Wed May 07 2014
Live Index (1454 articles)

Live Index – Wed, 07 May 2014 Premarket


June E-mini S&Ps (ESM14 +0.21%)this morning are down -0.03% and European stocks are down -0.22% at a 2-week low after earnings results from Societe Generals Sa and Fiat SpA missed estimates and after German Mar factory orders unexpectedly fell. On the positive side, European sovereign debt concerns receded after the 10-year yields on Italy’s, Ireland’s and Spain’s government bonds fell to record lows. Asian stocks closed lower: Japan -2.93%, Hong Kong -1.05%, China -0.93%, Taiwan -0.22%, Australia -0.83%, Singapore -0.28%, South Korea -1.07%, India -0.82%. Japan’s Nikkei Stock Index fell to a 2-week low, led by a drop in exporters, after the yen rallied to a 3-week high, which undercuts the earnings prospects for exporters. Commodity prices are mixed. Jun crude oil (CLM14 +0.85%) is up +0.77%. Jun gasoline (RBM14 -0.18%) is down -0.20% at a 1-month low. Jun gold (GCM14 +0.15%) is up +0.21%. July copper (HGN14 -0.69%) is down -0.43%. Agriculture and livestock prices are mixed. The dollar index (DXY00 +0.04%) is up +0.03%. EUR/USD (^EURUSD) is up +0.01%. USD/JPY (^USDJPY) is down -0.13% at a 3-week low. June T-note prices (ZNM14 +0.03%) are up +4.5 ticks ahead of Fed Chair Yellen’s testimony to the Joint Economic Committee of Congress.

German Mar factory orders unexpectedly fell -2.8% m/m, weaker than expectations of +0.3% m/m and the largest monthly decline in 16 months. On an annual basis, Mar factory orders rose +1.5% y/y, less than expectations of +4.3% y/y.

The China Apr HSBC composite PMI rose +0.2 to 49.5, the third consecutive month of contraction.

The UK Apr BRC shop price index fell -1.45 y/y, a larger drop than expectations of -0.8% y/y and the twelfth consecutive monthly decline.

The Japan Apr Markit/JMMA composite PMI fell -6.5 to 46.3, the slowest pace in 2-3/4 years.


Today’s Q1 non-farm productivity report is expected to be down -1.2%, worsening substantially from +1.8% in Q4. The Treasury today will sell $ 24 billion of 10-year T-notes. The Treasury will then conclude this week’s $ 69 billion quarterly refunding operation by selling $ 16 billion of 30-year T-notes on Thursday. There are 22 of the S&P 500 companies that report earnings today. Notable reports include Humana (consensus 1.96), Duke Energy (1.12), Transocean (1.02), Prudential Financial (2.25), and Devon Energy (1.26).

Equity conferences during the remainder of this week include: Robert W. Baird & Co. Growth Stock Conference on Tue-Wed, Bank of America Merrill Lynch Global Transportation Conference on Wed-Thu, Wells Fargo Industrial & Construction Conference on Wed-Thu, Jefferies Global Technology, Media & Telecom Conference on Tue-Thu, and Deutsche Bank Healthcare Conference on Wed-Fri.



Humana (HUM -0.30%) reported Q1 EPS of $ 2.35, well above consensus of $ 1.96.

Duke Energy (DUK -0.61%) reported Q1 EPS of $ 1.17, better than consensus of $ 1.12.

Southwest Gas (SWX -1.29%) reported Q1 EPS of $ 1.51, well below consensus of $ 1.69.

Marathon Oil (MRO -0.71%) reported Q1 adjusted EPS of 88 cents, well ahead of consensus of 72 cents.

Trimble Navigation (TRMB -0.88%) reported Q1 EPS of 39 cents, weaker than consensus of 42 cents.

Microchip Technology (MCHP -0.88%) reported Q4 EPS of 64 cents, higher than consensus of 61 cents.

GNC Holdings (GNC -1.00%) reported Q1 EPS of 75 cents, less than consensus of 76 cents, and then lowered guidance on fiscal 2014 EPS to $ 3.05-$ 3.10, below consensus of $ 3.20.

Pioneer Natural (PXD -0.07%) reported Q1 adjusted EPS of $ 1.26, higher than consensus of $ 1.06.

Live Nation (LYV -2.06%) reported a Q1 EPS loss of -16 cents, a much narrower loss than consensus of -35 cents.

Disney (DIS -0.23%) reports Q2 EPS ex-items of $ 1.11, better than consensus of 96 cents.

Groupon (GRPN -2.47%) fell 4% in pre-market trading even after it reported a Q1 adjusted EPS loss of -1 cent, a smaller loss than consensus of -3 cents.

First Solar (FSLR -1.42%) rose over 4% in pre-market trading after it reported Q1 EPS $ 1.10, nearly double consensus of 56 cents.

