Live Index – Tue, 19 Jul 2016 Premarket
Tue Jul 19 2016
Nikki Bailey (1048 articles)

Live Index – Tue, 19 Jul 2016 Premarket

PREMARKET WORLD NEWS

Sep E-mini S&Ps (ESU16 -0.22%) are down -0.23% and European stocks are down -1.18% on concern the decision by the UK to leave the European Union could weaken economic growth in the Eurozone after the German Jul ZEW survey expectations of economic growth fell more than expected to -6.8, a 3-1/2 year low. Also, Netflix plunged 12% in pre-market trading after it reported a slower-than-expected increase in subscriber growth, and Fiat Chrysler Automobiles NV is down 4% after U.S. authorities opened a criminal investigation of the company amid allegations it inflated sales figures. Asian stocks settled mixed: Japan +1.37%, Hong Kong -0.60%, China -0.23%, Taiwan +0.30%, Australia -0.13%, Singapore -0.31%, South Korea -0.22%, India +0.15%. Japan’s Nikkei Stock Index rallied to a 1-1/4 month high as it reopened following Monday’s holiday, led by a 14% surge in Nintendo as the frenzy over the company’s mobile game Pokemon Go continues.

The dollar index (DXY00 +0.23%) is up +0.21% at a 1-week high. EUR/USD (^EURUSD) is down -0.17%. USD/JPY (^USDJPY) is down -0.02%.

Sep T-note prices (ZNU16 +0.20%) are up +9 ticks.

The German Jul ZEW survey expectations of economic growth plunged -26.0 to -6.8, weaker than expectations of -10.2 to 9.0 and the lowest in 3-1/2 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jun housing starts (expected +0.1% to 1.166 million, May -0.3% to 1.164 million).

There are 17 of the S&P 500 companies that report earnings today with notable reports including: Goldman Sachs (consensus $ 3.05), Microsoft (0.58), UnitedHealth (1.89), Johnson & Johnson (1.68), Cintas (1.01), Discover Financial (1.40), Naviet (0.44).

U.S. IPO’s scheduled to price today: none.

Equity conferences this week include: none.

 

 

PREMARKET U.S. STOCKS

Netflix (NFLX +0.43%) plunged 12% in pre-market trading after it said it sees Q3 international streaming net adds of 2 million, below consensus of 2.54 million, and said it sees Q3 EPS of 5 cents, weaker than consensus of 7 cents.

Seagate Technology PLC (STX +4.33%) was upgrraded to ‘Neutral’ from ‘Sell’ at Citigroup.

Fiat Chrysler Automobiles NV (FCAU -0.30%) dropped 4% in pre-market trading as U.S. authorities are investigating the company on allegations it inflated vehicle sales figures.

International Business Machines (IBM +0.05%) climbed nearly 3% in after-hours trading after it reported Q2 operating EPS of $ 2.95, higher than consensus of $ 2.89.

Super Micro Computer (SMCI +1.31%) sank 18% in after-hours trading after it reported preliminary Q4 adjusted EPS of 15 cents-17 cents, well below an April 28 estimate of 46 cents-58 cents.

VMWare (VMW +0.81%) jumped 8% in after-hours trading after it reported Q2 adjusted EPS of 97 cents, better than consensus of 95 cents.

Spirit Airlines (SAVE +0.74%) lost over 6% in after-hours trading after it reported Q2 TRASM (total revenue per available seat mile) down -14.3% y/y at the lower end of initial guidance range.

Hyatt Hotels (H +0.77%) was downgraded to ‘Hold’ from ‘Buy’ at Stifel.

Yahoo! (YHOO +0.61%) rose nearly 1% in after-hours trading after it reported Q2 revenue ex-TAC $ 841.2 million, higher than consensus of $ 839.6 million.

Rambus (RMBS +0.47%) slipped nearly 3% in after-hours trading after it reported Q2 adjusted EPS of 15 cents, higher than 13 cents, but then forecast Q3 revenue of $ 75 million-$ 80 million, below consensus of $ 84 million.

