Live Index – Wed, 27 Apr 2016 Premarket
Jun E-mini S&Ps (ESM16 -0.30%) are down -0.29% as technology stocks fall, led by a 7% decline in Apple in pre-market trading, after it posted its first quarterly-revenue decline in more than 10 years. Losses were contained after energy producers rose as crude oil (CLM16 +1.73%) is up +2.04% at a 5-3/4 month high. European stocks are down -0.10%, although losses were limited by rallies in Barclays Plc and Total SA after both companies gained on better-than-expected quarterly earnings results. Also, Adidas AG jumped 7% to a record after the company raised its annual profit forecast. In addition, a gauge of German consumer confidence unexpectedly increased as the May GfK consumer confidence rose to an 8-month high. Asian stocks settled mostly lower: Japan -0.36%, Hong Kong -0.21%, China -0.37%, Taiwan -0.22%, Australia -0.63%, Singapore -0.69%, South Korea -0.09%, India +0.22%. Asian markets declined as most technology companies that supply Apple fell.
The dollar index (DXY00 -0.16%) is down -0.21%. EUR/USD (^EURUSD) is up +0.12%. USD/JPY (^USDJPY) is down -0.07%.
Jun T-note prices (ZNM16 +0.17%) are up +7 ticks as stocks fall and on short covering ahead of the outcome of today’s FOMC meeting.
German May GfK consumer confidence unexpectedly rose +0.3 to 9.7, stronger than expectations of no change at 9.4 and the highest in 8 months.
UK Q1 GDP of +0.4% q/q and +2.1% y/y was close to expectations of +0.4% q/q and+2.0% y/y.
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +1.3% with purchase sub-index -0.5% and refi sub-index +2.6%), (2) Mar pending home sales (expected +0.5% m/m and +0.8% y/y, Feb +3.5% m/m and +5.1% y/y), and (3) FOMC announces its policy decision at the conclusion of its 2-day meeting.
There are 42 of the S&P 500 companies that report earnings today with notable reports including: Facebook (consensus $ 0.63), PayPal (0.35), Boeing (1.84), General Dynamics (2.16), Nasdaq (0.89), First Solar (0.90), TI (0.62), Southern Co (0.53),
U.S. IPO’s scheduled to price today: none.
Equity conferences this week include: Nomura Retail and Restaurants Conference on Wed.
Apple (AAPL -0.69%) dropped more than 7% in pre-market trading after it forecast Q3 revenue of $ 41 billion-$ 43 billion, weaker than consensus of $ 47.35 billion and below the lowest estimate of $ 43.95 billion.
Capital One Financial (COF +1.29%) dropped nearly 2% in after-hours trading after it reported Q1 adjusted EPS continuing operations of $ 1.85, weaker than consensus of $ 1.92.
Twitter (TWTR +3.86%) slid 14% in pre-market trading after it said it sees Q2 revenue of $ 590 million-$ 610 million, well below consensus of $ 677.1 million.
Panera Bread (PNRA -1.50%) climbed 2% in after-hours trading after it reported Q1 adjusted EPS of $ 1.56, better than consensus of $ 1.50,
Total System Services (TSS +0.82%) gained over 4% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $ 2.78-$ 2.85 from a January 26 estimate of $ 2.56-$ 2.62.
Cree (CREE +1.65%) climbed 2% in after-hours trading after it reported Q3 adjusted EPS of 17 cents, higher than consensus of 14 cents.
Buffalo Wild Wings (BWLD +0.13%) slumped over 10% in after-hours trading after it lowered guidance on fiscal 2016 EPS to $ 5.65-$ 5.85 from a February 3 estimate of $ 5.95-$ 6.20, below consensus of $ 6.10.
Hub Group (HUBG +2.93%) rallied 5% in after-hours trading after it reported Q1 adjusted EPS of 58 cents, well above consensus of 40 cents.
ViaSat (VSAT +1.30%) gained over 1% in after-hours trading after it was announced that it will replace Acuity Brands in the S&P MidCap 400 after the close of trading on Monday, May 2.
AT&T (T -0.31%) slid over 1% in after-hours trading after it reported Q1 adjusted EPS of 72 cents, better than consensus of 69 cents, but said it added a total 129,000 monthly subscribers, fewer than consensus of 283,000.
Acuity Brands (AYI +1.42%) rose over 1% in after-hours trading after it was announced that Acuity will replace ADT Corp. in the S&P 500 after the close of trading on Monday, May 2.
H&R Block (HRB -0.92%) tumbled over 6% in after-hours trading after it said it sees fiscal 3016 revenue falling year-on-year after total U.S. assisted tax returns prepared through April 19 fell 5.8%
Collegium Pharmaceuticals (COLL -2.18%) rallied over 12% in after-hours trading after it received FDA approval for its Xtampza ER drug extended-release capsules.