Activision Blizzard (ATVI -0.57%) reported Q1 adjusted EPS of 19 cents, almost double consensus of 10 cents.

Allstate (ALL -0.96%) reported Q1 EPS of $ 1.30, higher than consensus of $ 1.19.

Electronic Arts (EA -2.47%) surged over 15% in after-hours trading after it reported Q4 EPS of 48 cents, over four times higher than consensus of 11 cents, and then raised guidance on fiscal 2015 EPS to $ 1.85, well above consensus of $ 1.52.

Whole Foods (WFM -0.68%) sank over 15% in after-hours trading after it reported Q2 EPS of 38 cents, below consensus of 41 cents, and then lowered guidance on fiscal 2014 EPS to $ 1.52 – $ 1.56 from $ 1.58 – $ 1.65, below consensus of $ 1.61.


June E-mini S&Ps (ESM14 +0.21%) this morning are down -0.50 of a point (-0.03%). The S&P 500 index on Tuesday closed lower: S&P 500 -0.90%, Dow Jones -0.78%, Nasdaq -1.35%. Negative factors included (1) the OECD’s cut in its global 2014 GDP forecast for the second time in 6 months to 3.4% from November’s 3.6%, (2) the -$ 40.4 billion U.S. Mar trade deficit, which was wider than expectations of -$ 40.0 billion and was negative for Q1 GDP, and (3) geopolitical risks as violence escalated in Ukraine.

Jun 10-year T-notes (ZNM14 +0.03%) this morning are up +4.5 ticks. Jun 10-year T-note futures prices on Tuesday settled higher: TYM4 +2.00, FVM4 -0.25. Bullish factors included (1) the slide in stocks which boosted the safe-haven demand for Treasuries, and (2) strong demand for the Treasury’s $ 29 billion 3-year T-note auction that had a 3.40 bid cover ratio, better than the 12-auction average of 3.29.

The dollar index (DXY00 +0.04%) this morning is up +0.025 (+0.03%). EUR/USD (^EURUSD) is up +0.0001 (+0.01%). USD/JPY (^USDJPY) is down -0.13 (-0.13%) at a 3-week low. The dollar index on Tuesday tumbled to a 6-1/4 month low and closed lower. Dollar index -0.393 (-0.49%), EUR/USD +0.0052 (+0.38%), USD/JPY -0.46 (-0.45%). Bearish factors for the dollar included (1) the OECD’s cut in its U.S. 2014 GDP estimate to 2.6% from a Nov estimate of 2.9%, and (2) a rally in EUR/USD to a 1-3/4 month high after Eurozone Mar retail sales unexpectedly rose and the OECD raised its Eurozone 2014 GDP forecast to 1.2% from a Nov estimate of 1.0%.

Jun WTI crude oil (CLM14 +0.85%) this morning is up +77 cents (+0.77%). Jun gasoline (RBM14 -0.18%) is down -0.0059 (-0.20%) at a 1-month low. Jun crude and gasoline prices on Tuesday settled mixed. Crude prices closed higher on (1) the slide in the dollar index to a 6-1/4 month low, and (2) expectations that weekly EIA inventory data on Wed will show crude supplies fell to a fresh 4-1/2 year low at Cushing, OK, the delivery point of WTI futures. Gains were limited after the OECD cut its global 2014 GDP forecast, a sign of weaker energy consumption. Closes: CLM4 +0.02 (+0.02%). RBM4 -0.0234 (-0.80%).

