Wed Apr 29 2015
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Live Index – Wed, 29 Apr 2015 Premarket

PREMARKET WORLD NEWS

June E-mini S&Ps (ESM15 -0.25%) this morning are down -0.12% before U.S. Q1 GDP data and the FOMC decision. European stocks are up +0.07% as they fluctuate between minor gains and losses. Weakness in European stocks was muted after the Eurozone Apr business climate indicator unexpectedly rose +0.09 to 0.32, an 11-month high. Asian stocks closed mostly lower: Japan closed for holiday, Hong Kong -0.15%, China +0.01%, Taiwan -1.03%, Australia -1.85%, Singapore -0.23%, South Korea -0.19%, India -0.62%.

Commodity prices are mostly lower. Jun crude oil (CLM15 -0.63%) is down -0.51% and Jun gasoline (RBM15 -0.78%) is down -0.61% ahead of today’s EIA data that is expected to show crude inventories rose +2.5 million bbl to a new record high Metals prices are weaker. Jun gold (GCM15 -0.54%) is down -0.58% and May copper (HGK15 -0.50%) is down -0.36%. Agriculture prices are mixed.

The dollar index (DXY00 -0.18%) is down -0.14% to a 1-1/2 month low on speculation the FOMC will signal that it will delay an interest rate increase. EUR/USD (^EURUSD) is up +0.14% at a 3-week high after a gauge of Eurozone business confidence rose to an 11-month high. USD/JPY (^USDJPY) is up +0.32%. GBP/USD rose +0.17% to a 1-3/4 month high on speculation the BOE may soon tighten monetary policy after UK Apr nationwide house prices rose a more-than-expected +1.0% m/m, the most in 10 months.

Jun T-note prices (ZNM15 -0.28%) are down -7.5 ticks at a 2-week low on negative carry-over from a slide in German bund prices to a 1-1/4 month low. The 10-year German bund yield jumped 8 bp to a 1-1/4 month high of 0.249% on weak demand for Germany’s 5-year note auction that received only 3.649 billion euros of bids, short of its 4 billion-euro sales goal.

The ECB raised the amount of Emergency Liquidity Assistance to the Bank of Greece by +1.4 billion euros to 76.9 billion euros. Data from the Bank of Greece show Greek Mar bank deposits by businesses and households fell -1.4% m/m to 138.6 billion euros, the sixth consecutive month of outflows and the lowest since Jan 2005.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) the 2-day FOMC meeting that ends today (rates expected unchanged), (2) weekly MBA mortgage applications (previous +2.3% with purchase sub-index +5.0% and refi sub-index +0.6%), (3) Q1 GDP (expected +1.0% q/q annualized after Q4’s +2.2%), (4) March pending home sales (expected +1.0% m/m after Feb’s +3.1% m/m), and (5) the Treasury’s sale of $ 13 billion of 2-year floating rate notes and $ 29 billion of 7-year T-notes.

There are 42 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (consensus $ 0.80), Time Warner (1.09), Waste Management (0.48), Williams Companies (0.14), Humana (2.55), NextEra Energy (1.27), Murphy Oil (-0.88).

U.S. IPO’s scheduled to price today include: Black Stone Minerals (BSM), and Viondvax Pharmaceuticals (BVXV). IPOs that are scheduled to trade today include: Enviva Partners (EVA), and Springleaf Holdings (LEAF).

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

PREMARKET U.S. STOCKS

Humana (HUM +0.55%) reported Q1 EPS of $ 2.47, below consensus of $ 2.55.

U.S. Steel (X +1.98%) slid 7% in after-hours trading after it reported an unexpected Q1 adjusted EPS loss of -7 cents, well below consensus of a 12 cent profit.

Aflac (AFL +0.62%) reported Q1 EPS with-items of $ 1.51, below consensus of $ 1.54.

Willis Group (WSH +0.53%) reported Q1 EPS of $ 1.26, weaker than consensus of $ 1.39.

