Thu Apr 30 2015
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Live Index – Thu, 30 Apr 2015 Premarket

PREMARKET WORLD NEWS

June E-mini S&Ps (ESM15 -0.30%) this morning are down -0.23%, led by a 1% drop in Apple after a report that a component defect could force it to limit supply of its new watch. European stocks are down -0.14% at a 1-1/2 month low after German Mar retail sales unexpectedly fell -2.3% m/m, the biggest monthly drop in 15 months. Also, Nokia Oyj is down nearly 8% after it reported Q1 profits that were below estimates, and STMicroelectronics plunged 12% after it forecast weaker-than-expected revenue and profit margins amid a slowdown in demand. Asian stocks closed mostly lower: Japan -2.69%, Hong Kong -0.94%, China -0.78%, Taiwan -0.34%, Australia -0.83%, Singapore +0.01%, South Korea -0.60%, India -0.79%. Japan’s Nikkei Stock Index fell to a 1-week low, led by a slide in exporters, after the yen climbed to a 1-month high against the dollar, which reduces the earnings prospects of exporters.

Commodity prices are mixed. Jun crude oil (CLM15 +1.02%) is up +0.89% at a new 4-1/2 month high as the dollar weakened and after Wednesday’s EIA data showed a decline in crude supplies at Cushing for the first time since Nov. Jun gasoline (RBM15 +0.61%) is up +0.33%. Metals prices are mixed. Jun gold (GCM15 -0.62%) is down -0.63% after Wednesday’s post-FOMC statement signaled the Fed is still open to raising interest rates. May copper (HGK15 +1.45%) is up +1.29% at a 1-month high after weekly Shanghai copper inventories fell for a fourth week as they slid -20,120 Mt TO 188,165 MT, a 2-1/2 month low. Agriculture prices are higher due to a weaker dollar.

The dollar index (DXY00 -0.39%) is down -0.44% at a fresh 2-month low on speculation the Fed is in no hurry to raise interest rates. EUR/USD (^EURUSD) is up +0.58% at a 2-month high after Eurozone Apr CPI was unch y/y and ended a 4-month streak of declines. USD/JPY (^USDJPY) is down -0.06% at a 1-month low.

Jun T-note prices (ZNM15 -0.04%) are down -0.5 of a tick on carry-over weakness from a slide in German bunds to a 1-1/2 month low.

In its Economic Bulletin for Apr, the ECB was upbeat in its economic prospects for the Eurozone when it said “the latest economic indicators and survey results are consistent with continued economic expansion in Q1 of 2015. Looking beyond the short term, the monetary measures taken by the Governing Council, the low oil price and the depreciation of the euro should help broaden and gradually strengthen the recovery.”

 

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) weekly unemployment claims (initial unemployment claims expected -5,000 to 290,000 after last week’s +1,000 to 295,000; continuing claims expected -25,000 to 2.300 million after last week’s +50,000 to 2.325 million), (2) Mar personal spending (expected +0.5% after Feb’s +0.1%) and Mar personal income (expected +0.2% after Feb’s +0.4%), (3) the Mar PCE deflator (expected +0.4% y/y after Feb’s +0.3% y/y) and Mar core PCE deflator (expected unchanged from Feb’s +1.4% y/y), (4) the Q1 employment cost index (expected +0.6% q/q after Q4’s +0.6%), and (5) the April Chicago PMI (expected +3.7 to 50.0 after March’s +0.5 to 46.3), and (6) the Apr Milwaukee ISM (expected -0.25 to 53.00 after March’s +2.93 to 53.25).

There are 52 of the S&P 500 companies that report earnings today with notable reports including: Exxon Mobil (consensus $ 0.82), Visa (0.62), Time Warner Cable (1.88), Coca-Cola Enterprises (0.40), ConocoPhillips (-0.22), Marathon Petroleum (2.85), CME Group (0.95).

