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
US0830 ETWeekly 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 ETQ3 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 ETUSDA weekly Export Sales.
1000 ETSep pending home sales expected +1.0% m/m and +7.3% y/y, Aug -1.4% m/m and +6.7% y/y.
1300 ETTreasury auctions $ 29 billion 7-year T-notes.
UK0300 ETUK 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 ETUK Sep net consumer credit expected +1.1 billion pounds, Aug +0.9 billion pounds.
0530 ETUK Sep mortgage approvals expected 72,400, Aug 71,000.
0530 ETUK Sep money supply, Aug -0.4% m/m and -0.1% y/y.
0700 ETUK Oct CBI reported sales expected -14 to 35, Sep 49.
2005 ETUK Oct GfK consumer confidence expected +1 to 4, Sep 3.
GER0455 ETGerman Oct unemployment change expected -4,000, Sep +2,000. Oct unemployment rate expected unch at 6.4%.
0900 ETGerman Oct CPI (EU harmonized) expected -0.1% m/m and unch y/y, Sep -0.3% m/m and -0.2% y/y.
EUR0600 ETEurozone 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 ETRevised Eurozone Oct consumer confidence, previous -0.6 to -7.7.
JPN1930 ETJapan Sep jobless rate expected unch at 3.4%. Sep job-to-applicant ratio expected +0.01 to 1.24, Aug 1.23.
1930 ETJapan Sep overall household spending expected +1.1% y/y, Aug +2.9% y/y.
1930 ETJapan 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 ETJapan 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
CompanyTickerTimeEvent DescriptionPeriodEstimate
Air Products & Chemicals IncAPD USBef-mktQ4 2015 Earnings ReleaseQ4 20151.803
CMS Energy CorpCMS USBef-mktQ3 2015 Earnings ReleaseQ3 20150.495
Coca-Cola Enterprises IncCCE USBef-mktQ3 2015 Earnings ReleaseQ3 20150.815
Goodyear Tire & Rubber Co/TheGT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.968
Johnson Controls IncJCI USBef-mktQ4 2015 Earnings ReleaseQ4 20151.009
Host Hotels & Resorts IncHST USBef-mktQ3 2015 Earnings ReleaseQ3 20150.32
PPL CorpPPL USBef-mktQ3 2015 Earnings ReleaseQ3 20150.496
ConocoPhillipsCOP USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.378
Pitney Bowes IncPBI USBef-mktQ3 2015 Earnings ReleaseQ3 20150.438
Praxair IncPX USBef-mktQ3 2015 Earnings ReleaseQ3 20151.447
SCANA CorpSCG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.96
Sherwin-Williams Co/TheSHW USBef-mktQ3 2015 Earnings ReleaseQ3 20153.866
BorgWarner IncBWA USBef-mktQ3 2015 Earnings ReleaseQ3 20150.701
McKesson CorpMCK USBef-mktQ2 2016 Earnings ReleaseQ2 20162.99
AmerisourceBergen CorpABC USBef-mktQ4 2015 Earnings ReleaseQ4 20151.182
Alexion Pharmaceuticals IncALXN USBef-mktQ3 2015 Earnings ReleaseQ3 20151.008
L-3 Communications Holdings IncLLL USBef-mktQ3 2015 Earnings ReleaseQ3 20151.816
