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
US 0945 ET Oct New York ISM expected +1.2 to 45.7, Sep -6.6 to 44.5.
1000 ET Sep factory orders expected -0.9%, Aug -1.7% and -0.8% ex transportation.
n/a Oct total vehicle sales expected 17.70 million, Sep 18.07 million. Oct domestic sales expected 14.05 million, Sep 14.36 million.
UK 0430 ET UK Oct Markit/CIPS construction PMI expected -1.1 to 58.8, Sep 59.9.
1901 ET UK Oct BRC shop price index, Sep -1.9% y/y.
EUR 1300 ET ECB President Mario Draghi speaks at the European Cultural Days 2015 event in Frankfurt.
JPN 2035 ET Japan Oct Nikkei services PMI, Sep 51.4.
n/a Japanese markets closed for Culture Day.
CHI 2045 ET China Oct Caixin services PMI, Sep 50.5.
U.S. STOCK CALENDAR11/03/2015
Company Ticker Time Event Description Period Estimate
Archer-Daniels-Midland Co ADM US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.696
Frontier Communications Corp FTR US Bef-mkt Q3 2015 Earnings Release Q3 2015 -0.006
Emerson Electric Co EMR US Bef-mkt Q4 2015 Earnings Release Q4 2015 0.968
HCP Inc HCP US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.782
NiSource Inc NI US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.025
Vulcan Materials Co VMC US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.968
Expeditors International of Washington Inc EXPD US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.6
Martin Marietta Materials Inc MLM US Bef-mkt Q3 2015 Earnings Release Q3 2015 2.171
Fidelity National Information Services Inc FIS US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.904
Zoetis Inc ZTS US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.397
Columbia Pipeline Group Inc CPGX US Bef-mkt Q3 2015 Earnings Release Q3 2015 0.208
Harris Corp HRS US 6:30 Q1 2016 Earnings Release Q1 2016 1.283
Mosaic Co/The MOS US 7:00 Q3 2015 Earnings Release Q3 2015 0.53
Discovery Communications Inc DISCA US 7:00 Q3 2015 Earnings Release Q3 2015 0.42
McGraw Hill Financial Inc MHFI US 7:15 Q3 2015 Earnings Release Q3 2015 1.063
American International Group Inc AIG US 8:00 Q3 2015 Earnings Call Q3 2015
Kellogg Co K US 8:00 Q3 2015 Earnings Release Q3 2015 0.837
Dun & Bradstreet Corp/The DNB US 8:00 Q3 2015 Earnings Call Q3 2015
Frontier Communications Corp FTR US 8:30 Q3 2015 Earnings Call Q3 2015
Harris Corp HRS US 8:30 Q1 2016 Earnings Call Q1 2016
McGraw Hill Financial Inc MHFI US 8:30 Q3 2015 Earnings Call Q3 2015
Fidelity National Information Services Inc FIS US 8:30 Q3 2015 Earnings Call Q3 2015
Discovery Communications Inc DISCA US 8:30 Q3 2015 Earnings Call Q3 2015
Zoetis Inc ZTS US 8:30 Q3 2015 Earnings Call Q3 2015
Archer-Daniels-Midland Co ADM US 9:00 Q3 2015 Earnings Call Q3 2015
NiSource Inc NI US 9:00 Q3 2015 Earnings Call Q3 2015
Eversource Energy ES US 9:00 Q3 2015 Earnings Call Q3 2015
Morgan Stanley MS US 9:00 Fixed Income Investor Conference Call
General Growth Properties Inc GGP US 9:00 Q3 2015 Earnings Call Q3 2015
Allstate Corp/The ALL US 9:00 Q3 2015 Earnings Call Q3 2015
Sempra Energy SRE US 9:00 Q3 2015 Earnings Release Q3 2015 0.883
Mosaic Co/The MOS US 9:00 Q3 2015 Earnings Call Q3 2015
Ford Motor Co F US 9:15 October 2015 Sales and Revenue Release 2015
Kellogg Co K US 9:30 Q3 2015 Earnings Call Q3 2015
Columbia Pipeline Group Inc CPGX US 9:30 Q3 2015 Earnings Call Q3 2015
Ford Motor Co F US 10:00 October 2015 Sales and Revenue Call 2015
Tenet Healthcare Corp THC US 10:00 Q3 2015 Earnings Call Q3 2015
Vornado Realty Trust VNO US 10:00 Q3 2015 Earnings Call Q3 2015
Biogen Inc BIIB US 10:00 Investor R&D Day Y 2015
Pioneer Natural Resources Co PXD US 10:00 Q3 2015 Earnings Call Q3 2015
HCP Inc HCP US 12:00 Q3 2015 Earnings Call Q3 2015
L Brands Inc LB US 12:00 Investor Day Y 2015
Varian Medical Systems Inc VAR US 12:00 Investor Meeting Y 2015
Vulcan Materials Co VMC US 12:00 Q3 2015 Earnings Call Q3 2015
Symantec Corp SYMC US 12:00 Annual General Meeting Y 2015
Sempra Energy SRE US 13:00 Q3 2015 Earnings Call Q3 2015
Emerson Electric Co EMR US 14:00 Q4 2015 Earnings Call Q4 2015
Martin Marietta Materials Inc MLM US 14:00 Q3 2015 Earnings Call Q3 2015
Cerner Corp CERN US 16:01 Q3 2015 Earnings Release Q3 2015 0.544
CBS Corp CBS US 16:01 Q3 2015 Earnings Release Q3 2015 0.805
Activision Blizzard Inc ATVI US 16:30 Q3 2015 Earnings Call Q3 2015
Cerner Corp CERN US 16:30 Q3 2015 Earnings Call Q3 2015
CBS Corp CBS US 16:30 Q3 2015 Earnings Call Q3 2015
DaVita HealthCare Partners Inc DVA US 17:00 Q3 2015 Earnings Call Q3 2015
ONEOK Inc OKE US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.403
Cablevision Systems Corp CVC US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.226
Newfield Exploration Co NFX US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.154
Apartment Investment & Management Co AIV US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.564
DaVita HealthCare Partners Inc DVA US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.965
Devon Energy Corp DVN US Aft-mkt Q3 2015 Earnings Release Q3 2015 0.525
Cimarex Energy Co XEC US Aft-mkt Q3 2015 Earnings Release Q3 2015 -0.075
Sigma-Aldrich Corp SIAL US Q3 2015 Earnings Release Q3 2015 1.055
Delta Air Lines Inc DAL US October 2015 Sales and Revenue Release – Traffic Results 2015

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