Housing Data | Morning News

FEBRUARY 23, 2016
US futures struggling along the flat line at this 7AM hour after most global markets traded overnight in the red. Besides the ever volatile oil market, traders will look to housing data today, as TOL reports before the opening and key readings will be on tap including existing home sales as well as the Case-Shiller home price index.

NEWS:

• COG files to sell 38M shares of common stock, priced at $20
• GOOG: GOOGL: announces plans to halt Google Compare
• TMUS: announces CIO will step down
• SFLY: reports that private equity firm is interested in purchasing the company
• XOM: COP: Wells Fargo out positive on the companies, naming them "Top Pick"
• TMO: offers EUROIMMUN Anti-Zika virus test kits, reports business wire
• PTCT: receives refuse to file letter from FDA for Translarna
• MBLY: enters new autonomous driving tech partnership with Nissan
• CSCO: announces  5 year contract with Saudi company Mobily

THE ECONOMIC CALENDAR:

• 8:55AM: Redbook Chain Store Sales
• 9AM: S&P Case-Shiller Home Price Index
• 10AM: Consumer Confidence
• 10AM: State Street Investor Confidence Index
• 10AM: Richmond Fed Manufacturing
• 10AM: Existing Home Sales
• 1PM: $26B, 2 Year Note Auction
• 8:30PM: Fed's Fischer speaks on "Monetary Policy"

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

• MDR:Q4 EPS of $0.06 beats by $0.17: revenue of $667.4M misses by $90.42M: revenue -17.2% y/y:  mixed guidance
• FIT: Q4 EPS of $0.35 beats by $0.10: revenue of $711.6M bats by $63.78M: revenue +92.2% y/y: guides Q1 adjusted EPS $0.00-$0.02 vs consensus $0.24: guides FY16 in-line
• DEPO: Q4 EPS of $0.16 misses by $0.13: revenue of $111.2M beats by $0.96: revenue -42.9% y/y: guides revenue in-line
• THC: Q4 EPS of $0.35 beats by $0.01: revenue of $5.03B beats by $210M: revenue +12.5 %y/y: guides FY16 adjusted EPS $1.18-$2.25 vs consensus $2.15
• VVC: Q4 EPS of $0.79 beats by $0.09: revenue of $604M misses by $91.24M: revenue +10.8% y/y: reaffirms FY16 EPS guidance $2.45-$2.65 vs consensus $2.53
• MSI: Q4 EPS of $1.58 beats by $0.16: revenue of $1.69B in-line: revenue -7.7% y/y: guides Q1mixed: guides FY16 above consensus
• ROG: Q4 EPS of $0.69 beats by $0.14: revenue of $152.9M beats by $7.85M; revenue +3.5% y/y:  guides EPS above consensus
• TMH: Q4 EPS of $0.61 misses by $0.01: revenue of $979.6M misses by $3.67M: revenue +23.9% y/y: strong guidance
• TXRH: Q4 EPS of $0.32 beats by $0.02: revenue of $454.35M in-line: revenue +12.3% y/y: guides FY16 CapEx $165M-$175M: views positive comparable sales growth for FY16: raises quarterly dividend 12% to $0.19/share
• LNT: Q4 EPS of $0.31 misses by $0.12: revenue of $740.1M misses by $114.41M: revenue -8.0% y/y: guides FY16 EPS $3.60-$3.90 vs consensus $3.78
• QUAD: Q4 EPS of $0.64 beats by $0.17: revenue of $133B beats by $30M: revenue -6.3% y/y:  reaffirms FY16 revenue guidance of $4.4B-$4.6B vs consensus $4.45B
• MRC: Q4 EPS of $0.12 beats by $0.10: revenue of $967M beats by $9.91M: revenue -36.0% y/y
• SPN: Q4 EPS Of -$0.41 beats by $0.10: revenue of $545.15M misses by $5.6M: revenue -53.8% y/y: guides FY16 CapEx "significantly" lower from FY15 levels

SOME NOTABLE EARNING REPORTED TODAY BEFORE THE OPENING:

