US futures follow European markets higher despite the spike down in the Shanghai which closed down 5.32%. With little on the economic calendar, investors await the start of the 2016 earnings season today. Overnight, oil prices fell as oversupply continues to put pressure on the commodity.
NEWS:
- ACI: files for bankruptcy
- BXLT: Shire buys Baxalta for $45.57/share in $32B deal
- AA: gets $1.5 billion supply contract from GE
- AMZN: NFLX: At 2016 Golden Globes, Amazon Wins Best TV Comedy, But Netflix Goes Home Empty-Handed, reports Forbes
- AMRN: guides FY16 revenue $105M-120M vs consensus $136.76M
- KSS: going private rumors surface
- GCO: cuts FY16 adjusted EPS
- QTNT: announces planned expansion for intended use of MosaiQ
- DECK: Barrons out positive on the stock and the new Ugg line
- SSI: holiday same store sales fall 2.5%
- AVXL: Anavex's Alzheimer's drug shows encouraging results in mid-state study
- M: Activist Investor Starboard Urges Macy’s to Strike Real-Estate Deal, reports WSJ
- 10AM: Labor Market Condition Index
- 12:40PM EST: Atlanta Fed's Lockhart speaks on "The Economic Outlook"
- 7:50PM EST: Dallas Fed's Kaplan speaks on "Economic Conditions and Monetary Policy"
- APOL: FQ1 EPS of $0.29 misses by $0.02: revenue of $58602M misses by $24.4M: revenue -18.0% y/y
- SHLM: FQ1 EPS of $0.50 misses by $0.11: revenue of $649.22M misses by $23.38M: revenue +5.6% y/y
- AA, LMNR, TISI, VOXX
UPGRADES:
- MLNX: upgrade: market perform to outperform: Credit Suisse: $50
- SAFM: upgrade: neutral to overweight: pt raised from $81 to $89: JP Morgan
- OC: upgrade: sector perform to outperform: RBC Capital: pt raised from $52 to $53
- AAPL: upgrade: neutral to buy: Mizuho: pt cut from $125 to $120
- PLCE: upgrade: equal weight to overweight: Morgan Stanley: $89
- BK: upgrade: neutral to conviction buy: Goldman Sachs
- GD: upgrade: market perform to outperform: Cowen
- OKE: upgrade: hold to buy: Argus: $27
- AZUR: downgrade: outperform to market perform: FBR Capital: pt cut from $15 to $3.25
- NGL: downgrade: buy to hold: Wunderlich: pt cut from $24 to $15
- TDW: downgrade: outperform to market perform: Cowen: pt cut from $20 to $6.50
- HOS: downgrade: outperform to market perform: Cowen: pt cut from $25 to $8.50
- ATW: downgrade: outperform to market perform: Cowen: pt cut from $18 to $10
- UA: downgrade: equal weight to underweight: Morgan Stanley: pt cut from $103 to $62
- VFC: downgrade: equal weight to underweight: Morgan Stanley
- JNS: downgrade: buy to neutral: Goldman Sachs:
- HSY: downgrade: overweight to neutral: pt cut from $97 to $89: JP Morgan
- APAM: downgrade: buy to neutral: Goldman Sachs:
- AEO: downgrade: outperform to market perform: Telsey Advisory: $16
- CUDA: downgrade: buy to in-line: Imperial Capital: $12
- GWW: downgrade: equal weight to underweight: Morgan Stanley: $189
- WSM: downgrade: outperform to neutral: Wedbush: pt cut from $70 to $54
- ABIL: initiated: outperform: FBR Capital: $15
- BECN: initiated: neutral: Citigroup: $42
- CMRE: initiated: equal weight: Barclays: $11
- TNK: initiated: overweight: Barclays: $10
- ITW: initiated: equal weight: Barclays: $92
- FIS: assumed: buy: Citigroup: $68
- KBH: initiated: neutral: Citigroup: $11
PRICE TARGET CHANGES:
- AEO: pt raised from $20 to $22: Wolfe Research
- TMO: pt raised from $150 to $158: Stifel
- PEG: pt cut from $50 to $45: Argus
- SYRG: pt cut from $16 to $15: Wunderlich
- GPS: pt cut from $26 to $23: RBC Capital
- SVU: pt cut from $9 to $8: RBC Capital
- HPT: pt cut from $27 to $26: RBC Capital
- WMS: pt cut from $35 to $30: RBC Capital
- PSMT: pt cut from $100 to $85: Roth Capital
- FLML: pt cut from $21 to $17.50: Roth Capital
- TTMI: pt cut from $11 to $9.50: Stifel
- ST: pt cut from $54 to $50: Stifel
- VAC: pt cut from $82 to $70: Stifel
- GSM: pt cut from $23 to $20: Stifel
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