Fri Oct 30 2015
Live Index (1451 articles)

Live Index – Fri, 30 Oct 2015 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ15 +0.12%) are up +0.13 at a 2-1/4 month high as better-than-expected Q3 earnings results from Linkedin and Expedia gave stocks a boost, while European stocks are down -0.24% after German Sep retail sales came in weaker than expected. Also, European personal and household goods makers declined, led by a 5% fall in L’Oreal, after it reported weaker-than-expected quarterly sales. European stocks also fell after Eurozone Sep core CPI rose a more than expected +1.0% y/y, and the Eurozone Sep unemployment rate unexpectedly fell to a 3-1/2 year low, which may keep the ECB from expanding QE. Asian stocks settled mostly lower: Japan +0.78%, Hong Kong -0.79%, China -0.14%, Taiwan -0.20%, Australia -0.52%, Singapore -0.11%, South Korea +0.19%, India -0.68%. Japan’s Nikkei Stock Index rose to a 2-1/4 month high after the Nikkei newspaper reported that the government may introduce additional budget measures if Japan Q3 GDP, due to be released on Nov 16, shows the economy needs aid. The BOJ refrained from expanding stimulus measures following today’s 2-day policy meeting after BOJ Governor Kuroda and his fellow policy makers blamed the slide in oil prices for keeping inflation from reaching the BOJ’s 2.0% target. The BOJ now expects inflation to rise to its target around the 6-month period through Mar 2017, 1 year later than a previous estimate of Mar 2016.

The dollar index (DXY00 -0.30%) is down -0.29%. EUR/USD (^EURUSD) is up +0.33% after Eurozone Oct core CPI rose more than expected and the Eurozone unemployment rate unexpectedly fell to a 3-1/2 year low, which reduces the chances that the ECB will boost QE. USD/JPY (^USDJPY) is down -0.63% as the yen strengthened after the BOJ refrained from expanding stimulus.

Dec T-note prices (ZNZ15 +0.10%) are up +4 ticks.

Eurozone Oct CPI was unch y/y, right on expectations. Oct core CPI rose +1.0% y/y, more than expectations of +0.9% y/y.

The Eurozone Sep unemployment rate unexpectedly fell -0.1 from a downward revised 10.9% in Aug to 10.8%, better than expectations of no change ay 11.0% and the lowest in 3-1/2 years.

German Sep retail sales were unch m/m and rose +3.4% y/y, weaker than expectations of +0.4% m/m and +4.1% y/y.

Japan Sep national CPI was unch y/y, right on expectations. Sep national CPI ex-fresh food fell -0.1% y/y, a smaller decline than expectations of -0.2% y/y. Sep national CPI ex food & energy rose +0.9% y/y, right on expectations and the fastest pace of increase in 6 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Q3 employment cost index (expected +0.6%, Q2 +0.2%), (2) Sep personal spending (expected +0.2%, Aug +0.4%) and Sep personal income (expected +0.2%, Aug +0.3%), (3) Sep PCE deflator (expected -0.1% m/m and +0.2% y/y, Aug unch m/m and +0.3% y/y) and Sep PCE core deflator (expected +0.2% m/m and +1.4% y/y, Aug +0.1% m/m and +1.3% y/y), (4) Oct Milwaukee ISM (expected +4.56 to 44.00, Sep -8.23 to 39.44), (5) Oct Chicago PMI (expected +0.8 to 49.5, Sep -5.7 to 48.7), (6) San Francisco Fed President John Williams’s speech at an event at the Brookings Institute on the natural rate of interest and the economy’s trend growth rate, and (7) final-Oct U.S. consumer sentiment index from the University of Michigan (expected +0.4 to 92.5, prelim-Oct +4.9 to 92.1).

There are 21 of the S&P 500 companies that report earnings today with notable reports including: Exxon (consensus $ 0.89), Chevron (0.76), Moody’s (1.06), AbbVie (1.08).

U.S. IPO’s scheduled to price today: Ardelyx (ARDX), Innovation Economy (MYIE).

