Tue Apr 28 2015
Live Index (1446 articles)

Live Index – Tue, 28 Apr 2015 Premarket

PREMARKET WORLD NEWS

June E-mini S&Ps (ESM15 -0.39%) this morning are down -0.33% as prices fall back from Monday’s record highs. European stocks are down -0.80%, led by losses in bank stocks with a nearly 5% decline in Commerzbank after it said it plans to sell 1.4 billion euros of shares to boost capital, and a 3% decline in Standard Chartered Plc after it reported Q1 profit of $ 1.5 billion from the year-earlier period, less than estimates of $ 1.6 billion. On the positive side, Greek default concerns eased after the 10-year Greek bond yield fell to a 2-week low of 11.104% when a EU spokesman said that current negotiations have “allowed work to further progress” as the Greek aid talks have intensified. Asian stocks closed mostly lower: Japan + 0.38%, Hong Kong +0.03%, China -1.13%, Taiwan -0.16%, Australia -0.57%, Singapore -0.59%, South Korea -0.56%, India +0.81%. China’s Shanghai Composite Index fell back from a 7-year high and closed lower on concern that valuations have outstripped potential earnings growth as the index has surged 90% over the past 6 months on speculation of further monetary stimulus and a record surge in margin trading.

Commodity prices are mostly lower. Jun crude oil (CLM15 -0.61%) is down -0.40% and Jun gasoline (RBM15 -0.54%) is down -0.14% on expectations that Wednesday’s EIA data will show crude stockpiles rose +2.5 million bbl and further expanded record crude inventories. Metals prices are weaker. Jun gold (GCM15 -0.10%) is down -0.11% and May copper (HGK15 -0.20%) is down -0.09%. Agriculture prices are mostly lower with May corn down -0.14% at a 5-3/4 month low and May wheat down -0.37% at a 7-month low as the pace of corn planting quickened and after recent rains boosted soil moisture levels in the Great Plains.

The dollar index (DXY00 -0.38%) is down -0.37% ahead of the start of the 2-day FOMC meeting today. EUR/USD (^EURUSD) is up +0.46% at a 3-week high on upbeat comments from ECB Executive Board member Coeure. USD/JPY (^USDJPY) is down -0.15%.

Jun T-note prices (ZNM15 +0.01%) are up +3 ticks.

In an interview with Alternatives Economiques, ECB Executive Board member Coeure said that “as things stand right now, there is no reason to worry about the Eurozone recovering in 2015 and 2016.” He added that “the exit of Greece from the Eurozone is not a scenario we are working on.”

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) the beginning of the 2-day FOMC meeting (rates expected unchanged), (2) the Feb S&P CaseShiller composite-20 home price index (expected +0.70% m/m after Jan’s +0.87%), (3) the April consumer confidence index from the Conference Board (expected +0.9 to 102.2 after March’s +2.5 to 101.3), (4) the April Richmond Fed survey of manufacturing activity (expected +6 to -2 after March’s -8 to -8), and (5) the Treasury’s auction of $ 35 billion of 5-year T-notes.

There are 40 of the S&P 500 companies that report earnings today with notable reports including: UPS (consensus $ 1.09), Ford (0.26), Aetna (1.95), Kraft Foods (0.81), Wynn Resorts (1.19), Genworth Financial (0.25), Bristol-Myers (0.50), Merck (0.75), Pfizer (0.49), Valero (1.68).

U.S. IPO’s scheduled to price today include: Enviva Partners (EVA), GW Pharmaceuticals (GWPH), and Springleaf Holdings (LEAF).

Equity conferences this week include: Milken Institute Global Conference on Mon-Wed.

PREMARKET U.S. STOCKS

Ford Motor Co. (F +0.82%) reported Q1 EPS of 23 cents, below consensus of 26 cents.

Aetna (AET -1.75%) reported Q1 EPS of $ 2.39, well above consensus of $ 1.95.

Merck & Co. (MRK -0.87%) climbed nearly 2% in European trading after trial results showed its Januvia diabetes drug didn’t increase patients’ heart risk.

Crane (CR -0.47%) reported Q1 adjusted EPS of 92 cents, less than consensus of $ 1.00, and then cut guidance on its fiscal 2015 EPS view to $ 4.30-$ 4.50 from $ 4.45-$ 4.65, at the low end of consensus of $ 4.46.

Owens & Minor (OMI -0.86%) reported Q1 adjusted EPS of 44 cents, less than consensus of 45 cents.

American Financial Group (AFG -1.26%) reported Q1 core EPS of $ 1.25, better than consensus of $ 1.14, although Q1 revenue of $ 946 million was less than consensus of $ 1.01 billion.

