Fri Mar 11 2016
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Live Index – Fri, 11 Mar 2016 Premarket

PREMARKET WORLD NEWS

March E-mini S&Ps (ESH16 +0.93%) are up +0.98% at a 2-month high and European stocks are up +2.97%. Bank stocks are higher with Goldman Sachs and Morgan Stanley both up at least 1.5% in pre-market trading, while a +2.30% jump in the price of crude to a 3-month high gives energy producing stocks a lift. Crude oil received a boost after the IEA cut its 2016 non-OPEC crude production estimate by -150,000 bpd and said that “there are signs that prices might have bottomed out.” Asian stocks settled higher: Japan +0.51%, Hong Kong +1.08%, China +0.20%, Taiwan +0.52%, Australia +0.32%, Singapore +0.70%, South Korea +0.22%, India +0.38%. China’s Shanghai Composite recovered from a 1-week low and closed higher and gave Asian markets a lift after the PBOC strengthened its daily reference rate for the yuan by 0.34%, which fueled a rally in the yuan to a 2-1/4 month high against the dollar.

The dollar index (DXY00 +0.50%) is up +0.54%. EUR/USD (^EURUSD) is down -0.62%. USD/JPY (^USDJPY) is up +0.49%.

Jun T-note prices (ZNM16 -0.15%) are down -5 ticks.

The IEA cut its 2016 non-OPEC crude production estimate to 750,000 bpd, down -150,000 from 900,000 bpd estimated last month, and said that “there are signs that prices might have bottomed out.”

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Feb import price index (expected -0.7% m/m and -6.5% y/y, Jan -1.1% m/m and -6.2% y/y).

None of the Russell 1000 companies report earnings today.

U.S. IPO’s scheduled to price today: none.

Equity conferences this week include: none.

 

 

PREMARKET U.S. STOCKS

Morgan Stanley (MS +0.16%) and Goldman Sachs Group (GS +0.74%) are both up over 1% in pre-market trading.

Ulta Salon Cosmetics & Fragrance (ULTA +2.75%) rallied over 12% in pre-market trading after it reported Q4 adjusted EPS of $ 1.69, above consensus of $ 1.54, and then raised guidance on Q1 EPS to $ 1.25-$ 1.30, higher than consensus of $ 1.22.

Wynn Resorts Ltd. (WYNN +3.07%) was downgraded to ‘Neutral’ from ‘Buy’ at Sterne Agee CRT.

Arctic Cat (ACAT +2.85%) was downgraded to ‘Sell’ from ‘Hold’ at Wunderlich Securities.

Zumiez (ZUMZ +2.10%) fell 8% in after-hours trading after it lowered guidance on Q1 sales to $ 172 million-$ 175 million, below consensus of $ 176.7 million.

Finisar (FNSR +0.07%) jumped over 8% in after-hours trading after it reported Q3 adjusted EPS of 25 cents, higher than consensus of 22 cents, and said it sees Q4 adjusted EPS of 22 cents-28 cents, above consensus of 21 cents.

El Pollo Loco Holdings (LOCO +1.54%) declined nearly 6% in after-hours trading after it said it sees 2016 pro-forma EPS of 70 cents-74 cents, at the lower end of consensus of 74 cents.

BioDelivery Sciences International (BDSI -8.11%) dropped over 5% in after-hours trading after it reported Q4 EPS of 19 cents, well below consensus of 55 cents.

Bojangles’ (BOJA -0.20%) gained 6% in after-hours trading after it reported Q4 EPS of 22 cents, better than consensus of 19 cents, and then raised guidance on 2016 adjusted Ebitda to $ 83.5 million-$ 86.5 million, higher than consensus of $ 80.2 million.

Kratos Defense & Security Solutions (KTOS -2.90%) jumped over 6% in after-hours trading after it reported Q4 ongoing adjusted EPS of 2 cents, better than consensus of a -4 cent loss.

Sunrun (RUN +7.52%) plunged over 10% in after-hours trading after it reported Q4 revenue of $ 99.6 million, below consensus of $ 101.8 million.

Bonanza Creek Energy (BCEI -2.42%) slipped 5% in after-hours trading after it elected to draw down $ 209 million on its credit facility.

Strata Skin Sciences (SSKN +2.80%) catapulted up over 30% in after-hours trading after the FDA approved Strata’s PMA supplement for the MelaFind System that aids in detection of melanoma.

MARKET COMMENTS

Mar E-mini S&Ps (ESH16 +0.93%) this morning are up +19.50 points (+0.98%) at a 2-month high. Thursday’s closes: S&P 500 +0.02%, Dow Jones -0.03%, Nasdaq -0.15%. The S&P 500 on Thursday gave up early gains and fell to a 1-week low on global economic concerns after the ECB cut its Eurozone 2016 GDP forecast to +1.4% from +1.7% and ECB President Draghi said that risks to economic growth are still to the downside. Stocks were also undercut by weakness in energy producers after the price of crude fell. Stocks saw strength early on the -18,000 drop in U.S. weekly jobless claims and on the ECB’s interest rate cut and QE expansion to 80 billion euros from 60 billion euros a month.

Jun 10-year T-notes (ZNM16 -0.15%) this morning are down -5 ticks. Thursday’s closes: TYM6 -13.50, FVM6 -8.50. Jun T-notes on Thursday slid to a 1-1/4 month low and closed lower on the larger-than-expected drop in weekly U.S. jobless claims to a 4-3/4 month low and on negative carryover from a decline in German bund prices to a 1-1/4 month low.