Owens-Illinois (OI +2.36%) reported Q1 EPS of 44 cents, above consensus of 42 cents, but Q1 revenue of $ 1.40 billion was below consensus of $ 1.42 billion.

Panera Bread (PNRA +0.42%) reported Q1 EPS ex-items of $ 1.41, below consensus of $ 1.44.

Tempur Sealy (TPX +0.43%) reported Q1 adjusted EPS of 55 cents, higher than consensus of 48 cents.

Western Digital (WDC -1.01%) reported Q3 EPS of $ 1.87, less than consensus of $ 1.89.

Wynn Resorts (WYNN +1.28%) reported Q1 adjusted EPS of 70 cents, well below consensus of $ 1.33.

Kraft Foods (KRFT +0.01%) reported Q1 un-adjusted EPS of 72 cents, weaker than consensus of 81 cents.

Smart & Final Stores (SFS +0.90%) reported Q1 adjusted EPS of 10 cents, better than consensus of 9 cents.

GoPro (GPRO +4.05%) jumped 11% in after-hours trading after it reported Q1 EPS of 24 cents, above consensus of 18 cents.

Buffalo Wild Wings (BWLD +2.54%) reported Q1 EPS of $ 1.52, weaker than consensus of $ 1.63.

Edison International (EIX +1.07%) reported Q1 EPS of 90 cents, higher than consensus of 79 cents.

Akamai (AKAM -1.26%) reported Q1 EPS of 61 cents, right on consensus, and Q1 revenue of $ 527 million was slightly ahead of consensus at $ 526.18 million.

Express Scripts (ESRX +0.76%) reported Q1 adjusted EPS of $ 1.10, right on conensus $ 1.10, although Q1 revenue of $ 24.90 billion was better than consensus of $ 24.34 billion.

Total System (TSS +0.42%) reported Q1 adjusted continuing operating EPS of 54 cents, better than consensus of 46 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.25%) this morning are down -2.50 points (-0.12%). Tuesday’s closes: S&P 500 +0.28%, Dow Jones +0.40%, Nasdaq -0.22%. The S&P 500 on Tuesday closed higher on the stronger-than-expected +0.9% m/m increase in the Feb S&P CaseShiller composite-20 home price index and strength in health-care stocks after Merck boosted its earnings guidance. The stock market was able to shake off the unexpected -6.2 point decline in U.S. Apr consumer confidence index from the Conference Board to a 4-month low of 95.2.

Jun 10-year T-notes (ZNM15 -0.28%) this morning are down -7.5 ticks to a fresh 2-week low. Tuesday’s closes: TYM5 -11.50, FVM5 -5.50. Jun 10-year T-notes on Tuesday closed lower on supply pressures during this week’s T-note auction package and on the larger-than-expected increase in Feb S&P CaseShiller home price index. T-notes received support from the decline in the U.S. Apr consumer confidence index to a 4-month low.

The dollar index (DXY00 -0.18%) this morning is down -0.131 (-0.14%) to a 1-1/2 month low. EUR/USD (^EURUSD) is up +0.0015 (+0.14%) to a 3-week high. USD/JPY (^USDJPY) is up +0.38 (+0.32%). Tuesday’s closes: Dollar Index -0.673 (-0.70%), EUR/USD +0.00904 (+0.83%), USD/JPY -0.175 (-0.15%). The dollar index on Tuesday fell to a 1-3/4 month low on ideas that the FOMC at the conclusion of its meeting on Wednesday may signal that it will wait longer to raise interest rates due to the soft U.S. economy. USD/EUR saw continued weakness as the euro continued to get a boost from Monday’s news that Greek Prime Minister Tsipras is being more aggressive in seeking a bailout deal with the Eurozone.

