Thu Oct 29 2015
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Live Index – Thu, 29 Oct 2015 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ15 -0.40%) are down -0.37% and European stocks are down -0.41% after the Fed said yesterday it is still considering an interest rate increase this year. The markets await today’s data on U.S. Q3 GDP and weekly initial unemployment claims to see if the economy is strong enough to handle an interest rate hike. Weakness in bank stocks is undercutting European equities with Deutsche Bank AG and Barclays PLC both down at least 4.5%. Asian stocks settled mixed: Japan +0.17%, Hong Kong -0.60%, China +0.36%, Taiwan -1.10%, Australia -1.28%, Singapore -1.28%, South Korea -0.34%, India -0.75%. China’s Shanghai Composite closed higher on speculation the Chinese government will provide additional stimulus to spur growth after Premier Li Keqiang said that China needs annual growth of at least 6.53% over the next 5 years to meet the government’s goal for a “moderately prosperous society.” Japan’s Nikkei Stock Index closed higher as the BOJ began a 2-day policy meeting today.

The dollar index (DXY00 -0.38%) is down -0.46%. EUR/USD (^EURUSD) is up +0.39% after an unexpected increase in Eurozone Oct economic confidence to a more than 4-year high reduces the chances of additional easing from the ECB. USD/JPY (^USDJPY) is down -0.18% after stronger-than-expected Japan Sep industrial production curbed speculation the BOJ will expand QE and boosted the yen.

Dec T-note prices (ZNZ15 -0.06%) are down -1 tick at a 1-month low after the Fed yesterday left open the possibility of an interest rate increase at the Dec FOMC meeting.

Eurozone Oct economic confidence unexpectedly rose +0.3 to 105.9, stronger than expectations of -0.5 to 105.1 and the highest in 4-1/3 years.

Japan Sep industrial production rose +1.0% m/m and fell -0.9% y/y, stronger than expectations of -0.6% m/m and -2.6% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected +6,000 to 265,000, previous +3,000 to 259,000) and continuing claims (expected -10,000 to 2.160 million, previous +6,000 to 2.170 million), (2) Q3 GDP (expected +1.5% after Q2’s +3.9%), (3) Sep pending home sales (expected +1.0% m/m and +7.3% y/y, Aug -1.4% m/m and +6.7% y/y), and (4) the Treasury’s auction of $ 29 billion 7-year T-notes.

There are 48 of the S&P 500 companies that report earnings today with notable reports including: MasterCard (consensus $ 0.88), Starbucks (0.43), Coca-Cola Enterprises (0.82), Johnson Controls (1.01), ConocoPhillips (-0.38), CME Group (0.99), Time Warner Cable (1.55), Marathon Petroleum (1.82), Electronic Arts (0.45), First Solar (1.56), Expedia (2.03).

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

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

 

 

 

PREMARKET U.S. STOCKS

PayPal (PYPL +1.61%) fell 6% in pre-market trading after it reported Q3 EPS of 31 cents, better than consensus of 29 cents, but reported Q3 revenue of $ 2.26 billion, less than consensus of $ 2.28 billion.

Allergan Plc (AGN +0.50%) jumped 14% in pre-market trading after the WSJ reported it is considering a merger with Pfizer.

CME Group (CME +2.18%) reported Q3 EPS of $ 1.06, better than consensus of 99 cents.

Amgen (AMGN +0.43%) rose over 1% in after-hours trading after it reported Q3 adjusted EPS of $ 2.72, well above consensus of $ 2.37, and then raised guidance on fiscal 2015 EPS to $ 9.95-$ 10.10 from a July estimate of $ 9.55-$ 9.80, above consensus of $ 9.77.

Aetna (AET +0.40%) reported Q3 EPS of $ 1.90, higher than consensus of $ 1.77.

FMC Corp. (FMC +3.39%) climbed 1% in after-hours trading after it reported adjusted Q3 EPS of 42 cents, better than consensus of 38 cents.