U.S. IPO’s scheduled to price today include: Black Stone Minerals (BSM), Biondvax Pharmaceuticals (BVXV), Advaxis (ADXS), Inovio Pharmaceuticals (INO), Scorpio Tankers (STNG). IPOs that are scheduled to trade today include: Blueprint Medicines (BPMC).

Equity conferences during the remainder of this week include: none.

PREMARKET U.S. STOCKS

Time Warner Cable (TWC -0.02%) reported Q1 EPS of $ 1.65, below consensus of $ 1.88.

Manitowoc (MTW -0.96%) reported a Q1 adjusted EPS loss of -5 cents, a larger loss than consensus of -2 cents.

Baidu (BIDU -0.09%) reported Q1 adjusted EPS of $ 1.22, better than consensus of $ 1.16.

Marriott (MAR +3.14%) reported Q1 EPS of 73 cents, above consensus of 70 cents.

Flextronics (FLEX +0.41%) reported Q4 adjusted EPS of 27 cents, higher than consensus of 25 cents.

Apple (AAPL -1.47%) is down over 1% in pre-market trading after Dow Jones reported that the company found defects in the ‘taptic engine’ of the Apple Watch.

AMC Entertainment (AMC +0.37%) reported Q1 EPS of 6 cents, less than consensus of 8 cents.

Con-way (CNW -2.77%) reported Q1 EPS of 39 cents, better than consensus of 38 cents, but Q1 revenue of $ 1.37 billion was below consensus of $ 1.45 billion.

CACI (CACI -2.36%) reported Q3 EPS of $ 1.18, weaker than consensus of $ 1.27.

Williams (WMB +1.21%) reported Q1 adjusted EPS of 16 cents, above consensus of 15 cents.

Service Corp. (SCI -1.00%) reported Q1 adjusted EPS of 32 cents, higher than consensus of 28 cents. although Q1 revenue of $ 748.1 million was below consensus of $ 752.45 million.

Bob Evans Farms (BOBE -3.74%) announced that it will close 20 restaurants over the next 12 months.

Varian Medical (VAR +0.02%) reported Q2 EPS of $ 1.05, better than consensus of $ 1.00.

ARRIS (ARRS -0.89%) reported Q1 adjusted EPS of 44 cents, right on consensus

Hologic (HOLX -1.15%) reported Q2 EPS of 41 cents, above consensus of 39 cents, and then raised guidance on fiscal 2015 EPS view to $ 1.57-$ 1.59, above consensus of $ 1.57.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.30%) this morning are down -4.75 points (-0.23%). Wednesday’s closes: S&P 500 -0.37%, Dow Jones -0.41%, Nasdaq -0.60%. The S&P 500 index on Wednesday closed lower on the weak U.S. Q1 GDP report of +0.2% (q/q annualized) versus expectations of +1.0%. There was also weakness in health-care stocks after Humana plunged 6% on disappointing earnings news.

Jun 10-year T-notes (ZNM15 -0.04%) this morning are down -0.5 of a tick. Wednesday’s closes: TYM5 -14.00, FVM5 -5.00. Jun 10-year T-notes on Wednesday fell sharply to post a new 1-1/4 month low as the 10-year T-note breakeven inflation rate climbed to a 5-1/2 month high. In addition, there was some negative carry-over from the decline in German bund prices to a 1-1/4 month low.

The dollar index (DXY00 -0.39%) this morning is down -0.423 (-0.44%) to a fresh 2-month low. EUR/USD (^EURUSD) is up +0.0065 (+0.58%) to a 2-month high. USD/JPY (^USDJPY) is down -0.07 (-0.06%) to a 1-month low. Wednesday’s closes: Dollar Index -0.883 (-0.92%), EUR/USD +0.01467 (+1.34%), USD/JPY +0.159 (+0.13%). The dollar index on Wednesday fell to a 2-month low on the weaker-than-expected U.S. Q1 GDP report of +0.2% versus expectations of +1.0%. EUR/USD rallied to a 1-3/4 month high after the Eurozone Apr business climate indicator unexpectedly rose to an 11-month high.