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

 

 

 

PREMARKET U.S. STOCKS

Weyerhaeuser (WY -0.38%) reported Q3 EPS of 35 cents, higher than consensus of 25 cents.

Phillips 66 (PSX +1.81%) reported Q3 EPS of $ 3.02, well above consensus of $ 2.25.

Valeant Pharmaceuticals International (VRX -4.70%) slid 7% in pre-market trading after Phildor RX Services LLC, a pharmacy that fills prescriptions for Valeant, was said to have altered doctors’ prescriptions in order to get more reimbursements out of insurers.

Linkedin (LNKD +1.78%) surged 13% in pre-market trading after it reported Q3 adjusted EPS of 78 cents, well ahead of consensus of 45 cents, and then raised guidance on fiscal 2015 EPS to $ 2.63 from a previous estimate of $ 2.19, higher than consensus of $ 2.23.

Live Nation (LYV -1.10%) jumped over 7% in after-hours trading after it reported Q3 adjusted EPS of 44 cents, better than consensus of 43 cents.

Starbucks (SBUX -1.59%) fell over 1% in after-hours trading after it said it sees Q1 EPS of 44 cents-45 cents, below consensus of 47 cents, and said it sees revenue growth of 10% on a 52-week basis, below consensus of 12%.

Expedia (EXPE +1.00%) rose 7% in after-hours trading after it reported Q3 adjusted EPS of $ 2.07, better than consensus of $ 2.02.

Fluor (FLR -1.42%) dropped over 1% in after-hours trading after it lowered guidance on fiscal 2016 EPS to $ 3.50-$ 4.00, below consensus of $ 4.07.

Genworth Financial (GNW -0.95%) slumped over 12% in after-hours trading after it reported Q3 operating EPS of 13 cents, weaker than consensus of 22 cents.

Solarcity (SCTY -0.70%) tumbled over 15% in after-hours trading after it reported a Q3 EPS loss of -$ 2.10, a wider loss than consensus of -$ 1.91.

Lending Club (LC -2.71%) climbed over 5% in after-hours trading after it reported Q3 adjusted EPS of 4 cents, double consensus of 2 cents, and then raised guidance on fiscal 2015 operating revenue to $ 420 million-$ 422 million from a previous estimate of $ 405 million-$ 409 million, above consensus of $ 408.5 million.

Fiesta Restaurant Group (FRGI -3.79%) dropped nearly 7% in after-hours trading after it reported Q3 adjusted EPS of 33 cents, below consensus of 37 cents.

Deckers Outdoor (DECK -0.44%) jumped over 10% in after-hours trading after it reported Q2 EPS of $ 1.11, higher than consensus of $ 1.06, and then raised guidance on fiscal 2015 EPS to $ 5.18 from a July estimate of $ 5.15, above consensus of $ 5.14.

YRC Worldwide (YRCW +3.13%) surged over 15% in after-hours trading after it reported Q3 EPS of 61 cents, nearly double consensus of 31 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 +0.12%) this morning are up +2.75 points (+0.13%) at a fresh 2-1/4 month high. Thursday’s closes: S&P 500 -0.04%, Dow Jones -0.13%, Nasdaq -0.17%. The S&P 500 on Thursday closed slightly lower on the +1.5% increase in U.S. Q3 GDP (weaker than expectations of +1.6%) and the unexpected -2.3% m/m decline in U.S. Sep pending home sales (weaker than expectations of +1.0% m/m and the biggest decline in 1-3/4 years).

Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +4 ticks. Thursday’s closes: TYZ5 -19.00, FVZ5 -8.75. Dec T-notes on Thursday tumbled to a 1-month low and closed lower on negative carryover from Wednesday’s post-FOMC meeting statement that left open the possibility of an interest rate increase at the Dec FOMC meeting.

