Wed Apr 27 2016
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Live Index – Wed, 27 Apr 2016 Premarket

PREMARKET WORLD NEWS

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.

U.S. STOCK PREVIEW

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.

PREMARKET U.S. STOCKS

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.

MARKET COMMENTS

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.

GLOBAL EVENT CALENDAR04/27/2016
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.
U.S. STOCK CALENDAR04/27/2016
Company Ticker Time Event Description Period Estimate
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

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