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
US0700 ETWeekly MBA mortgage applications, previous +1.3% with purchase sub-index -0.5% and refi sub-index +2.6%.
1000 ETMar pending home sales expected +0.5% m/m and +0.8% y/y, Feb +3.5% m/m and +5.1% y/y.
1030 ETEIA Weekly Petroleum Status Report.
1400 ETFOMC announces interest rate decision.
JPN0030 ETJapan Feb all-industry activity index expected -1.3% m/m, Jan +2.0% m/m.
1930 ETJapan Mar jobless rate expected unch at 3.3%. Mar job-to-applicant ratio expected unch at 1.28.
1930 ETJapan Mar overall household spending expected -4.1% y/y, Feb +1.2% y/y.
1930 ETJapan 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 ETJapan 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 ETJapan Mar retail sales expected +0.5% m/m and -1.4% y/y, Feb -2.3% m/m and +0.4% y/y.
1950 ETJapan Mar industrial production expected +2.8% m/m and -1.6% y/y, Feb -5.2% m/m and -1.2% y/y.
GER0200 ETGerman May GfK consumer confidence expected unch at 9.4.
0200 ETGerman Mar import price index expected +0.3% m/m and -6.2% y/y, Feb -0.6% m/m and -5.7% y/y.
EUR0400 ETEurozone Mar M3 money supply expected +5.0% y/y, Feb +5.0% y/y.
UK0430 ETUK Q1 GDP expected +0.4% q/q and +2.0% y/y, Q4 +0.6% q/q and +2.1% y/y.
0430 ETUK 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 ETUK Apr CBI retailing reported sales expected +6 to 13, Mar 7.
U.S. STOCK CALENDAR04/27/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Eaton Corp PLCETN US4:00Annual General MeetingY 2016
Hess CorpHES USBef-mktQ1 2016 Earnings ReleaseQ1 2016-1.834
Baker Hughes IncBHI USBef-mktQ1 2016 Earnings ReleaseQ1 2016-0.332
Boeing Co/TheBA USBef-mktQ1 2016 Earnings ReleaseQ1 20161.837
Boston Scientific CorpBSX USBef-mktQ1 2016 Earnings ReleaseQ1 20160.241
TEGNA IncTGNA USBef-mktQ1 2016 Earnings ReleaseQ1 20160.413
General Dynamics CorpGD USBef-mktQ1 2016 Earnings ReleaseQ1 20162.161
Goodyear Tire & Rubber Co/TheGT USBef-mktQ1 2016 Earnings ReleaseQ1 20160.714
International Paper CoIP USBef-mktQ1 2016 Earnings ReleaseQ1 20160.7
Northrop Grumman CorpNOC USBef-mktQ1 2016 Earnings ReleaseQ1 20162.487
United Technologies CorpUTX USBef-mktQ1 2016 Earnings ReleaseQ1 20161.398
Comcast CorpCMCSA USBef-mktQ1 2016 Earnings ReleaseQ1 20160.793
State Street CorpSTT USBef-mktQ1 2016 Earnings ReleaseQ1 20160.899
Rockwell Automation IncROK USBef-mktQ2 2016 Earnings ReleaseQ2 20161.332
L-3 Communications Holdings IncLLL USBef-mktQ1 2016 Earnings ReleaseQ1 20161.573
Garmin LtdGRMN USBef-mktQ1 2016 Earnings ReleaseQ1 20160.419
Dr Pepper Snapple Group IncDPS USBef-mktQ1 2016 Earnings ReleaseQ1 20160.865
Anthem IncANTM US6:00Q1 2016 Earnings ReleaseQ1 20163.319
Avery Dennison CorpAVY US6:45Q1 2016 Earnings ReleaseQ1 20160.861
Nasdaq IncNDAQ US7:00Q1 2016 Earnings ReleaseQ1 20160.891
Southern Co/TheSO US7:30Q1 2016 Earnings ReleaseQ1 20160.531
Boston Scientific CorpBSX US8:00Q1 2016 Earnings CallQ1 2016
United Technologies CorpUTX US8:00Q1 2016 Earnings CallQ1 2016
Nasdaq IncNDAQ US8:00Q1 2016 Earnings CallQ1 2016
Mondelez International IncMDLZ US8:00Q1 2016 Earnings ReleaseQ1 20160.396
Assurant IncAIZ US8:00Q1 2016 Earnings CallQ1 2016
Franklin Resources IncBEN US8:30Q2 2016 Earnings ReleaseQ2 20160.634
Franklin Resources IncBEN US8:30Q2 2016 Earnings Call – Pre-RecordedC2 2016
Comcast CorpCMCSA US8:30Q1 2016 Earnings CallQ1 2016
Rockwell Automation IncROK US8:30Q2 2016 Earnings CallQ2 2016
CH Robinson Worldwide IncCHRW US8:30Q1 2016 Earnings CallQ1 2016
Anthem IncANTM US8:30Q1 2016 Earnings CallQ1 2016
Aflac IncAFL US9:00Q1 2016 Earnings CallQ1 2016
General Dynamics CorpGD US9:00Q1 2016 Earnings CallQ1 2016
Goodyear Tire & Rubber Co/TheGT US9:00Q1 2016 Earnings CallQ1 2016
FirstEnergy CorpFE US9:00Q1 2016 Earnings CallQ1 2016
FMC Technologies IncFTI US9:00Q1 2016 Earnings CallQ1 2016
State Street CorpSTT US9:30Q1 2016 Earnings CallQ1 2016