The dollar index (DXY00 -0.30%) this morning is down -0.282 (-0.29%). EUR/USD (^EURUSD) is up +0.0036 (+0.33%). USD/JPY (^USDJPY) is down -0.76 (-0.63%). Thursday’s closes: Dollar Index -0.500 (-0.51%), EUR/USD +0.0054 (+0.49%), USD/JPY +0.04 (+0.03%). The dollar index on Thursday closed lower on the weaker-than-expected U.S Q3 GDP and Sep pending home sales reports, which may further delay an Fed interest rate increase. In addition, there was strength in EUR/USD after Eurozone Oct economic confidence unexpectedly rose +0.3 to a 4-1/2 year high of 105.9, and after German Oct CPI rose +0.2% y/y, stronger than expectations of unch y/y, which reduces the chances of the ECB expanding QE.

Dec crude oil (CLZ15 +0.35%) this morning is up +19 cents (+0.41%) and Dec gasoline (RBZ15 +1.09%) is up +0.0188 (+1.40%). Thursday’s closes: CLZ5 -0.19 (-0.41%), RBZ5 +0.0017 (+0.13%). Dec crude oil and gasoline prices on Thursday settled mixed with Dec gasoline at a 2-week high. Crude oil and gasoline prices received a boost from a weaker dollar and expectations that refinery utilization rates will increase, and refinery demand for crude will climb, now that refineries are nearly finished with their seasonal maintenance. Negative factors included the weaker-than-expected U.S. Q3 GDP and Sep pending home sales reports.

