US : Pre Market News – 05 Aug 2016
NEW YORK :
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.
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.
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.
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.
|Friday, Aug 5|
|US||0830 ET||Jul 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 ET||Jul 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 ET||Jun trade balance expected -$ 43.0 billion, May -$ 41.1 billion.|
|1400 ET||Jun consumer credit expected +16.0 billion, May +$ 18.558 billion.|
|Monday, Aug 8|
|Mon||US||1100 ET||USDA weekly grain export inspections.|
|1600 ET||USDA Weekly Crop Progress.|
|JPN||0030 ET||Japan Jul bankruptcies, Jun -7.4% y/y.|
|0100 ET||Japan Jul eco-watchers survey outlook, Jun 41.5. Jul eco-watchers survey current, Jun 41.2.|
|GER||0200 ET||German Jun industrial production, May -1.3% m/m and -0.4% y/y.|
|EUR||0400 ET||Eurozone Aug Sentix investor confidence, Jul -8.2 to 1.7.|
|UK||1901 ET||UK Jul BRC sales like-for-like, Jun -0.5% y/y.|
|CHI||2130 ET||China Jul CPI expected +1.7% y/y, Jun +1.9% y/y. Jul PPI expected -2.0% y/y, Jun -2.6% y/y.|
|CenterPoint Energy Inc||CNP||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.202|
|Weyerhaeuser Co||WY||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.218|
|AES Corp/VA||AES||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.162|
|DENTSPLY SIRONA Inc||XRAY||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.7|
|Ameren Corp||AEE||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.515|
|Cognizant Technology Solutions Corp||CTSH||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||0.817|
|Willis Towers Watson PLC||WLTW||Bef-mkt||Q2 2016 Earnings Release||Q2 2016||1.631|
|Cognizant Technology Solutions Corp||CTSH||8:00||Q2 2016 Earnings Call||Q2 2016|
|DENTSPLY SIRONA Inc||XRAY||8:30||Q2 2016 Earnings Call||Q2 2016|
|AES Corp/VA||AES||9:00||Q2 2016 Earnings Call||Q2 2016|
|Willis Towers Watson PLC||WLTW||9:00||Q2 2016 Earnings Call||Q2 2016|
|EOG Resources Inc||EOG||10:00||Q2 2016 Earnings Call||Q2 2016|
|Weyerhaeuser Co||WY||10:00||Q2 2016 Earnings Call||Q2 2016|
|Ameren Corp||AEE||10:00||Q2 2016 Earnings Call||Q2 2016|
|Federal Realty Investment Trust||FRT||11:00||Q2 2016 Earnings Call||Q2 2016|
|CenterPoint Energy Inc||CNP||11:00||Q2 2016 Earnings Call||Q2 2016|
|Mohawk Industries Inc||MHK||11:00||Q2 2016 Earnings Call||Q2 2016|
|Baker Hughes Inc||BHI||July 2016 Sales and Revenue Release – Rig Counts||2016|
|Berkshire Hathaway Inc||BRK/A||Q2 2016 Earnings Release||Q2 2016||2910.79|
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