Hess CorpHES US10:00Q1 2016 Earnings CallQ1 2016
Avery Dennison CorpAVY US10:00Q1 2016 Earnings CallQ1 2016
Ball CorpBLL US10:00Annual General MeetingY 2016
TEGNA IncTGNA US10:00Q1 2016 Earnings CallQ1 2016
General Electric CoGE US10:00Annual General MeetingY 2016
International Paper CoIP US10:00Q1 2016 Earnings CallQ1 2016
Bank of America CorpBAC US10:00Annual General MeetingY 2016
T Rowe Price Group IncTROW US10:00Annual General MeetingY 2016
Boston Properties IncBXP US10:00Q1 2016 Earnings CallQ1 2016
Mondelez International IncMDLZ US10:00Q1 2016 Earnings CallQ1 2016
Dr Pepper Snapple Group IncDPS US10:00Q1 2016 Earnings CallQ1 2016
Marathon Petroleum CorpMPC US10:00Annual General MeetingY 2016
Boeing Co/TheBA US10:30Q1 2016 Earnings CallQ1 2016
EI du Pont de Nemours & CoDD US10:30Annual General Meeting
Garmin LtdGRMN US10:30Q1 2016 Earnings CallQ1 2016
Franklin Resources IncBEN US11:00Q2 2016 Earnings CallQ2 2016
WW Grainger IncGWW US11:00Annual General MeetingY 2016
McGraw Hill Financial IncMHFI US11:00Annual General MeetingY 2016
Textron IncTXT US11:00Annual General Meeting
Torchmark CorpTMK US11:00Q1 2016 Earnings CallQ1 2016
Cincinnati Financial CorpCINF US11:00Q1 2016 Earnings CallQ1 2016
Equity ResidentialEQR US11:00Q1 2016 Earnings CallQ1 2016
eBay IncEBAY US11:00Annual General MeetingY 2016
Northrop Grumman CorpNOC US11:45Q1 2016 Earnings CallQ1 2016
Ameriprise Financial IncAMP US12:00Annual General Meeting
Southern Co/TheSO US13:00Q1 2016 Earnings CallQ1 2016
Stryker CorpSYK US14:00Annual General MeetingY 2016
L-3 Communications Holdings IncLLL US14:00Q1 2016 Earnings CallQ1 2016
Realty Income CorpO US14:30Q1 2016 Earnings CallQ1 2016
Public StoragePSA US15:00Q1 2016 Earnings CallQ1 2016
Unum GroupUNM US16:15Q1 2016 Earnings ReleaseQ1 20160.909
Texas Instruments IncTXN US16:30Q1 2016 Earnings ReleaseQ1 20160.619
Hologic IncHOLX US16:30Q2 2016 Earnings CallQ2 2016
O’Reilly Automotive IncORLY US16:30Q1 2016 Earnings ReleaseQ1 20162.485
First Solar IncFSLR US16:30Q1 2016 Earnings CallQ1 2016
CR Bard IncBCR US17:00Q1 2016 Earnings CallQ1 2016
XL Group PLCXL US17:00Q1 2016 Earnings CallQ1 2016
Varian Medical Systems IncVAR US17:00Q2 2016 Earnings CallQ2 2016
Vertex Pharmaceuticals IncVRTX US17:00Q1 2016 Earnings CallQ1 2016
Xilinx IncXLNX US17:00Q4 2016 Earnings CallQ4 2016
Marriott International Inc/MDMAR US17:00Q1 2016 Earnings ReleaseQ1 20160.839
Facebook IncFB US17:00Q1 2016 Earnings CallQ1 2016
PayPal Holdings IncPYPL US17:00Q1 2016 Earnings CallQ1 2016
CR Bard IncBCR USAft-mktQ1 2016 Earnings ReleaseQ1 20162.169
Equifax IncEFX USAft-mktQ1 2016 Earnings ReleaseQ1 20161.153
XL Group PLCXL USAft-mktQ1 2016 Earnings ReleaseQ1 20160.496
Kimco Realty CorpKIM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.37
Universal Health Services IncUHS USAft-mktQ1 2016 Earnings ReleaseQ1 20161.869
Varian Medical Systems IncVAR USAft-mktQ2 2016 Earnings ReleaseQ2 20161.082
Hologic IncHOLX USAft-mktQ2 2016 Earnings ReleaseQ2 20160.459
Vertex Pharmaceuticals IncVRTX USAft-mktQ1 2016 Earnings ReleaseQ1 20160.271
Xilinx IncXLNX USAft-mktQ4 2016 Earnings ReleaseQ4 20160.52
AvalonBay Communities IncAVB USAft-mktQ1 2016 Earnings ReleaseQ1 20161.942
SanDisk CorpSNDK USAft-mktQ1 2016 Earnings ReleaseQ1 20160.546
Ameriprise Financial IncAMP USAft-mktQ1 2016 Earnings ReleaseQ1 20162.176
First Solar IncFSLR USAft-mktQ1 2016 Earnings ReleaseQ1 20160.899
Facebook IncFB USAft-mktQ1 2016 Earnings ReleaseQ1 20160.626
PayPal Holdings IncPYPL USAft-mktQ1 2016 Earnings ReleaseQ1 20160.353
Texas Instruments IncTXN US17:30Q1 2016 Earnings CallQ1 2016
Cigna CorpCI USAnnual General Meeting
Coca-Cola Co/TheKO USAnnual General MeetingY 2016
BorgWarner IncBWA USAnnual General Meeting
ADT Corp/TheADT USQ2 2016 Earnings ReleaseQ2 20160.499

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