Thu Apr 23 2015
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Live Index – Thu, 23 Apr 2015 Premarket

PREMARKET WORLD NEWS

June E-mini S&Ps (ESM15 -0.24%) this morning are down -0.25% and European stocks are down -1.08% on weaker-than-expected global manufacturing reports. Gauges of Chinese and Japanese manufacturing activity contracted at the fastest pace in a year and Eurozone manufacturing activity unexpectedly declined. Also, U.S. technology stocks are lower led by a 3% loss in Qualcomm and a 5% drop in Texas Instruments after both companies reported less than expected quarterly profits. European technology stocks are also lower, led by a 9% drop in Ericsson AB after the company reported profits that were below consensus due to a slowdown in spending by its North American operators. Asian stocks closed mostly higher: Japan +0.27%, Hong Kong -0.38%, China +0.36%, Taiwan +1.92%, Australia +0.12%, Singapore +0.19%, South Korea +1.47%, India -0.56%. Japan’s Nikkei stock index posted a fresh 15-year high as exporters rallied after the yen fell to a 1-week low against the dollar, which boosts the earnings prospects of exporters, while China’s Shanghai Composite rose to a new 7-year high after weaker-than-expected manufacturing data spurred speculation the government will expand stimulus measures.

Commodity prices are mixed. Jun crude oil (CLM15 -0.37%) is down -0.28% and Jun gasoline (RBM15 +0.35%) is up +0.28%. Metals prices are higher. Jun gold (GCM15 +0.18%) is up +0.17% after data showed funds boosted their gold holdings for a fourth day as gold assets in ETFs rose to a 4-week high on Wednesday. May copper (HGK15 +0.71%) is up +0.34% and recovered from a 1-month low on speculation China will boost stimulus to spur economic growth that will lift copper demand. Agriculture prices are mixed.

The dollar index (DXY00 +0.09%) is up +0.03%. EUR/USD (^EURUSD) is up +0.14%. USD/JPY (^USDJPY) is up +0.07% at a 1-week high.

Jun T-note prices (ZNM15 +0.11%) are up +5 ticks on increased safe-haven demand as stocks falter.

The China Apr HSBC flash manufacturing PMI fell -0.4 to 49.2, weaker than expectations of -0.2 to 49.4 and the lowest in a year, which bolsters concern about China’s economy.

The Eurozone Apr Markit manufacturing PMI unexpectedly fell -0.3 to 51.9, weaker than expectations of +0.4 to 52.6, and shows the ECB’s QE program will take time to revive the economy.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) weekly unemployment claims (initial claims expected -7,000 to 287,000 after last week’s +12,000 to 294,000; continuing claims expected +22,000 to 2.290 million after last week’s -40,000 to 2.268 million), (2) preliminary-April Markit U.S. manufacturing PMI (expected unchanged at 55.7 after March’s +0.6 to 55.7), (3) March new home sales (expected -4.5% to 515,000 after Feb’s +7.8% to 539,000), (4) the April Kansas City Fed manufacturing activity index (expected expected +2 to -2 after March’s -5 to -4), and (4) the Treasury’s auction of $ 18 billion of 5-year TIPS.

There are 54 of the S&P 500 companies that report earnings today with notable reports including: Google (6.63), Microsoft (0.53), Amazon.com (-0.12), Starbucks (0.33), Caterpillar (1.34), GM (0.97), Capital One (1.87), PepsiCo (0.79), Procter & Gamble (0.92), AbbVie (0.85), Baxter (0.88), Raytheon (1.35), Nasdaq (0.78), PulteGroup (0.20).

U.S. IPO’s scheduled to price today include: Apigee Corp (APIC), Viking Therapeutics (VKTX).

Equity conferences during the remainder of this week include: IHS CERAWeek Energy Conference on Mon-Thu, Capital Link Closed-End Funds & Global ETFs Forum – Panel on Thu, RSA Conference on Thu.

PREMARKET U.S. STOCKS

Texas Instruments (TXN +0.98%) slipped 5% in after-hours trading after it reported Q1 EPS of 61 cents, below consensus of 62 cents.

Eli Lilly (LLY +0.12%) reported Q1 EPS of 87 cents, higher than consensus of 76 cents.

Valmont (VMI -0.31%) reported Q1 EPS of $ 1.28, well below consensus of $ 1.49.

O’Reilly Automotive (ORLY -0.18%) reported Q1 EPS of $ 2.06, better than consensus of $ 1.94.