CME Group Inc/ILCME USBef-mktQ3 2015 Earnings ReleaseQ3 20150.991
Time Warner Cable IncTWC USBef-mktQ3 2015 Earnings ReleaseQ3 20151.552
Xcel Energy IncXEL USBef-mktQ3 2015 Earnings ReleaseQ3 20150.803
MasterCard IncMA USBef-mktQ3 2015 Earnings ReleaseQ3 20150.875
Marathon Petroleum CorpMPC USBef-mktQ3 2015 Earnings ReleaseQ3 20151.819
Delphi Automotive PLCDLPH USBef-mktQ3 2015 Earnings ReleaseQ3 20151.271
Allegion PLCALLE USBef-mktQ3 2015 Earnings ReleaseQ3 20150.778
Baxalta IncBXLT USBef-mktQ3 2015 Earnings ReleaseQ3 20150.488
Aetna IncAET US6:00Q3 2015 Earnings ReleaseQ3 20151.767
Xylem Inc/NYXYL US6:55Q3 2015 Earnings ReleaseQ3 20150.479
Avery Dennison CorpAVY US7:00Q3 2015 Earnings ReleaseQ3 20150.844
Altria Group IncMO US7:00Q3 2015 Earnings ReleaseQ3 20150.753
Invesco LtdIVZ US7:00Q3 2015 Earnings ReleaseQ3 20150.619
American Tower CorpAMT US7:00Q3 2015 Earnings ReleaseQ3 20151.15
Zimmer Biomet Holdings IncZBH US7:30Q3 2015 Earnings ReleaseQ3 20151.56
Harman International Industries IncHAR US8:00Q1 2016 Earnings ReleaseQ1 20161.404
Pitney Bowes IncPBI US8:00Q3 2015 Earnings CallQ3 2015
Zimmer Biomet Holdings IncZBH US8:00Q3 2015 Earnings CallQ3 2015
PPL CorpPPL US8:30Q3 2015 Earnings CallQ3 2015
Tesoro CorpTSO US8:30Q3 2015 Earnings CallQ3 2015
McKesson CorpMCK US8:30Q2 2016 Earnings CallQ2 2016
American Tower CorpAMT US8:30Q3 2015 Earnings CallQ3 2015
Aetna IncAET US8:30Q3 2015 Earnings CallQ3 2015
CME Group Inc/ILCME US8:30Q3 2015 Earnings CallQ3 2015
Time Warner Cable IncTWC US8:30Q3 2015 Earnings CallQ3 2015
Delphi Automotive PLCDLPH US8:30Q3 2015 Earnings CallQ3 2015
Allegion PLCALLE US8:30Q3 2015 Earnings CallQ3 2015
Baxalta IncBXLT US8:30Q3 2015 Earnings CallQ3 2015
Ball CorpBLL US9:00Q3 2015 Earnings ReleaseQ3 20150.954
CMS Energy CorpCMS US9:00Q3 2015 Earnings CallQ3 2015
FMC CorpFMC US9:00Q3 2015 Earnings CallQ3 2015
Goodyear Tire & Rubber Co/TheGT US9:00Q3 2015 Earnings CallQ3 2015
Host Hotels & Resorts IncHST US9:00Q3 2015 Earnings CallQ3 2015
Altria Group IncMO US9:00Q3 2015 Earnings CallQ3 2015
Unum GroupUNM US9:00Q3 2015 Earnings CallQ3 2015
Williams Cos Inc/TheWMB US9:00Q3 2015 Earnings CallQ3 2015
Range Resources CorpRRC US9:00Q3 2015 Earnings CallQ3 2015
Invesco LtdIVZ US9:00Q3 2015 Earnings CallQ3 2015
MasterCard IncMA US9:00Q3 2015 Earnings CallQ3 2015
Xylem Inc/NYXYL US9:00Q3 2015 Earnings CallQ3 2015
BorgWarner IncBWA US9:30Q3 2015 Earnings CallQ3 2015
Air Products & Chemicals IncAPD US10:00Q4 2015 Earnings CallQ4 2015
Avery Dennison CorpAVY US10:00Q3 2015 Earnings CallQ3 2015
Coca-Cola Enterprises IncCCE US10:00Q3 2015 Earnings CallQ3 2015
Lincoln National CorpLNC US10:00Q3 2015 Earnings CallQ3 2015