Jun WTI crude oil (CLM15 +1.02%) this morning is up +52 cents (+0.89%) to a new 4-1/2 month high and Jun gasoline (RBM15 +0.61%) is up +0.0067 (+0.33%). Wednesday’s closes: CLM5 +1.52 (+2.66%), RBM5 +0.0061 (+0.31%). Jun crude oil and gasoline prices on Wednesday climbed to 4-1/2 month highs on the plunge in the dollar index to a 2-month low and on the -514,000 bbl decline in crude supplies at Cushing, which was the first decline in 21 weeks.

GLOBAL EVENT CALENDAR04/30/2015
US0830 ETWeekly initial unemployment claims expected -5,000 to 290,000, previous +1,000 to 295,000. Weekly continuing claims expected -25,000 to 2.300 million, previous +50,000 to 2.325 million.
0830 ETMar personal spending expected +0.5%, Feb +0.1%. Mar personal income expected +0.2%, Feb +0.4%.
0830 ETMar PCE deflator expected +0.2% m/m and +0.4% y/y, Feb +0.2% m/m and +0.3% y/y. Mar core PCE deflator expected +0.2% m/m and +1.4% y/y, Feb +0.1% m/m and +1.4% y/y.
0830 ETQ1 employment cost index expected +0.6%, Q4 +0.6%.
0830 ETUSDA weekly Export Sales.
0900 ETApr Milwaukee ISM expected -0.25 to 53.00, Mar +2.93 to 53.25.
0945 ETApr Chicago PMI expected +3.7 to 50.0, Mar +0.5 to 46.3.
JPN0100 ETJapan Mar housing starts expected -1.9% y/y to 892,000 annualized, Feb -3.1% y/y to 905,000 annualized.
0100 ETJapan Mar construction orders, Feb +1.0% y/y.
1930 ETJapan Mar jobless rate expected unch at 3.5%. Mar job-to-applicant ratio expected unch at 1.15.
1930 ETJapan Mar overall household spending expected -11.8% y/y, Feb -2.9% y/y.
1930 ETJapan Mar national CPI expected +2.2% y/y, Feb +2.2% y/y. Mar national CPI ex-fresh food expected +2.0% y/y, Feb +2.0% y/y. Mar national CPI ex food & energy expected +2.0% y/y, Feb +2.0% y/y.
1930 ETJapan Apr Tokyo CPI expected +0.7% y/y, Mar +2.3% y/y. Apr Tokyo CPI ex-fresh food expected +0.5% y/y, Mar +2.2% y/y. Apr Tokyo CPI ex food & energy expected +0.2% y/y, Mar +1.7% y/y.
2130 ETJapan Mar labor cash earnings expected +0.4% y/y, Feb +0.1% y/y. Mar real cash earnings, Feb -2.3% y/y.
2135 ETRevised Japan Apr Markit/JMMA manufacturing PMI.
GER0200 ETGerman Mar retail sales expected +0.5% m/m and +3.1% y/y, Feb -0.1% m/m and +3.1% y/y.
0355 ETGerman Apr unemployment change expected -15,000, Mar -14,000. Apr unemployment rate expected unch at 6.4%.
UK0430 ETUK Apr Lloyds business barometer, Mar 53.
EUR0500 ETEurozone Apr CPI estimate expected unch y/y, Mar -0.1% y/y. Apr core CPI expected +0.6% y/y, Mar +0.6% y/y.
0500 ETEurozone Mar unemployment rate expected -0.1 to 11.2%, Feb 11.3%.
CHI2100 ETChina Apr manufacturing PMI expected -0.1 to 50.0, Mar 50.1. Apr non-manufacturing PMI, Mar 53.7.
