US futures jumping into the global rally with Europe posting its strongest day in 3 weeks after Draghi hinted that March could see more easing. Crude also joining the party after energy ministers from Saudi Arabia, Venezuela, Russia and Qatar agreed to freeze crude production at January levels (the caveat is that "only if other major oil nations follow suit") And just to add fuel to the bull rally, after a week holiday, China reported over the weekend that retail sales rose 11% during the key Golden Week holiday period. Traders are likely to key an eye on the Empire State Manufacturing Index to be announced this morning at 8:30AM EST. Analysts are looking for a -12 reading, from -19.4 in January, which was the lowest since March 2009.
NEWS:
- MAT: Mattel unveils ThingMaker, a $300 3D printer that lets you design and create your own toys, reports The Verge
- GRPN: Alibaba is the fourth largest stakeholder in Groupon, Forbes questions if there is a possible buyout here
- CSIQ: guides Q4 module shipments of 1.35GW-1.4GW, raised from 1.3GW-1.35GW: revenue guidance raised to $1.02B-$1.07B from $930M-$980M
- GE: explores oil and gas business in Iran with top executive visit, reports reuters
- MRK: FDA rejects Merck's ZETIA/VYTORIN sNDA for claim of lower risk of CV events
- BP: expands scope of $16B Khazzan gas field project in Oman
- AAPL: Apple Pay to launch in China on February 18, reports reuters
- JWN: launches Nordstrom Rack in Canada, opening the first store in Toronto
- SYK: announces agreement to buy Physio-Control International in a $1.28B deal: raises FY16 adjusted EPS guidance to $5.57-$5.77 from $5.55-$5.75
- LOW: TGT: JP Morgan removes Target and adds Lowe's to its "Focus List"
- BMY: Bristol-Myers' cancer drug could push the stock 25% higher, reports Sandra Ward
- KEY: KeyCorp:An overlooked banking bargain, could jump 30% over the next year, reports Jack Hough
- CORE: Core-Mark stock looks vulnerable, reports Bill Alpert
- UA: NKE: Under Armour's CEO is bent on beating Nike in the sports apparel game, reports Crystal Kim
- CSCO: Cisco, why it suddenly looks like a winner, reports Tiernan Ray
- CUB: ESL: Cubic Corp and Esterline are both poised to rebound, reports David Englander
- 8:30AM: Empire State Manufacturing Index
- 9AM: Fed's Harker Speaks on his "2016 Economic Forecast"
- 10AM: NAHB Housing Market Index
- 10:30AM: Fed's Kashkari Speaks on "Lessons Learned from the Financial Crisis"
- 4PM: Treasury International Capital
- 7:30PM Fed's Rosengren speaks on "Economic Outlook"
- QSR: Q4 EPS of $0.35 beats by $0.05: revenue of $1.06B beats by $30M: revenue -3.6% y/y:
- BXLT: Q4 EPS of $0.57 beats by $0.02: revenue of $1.76B beats by $50M: revenue +4.8% y/y: guides Q1 adjusted EPS below consensus
- HRL: FQ1 EPS of $0.43 beats by $0.06: revenue of $2.29B misses by $100M: revenue -4.6% y/y: raises FY16 EPS guidance to $1.50-$1.56 from $1.43-$1.46 vs consensus $1.57
- ZTS: Q4 EPS of $0.43 beats by $0.04: revenue of $1.27B beats by $20M: revenue -3.8% y/y: guides FY16 adjusted EPS of $1.71-$1.81 vs consensus $1.81: cuts sales outlook
- BBW: Q4 EPS of $0.62 beats by $0.09: revenue of $117.6M misses by $0.12M: revenue -10.5% y/y
- BEBE: FQ2 EPS of -$0.05 beats by $0.01: revenue of $122.4M beats by $11.55M: revenue -5.1% y/y: guidance will be halted until the company has increased it visibility on its turnaround plan
- SONS: Q4 EPS of $0.23 beats by $0.03: revenue of $76.3M beats by $2.39M: revenue -0.7% y/y: guides FY16 adjusted EPS $0.20-$0.27 vs consensus $0.24
- YNDX: Q$ adjusted net income of RUB3.63B: revenue of RUB18.09B beats by RUB 130M: revenue +23.3% y/y
- GNRC: Q4 EPS of $0-.97 beats by $0.08: revenue of $357.8M beats by $11.2M: revenue -11.4% y/y: guides FY16 sales growth of +10%-12%
- SCCO: Q4 EPS of $0.08 misses by $0.11: revenue of $1.25B beats by $20M: revenue -15.0% y/y (reported on 02/14)
- A, BXMT, CAKE, CERN, CSV, CVA, DAC, DVN, EFC, EXRX, FE, FOSL, FTI, HR, HSTM, HT, HTS, LPI, MEP, MXWL, NBR, NP, PSA, RAX, SAAS, TEX, TTOO, VDSI, VNO, WRI, WTS, XEC, ZEN
