Thu Feb 20 2014
Live Index (1359 articles)

Live Index – Thu, 20 Feb 2014 Premarket


March E-mini S&Ps (ESH14 -0.31%) this morning are down -0.11% and European stocks are down -0.80% on signs of weaker global economic growth after reports showed manufacturing in China and in the Eurozone slowed. Asian stocks closed mostly lower: Japan -2.15%, Hong Kong -1.19%, China -0.92%, Taiwan -0.61%, Australia +0.08%, Singapore -0.07%, South Korea -0.78%, India -0.90%. Commodity prices are mostly lower on Chinese demand concerns after a gauge of Chinese manufacturing activity fell to a 7-month low. Mar crude oil (CLH14 -0.35%) is down -0.10%. Mar gasoline (RBH14 -1.26%) is down -1.03%. Apr gold (GCJ14 -0.58%) is down -0.51%. March copper (HGH14 -0.62%) is down -0.58%. Agriculture and livestock prices are lower. The dollar index (DXY00 +0.18%) is up +0.20%. EUR/USD (^EURUSD) is down -0.24%. USD/JPY (^USDJPY) is down -0.32%. The PBOC drained cash from the financial system for the second time this week after China’s overnight repurchase rate fell to a 10-month low. March T-note prices (ZNH14 +0.04%) are up +1.5 ticks.

The China Feb HSBC/Markit flash manufacturing PMI unexpectedly fell -1.2 to 48.3, weaker than expectations of unch at 49.5 and the slowest pace of expansion in 7-months.

The Eurozone Feb PMI composite unexpectedly fell -0.2 to 52.7, weaker than expectations of +0.2 to 53.1.

The German Feb PMI manufacturing fell -1.8 to 54.7, a bigger decline than expectations of -0.2 to 56.3. The Feb PMI services rose +2.3 to 55.4, a bigger increase than expectations of +0.3 to 53.4.

German Jan PPI fell -0.1% m/m and -1.1% y/y, bigger declines than expectations of +0.2% m/m and -0.8% y/y.

UK Feb CBI trends total orders rose to 3 from -2 in Jan, a smaller increase than expectations of 6. The Feb CBI trends selling prices fell to 17 from 20 in Jan, right on expectations.

The Japan Jan trade balance widened to a record deficit of -2.790 trillion yen, a bigger shortfall than expectations of -2.487 trillion yen. Jan exports rose +9.5% y/y, weaker than expectations of +12.7% y/y and Jan imports rose +25.0% y/y, higher than expectations of +22.7% y/y.


Today’s weekly initial unemployment claims report is expected to show a decline of -4,000 to 335,000, reversing half of last week’s increase of +8,000 to 339,000. Meanwhile, continuing claims are expected to show an increase of +17,000 to 2.970 million, reversing most of last week’s decline of -18,000 to 2.953 million. Today’s Jan CPI is expected to edge higher to +1.6% y/y from +1.5% in December. However, the Jan core CPI is expected to edge lower to +1.6% y/y from +1.7% in December. Today’s Feb Philadelphia Fed manufacturing index is expected to show a -1.4 point decline to 8.0, reversing about half of the +3.0 point increase to 9.4 seen in January. Today’s Jan leading indicators index is expected to show a solid increase of +0.4% after the small increase of +0.1% seen in December.

There are 18 of the S&P 500 companies that report earnings today. Notable reports include Wal-Mart (consensus 1.59), HP (0.84), (8.30), Nordstrom (1.34), Direct TV ($ 1.29), Hormel Foods (0.57), Intuit (0.02), Express Scripts (1.12), Newmont Mining (0.44), and Public Storage (2.02). Equity conferences during the remainder of this week include Consumer Analyst Group of New York Conference on Tue-Fri, and Barclays Industrial Select Conference on Wed-Thu.



Wal-Mart (WMT -0.64%) reported Q4 EPS of $ 1.60, better than consensus of $ 1.59.

Hormel Foods (HRL +0.35%) reported Q1 EPS of 57 cents, right on consensus.

Apple (AAPL -1.58%) fell over 1% in pre-market trading after research firm Canalys said Apple’s smartphone market share in China fell to 7% in Q4 from 9% a year earlier.

