US futures point to a muted higher opening at this hour as earnings season take off with AA reporting last night and traders cautious in a volatile market. Overnight, crude oil flirted with the $30 level before finding support and attempting an ill fated rally.
NEWS:
- MCD: MacDonalds faces EU antitrust complaint, reports the WSJ
- CMG: Chipotle to present at ICR Conference on 01.13.2016 at 1:30PM EST
- MYL: files ANDA for generic version of GlaxoSmithKline's Advair Diskus
- APOL: is in "advanced" talks to buy the education group for about $1B
- PODD: Insulet announces agreement with Lilly to develop new version of OmniPod to deliver Humalog U200
- SKUL: guides Q4 EPS $0.25-0.27 vs consensus $0.37
- LULU: guides FQ4 revenue higher, above consensus: guides FQ4 EPS higher, inline with consensus
- MDT: lowers guidance
- HAIN: lowers FY16 EPS guidance to $1.95-$2.10 from $2.11-$2.26 vs. consensus $2.14
- CHRS: BXLT: AMGN:Coherus and Baxalta's biosimilar matches Amgen's Enbrel in late state RA study
THE ECONOMIC CALENDAR:
- 6AM: NFIB Small Business Optimism Index
- 8:55AM: Redbook Chain Store Sales
- 10AM: Job Openings and Labor Turnover Survey
- 1PM: $24B 3 Year Note Auction
- 3:15PM: Fed's Lacker Speaks on "Economic Outlook"
NOTABLE EARNINGS REPORTED AFTER THE CLOSE YESTERDAY:
- AA: Q4 EPS of $0.04 beats by $0.02: revenue of $5.25B misses by $40M: revenue -17.7% y/y
- HABT: FQ4 EPS of $0.04 in-line: revenue of $60.6M beats by $0.57M: revenue +25.3% y/y
- IHS: Q4 EPS of $1.68 beats by $0.12: revenue of $588.68M misses by $10.7M: revenue +1.1% y/y
SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE CLOSE TODAY:
- CSX, PRGS
ANALYSTS' RATINGS CHANGES:
UPGRADES:
- AAPL: upgrade: neutral to buy: BofA/Merrill: $130
- CIEN: upgrade: equal weight to overweight: Morgan Stanley: $23
- KO: upgrade: hold to buy: Stifel: $54
- DF: upgrade: equal weight to overweight: Stephens: $22
- DWA: upgrade: market perform to outperform: FBR Capital: pt raised from $22 to $29
- INTC: upgrade: neutral to buy: Mizuho: $37
- FIS: upgrade: market perform to outperform: Wells Fargo: pt range raised from $66-68 to $69-71
- EVR: upgrade: buy to conviction buy: Goldman: pt raised from $56 to $64
- SF: upgrade: sell to buy: Goldman
- RARE: upgrade: sell to neutral: Citi: pt raised from $88 to $89
- STI: upgrade: neutral to buy: BofA/Merrill
DOWNGRADES:
- FFIV: downgrade: buy to hold: Deutsche Bank: pt cut from $140 to $100
- LAZ: downgrade: buy to neutral: Goldman
- BHP: downgrade: equal weight to underweight: Barclays
- KNOP: downgrade: buy to neutral: Citi: pt cut from $19 to $14
- MJN: downgrade: buy to neutral: Mizuho
- BIN: downgrade: outperform to in-line: Imperial Capital: $27.50
- FB: downgrade: neutral to underperform: BofA/Merrill
- WES: downgrade: buy to neutral: BofA/Merrill
- OXY: downgrade: buy to hold: Jefferies:
INITIATIONS:
- PE: initiated: buy: Topeka Capital: $24
- WTFC: initiated: overweight: Stephens: $56
- INTC: reinstated: overweight: JP Morgan
PRICE TARGET CHANGES:
- TXN: pt cut from $60 to $58: RBC Capital
- SHPG: pt cut from $248 to $240: RBC Capital
- SHPG: pt cut from $248 to $210: Blair
- SGNT: pt cut from $34 to $28: RBC Capital
- RBA: pt cut from $32 to $28: RBC Capital
- PXD: pt cut from $178 to $145: Wunderlich
- ASNA: pt cut from $16 to $13: Telsey Advisory
- CNK: pt cut from $46 to $45: Topeka Capital
- EVHC: pt cut from $42 to $38: RBC Capital
- MXIM: pt cut from $40 to $35: RBC Capital
- MCK: pt cut from $220 to $190: RBC Capital
- MCK; pt cut from $260 to $235: UBS
- SHOO; pt cut from $29 to $38: Telsey Advisory
- SKUL: pt cut from $9 to $7: Wunderlich
- SKUL: pt cut from $10 to $5.50: Roth Capital
- IACI; pt cut from $95 to $84: Axiom Capital
- HAIN: pt cut from $55 to $47: Canaccord
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