Tue Nov 03 2015
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Live Index – Tue, 03 Nov 2015 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ15 -0.29%) are down -0.16% on some give back from Monday’s rally to a 2-3/4 month high. European stocks are up +0.02% as a +1.04% rally in Dec crude oil (CLZ15 +0.76%) boosts energy producers while weakness in European banks limits gains. UBS is down over 4% after it postponed the date on when it expects to return to profitability and Standard Chartered fell over 9% after it reported an unexpected Q3 quarterly loss of -$ 139 million and said it will raise $ 5.1 billion in a rights offer. Also, Volkswagen AG is down over 3% after U.S. regulators said that after testing they found other Volkswagen models, including Porsche, have equipment to alter emissions systems. Asian stocks settled mixed: Japan closed for holiday, Hong Kong +0.89%, China -0.25%, Taiwan +1.14%, Australia +1.42%, Singapore +0.85%, South Korea +0.61%, India +0.12%.

The dollar index (DXY00 +0.27%) is up +0.24%. EUR/USD (^EURUSD) is down -0.42%. USD/JPY (^USDJPY) is up +0.11%.

Dec T-note prices (ZNZ15 -0.01%) are unchanged.

According to the Xinhua News Agency, Chinese President Xi Jinping said that China’s annual growth should be no less than 6.5% in the next 5 years in order to realize the goal to double 2010 gross domestic product and per capita income by 2020. He added that it’s still possible to maintain growth at about 7%, the government’s current goal, despite the many uncertainties facing the economy.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Oct New York ISM (expected +1.2 to 45.7, Sep -6.6 to 44.5), (2) Sep factory orders (expected -0.9%, Aug -1.7% and -0.8% ex transportation), and (3) Oct total vehicle sales (expected 17.70 million, Sep 18.07 million).

There are 27 of the S&P 500 companies that report earnings today with notable reports including: Kellogg (consensus $ 0.84), ADM (0.70), Emerson Electric (0.97), McGraw Hill Financial (1.06), CBS (0.81).

U.S. IPO’s scheduled to price today: Revance Therapeutics (RVNC).

Equity conferences during the remainder of this week include: Gabelli & Company Automotive Aftermarket Symposium on Tue, Goldman Sachs Industrials Conference on Tue-Wed, Citi China Investor Conference on Wed, Citi Industrials Conference on Wed, Citi Global Health Care Conference on Thu, Needham Next Generation Storage Networking Conference on Thu, Bernstein Technology Innovation Summit on Thu-Fri, BancAnalysts Association of Boston Conference on Thu-Fri.

 

 

 

PREMARKET U.S. STOCKS

Archer-Daniels-Midland (ADM +1.36%) reported Q3 EPS of 60 cents, below consensus of 70 cents.

Allstate (ALL -0.13%) rose 1.3% in pre-market trading after it reported Q3 operating EPS of $ 1.52. better than consensus of $ 1.32.

King Digital Entertainment Plc (KING +3.88%) jumped 14% in pre-market trading after it agreed to a $ 5.9 billion takeover offer from Activision Blizzard.

AMC Entertainment (AMC +0.47%) slid nearly 2% in after-hours trading after it reported Q3 EPS of 12 cents, below consensus of 16 cents.

Avis Budget (CAR +4.73%) sank over 9% in after-hours trading after it cut guidance on fiscal 2015 adjusted EPS to $ 3.10-$ 3.25 from an Aug estimate of $ 3.15-$ 3.45, below consensus of $ 3.36

Fitbit (FIT +0.64%) slipped nearly 8% in after-hours trading after it reported Q3 EPS of 24 cents, higher than consensus of 10 cents, but then announced a secondary offering of 7 million shares of common stock.

Luminex (LMNX +5.71%) climbed over 10% in after-hours trading after it reported Q3 EPS of 15 cents, better than consensus of 10 cents, and then raised guidance on fiscal 2015 revenue to $ 235 million-$ 238 million from a previous estimate of $ 232 million-$ 236 million, higher than consensus of $ 234.7 million.

Texas Roadhouse (TXRH +1.92%) rose over 4% in after-hours trading after it reported Q3 EPS of 29 cents, below consensus of 30 cents, but said comparable sales for the first four weeks of Q4 are up +5.0% y/y.

American International Group (AIG +1.08%) slid 3% in after-hours trading after it reported Q3 operating EPS of 52 cents, well below consensus of $ 1.03.

Nautilus (NLS +0.35%) jumped over 11% in after-hours trading after it reported Q3 continuing operations EPS of 12 cents, higher than consensus of 9 cents.

Qualys (QLYS +1.61%) slumped nearly 12% in after-hours trading after it reported Q3 EPS of 19 cents, higher than consensus of 13 cents, but then lowered guidance on fiscal 2015 revenue to $ 164.1 million-$ 164.6 million from an Aug estimate of $ 165.0 million-$ 166.5 million, below consensus of $ 165.6 million.

