Wed Oct 21 2015
Live Index (1446 articles)

Live Index – Wed, 21 Oct 2015 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ15 +0.46%) are up +0.46% at a 2-month high and European stocks are up +0.65% on positive carryover from a rally in Japan’s Nikkei Stock Index which climbed to a 6-week high on speculation the BOJ may need to expand QE after Japan exports last month grew at the slowest pace in over a year. Increased M&A activity also gave equities a boost after Lam Research agreed to buy KLA-Tencor Corp. for $ 10.6 billion. Strength in European stocks was limited as Credit Suisse fell over 5% after it said will sell 6.05 billion francs ($ 6.3 billion) in stock to boost capital and meet regulatory requirements. Asian stocks settled mixed: Japan +1.91%, Hong Kong closed for holiday, China -3.06%, Taiwan -0.51%, Australia +0.24%, Singapore +0.22%, South Korea +0.29%, India -0.07%. China’s Shanghai Composite fell back from a 2-month high and closed down over 3% on speculation the recent rally was overdone.

The dollar index (DXY00 -0.05%) is down -0.09%. EUR/USD (^EURUSD) is up +0.12%. USD/JPY (^USDJPY) is up +0.13% at a 1-week high as speculation the BOJ may need to expand QE undercut the yen.

Dec T-note prices (ZNZ15 +0.10%) are up +5.5 ticks.

The Japan Sep trade balance was in deficit by -114.5 billion yen, when expectations were for a surplus of +87.0 billion yen. Sep exports rose +0.6% y/y, less than expectations of +3.8 % y/y and the smallest increase in 13 months. Sep imports fell -11.1% y/y, a smaller decline than expectations of -12.0% y/y, but still the biggest drop in 6 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index -22.5%), (2) Fed Governor Jerome Powell as moderator for a panel on “Repo Markets, Liquidity, and the U.S. Treasury Market” in an event hosted by the New York Fed.

There are 31 of the S&P 500 companies that report earnings today with notable reports including: GM (consensus $ 1.19), AMEX (1.31), Abbott Labs (0.53), Boeing (2.20), Coca-Cola (0.50), Northern Trust (0.96), Citrix (0.84), Texas Instruments (0.67), eBay (0.40), Kinder Morgan (0.18), Motorola Solutions (0.73).

U.S. IPO’s scheduled to price today: Dimension Therapeutics (DMTX), Multi Packaging Solutions (MPSX).

Equity conferences today include: Private Wealth Latin America and The Caribbean Forum on Wed.

PREMARKET U.S. STOCKS

KLA-Tencor Corp. (KLAC +1.39%) surged 19% in pre-market trading after Lam Research agreed to buy the company for $ 10.6 billion.

Tupperware Brands (TUP +0.33%) reported Q3 adjusted EPS of 79 cents, better than consensus of 71 cents.

Coca-Cola (KO +0.71%) reported Q3 EPS of 51 cents, above consensus of 50 cents.

Twitter (TWTR unch) was downgraded to ‘Underweight’ from ‘Equalweight’ at Morgan Stanley.

Terex (TEX +5.13%) fell almost 5% in after-hours trading after it reported Q3 adjusted EPS of 58 cents, below consensus of 62 cents.

FMC Technologies (FTI +0.62%) reported Q3 adjusted EPS of 61 cents, better than consensus of 58 cents, although Q3 revenue of $ 1.55 billion was below consensus of $ 1.67 billion.

IRobot (IRBT +1.66%) fell over 5% in after-hours trading after it reported Q3 EPS of 42 cents, well above consensus of 23 cents, but then lowered guidance on fiscal 2015 sales to $ 610 million-$ 615 million from a previous forecast of $ 625 million-$ 635 million, below consensus of $ 628.4 million.

Discover Financial Services (DFS -0.49%) climbed nearly 1% in after-hours trading after it reported Q3 EPS of $ 1.38, higher than consensus of $ 1.33.

Chipotle Mexican Grill (CMG -1.81%) dropped over 8% in after-hours trading after it reported Q3 EPS of $ 4.59, less than consensus of $ 4.62.

Yahoo! (YHOO -2.00%) slid over 1% in after-hours trading after it reported Q3 adjusted EPS of 15 cents, weaker than consensus of 16 cents.

Rush Enterprises (RUSHA -1.21%) reported Q3 EPS of 48 cents, better than consensus of 47 cents.

Intuitive Surgical (ISRG -1.13%) jumped nearly 8% in after-hours trading after it reported Q3 adjusted EPS of $ 5.24, well above consensus of $ 4.22.