Yelp (YELP -3.62%) rallied over 2% in after-hours trading after it raised guidance on fiscal 2015 revenue to $ 545.5 million-$ 551.5 million from a prior estimate of $ 544 million-$ 550 million, above consensus of $ 545.7 million.

GoPro (GPRO +7.01%) tumbled 12% in after-hours trading after it reported Q3 EPS of 25 cents, weaker than consensus of 29 cents.

Pilgrim’s Pride (PPC +0.26%) fell 4% in after-hours trading after it reported Q3 adjusted EPS of 58 cents, well below consensus of 72 cents.

F5 Networks (FFIV +0.87%) fell over 4% in after-hours trading after it reported Q4 EPS of $ 1.84, better than consensus of $ 1.74, but then lowered guidance on Q1 EPS to $ 1.58-$ 1.61, below consensus of $ 1.71.

Vertex Pharmaceuticals (VRTX -0.75%) rose almost 6% in after-hours trading after it posted a Q3 EPS loss of -13 cents, a smaller loss than consensus of -31 cents.

HanesBrands (HBI +2.03%) jumped over 10% in after-hours trading after it reported adjusted Q3 EPS of 50 cents, above consensus of 45 cents, and then raised guidance on fiscal 2015 EPS to $ 1.66-$ 1.68 from a prior view of $ 1.61-$ 1.66, above consensus of $ 1.64.

SunPower (SPWR +3.53%) gained over 4% in after-hours trading after it reported Q3 EPS of 13 cents, better than consensus of break even.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 -0.40%) this morning are down -7.75 points (-0.37%). Wednesday’s closes: S&P 500 +1.18%, Dow Jones +1.13%, Nasdaq +0.85%. The S&P 500 on Wednesday rose to a 2-1/4 month high and closed higher on strength in energy producers as crude oil rallied and on underlying support from mostly better-than-expected Q3 company earnings results. Stocks fell back briefly after the Fed said in its post-FOMC statement that the economy is still expanding at a “moderate” pace and that they will consider a rate increase at the December meeting.

Dec 10-year T-notes (ZNZ15 -0.06%) this morning are down -1 tick at a fresh 1-month low. Wednesday’s closes: TYZ5 -23.00, FVZ5 -17.75. Dec T-notes on Wednesday slid to a 1-month low and closed lower on the Fed’s post-FOMC meeting statement that left open the possibility of a an interest rate increase at the Dec meeting and on reduced safe-haven demand with the rally in the S&P 500 to a 2-1/4 month high.

The dollar index (DXY00 -0.38%) this morning is down -0.452 (-0.46%). EUR/USD (^EURUSD) is up +0.0043 (+0.39%). USD/JPY (^USDJPY) is down -0.22 (-0.18%). Wednesday’s closes: Dollar Index +0.876 (+0.90%), EUR/USD -0.0128 (-1.16%), USD/JPY +0.63 (+0.52%). The dollar index on Wednesday shed early losses and rallied to a 2-1/2 month high on the post-FOMC meeting statement that left open the possibility of an interest rate increase at the Dec meeting. In addition, there was weakness in EUR/USD, which fell to a 2-1/2 month low, after ECB Executive Board member Coeure said that the ECB may expand stimulus if inflation remains below the ECB’s 2.0% target.

Dec crude oil (CLZ15 -1.37%) this morning is down -68 cents (-1.48%) and Dec gasoline (RBZ15 -1.34%) is down -0.0207 (-1.55%). Wednesday’s closes: CLZ5 +2.98 (+6.90%), RBZ5 +0.0613 (+4.80%). Dec crude and gasoline prices closed sharply higher on Wednesday with Dec crude at a 1-week high and Dec gasoline at a 2-week high. Crude oil prices found support on short-covering and the EIA report where distillate inventories fell by -2.95 million bbl (vs expectations of -1.75 million bbl) and Cushing crude oil inventories fell by -785,000 bbls.