Xilinx (XLNX +0.32%) slid 5% in after-hours trading after it reported Q4 EPS of 50 cents, right on consensus, but Q4 revenue of $ 567 million was less than consensus of $ 569.5 million.

Oceaneering (OII +3.66%) reported Q1 EPS of 70 cents, above consensus of 62 cents.

Ameriprise (AMP +0.99%) reported Q1 EPS of $ 2.18, weaker than consensus of $ 2.3.

United Stationers (USTR +0.36%) reported Q1 adjusted EPS of 52 cents, right on consensus, although Q1 revenue of $ 1.33 billion was below consensus of $ 1.35 billion.

eBay (EBAY +0.58%) rose over 5% in after-hours trading after it reported Q1 EPS of 77 cents, above consensus of 70 cents.

Equifax (EFX -0.31%) reported Q1 adjusted EPS of $ 1.07, higher than consensus of $ 1.02.

Las Vegas Sands (LVS +1.71%) fell nearly 3% in after-hours trading after it reported Q1 adjusted EPS of 66 cents, below consensus of 72 cents.

Skechers (SKX +1.38%) reported Q1 EPS of $ 1.10, higher than consensus of $ 1.01.

Plexus (PLXS -0.86%) reported Q2 EPS of 69 cents, right on consensus, although Q2 revenue of $ 651 million was above consensus of $ 645.45 million.

AT&T (T +0.61%) reported Q1 adjusted EPS of 63 cents, better than consensus of 62 cents.

Qualcomm (QCOM +0.54%) declined over 3% in after-hours trading after it reported Q2 EPS of $ 1.40, above consensus of $ 1.33, but then lowered guidance on fiscal 2015 EPS view to $ 4.60-$ 5.00 from $ 4.85-$ 5.05, at the low end of consensus at $ 5.00.

Facebook (FB +1.21%) fell over 1% in after-hours trading after reported Q1 EPS of 42 cents, higher than consensus of 40 cents, although Q1 revenue of $ 3.54 billion was below consensus of $ 3.56 billion.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.24%) this morning are down -5.25 points (-0.25%). Wednesday’s closes: S&P 500 +0.51%, Dow Jones +0.49%, Nasdaq +0.56%. The S&P 500 on Wednesday closed higher on support from a rally in the Nikkei index to a 15-year high and a rally in China’s Shanghai Composite index to a fresh 7-year high. In addition, U.S. March existing home sales showed a strong increase of +6.1% to 5.19 million and Greek tensions eased a bit.

Jun 10-year T-notes (ZNM15 +0.11%) this morning are up +5 ticks. Wednesday’s closes: TYM5 -16.00, FVM5 -7.25. Jun 10-year T-notes on Wednesday closed lower on the stronger-than-expected +6.1% increase in U.S. Mar existing home sale to a 1-1/2 year high and reduced safe-haven demand as the Greek bond yield fell sharply and as U.S. stocks rallied.

The dollar index (DXY00 +0.09%) this morning is up +0.031 (+0.03%). EUR/USD (^EURUSD) is up +0.0015 (+0.14%). USD/JPY (^USDJPY) is up +0.08 (+0.07%) at a 1-week high. Wednesday’s closes: Dollar Index -0.072 (-0.07%), EUR/USD -0.00108 (-0.10%), USD/JPY +0.248 (+0.21%). The dollar index on Wednesday closed slightly lower in mostly technical trade. The dollar received support from the stronger-than-expected U.S. Mar existing home sales report but was undercut by EUR strength tied to reduced Greek tensions. The yen showed weakness with USD/JPY posting a 1-week high on news that Japan Mar imports plunged by -14.5% y/y, the biggest decline in 5-1/3 years.

Jun WTI crude oil (CLM15 -0.37%) this morning is down -16 cents (-0.28%) and Jun gasoline (RBM15 +0.35%) is up +0.0054 (+0.28%). Wednesday’s closes: CLM5 -0.45 (-0.79%), RBM5 +0.0339 (+1.79%). Jun crude oil closed lower on Wednesday after U.S. crude oil inventories rose by +5.315 million bbls to a record 489 million bbl. However, gasoline prices closed higher after weekly EIA gasoline inventories fell -2.135 million bbl to a 4-month low of 225.7 million bbl.

