US : Pre Market News – 05 Aug 2016
Fri Aug 05 2016
Nikki Bailey (263 articles)
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US : Pre Market News – 05 Aug 2016

NEW YORK :

PREMARKET WORLD NEWS

Sep E-mini S&Ps (ESU16 +0.19%) are up +0.27% and European stocks are up +0.34% on speculation central banks around the world will continue to implement measures to support the global economy. Trading activity was light ahead of this morning’s monthly U.S. payrolls report. Stronger-than-expected company quarterly earnings results are giving stocks a boost with Priceline Group up nearly 5% and Kraft Heinz up over 3% in pre-market trading. Gains in stocks were limited as an -0.88% decline in crude oil prices (CLU16 -0.86%) put pressure on energy producing stocks, while the upside in European equities was contained after German Jun factory orders came in weaker-than-expected. Asian stocks settled mixed: Japan unch, Hong Kong +1.44%, China -0.19%, Taiwan +0.75%, Australia +0.39%, Singapore -0.13%, South Korea +1.25%, India +1.31%.

The dollar index (DXY00 -0.17%) is down -0.11%. EUR/USD (^EURUSD) is up +0.17%. USD/JPY (^USDJPY) is down -0.17%.

Sep T-note prices (ZNU16 +0.04%) are little changed, up +1 tick.

German Jun factory orders of -0.4% m/m and -3.1% y/y were weaker than expectations of +0.5% m/m and -1.5% y/y with the -3.1% y/y drop the largest year-over-year decline in 3-3/4 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jul non-farm payrolls (expected +180,000, Jun +287,000) and Jul unemployment rate (expected -0.1 to 4.8%, Jun +0.2 to 4.9%), (2) Jun trade balance (expected -$ 43.0 billion, May -$ 41.1 billion), and (3) Jun consumer credit expected +16.0 billion, May +$ 18.558 billion.

There are 8 of the S&P 500 companies that report earnings today: Berkshire Hathaway (consensus $ 2911), CenterPoint Energy (0.20), Weyerhaeuser (0.22), AES (0.16), DENTSPLY STRONA (0.0), Ameren (0.52), Cognizant Technology (0.82), Willis Towers Watson (1.63).

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

Equity conferences today: none.

PREMARKET U.S. STOCKS

Kraft Heinz (KHC +0.75%) rose over3% in pre-market trading after it reported Q2 adjusted EPS of 85 cents, higher than consensus of 71 cents.

Priceline Group (PCLN -0.81%) climbed nearly 5% in pre-market trading after it reported Q2 adjusted EPS of $ 13.93, well above consensus of $ 12.67.

Esterline Technologies (ESL +1.19%) rallied over 4% in after-hours trading after it reported Q3 adjusted EPS of $ 1.38, better than consensus of $ 1.30.

Activision Blizzard (ATVI +1.11%) gained over 1% in after-hours trading after it reported Q2 adjusted EPS of 54 cents, above consensus of 43 cents.

Monster Beverage (MNST +0.52%) rose over 2% in after-hours trading after it reported Q2 revenue of $ 827.5 million, higher than consensus of $ 804.2 million.

Weight Watchers International (WTW +5.37%) dropped over 6% in after-hours trading after it reported Q2 revenue of $ 309.8 million, below consensus of $ 318.5 million.

Symantec (SYMC +0.62%) climbed over 4% in after-hours trading after it raised guidance on fiscal 2017 adjusted EPS of $ 1.08-$ 1.14 from a May 12 view of $ 1.06-$ 1.10.

Take-Two Interactive Software (TTWO -0.54%) gained over 3% in after-hours trading after it reported a Q1 loss of -21 cents per share, a smaller loss than consensus of -29 cents.

Universal Display (OLED -2.40%) dropped 8% in after-hours trading after it reported Q2 EPS of 46 cents, weaker than consensus of 51 cents.

El Pollo Loco Holdings (LOCO -0.15%) rose over 8% in after-hours trading after it reported Q2 system-wide comparable sales were up +2.4%, better than consensus of +1.6%,

Mastec (MTZ -1.69%) climbed over 12% in after-hours trading after it raised guidance on 2016 adjusted EPS to $ 1.57, above a prior forecast of $ 1.37-$ 1.47.

Pacific Biosciences of California (PACB unch) jumped over 13% in after-hours trading after it reported a Q2 loss of -21 cents, smaller than consensus of -22 cents.

FireEye (FEYE -3.01%) slumped over 13% in after-hours trading after it said it now sees an adjusted loss per share this year between -$ 1.28 to -$ 1.32, a bigger loss than a previous estimate of -$ 1.20 to -$ 1.27.

Rackspace Hosting (RAX +14.64%) surged over 18% in after-hours trading after Dow Jones reported that it is in advanced talks to be sold to a PE firm.

Hortonworks (HDP -0.47%) plunged over 25% in after-hours trading after it reported a Q1 non-GAAP loss of -72 cents, wider than expectations of -68 cents.

MARKET COMMENTS

Sep E-mini S&Ps (ESU16 +0.19%) this morning are up +5.75 points (+0.27%). Thursday’s closes: S&P 500 +0.02%, Dow Jones -0.02%, Nasdaq +0.20%. The S&P 500 on Thursday closed slightly higher on the BOE’s interest rate cut and new QE program and on the stronger-than-expected U.S. Jun factory orders report (-1.5% and +0.4% ex transportation vs. expectations of -1.9% and -0.2% ex transportation). Stocks were slightly undercut by the +3,000 increase in U.S. weekly initial unemployment claims.