U.S. STOCK CALENDAR04/30/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Air Products & Chemicals IncAPD USBef-mktQ2 2015 Earnings ReleaseQ2 20151.547
Airgas IncARG USBef-mktQ4 2015 Earnings ReleaseQ4 20151.143
Automatic Data Processing IncADP USBef-mktQ3 2015 Earnings ReleaseQ3 20151.019
Ball CorpBLL USBef-mktQ1 2015 Earnings ReleaseQ1 20150.79
Coca-Cola Enterprises IncCCE USBef-mktQ1 2015 Earnings ReleaseQ1 20150.403
Colgate-Palmolive CoCL USBef-mktQ1 2015 Earnings ReleaseQ1 20150.659
Host Hotels & Resorts IncHST USBef-mktQ1 2015 Earnings ReleaseQ1 20150.333
Marsh & McLennan Cos IncMMC USBef-mktQ1 2015 Earnings ReleaseQ1 20150.86
NiSource IncNI USBef-mktQ1 2015 Earnings ReleaseQ1 20150.809
ConocoPhillipsCOP USBef-mktQ1 2015 Earnings ReleaseQ1 2015-0.218
Pitney Bowes IncPBI USBef-mktQ1 2015 Earnings ReleaseQ1 20150.406
SCANA CorpSCG USBef-mktQ1 2015 Earnings ReleaseQ1 20151.249
Cardinal Health IncCAH USBef-mktQ3 2015 Earnings ReleaseQ3 20151.157
Celgene CorpCELG USBef-mktQ1 2015 Earnings ReleaseQ1 20151.059
BorgWarner IncBWA USBef-mktQ1 2015 Earnings ReleaseQ1 20150.842
Martin Marietta Materials IncMLM USBef-mktQ1 2015 Earnings ReleaseQ1 20150.096
AmerisourceBergen CorpABC USBef-mktQ2 2015 Earnings ReleaseQ2 20151.189
Rockwell Automation IncROK USBef-mktQ2 2015 Earnings ReleaseQ2 20151.418
L-3 Communications Holdings IncLLL USBef-mktQ1 2015 Earnings ReleaseQ1 20151.542
Quanta Services IncPWR USBef-mktQ1 2015 Earnings ReleaseQ1 20150.405
CME Group Inc/ILCME USBef-mktQ1 2015 Earnings ReleaseQ1 20150.948
Time Warner Cable IncTWC USBef-mktQ1 2015 Earnings ReleaseQ1 20151.884
Xcel Energy IncXEL USBef-mktQ1 2015 Earnings ReleaseQ1 20150.493
Fidelity National Information Services IncFIS USBef-mktQ1 2015 Earnings ReleaseQ1 20150.654
Viacom IncVIAB USBef-mktQ2 2015 Earnings ReleaseQ2 20151.064
Marathon Petroleum CorpMPC USBef-mktQ1 2015 Earnings ReleaseQ1 20152.854
Delphi Automotive PLCDLPH USBef-mktQ1 2015 Earnings ReleaseQ1 20151.173
Allegion PLCALLE USBef-mktQ1 2015 Earnings ReleaseQ1 20150.468
Cigna CorpCI US6:30Q1 2015 Earnings ReleaseQ1 20151.845
American Tower CorpAMT US7:00Q1 2015 Earnings ReleaseQ1 20151.11
Sealed Air CorpSEE US7:00Q1 2015 Earnings ReleaseQ1 20150.419
Mosaic Co/TheMOS US7:00Q1 2015 Earnings ReleaseQ1 20150.742
Xylem Inc/NYXYL US7:00Q1 2015 Earnings ReleaseQ1 20150.313
Invesco LtdIVZ US7:30Q1 2015 Earnings ReleaseQ1 20150.603
Zimmer Holdings IncZMH US7:30Q1 2015 Earnings ReleaseQ1 20151.583
Exxon Mobil CorpXOM US8:00Q1 2015 Earnings ReleaseQ1 20150.821