Pinnacle Financial (PNFP +2.21%) reported Q4 EPS of 66 cents, higher than consensus of 64 cents.

Packaging of America (PKG -1.20%) reported Q3 EPS of $ 1.26, below consensus of $ 1.28.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 +0.46%) this morning are up +9.25 points (+0.46%) at a fresh 2-month high. Tuesday’s closes: S&P 500 -0.14%, Dow Jones -0.08%, Nasdaq -0.54%. The S&P 500 on Tuesday retreated from a 2-month high and closed lower on the unexpected -5.0% decline in U.S. Sep building permits to a 6-month low of 1.103 million and the reduced chances for an ECB QE expansion after the ECB’s Bank Lending Survey said that Q3 credit standards eased for the sixth consecutive quarter. Stocks found support from the +1.14% rally in China’s Shanghai Composite to a 1-3/4 month high and the +6.5% increase in U.S. Sep housing starts to 1.206 million, stronger than expectations of +1.4% to 1.142 million.

Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +5.5 ticks. Tuesday’s closes: TYZ5 -13.00, FVZ5 -7.75. Dec T-notes on Tuesday fell to a 1-week low and closed lower on negative carryover from a slide in German bund prices to a 3-week low and on the stronger-than-expected U.S. Sep housing starts report.

The dollar index (DXY00 -0.05%) this morning is down -0.087 (-0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.12%). USD/JPY (^USDJPY) is up +0.15 (+0.13%) at a 1-week high. Tuesday’s closes: Dollar Index -0.015 (-0.02%), EUR/USD +0.0019 (+0.17%), USD/JPY +0.34 (+0.28%). The dollar index on Tuesday closed lower on strength in EUR/USD after ECB Governing Council member Noyer said the ECB’s current bond buying pace is “well calibrated,” which signals he sees no need to expand QE, and after the ECB’s Bank Lending Survey reported that Q3 credit standards on loans to companies eased for the sixth consecutive quarter.

Dec crude oil (CLZ15 -1.27%) this morning is down -58 cents (-1.25%) and Dec gasoline (RBZ15 -0.75%) is down -0.0083 (-0.64%). Tuesday’s closes: CLZ5 -0.36 (-0.78%), RBZ5 +0.0132 (+1.04%). Dec crude oil and gasoline on Tuesday settled mixed. Gasoline prices found support from a weaker dollar and expectations that Wednesday’s EIA report will show gasoline supplies fell -1.0 million bbl. Crude oil fell on expectations that Wednesday’s weekly EIA report will show a +3.5 million bbl increase in crude inventories and a +500,000 bbl increase in Cushing crude oil stockpiles.