GLOBAL EVENT CALENDAR10/29/2015
US 0830 ET Weekly initial unemployment claims expected +6,000 to 265,000, previous +3,000 to 259,000. Weekly continuing claims expected -10,000 to 2.160 million, previous +6,000 to 2.170 million.
0830 ET Q3 GDP expected +1.5% (q/q annualized), Q2 +3.9%. Q3 personal consumption expected +3.3%, Q2 +3.6%. Q3 GDP price index expected +1.4%, Q2 +2.1%. Q3 core PCE deflator expected +1.4%, Q2 +1.9%.
0830 ET USDA weekly Export Sales.
1000 ET Sep pending home sales expected +1.0% m/m and +7.3% y/y, Aug -1.4% m/m and +6.7% y/y.
1300 ET Treasury auctions $ 29 billion 7-year T-notes.
UK 0300 ET UK Oct nationwide house prices expected +0.5% m/m and +3.8% y/y, Sep +0.5% m/m and +3.8% y/y.
0530 ET UK Sep net consumer credit expected +1.1 billion pounds, Aug +0.9 billion pounds.
0530 ET UK Sep mortgage approvals expected 72,400, Aug 71,000.
0530 ET UK Sep money supply, Aug -0.4% m/m and -0.1% y/y.
0700 ET UK Oct CBI reported sales expected -14 to 35, Sep 49.
2005 ET UK Oct GfK consumer confidence expected +1 to 4, Sep 3.
GER 0455 ET German Oct unemployment change expected -4,000, Sep +2,000. Oct unemployment rate expected unch at 6.4%.
0900 ET German Oct CPI (EU harmonized) expected -0.1% m/m and unch y/y, Sep -0.3% m/m and -0.2% y/y.
EUR 0600 ET Eurozone Oct economic confidence expected -0.5 to 105.1, Sep 105.6. Oct business climate indicator expected 0.03 to 0.31, Sep 0.34.
0600 ET Revised Eurozone Oct consumer confidence, previous -0.6 to -7.7.
JPN 1930 ET Japan Sep jobless rate expected unch at 3.4%. Sep job-to-applicant ratio expected +0.01 to 1.24, Aug 1.23.
1930 ET Japan Sep overall household spending expected +1.1% y/y, Aug +2.9% y/y.
1930 ET Japan Sep national CPI expected unch y/y, Aug +0.2% y/y. Sep national CPI ex fresh food expected -0.2% y/y, Aug -0.1% y/y. Sep national CPI ex food & energy expected +0.9% y/y, Aug +0.8% y/y.
1930 ET Japan Tokyo Oct CPI expected unch y/y, Sep -0.1% y/y. Tokyo Oct CPI ex-fresh food expected -0.2% y/y, Sep -0.2% y/y. Tokyo Oct CPI ex food & energy expected +0.5% y/y, Sep +0.6% y/y.
U.S. STOCK CALENDAR10/29/2015
Company Ticker Time Event Description Period Estimate
Air Products & Chemicals Inc APD US Bef-mkt Q4 2015 Earnings Release Q4 2015 1.803
CMS Energy Corp CMS US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.495
Coca-Cola Enterprises Inc CCE US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.815
Goodyear Tire & Rubber Co/The GT US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.968
Johnson Controls Inc JCI US Bef-mkt Q4 2015 Earnings Release Q4 2015 1.009
Host Hotels & Resorts Inc HST US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.32
PPL Corp PPL US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.496
ConocoPhillips COP US Bef-mkt Q3 2015 Earnings Release Q3 2015 -0.378
Pitney Bowes Inc PBI US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.438
Praxair Inc PX US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.447
SCANA Corp SCG US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.96
Sherwin-Williams Co/The SHW US Bef-mkt Q3 2015 Earnings Release Q3 2015 3.866