DirecTV (DTV -0.16%) reported Q4 EPS of $ 1.53, stronger than consensus of $ 1.29.

Vectren (VVC -0.62%) reported Q4 EPS of 60 cents, better than consensus of 58 cents.

Facebook (FB +1.13%) fell over 3% in after-hours trading after it said it will acquire WhatsApp for $ 16 billion.

Curtiss-Wright (CW -2.53%) raised guidance on its 2014 EPS outlook to $ 3.30-$ 3.40 from $ 3.20-$ 3.35, higher than consensus $ 3.33.

Acadia Healthcare (ACHC -3.60%) lowered guidance on fiscal 2014 EPS to $ 1.26-$ 1.29, below consensus of $ 1.41.

Safeway (SWY +1.50%) rose over 3% in after-hours trading after it reported Q4 EPS ex-items of 53 cents, higher than consensus of 48 cents.

Jack in the Box (JACK +1.46%) reported Q1 EPS of 75 cents, stronger than consensus of 66 cents.

Avis Budget (CAR +2.77%) reported Q4 EPS of 15 cents, higher than consensus of 12 cents.

ARRIS (ARRS -1.79%) reported Q4 adjusted EPS of 54 cents, well above consensus of 45 cents.

Tesla (TSLA -4.94%) rose 10% in after-hours trading after he reported Q4 EPS of 33 cents, better than consensus of 21 cents.


Mar E-mini S&Ps (ESH14 -0.31%) this morning are down -2.00 points (-0.11%). The S&P 500 on Wednesday retreated from a 1-month high and closed lower on bearish factors that included (1) U.S. Jan housing starts that fell -16.0% to 880,000, a much bigger decline than expectations of -4.9% to 950,000, (2) Jan building permits that fell -5.4% to 937,000, a bigger drop than expectations of -1.6% to 975,000, (3) the warning from the IMF that the global recovery is still weak and “significant downside risks remain,” and (4) the Jan 28-29 FOMC meeting minutes that indicate the Fed will continue with its monthly tapering of QE. Closes: S&P 500 -0.65%, Dow Jones -0.56%, Nasdaq 100 -0.72%.

Mar 10-year T-notes (ZNH14 +0.04%) this morning are up +1.5 ticks. Mar 10-year T-note futures prices on Wednesday climbed to a 2-week high on concern the economy is continuing to slow after U.S. Jan housing starts and Jan building permits both fell more than expected. T-note prices erased their advance and closed lower, however, after the Jan 28-29 FOMC meeting minutes suggested the Fed will continue to taper its monthly bond purchases. Closes: TYH4 -7.00, FVH4 -5.25.

The dollar index (DXY00 +0.18%) this morning is up +0.161 (+0.20%). EUR/USD (^EURUSD) is down -0.0033 (-0.24%). USD/JPY (^USDJPY) is down -0.33 (-0.32%). The dollar index on Wednesday rebounded from a 1-1/2 month low and closed higher after the minutes of the Jan 28-29 FOMC meeting signaled the Fed will continue to taper QE. Closes: Dollar index +0.136 (+0.17%), EUR/USD -0.00257 (-0.19%), USD/JPY -0.047 (-0.05%).

Mar WTI crude oil (CLH14 -0.35%) this morning is down -10 cents (-0.10%) and Mar gasoline (RBH14 -1.26%) is down -0.0292 (-1.03%). Mar crude and gasoline prices Wednesday settled Mixed. Mar crude posted a 4-1/4 month high on bullish factors that included (1) expectations for the EIA to report Thu that crude supplies at Cushing, OK, the delivery point for WTI futures, fell for the third consecutive week as flows increased through the southern portion of the Keystone XL pipeline from Cushing to the Gulf Coast, and (2) NWS forecasts for below-normal temperatures to return to the U.S. Midwest and Northeast next week, which should boost distillate demand for heating fuels. Gasoline erased an early rally and closed lower after the dollar recovered from a 1-1/2 month low and settled higher. Closes: CLH4 +0.88 (+0.86%), RBH4 -0.0076 (-0.27%).