Alon USA Energy (ALJ +2.15%) rose over 1% in after-hours trading after it reported Q3 adjusted EPS of 60 cents, well above consensus of 46 cents.

SS&C Technologies (SSNC +0.40%) climbed over 2% in after-hours trading after it reported Q3 adjusted EPS of 68 cents, higher than consensus of 62 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 -0.29%) this morning are down -3.25 points (-0.16%). Monday’s closes: S&P 500 +1.19%, Dow Jones +0.94%, Nasdaq +1.18%. The S&P 500 on Monday rose to a 2-3/4 month high and closed higher on positive carryover from a rally in European stocks after the Eurozone Oct Market manufacturing PMI was revised higher. Stocks also received a boost from the decline of only -0.1 point in the Oct ISM manufacturing index to 50.1, stronger than expectations of -0.2 to 50.0. Health-care stocks rallied on increased M&A activity after Shire Plc bought Dyax for $ 5.9 billion and after reports that Pfizer is making progress in talks to buy Allergan Plc. Stocks were initially undercut by Chinese economic concerns after the China Oct manufacturing PMI was unchanged at 49.8, weaker than expectations of +0.2 to 50.0.

Dec 10-year T-notes (ZNZ15 -0.01%) this morning are unch. Monday’s closes: TYZ5 -10.00, FVZ5 -6.00. Dec T-notes on Monday fell to a 1-1/4 month low and closed lower on negative carryover from a decline in German bund prices after hawkish comments from ECB President Draghi dampened speculation the ECB will soon expand QE. T-notes were also hurt by the stronger-than-expected Oct ISM manufacturing index and by reduced safe-haven demand as stocks rallied.

The dollar index (DXY00 +0.27%) this morning is up +0.234 (+0.24%). EUR/USD (^EURUSD) is down -0.0046 (-0.42%). USD/JPY (^USDJPY) is up +0.13 (+0.11%). Monday’s closes: Dollar Index -0.018 (-0.02%), EUR/USD +0.0010 (+0.09%), USD/JPY +0.14 (+0.12%). The dollar index on Monday closed lower on concerns that China’s economy that may keep the Fed from raising interest rates after the China Oct manufacturing PMI contracted for the third straight month. In addition, EUR/USD saw strength after ECB President Draghi cooled speculation the ECB will expand QE when he said that further monetary stimulus is still an “open question.”

Dec crude oil (CLZ15 +0.76%) this morning is up +48 cents (+1.04%) and Dec gasoline (RBZ15 +0.74%) is up +0.0112 (+0.81%). Monday’s closes: CLZ5 -0.51 (-1.09%), RBZ5 +0.0023 (+0.17%). Dec crude oil and gasoline on Monday settled mixed. Crude oil prices was undercut by news that Russian Oct crude and gas condensate production rose +1.3% y/y to a record 10.78 million bpd. In addition, there were Chinese demand concerns after the China Oct manufacturing PMI contracted for the third straight month. Crude oil prices found support from a weaker dollar and the rally in the S&P 500 to a 2-3/4 month high.