Sep 10-year T-notes (ZNU16 +0.04%) this morning are up +1 tick. Thursday’s closes: TYU6 +12.00, FVU6 +6.25. Sep T-notes on Thursday closed higher on carry-over support from a rally in UK gilt prices to a record high after the BOE cut interest rates and expanded stimulus measures.

The dollar index (DXY00 -0.17%) this morning is down -0.110 (-0.11%). EUR/USD (^EURUSD) is up +0.0019 (+0.17%). USD/JPY (^USDJPY) is down -0.17 (-0.17%). Thursday’s closes: Dollar index +0.195 (+0.20%), EUR/USD -0.0019 (-0.17%), USD/JPY -0.02 (-0.02%). The dollar index on Thursday closed higher on weakness in GBP/USD which fell to a 1-week low after the BOE cut its benchmark interest rate by 25 bp to a record low 0.25% and boosted its asset purchase target by 60 billion pounds to 435 billion pounds. The dollar also received a boost from the stronger-than-expected U.S. Jun factory orders report.

Sep WTI crude oil (CLU16 -0.86%) this morning is down -37 cents (-0.88%) and Sep gasoline (RBU16 -1.02%) is down -0.0129 (-0.94%). Thursday’s closes: CLU6 +1.10 (+2.69%), RBU6 +0.0181 (+1.34%). Sep crude oil and gasoline on Thursday closed higher on the BOE’s new stimulus measures and on the closure of the two biggest Mexican Gulf Coast oil export terminals due to Tropical Storm Earl. A bearish factor was the stronger dollar.

GLOBAL EVENT CALENDAR 08/05/2016
Friday, Aug 5
US0830 ETJul non-farm payrolls expected +180,000, Jun +287,000. Jul private payrolls expected +171,000, Jun +265,000. Jul manufacturing payrolls expected +4,000, Jun +14,000. Jul unemployment rate expected -0.1 to 4.8%, Jun +0.2 to 4.9%.
0830 ETJul avg hourly earnings expected +0.2% m/m and +2.6% y/y, Jun +0.1% m/m and +2.6% y/y. Jul avg weekly hours all employees expected unch at 34.4 hours, Jun unch at 34.4 hours.
0830 ETJun trade balance expected -$ 43.0 billion, May -$ 41.1 billion.
1400 ETJun consumer credit expected +16.0 billion, May +$ 18.558 billion.
Monday, Aug 8
MonUS1100 ETUSDA weekly grain export inspections.
1600 ETUSDA Weekly Crop Progress.
JPN0030 ETJapan Jul bankruptcies, Jun -7.4% y/y.
0100 ETJapan Jul eco-watchers survey outlook, Jun 41.5. Jul eco-watchers survey current, Jun 41.2.
GER0200 ETGerman Jun industrial production, May -1.3% m/m and -0.4% y/y.
EUR0400 ETEurozone Aug Sentix investor confidence, Jul -8.2 to 1.7.
UK1901 ETUK Jul BRC sales like-for-like, Jun -0.5% y/y.
CHI2130 ETChina Jul CPI expected +1.7% y/y, Jun +1.9% y/y. Jul PPI expected -2.0% y/y, Jun -2.6% y/y.
U.S. STOCK CALENDAR 08/05/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
CenterPoint Energy IncCNPBef-mktQ2 2016 Earnings ReleaseQ2 20160.202
Weyerhaeuser CoWYBef-mktQ2 2016 Earnings ReleaseQ2 20160.218
AES Corp/VAAESBef-mktQ2 2016 Earnings ReleaseQ2 20160.162
DENTSPLY SIRONA IncXRAYBef-mktQ2 2016 Earnings ReleaseQ2 20160.7
Ameren CorpAEEBef-mktQ2 2016 Earnings ReleaseQ2 20160.515
Cognizant Technology Solutions CorpCTSHBef-mktQ2 2016 Earnings ReleaseQ2 20160.817
Willis Towers Watson PLCWLTWBef-mktQ2 2016 Earnings ReleaseQ2 20161.631
Cognizant Technology Solutions CorpCTSH8:00Q2 2016 Earnings CallQ2 2016
DENTSPLY SIRONA IncXRAY8:30Q2 2016 Earnings CallQ2 2016
AES Corp/VAAES9:00Q2 2016 Earnings CallQ2 2016
Willis Towers Watson PLCWLTW9:00Q2 2016 Earnings CallQ2 2016
EOG Resources IncEOG10:00Q2 2016 Earnings CallQ2 2016
Weyerhaeuser CoWY10:00Q2 2016 Earnings CallQ2 2016
Ameren CorpAEE10:00Q2 2016 Earnings CallQ2 2016
Federal Realty Investment TrustFRT11:00Q2 2016 Earnings CallQ2 2016
CenterPoint Energy IncCNP11:00Q2 2016 Earnings CallQ2 2016
Mohawk Industries IncMHK11:00Q2 2016 Earnings CallQ2 2016
Baker Hughes IncBHIJuly 2016 Sales and Revenue Release – Rig Counts2016
Berkshire Hathaway IncBRK/AQ2 2016 Earnings ReleaseQ2 20162910.79

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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