Newmont Mining CorpNEM US10:00Q3 2015 Earnings CallQ3 2015
Alexion Pharmaceuticals IncALXN US10:00Q3 2015 Earnings CallQ3 2015
Marriott International Inc/MDMAR US10:00Q3 2015 Earnings CallQ3 2015
Xcel Energy IncXEL US10:00Q3 2015 Earnings CallQ3 2015
Marathon Petroleum CorpMPC US10:00Q3 2015 Earnings CallQ3 2015
Ball CorpBLL US11:00Q3 2015 Earnings CallQ3 2015
Harman International Industries IncHAR US11:00Q1 2016 Earnings CallQ1 2016
Johnson Controls IncJCI US11:00Q4 2015 Earnings CallQ4 2015
Praxair IncPX US11:00Q3 2015 Earnings CallQ3 2015
Citigroup IncC US11:00Q3 2015 Earnings Call – Fixed IncomeC3 2015
Sherwin-Williams Co/TheSHW US11:00Q3 2015 Earnings CallQ3 2015
Ensco PLCESV US11:00Q3 2015 Earnings CallQ3 2015
O’Reilly Automotive IncORLY US11:00Q3 2015 Earnings CallQ3 2015
AmerisourceBergen CorpABC US11:00Q4 2015 Earnings CallQ4 2015
L-3 Communications Holdings IncLLL US11:00Q3 2015 Earnings CallQ3 2015
ConocoPhillipsCOP US12:00Q3 2015 Earnings CallQ3 2015
Transocean LtdRIG US12:00Extraordinary Shareholders MeetingY 2015
Murphy Oil CorpMUR US13:00Q3 2015 Earnings CallQ3 2015
Public StoragePSA US14:00Q3 2015 Earnings CallQ3 2015
Realty Income CorpO US14:30Q3 2015 Earnings CallQ3 2015
SCANA CorpSCG US15:00Q3 2015 Earnings CallQ3 2015
Oracle CorpORCL US15:00Financial Analyst MeetingY 2015
Western Union Co/TheWU US16:30Q3 2015 Earnings CallQ3 2015
Expedia IncEXPE US16:30Q3 2015 Earnings CallQ3 2015
First Solar IncFSLR US16:30Q3 2015 Earnings CallQ3 2015
Electronic Arts IncEA US17:00Q2 2016 Earnings CallQ2 2016
Starbucks CorpSBUX US17:00Q4 2015 Earnings CallQ4 2015
Eastman Chemical CoEMN US17:00Q3 2015 Earnings ReleaseQ3 20151.843
Republic Services IncRSG US17:00Q3 2015 Earnings CallQ3 2015
Leggett & Platt IncLEG USAft-mktQ3 2015 Earnings ReleaseQ3 20150.557
Flowserve CorpFLS USAft-mktQ3 2015 Earnings ReleaseQ3 20150.791
Electronic Arts IncEA USAft-mktQ2 2016 Earnings ReleaseQ2 20160.451
Starbucks CorpSBUX USAft-mktQ4 2015 Earnings ReleaseQ4 20150.434
Essex Property Trust IncESS USAft-mktQ3 2015 Earnings ReleaseQ3 20152.453
Boston Properties IncBXP USAft-mktQ3 2015 Earnings ReleaseQ3 20151.365
Western Union Co/TheWU USAft-mktQ3 2015 Earnings ReleaseQ3 20150.44
FirstEnergy CorpFE USAft-mktQ3 2015 Earnings ReleaseQ3 20150.883
Republic Services IncRSG USAft-mktQ3 2015 Earnings ReleaseQ3 20150.53
Fluor CorpFLR USAft-mktQ3 2015 Earnings ReleaseQ3 20151.12
Genworth Financial IncGNW USAft-mktQ3 2015 Earnings ReleaseQ3 20150.221
Expedia IncEXPE USAft-mktQ3 2015 Earnings ReleaseQ3 20152.034
First Solar IncFSLR USAft-mktQ3 2015 Earnings ReleaseQ3 20151.564
Fluor CorpFLR US17:30Q3 2015 Earnings CallQ3 2015

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