Rent-A-Center (RCII +1.88%) reported Q1 EPS of 52 cents, above consensus of 50 cents.

Apple (AAPL +1.82%) rose 1.5% in pre-market trading after it reported Q2 EPS of $ 2.33, higher than consensus of $ 2.16, and then boosted it stock buyback program to $ 140 billion from $ 90 billion.

C.H. Robinson (CHRW -2.42%) reported Q1 EPS of 73 cents, below consensus of 74 cents.

Hartford Financial (HIG -1.05%) reported Q1 EPS of $ 1.04, better than consensus of 97 cents.

Amkor Technology (AMKR -2.34%) reported Q1 non-GAAP EPS of 12 cents, higher than consensus of 10 cents.

Everest Re (RE -1.15%) reported Q1 EPS of $ 7.19, well above consensus of $ 5.93.

Noble Energy (NBL -1.43%) ws initiated with an ‘Outperform’ at Cowen with a price target of $ 63.

Anadarko (APC +0.55%) was initiated with an ‘Outperform’ at Cowen with a price target of $ 119.

Swift Transport (SWFT -2.60%) reported Q1 adjusted EPS of 29 cents, above consensus of 28 cents, although Q1 operating revenue of $ 1.015 billion ws below consensus of $ 1.060 billion.

W. R. Berkley (WRB -0.18%) reported Q1 operating EPS of 80 cents, higher than consensus of 73 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.39%) this morning are down -7.00 points (-0.33%). Monday’s closes: S&P 500 -0.41%, Dow Jones -0.23%, Nasdaq -0.26%. The S&P 500 on Monday posted a new all-time high but then fell back to close lower. The Nasdaq index was undercut by a slide in biotechnology stocks after Mylan NV rejected Teva Pharmaceutical’s $ 40 billion takeover offer. The stock market also saw some long liquidation pressure ahead of the 2-day FOMC meeting where the FOMC could step up its warning about a rate hike in its post-meeting statement.

Jun 10-year T-notes (ZNM15 +0.01%) this morning are up +3 ticks. Monday’s closes: TYM5 -2.50, FVM5 -2.50. Jun 10-year T-notes on Monday closed lower on supply pressures as the Treasury sells $ 105 billion of T-notes on Mon-Wed.

The dollar index (DXY00 -0.38%) this morning is down -0.360 (-0.37%). EUR/USD (^EURUSD) is up +0.0050 (+0.46%) at a 3-week high. USD/JPY (^USDJPY) is down -0.18 (-0.15%). Monday’s closes: Dollar Index -0.157 (-0.16%), EUR/USD +0.00172 (+0.16%), USD/JPY +0.113 (+0.10%). The dollar index on Monday fell to a new 3-week low as EUR/USD climbed to a 2-1/2 week high as some optimism about Greece arose after Greek PM Tspiras downgraded Finance Minister Varaoufakis’ involvement in negotiating with the Eurozone for new bailout money.

Jun WTI crude oil (CLM15 -0.61%) this morning is down -23 cents (-0.40%) and Jun gasoline (RBM15 -0.54%) is down -0.0028 (-0.14%). Monday’s closes: CLM5 -0.16 (-0.28%), RBM5 -0.0043 (-0.21%). June crude oil and gasoline prices on Monday closed lower after Saudi Arabian Deputy Oil Minister Prince Abdulaziz bin Salman indicated that Saudi Arabia will maintain its high production levels when he said that the global oil market is in “excellent” condition and Saudi Arabia will “supply any demand for Saudi oil.”