Barracuda Networks (CUDA -2.14%) rose over 9% in after-hours trading after it reported Q4 adjusted EPS of 15 cents, well above consensus of 9 cents.
Wabash National (WNC +4.98%) jumped nearly 13% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $ 1.65-$ 1.75 from a February 3 estimate of $ 1.50-$ 1.60, higher than consensus of $ 1.52.
June E-mini S&Ps (ESM16 -0.30%) this morning are down -6.00 points (-0.29%). Tuesday’s closes: S&P 500 +0.19%, Dow Jones +0.07%, Nasdaq -0.47%. The S&P 500 on Tuesday closed higher on strength in energy producers as crude oil rallied and on mostly upbeat company Q1 quarterly earnings results thus far. Stocks were undercut by stagnant capital spending after the U.S. Mar capital goods orders nondefense ex-aircraft report was unchanged. Stocks were also undercut by the -1.9 point decline in the Conference Board’s U.S. Apr consumer confidence index, which was weaker than expectations of -0.4 to 95.8.
June 10-year T-note prices (ZNM16 +0.17%) this morning are up +7 ticks. Tuesday’s closes: TYM6 -6.50, FVM6 -4.00. Jun T-notes on Tuesday dropped to a 4-week low and closed lower on supply pressures as the Treasury auctions $ 103 billion of T-notes this week, on negative carryover from a fall in German bund prices to a 5-week low, and on increased inflation expectations after the 10-year T-note breakeven inflation rate rose to an 8-1/2 month high.
The dollar index (DXY00 -0.16%) this morning is down -0.199 (-0.21%). EUR/USD (^EURUSD) is up +0.0014 (+0.12%). USD/JPY (^USDJPY) is down -0.08 (-0.07%). Tuesday’s closes: Dollar Index -0.269 (-0.28%), EUR/USD +0.0029 (+0.26%), USD/JPY +0.11 (+0.10%). The dollar index on Tuesday closed lower on the weaker-than-expected U.S. Mar durable goods orders and Apr consumer confidence reports and on the outlook for the Fed to stand pat on interest rates at the conclusion of the 2-day FOMC meeting on Wednesday.
June WTI crude oil (CLM16 +1.73%) this morning is up +90 cents (+2.04%) at a 5-3/4 month high. June gasoline (RBM16 +0.85%) is up +0.0190 (+1.20%). Tuesday’s closes: CLM6 +1.40 (+3.28%), RBM6 +0.0628 (+4.10%). Jun crude and gasoline on Tuesday closed higher with Jun gasoline at a 4-1/2 month high. Crude oil prices were boosted by a weaker dollar, strong refinery demand for gasoline after the crack spread rose to a 3-1/2 week high, and expectations that Wednesday’s weekly EIA data will show that U.S. crude production continues to decline.
|US||0700 ET||Weekly MBA mortgage applications, previous +1.3% with purchase sub-index -0.5% and refi sub-index +2.6%.|
|1000 ET||Mar pending home sales expected +0.5% m/m and +0.8% y/y, Feb +3.5% m/m and +5.1% y/y.|
|1030 ET||EIA Weekly Petroleum Status Report.|
|1400 ET||FOMC announces interest rate decision.|
|JPN||0030 ET||Japan Feb all-industry activity index expected -1.3% m/m, Jan +2.0% m/m.|
|1930 ET||Japan Mar jobless rate expected unch at 3.3%. Mar job-to-applicant ratio expected unch at 1.28.|
|1930 ET||Japan Mar overall household spending expected -4.1% y/y, Feb +1.2% y/y.|
|1930 ET||Japan Mar national CPI expected unch y/y, Feb +0.3% y/y. Mar national CPI ex-fresh food expected -0.2% y/y, Feb unch y/y. Mar national CPI ex food & energy expected +0.8% y/y, Feb +0.8% y/y.|
|1930 ET||Japan Apr Tokyo CPI expected -0.2% y/y, Mar -0.1% y/y. Apr Tokyo CPI ex-fresh food expected -0.3% y/y, Mar -0.3% y/y. Apr Tokyo CPI ex food & energy expected +0.5% y/y, Mar +0.6% y/y.|
|1950 ET||Japan Mar retail sales expected +0.5% m/m and -1.4% y/y, Feb -2.3% m/m and +0.4% y/y.|
|1950 ET||Japan Mar industrial production expected +2.8% m/m and -1.6% y/y, Feb -5.2% m/m and -1.2% y/y.|
|GER||0200 ET||German May GfK consumer confidence expected unch at 9.4.|
|0200 ET||German Mar import price index expected +0.3% m/m and -6.2% y/y, Feb -0.6% m/m and -5.7% y/y.|
|EUR||0400 ET||Eurozone Mar M3 money supply expected +5.0% y/y, Feb +5.0% y/y.|
