Thu Oct 22 2015
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Live Index – Thu, 22 Oct 2015 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ15 +0.40%) are up +0.37% and European stocks are up +0.22% as better-than-expected company Q3 earnings results gives the market a boost. Texas Instruments and Ebay are both up over 8% in pre-market trading and are leading the overall market higher after reporting strong Q3 earnings results. The markets now await the conclusion of today’s ECB meeting and whether ECB President Draghi will signal if the central bank is moving toward more stimulus. Asian stocks settled mixed: Japan -0.64%, Hong Kong -0.63%, China +1.45%, Taiwan -0.01%, Australia +0.30%, Singapore +0.41%, South Korea -0.81%, India closed for holiday. China’s Shanghai Composite closed higher on signs the government is set to expand funds for infrastructure projects to bolster growth, while Japan’s Nikkei Stock Index closed lower, led by losses in pharmaceutical stocks, after a short-seller report on Valeant Pharmaceuticals International roiled U.S. health-care stocks.

The dollar index (DXY00 +0.06%) is up +0.08% at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.19% at a 1-1/2 week low on speculation ECB President Draghi may signal an expansion of QE at his press conference today following the ECB meeting. USD/JPY (^USDJPY) is down -0.18%.

Dec T-note prices (ZNZ15 -0.06%) are down -3.5 ticks.

 

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected +10,000 to 265,000, previous -7,000 to 255,000) and continuing claims (expected +32,000 to 2.190 million, previous -50,000 to 2.158 million), (2) Sep Chicago Fed national activity index (expected +0.21 to -0.20, Aug -0.92 to -0.41), (3) Aug FHFA house price index (expected +0.5% m/m, Jul +0.6% m/m), (4) Sep existing home sales (expected +1.5% to 5.39 million, Aug -4.8% m/m to 5.31 million), (5) Sep leading indicators (expected unch, Aug +0.1%), (6) Oct Kansas City Fed manufacturing activity (expected -1 to -9, Sep +1 to 8), (7) the Treasury’s auction of $ 7 billion 30-year TIPS.

There are 46 of the S&P 500 companies that report earnings today with notable reports including: Amazon.com (consensus -$ 0.13), Microsoft (0.58), Caterpillar (0.77), Capital One (1.94), AT&T (0.69), PulteGroup (0.43), Southwest Airlines (0.92), Dr Pepper Snapple (1.03), Raytheon (1.43), Nasdaq (0.86), McDonalds (1.28),

U.S. IPO’s scheduled to price today: Fuling Global (FORK), Oasmia Pharmaceutical (OASM).

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

PREMARKET U.S. STOCKS

eBay (EBAY -0.86%) jumped over 8% in pre-market trading after it reported Q3 adjusted EPS of 43 cents, higher than consensus of 40 cents, and then raised guidance on fiscal 2015 EPS to $ 180-$ 1.82 from a July estimate of $ 1.72-$ 1.77, above consensus of $ 1.78.

Texas Instruments (TXN -1.01%) rose over 8% in pre-market trading after it reported Q3 EPS of 76 cents, higher than consensus of 67 cents, and then raised guidance on Q4 EPS to 64 cents-74 cents, above consensus of 62 cents.

Eli Lilly (LLY -1.00%) reported Q3 EPS of 89 cents, higher than consensus of 76 cents, and then raised guidance on fiscal 2015 EPS to $ 3.40-$ 3.45 from a July estimate of $ 3.20-$ 3.30, above consensus of $ 3.28.

Southwest Airlines (LUV -0.82%) reported Q3 EPS of 94 cents, better than consensus of 92 cents

Community Health Systems (CYH -3.34%) slumped over 15% in after-hours trading after it reported Q3 revenue of $ 4.85 billion, below consensus of $ 4.98 billion.

United Rentals (URI +1.50%) climbed nearly 4% in after-hours trading after it reported Q3 EPS of $ 2.57, better than consensus of $ 2.35.

Ameriprise (AMP -0.66%) reported Q3 operating EPS of $ 2.35, above consensus of $ 2.29

Kinder Morgan (KMI -1.60%) slid nearly 5% in after-hours trading after it reported Q3 EPS of 8 cents, well below consensus of 18 cents.

Citrix Systems (CTXS -5.27%) jumped over 7% in after-hours trading after it reported Q3 adjusted EPS of $ 1.04, well above consensus of 84 cents, and then raised guidance on fiscal 2105 EPS to $ 3.85-$ 3.90 from $ 3.65-$ 3.75, above consensus of $ 3.71.