• HD: Q4 EPS of $1.17 beats by $0.07: revenue of $21B beats by $6120M: revenue +9.6% y/y: guides FY16 EPS $6.12-$6.18 vs consensus $6.16: guides FY16 revenue growth in 5-6% range: raises dividend 16.9% to $0.69/share
• M: Q4 EPS of $2.09 beats by $0.20: revenue of $8.9B beats by %70M: revenue -4.9% y/y: guides FY16 EPS $3.80-$3.90 vs consensus $3.83
• FDP: Q4 EPS of -$0.11 miss by $0.15: revenue of $977.9M beats by $46.05M: revenue +5.2% y/y
• SJM: FQ3 EPS of $1.76 beats by $0.12: revenue of $1.97B misses by $80M: revenue +36.8% y/y: raises FY16 adjusted non_GAAP EPS
• STAY: Q4 EPS of $0.15 beats by $0.02: revenue of $286.34M beats by $3.41M: revenue +4.8% y/y: guides FY16 revenue in-line
• ODP: Q4 EPS of $0.07 misses by $0.04: revenue of $3.4B misses by $80M: revenue -9.1% y/y: soft FY16 guidance
• BMO: FQ1 EPS of$1.75 beats by $0.03: revenue of $5.08B beats by $200M: revenue +0.4% y/y
• CBRL: FQ2 EPS of $1.91 in-line: revenue of $764M misses by $2.71M: revenue +1.1% y/y: guides FQ3 EPS above consensus: raises FY16 adjusted EPS
• SNI: Q4 EPS of $1.35 beats by $0.34: revenue of $851.75M beats by $13.76M; revenue +27.3% y/y
• WWW: Q4 EPS of $0.17 misses by $0.01: revenue of $58.28M beats by $1.19M: revenue +56.28% y/y: guides FY16 adjusted EPS and revenue below consensus 
• AAC: guide FY16 adjusted EPS $0.95-$1.03 vs consensus $0.99
• VSI: Q4 EPS of $0.39 beats by $0.01: revenue of $293.5M miss by $0.67M: revenue +1.2% y/y: guides FY16 EPS $2.25-$2.45 vs consensus $2.35
• ICLR: Q4 EPS of $1.11 beats by $0.01: revenue of $403.35M miss by $6.07M: revenue +3.4% y/y:guides FY16 EPS $4.60-$4.80 vs consensus $4.68
• EXLS:Q4 EPS of $0.56 beats by $0.04: revenue of $165.86M beats by $2.99M: revenue +22.6% y/y:  guides FY16 adjusted EPS and revenue in-line
• TOL: FQ1 EPS of $0.40 misses by $0.01: revenue of $928.6M beats by $13.35M: revenue  +8.8% y/y: announces retirement of co-founder and Vice Chairman Bruce Toll: guides FY16 delivery of home 5700-6400

SOME NOTABLE EARNINGS TO BE  REPORTED TODAY AFTER THE CLOSE:

• ALDR, ARC, CAR, CONE, CPRT, CVG, CZR, DWA, DY, ENPH, ETSY, EXAM, EXR, FIVN, FMI, FSLR, HAWK, HLS, INFI, JAZZ, JBT, KRA, MSA, ORA, PEI, PRA, PZZA, RP, RUBI, SF, SLCA, SM, TGB, TX, VRSK, WBMD, WTR, Y

ANALYSTS' RATINGS CHANGES:

UPGRADES:

• NLY: upgrade: market perform to outperform: FBR Capital: pt raised from $11 to $12
• LNG: upgrade: neutral to buy: Goldman: pt cut from $52 to $46
• HIMX: upgrade: hold to buy: Craig Hallum: pt raised from $8 to $11
• TWTR: upgrade: market perform to outperform: Raymond James: $25
• MYCC: upgrade: underperform to neutral: Macquarie: $10
• ABBV: upgrade: neutral to buy: Citi: $65

DOWNGRADES:

• FIT: downgrade: overweight to neutral: Piper Jaffray: pt cut from $24 to $14
• FIT: downgrade: outperform to neutral: Baird: pt cut from $30 to $16
• FIT: downgrade: outperform to market perform: Leerink: pt cut from $33 to $18
• FIT: downgrade: overweight to sector weight; Pacific Crest
• CMG: downgrade: hold to sell: Deutsche Bank: $400
• SCTY: downgrade: overweight to neutral: JP Morgan: pt cut from $44 to $29
• GWR: downgrade: overweight to equal weight: Morgan Stanley: pt cut from $67 to $58
• LSTR: downgrade: equal weight to underweight: Morgan Stanley: pt cut from $57 to $56
• CMRX: downgrade: equal weight to underweight: Morgan Stanley: pt cut from $8 to $5
• UNP: downgrade: overweight to equal weight: Morgan Stanley: pt cut from $87 to $74
• CSX: downgrade: overweight to underweight: Morgan Stanley: pt cut from $26 to $20
• CCOI: downgrade: overweight to neutral: JP Morgan: $38
• X: downgrade: outperform to market perform: Cowen: pt cut from $30 to $8
• MT: downgrade: outperform to market perform: Cowen
• JONE: downgrade: outperform to in-line: Imperial Capital: pt cut from $7.50 to $1.25
• VLRS: downgrade: outperform to market perform: Cowen: pt raised from $20 to $21
• FCX: downgrade: neutral to sell: Citi
• EXC: downgrade: neutral to sell: Citi
• VRN: downgrade: outperform to underperform: Raymond James
• EVEP: downgradE: neutral to underperform: BofA/Merrill: $1
• MEMP: downgrade: neutral to underperform: BofA/Merrill: $1
• VNR: downgrade: neutral to underperform: BofA/Merrill: $2
• CPPL: downgrade: outperform to neutral: Credit Suisse: $22
• CRC: downgrade: buy to neutral: BofA/Merrill: $2
• AGR: downgrade: buy to neutral: Janney Capital: to cut from $44 to $39
• OREX: downgrade: outperform to market perform: Leerink
• CMRX: downgrade: overweight to equal weight; Barclays: pt cut from $12 to $6
• CMRX: downgrade: buy to neutral: Citigroup: to cut from $13 to $9
• LADR: downgrade; outperform to market perform: Keefe Bruyette: $13
• CERN: downgrade: buy to neutral: Goldman: pt cut from $62 to $54

INITIATIONS:

• IDCC: initiated: buy: B Riley: $65
• OCRX: initiated: buy: Brean Capital: $10
• SEDG: initiated: overweight; JP Morgan: $34
• SALE: initiated: neutral: Wedbush: $7

PRICE TARGET CHANGES:

• TXRH: pt raised from $41 to $42: RBC Capital
• SAVE: pt raised from $46 to $57: Citi
• EDR: pt raised from $42 to $45: Canaccord
• EDR: pt raised from $40 to $43: RBC Capital
• MU: pt raised from $12 to $13: Mizuho
• PDCE: pt raised from $66 to $69: Wunderlich
• KMI: pt raised from $17 to $19: Stifel
• PSIX: pt cut from $23 to $18: Wunderlich
• CMRX: pt cut from $14 to $10: FBR Capital
• DEPO: pt cut from $26 to $24: RBC Capital
• ELGX: pt cut from $15 to $11: RBC Capital
• IPLX: pt cut from $48 to $40: RBC Capital
• CIE: pt cut from $7 to $6: RBC Capital
• PEG: pt cut from $43 to $44: RBC Capital
• POLI: pt cut from $5 to $4: RBC Capitl
• FIT: pt cut from $38 to $20: MIzuho
• ONDK: pt cut from $14 to $11: FBR Capital
• SBRA: pt cut from $26 to $24: FBR Capital
• IPXL: pt cut from $55 to $43: Susquehanna
• BMRN: pt cut from $149 to $120: Leerink
• AGN: pt cut from $396 to $340: Canaccord

Oil Rebounds | Morning News

FEBRUARY 22. 2016
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

IN BARRONS OVER THE WEEKEND:

• 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

THE ECONOMIC CALENDAR:

• 8:30AM: Chicago Fed National Activity Index
• 9:45AM: PMI Manufacturing Index Flash

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

• 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: 

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

• 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

ANALYSTS' RATINGS CHANGES:

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

DOWNGRADES:

• 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

INITIATIONS:

• HPE: initiated: neutral: Macquarie: $13
• JCP: initiated: market perform: Cowen: $8

PRICE TARGET CHANGES:

• 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

Oil Still the Focus | Morning News

FEBRUARY 02, 2016
Despite a stellar earrings beat from heavy-weight Google parent companyAlphabet,  US futures getting hit again as global markets remain under pressure from crude. Apart from auto sales data to be announced throughout the day, a light economic calendar has traders keeping track on oil futures as the commodity remains volatile and OPEC policy change remains uncertain.