|UK||0430 ET||UK Q1 GDP expected +0.4% q/q and +2.0% y/y, Q4 +0.6% q/q and +2.1% y/y.|
|0430 ET||UK Feb index of services expected +0.2% m/m and +0.8% 3-mo/3-mo, Jan +0.2% m/m and +0.9% 3-mo/3-mo.|
|0600 ET||UK Apr CBI retailing reported sales expected +6 to 13, Mar 7.|
|Eaton Corp PLC||ETN US||4:00||Annual General Meeting||Y 2016|
|Hess Corp||HES US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||-1.834|
|Baker Hughes Inc||BHI US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||-0.332|
|Boeing Co/The||BA US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||1.837|
|Boston Scientific Corp||BSX US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.241|
|TEGNA Inc||TGNA US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.413|
|General Dynamics Corp||GD US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||2.161|
|Goodyear Tire & Rubber Co/The||GT US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.714|
|International Paper Co||IP US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.7|
|Northrop Grumman Corp||NOC US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||2.487|
|United Technologies Corp||UTX US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||1.398|
|Comcast Corp||CMCSA US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.793|
|State Street Corp||STT US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.899|
|Rockwell Automation Inc||ROK US||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||1.332|
|L-3 Communications Holdings Inc||LLL US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||1.573|
|Garmin Ltd||GRMN US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.419|
|Dr Pepper Snapple Group Inc||DPS US||Bef-mkt||Q1 2016 Earnings Release||Q1 2016||0.865|
|Anthem Inc||ANTM US||6:00||Q1 2016 Earnings Release||Q1 2016||3.319|
|Avery Dennison Corp||AVY US||6:45||Q1 2016 Earnings Release||Q1 2016||0.861|
|Nasdaq Inc||NDAQ US||7:00||Q1 2016 Earnings Release||Q1 2016||0.891|
|Southern Co/The||SO US||7:30||Q1 2016 Earnings Release||Q1 2016||0.531|
|Boston Scientific Corp||BSX US||8:00||Q1 2016 Earnings Call||Q1 2016|
|United Technologies Corp||UTX US||8:00||Q1 2016 Earnings Call||Q1 2016|
|Nasdaq Inc||NDAQ US||8:00||Q1 2016 Earnings Call||Q1 2016|
|Mondelez International Inc||MDLZ US||8:00||Q1 2016 Earnings Release||Q1 2016||0.396|
|Assurant Inc||AIZ US||8:00||Q1 2016 Earnings Call||Q1 2016|
|Franklin Resources Inc||BEN US||8:30||Q2 2016 Earnings Release||Q2 2016||0.634|
|Franklin Resources Inc||BEN US||8:30||Q2 2016 Earnings Call – Pre-Recorded||C2 2016|
|Comcast Corp||CMCSA US||8:30||Q1 2016 Earnings Call||Q1 2016|
|Rockwell Automation Inc||ROK US||8:30||Q2 2016 Earnings Call||Q2 2016|
|CH Robinson Worldwide Inc||CHRW US||8:30||Q1 2016 Earnings Call||Q1 2016|
|Anthem Inc||ANTM US||8:30||Q1 2016 Earnings Call||Q1 2016|
|Aflac Inc||AFL US||9:00||Q1 2016 Earnings Call||Q1 2016|
|General Dynamics Corp||GD US||9:00||Q1 2016 Earnings Call||Q1 2016|
|Goodyear Tire & Rubber Co/The||GT US||9:00||Q1 2016 Earnings Call||Q1 2016|
|FirstEnergy Corp||FE US||9:00||Q1 2016 Earnings Call||Q1 2016|
|FMC Technologies Inc||FTI US||9:00||Q1 2016 Earnings Call||Q1 2016|
|State Street Corp||STT US||9:30||Q1 2016 Earnings Call||Q1 2016|
|Hess Corp||HES US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Avery Dennison Corp||AVY US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Ball Corp||BLL US||10:00||Annual General Meeting||Y 2016|
|TEGNA Inc||TGNA US||10:00||Q1 2016 Earnings Call||Q1 2016|
|General Electric Co||GE US||10:00||Annual General Meeting||Y 2016|
|International Paper Co||IP US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Bank of America Corp||BAC US||10:00||Annual General Meeting||Y 2016|
|T Rowe Price Group Inc||TROW US||10:00||Annual General Meeting||Y 2016|