GLOBAL EVENT CALENDAR11/03/2015
US0945 ETOct New York ISM expected +1.2 to 45.7, Sep -6.6 to 44.5.
1000 ETSep factory orders expected -0.9%, Aug -1.7% and -0.8% ex transportation.
n/aOct total vehicle sales expected 17.70 million, Sep 18.07 million. Oct domestic sales expected 14.05 million, Sep 14.36 million.
UK0430 ETUK Oct Markit/CIPS construction PMI expected -1.1 to 58.8, Sep 59.9.
1901 ETUK Oct BRC shop price index, Sep -1.9% y/y.
EUR1300 ETECB President Mario Draghi speaks at the European Cultural Days 2015 event in Frankfurt.
JPN2035 ETJapan Oct Nikkei services PMI, Sep 51.4.
n/aJapanese markets closed for Culture Day.
CHI2045 ETChina Oct Caixin services PMI, Sep 50.5.
U.S. STOCK CALENDAR11/03/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Archer-Daniels-Midland CoADM USBef-mktQ3 2015 Earnings ReleaseQ3 20150.696
Frontier Communications CorpFTR USBef-mktQ3 2015 Earnings ReleaseQ3 2015-0.006
Emerson Electric CoEMR USBef-mktQ4 2015 Earnings ReleaseQ4 20150.968
HCP IncHCP USBef-mktQ3 2015 Earnings ReleaseQ3 20150.782
NiSource IncNI USBef-mktQ3 2015 Earnings ReleaseQ3 20150.025
Vulcan Materials CoVMC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.968
Expeditors International of Washington IncEXPD USBef-mktQ3 2015 Earnings ReleaseQ3 20150.6
Martin Marietta Materials IncMLM USBef-mktQ3 2015 Earnings ReleaseQ3 20152.171
Fidelity National Information Services IncFIS USBef-mktQ3 2015 Earnings ReleaseQ3 20150.904
Zoetis IncZTS USBef-mktQ3 2015 Earnings ReleaseQ3 20150.397
Columbia Pipeline Group IncCPGX USBef-mktQ3 2015 Earnings ReleaseQ3 20150.208
Harris CorpHRS US6:30Q1 2016 Earnings ReleaseQ1 20161.283
Mosaic Co/TheMOS US7:00Q3 2015 Earnings ReleaseQ3 20150.53
Discovery Communications IncDISCA US7:00Q3 2015 Earnings ReleaseQ3 20150.42
McGraw Hill Financial IncMHFI US7:15Q3 2015 Earnings ReleaseQ3 20151.063
American International Group IncAIG US8:00Q3 2015 Earnings CallQ3 2015
Kellogg CoK US8:00Q3 2015 Earnings ReleaseQ3 20150.837
Dun & Bradstreet Corp/TheDNB US8:00Q3 2015 Earnings CallQ3 2015
Frontier Communications CorpFTR US8:30Q3 2015 Earnings CallQ3 2015
Harris CorpHRS US8:30Q1 2016 Earnings CallQ1 2016
McGraw Hill Financial IncMHFI US8:30Q3 2015 Earnings CallQ3 2015
Fidelity National Information Services IncFIS US8:30Q3 2015 Earnings CallQ3 2015
Discovery Communications IncDISCA US8:30Q3 2015 Earnings CallQ3 2015
Zoetis IncZTS US8:30Q3 2015 Earnings CallQ3 2015
Archer-Daniels-Midland CoADM US9:00Q3 2015 Earnings CallQ3 2015
NiSource IncNI US9:00Q3 2015 Earnings CallQ3 2015
Eversource EnergyES US9:00Q3 2015 Earnings CallQ3 2015
Morgan StanleyMS US9:00Fixed Income Investor Conference Call
General Growth Properties IncGGP US9:00Q3 2015 Earnings CallQ3 2015
Allstate Corp/TheALL US9:00Q3 2015 Earnings CallQ3 2015
Sempra EnergySRE US9:00Q3 2015 Earnings ReleaseQ3 20150.883
Mosaic Co/TheMOS US9:00Q3 2015 Earnings CallQ3 2015
Ford Motor CoF US9:15October 2015 Sales and Revenue Release2015
Kellogg CoK US9:30Q3 2015 Earnings CallQ3 2015
Columbia Pipeline Group IncCPGX US9:30Q3 2015 Earnings CallQ3 2015
Ford Motor CoF US10:00October 2015 Sales and Revenue Call2015
Tenet Healthcare CorpTHC US10:00Q3 2015 Earnings CallQ3 2015
Vornado Realty TrustVNO US10:00Q3 2015 Earnings CallQ3 2015
Biogen IncBIIB US10:00Investor R&D DayY 2015
Pioneer Natural Resources CoPXD US10:00Q3 2015 Earnings CallQ3 2015
HCP IncHCP US12:00Q3 2015 Earnings CallQ3 2015
L Brands IncLB US12:00Investor DayY 2015
Varian Medical Systems IncVAR US12:00Investor MeetingY 2015
Vulcan Materials CoVMC US12:00Q3 2015 Earnings CallQ3 2015
Symantec CorpSYMC US12:00Annual General MeetingY 2015
Sempra EnergySRE US13:00Q3 2015 Earnings CallQ3 2015
Emerson Electric CoEMR US14:00Q4 2015 Earnings CallQ4 2015
Martin Marietta Materials IncMLM US14:00Q3 2015 Earnings CallQ3 2015
Cerner CorpCERN US16:01Q3 2015 Earnings ReleaseQ3 20150.544
CBS CorpCBS US16:01Q3 2015 Earnings ReleaseQ3 20150.805
Activision Blizzard IncATVI US16:30Q3 2015 Earnings CallQ3 2015
Cerner CorpCERN US16:30Q3 2015 Earnings CallQ3 2015
CBS CorpCBS US16:30Q3 2015 Earnings CallQ3 2015
DaVita HealthCare Partners IncDVA US17:00Q3 2015 Earnings CallQ3 2015
ONEOK IncOKE USAft-mktQ3 2015 Earnings ReleaseQ3 20150.403
Cablevision Systems CorpCVC USAft-mktQ3 2015 Earnings ReleaseQ3 20150.226
Newfield Exploration CoNFX USAft-mktQ3 2015 Earnings ReleaseQ3 20150.154
Apartment Investment & Management CoAIV USAft-mktQ3 2015 Earnings ReleaseQ3 20150.564
DaVita HealthCare Partners IncDVA USAft-mktQ3 2015 Earnings ReleaseQ3 20150.965
Devon Energy CorpDVN USAft-mktQ3 2015 Earnings ReleaseQ3 20150.525
Cimarex Energy CoXEC USAft-mktQ3 2015 Earnings ReleaseQ3 2015-0.075
Sigma-Aldrich CorpSIAL USQ3 2015 Earnings ReleaseQ3 20151.055
Delta Air Lines IncDAL USOctober 2015 Sales and Revenue Release – Traffic Results2015

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