Fri May 09 2014
Live Index (1454 articles)

Live Index – Fri, 09 May 2014 Premarket


June E-mini S&Ps (ESM14 -0.20%) this morning are down -0.09% and European stocks are down -0.51% after German Mar exports unexpectedly fell by the most in 10 months, a sign of slower economic growth. Also, the smallest increase in 1-1/2 years in China Apr CPI bolsters concern that demand is weakening in China. On the positive side, Eurozone sovereign debt concerns continue to recede after Standard & Poor’s raised its outlook on Portugal’s government bond rating to stable from negative due to a faster-than-expected recovery in the economy and labor market. That helped narrow the difference in yield between Portugal’s 10-year bond and the equivalent in Germany’s 10-year bund yield to 199 bp, the lowest in 4 years. Meanwhile, Spain’s 10-year government bond yield fell to 2.85% and Italy’s 10-year yield fell to 2.89%, both record lows, on speculation the ECB will ease monetary policy further when it meets next month. Asian stocks closed mixed: Japan +0.25%, Hong Kong +0.12%, China -0.07%, Taiwan -0.46%, Australia -0.29%, Singapore +0.14%, South Korea +0.19%, India +2.91%. Commodity prices are mixed. Jun crude oil (CLM14 +0.29%) is up +0.43% at a 1-week high. Jun gasoline (RBM14 +0.58%) is up +0.66%. Jun gold (GCM14 +0.38%) is up +0.22%. July copper (HGN14 +0.51%) is up +0.51% after weekly Shanghai copper stockpiles fell -13,485 MT to 90,580 MT, the lowest in 2-1/2 years. Agriculture and livestock prices are mixed ahead of today’s May WASDE crop production report. The dollar index (DXY00 +0.40%) is up +0.28%. EUR/USD (^EURUSD) is down -0.30% at a 1-week low on speculation the ECB will boost its stimulus measures at its next policy meeting after ECB President Draghi on Thursday said that policy makers would be “comfortable” with taking action in June. USD/JPY (^USDJPY) is up +0.07%. June T-note prices (ZNM14 +0.02%) are down -1 tick.

China Apr CPI rose +1.8% y/y, less than expectations of +2.1% y/y and the slowest pace of increase in 1-1/2 years. China Apr PPI fell -2.0% y/y, a larger decrease than expectations of -1.9% y/y.

The German Mar trade balance widened to a +16.4 billion euro surplus from +16.2 billion euros in Feb, narrower than expectations of a +17.4 billion euro surplus. Mar exports unexpectedly fell -1.8% m/m, weaker than expectations of +1.3% m/m and the largest decrease in 10 months. Mar imports rose +0.9% m/m, better than expectations of +0.6% m/m.

UK Mar industrial production fell -0.1% m/m and rose +2.3% y/y, close to expectations of -0.2% m/m and +2.4% y/y. Mar manufacturing production increased +0.5% m/m and +3.3% y/y, better than expectations of +0.3% m/m and +2.9% y/y.

UK Mar construction output fell -1.0% m/m and rose +6,4% y/y, weaker than expectations of +0.6% m/m and +7.1% y/y.

The Japan Mar leading index CI fell -2.2 to 106.5, the lowest level in a year. The Mar coincident index rose +1.1 to 114.0, right on expectations.


Today’s March wholesale inventories report is expected to show an increase of +0.5%, matching the +0.5% increase seen in February. There are 2 of the S&P 500 companies that report earnings today: Ralph Lauren (consensus $ 1.63), Leucadia National Corp. There are no equity conferences today.



Roundy’s (RNDY -24.92%) was downgraded to ‘Neutral’ from ‘Buy’ at BofA/Merrill.

The Financial Times reports that Apple (AAPL -0.73%) is in talks to acquire Beats Electronics for $ 3.2 billion.

Twitter (TWTR +4.24%) was upgraded to ‘Neutral’ from ‘Underperform’ at BofA/Merrill.

Darling (DAR +0.30%) reported Q1 adjusted EPS of 15 cents, well below consensus of 28 cents.

CSC (CSC +0.03%) reported Q4 EPS ex-items of $ 1.09, higher than consensus of $ 1.04.

Kemper (KMPR -0.19%) reported Q1 EPS of 63 cents, weaker than consensus of 65 cents.

Triangle Capital (TCAP -4.66%) was upgraded to ‘Buy’ from ‘Neutral’ at Janney Capital.

The U.S. Food and Drug Administration approved Merck’s (MRK -1.81%) Zontivity drug to lower heart attack and stroke risk in high-risk patients.

Mettler-Toledo (MTD -0.32%) reported Q1 adjusted EPS of $ 2.00, better than consensus of $ 1.98.

Nuance (NUAN -1.71%) reported Q2 EPS of 28 cents, higher than consensus of 23 cents.

Monster Beverage (MNST +1.44%) reported Q1 EPS of 55 cents, above consensus of 49 cents.