The dollar index (DXY00 +0.50%) this morning is up +0.522 (+0.54%). EUR/USD ^EURUSD) is down -0.0069 (-0.62%). USD/JPY (^USDJPY) is up +0.56 (+0.49%). Thursday’s closes: Dollar Index -1.107 (-1.14%), EUR/USD +0.0178 (+1.62%), USD/JPY -0.16 (-0.14%). The dollar index on Thursday whipsawed up to a 1-week high and then down to a 3-week low and closed lower. The dollar was undercut by strength in EUR/USD which recovered from a 5-week low and rallied up to a 3-week high when ECB President Draghi said that he “doesn’t anticipate” more rate cuts from the ECB. EUR/USD initially saw weakness after the ECB cut interest rates and expanded QE to 80 billion euros a month from 60 billion euros.

Apr WTI crude (CLJ16 +2.14%) this morning is up +87 cents (+2.30%) and Apr gasoline (RBJ16 +0.55%) is up +0.0079 (+0.55%). Thursday’s closes: CLJ6 -0.45 (-1.18%), RBJ6 -0.0315 (-2.14%). Apr crude and gasoline on Thursday closed lower on reduced optimism about a freeze in crude production after Russian Energy Minister Novak said that a time and date for a meeting among major oil producers remains uncertain and on negative carryover from Wednesday’s EIA data that showed an increase in EIA crude stockpiles to a record high 521.8 million bbl and the rise in oil inventories at Cushing, OK, the delivery point for WTI futures, to a record 66.9 million bbl.

GLOBAL EVENT CALENDAR03/11/2016
US0830 ETFeb import price index expected -0.7% m/m and -6.5% y/y, Jan -1.1% m/m and -6.2% y/y.
GER0200 ETRevised German Feb CPI (EU harmonized), previous +0.4% m/m and -0.2% y/y.
0200 ETGerman Feb wholesale price index, Jan -0.4% m/m and -1.0% y/y.
UK0430 ETUK Jan construction output expected +0.2% m/m and -1.7% y/y, Dec +1.5% m/m and +0.5% y/y.
U.S. STOCK CALENDAR03/11/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Genesco IncGCO USBef-mktQ4 2016 Earnings ReleaseQ4 20162.134
Buckle Inc/TheBKE USBef-mktQ4 2016 Earnings ReleaseQ4 20161.073
Hibbett Sports IncHIBB USBef-mktQ4 2016 Earnings ReleaseQ4 20160.732
Progenics Pharmaceuticals IncPGNX USBef-mktQ4 2015 Earnings ReleaseQ4 2015-0.142
Kirkland’s IncKIRK USBef-mktQ4 2016 Earnings ReleaseQ4 20160.898
Citi Trends IncCTRN USBef-mktQ4 2016 Earnings ReleaseQ4 20160.25
Straight Path Communications IncSTRP USBef-mktQ2 2016 Earnings ReleaseQ2 2016-0.07
Lifetime Brands IncLCUT US7:00Q4 2015 Earnings ReleaseQ4 20150.64
WW Grainger IncGWW US8:00February 2016 Sales and Revenue Call2016
WW Grainger IncGWW US8:00February 2016 Sales and Revenue Release2016
Public Service Enterprise Group IncPEG US8:00Financial Community Meeting
Providence Service Corp/ThePRSC US8:00Q4 2015 Earnings CallQ4 2015
Genesco IncGCO US8:30Q4 2016 Earnings CallQ4 2016
Progenics Pharmaceuticals IncPGNX US8:30Q4 2015 Earnings CallQ4 2015
Surgery Partners IncSGRY US8:30Q4 2015 Earnings CallQ4 2015
General Electric CoGE US9:00Investor Meeting – HealthcareY 2016
Citi Trends IncCTRN US9:00Q4 2016 Earnings CallQ4 2016
Gastar Exploration IncGST US9:30Q4 2015 Earnings CallQ4 2015
AEP Industries IncAEPI US10:00Q1 2016 Earnings CallQ1 2016
Buckle Inc/TheBKE US10:00Q4 2016 Earnings CallQ4 2016
Hibbett Sports IncHIBB US10:00Q4 2016 Earnings CallQ4 2016
Investors Real Estate TrustIRET US10:00Q3 2016 Earnings CallQ3 2016
Commercial Vehicle Group IncCVGI US10:00Q4 2015 Earnings CallQ4 2015
State National Cos IncSZTNZ US10:00Q4 2015 Earnings CallQ4 2015
Lifetime Brands IncLCUT US11:00Q4 2015 Earnings CallQ4 2015
Kirkland’s IncKIRK US11:00Q4 2016 Earnings CallQ4 2016
Green Brick Partners IncGRBK US12:00Q4 2015 Earnings CallQ4 2015
Straight Path Communications IncSTRP US16:15Q2 2016 Earnings CallQ2 2016
Earthstone Energy IncESTE USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.125
Hallador Energy CoHNRG USAft-mktQ4 2015 Earnings ReleaseQ4 20150.18
Park-Ohio Holdings CorpPKOH USAft-mktQ4 2015 Earnings ReleaseQ4 20150.89
Equifax IncEFX USInvestor Meeting – New YorkY 2016
Valhi IncVHI USQ4 2015 Earnings ReleaseQ4 2015-0.04
EMCORE CorpEMKR USAnnual General Meeting
Tangoe IncTNGO USQ4 2015 Earnings ReleaseQ4 20150.035
Stemline Therapeutics IncSTML USQ4 2015 Earnings ReleaseQ4 2015-0.57
Carbylan Therapeutics IncCBYL USQ4 2015 Earnings ReleaseQ4 2015-0.247
Zynerba Pharmaceuticals IncZYNE USQ4 2015 Earnings ReleaseQ4 2015-0.625

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