NEWS:

• CAMP: LOJN: CalAmp to acquire LoJack for $6.45/share
• TWTR:Leaked Twitter API data shows the number of tweets is in serious decline, reports Business Insider
• AAPL: AMZN: SSNLF: Tablet shipments decline 10.1% in 2015, leades Apple and Samsung both lose market share, reports IDC
• TSLA: Pacific Crest out negative on the stock, lowering estimates and saying that investors should "avoid" the stock
• HNSN: FDA clears Hansen's Robotic Catherter eKit
• JCP: Piper Jaffray out positive on JC Penney, reiterating the company as a "top pick for 2016"

THE ECONOMIC CALENDAR FOR THE DAY:

• VARIOUS TIMES: Auto Sales
• 8:30AM: Gallup US ECI
• 8:55AM: Redbook Chain Store Sales
• 1PM: Fed's George speaks on "Monetary Policy and Economic Policy"

SOME NOTABLE EARNINGS REPORTED YESTERDAY AFTER THE CLOSE:

• PVH: Q3 EPS of $2.66 beats by $0.19: revenue of $2.1B in-line: revenue -3.1% y/y: raises guidance
• GOOG: Q4 EPS of $8.67 beats by $0.58: revenue of $21.33B beats by $560M: revenue +17.8% y/y: paid clicks surge (+31% y/y): gmail tops 1B monthly active users
• MAT: Q4 EPS of $0.67 beats by $0.06: revenue of $2B beats by $90M: revenue +0.5% y/y:
• IDTI: FQ3 EPS of $0.35 in-line: revenue of $177.6M beats by $2.19M: revenue +17.5% y/y
• RCII: Q4 EPS of $0.54 beats by $0.02: revenue of $793.8M misses by $13.36M: revenue -0.4% y/y
• PLT: FQ3 EPS of $0.83 beats by $0.07: revenue of $225.7M misses by $4.91M: revenue -2.6% y/y: guides earnings below estimates
• GGP: Q4 FFO of $0.43 beats by $0.01: revenue of $644.63 beats by $15.36M: revenue -4.2% y/y: guides FY16 FFO below consensus
• APC: Q4 EPS of -$0.57 beats by $0.52: revenue of $2.05B misses by $40M: revenue -35.5% y/y
• HAIN: FQ2 EPS of $0.57 beats by $0.03: revenue of $752.6M beats by $2.58M: revenue +7.3% y/y: reaffirms guidance
• LMNX: Q4 EPS of $0.56 may not be comparable to consensus of $0.15: revenue of $60.4M beat by $0.2M; revenue +3.9% y/y: guides revenue in-line
• FN: FQ2 EPS of $0.50 beats by $0.04: revenue of $233M beats by $12.25M: Revenue +23.7% y/y: guides above consensus
• AFL: Q4 EPS of $1.56 beats by $0.09: revenue of $5.32B beats by $110M: revenue -3.4% y/y: guides in-line
• LEG: Q4 EPS of $0.64 beats by $0.13: revenue of $945M misses by $51.98M: revenue -0.9% y/y: guides revenue below estimates

SOME NOTABLE EARNINGS REPORTED TODAY BEFORE THE OPENING:

• UPS; Q4 EPS of $1.57 beats by $0.15: revenue of $16.05B misses by $230M: revenue +0.9% y/y: guides FY16 EPS $5.70-$5.90 vs consensus $5.73
• XOM: Q4 EPS of $0.67 beats by $0.01: revenue of $59.8B beats by $8.44B: revenue -31.5% y/y
• R: Q4 EPS of $1.72 misses by $0.02: revenue of $1.67B misses by $20M: revenue +0.6% y/y: guides FY16 comparable EPS below estimates
• PNR: Q4 EPS of $1.13 beats by $0.09: revenue of $1.76B beats by $10M: revenue -2.2% y/y: provides mixed guidance: guides Q1adjusted EPS below estimates:guides FY16 adjusted EPS in-line
• SIRI:Q4 EPS of $0.03 in-line: revenue of $1/2B beats by $10M: revenue +10.1% y:y: guides FY16 revenue below consensus
• CHD: Q4 EPS of $0.82 beats by $0.01: revenue of $873.6M beats by $10.1M: revenue +0.9% y/y: guides Q1 adjusted EPS below consensus
• BAX: Q4 EPS of $0.43 beats by $0.11: revenue of $2.6B beats by $50M: revenue -6.8% y/y:guides FY15 ex-itmes above estimates
• PBI: Q4 EPS of $0.48 misses by $0.06: revenue of $936.95M misses by $12.35M: revenue -4.8% y/y: guides FY16 EPS below consensus
• KORS:FQ3 EPS of $1.59 bets by $0.13: revenue of $1.4B beats by $40M: revenue +6.9% y/y:  guides FY16 EPS above estimates: mobile traffic increasing m/m
• PFE: Q4 EPS of $0.53 beats by $0.01: revenue of $14.05B beats by $480M: revenue +7.2% y/y: guides FY16 adjusted EPS below consensus: net income down 50%
• ADM: Q4 EPS of $0.61 misses by $0.05: revenue of $16.45B misses by $3.07B: revenue -21.3% y/y: 

SOME NOTABLE EARNINGS TO BE REPORTED TODAY AFTER THE CLOSE:

• AFG, ATW, BKH, CHRW, CMG, CPHD, DOX, EW, FISV, GILD, ILMN, KIM, MOD, MYGN, NANO, OLN, QGEN, RNR, SLGN, SPA, TDW, TSRA, ULTI, UNM, WRB, YHOO

ANALYSTS' RATINGS CHANGES:

UPGRADES:

• MAT: upgrade: hold to buy: Stifel: $33
• GOL: upgrade: sell to neutral: Goldman: pt raised from $1 to $1.25
• IDTI: upgrade: neutral to outperform: Wedbush: pt raised from $26 to $27
• MS: upgrade: neutral to outperform: Macquarie: $33
• NFLX: upgrade: equal weight to overweight: Piper Jaffray: $122
• KSS: upgrade: neutral to buy: Buckingham
• TJX: upgrade: perform to outperform: BMO Capital: $85

DOWNGRADES:

• TWTR: downgrade: hold to sell: Stifel: $14
• ALR: downgrade: outperform to market perform: Raymond James
• HAIN: downgrade: buy to neutral: Piper Jaffray: $38
• SWN: downgrade: buy to neutral: SunTrust
• AR: downgrade: neutral to reduce: SunTrust
• SWN: downgrade: buy to neutral: JP Morgan: $8
• SWN: downgrade: buy to neutral: SunTrust: $9
• ALR: downgrade: buy to hold: Jefferies: $56
• ALR: downgrade: buy to hold: Canaccord: $56
• NOK: downgrade: buy to underperform: CLSA: pt cut from $9 to $6.60
• PLT: downgrade: market perform to underperform: Raymond James

INITIATIONS:

• COG: initiated: buy: RBC Capital: $31
• KITE: initiated: outperform: RBC Capital: $85
• FIT: initiated: outperform: Oppenheimer: $25
• MLNX: initiated: buy: Roth Capital: $60
• BBRY: initiated: buy: TD Securities: $9
• CLS: initiated: hold: TD Securities: $10

PRICE TARGET CHANGES:

• FN: pt raised from $26 to $31: Stifel
• FN: pt raised from $28 to $32: Needham
• GOOGL: pt raised from $900 to $925: Nomura
• GOOGL: pt raised from $900 to $930: Stifel
• GOOGL: pt raised from $890 to $924: Citi
• GOOGL: pt raised from $800 to $900: Barclays
• GOOGL: pt raised from $880 to $1000: RBC Capital
• GOOGL: pt raised from $809 to $941: RBC Capital
• IDTI: pt cut from $29 to $26: Topeka Capital
• AET: pt cut from $142 to $140: RBC Capital
• AFL: pt cut from $66 to $64: RBC Capital
• HAIN: pt cut from $47 to $44: Canaccord
• DNKN: pt cut from $57 to $54: Maxim Group
• FLS: pt cut from $37 to $33: RBC Capital
• FLS: pt cut from $55 to $48: Maxim Group
• PFG: pt cut from $59 to $52: RBC Capital
• ROP: pt cut from $190 to $186: Stifel
• SPG: pt cut from $225 too $215: RBC Capital