Tue Apr 26 2016
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Live Index – Tue, 26 Apr 2016 Premarket

PREMARKET WORLD NEWS

Jun E-mini S&Ps (ESM16 +0.12%) are up +0.12% and European stocks are up +0.22% ahead of the start of the 2-day FOMC meeting that begins today. The market is not expecting any increase in interest rates at this meeting but will be looking for clues as when to the Fed may be considering another hike in rates. Energy producers are stronger as crude oil (CLM16 +1.01%) is up +0.89% and GBP/USD is up +0.52% at a 2-1/2 month high on speculation that Britain will vote to remain in the EU following the June 23 referendum. Asian stocks settled mixed: Japan -0.49%, Hong Kong +0.48%, China +0.61%, Taiwan +0.25%, Australia -0.30%, Singapore -0.19%, South Korea +0.32%, India +1.28%.

The dollar index (DXY00 -0.25%) is down -0.26%. EUR/USD (^EURUSD) is up +0.12%. USD/JPY (^USDJPY) is down -0.26%.

Jun T-note prices (ZNM16 -0.04%) are down -2.5 ticks at a 4-week low.

 

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Mar durable goods orders (expected +1.8% and +0.5% ex transportation, Feb -3.0% and -1.3% ex transportation), (2) Feb S&P/CaseShiller composite-20 home price index (expected +0.8% m/m and +5.5% y/y, Jan +0.8% m/m and +5.75% y/y), (3) prelim-Apr Markit services PMI (expected +0.7 to 52.0, Mar +1.6 to 51.3), (4) Apr Conference Board U.S. consumer confidence index (expected -0.3 to 95.9, Mar +2.2 to 96.2), (5) Apr Richmond Fed manufacturing survey (expected -10 to 12, Mar +26 to 22), (6) first day of the 2-day FOMC meeting, and (7) the Treasury’s auction of $ 34 billion of 5-year T-notes.

There are 50 of the S&P 500 companies that report earnings today with notable reports including: Apple (consensus 2.00), eBay (0.45), Capital One (1.92), Procter & Gamble (0.82), AT&T (0.69), Chipotle (-1.05),

U.S. IPO’s scheduled to price today: Yintech Investment Holdings (YIN), Red Rock Investments (RRR).

Equity conferences this week include: Nomura Retail and Restaurants Conference on Wed.

PREMARKET U.S. STOCKS

NXP Semiconductors (NXPI -1.24%) climbed over 2% in pre-market trading after it reported Q1 adjusted EPS of $ 1.14, higher than consensu sof $ 1.11.

Pioneer National Resources (PXD +0.23%) gained almost 3% in after-hours trading after it said it sees 2016 production growth of 12%, higher than a previous estimate of 10%.

Chemtura (CHMT +0.14%) was upgraded to ‘Buy’ from ‘Hold’ at BB&T Capital Markets with a 12-month price target of $ 37.

Spark Energy (SPKE -2.06%) was rated a new ‘Outperform’ at FBR Capital Markets with a 12-month price target of $ 27.

Express Scripts Holdings (ESRX +0.23%) fell over 2% in after-hour trading after it reported Q1 adjusted EPS of $ 1.22, right on consensus, but Q1 revenue of $ 24.8 billion was less than consensus of $ 25.2 billion.

Office Depot (ODP -1.13%) reported Q1 adjusted EPS of 10 cents, below consensus of 12 cents.

Ethan Allen Interiors (ETH -0.06%) rallied nearly 4% in after-hours trading after it reported Q3 adjusted EPS of 34 cents, better than consensus of 31 cents,

Canadian National Railway (CNI -1.05%) slipped nearly 5% in after-hours trading after it cut its full-year forecast and said it sees carloads down 4%-5% y/y.

Sanmina (SANM +0.82%) rose over 5% in after-hours trading after it reported Q2 non-GAP EPS of 63 cents, higher than consensus of 57 cents.

Artana Therapeutics (PETX -4.29%) climbed over 15% in after-hours trading after it entered into a licensing agreement with Eli Lilly’s Elanco animal health unit.

Nabors Industries (NBR -4.34%) fell nearly 5% in after-hours trading after it reported Q1 operating revenue of $ 597.6 million, less than consensus of $ 633.4 million and said it sees margins deteriorating, particularly in the lower 48 U.S. states.

Knowles (KN -8.89%) surged over 20% in after-hours trading after it reported Q1 adjusted EPS of 8 cents, more than double consensus of 3 cents, and said it sees Q2 adjusted EPS of 8 cents-14 cents, above consensus of 8 cents.

Container Store Group (TCS -8.04%) jumped over 20% in after-hours trading after it reported Q4 adjusted EPS of 20 cents, right on consensus, but said comparable sales were up +0.2%, better than expectations of a -3.6% decline.

