US futures point to a strong opening as equities around the world trade in the green. The Shanghai surged 2.3% after China announces removal of the country's chief stocks regulator. Giving support to the markets, crude prices rebounded, moving higher following steep losses on Friday with US crude moving back above $30 after a fall in US rig count, reports of upcoming shale bankruptcies, challenges of Iran retiring to the global marks and more support for an oil freeze from OPEC countries.
NEWS:
- APC: CLR: HES: MUR: SWN: WED: cut to junk by Moody's
- NFG: NBL: cut to Baa3 by Moody's (this is one notch above junk)
- GRPN: rumors circulate that Alibaba might buy a bigger stake or even mount a takeover big for Groupon
- TRVN: Jefferies out positive on the stock into Q2 on TRV027 phase lib trial
- DGI: has formed a joint venture with two Saudi firms to form satellite venture
- YHOO: Yahoo approaching potential buyers as soon as today, reports Bloomberg
- PFE: FDA approves expanded use of break cancer drug, IBRANCE
- AN: announces an authorization of an additional $250M to buyback
- CSOD: Praesidium Investment discloses a 6% stake in the company
- FB: Facebook creates "social virtual reality: team, reports Financial Times
- NTRI: added to B Riley's "Focus List"
- FLWS: removed from B Riley's "Focus List"
- MSTX: complete patient enrollment for it's phase 3 EPIC study
- IMAX: IMAX and Pathe plans announces 5 theatre agreement in Switzerland and France
- SNY: announces that the FDA has accepted NDA for Insulin Glargine, Lixedenatide combo
- AMGN: UCB announces that FRAME study met all primary endpoints, however one secondary endpoint was not met
- LL: CDC rules that the cancer risk with Lumber Liquidators flooring is higher than reported
- KTOS: announces $37M DofD contract for AFSAT peculiar spares
- BMY: announces 91% success in phase trial of hep C drug regimen
- HSBC: SEC investigating HSBC over Asia hiring practices
- BABA: China suspends Alibaba Health-run online drug monitoring platform, reports Fortune
- SYF: Synchrony, a growing credit card powerhouse, could grow 40% this year, reports Lawrence Strauss
- BABA: SIG: HGC: Analysts Herb Greenberg and Donn Vickrey make the case against Alibaba, Signet Jewelers and Home Capital Group, writes Bill Alpert
- PDCO: Could see big gains in its dental and veterinary supplies units, reports David Englander
- 8:30AM: Chicago Fed National Activity Index
- 9:45AM: PMI Manufacturing Index Flash
- EVHC: Q4 EPS of $0.35 in-line: revenue of $1.48B beats by $30M: revenue +27.6% y/y: guides FY16 adjusted EPS $1.31-$1.51 vs consensus $1.49
- DF: Q4 EPS of $0.36 beats by $0.02: revenue of $2.02B misses by $50M: revenue -15.8% y/y: solid guidance
- KOS: Q4 EPS of $0.40 beats by $0.09: revenue of $121.89M misses by $46.03M: revenue -31.6 % y/y: guides FY16 CapEx $650M, down 20% y/y
- VLRS: Q4 EPS of $0.38 beats by $0.11: revenue of $296M beats by $38.29M: revenue +10.0% y/y
- I: Q4 EPS of $0.55 may not be comparable to consensus of $0.36: revenue of $571.26M misses by $4.62M: revenue -7.7% y/y: guides FY16 revenue below consensus
- AGN: Q4 EPS of $3.41 beats by $0.07: revenue of $4.2B beats by $10M: revenue +73.6% y/y: guides FY16 revenue $17B vs consensus $17.66B: Botox revenue rises
- IPXL: Q4 EPS of $0.62 beats by $0.16: revenue of $282.1M beats by $59.26M: revenue +115.% y/y:
- ACC, CHMT, CRZO, DDDS, DEPO, FIT, HLX, HURN, IPSH, IVR, LNT, MDR, MIC, MRC, MSI, NDSN, NLS, OKE, OKS, ONDK, PEB, PSIX, QTS, QUAD, RAIL, ROG, SGY, SHO, SPN, THC, TMH, VECO, VVC
UPGRADES:
- CBRL: upgrade: market perform to outperform: Telsey Advisory: $160
- SMI: upgrade: neutral to overweight; JP Morgan
- IMAX: upgrade: market perform to outperform: Wedbush: $38
- SJW: upgrade: neutral to outperform: Baird: pt raised from $35 to $39
- FRC: upgrade: hold to buy: Jefferies: $70
- WCG: upgrade: underperform to neutral: BofA/Merrill: pt raised from $70 to $90
- CSX: upgrade: neutral to buy: BofA/Merrill: $28
- SWFT: upgrade: neutral to buy: BofA/Merrill: $21
- KNX: upgrade: neutral to buy: BofA/Merrill: pt raised from $24 to $28
- WERN: upgrade: underperform to neutral: BofA/Merrill: pt raised from $25 to $28
- STBA: upgrade: neutral to outpeform: Boenning & Scattergood: $30.50
- CREE: upgrade: neutral to overweight: Piper Jaffray: pt raised from $27 to $37
- GWR: upgrade: underperform to neutral: BofA/Merrill: $60
- HR: downgrade: buy to neutral: Mizuho: $29
- ESRX: downgrade: hold to sell: Deutsche Bank: pt cut from $93 to $61
- LNKD: downgrade: conviction buy to buy: Goldman: pt cut from $200 to $155
- GPOR: downgrade: buy to neutral: Euro Pacific
- FLS: downgrade: buy to hold: Maxim Group: pt cut from $48 to $45
- PRGO: downgrade: neutral to sell: Goldman: pt cut from $160 to $124
- SF: downgrade: neutral to underperform: Credit Suisse: pt cut from $44 to $27
- TRIP: downgrade: hold to sell: Stifel: $53
- EXPE: downgrade: hold to sell: Stifel: $95
- ARII: downgrade: hold to underweight; BB&T
- CCC: downgrade: buy to hold: BB&T:
- DLNG: downgrade: buy to hold: Deutsche Bank: $9
- EPE: downgrade: outperform to market perform: Northland: pt cut from $10 to $2
- BAS: downgrade: market perform to underperform: Raymond James
- HPE: initiated: neutral: Macquarie: $13
- JCP: initiated: market perform: Cowen: $8
- EQIX: pt raised from $325 to $345: RBC Capital
- PEG: pt raised from $45-46 range to $49-51: Wells Fargo
- PWN: pt raised from $68to $69: RBC Capital
- FLS: pt raised from $33 to $35: RBC Capital
- CBRL: pt raised from $150 to $155: Maxim Group
- AMCX: pt cut from $79 to $71: Topeka Capital
- VFC: pt cut from $75 to $70: Telsey Advsiory
- DUK: pt cut from $75 to $72: Mizuho
- TRN: pt cut from $31 to $21: Cowen
- CAA: pt cut from $44 to $32: FBR Capital
- DNR: pt cut from $2.50 to $1.50: RBC Capital
- HT: pt cut from $26 to $24: RBC Capital
- NMBL: pt cut from $16 to $8: RBC Capital
- LHO: pt cut from $32 to $28: RBC Capital
- HCN: pt cut from $73 to $70: RBC Capital
- CMRX: pt cut from $14 to $7: Janney Capital
- TRN: pt cut from $27 to $20: Stifel
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