Jun WTI crude oil (CLM15 -0.63%) this morning is down -29 cents (-0.51%) and Jun gasoline (RBM15 -0.78%) is down -0.0121 (-0.61%). Tuesday’s closes: CLM5 +0.07 (+0.12%), RBM5 -0.0144 (-0.72%). June crude oil and gasoline prices on Tuesday settled mixed with crude oil seeing weakness on expectations for Wednesday’s EIA report to show a +2.5 million bbl increase in U.S. crude oil inventories to a new record high.

GLOBAL EVENT CALENDAR04/29/2015
US0700 ETWeekly MBA mortgage applications, previous +2.3% with purchase sub-index +5.0% and refi sub-index +0.6%.
0830 ETQ1 GDP expected +1.0% (q/q annualized), Q4 +2.2%. Q1 personal consumption expected +1.7%, Q4 +4.4%. Q1 GDP price index expected +0.5%, Q4 +0.1%. Q1 core PCE deflator expected +1.0% q/q, Q4 +1.1% q/q.
1000 ETMar pending home sales expected +1.0% m/m and +5.1% y/y, Feb +3.1% m/m and +12.0% y/y.
1030 ETEIA Weekly Petroleum Status Report.
1130 ETTreasury auctions $ 13 billion 2-year floating rate notes.
1300 ETTreasury auctions $ 29 billion 7-year T-notes.
1400 ETFOMC announces interest rate decision.
GER0200 ETGerman May GfK consumer confidence, Apr 10.0.
0800 ETGerman Apr CPI (EU harmonized) expected -0.1% m/m and +0.2% y/y, Mar +0.5% m/m and +0.1% y/y.
EUR0400 ETEurozone Mar M3 money supply expected +4.3% y/y and +4.1% 3-mo avg, Feb +4.0% y/y and +3.8% 3-mo avg.
0500 ETEurozone Apr business climate indicator expected -0.03 to 0.20, Mar 0.23. Apr economic confidence expected unch at 103.9.
0500 ETRevised Eurozone Apr consumer confidence, previous -0.9 to -4.6.
UK0200 ETUK Apr nationwide house prices expected +0.2% m/m and +4.1% y/y, Mar +0.1% m/m and +5.1% y/y.
0600 ETUK Apr CBI reported sales expected +7 to 25, Mar 18.
1905 ETUK Apr GfK consumer confidence expected unch at 4.
JPNn/aJapanese markets closed for Showa Day.
1950 ETJapan Mar industrial production expected -2.3% m/m and -3.4% y/y, Feb -3.1% m/m and -2.0% y/y/
U.S. STOCK CALENDAR04/29/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Hess CorpHES USBef-mktQ1 2015 Earnings ReleaseQ1 2015-1.06
Eaton Corp PLCETN USBef-mktQ1 2015 Earnings ReleaseQ1 20150.984
General Dynamics CorpGD USBef-mktQ1 2015 Earnings ReleaseQ1 20151.945
Goodyear Tire & Rubber Co/TheGT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.443
Starwood Hotels & Resorts Worldwide IncHOT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.562
International Paper CoIP USBef-mktQ1 2015 Earnings ReleaseQ1 20150.8
Northrop Grumman CorpNOC USBef-mktQ1 2015 Earnings ReleaseQ1 20152.277
PG&E CorpPCG USBef-mktQ1 2015 Earnings ReleaseQ1 20150.7
Exelon CorpEXC USBef-mktQ1 2015 Earnings ReleaseQ1 20150.689
Praxair IncPX USBef-mktQ1 2015 Earnings ReleaseQ1 20151.436
Time Warner IncTWX USBef-mktQ1 2015 Earnings ReleaseQ1 20151.092