Las Vegas Sands (LVS -1.01%) rose over 3% in after-hours trading after it reported Q3 adjusted EPS of 66 cents, above consensus of 63 cents.

American Express (AXP -0.57%) fell over 4% in after-hours trading after it reported Q3 EPS of $ 1.24, weaker than consensus of $ 1.31, and then lowered guidance on fiscal 2015 EPS to $ 5.20-$ 5.35, below consensus of $ 5.49.

CIT Group (CIT -0.70%) climbed over 2% in after-hours trading after it announced that CEO John Thain will retire effective Mar 2016 and Ellen Alemany will be the new CEO.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 +0.40%) this morning are up +7.50 points (+0.37%). Wednesday’s closes: S&P 500 -0.58%, Dow Jones -0.28%, Nasdaq -0.56%. The S&P 500 on Wednesday closed lower on global growth concerns after Japan Sep exports rose +0.6% y/y, less than expectations of +3.8% y/y and the smallest increase in 13 months. In addition, there was weakness in energy producers and mining stocks after the price of crude oil fell to a 2-1/2 week low and copper dipped to a 1-1/2 week low. Stocks found some underlying support from M&A activity after Western Digital bought SanDisk for $ 19 billion and Lam Research bought KLA-Tencor for $ 10.6 billion.

Dec 10-year T-notes (ZNZ15 -0.06%) this morning are down -3.5 ticks. Wednesday’s closes: TYZ5 +10.00, FVZ5 +3.75. Dec T-notes on Wednesday closed higher on increased safe-haven demand for Treasuries after stocks closed lower and on reduced inflation expectations after crude oil fell to a 2-1/2 week low and copper dropped to a 1-week low.

The dollar index (DXY00 +0.06%) this morning is up +0.076 (+0.06%) at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.0022 (-0.19%) at a 1-1/2 week low. USD/JPY (^USDJPY) is down -0.22 (-0.18%). Wednesday’s closes: Dollar Index +0.122 (+0.13%), EUR/USD -0.0007 (-0.06%), USD/JPY +0.09 (+0.08%). The dollar index on Wednesday rose to a 1-week high and closed higher on weakness in the commodity currencies of Canada and Australia versus the dollar after copper prices fell to a 1-1/2 week low and crude prices fell to a 2-1/2 week low. Also, USD/JPY rallied to a 1-week high on speculation the BOJ may need to expand QE after Japan Sep exports rose at the slowest pace in 13 months.

Dec crude oil (CLZ15 +1.46%) this morning is up +59 cents (+1.31%) and Dec gasoline (RBZ15 +1.85%) is up +0.0215 (+1.67%). Wednesday’s closes: CLZ5 -1.03 (-2.23%), RBZ5 +0.0005 (+0.04%). Dec crude oil and gasoline on Wednesday settled mixed with Dec crude at a 2-1/2 week low. Crude oil prices were undercut by the -3% drop in the Shanghai Composite index and the +8.03 million bbl increase in weekly EIA crude inventories to a 4-1/2 month high versus expectations of a +3.5 million bbl increase. Gasoline prices closed higher after EIA gasoline stockpiles fell -1.52 million bbl, a bigger decline than expectations of -1.0 million bbl.