UPGRADES:
- PG: upgrade: neutral to buy: Sterne Agee: $90
- AXTA: upgrade: hold to buy: Jefferies: $29
- PANW: upgrade: neutral to buy: DA Davidson: $186
- GS: upgrade: underweight to overweight: JP Morgan: pt raised from $170 to $180
- QCOM: upgrade: market perform to outperform: Bernstein
- AZO: upgrade; neutral to outperform: Wedbush: pt raised from $775 to $800
- COMM: upgrade: market perform to outperform: Raymond James: $24
- MU: upgrade: neutral to buy: Mizuho: $12
- REGN: upgrade: sell to neutral: Chardan Capital: pt cut from $400 to $375
- NSP: upgrade: equal weight to overweight: First Analysis : $58
- SCHW: upgrade: underperform to outperform: CLSA (that's a double upgrade)
- BMRN: upgrade: hold to buy: Stifel: $105
- TOT: upgrade: market perform to outperform: Bernstein
- CYS: upgrade; market perform to outperform: JMP Securities
- UNVR: upgrade: equal weight to overweight: Barclays: pt cut from $23 to $18
- DISH: upgrade: underweight to equal weight: Barclays: pt cut from $62 to $59
- TTM: upgrade: sell to neutral: Goldman:
- DG: upgrade: equal weight to overweight: Morgan Stanley: pt raised from $80 to $95
- DLTR: upgrade: underweight to equal weight: Morgan Stanley: pt raised from $65 to $90
- H: upgrade: equal weight to overweight: Morgan Stanley
- SKT: upgrade: neutral to buy: Citi
- FLO: upgrade: hold to buy: BB&T: $19
- ATVI: upgrade: neutral to buy: Hilliard Lyon
- WD: upgrade: equal weight to overweight: Morgan Stanley: $31
- GDOT: upgrade: neutral to buy: BTIG: $23
- LPLA: upgrade: neutral to outperform: Credit Suisse: pt cut from $28 to $24
- MS: upgrade: neutral to overweight: JP Morgan: pt cut from $33 to $29
- O: downgrade: hold to sell: Wunderlich: pt raised from $47.50 to $53
- KYN: downgrade: buy to neutral: Ladenburg: pt cut from $45 to $33
- SUNE: downgrade: buy to neutral: BofA/Merrill: $2.50
- POR: downgrade: overweight to sector weight: KeyBanc
- CC: downgrade: buy to hold: Jefferies: $4.50
- KWR: downgrade: buy to hold: Jefferies:
- POL: downgrade: buy to hold: Jefferies: pt cut from $47 to $26
- MOS: downgrade: buy to sell: Societe Generale
- BWA: downgrade: buy to neutral: Sterne Agee: $40
- CYH: downgrade: buy to hold: Jefferies
- CYH: downgrade: outperform to market perform: Avondale
- CYH: downgrade: neutral to underperform: Mizuho: pt cut from $25 to $14.50
- PHG: downgrade: hold to underperform: Jefferies
- CELP: downgrade: outperform to neutral: Baird: pt cut from $13 to $6
- BTU: downgrade: hold to underweight: BBT:
- SHO: downgrade: overweight to equal weight: Morgan Stanley: pt cut from $14 to $13
- CS: downgrade overweight to neutral: JP Morgan
- AVGO: resumed: overweight: JP Morgan: $170
- AVGO: initiated: hold: Topeka Capital: $130
- KTOV: initiated: buy: Rodman & Renshaw: $10
- VRX: initiated: buy: Rodman & Renshaw: $150
- FNV: initiated: buy: Clarksons Platou: $67
- BKH: pt raised from $55 to $59: RBC Capital
- COR: pt raised from $64 to $70: RBC Capital
- EBAY: pt cut from $34 to $30: Axiom Capital
- SPLK: pt cut from $78 to $35: Piper Jaffray
- MSFT: pt cut from $66 to $62: Piper Jaffray
- N: pt cut from $72 to $40: Piper Jaffray
- ORCL: pt cut from $46 to $43: Piper Jaffray
- RHT: pt cut from $95 to $78: Piper Jaffray
- VMW: pt cut from $65 to $55: Piper Jaffray
- FET: pt cut from $15 to $11: Cowen
- BRS: pt cut from $41 to $16: Cowen
- AXL: pt cut from $19 to !7: RBC Capital
- WEB: pt cut from $25 to $23: RBC Capital
- NMBL: pt cut from $9 to $6.50: DA Davidson
- LPNT: pt cut from $96 to $84: RBC Capital
- LPNT: pt cut from $74 to $59: Mizuho
- CPN: pt cut from $21 to $20: RBC Capital
- LXFT: pt cut from $84 to $65: UBS
- DRI: pt cut from $73 to $70: Maxim Group
- EGN: pt cut from $49 to $47: Wunderlich
- ALNY: pt cut from $152 to $120: Leerink
- INCY: pt cut from $118 to $94: Leerink
- PANW: pt cut from $225 to $163: Stephens
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