Waste Management IncWM USBef-mktQ1 2015 Earnings ReleaseQ1 20150.478
Level 3 Communications IncLVLT USBef-mktQ1 2015 Earnings ReleaseQ1 20150.353
AMETEK IncAME USBef-mktQ1 2015 Earnings ReleaseQ1 20150.627
Hudson City Bancorp IncHCBK USBef-mktQ1 2015 Earnings ReleaseQ1 20150.023
Garmin LtdGRMN USBef-mktQ1 2015 Earnings ReleaseQ1 20150.57
MasterCard IncMA USBef-mktQ1 2015 Earnings ReleaseQ1 20150.803
MeadWestvaco CorpMWV USBef-mktQ1 2015 Earnings ReleaseQ1 20150.263
ADT Corp/TheADT USBef-mktQ2 2015 Earnings ReleaseQ2 20150.497
Humana IncHUM US6:00Q1 2015 Earnings ReleaseQ1 20152.552
Anthem IncANTM US6:00Q1 2015 Earnings ReleaseQ1 20152.663
CBRE Group IncCBG US6:30Q1 2015 Earnings ReleaseQ1 20150.258
NextEra Energy IncNEE US7:30Q1 2015 Earnings ReleaseQ1 20151.265
Southern Co/TheSO US7:30Q1 2015 Earnings ReleaseQ1 20150.579
Owens-Illinois IncOI US8:00Q1 2015 Earnings CallQ1 2015
Anthem IncANTM US8:00Q1 2015 Earnings CallQ1 2015
Mondelez International IncMDLZ US8:00Q1 2015 Earnings ReleaseQ1 20150.375
Genworth Financial IncGNW US8:00Q1 2015 Earnings CallQ1 2015
Avery Dennison CorpAVY US8:30Q1 2015 Earnings ReleaseQ1 20150.694
Franklin Resources IncBEN US8:30Q2 2015 Earnings ReleaseQ2 20150.861
Franklin Resources IncBEN US8:30Q2 2015 Earnings Call – Pre-RecordedC2 2015
Express Scripts Holding CoESRX US8:30Q1 2015 Earnings CallQ1 2015
AMETEK IncAME US8:30Q1 2015 Earnings CallQ1 2015
Anthem IncANTM US8:30Q1 2015 Earnings CallC1 2015
LyondellBasell Industries NVLYB US8:30Investor DayY 2015
ADT Corp/TheADT US8:30Q2 2015 Earnings CallQ2 2015
Norfolk Southern CorpNSC US8:45Q1 2015 Earnings ReleaseQ1 20151.001
Norfolk Southern CorpNSC US8:45Q1 2015 Earnings CallQ1 2015
Aflac IncAFL US9:00Q1 2015 Earnings CallQ1 2015
NextEra Energy IncNEE US9:00Q1 2015 Earnings CallQ1 2015
General Dynamics CorpGD US9:00Q1 2015 Earnings CallQ1 2015
Goodyear Tire & Rubber Co/TheGT US9:00Q1 2015 Earnings CallQ1 2015
Humana IncHUM US9:00Q1 2015 Earnings CallQ1 2015
International Paper CoIP US9:00Q1 2015 Earnings CallQ1 2015
Range Resources CorpRRC US9:00Q1 2015 Earnings CallQ1 2015
CBRE Group IncCBG US9:00Q1 2015 Earnings CallQ1 2015
MasterCard IncMA US9:00Q1 2015 Earnings CallQ1 2015
Hess CorpHES US10:00Q1 2015 Earnings CallQ1 2015
Eaton Corp PLCETN US10:00Q1 2015 Earnings CallQ1 2015
Gannett Co IncGCI US10:00Annual General MeetingY 2015
Waste Management IncWM US10:00Q1 2015 Earnings CallQ1 2015
Level 3 Communications IncLVLT US10:00Q1 2015 Earnings CallQ1 2015
Mondelez International IncMDLZ US10:00Q1 2015 Earnings CallQ1 2015
MeadWestvaco CorpMWV US10:00Q1 2015 Earnings CallQ1 2015
Discover Financial ServicesDFS US10:00Annual General MeetingY 2015
Marathon Petroleum CorpMPC US10:00Annual General MeetingY 2015