GLOBAL EVENT CALENDAR10/30/2015
US0830 ETQ3 employment cost index expected +0.6%, Q2 +0.2%.
0830 ETSep personal spending expected +0.2%, Aug +0.4%. Sep personal income expected +0.2%, Aug +0.3%.
0830 ETSep PCE deflator expected -0.1% m/m and +0.2% y/y, Aug unch m/m and +0.3% y/y. Sep PCE core deflator expected +0.2% m/m and +1.4% y/y, Aug +0.1% m/m and +1.3% y/y.
0900 ETOct Milwaukee ISM expected +4.56 to 44.00, Sep -8.23 to 39.44.
0945 ETOct Chicago PMI expected +0.7 to 49.4, Sep -5.7 to 48.7.
1000 ETSan Francisco Fed President John Williams speaks at an event at the Brookings Institute on the natural rate of interest and the economys trend growth rate.
1000 ETFinal-Oct U.S. consumer sentiment index (University of Michigan) expected +0.4 to 92.5, prelim-Oct +4.9 to 92.1.
JPN0000 ETJapan Sep vehicle production, Aug -4.7% y/y.
0100 ETJapan Sep housing starts expected +5.8% y/y to 936,000 annualized, Aug +8.8% y/y to 931,000 annualized.
0100 ETJapan Sep construction orders, Aug -15.6% y/y.
n/aBOJ announces interest rate decision.
GER0300 ETGerman Sep retail sales expected +0.4% m/m and +4.1% y/y, Aug -0.6% m/m and +2.5% y/y.
UK0530 ETUK Oct Lloyds business barometer, Sep 42.
EUR0600 ETEurozone Sep unemployment rate expected unch at 11.0%.
0600 ETEurozone Oct CPI estimate expected unch y/y, Sep -0.1% y/y. Oct core CPI expected +0.9% y/y, Sep +0.9% y/y.
U.S. STOCK CALENDAR10/30/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Aon PLCAON USBef-mktQ3 2015 Earnings ReleaseQ3 20151.24
Chevron CorpCVX USBef-mktQ3 2015 Earnings ReleaseQ3 20150.758
Colgate-Palmolive CoCL USBef-mktQ3 2015 Earnings ReleaseQ3 20150.721
Eaton Corp PLCETN USBef-mktQ3 2015 Earnings ReleaseQ3 20150.967
Mylan NVMYL USBef-mktQ3 2015 Earnings ReleaseQ3 20151.376
Newell Rubbermaid IncNWL USBef-mktQ3 2015 Earnings ReleaseQ3 20150.613
Exelon CorpEXC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.707
Pinnacle West Capital CorpPNW USBef-mktQ3 2015 Earnings ReleaseQ3 20152.318
Weyerhaeuser CoWY USBef-mktQ3 2015 Earnings ReleaseQ3 20150.247
Welltower IncHCN USBef-mktQ3 2015 Earnings ReleaseQ3 20151.1
Iron Mountain IncIRM USBef-mktQ3 2015 Earnings ReleaseQ3 20150.495
Moody’s CorpMCO USBef-mktQ3 2015 Earnings ReleaseQ3 20151.06
Seagate Technology PLCSTX USBef-mktQ1 2016 Earnings ReleaseQ1 20160.488
AbbVie IncABBV USBef-mktQ3 2015 Earnings ReleaseQ3 20151.081
Legg Mason IncLM US7:00Q2 2016 Earnings ReleaseQ2 20160.663
CVS Health CorpCVS US7:00Q3 2015 Earnings ReleaseQ3 20151.29
Phillips 66PSX US7:00Q3 2015 Earnings ReleaseQ3 20152.251
Public Service Enterprise Group IncPEG US7:30Q3 2015 Earnings ReleaseQ3 20150.811
Rockwell Collins IncCOL US7:30Q4 2015 Earnings ReleaseQ4 20151.401
Exxon Mobil CorpXOM US8:00Q3 2015 Earnings ReleaseQ3 20150.886
Legg Mason IncLM US8:00Q2 2016 Earnings CallQ2 2016
Eastman Chemical CoEMN US8:00Q3 2015 Earnings CallQ3 2015
Genworth Financial IncGNW US8:00Q3 2015 Earnings CallQ3 2015
Aon PLCAON US8:30Q3 2015 Earnings CallQ3 2015
Ford Motor CoF US8:30Investor DayY 2015
CVS Health CorpCVS US8:30Q3 2015 Earnings CallQ3 2015
Newell Rubbermaid IncNWL US8:30Q3 2015 Earnings CallQ3 2015
Iron Mountain IncIRM US8:30Q3 2015 Earnings CallQ3 2015
American Tower CorpAMT US8:30Q3 2015 Earnings CallQ3 2015
Leggett & Platt IncLEG US9:00Q3 2015 Earnings CallQ3 2015
Rockwell Collins IncCOL US9:00Q4 2015 Earnings CallQ4 2015
Seagate Technology PLCSTX US9:00Q1 2016 Earnings CallQ1 2016
AbbVie IncABBV US9:00Q3 2015 Earnings CallQ3 2015
Exxon Mobil CorpXOM US9:30Q3 2015 Earnings CallQ3 2015
Eaton Corp PLCETN US10:00Q3 2015 Earnings CallQ3 2015
Mylan NVMYL US10:00Q3 2015 Earnings CallQ3 2015
Weyerhaeuser CoWY US10:00Q3 2015 Earnings CallQ3 2015
Welltower IncHCN US10:00Q3 2015 Earnings CallQ3 2015
Boston Properties IncBXP US10:00Q3 2015 Earnings CallQ3 2015
FirstEnergy CorpFE US10:00Q3 2015 Earnings CallQ3 2015
Chevron CorpCVX US11:00Q3 2015 Earnings CallQ3 2015
Colgate-Palmolive CoCL US11:00Q3 2015 Earnings CallQ3 2015
Exelon CorpEXC US11:00Q3 2015 Earnings CallQ3 2015
Public Service Enterprise Group IncPEG US11:00Q3 2015 Earnings CallQ3 2015
Flowserve CorpFLS US11:00Q3 2015 Earnings CallQ3 2015
Moody’s CorpMCO US11:30Q3 2015 Earnings CallQ3 2015
Pinnacle West Capital CorpPNW US12:00Q3 2015 Earnings CallQ3 2015
Phillips 66PSX US12:00Q3 2015 Earnings CallQ3 2015
Essex Property Trust IncESS US14:00Q3 2015 Earnings CallQ3 2015
Microchip Technology IncMCHP USQ2 2016 Earnings ReleaseQ2 20160.629
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