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
US 0830 ET Mar 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 ET 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.
0945 ET Prelim-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 ET Apr Conference Board U.S. consumer confidence index expected -0.3 to 95.9, Mar +2.2 to 96.2.
1000 ET Apr Richmond Fed manufacturing survey expected -10 to 12, Mar +26 to 22.
1030 ET FOMC begins 2-day policy meeting.
1300 ET Treasury auctions $ 34 billion of 5-year T-notes.
CHI 2130 ET China Mar industrial profits, Feb -4.7% y/y.
2145 ET China Apr Westpac-MNI consumer sentiment, Mar +6.8 to 118.1.
U.S. STOCK CALENDAR04/26/2016
Company Ticker Time Event Description Period Estimate
Baxter International Inc BAX US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.292
Corning Inc GLW US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.284
EI du Pont de Nemours & Co DD US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.036
Entergy Corp ETR US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.192
Freeport-McMoRan Inc FCX US Bef-mkt Q1 2016 Earnings Release Q1 2016 -0.172
Hershey Co/The HSY US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.068
Eli Lilly & Co LLY US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.853
3M Co MMM US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.924
Procter & Gamble Co/The PG US Bef-mkt Q3 2016 Earnings Release Q3 2016 0.817
Ryder System Inc R US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.048
PACCAR Inc PCAR US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.959
Pentair PLC PNR US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.713
T Rowe Price Group Inc TROW US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.032
Simon Property Group Inc SPG US Bef-mkt Q1 2016 Earnings Release Q1 2016 2.537
Lockheed Martin Corp LMT US Bef-mkt Q1 2016 Earnings Release Q1 2016 2.602
Reynolds American Inc RAI US Bef-mkt Q1 2016 Earnings Release Q1 2016 0.503
DTE Energy Co DTE US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.49
Wyndham Worldwide Corp WYN US Bef-mkt Q1 2016 Earnings Release Q1 2016 1.105
Whirlpool Corp WHR US 6:00 Q1 2016 Earnings Release Q1 2016 2.684
Centene Corp CNC US 6:00 Q1 2016 Earnings Release Q1 2016 0.719
Ingersoll-Rand PLC IR US 6:30 Q1 2016 Earnings Release Q1 2016 0.367
Masco Corp MAS US 7:00 Q1 2016 Earnings Release Q1 2016 0.262
Waters Corp WAT US 7:00 Q1 2016 Earnings Release Q1 2016 1.234
McGraw Hill Financial Inc MHFI US 7:15 Q1 2016 Earnings Release Q1 2016 1.153
Parker-Hannifin Corp PH US 7:30 Q3 2016 Earnings Release Q3 2016 1.445
FLIR Systems Inc FLIR US 7:30 Q1 2016 Earnings Release Q1 2016 0.321
Coca-Cola Enterprises Inc CCE US 8:00 Annual General Meeting Y 2016
EI du Pont de Nemours & Co DD US 8:00 Q1 2016 Earnings Call Q1 2016
Masco Corp MAS US 8:00 Q1 2016 Earnings Call Q1 2016
Pentair PLC PNR US 8:00 Q1 2016 Earnings Call Q1 2016
Baxter International Inc BAX US 8:30 Q1 2016 Earnings Call Q1 2016
Corning Inc GLW US 8:30 Q1 2016 Earnings Call Q1 2016
Hershey Co/The HSY US 8:30 Q1 2016 Earnings Call Q1 2016
McGraw Hill Financial Inc MHFI US 8:30 Q1 2016 Earnings Call Q1 2016
Procter & Gamble Co/The PG US 8:30 Q3 2016 Earnings Call Q3 2016
Express Scripts Holding Co ESRX US 8:30 Q1 2016 Earnings Call Q1 2016
Waters Corp WAT US 8:30 Q1 2016 Earnings Call Q1 2016
Centene Corp CNC US 8:30 Q1 2016 Earnings Call Q1 2016
Coach Inc COH US 8:30 Q3 2016 Earnings Call Q3 2016
Wyndham Worldwide Corp WYN US 8:30 Q1 2016 Earnings Call Q1 2016
American Electric Power Co Inc AEP US 9:00 Annual General Meeting
Eli Lilly & Co LLY US 9:00 Q1 2016 Earnings Call Q1 2016
3M Co MMM US 9:00 Q1 2016 Earnings Call Q1 2016
Exelon Corp EXC US 9:00 Annual General Meeting
Citigroup Inc C US 9:00 Annual General Meeting Y 2016
Reynolds American Inc RAI US 9:00 Q1 2016 Earnings Call Q1 2016
DTE Energy Co DTE US 9:00 Q1 2016 Earnings Call Q1 2016
Comerica Inc CMA US 9:30 Annual General Meeting
Freeport-McMoRan Inc FCX US 10:00 Q1 2016 Earnings Call Q1 2016
Ingersoll-Rand PLC IR US 10:00 Q1 2016 Earnings Call Q1 2016