EMC Corp. (EMC -0.04%) gained over 1% in after-hours trading after it reported Q2 adjusted EPS of 45 cents, higher than consensus of 42 cents.

Enviva Partners LP (EVA -1.65%) was rated a new ‘Buy’ at DA Davidson with a 12-month target price of $ 28.

Wynn Resorts Ltd. (WYNN +4.81%) lost 1% in after-hours trading after MGM Resorts International launched its easyPLAY Mobile Tournaments and is the first regulated casino to host an interactive digital gaming platform.

Hudson Technologies (HDSN +7.98%) surged over 30% in after-hours trading after the U.S. Department of Defense awarded Hudson a 5-year contract worth up to $ 400 million.

MARKET COMMENTS

Sep E-mini S&Ps (ESU16 -0.22%) this morning are down -5.00 points (-0.23%). Monday’s closes: S&P 500 +0.24%, Dow Jones +0.09%, Nasdaq +0.65%. The S&P 500 on Monday closed higher on reduced geopolitical concerns after Turkish President Erdogan put an end to Friday’s failed coup attempt. Stocks were also boosted by strength in bank stocks after Bank of America rose by more than 3% after reporting better-than-expected Q2 EPS. Another positive factor was increased M&A activity after SoftBank Group Corp bought ARM Holdings Plc for $ 32 billion. Stocks were undercut by the -1 point decline in the U.S. Jul NAHB housing market index to 59, weaker than expectations of unchanged at 60.

Sep 10-year T-note prices (ZNU16 +0.20%) this morning are up +9 ticks. Monday’s closes: TYU6 +5.00, FVU6 +3.25. Sep T-notes on Monday recovered from a 3-week low and closed higher on carryover support from a rally in German bunds and on the unexpected -1 point decline in the U.S. July NAHB housing market index. T-notes were undercut by reduced safe-haven demand for T-notes after Turkish President Erdogan regained control of the government following Friday’s failed coup attempt.

The dollar index (DXY00 +0.23%) this morning is up +0.200 (+0.21%) at a 1-week high. EUR/USD (^EURUSD) is down -0.0019 (-0.17%) and USD/JPY (^USDJPY) is down -0.02 (-0.02%). Monday’s closes: Dollar index -0.018 (-0.02%), EUR/USD +0.0040 (+0.36%), USD/JPY +1.28 (+1.22%). The dollar index on Monday closed lower on the unexpected decline in the U.S. July NAHB housing market index and strength in EUR/USD after an upbeat monthly report from the Bundesbank said that “a significant increase in overall economic performance in the summer quarter is expected.”

Aug WTI crude oil prices (CLQ16 -0.11%) this morning are down -16 cents (-0.35%) and Aug gasoline prices (RBQ16 -0.37%) are down -0.0094 (-0.68%). Monday’s closes: CLQ6 -0.75 (-1.63%), RBQ6 -0.0330 (-2.32%). Aug crude oil and gasoline on Monday closed lower on the lack of any disruption in crude oil flows through Turkey, a major distribution point of crude from the Middle East into Europe, after Friday’s failed coup attempt in Turkey.

GLOBAL EVENT CALENDAR 07/19/2016

Tuesday, July 19
US0830 ETJun housing starts expected +0.1% to 1.166 million, May -0.3% to 1.164 million. Jun building permits expected +1.2% to 1.150 million, May +0.5% to 1.136 million.
Wednesday, July 20
US0700 ETWeekly MBA mortgage applications, previous +7.2% with purchase sub-index unch and refi sub-index +11.2%.
1030 ETEIA Weekly Petroleum Status Report.
JPN0130 ETJapan Jun nationwide department store sales, May -5.1% y/y.
GER0200 ETGerman Jun PPI expected +0.2% m/m and -2.4% y/y, May +0.4% m/m and -2.7% y/y.
UK0430 ETUK Jun jobless claims change expected +4,000, May -400. Jun claimant count rate expected unch at 2.2%.
0430 ETUK May average weekly earnings expected +2.3% 3-mon avg y/y, Apr +2.0% 3-mon avg y/y. May weekly earnings ex-bonus expected +2.3% 3-mo avg y/y, Apr +2.3% 3-mo avg y/y.
0430 ETUK ILO unemployment rate expected 5.0% 3-months through May, previous 5.0% 3-months through Apr.
EUR1000 ETEurozone Jul consumer confidence expected -0.7 to -8.0, Jun -0.3 to -7.3.