GLOBAL EVENT CALENDAR10/21/2015
US0700 ETWeekly MBA mortgage applications, previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index -22.5%.
1030 ETEIA Weekly Petroleum Status Report.
1330 ETFed Governor Jerome Powell moderates a panel on Repo Markets, Liquidity, and the U.S. Treasury Market in an event hosted by the New York Fed.
JPN0030 ETJapan Aug all-industry activity index expected -0.2% m/m, Jul +0.2% m/m.
UK0430 ETUK Sep public sector net borrowing expected +9.6 billion, Aug+11.3 billion pounds.
U.S. STOCK CALENDAR10/21/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Seagate Technology PLCSTX US4:30Annual General MeetingY 2015
Abbott LaboratoriesABT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.534
Baker Hughes IncBHI USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.135
Boeing Co/TheBA USBef-mktQ3 2015 Earnings ReleaseQ3 20152.197
Coca-Cola Co/TheKO USBef-mktQ3 2015 Earnings ReleaseQ3 20150.502
Interpublic Group of Cos Inc/TheIPG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.252
Kimberly-Clark CorpKMB USBef-mktQ3 2015 Earnings ReleaseQ3 20151.493
Thermo Fisher Scientific IncTMO USBef-mktQ3 2015 Earnings ReleaseQ3 20151.789
Biogen IncBIIB USBef-mktQ3 2015 Earnings ReleaseQ3 20153.766
Northern Trust CorpNTRS USBef-mktQ3 2015 Earnings ReleaseQ3 20150.958
Amphenol CorpAPH USBef-mktQ3 2015 Earnings ReleaseQ3 20150.653
General Motors CoGM USBef-mktQ3 2015 Earnings ReleaseQ3 20151.188
Nielsen Holdings PLCNLSN USBef-mktQ3 2015 Earnings ReleaseQ3 20150.688
EMC Corp/MAEMC US7:00Q3 2015 Earnings ReleaseQ3 20150.43
St Jude Medical IncSTJ US7:15Q3 2015 Earnings ReleaseQ3 20150.97
Illinois Tool Works IncITW US8:00Q3 2015 Earnings ReleaseQ3 20151.359
St Jude Medical IncSTJ US8:00Q3 2015 Earnings CallQ3 2015
Navient CorpNAVI US8:00Q3 2015 Earnings CallQ3 2015
Nielsen Holdings PLCNLSN US8:00Q3 2015 Earnings CallQ3 2015
EMC Corp/MAEMC US8:30Q3 2015 Earnings CallQ3 2015
Interpublic Group of Cos Inc/TheIPG US8:30Q3 2015 Earnings CallQ3 2015
Thermo Fisher Scientific IncTMO US8:30Q3 2015 Earnings CallQ3 2015
Biogen IncBIIB US8:30Q3 2015 Earnings CallQ3 2015
ACE LtdACE US8:30Q3 2015 Earnings CallQ3 2015
Abbott LaboratoriesABT US9:00Q3 2015 Earnings CallQ3 2015
FMC Technologies IncFTI US9:00Q3 2015 Earnings CallQ3 2015
Coca-Cola Co/TheKO US9:30Q3 2015 Earnings CallQ3 2015
Illinois Tool Works IncITW US10:00Q3 2015 Earnings CallQ3 2015
Kimberly-Clark CorpKMB US10:00Q3 2015 Earnings CallQ3 2015
General Motors CoGM US10:00Q3 2015 Earnings CallQ3 2015
Boeing Co/TheBA US10:30Q3 2015 Earnings CallQ3 2015
Northern Trust CorpNTRS US12:00Q3 2015 Earnings CallQ3 2015
Amphenol CorpAPH US13:00Q3 2015 Earnings CallQ3 2015
Citrix Systems IncCTXS US16:05Q3 2015 Earnings ReleaseQ3 20150.843
Robert Half International IncRHI US16:15Q3 2015 Earnings ReleaseQ3 20150.731
Texas Instruments IncTXN US16:30Q3 2015 Earnings ReleaseQ3 20150.674
Kinder Morgan Inc/DEKMI US16:30Q3 2015 Earnings CallQ3 2015
Citrix Systems IncCTXS US16:45Q3 2015 Earnings CallQ3 2015
American Express CoAXP US17:00Q3 2015 Earnings CallQ3 2015
CA IncCA US17:00Q2 2016 Earnings CallQ2 2016
Robert Half International IncRHI US17:00Q3 2015 Earnings CallQ3 2015
Lam Research CorpLRCX US17:00Q1 2016 Earnings CallC3 2016
Tractor Supply CoTSCO US17:00Q3 2015 Earnings CallQ3 2015
SanDisk CorpSNDK US17:00Q3 2015 Earnings CallQ3 2015
eBay IncEBAY US17:00Q3 2015 Earnings CallQ3 2015
American Express CoAXP USAft-mktQ3 2015 Earnings ReleaseQ3 20151.311
CA IncCA USAft-mktQ2 2016 Earnings ReleaseQ2 20160.558
Equifax IncEFX USAft-mktQ3 2015 Earnings ReleaseQ3 20151.097
Lam Research CorpLRCX USAft-mktQ1 2016 Earnings ReleaseQ1 20161.719
Tractor Supply CoTSCO USAft-mktQ3 2015 Earnings ReleaseQ3 20150.627
SanDisk CorpSNDK USAft-mktQ3 2015 Earnings ReleaseQ3 20150.798
SL Green Realty CorpSLG USAft-mktQ3 2015 Earnings ReleaseQ3 20151.567
United Rentals IncURI USAft-mktQ3 2015 Earnings ReleaseQ3 20152.355
Crown Castle International CorpCCI USAft-mktQ3 2015 Earnings ReleaseQ3 20151.046
eBay IncEBAY USAft-mktQ3 2015 Earnings ReleaseQ3 20150.401
Ameriprise Financial IncAMP USAft-mktQ3 2015 Earnings ReleaseQ3 20152.287
Kinder Morgan Inc/DEKMI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.182
Texas Instruments IncTXN US17:30Q3 2015 Earnings CallQ3 2015
Motorola Solutions IncMSI USQ3 2015 Earnings ReleaseQ3 20150.725
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