BorgWarner Inc BWA US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.701
McKesson Corp MCK US Bef-mkt Q2 2016 Earnings Release Q2 2016 2.99
AmerisourceBergen Corp ABC US Bef-mkt Q4 2015 Earnings Release Q4 2015 1.182
Alexion Pharmaceuticals Inc ALXN US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.008
L-3 Communications Holdings Inc LLL US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.816
CME Group Inc/IL CME US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.991
Time Warner Cable Inc TWC US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.552
Xcel Energy Inc XEL US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.803
MasterCard Inc MA US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.875
Marathon Petroleum Corp MPC US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.819
Delphi Automotive PLC DLPH US Bef-mkt Q3 2015 Earnings Release Q3 2015 1.271
Allegion PLC ALLE US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.778
Baxalta Inc BXLT US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.488
Aetna Inc AET US 6:00 Q3 2015 Earnings Release Q3 2015 1.767
Xylem Inc/NY XYL US 6:55 Q3 2015 Earnings Release Q3 2015 0.479
Avery Dennison Corp AVY US 7:00 Q3 2015 Earnings Release Q3 2015 0.844
Altria Group Inc MO US 7:00 Q3 2015 Earnings Release Q3 2015 0.753
Invesco Ltd IVZ US 7:00 Q3 2015 Earnings Release Q3 2015 0.619
American Tower Corp AMT US 7:00 Q3 2015 Earnings Release Q3 2015 1.15
Zimmer Biomet Holdings Inc ZBH US 7:30 Q3 2015 Earnings Release Q3 2015 1.56
Harman International Industries Inc HAR US 8:00 Q1 2016 Earnings Release Q1 2016 1.404
Pitney Bowes Inc PBI US 8:00 Q3 2015 Earnings Call Q3 2015
Zimmer Biomet Holdings Inc ZBH US 8:00 Q3 2015 Earnings Call Q3 2015
PPL Corp PPL US 8:30 Q3 2015 Earnings Call Q3 2015
Tesoro Corp TSO US 8:30 Q3 2015 Earnings Call Q3 2015
McKesson Corp MCK US 8:30 Q2 2016 Earnings Call Q2 2016
American Tower Corp AMT US 8:30 Q3 2015 Earnings Call Q3 2015
Aetna Inc AET US 8:30 Q3 2015 Earnings Call Q3 2015
CME Group Inc/IL CME US 8:30 Q3 2015 Earnings Call Q3 2015
Time Warner Cable Inc TWC US 8:30 Q3 2015 Earnings Call Q3 2015
Delphi Automotive PLC DLPH US 8:30 Q3 2015 Earnings Call Q3 2015
Allegion PLC ALLE US 8:30 Q3 2015 Earnings Call Q3 2015
Baxalta Inc BXLT US 8:30 Q3 2015 Earnings Call Q3 2015
Ball Corp BLL US 9:00 Q3 2015 Earnings Release Q3 2015 0.954
CMS Energy Corp CMS US 9:00 Q3 2015 Earnings Call Q3 2015
FMC Corp FMC US 9:00 Q3 2015 Earnings Call Q3 2015
Goodyear Tire & Rubber Co/The GT US 9:00 Q3 2015 Earnings Call Q3 2015
Host Hotels & Resorts Inc HST US 9:00 Q3 2015 Earnings Call Q3 2015
Altria Group Inc MO US 9:00 Q3 2015 Earnings Call Q3 2015
Unum Group UNM US 9:00 Q3 2015 Earnings Call Q3 2015
Williams Cos Inc/The WMB US 9:00 Q3 2015 Earnings Call Q3 2015
Range Resources Corp RRC US 9:00 Q3 2015 Earnings Call Q3 2015
Invesco Ltd IVZ US 9:00 Q3 2015 Earnings Call Q3 2015
MasterCard Inc MA US 9:00 Q3 2015 Earnings Call Q3 2015
Xylem Inc/NY XYL US 9:00 Q3 2015 Earnings Call Q3 2015
BorgWarner Inc BWA US 9:30 Q3 2015 Earnings Call Q3 2015
Air Products & Chemicals Inc APD US 10:00 Q4 2015 Earnings Call Q4 2015