PG&E CorpPCG US10:30Q1 2015 Earnings CallQ1 2015
Time Warner IncTWX US10:30Q1 2015 Earnings CallQ1 2015
Garmin LtdGRMN US10:30Q1 2015 Earnings CallQ1 2015
Coca-Cola Co/TheKO US11:00Annual General Meeting
Franklin Resources IncBEN US11:00Q2 2015 Earnings CallQ2 2015
WW Grainger IncGWW US11:00Annual General MeetingY 2015
McGraw Hill Financial IncMHFI US11:00Annual General MeetingY 2015
Exelon CorpEXC US11:00Q1 2015 Earnings CallQ1 2015
Praxair IncPX US11:00Q1 2015 Earnings CallQ1 2015
TECO Energy IncTE US11:00Annual General MeetingY 2015
Cincinnati Financial CorpCINF US11:00Q1 2015 Earnings CallQ1 2015
Equity ResidentialEQR US11:00Q1 2015 Earnings CallQ1 2015
Under Armour IncUA US11:00Annual General Meeting
Avery Dennison CorpAVY US12:00Q1 2015 Earnings CallQ1 2015
Northrop Grumman CorpNOC US12:00Q1 2015 Earnings CallQ1 2015
Ameriprise Financial IncAMP US12:00Annual General MeetingY 2015
Starwood Hotels & Resorts Worldwide IncHOT US13:00Q1 2015 Earnings CallQ1 2015
Southern Co/TheSO US13:00Q1 2015 Earnings CallQ1 2015
Stryker CorpSYK US14:00Annual General MeetingY 2015
Unum GroupUNM US16:00Q1 2015 Earnings ReleaseQ1 20150.888
Realty Income CorpO US16:00Q1 2015 Earnings ReleaseQ1 20150.666
Prologis IncPLD US16:30Annual General MeetingY 2015
XL Group PLCXL US17:00Q1 2015 Earnings CallQ1 2015
Varian Medical Systems IncVAR US17:00Q2 2015 Earnings CallQ2 2015
Microsoft CorpMSFT US17:00Analyst BriefingY 2015
Vertex Pharmaceuticals IncVRTX US17:00Q1 2015 Earnings CallQ1 2015
Marriott International Inc/MDMAR US17:00Q1 2015 Earnings ReleaseQ1 20150.695
XL Group PLCXL USAft-mktQ1 2015 Earnings ReleaseQ1 20150.748
Lincoln National CorpLNC USAft-mktQ1 2015 Earnings ReleaseQ1 20151.488
Murphy Oil CorpMUR USAft-mktQ1 2015 Earnings ReleaseQ1 2015-0.877
Eversource EnergyES USAft-mktQ1 2015 Earnings ReleaseQ1 20150.803
Varian Medical Systems IncVAR USAft-mktQ2 2015 Earnings ReleaseQ2 20151.007
Williams Cos Inc/TheWMB USAft-mktQ1 2015 Earnings ReleaseQ1 20150.137
Noble Corp plcNE USAft-mktQ1 2015 Earnings ReleaseQ1 20150.508
Vertex Pharmaceuticals IncVRTX USAft-mktQ1 2015 Earnings ReleaseQ1 2015-0.769
Macerich Co/TheMAC USAft-mktQ1 2015 Earnings ReleaseQ1 20150.831
QEP Resources IncQEP USAft-mktQ1 2015 Earnings ReleaseQ1 2015-0.311
Equinix IncEQIX USAft-mktQ1 2015 Earnings ReleaseQ1 20152.735
Equinix IncEQIX US17:30Q1 2015 Earnings CallQ1 2015
Ball CorpBLL USAnnual General Meeting
Equifax IncEFX USInvestor Meeting – New YorkY 2015
Eversource EnergyES USAnnual General Meeting
Marathon Oil CorpMRO USAnnual General Meeting
Amgen IncAMGN USFDA Adcomm, talimogene laherparepvec, metastatic melanoma
BorgWarner IncBWA USAnnual General Meeting

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