|Boston Properties Inc||BXP US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Mondelez International Inc||MDLZ US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Dr Pepper Snapple Group Inc||DPS US||10:00||Q1 2016 Earnings Call||Q1 2016|
|Marathon Petroleum Corp||MPC US||10:00||Annual General Meeting||Y 2016|
|Boeing Co/The||BA US||10:30||Q1 2016 Earnings Call||Q1 2016|
|EI du Pont de Nemours & Co||DD US||10:30||Annual General Meeting|
|Garmin Ltd||GRMN US||10:30||Q1 2016 Earnings Call||Q1 2016|
|Franklin Resources Inc||BEN US||11:00||Q2 2016 Earnings Call||Q2 2016|
|WW Grainger Inc||GWW US||11:00||Annual General Meeting||Y 2016|
|McGraw Hill Financial Inc||MHFI US||11:00||Annual General Meeting||Y 2016|
|Textron Inc||TXT US||11:00||Annual General Meeting|
|Torchmark Corp||TMK US||11:00||Q1 2016 Earnings Call||Q1 2016|
|Cincinnati Financial Corp||CINF US||11:00||Q1 2016 Earnings Call||Q1 2016|
|Equity Residential||EQR US||11:00||Q1 2016 Earnings Call||Q1 2016|
|eBay Inc||EBAY US||11:00||Annual General Meeting||Y 2016|
|Northrop Grumman Corp||NOC US||11:45||Q1 2016 Earnings Call||Q1 2016|
|Ameriprise Financial Inc||AMP US||12:00||Annual General Meeting|
|Southern Co/The||SO US||13:00||Q1 2016 Earnings Call||Q1 2016|
|Stryker Corp||SYK US||14:00||Annual General Meeting||Y 2016|
|L-3 Communications Holdings Inc||LLL US||14:00||Q1 2016 Earnings Call||Q1 2016|
|Realty Income Corp||O US||14:30||Q1 2016 Earnings Call||Q1 2016|
|Public Storage||PSA US||15:00||Q1 2016 Earnings Call||Q1 2016|
|Unum Group||UNM US||16:15||Q1 2016 Earnings Release||Q1 2016||0.909|
|Texas Instruments Inc||TXN US||16:30||Q1 2016 Earnings Release||Q1 2016||0.619|
|Hologic Inc||HOLX US||16:30||Q2 2016 Earnings Call||Q2 2016|
|O’Reilly Automotive Inc||ORLY US||16:30||Q1 2016 Earnings Release||Q1 2016||2.485|
|First Solar Inc||FSLR US||16:30||Q1 2016 Earnings Call||Q1 2016|
|CR Bard Inc||BCR US||17:00||Q1 2016 Earnings Call||Q1 2016|
|XL Group PLC||XL US||17:00||Q1 2016 Earnings Call||Q1 2016|
|Varian Medical Systems Inc||VAR US||17:00||Q2 2016 Earnings Call||Q2 2016|
|Vertex Pharmaceuticals Inc||VRTX US||17:00||Q1 2016 Earnings Call||Q1 2016|
|Xilinx Inc||XLNX US||17:00||Q4 2016 Earnings Call||Q4 2016|
|Marriott International Inc/MD||MAR US||17:00||Q1 2016 Earnings Release||Q1 2016||0.839|
|Facebook Inc||FB US||17:00||Q1 2016 Earnings Call||Q1 2016|
|PayPal Holdings Inc||PYPL US||17:00||Q1 2016 Earnings Call||Q1 2016|
|CR Bard Inc||BCR US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||2.169|
|Equifax Inc||EFX US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||1.153|
|XL Group PLC||XL US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.496|
|Kimco Realty Corp||KIM US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.37|
|Universal Health Services Inc||UHS US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||1.869|
|Varian Medical Systems Inc||VAR US||Aft-mkt||Q2 2016 Earnings Release||Q2 2016||1.082|
|Hologic Inc||HOLX US||Aft-mkt||Q2 2016 Earnings Release||Q2 2016||0.459|
|Vertex Pharmaceuticals Inc||VRTX US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.271|
|Xilinx Inc||XLNX US||Aft-mkt||Q4 2016 Earnings Release||Q4 2016||0.52|
|AvalonBay Communities Inc||AVB US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||1.942|
|SanDisk Corp||SNDK US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.546|
|Ameriprise Financial Inc||AMP US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||2.176|
|First Solar Inc||FSLR US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.899|
|Facebook Inc||FB US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.626|
|PayPal Holdings Inc||PYPL US||Aft-mkt||Q1 2016 Earnings Release||Q1 2016||0.353|
|Texas Instruments Inc||TXN US||17:30||Q1 2016 Earnings Call||Q1 2016|
|Cigna Corp||CI US||Annual General Meeting|
|Coca-Cola Co/The||KO US||Annual General Meeting||Y 2016|
|BorgWarner Inc||BWA US||Annual General Meeting|
|ADT Corp/The||ADT US||Q2 2016 Earnings Release||Q2 2016||0.499|