Avery Dennison Corp AVY US 10:00 Q3 2015 Earnings Call Q3 2015
Coca-Cola Enterprises Inc CCE US 10:00 Q3 2015 Earnings Call Q3 2015
Lincoln National Corp LNC US 10:00 Q3 2015 Earnings Call Q3 2015
Newmont Mining Corp NEM US 10:00 Q3 2015 Earnings Call Q3 2015
Alexion Pharmaceuticals Inc ALXN US 10:00 Q3 2015 Earnings Call Q3 2015
Marriott International Inc/MD MAR US 10:00 Q3 2015 Earnings Call Q3 2015
Xcel Energy Inc XEL US 10:00 Q3 2015 Earnings Call Q3 2015
Marathon Petroleum Corp MPC US 10:00 Q3 2015 Earnings Call Q3 2015
Ball Corp BLL US 11:00 Q3 2015 Earnings Call Q3 2015
Harman International Industries Inc HAR US 11:00 Q1 2016 Earnings Call Q1 2016
Johnson Controls Inc JCI US 11:00 Q4 2015 Earnings Call Q4 2015
Praxair Inc PX US 11:00 Q3 2015 Earnings Call Q3 2015
Citigroup Inc C US 11:00 Q3 2015 Earnings Call – Fixed Income C3 2015
Sherwin-Williams Co/The SHW US 11:00 Q3 2015 Earnings Call Q3 2015
Ensco PLC ESV US 11:00 Q3 2015 Earnings Call Q3 2015
O’Reilly Automotive Inc ORLY US 11:00 Q3 2015 Earnings Call Q3 2015
AmerisourceBergen Corp ABC US 11:00 Q4 2015 Earnings Call Q4 2015
L-3 Communications Holdings Inc LLL US 11:00 Q3 2015 Earnings Call Q3 2015
ConocoPhillips COP US 12:00 Q3 2015 Earnings Call Q3 2015
Transocean Ltd RIG US 12:00 Extraordinary Shareholders Meeting Y 2015
Murphy Oil Corp MUR US 13:00 Q3 2015 Earnings Call Q3 2015
Public Storage PSA US 14:00 Q3 2015 Earnings Call Q3 2015
Realty Income Corp O US 14:30 Q3 2015 Earnings Call Q3 2015
SCANA Corp SCG US 15:00 Q3 2015 Earnings Call Q3 2015
Oracle Corp ORCL US 15:00 Financial Analyst Meeting Y 2015
Western Union Co/The WU US 16:30 Q3 2015 Earnings Call Q3 2015
Expedia Inc EXPE US 16:30 Q3 2015 Earnings Call Q3 2015
First Solar Inc FSLR US 16:30 Q3 2015 Earnings Call Q3 2015
Electronic Arts Inc EA US 17:00 Q2 2016 Earnings Call Q2 2016
Starbucks Corp SBUX US 17:00 Q4 2015 Earnings Call Q4 2015
Eastman Chemical Co EMN US 17:00 Q3 2015 Earnings Release Q3 2015 1.843
Republic Services Inc RSG US 17:00 Q3 2015 Earnings Call Q3 2015
Leggett & Platt Inc LEG US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.557
Flowserve Corp FLS US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.791
Electronic Arts Inc EA US Aft-mkt Q2 2016 Earnings Release Q2 2016 0.451
Starbucks Corp SBUX US Aft-mkt Q4 2015 Earnings Release Q4 2015 0.434
Essex Property Trust Inc ESS US Aft-mkt Q3 2015 Earnings Release Q3 2015 2.453
Boston Properties Inc BXP US Aft-mkt Q3 2015 Earnings Release Q3 2015 1.365
Western Union Co/The WU US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.44
FirstEnergy Corp FE US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.883
Republic Services Inc RSG US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.53
Fluor Corp FLR US Aft-mkt Q3 2015 Earnings Release Q3 2015 1.12
Genworth Financial Inc GNW US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.221
Expedia Inc EXPE US Aft-mkt Q3 2015 Earnings Release Q3 2015 2.034
First Solar Inc FSLR US Aft-mkt Q3 2015 Earnings Release Q3 2015 1.564
Fluor Corp FLR US 17:30 Q3 2015 Earnings Call Q3 2015

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