GLOBAL EVENT CALENDAR10/22/2015
US 0830 ET Weekly initial unemployment claims expected +10,000 to 265,000, previous -7,000 to 255,000. Weekly continuing claims expected +32,000 to 2.190 million, previous -50,000 to 2.158 million.
0830 ET Sep Chicago Fed national activity index expected +0.21 to -0.20, Aug -0.92 to -0.41.
0830 ET USDA weekly Export Sales.
0900 ET Aug FHFA house price index expected +0.5% m/m, Jul +0.6% m/m.
1000 ET Sep existing home sales expected +1.5% to 5.39 million, Aug -4.8% m/m to 5.31 million.
1000 ET Sep leading indicators expected unch, Aug +0.1%.
1100 ET Oct Kansas City Fed manufacturing activity expected -1 to -9, Sep +1 to 8.
1100 ET Treasury 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 Oct 27-29.
1300 ET Treasury auctions $ 7 billion 30-year TIPS.
1500 ET USDA Sep Cold Storage.
UK 0430 ET UK Sep retail sales ex auto fuel expected +0.4% m/m and +4.7% y/y, Aug +0.1% m/m and +3.5% y/y.
0430 ET UK Sep retail sales including auto fuel expected +0.4% m/m and +4.8% y/y, Aug +0.2% m/m and +3.7% y/y.
EUR 0745 ET ECB announces interest rate decision.
0830 ET ECB President Mario Draghi speaks at press conference following ECB meeting.
1000 ET Eurozone Oct consumer confidence expected -0.3 to -7.4, Sep -7.1.
CHI 2130 ET China Sep property prices.
JPN 2135 ET Japan Nikkei Oct manufacturing PMI expected -0.5 to 50.5, Sep 51.0.
U.S. STOCK CALENDAR10/22/2015
Company Ticker Time Event Description Period Estimate
Dow Chemical Co/The DOW US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.688
EQT Corp EQT US Bef-mkt Q3 2015 Earnings Release Q3 2015 -0.216
Freeport-McMoRan Inc FCX US Bef-mkt Q3 2015 Earnings Release Q3 2015 -0.098
Eli Lilly & Co LLY US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.76
Nucor Corp NUE US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.474
Parker-Hannifin Corp PH US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.464
PulteGroup Inc PHM US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.429
Precision Castparts Corp PCP US Bef-mkt Q2 2016 Earnings Release Q2 2016 2.944
Ryder System Inc R US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.731
Snap-on Inc SNA US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.938
Southwest Airlines Co LUV US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.915
Stanley Black & Decker Inc SWK US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.438
Huntington Bancshares Inc/OH HBAN US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.216
T Rowe Price Group Inc TROW US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.14
Cameron International Corp CAM US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.816
Quest Diagnostics Inc DGX US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.26
Mead Johnson Nutrition Co MJN US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.838
Dr Pepper Snapple Group Inc DPS US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.031
Danaher Corp DHR US 6:00 Q3 2015 Earnings Release Q3 2015 1.029
Perrigo Co PLC PRGO US 6:00 Q3 2015 Earnings Release Q3 2015 1.721
American Electric Power Co Inc AEP US 6:58 Q3 2015 Earnings Release Q3 2015 1.002
Raytheon Co RTN US 7:00 Q3 2015 Earnings Release Q3 2015 1.432
Nasdaq Inc NDAQ US 7:00 Q3 2015 Earnings Release Q3 2015 0.863
Under Armour Inc UA US 7:15 Q3 2015 Earnings Release Q3 2015 0.443
Caterpillar Inc CAT US 7:30 Q3 2015 Earnings Release Q3 2015 0.773
3M Co MMM US 7:30 Q3 2015 Earnings Release Q3 2015 1.998
Alliance Data Systems Corp ADS US 7:30 Q3 2015 Earnings Release Q3 2015 3.93
United Continental Holdings Inc UAL US 7:30 Q3 2015 Earnings Release Q3 2015 4.555
McDonald’s Corp MCD US 7:58 Q3 2015 Earnings Release Q3 2015 1.275
Danaher Corp DHR US 8:00 Q3 2015 Earnings Call Q3 2015
Stanley Black & Decker Inc SWK US 8:00 Q3 2015 Earnings Call Q3 2015
Union Pacific Corp UNP US 8:00 Q3 2015 Earnings Release Q3 2015 1.431
Perrigo Co PLC PRGO US 8:00 Q1 2016 Earnings Call Q1 2016
Nasdaq Inc NDAQ US 8:00 Q3 2015 Earnings Call Q3 2015
Equifax Inc EFX US 8:30 Q3 2015 Earnings Call Q3 2015
