna: $75
- FMER: initiated: market perform: Hovde Group: $18
- LULU: pt raised from $43 to $52: Wolfe Research
- EA: pt raised from $79 to $81: Cowen
- XLRN: pt raised from $60 to $63: FBR Capital
- INTC: pt cut from $48 to $36: Topeka Capital
- INTC: pt cut from $35 to $33: RBC Capital
- IBM: pt cut from $150 to $145: RBC Capital
- HAIN: pt cut from $47 to $42: RBC Capital
- HOG: pt cut from $51 to $44: RBC Capital
- PII: pt cut from $93 to $88: RBC Capital
- WDC: pt cut from $94 to $76: RBC Capital
- HAIN: pt cut from $47 to $42: RBC Capital
- TEL: pt cut from $70 to $65: RBC Capital
- ST: pt cut from $50 to $45: RBC Capital
- STX: pt cut from $47 to $40: RBC Capital
- BBY: pt cut from $45 to $38: Telsey Advisory
- BB: pt cut from $33 to $30: RBC Capital
- BC: pt cut from $61 to $49: RBC Capital
- CLS: pt cut from $14 to $12: RBC Capital
- LBTYA: pt cut from $61 to $48: Pivotal Research
- APH: pt cut from $60 to $55: RBC Capital
- ADI: pt cut from $69 to $58: RBC Capital
- ASNA: pt cut from $18 to $15: RBC Capital
- MCK: pt cut from $210 to $193: Mizuho
- KEX: pt cut from $95 to $66: Stephens
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