Harman International Industries IncHAR US8:00Q3 2015 Earnings ReleaseQ3 20151.274
Pitney Bowes IncPBI US8:00Q1 2015 Earnings CallQ1 2015
Morgan StanleyMS US8:00Fixed Income Investor Call
Zimmer Holdings IncZMH US8:00Q1 2015 Earnings CallQ1 2015
Phillips 66PSX US8:00Q1 2015 Earnings ReleaseQ1 20151.432
Automatic Data Processing IncADP US8:30Q3 2015 Earnings CallQ3 2015
Cigna CorpCI US8:30Q1 2015 Earnings CallQ1 2015
Marsh & McLennan Cos IncMMC US8:30Q1 2015 Earnings CallQ1 2015
Cardinal Health IncCAH US8:30Q3 2015 Earnings CallQ3 2015
Rockwell Automation IncROK US8:30Q2 2015 Earnings CallQ2 2015
American Tower CorpAMT US8:30Q1 2015 Earnings CallQ1 2015
Sealed Air CorpSEE US8:30Q1 2015 Earnings CallQ1 2015
CME Group Inc/ILCME US8:30Q1 2015 Earnings CallQ1 2015
Time Warner Cable IncTWC US8:30Q1 2015 Earnings CallQ1 2015
Fidelity National Information Services IncFIS US8:30Q1 2015 Earnings CallQ1 2015
Viacom IncVIAB US8:30Q2 2015 Earnings CallQ2 2015
Delphi Automotive PLCDLPH US8:30Q1 2015 Earnings CallQ1 2015
Allegion PLCALLE US8:30Q1 2015 Earnings CallQ1 2015
Host Hotels & Resorts IncHST US9:00Q1 2015 Earnings CallQ1 2015
NiSource IncNI US9:00Q1 2015 Earnings CallQ1 2015
Eversource EnergyES US9:00Q1 2015 Earnings CallQ1 2015
SCANA CorpSCG US9:00Annual General MeetingY 2015
Unum GroupUNM US9:00Q1 2015 Earnings CallQ1 2015
Celgene CorpCELG US9:00Q1 2015 Earnings CallQ1 2015
Noble Corp plcNE US9:00Q1 2015 Earnings CallQ1 2015
Invesco LtdIVZ US9:00Q1 2015 Earnings CallQ1 2015
QEP Resources IncQEP US9:00Q1 2015 Earnings CallQ1 2015
Mosaic Co/TheMOS US9:00Q1 2015 Earnings CallQ1 2015
Xylem Inc/NYXYL US9:00Q1 2015 Earnings CallQ1 2015
Williams Cos Inc/TheWMB US9:30Q1 2015 Earnings CallQ1 2015
BorgWarner IncBWA US9:30Q1 2015 Earnings CallQ1 2015
Quanta Services IncPWR US9:30Q1 2015 Earnings CallQ1 2015
Air Products & Chemicals IncAPD US10:00Q2 2015 Earnings CallQ2 2015
Coca-Cola Enterprises IncCCE US10:00Q1 2015 Earnings CallQ1 2015
EMC Corp/MAEMC US10:00Annual General Meeting
Lincoln National CorpLNC US10:00Q1 2015 Earnings CallQ1 2015
Marriott International Inc/MDMAR US10:00Q1 2015 Earnings CallQ1 2015
Xcel Energy IncXEL US10:00Q1 2015 Earnings CallQ1 2015
Marathon Petroleum CorpMPC US10:00Q1 2015 Earnings CallQ1 2015
Airgas IncARG US11:00Q4 2015 Earnings CallQ4 2015
Ball CorpBLL US11:00Q1 2015 Earnings CallQ1 2015
Colgate-Palmolive CoCL US11:00Q1 2015 Earnings CallQ1 2015
Corning IncGLW US11:00Annual General MeetingY 2015
Exxon Mobil CorpXOM US11:00Q1 2015 Earnings CallQ1 2015
Harman International Industries IncHAR US11:00Q3 2015 Earnings CallQ3 2015