Ballard Power Systems (BLDP -2.11%) rallied over 15% in after-hours trading after it delivered a prototype PEM (proton exchange membrane) fuel cell propulsion modules to Boeing’s Insitu unit for use in the ScanEagle unmanned aerial vehicle.

 

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.12%) this morning are up +2.50 points (+0.12%). Monday’s closes: S&P 500 -0.18%, Dow Jones -0.15%, Nasdaq unchanged. The S&P 500 on Monday closed lower on negative carryover from a slide in European stocks after a gauge of German investor confidence unexpectedly declined. Stocks were also undercut by the unexpected -1.5% decline in U.S. Mar new home sales to 511,000 (weaker than expectations of +1.6% to 520,000).

June 10-year T-note prices (ZNM16 -0.04%) this morning are down -2.5 ticks at a 4-week low. Monday’s closes: TYM6 -3.00, FVM6 -1.50. Jun T-notes on Monday fell to a 3-1/2 week low and closed lower on supply overhang amidst this week’s $ 103 billion T-note auction package, the rise in the 10-year T-note breakeven inflation expectations rate to an 8-1/2 month high, and negative carryover from a fall in German bund prices to a 5-week low.

The dollar index (DXY00 -0.25%) this morning is down -0.251 (-0.26%). EUR/USD (^EURUSD) is up +0.0014 (+0.12%). USD/JPY (^USDJPY) is down -0.29 (-0.26%). Monday’s closes: Dollar Index -0.274 (-0.29%), EUR/USD +0.0046 (+0.41%), USD/JPY -0.59 (-0.53%). The dollar index on Monday closed lower on weakness in USD/JPY as a slide in stocks boosted the safe-haven demand for the yen. The dollar was also hurt by strength in GBP/USD, which climbed to a 2-1/4 month high on increased hopes for Britain to remain within the EU ahead of June’s referendum.

June WTI crude oil (CLM16 +1.01%) this morning is up +38 cents (+0.89%). June gasoline (RBM16 +0.88%) is up +0.0119 (+0.78%). Monday’s closes: CLM6 -1.09 (-2.49%), RBM6 -0.0170 (-1.10%). Jun crude and gasoline on Monday closed lower on concern that the global crude oil glut will persist after Saudi Aramco said it will complete expansion of its Shaybah oilfield next month to boost its output capacity to 1.0 million bpd from 750,000 bpd currently. In addition, Iranian Oil Minister Zanganeh said Iran’s oil production has increased by +1.0 million bpd since Jan and will continue to increase until Iran’s pre-sanctions oil market share is regained.