US0700 ETWeekly MBA mortgage applications, previous -5.9% with purchase sub-index -4.4% and refi sub-index -6.9%.
0830 ETQ1 non-farm productivity expected -1.2%, Q4 +1.8%. Q1 unit labor costs expected +2.8%, Q4 -0.1%.
1000 ETFed Chair Janet Yellen testifies to the Joint Economic Committee of Congress on the economic outlook.
1030 ETEIA Weekly Petroleum Status Report.
1300 ETTreasury auctions $ 24 billion of 10-year T-notes.
1500 ETMar consumer credit expected $ 15.5 billion, Feb +$ 16.489 billion.
GER0200 ETGerman Mar factory orders expected +0.3% m/m and +4.3% y/y, Feb +0.6% m/m and +6.1% y/y.
UK1901 ETUK Apr RICS house price balance expected 55%, Mar 57%.
CHIn/aChina Apr trade balance expected +$ 18.20 billion, Mar +$ 7.71 billion. Apr exports expected -2.0% y/y, Mar 6.6% y/y. Apr imports expected -2.0% y/y, Mar -11.3% y/y.
Company NameTickerTimeEvent DescriptionPeriodEstimate
Allergan Inc/United StatesAGN USBef-mktQ1 2014 Earnings ReleaseQ1 20141.125
Spectra Energy CorpSE USBef-mktQ1 2014 Earnings ReleaseQ1 20140.513
Pepco Holdings IncPOM USBef-mktQ1 2014 Earnings ReleaseQ1 20140.239
Molson Coors Brewing CoTAP USBef-mktQ1 2014 Earnings ReleaseQ1 20140.35
Cognizant Technology Solutions CorpCTSH US6:00Q1 2014 Earnings ReleaseQ1 20140.594
Humana IncHUM US6:00Q1 2014 Earnings ReleaseQ1 20141.958
Mondelez International IncMDLZ US7:00Q1 2014 Earnings ReleaseQ1 20140.345
Duke Energy CorpDUK US7:00Q1 2014 Earnings ReleaseQ1 20141.123
Chesapeake Energy CorpCHK US7:01Q1 2014 Earnings ReleaseQ1 20140.482
Devon Energy CorpDVN US8:00Q1 2014 Earnings ReleaseQ1 20141.261
Cognizant Technology Solutions CorpCTSH US8:00Q1 2014 Earnings CallQ1 2014
Perrigo Co PLCPRGO US8:00Q3 2014 Earnings ReleaseQ3 20141.512
PepsiCo IncPEP US9:00Annual General MeetingY 2014
Philip Morris International IncPM US9:00Annual General MeetingY 2014
Spectra Energy CorpSE US9:00Q1 2014 Earnings CallQ1 2014
Chesapeake Energy CorpCHK US9:00Q1 2014 Earnings CallQ1 2014
Marathon Oil CorpMRO US9:00Q1 2014 Earnings CallQ1 2014
Express Scripts Holding CoESRX US9:00Annual General MeetingY 2014
General Dynamics CorpGD US9:00Annual General Meeting
Expeditors International of Washington IncEXPD US9:00Q1 2014 Earnings ReleaseQ1 20140.415
Humana IncHUM US9:00Q1 2014 Earnings CallQ1 2014
Allstate Corp/TheALL US9:00Q1 2014 Earnings CallQ1 2014
Dominion Resources Inc/VAD US9:30Annual General MeetingY 2014
Vertex Pharmaceuticals IncVRTX US9:30Annual General Meeting
Bank of America CorpBAC US10:00Annual General MeetingY 2014
Pioneer Natural Resources CoPXD US10:00Q1 2014 Earnings CallQ1 2014
Mondelez International IncMDLZ US10:00Q1 2014 Earnings CallQ1 2014
CONSOL Energy IncCNX US10:00Annual General MeetingY 2014
Duke Energy CorpDUK US10:00Q1 2014 Earnings CallQ1 2014
Pepco Holdings IncPOM US10:00Q1 2014 Earnings CallQ1 2014
NASDAQ OMX Group Inc/TheNDAQ US10:00Annual General MeetingY 2014
Perrigo Co PLCPRGO US10:00Q3 2014 Earnings CallQ3 2014
Discover Financial ServicesDFS US10:00Annual General Meeting
Devon Energy CorpDVN US11:00Q1 2014 Earnings CallQ1 2014
Allergan Inc/United StatesAGN US11:00Q1 2014 Earnings CallQ1 2014
ONEOK IncOKE US11:00Q1 2014 Earnings CallQ1 2014
FMC CorpFMC US11:00Q1 2014 Earnings CallQ1 2014
Molson Coors Brewing CoTAP US11:00Q1 2014 Earnings CallC1 2014
SanDisk CorpSNDK US11:00Investor DayY 2014
CenturyLink IncCTL USAft-mktQ1 2014 Earnings ReleaseQ1 20140.609
Keurig Green Mountain IncGMCR USAft-mktQ2 2014 Earnings ReleaseQ2 20140.941
Transocean LtdRIG USAft-mktQ1 2014 Earnings ReleaseQ1 20141.017
CF Industries Holdings IncCF USAft-mktQ1 2014 Earnings ReleaseQ1 20144.524
QEP Resources IncQEP USAft-mktQ1 2014 Earnings ReleaseQ1 20140.238
Essex Property Trust IncESS USAft-mktQ1 2014 Earnings ReleaseQ1 20142.007
Prudential Financial IncPRU USAft-mktQ1 2014 Earnings ReleaseQ1 20142.254
Dun & Bradstreet Corp/TheDNB USAnnual General Meeting
Hospira IncHSP USAnnual General Meeting
PulteGroup IncPHM USAnnual General Meeting
CSX CorpCSX USAnnual General Meeting
Apple IncAAPL USSamsung vs. Apple Trial Arguments in Patent-Infringement Case
Windstream Holdings IncWIN USAnnual General Meeting
Phillips 66PSX USAnnual General Meeting
Leggett & Platt IncLEG USAnnual General Meeting
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