US0830 ETWeekly initial unemployment claims expected -4,000 to 335,000, previous +8,000 to 339,000. Weekly continuing claims expected +17,000 to 2.970 million, previous -18,000 to 2.953 million.
0830 ETJan CPI expected +0.1% m/m and +1.6% y/y, Dec +0.3% m/m and +1.5% y/y. Jan CPI ex food & energy expected +0.1% m/m and +1.6% y/y, Dec +0.1% m/m and +1.7% y/y.
1000 ETFeb Philadelphia Fed manufacturing index expected -1.4 to 8.0, Jan +3.0 to 9.4.
1000 ETJan leading indicators expected +0.4%, Dec +0.1%.
1100 ETEIA Weekly Petroleum Status Report.
1100 ETTreasury announces amounts of 2-year T-notes (previous $ 32 billion), 2-year floating rate notes (previous $ 15 billion), 5-year T-notes (previous $ 35 billion) and 7-year T-notes (previous $ 29 billion) to be auctioned Feb 25-27.
1300 ETTreasury auctions $ 9 billion of 30-year TIPS.
GER0200 ETGerman Jan PPI expected +0.2% m/m and -0.8% y/y, Dec +0.1% m/m and -0.5% y/y.
0330 ETGerman Feb PMI manufacturing expected -0.2 to 56.3, Jan 56.5. Feb PMI services expected +0.3 to 53.4, Jan 53.1.
EUR0400 ETEurozone Feb PMI composite expected +0.2 to 53.1, Jan 52.9.
1000 ETEurozone Feb consumer confidence expected +0.7 to -11.0, Jan -11.7.
UK0600 ETUK Feb CBI trends total orders expected 6, Jan -2. Feb CBI trends selling prices expected 17, Jan 20.
Company NameTickerTimeEvent DescriptionPeriodEstimate
DIRECTVDTV USBef-mktQ4 2013 Earnings ReleaseQ4 20131.294
Quanta Services IncPWR USBef-mktQ4 2013 Earnings ReleaseQ4 20130.432
SCANA CorpSCG USBef-mktQ4 2013 Earnings ReleaseQ4 20130.78
Denbury Resources IncDNR USBef-mktQ4 2013 Earnings ReleaseQ4 20130.303
Actavis plcACT USBef-mktQ4 2013 Earnings ReleaseQ4 20133.05
Hormel Foods CorpHRL USBef-mktQ1 2014 Earnings ReleaseQ1 20140.57
Patterson Cos IncPDCO USBef-mktQ3 2014 Earnings ReleaseQ3 20140.57
Wal-Mart Stores IncWMT US7:00Q4 2014 Earnings ReleaseQ4 20141.588
Wal-Mart Stores IncWMT US7:00Q4 2014 Earnings CallQ4 2014
Public Service Enterprise Group IncPEG US7:30Q4 2013 Earnings ReleaseQ4 20130.449
Actavis plcACT US8:30Q4 2013 Earnings CallQ4 2013
Hormel Foods CorpHRL US9:00Q1 2014 Earnings CallQ1 2014
Quanta Services IncPWR US9:30Q4 2013 Earnings CallQ4 2013
Williams Cos Inc/TheWMB US9:30Q4 2013 Earnings CallQ4 2013
Intuit IncINTU USAft-mktQ2 2014 Earnings ReleaseQ2 20140.016
Cabot Oil & Gas CorpCOG USAft-mktQ4 2013 Earnings ReleaseQ4 20130.174
Mohawk Industries IncMHK USAft-mktQ4 2013 Earnings ReleaseQ4 20131.745
Express Scripts Holding CoESRX USAft-mktQ4 2013 Earnings ReleaseQ4 20131.119
Nordstrom IncJWN USAft-mktQ4 2014 Earnings ReleaseQ4 20141.338
Hewlett-Packard CoHPQ USAft-mktQ1 2014 Earnings ReleaseQ1 20140.844 IncPCLN USAft-mktQ4 2013 Earnings ReleaseQ4 20138.295
Newmont Mining CorpNEM USAft-mktQ4 2013 Earnings ReleaseQ4 20130.44
Public StoragePSA USAft-mktQ4 2013 Earnings ReleaseQ4 20132.023
American Electric Power Co IncAEP USRoadshow – Japan – Day 4Y 2014

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