GLOBAL EVENT CALENDAR04/26/2016
US0830 ETMar durable goods orders expected +1.8% and +0.5% ex transportation, Feb -3.0% and -1.3% ex transportation. Mar capital goods new orders nondefense ex-aircraft & parts expected +0.6%, Feb -2.5%.
0900 ETFeb S&P/CaseShiller composite-20 home price index expected +0.8% m/m and +5.5% y/y, Jan +0.8% m/m and +5.75% y/y.
0945 ETPrelim-Apr Markit services PMI expected +0.7 to 52.0, Mar +1.6 to 51.3. Apr Markit composite PMI, Mar +1.3 to 51.3.
1000 ETApr Conference Board U.S. consumer confidence index expected -0.3 to 95.9, Mar +2.2 to 96.2.
1000 ETApr Richmond Fed manufacturing survey expected -10 to 12, Mar +26 to 22.
1030 ETFOMC begins 2-day policy meeting.
1300 ETTreasury auctions $ 34 billion of 5-year T-notes.
CHI2130 ETChina Mar industrial profits, Feb -4.7% y/y.
2145 ETChina Apr Westpac-MNI consumer sentiment, Mar +6.8 to 118.1.
U.S. STOCK CALENDAR04/26/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Baxter International IncBAX USBef-mktQ1 2016 Earnings ReleaseQ1 20160.292
Corning IncGLW USBef-mktQ1 2016 Earnings ReleaseQ1 20160.284
EI du Pont de Nemours & CoDD USBef-mktQ1 2016 Earnings ReleaseQ1 20161.036
Entergy CorpETR USBef-mktQ1 2016 Earnings ReleaseQ1 20161.192
Freeport-McMoRan IncFCX USBef-mktQ1 2016 Earnings ReleaseQ1 2016-0.172
Hershey Co/TheHSY USBef-mktQ1 2016 Earnings ReleaseQ1 20161.068
Eli Lilly & CoLLY USBef-mktQ1 2016 Earnings ReleaseQ1 20160.853
3M CoMMM USBef-mktQ1 2016 Earnings ReleaseQ1 20161.924
Procter & Gamble Co/ThePG USBef-mktQ3 2016 Earnings ReleaseQ3 20160.817
Ryder System IncR USBef-mktQ1 2016 Earnings ReleaseQ1 20161.048
PACCAR IncPCAR USBef-mktQ1 2016 Earnings ReleaseQ1 20160.959
Pentair PLCPNR USBef-mktQ1 2016 Earnings ReleaseQ1 20160.713
T Rowe Price Group IncTROW USBef-mktQ1 2016 Earnings ReleaseQ1 20161.032
Simon Property Group IncSPG USBef-mktQ1 2016 Earnings ReleaseQ1 20162.537
Lockheed Martin CorpLMT USBef-mktQ1 2016 Earnings ReleaseQ1 20162.602
Reynolds American IncRAI USBef-mktQ1 2016 Earnings ReleaseQ1 20160.503
DTE Energy CoDTE USBef-mktQ1 2016 Earnings ReleaseQ1 20161.49
Wyndham Worldwide CorpWYN USBef-mktQ1 2016 Earnings ReleaseQ1 20161.105
Whirlpool CorpWHR US6:00Q1 2016 Earnings ReleaseQ1 20162.684
Centene CorpCNC US6:00Q1 2016 Earnings ReleaseQ1 20160.719
Ingersoll-Rand PLCIR US6:30Q1 2016 Earnings ReleaseQ1 20160.367
Masco CorpMAS US7:00Q1 2016 Earnings ReleaseQ1 20160.262
Waters CorpWAT US7:00Q1 2016 Earnings ReleaseQ1 20161.234
McGraw Hill Financial IncMHFI US7:15Q1 2016 Earnings ReleaseQ1 20161.153
Parker-Hannifin CorpPH US7:30Q3 2016 Earnings ReleaseQ3 20161.445
FLIR Systems IncFLIR US7:30Q1 2016 Earnings ReleaseQ1 20160.321
Coca-Cola Enterprises IncCCE US8:00Annual General MeetingY 2016
EI du Pont de Nemours & CoDD US8:00Q1 2016 Earnings CallQ1 2016
Masco CorpMAS US8:00Q1 2016 Earnings CallQ1 2016
Pentair PLCPNR US8:00Q1 2016 Earnings CallQ1 2016
Baxter International IncBAX US8:30Q1 2016 Earnings CallQ1 2016
Corning IncGLW US8:30Q1 2016 Earnings CallQ1 2016
Hershey Co/TheHSY US8:30Q1 2016 Earnings CallQ1 2016
McGraw Hill Financial IncMHFI US8:30Q1 2016 Earnings CallQ1 2016
Procter & Gamble Co/ThePG US8:30Q3 2016 Earnings CallQ3 2016
Express Scripts Holding CoESRX US8:30Q1 2016 Earnings CallQ1 2016
Waters CorpWAT US8:30Q1 2016 Earnings CallQ1 2016
Centene CorpCNC US8:30Q1 2016 Earnings CallQ1 2016
Coach IncCOH US8:30Q3 2016 Earnings CallQ3 2016
Wyndham Worldwide CorpWYN US8:30Q1 2016 Earnings CallQ1 2016
American Electric Power Co IncAEP US9:00Annual General Meeting
Eli Lilly & CoLLY US9:00Q1 2016 Earnings CallQ1 2016
3M CoMMM US9:00Q1 2016 Earnings CallQ1 2016
Exelon CorpEXC US9:00Annual General Meeting
Citigroup IncC US9:00Annual General MeetingY 2016
Reynolds American IncRAI US9:00Q1 2016 Earnings CallQ1 2016
DTE Energy CoDTE US9:00Q1 2016 Earnings CallQ1 2016
Comerica IncCMA US9:30Annual General Meeting