GLOBAL EVENT CALENDAR04/28/2015
US0900 ETFeb S&P CaseShiller composite-20 home price index expected +0.70% m/m and +4.70% y/y, Jan +0.87% m/m and +4.56% y/y.
1000 ETApr consumer confidence (Conference Board) expected +0.9 to 102.2, Mar +2.5 to 101.3.
1000 ETApr Richmond Fed survey of manufacturing activity expected +6 to -2, Mar -8 to -8.
1030 ETFOMC begins 2-day policy meeting.
1300 ETTreasury auctions $ 35 billion 5-year T-notes.
UK0430 ETUK Q1 GDP expected +0.5% q/q and +2.6% y/y, Q4 +0.6% q/q and +3.0% y/y.
0430 ETUK Feb index of services expected +0.5% m/m and +0.7% 3-mo/3-mo, Jan -0.2% m/m and +0.8% 3-mo/3-mo.
CHI2145 ETChina Apr Westpac-MNI consumer sentiment, Mar 114.7.
U.S. STOCK CALENDAR04/28/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
AGL Resources IncGAS USBef-mktQ1 2015 Earnings ReleaseQ1 20151.53
Boston Scientific CorpBSX USBef-mktQ1 2015 Earnings ReleaseQ1 20150.205
Bristol-Myers Squibb CoBMY USBef-mktQ1 2015 Earnings ReleaseQ1 20150.498
Corning IncGLW USBef-mktQ1 2015 Earnings ReleaseQ1 20150.339
Cummins IncCMI USBef-mktQ1 2015 Earnings ReleaseQ1 20152.143
Ecolab IncECL USBef-mktQ1 2015 Earnings ReleaseQ1 20150.81
Entergy CorpETR USBef-mktQ1 2015 Earnings ReleaseQ1 20151.301
Jacobs Engineering Group IncJEC USBef-mktQ2 2015 Earnings ReleaseQ2 20150.784
Merck & Co IncMRK USBef-mktQ1 2015 Earnings ReleaseQ1 20150.748
Parker-Hannifin CorpPH USBef-mktQ3 2015 Earnings ReleaseQ3 20151.986
Pfizer IncPFE USBef-mktQ1 2015 Earnings ReleaseQ1 20150.494
Textron IncTXT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.473
National Oilwell Varco IncNOV USBef-mktQ1 2015 Earnings ReleaseQ1 20151.091
Affiliated Managers Group IncAMG USBef-mktQ1 2015 Earnings ReleaseQ1 20152.898
Valero Energy CorpVLO USBef-mktQ1 2015 Earnings ReleaseQ1 20151.684
Hospira IncHSP USBef-mktQ1 2015 Earnings ReleaseQ1 20150.528
Wyndham Worldwide CorpWYN USBef-mktQ1 2015 Earnings ReleaseQ1 20150.922
Whirlpool CorpWHR US6:00Q1 2015 Earnings ReleaseQ1 20152.373
Aetna IncAET US6:00Q1 2015 Earnings ReleaseQ1 20151.952
CONSOL Energy IncCNX US6:45Q1 2015 Earnings ReleaseQ1 20150.127
Ford Motor CoF US7:00Q1 2015 Earnings ReleaseQ1 20150.262
Masco CorpMAS US7:00Q1 2015 Earnings ReleaseQ1 20150.206
Waters CorpWAT US7:00Q1 2015 Earnings ReleaseQ1 20151.016
Coach IncCOH US7:00Q3 2015 Earnings ReleaseQ3 20150.348
McGraw Hill Financial IncMHFI US7:15Q1 2015 Earnings ReleaseQ1 20150.997
United Parcel Service IncUPS US7:45Q1 2015 Earnings ReleaseQ1 20151.092
Boston Scientific CorpBSX US8:00Q1 2015 Earnings CallQ1 2015
Coca-Cola Enterprises IncCCE US8:00Annual General MeetingY 2015
Masco CorpMAS US8:00Q1 2015 Earnings CallQ1 2015
Merck & Co IncMRK US8:00Q1 2015 Earnings CallQ1 2015
Textron IncTXT US8:00Q1 2015 Earnings CallQ1 2015
Aetna IncAET US8:00Q1 2015 Earnings CallQ1 2015
Corning IncGLW US8:30Q1 2015 Earnings CallQ1 2015
McGraw Hill Financial IncMHFI US8:30Q1 2015 Earnings CallQ1 2015
United Parcel Service IncUPS US8:30Q1 2015 Earnings CallQ1 2015
Waters CorpWAT US8:30Q1 2015 Earnings CallQ1 2015
CH Robinson Worldwide IncCHRW US8:30Q1 2015 Earnings CallQ1 2015
Coach IncCOH US8:30Q3 2015 Earnings CallQ3 2015
Wyndham Worldwide CorpWYN US8:30Q1 2015 Earnings CallQ1 2015
Ford Motor CoF US9:00Q1 2015 Earnings CallC1 2015
Citigroup IncC US9:00Annual General MeetingY 2015
Universal Health Services IncUHS US9:00Q1 2015 Earnings CallQ1 2015
General Growth Properties IncGGP US9:00Q1 2015 Earnings CallQ1 2015
Hartford Financial Services Group Inc/TheHIG US9:00Q1 2015 Earnings CallQ1 2015