GLOBAL EVENT CALENDAR04/23/2015
US0830 ETWeekly initial unemployment claims expected -7,000 to 287,000, previous +12,000 to 294,000. Weekly continuing claims expected +22,000 to 2.290 million, previous 40,000 to 2.268 million.
0830 ETUSDA weekly Export Sales.
0945 ETPreliminary Apr Markit manufacturing PMI expected unch at 55.7, Mar 55.7.
1000 ETMar new home sales expected -4.5% to 515,000, Feb +7.8% to 539,000.
1100 ETApr Kansas City Fed manufacturing activity expected +2 to -2, Mar -5 to -4.
1100 ETTreasury announces amount of 2-year T-notes (previous $ 26 billion), 2-year floating-rate notes (previous $ 13 billion), 5-year T-notes (previous $ 35 billion) and 7-year T-notes (previous $ 29 billion) to be auctioned Apr 27-29.
1300 ETTreasury auctions $ 18 billion 5-year TIPS.
GER0200 ETGerman May GfK consumer confidence, Apr 10.0.
0330 ETGerman Apr Markit/BME manufacturing PMI expected +0.2 to 53.0, Mar 52.8. Apr Markit services PMI expected +0.1 to 55.5, Mar 55.4.
EUR0400 ETEurozone Apr Markit manufacturing PMI expected +0.4 to 52.6, Mar 52.2. Apr composite PMI expected +0.4 to 54.4, Mar 54.0.
UK0430 ETUK Mar public sector net borrowing expected +6.5 billion pounds, Feb +6.2 billion pounds.
0430 ETUK Mar retail sales ex autos expected +0.5% m/m and +5.5% y/y, Feb +0.7% m/m and +5.1% y/y.
0430 ETUK Mar retail sales including autos expected +0.4% m/m and +5.4% y/y, Feb +0.7% m/m and +5.7% y/y.
JPN1950 ETJapan Mar PPI services expected +3.3% y/y, Feb +3.3% y/y.
U.S. STOCK CALENDAR04/23/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Delphi Automotive PLCDLPH US4:00Annual General MeetingY 2015
American Electric Power Co IncAEP USBef-mktQ1 2015 Earnings ReleaseQ1 20151.126
CMS Energy CorpCMS USBef-mktQ1 2015 Earnings ReleaseQ1 20150.685
Dow Chemical Co/TheDOW USBef-mktQ1 2015 Earnings ReleaseQ1 20150.758
EQT CorpEQT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.629
Helmerich & Payne IncHP USBef-mktQ2 2015 Earnings ReleaseQ2 20150.81
Hershey Co/TheHSY USBef-mktQ1 2015 Earnings ReleaseQ1 20151.154
Eli Lilly & CoLLY USBef-mktQ1 2015 Earnings ReleaseQ1 20150.763
Nucor CorpNUE USBef-mktQ1 2015 Earnings ReleaseQ1 20150.148
PulteGroup IncPHM USBef-mktQ1 2015 Earnings ReleaseQ1 20150.202
Procter & Gamble Co/ThePG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.922
Snap-on IncSNA USBef-mktQ1 2015 Earnings ReleaseQ1 20151.818
BB&T CorpBBT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.698
Southwest Airlines CoLUV USBef-mktQ1 2015 Earnings ReleaseQ1 20150.651
Stanley Black & Decker IncSWK USBef-mktQ1 2015 Earnings ReleaseQ1 20150.95
Cameron International CorpCAM USBef-mktQ1 2015 Earnings ReleaseQ1 20150.702
Alexion Pharmaceuticals IncALXN USBef-mktQ1 2015 Earnings ReleaseQ1 20151.324
Quest Diagnostics IncDGX USBef-mktQ1 2015 Earnings ReleaseQ1 20151.037
Mead Johnson Nutrition CoMJN USBef-mktQ1 2015 Earnings ReleaseQ1 20151.052
Dr Pepper Snapple Group IncDPS USBef-mktQ1 2015 Earnings ReleaseQ1 20150.761
AbbVie IncABBV USBef-mktQ1 2015 Earnings ReleaseQ1 20150.851
Danaher CorpDHR US6:00Q1 2015 Earnings ReleaseQ1 20150.934
Baxter International IncBAX US7:00Q1 2015 Earnings ReleaseQ1 20150.878