Freeport-McMoRan IncFCX US10:00Q1 2016 Earnings CallQ1 2016
Ingersoll-Rand PLCIR US10:00Q1 2016 Earnings CallQ1 2016
International Business Machines CorpIBM US10:00Annual General MeetingY 2016
Kimco Realty CorpKIM US10:00Annual General MeetingY 2016
Wells Fargo & CoWFC US10:00Annual General MeetingY 2016
Whirlpool CorpWHR US10:00Q1 2016 Earnings CallQ1 2016
Pioneer Natural Resources CoPXD US10:00Q1 2016 Earnings CallQ1 2016
Entergy CorpETR US11:00Q1 2016 Earnings CallQ1 2016
Parker-Hannifin CorpPH US11:00Q3 2016 Earnings CallQ3 2016
PNC Financial Services Group Inc/ThePNC US11:00Annual General MeetingY 2016
Praxair IncPX US11:00Annual General MeetingY 2016
Ryder System IncR US11:00Q1 2016 Earnings CallQ1 2016
PACCAR IncPCAR US11:00Q1 2016 Earnings CallQ1 2016
FLIR Systems IncFLIR US11:00Q1 2016 Earnings CallQ1 2016
Simon Property Group IncSPG US11:00Q1 2016 Earnings CallQ1 2016
Lockheed Martin CorpLMT US11:00Q1 2016 Earnings CallQ1 2016
Centene CorpCNC US11:00Annual General MeetingY 2016
UDR IncUDR US13:00Q1 2016 Earnings CallQ1 2016
PACCAR IncPCAR US13:30Annual General Meeting
FMC CorpFMC US14:00Annual General MeetingY 2016
Capital One Financial CorpCOF US16:05Q1 2016 Earnings ReleaseQ1 20161.92
Robert Half International IncRHI US16:15Q1 2016 Earnings ReleaseQ1 20160.642
Edwards Lifesciences CorpEW US16:15Q1 2016 Earnings ReleaseQ1 20160.658
AT&T IncT US16:30Q1 2016 Earnings CallQ1 2016
Akamai Technologies IncAKAM US16:30Q1 2016 Earnings CallQ1 2016
Chipotle Mexican Grill IncCMG US16:30Q1 2016 Earnings ReleaseQ1 2016-1.054
Danaher CorpDHR US17:00ITC Final Decision Due in Instradent vs. Danaher Corp. Patent Case
Robert Half International IncRHI US17:00Q1 2016 Earnings CallQ1 2016
Total System Services IncTSS US17:00Q1 2016 Earnings CallQ1 2016
Apple IncAAPL US17:00Q2 2016 Earnings CallQ2 2016
Capital One Financial CorpCOF US17:00Q1 2016 Earnings CallQ1 2016
eBay IncEBAY US17:00Q1 2016 Earnings CallQ1 2016
Edwards Lifesciences CorpEW US17:00Q1 2016 Earnings CallQ1 2016
Chipotle Mexican Grill IncCMG US17:00Q1 2016 Earnings CallQ1 2016
Aflac IncAFL USAft-mktQ1 2016 Earnings ReleaseQ1 20161.626
AT&T IncT USAft-mktQ1 2016 Earnings ReleaseQ1 20160.692
Public StoragePSA USAft-mktQ1 2016 Earnings ReleaseQ1 20162.194
Torchmark CorpTMK USAft-mktQ1 2016 Earnings ReleaseQ1 20161.063
Total System Services IncTSS USAft-mktQ1 2016 Earnings ReleaseQ1 20160.613
Apple IncAAPL USAft-mktQ2 2016 Earnings ReleaseQ2 20161.998
KLA-Tencor CorpKLAC USAft-mktQ3 2016 Earnings ReleaseQ3 20160.98
Cincinnati Financial CorpCINF USAft-mktQ1 2016 Earnings ReleaseQ1 20160.727
Equity ResidentialEQR USAft-mktQ1 2016 Earnings ReleaseQ1 20160.758
Realty Income CorpO USAft-mktQ1 2016 Earnings ReleaseQ1 20160.705
Boston Properties IncBXP USAft-mktQ1 2016 Earnings ReleaseQ1 20161.587
CH Robinson Worldwide IncCHRW USAft-mktQ1 2016 Earnings ReleaseQ1 20160.818
FirstEnergy CorpFE USAft-mktQ1 2016 Earnings ReleaseQ1 20160.759
eBay IncEBAY USAft-mktQ1 2016 Earnings ReleaseQ1 20160.446
Akamai Technologies IncAKAM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.631
FMC Technologies IncFTI USAft-mktQ1 2016 Earnings ReleaseQ1 20160.299
Assurant IncAIZ USAft-mktQ1 2016 Earnings ReleaseQ1 20161.213
PerkinElmer IncPKI USAnnual General Meeting
EOG Resources IncEOG USAnnual General Meeting
Noble Energy IncNBL USAnnual General Meeting
BB&T CorpBBT USAnnual General Meeting
SunTrust Banks IncSTI USAnnual General Meeting
VF CorpVFC USAnnual General MeetingY 2016
Perrigo Co PLCPRGO USAnnual General Meeting
Apartment Investment & Management CoAIV USAnnual General Meeting
Affiliated Managers Group IncAMG USQ1 2016 Earnings ReleaseQ1 20162.922
Coach IncCOH USQ3 2016 Earnings ReleaseQ3 20160.414
Wynn Resorts LtdWYNN USQ1 2016 Earnings ReleaseQ1 20160.768
Teradata CorpTDC USAnnual General Meeting
Spectra Energy CorpSE USAnnual General Meeting

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