National Oilwell Varco IncNOV US9:00Q1 2015 Earnings CallQ1 2015
Wells Fargo & CoWFC US9:30Annual General MeetingY 2015
AGL Resources IncGAS US10:00Annual General MeetingY 2015
Cummins IncCMI US10:00Q1 2015 Earnings CallQ1 2015
Hershey Co/TheHSY US10:00Annual General Meeting
Pfizer IncPFE US10:00Q1 2015 Earnings CallQ1 2015
Exelon CorpEXC US10:00Annual General MeetingY 2015
Total System Services IncTSS US10:00Annual General Meeting
Whirlpool CorpWHR US10:00Q1 2015 Earnings CallQ1 2015
Boston Properties IncBXP US10:00Q1 2015 Earnings CallQ1 2015
CONSOL Energy IncCNX US10:00Q1 2015 Earnings CallQ1 2015
Bristol-Myers Squibb CoBMY US11:00Q1 2015 Earnings CallQ1 2015
Entergy CorpETR US11:00Q1 2015 Earnings CallQ1 2015
Ford Motor CoF US11:00Q1 2015 Earnings Call – Fixed IncomeQ1 2015
International Business Machines CorpIBM US11:00Annual General MeetingY 2015
Jacobs Engineering Group IncJEC US11:00Q2 2015 Earnings CallQ2 2015
Parker-Hannifin CorpPH US11:00Q3 2015 Earnings CallQ3 2015
PNC Financial Services Group Inc/ThePNC US11:00Annual General MeetingY 2015
Praxair IncPX US11:00Annual General MeetingY 2015
BB&T CorpBBT US11:00Annual General Meeting
AvalonBay Communities IncAVB US11:00Q1 2015 Earnings CallQ1 2015
Affiliated Managers Group IncAMG US11:00Q1 2015 Earnings CallQ1 2015
Valero Energy CorpVLO US11:00Q1 2015 Earnings CallQ1 2015
MetLife IncMET US11:30Annual General MeetingY 2015
Ecolab IncECL US13:00Q1 2015 Earnings CallQ1 2015
FMC CorpFMC US14:00Annual General MeetingY 2015
AGL Resources IncGAS US16:00Q1 2015 Earnings CallQ1 2015
Total System Services IncTSS US16:00Q1 2015 Earnings ReleaseQ1 20150.461
Kraft Foods Group IncKRFT US16:05Q1 2015 Earnings ReleaseQ1 20150.811
Edison InternationalEIX US16:30Q1 2015 Earnings CallQ1 2015
Akamai Technologies IncAKAM US16:30Q1 2015 Earnings CallQ1 2015
Wynn Resorts LtdWYNN US16:30Q1 2015 Earnings CallQ1 2015
TECO Energy IncTE US17:00Q1 2015 Earnings CallQ1 2015
Total System Services IncTSS US17:00Q1 2015 Earnings CallQ1 2015
Western Digital CorpWDC US17:00Q3 2015 Earnings CallQ3 2015
Aflac IncAFL USAft-mktQ1 2015 Earnings ReleaseQ1 20151.543
Owens-Illinois IncOI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.424
Edison InternationalEIX USAft-mktQ1 2015 Earnings ReleaseQ1 20150.783
TECO Energy IncTE USAft-mktQ1 2015 Earnings ReleaseQ1 20150.276
Western Digital CorpWDC USAft-mktQ3 2015 Earnings ReleaseQ3 20151.896
Cincinnati Financial CorpCINF USAft-mktQ1 2015 Earnings ReleaseQ1 20150.72
Express Scripts Holding CoESRX USAft-mktQ1 2015 Earnings ReleaseQ1 20151.097
Range Resources CorpRRC USAft-mktQ1 2015 Earnings ReleaseQ1 20150.131
Equity ResidentialEQR USAft-mktQ1 2015 Earnings ReleaseQ1 20150.793
Akamai Technologies IncAKAM USAft-mktQ1 2015 Earnings ReleaseQ1 20150.613
Wynn Resorts LtdWYNN USAft-mktQ1 2015 Earnings ReleaseQ1 20151.189
Genworth Financial IncGNW USAft-mktQ1 2015 Earnings ReleaseQ1 20150.252
Chubb Corp/TheCB USAnnual General Meeting
Comerica IncCMA USAnnual General Meeting
PerkinElmer IncPKI USAnnual General Meeting
Equifax IncEFX USInvestor Meeting – BostonY 2015
Noble Energy IncNBL USAnnual General Meeting
SunTrust Banks IncSTI USAnnual General Meeting
VF CorpVFC USAnnual General Meeting
Apartment Investment & Management CoAIV USAnnual General MeetingY 2015
Teradata CorpTDC USAnnual General Meeting
Hanesbrands IncHBI USAnnual General Meeting
Spectra Energy CorpSE USAnnual General Meeting
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