Ingersoll-Rand PLCIR US7:00Q1 2015 Earnings ReleaseQ1 20150.32
Johnson Controls IncJCI US7:00Q2 2015 Earnings ReleaseQ2 20150.736
PepsiCo IncPEP US7:00Q1 2015 Earnings ReleaseQ1 20150.792
Altria Group IncMO US7:00Q1 2015 Earnings ReleaseQ1 20150.622
Raytheon CoRTN US7:00Q1 2015 Earnings ReleaseQ1 20151.351
NASDAQ OMX Group Inc/TheNDAQ US7:00Q1 2015 Earnings ReleaseQ1 20150.779
Caterpillar IncCAT US7:30Q1 2015 Earnings ReleaseQ1 20151.339
3M CoMMM US7:30Q1 2015 Earnings ReleaseQ1 20151.925
Rockwell Collins IncCOL US7:30Q2 2015 Earnings ReleaseQ2 20151.207
General Motors CoGM US7:30Q1 2015 Earnings ReleaseQ1 20150.966
Danaher CorpDHR US8:00Q1 2015 Earnings CallQ1 2015
Freeport-McMoRan IncFCX US8:00Q1 2015 Earnings ReleaseQ1 2015-0.052
PepsiCo IncPEP US8:00Q1 2015 Earnings CallQ1 2015
BB&T CorpBBT US8:00Q1 2015 Earnings CallQ1 2015
Stanley Black & Decker IncSWK US8:00Q1 2015 Earnings CallQ1 2015
Union Pacific CorpUNP US8:00Q1 2015 Earnings ReleaseQ1 20151.372
Lockheed Martin CorpLMT US8:00Annual General MeetingY 2015
NASDAQ OMX Group Inc/TheNDAQ US8:00Q1 2015 Earnings CallQ1 2015
Baxter International IncBAX US8:30Q1 2015 Earnings CallQ1 2015
CMS Energy CorpCMS US8:30Q1 2015 Earnings CallQ1 2015
Equifax IncEFX US8:30Q1 2015 Earnings CallQ1 2015
Hershey Co/TheHSY US8:30Q1 2015 Earnings CallQ1 2015
Pfizer IncPFE US8:30Annual General MeetingY 2015
PulteGroup IncPHM US8:30Q1 2015 Earnings CallQ1 2015
Procter & Gamble Co/ThePG US8:30Q3 2015 Earnings CallQ3 2015
Quest Diagnostics IncDGX US8:30Q1 2015 Earnings CallQ1 2015
Union Pacific CorpUNP US8:45Q1 2015 Earnings CallQ1 2015
American Electric Power Co IncAEP US9:00Q1 2015 Earnings CallQ1 2015
Dow Chemical Co/TheDOW US9:00Q1 2015 Earnings CallQ1 2015
Eli Lilly & CoLLY US9:00Q1 2015 Earnings CallQ1 2015
3M CoMMM US9:00Q1 2015 Earnings CallQ1 2015
Altria Group IncMO US9:00Q1 2015 Earnings CallQ1 2015
Raytheon CoRTN US9:00Q1 2015 Earnings CallQ1 2015
Ameriprise Financial IncAMP US9:00Q1 2015 Earnings CallQ1 2015
AbbVie IncABBV US9:00Q1 2015 Earnings CallQ1 2015
AES Corp/VAAES US9:30Annual General MeetingY 2015
Cameron International CorpCAM US9:30Q1 2015 Earnings CallQ1 2015
Mead Johnson Nutrition CoMJN US9:30Q1 2015 Earnings CallQ1 2015
Freeport-McMoRan IncFCX US10:00Q1 2015 Earnings CallQ1 2015
CenterPoint Energy IncCNP US10:00Annual General MeetingY 2015
Ingersoll-Rand PLCIR US10:00Q1 2015 Earnings CallQ1 2015
Snap-on IncSNA US10:00Q1 2015 Earnings CallQ1 2015
T Rowe Price Group IncTROW US10:00Annual General MeetingY 2015
Alexion Pharmaceuticals IncALXN US10:00Q1 2015 Earnings CallQ1 2015
Rockwell Collins IncCOL US10:00Q2 2015 Earnings CallQ2 2015
Regions Financial CorpRF US10:00Annual General Meeting
General Motors CoGM US10:00Q1 2015 Earnings CallQ1 2015
EQT CorpEQT US10:30Q1 2015 Earnings CallQ1 2015
Johnson & JohnsonJNJ US10:30Annual General MeetingY 2015
Crown Castle International CorpCCI US10:30Q1 2015 Earnings CallQ1 2015
Caterpillar IncCAT US11:00Q1 2015 Earnings CallQ1 2015
Helmerich & Payne IncHP US11:00Q2 2015 Earnings CallQ2 2015
Johnson Controls IncJCI US11:00Q2 2015 Earnings CallQ2 2015
Citigroup IncC US11:00Q1 2015 Earnings Call – Fixed IncomeC1 2015