Franklin Resources Inc BEN US 8:30 Q4 2015 Earnings Release Q4 2015 0.762
Franklin Resources Inc BEN US 8:30 Q4 2015 Earnings Call – Pre-Recorded C4 2015
PulteGroup Inc PHM US 8:30 Q3 2015 Earnings Call Q3 2015
Quest Diagnostics Inc DGX US 8:30 Q3 2015 Earnings Call Q3 2015
Alliance Data Systems Corp ADS US 8:30 Q3 2015 Earnings Call Q3 2015
Under Armour Inc UA US 8:30 Q3 2015 Earnings Call Q3 2015
Union Pacific Corp UNP US 8:45 Q3 2015 Earnings Call Q3 2015
ACE Ltd ACE US 8:45 Extraordinary Shareholders Meeting
American Electric Power Co Inc AEP US 9:00 Q3 2015 Earnings Call Q3 2015
Dow Chemical Co/The DOW US 9:00 Q3 2015 Earnings Call Q3 2015
Eli Lilly & Co LLY US 9:00 Q3 2015 Earnings Call Q3 2015
3M Co MMM US 9:00 Q3 2015 Earnings Call Q3 2015
Raytheon Co RTN US 9:00 Q3 2015 Earnings Call Q3 2015
Ameriprise Financial Inc AMP US 9:00 Q3 2015 Earnings Call Q3 2015
Mead Johnson Nutrition Co MJN US 9:30 Q3 2015 Earnings Call Q3 2015
Freeport-McMoRan Inc FCX US 10:00 Q3 2015 Earnings Call Q3 2015
Parker-Hannifin Corp PH US 10:00 Q1 2016 Earnings Call Q1 2016
Snap-on Inc SNA US 10:00 Q3 2015 Earnings Call Q3 2015
Huntington Bancshares Inc/OH HBAN US 10:00 Q3 2015 Earnings Call Q3 2015
Mead Johnson Nutrition Co MJN US 10:00 Investor Day Y 2015
EQT Corp EQT US 10:30 Q3 2015 Earnings Call Q3 2015
Crown Castle International Corp CCI US 10:30 Q3 2015 Earnings Call Q3 2015
United Continental Holdings Inc UAL US 10:30 Q3 2015 Earnings Call Q3 2015
Caterpillar Inc CAT US 11:00 Q3 2015 Earnings Call Q3 2015
Franklin Resources Inc BEN US 11:00 Q4 2015 Earnings Call Q4 2015
McDonald’s Corp MCD US 11:00 Q3 2015 Earnings Call Q3 2015
Ryder System Inc R US 11:00 Q3 2015 Earnings Call Q3 2015
United Rentals Inc URI US 11:00 Q3 2015 Earnings Call Q3 2015
Red Hat Inc RHT US 11:00 Acquisition of Ansible, Inc. by Red Hat, Inc. Call
Dr Pepper Snapple Group Inc DPS US 11:00 Q3 2015 Earnings Call Q3 2015
Southwest Airlines Co LUV US 12:30 Q3 2015 Earnings Call Q3 2015
Nucor Corp NUE US 14:00 Q3 2015 Earnings Call Q3 2015
SL Green Realty Corp SLG US 14:00 Q3 2015 Earnings Call Q3 2015
Principal Financial Group Inc PFG US 16:00 Q3 2015 Earnings Release Q3 2015 1.056
Capital One Financial Corp COF US 16:05 Q3 2015 Earnings Release Q3 2015 1.939
E*TRADE Financial Corp ETFC US 16:05 Q3 2015 Earnings Release Q3 2015 0.292
VeriSign Inc VRSN US 16:05 Q3 2015 Earnings Release Q3 2015 0.765
Altera Corp ALTR US 16:15 Q3 2015 Earnings Release Q3 2015 0.297
AT&T Inc T US 16:30 Q3 2015 Earnings Call Q3 2015
Stryker Corp SYK US 16:30 Q3 2015 Earnings Call Q3 2015
VeriSign Inc VRSN US 16:30 Q3 2015 Earnings Call Q3 2015
Alphabet Inc GOOGL US 16:30 Q3 2015 Earnings Call Q3 2015
CR Bard Inc BCR US 17:00 Q3 2015 Earnings Call Q3 2015
KLA-Tencor Corp KLAC US 17:00 Q1 2016 Earnings Call Q1 2016
Capital One Financial Corp COF US 17:00 Q3 2015 Earnings Call Q3 2015
Stericycle Inc SRCL US 17:00 Q3 2015 Earnings Call Q3 2015
E*TRADE Financial Corp ETFC US 17:00 Q3 2015 Earnings Call Q3 2015
Amazon.com Inc AMZN US 17:00 Q3 2015 Earnings Call Q3 2015
Juniper Networks Inc JNPR US 17:00 Q3 2015 Earnings Call Q3 2015
CR Bard Inc BCR US Aft-mkt Q3 2015 Earnings Release Q3 2015 2.243
AT&T Inc T US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.688
Southwestern Energy Co SWN US Aft-mkt Q3 2015 Earnings Release Q3 2015 -0.025
Microsoft Corp MSFT US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.584
Stryker Corp SYK US Aft-mkt Q3 2015 Earnings Release Q3 2015 1.226
Stericycle Inc SRCL US Aft-mkt Q3 2015 Earnings Release Q3 2015 1.185
Amazon.com Inc AMZN US Aft-mkt Q3 2015 Earnings Release Q3 2015 -0.133
Juniper Networks Inc JNPR US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.533
Alphabet Inc GOOGL US Aft-mkt Q3 2015 Earnings Release Q3 2015 7.201
Microsoft Corp MSFT US 17:30 Q1 2016 Earnings Call Q1 2016
Chubb Corp/The CB US Extraordinary Shareholders Meeting
Chubb Corp/The CB US Special Meeting – M&A Vote
ACE Ltd ACE US Extraordinary Shareholders Meeting
Hudson City Bancorp Inc HCBK US Q3 2015 Earnings Release Q3 2015 -0.003

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