U.S. STOCK CALENDAR 07/19/2016

CompanyTickerTimeEvent DescriptionPeriodEstimate
Comerica IncCMABef-mktQ2 2016 Earnings ReleaseQ2 20160.692
Genuine Parts CoGPCBef-mktQ2 2016 Earnings ReleaseQ2 20161.294
Kansas City SouthernKSUBef-mktQ2 2016 Earnings ReleaseQ2 20161.024
UnitedHealth Group IncUNHBef-mktQ2 2016 Earnings ReleaseQ2 20161.887
Prologis IncPLDBef-mktQ2 2016 Earnings ReleaseQ2 20160.588
Goldman Sachs Group Inc/TheGSBef-mktQ2 2016 Earnings ReleaseQ2 20163.052
Regions Financial CorpRFBef-mktQ2 2016 Earnings ReleaseQ2 20160.205
Johnson & JohnsonJNJ6:45Q2 2016 Earnings ReleaseQ2 20161.68
Philip Morris International IncPM7:00Q2 2016 Earnings ReleaseQ2 20161.198
Lockheed Martin CorpLMT7:15Q2 2016 Earnings ReleaseQ2 20162.926
WW Grainger IncGWW7:30Q2 2016 Earnings ReleaseQ2 20163.169
WW Grainger IncGWW7:30Q2 2016 Earnings CallQ2 2016
Comerica IncCMA8:00Q2 2016 Earnings CallQ2 2016
Johnson & JohnsonJNJ8:30Q2 2016 Earnings CallQ2 2016
Kansas City SouthernKSU8:45Q2 2016 Earnings CallQ2 2016
UnitedHealth Group IncUNH8:45Q2 2016 Earnings CallQ2 2016
Philip Morris International IncPM9:00Q2 2016 Earnings CallQ2 2016
Goldman Sachs Group Inc/TheGS9:30Q2 2016 Earnings CallQ2 2016
EMC Corp/MAEMC10:00Extraordinary Shareholders Meeting – M&A VoteY 2016
Genuine Parts CoGPC11:00Q2 2016 Earnings CallQ2 2016
Lockheed Martin CorpLMT11:00Q2 2016 Earnings CallQ2 2016
Regions Financial CorpRF11:00Q2 2016 Earnings CallQ2 2016
Prologis IncPLD12:00Q2 2016 Earnings CallQ2 2016
Sempra EnergySRE13:30Business Update Call
Microsoft CorpMSFT16:10Q4 2016 Earnings ReleaseQ4 20160.582
Intuitive Surgical IncISRG16:30Q2 2016 Earnings CallQ2 2016
Cintas CorpCTAS17:00Q4 2016 Earnings CallQ4 2016
Discover Financial ServicesDFS17:00Q2 2016 Earnings CallQ2 2016
Cintas CorpCTASAft-mktQ4 2016 Earnings ReleaseQ4 20161.014
United Continental Holdings IncUALAft-mktQ2 2016 Earnings ReleaseQ2 20162.564
Discover Financial ServicesDFSAft-mktQ2 2016 Earnings ReleaseQ2 20161.403
Navient CorpNAVIAft-mktQ2 2016 Earnings ReleaseQ2 20160.444
Microsoft CorpMSFT17:30Q4 2016 Earnings CallQ4 2016
Intuitive Surgical IncISRGQ2 2016 Earnings ReleaseQ2 20164.983
Nikki Bailey

Nikki Bailey

Nikki Bailey reports on US Stocks. She covers also economy and related aspects. She has been tracking US Stock markets for several years now. She is based in New York

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