Snap-on IncSNA US11:00Annual General MeetingY 2015
Torchmark CorpTMK US11:00Annual General MeetingY 2015
Ensco PLCESV US11:00Q1 2015 Earnings CallQ1 2015
AmerisourceBergen CorpABC US11:00Q2 2015 Earnings CallQ2 2015
Valero Energy CorpVLO US11:00Annual General MeetingY 2015
L-3 Communications Holdings IncLLL US11:00Q1 2015 Earnings CallQ1 2015
ConocoPhillipsCOP US12:00Q1 2015 Earnings CallQ1 2015
HCP IncHCP US12:30Annual General MeetingY 2015
Murphy Oil CorpMUR US13:00Q1 2015 Earnings CallQ1 2015
Phillips 66PSX US13:00Q1 2015 Earnings CallQ1 2015
Macerich Co/TheMAC US13:30Q1 2015 Earnings CallQ1 2015
Martin Marietta Materials IncMLM US14:00Q1 2015 Earnings CallQ1 2015
Realty Income CorpO US14:30Q1 2015 Earnings CallQ1 2015
SCANA CorpSCG US15:00Q1 2015 Earnings CallQ1 2015
HCA Holdings IncHCA US15:00Annual General MeetingY 2015
Western Union Co/TheWU US16:00Q1 2015 Earnings ReleaseQ1 20150.38
Gilead Sciences IncGILD US16:05Q1 2015 Earnings ReleaseQ1 20152.32
Gilead Sciences IncGILD US16:30Q1 2015 Earnings CallQ1 2015
Western Union Co/TheWU US16:30Q1 2015 Earnings CallQ1 2015
Expedia IncEXPE US16:30Q1 2015 Earnings CallQ1 2015
PerkinElmer IncPKI US17:00Q1 2015 Earnings CallQ1 2015
Skyworks Solutions IncSWKS US17:00Q2 2015 Earnings CallQ2 2015
Eastman Chemical CoEMN US17:00Q1 2015 Earnings ReleaseQ1 20151.595
First Solar IncFSLR US17:00Q1 2015 Earnings CallQ1 2015
Visa IncV US17:00Q2 2015 Earnings CallQ2 2015
American International Group IncAIG USAft-mktQ1 2015 Earnings ReleaseQ1 20151.194
PerkinElmer IncPKI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.462
Leggett & Platt IncLEG USAft-mktQ1 2015 Earnings ReleaseQ1 20150.452
Public StoragePSA USAft-mktQ1 2015 Earnings ReleaseQ1 20151.95
Skyworks Solutions IncSWKS USAft-mktQ2 2015 Earnings ReleaseQ2 20151.127
Flowserve CorpFLS USAft-mktQ1 2015 Earnings ReleaseQ1 20150.701
Apartment Investment & Management CoAIV USAft-mktQ1 2015 Earnings ReleaseQ1 20150.513
Fluor CorpFLR USAft-mktQ1 2015 Earnings ReleaseQ1 20150.984
Expedia IncEXPE USAft-mktQ1 2015 Earnings ReleaseQ1 20150.065
First Solar IncFSLR USAft-mktQ1 2015 Earnings ReleaseQ1 2015-0.284
Visa IncV USAft-mktQ2 2015 Earnings ReleaseQ2 20150.624
Fluor CorpFLR US17:30Q1 2015 Earnings CallQ1 2015
EOG Resources IncEOG USAnnual General Meeting
HCP IncHCP USAnnual General Meeting
Kimberly-Clark CorpKMB USAnnual General Meeting
Public StoragePSA USAnnual General Meeting
Capital One Financial CorpCOF USAnnual General Meeting
Fluor CorpFLR USAnnual General MeetingY 2015
Mead Johnson Nutrition CoMJN USAnnual General Meeting

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