US futures follow green arrows around the world with crude rallying above $30/bbl as a cold front blankets the US and Europe. Traders will remain cautious on news that US oil stockpiles have increased and the ever present fears of a continuing glut of crude around the world as Iran readies to flood the market with their oil. Baker-Hughes rig count set to be announced at 1PM EST. European markets find support on Mario Draghi's hint of more stimulus on inflation fears.
NEWS:
- SAP: raises outlook targets for 2017
- AMGN: the FDA approves combo treatment involving Amgen's Kyprolis
- AMGN: Repatha approved in Japan
- POT: Potash Corp mine closure may shelve Canpotex port plans, reports reuters
- AMZN: steps up European expansion plan, reports FT
- FB: Oppenheimer comes out positive on the company into earnings
- CMG: Chipotle tried to cover up food-borne illness outbreak, reports Time
- QRVO: Qorvo awarded major Samsung Galaxy S7 design, reports OTR Global
- HAIN: announces resignation of Chief Accounting Officer
- AAPL: Piper Jaffray out positive on Apple into the iPhone 7 launch, sees possible 50% upside by September: keeps overweight ratio and $179 pt
- GLNG: announces cooperative agreement with Schlumberger on the global development of greenfield, brownfield and stranded gas reserves
- SBUX: Piper out positive on the company, reiterating the stock as a "top pick"
- 8:30AM: Chicago Fed National Activity Index
- 9:45AM: PMI Manufacturing Index Flash
- 10AM: Existing Home Sales
- 10AM: Leading Indicators
- 1PM: Baker-Hughes Rig Count
- AXP: Q4 EPS of $1.23 beats by $0.10: revenue of $8.39B beats by $50M: revenue -7.6% y/y: solid guidance
- ISRG: Q4 EPS of $5.89 beats by $0.85: revenue of $676.5M beats by $21.18M: revenue 12.6% y/y
- MXIM: FQ2 EPS of $0.32 in-line: revenue of $510.83M beats by $5.75M: revenue -9.9% y/y: guides EPS below consensus
- RMD:FQ2 EPS of $0.69 beats by $0.03: revenue of $454.5M beats of $8.2M: revenue +7.5% y/y
- SBUX: FQ1 EPS of $0.46 beats by $0.01: revenue of $5.3B misses by $20M: revenue +11.9% y/y: quides Q2 below estimates
- SLB: Q4 EPS of $0.65 beats by $0.02: revenue of $7.74B misses by $60M: revenue -38/8% y/y
- WAL: Q4 EPS of $0.57 beats by $0.03: revenue of $152.82 misses by $6.06M: revenue
+38.2% y/y
- BID: estimates it will report revenue of $331M-$333M for Q4 beats $318M consensus: expects to report EPS of $1.11-$1.17 beats $0.84 consensus: announces elimination of dividend
- CFG: Q4 EPS of $0.42 in-line: revenue of $1.23B beats by $10M: revenue +4.2% y/y
- COL: FQ1 EPS of $1.21 may not be comparable to consensus of $1.00: revenue of $1.17B misses by $50M: revenue -4.9% y/y
- GE: Q4 EPS of $0.52 beats by $0.03: revenue of $30.29B: revenue -3.6% y/y: earnings fall in core industrial business
- LM:Q4 adjusted EPS of $1.45 may not be comparable to $0.75: revenue of $659.56 misses by $23.97M: revenue -8.3% y/y
- STI: Q4 EPS of $0.91 beats by $0.04: revenue of $2.05B beats by $10M: revenue +0.5% y/y
- SYF: Q4 EPS Of $0.65 beats by $0.02: net interest income of $3.21B in-line:
UPGRADES:
- CA: upgrade: neutral to buy: Mizuho: pt cut from $30 to $29
- JD: upgrade: neutral to buy: Nomura: pt raised from $27 to $35
- QCOM: upgrade: market perform to outperform: Northland: $62.50
- AVP: upgrade: neutral to overweight: Piper Jaffray: $8
- ACAD: upgrade: neutral to oveweight: Piper Jaffray: $39
- AVT: upgrade: neutral to buy: Longbow: $48
- LNC: upgrade: outperform to strong buy: Raymond James: $55
- MET: upgrade: market perform to strong buy: Raymond James: $56
- BMY: upgrade: hold to buy: Barenberg: $77
- CP: upgrade: sector perform to outperform: RBC Capital: pt cut from $189 to $179
- COLM: upgrade: neutral to outperform: Baird: pt cut from $72 to $60
- MAS: upgrade: neutral to outperform: Baird: $30
- RCKY: downgrade: outperform to neutral: Baird: pt cut from $16 to $11
- BIDU: downgrade: buy to neutral: Nomura: pt cut from $200 to $180
- SKX: downgrade: positive to neutral: Susquehanna: $30
- CNX: downgrade: overweight to equal weight: Morgan Stanley
- FELP: downgrade: overweight to equal weight: Morgan Stanley: $12
- OKE: downgrade: outperform to perform: Oppenheimer: $27
- RAS: initiated: outperform: FBR Capital: $3.50
- CVS: initiated: outperform: Baird: $108
- WBA: initiated: outperform: Baird: $96
- CTRP: initiated: buy: Nomura: $50
- CGNX: initiated: outperform: Raymond James: $36
- ISRG: pt raised from $525 to $550: Piper Jaffray
- ISRG: pt raised fro $600 to $620: Evercore
- ISRG: pt raised from $600 to $640: Stifel
- COH: pt raised from $32 to $34: Mizuho
- BC: pt raised from $49 to $51: RBC Capital
- WBX: pt cut from $38 to $35: RBC Capital
- UNP: pt cut from $93 to $82: RBC Capital
- UNP: pt cut from $95 to $78: Stifel
- TRV: pt cut from $120 to $118: RBC Capital
- RKUS: pt cut from $14 to $12: RBC Capital
- HBAN: pt cut from $13 to $12: RBC Capital
- HBAN: pt cut from $13 to $10.50: FBR Capital
- CP: pt cut from $147 to !42: Cowen
- UHS: pt cut from $166 to $140: Miuzho
- UAL: pt cut from $80 to $65: Cowen
- FEYE: pt cut from $32 to $25: Imperial Capital
- KATE: pt cut from $30 to $25: Mizuho
- KORS: pt cut from $42 to $40: Mizuho
- NOW: pt cut from $100 to $90: Mizuho
- KEY: pt cut from $15 to $12.50: FBR Capital
- MTG: pt cut from $11 to $7: FBR Capital
- MRK: pt cut from $67 to $58: Leerink
- MXIM: pt cut from $45 to $40: Stifel
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