International Business Machines Corp IBM US 10:00 Annual General Meeting Y 2016
Kimco Realty Corp KIM US 10:00 Annual General Meeting Y 2016
Wells Fargo & Co WFC US 10:00 Annual General Meeting Y 2016
Whirlpool Corp WHR US 10:00 Q1 2016 Earnings Call Q1 2016
Pioneer Natural Resources Co PXD US 10:00 Q1 2016 Earnings Call Q1 2016
Entergy Corp ETR US 11:00 Q1 2016 Earnings Call Q1 2016
Parker-Hannifin Corp PH US 11:00 Q3 2016 Earnings Call Q3 2016
PNC Financial Services Group Inc/The PNC US 11:00 Annual General Meeting Y 2016
Praxair Inc PX US 11:00 Annual General Meeting Y 2016
Ryder System Inc R US 11:00 Q1 2016 Earnings Call Q1 2016
PACCAR Inc PCAR US 11:00 Q1 2016 Earnings Call Q1 2016
FLIR Systems Inc FLIR US 11:00 Q1 2016 Earnings Call Q1 2016
Simon Property Group Inc SPG US 11:00 Q1 2016 Earnings Call Q1 2016
Lockheed Martin Corp LMT US 11:00 Q1 2016 Earnings Call Q1 2016
Centene Corp CNC US 11:00 Annual General Meeting Y 2016
UDR Inc UDR US 13:00 Q1 2016 Earnings Call Q1 2016
PACCAR Inc PCAR US 13:30 Annual General Meeting
FMC Corp FMC US 14:00 Annual General Meeting Y 2016
Capital One Financial Corp COF US 16:05 Q1 2016 Earnings Release Q1 2016 1.92
Robert Half International Inc RHI US 16:15 Q1 2016 Earnings Release Q1 2016 0.642
Edwards Lifesciences Corp EW US 16:15 Q1 2016 Earnings Release Q1 2016 0.658
AT&T Inc T US 16:30 Q1 2016 Earnings Call Q1 2016
Akamai Technologies Inc AKAM US 16:30 Q1 2016 Earnings Call Q1 2016
Chipotle Mexican Grill Inc CMG US 16:30 Q1 2016 Earnings Release Q1 2016 -1.054
Danaher Corp DHR US 17:00 ITC Final Decision Due in Instradent vs. Danaher Corp. Patent Case
Robert Half International Inc RHI US 17:00 Q1 2016 Earnings Call Q1 2016
Total System Services Inc TSS US 17:00 Q1 2016 Earnings Call Q1 2016
Apple Inc AAPL US 17:00 Q2 2016 Earnings Call Q2 2016
Capital One Financial Corp COF US 17:00 Q1 2016 Earnings Call Q1 2016
eBay Inc EBAY US 17:00 Q1 2016 Earnings Call Q1 2016
Edwards Lifesciences Corp EW US 17:00 Q1 2016 Earnings Call Q1 2016
Chipotle Mexican Grill Inc CMG US 17:00 Q1 2016 Earnings Call Q1 2016
Aflac Inc AFL US Aft-mkt Q1 2016 Earnings Release Q1 2016 1.626
AT&T Inc T US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.692
Public Storage PSA US Aft-mkt Q1 2016 Earnings Release Q1 2016 2.194
Torchmark Corp TMK US Aft-mkt Q1 2016 Earnings Release Q1 2016 1.063
Total System Services Inc TSS US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.613
Apple Inc AAPL US Aft-mkt Q2 2016 Earnings Release Q2 2016 1.998
KLA-Tencor Corp KLAC US Aft-mkt Q3 2016 Earnings Release Q3 2016 0.98
Cincinnati Financial Corp CINF US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.727
Equity Residential EQR US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.758
Realty Income Corp O US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.705
Boston Properties Inc BXP US Aft-mkt Q1 2016 Earnings Release Q1 2016 1.587
CH Robinson Worldwide Inc CHRW US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.818
FirstEnergy Corp FE US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.759
eBay Inc EBAY US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.446
Akamai Technologies Inc AKAM US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.631
FMC Technologies Inc FTI US Aft-mkt Q1 2016 Earnings Release Q1 2016 0.299
Assurant Inc AIZ US Aft-mkt Q1 2016 Earnings Release Q1 2016 1.213
PerkinElmer Inc PKI US Annual General Meeting
EOG Resources Inc EOG US Annual General Meeting
Noble Energy Inc NBL US Annual General Meeting
BB&T Corp BBT US Annual General Meeting
SunTrust Banks Inc STI US Annual General Meeting
VF Corp VFC US Annual General Meeting Y 2016
Perrigo Co PLC PRGO US Annual General Meeting
Apartment Investment & Management Co AIV US Annual General Meeting
Affiliated Managers Group Inc AMG US Q1 2016 Earnings Release Q1 2016 2.922
Coach Inc COH US Q3 2016 Earnings Release Q3 2016 0.414
Wynn Resorts Ltd WYNN US Q1 2016 Earnings Release Q1 2016 0.768
Teradata Corp TDC US Annual General Meeting
Spectra Energy Corp SE US Annual General Meeting

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