Charles Schwab Corp/TheSCHW US11:00Business Update Call
Torchmark CorpTMK US11:00Q1 2015 Earnings CallQ1 2015
O’Reilly Automotive IncORLY US11:00Q1 2015 Earnings CallQ1 2015
Dr Pepper Snapple Group IncDPS US11:00Q1 2015 Earnings CallQ1 2015
Ameren CorpAEE US11:30Annual General MeetingY 2015
Southwest Airlines CoLUV US12:30Q1 2015 Earnings CallQ1 2015
Nucor CorpNUE US14:00Q1 2015 Earnings CallQ1 2015
Huntington Bancshares Inc/OHHBAN US14:00Annual General MeetingY 2015
SL Green Realty CorpSLG US14:00Q1 2015 Earnings CallQ1 2015
Robert Half International IncRHI US16:00Q1 2015 Earnings ReleaseQ1 20150.563
Principal Financial Group IncPFG US16:00Q1 2015 Earnings ReleaseQ1 20151.049
Edwards Lifesciences CorpEW US16:00Q1 2015 Earnings ReleaseQ1 20151.045
CR Bard IncBCR US16:05Q1 2015 Earnings ReleaseQ1 20152.072
Capital One Financial CorpCOF US16:05Q1 2015 Earnings ReleaseQ1 20151.871
E*TRADE Financial CorpETFC US16:05Q1 2015 Earnings ReleaseQ1 20150.248
VeriSign IncVRSN US16:05Q1 2015 Earnings ReleaseQ1 20150.754
KLA-Tencor CorpKLAC US16:15Q3 2015 Earnings ReleaseQ3 20150.758
Altera CorpALTR US16:15Q1 2015 Earnings ReleaseQ1 20150.32
Avery Dennison CorpAVY US16:30Annual General Meeting
VeriSign IncVRSN US16:30Q1 2015 Earnings CallQ1 2015
Google IncGOOGL US16:30Q1 2015 Earnings CallQ1 2015
Hanesbrands IncHBI US16:30Q1 2015 Earnings CallQ1 2015
Altera CorpALTR US16:45Q1 2015 Earnings CallQ1 2015
CR Bard IncBCR US17:00Q1 2015 Earnings CallQ1 2015
Chubb Corp/TheCB US17:00Q1 2015 Earnings CallQ1 2015
Robert Half International IncRHI US17:00Q1 2015 Earnings CallQ1 2015
KLA-Tencor CorpKLAC US17:00Q3 2015 Earnings CallQ3 2015
Starbucks CorpSBUX US17:00Q2 2015 Earnings CallQ2 2015
Capital One Financial CorpCOF US17:00Q1 2015 Earnings CallQ1 2015
Stericycle IncSRCL US17:00Q1 2015 Earnings CallQ1 2015
E*TRADE Financial CorpETFC US17:00Q1 2015 Earnings CallQ1 2015
Republic Services IncRSG US17:00Q1 2015 Earnings CallQ1 2015
Juniper Networks IncJNPR US17:00Q1 2015 Earnings CallQ1 2015
Edwards Lifesciences CorpEW US17:00Q1 2015 Earnings CallQ1 2015
Chubb Corp/TheCB USAft-mktQ1 2015 Earnings ReleaseQ1 20151.519
Newmont Mining CorpNEM USAft-mktQ1 2015 Earnings ReleaseQ1 20150.219
Southwestern Energy CoSWN USAft-mktQ1 2015 Earnings ReleaseQ1 20150.218
Microsoft CorpMSFT USAft-mktQ3 2015 Earnings ReleaseQ3 20150.527
Starbucks CorpSBUX USAft-mktQ2 2015 Earnings ReleaseQ2 20150.329
Stericycle IncSRCL USAft-mktQ1 2015 Earnings ReleaseQ1 20151.096
Amazon.com IncAMZN USAft-mktQ1 2015 Earnings ReleaseQ1 2015-0.124
Republic Services IncRSG USAft-mktQ1 2015 Earnings ReleaseQ1 20150.435
Google IncGOOGL USAft-mktQ1 2015 Earnings ReleaseQ1 20156.631
Juniper Networks IncJNPR USAft-mktQ1 2015 Earnings ReleaseQ1 20150.305
Hanesbrands IncHBI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.225
Microsoft CorpMSFT US17:30Q3 2015 Earnings CallQ3 2015
Amazon.com IncAMZN US17:30Q1 2015 Earnings CallQ1 2015
Intuitive Surgical IncISRG US18:00Annual General MeetingY 2015
Cabot Oil & Gas CorpCOG USAnnual General Meeting
Edison InternationalEIX USAnnual General Meeting

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