News Corp. (NWSA +0.18%) reported Q3 adjusted EPS of 11 cents, over three times consensus of 3 cents.

Stifel Financial (SF -0.26%) reported Q1 EPS of 69 cents, better than consensus of 68 cents.

Gap (GPS +1.16%) jumped over 5% in after-hours trading after it reported Q1 revenue of $ 3.77 billion, higher than consensus of $ 3.69 billion, and then raisd guidance on Q1 EPS of 56 cents-57 cents, better than consensus of 53 cents.

CBS (CBS +2.40%) reported Q1 EPS of 78 cents, higher than consensus of 75 cents.

Symantec (SYMC -0.45%) rose over 2% in after-hours trading after it reported Q4 EPS of 47 cents, better than consensus of 42 cents, and then raised guidance on fiscal 2015 EPS to $ 1.84-$ 1.92, above consensus of $ 1.83.


June E-mini S&Ps (ESM14 -0.20%) this morning are down -1,75 points (-0.09%). The S&P 500 index on Thursday closed slightly lower as a late sell-off in high-multiple internet stocks pulled the overall market down: S&P 500 -0.14%, Dow Jones +0.20%, Nasdaq -0.17%. Stocks had rallied early in the day on bullish factors that included (1) the -26,000 decline in U.S. weekly initial unemployment claims, a bigger decline than expectations of -19,000 to 325,000, and (2) comments from Philadelphia Fed President Plosser who said he sees a “bounce back” in manufacturing and consumer spending with 3% growth in each of the 2nd, 3rd and 4th quarters.

Jun 10-year T-notes (ZNM14 +0.02%) this morning are down -1 tick. Jun 10-year T-note futures prices on Thursday posted a 2-month high and closed higher: TYM4 +7.50, FVM4 +5.00. The main bullish factor was carry-over support from Wednesday’s comments from Fed Chair Yellen who said a “high degree” of accommodation remains warranted. T-notes fell back from their best levels after the Treasury’s $ 16 billion 30-year T-bond auction had a bid-to-cover ratio of 2.09, below the 12-auction average of 2.39 and the lowest in 2-3/4 years, a sign of weak demand.

The dollar index (DXY00 +0.40%) this morning is up +0.219 (+0.28%). EUR/USD (^EURUSD) is down -0.0041 (-0.30%) at a 1-week low. USD/JPY (^USDJPY) is up +0.07 (+0.07%). The dollar index on Thursday fell to a 1-1/2 year low, but recovered and settled higher. Dollar index +0.159 (+0.20%), EUR/USD -0.0070 (-0.51%), USD/JPY -0.24 (-0.24%). Bullish factors included (1) comments from ECB President Draghi that knocked EUR/USD down from a 2-1/2 year high when he said that a stronger euro “in the context of low inflation is cause for serious concern,” and (2) the larger-than-expected drop in weekly U.S. jobless claims, a sign of economic strength.

Jun WTI crude oil (CLM14 +0.29%) this morning is up +43 cents (+0.43%) at a 1-week high. Jun gasoline (RBM14 +0.58%) is up +0.0193 (+0.66%). Jun crude and gasoline prices on Thursday closed lower. Bearish factors included (1) a recovery in the dollar after the dollar index rebounded from a 1-1/2 year low and closed higher, and (2) ample supplies with U.S. crude inventories just below highest level since weekly EIA data began in 1982 and monthly government data began in 1920. Closes: CLM4 -0.51 (-0.51%). RBM4 -0.0132 (-0.45%).

US1000 ETMar wholesale inventories expected +0.5%, Feb +0.5%. Mar wholesale trade sales expected +1.1%, Feb +0.7%.
1200 ETMay WASDE crop production report.
1200 ETDallas Fed President Richard Fisher speaks about the limitations of U.S. monetary policy to the Louisiana Bankers Association.
JPN0100 ETJapan Mar leading index CI expected -1.8 to 106.7, Feb 108.9. Mar coincident index expected +1.0 to 114.0, Feb 113.0.
GER0200 ETGerman Mar trade balance expected +17.4 billion euros, Feb +16.3 billion euros. Mar exports expected +1.3% m/m, Feb -1.3% m/m. Mar imports expected +0.6% m/m, Feb +0.4% m/m.
0200 ETGerman Mar current account balance expected +14.8 billion euros, Feb +13.9 billion euros.
UK0430 ETUK Mar industrial production expected -0.2% m/m and +2.4% y/y, Feb +0.9% m/m and +2.7% y/y.
0430 ETUK Mar manufacturing production expected +0.3% m/m and +2.9% y/y, Feb +1.0% m/m and +3.8% y/y.
0430 ETUK Mar construction output expected +0.6% m/m and +7.1% y/y, Feb -2.8% m/m and +2.8% y/y.
Company NameTickerTimeEvent DescriptionPeriodEstimate
Actavis plcACT US3:30Annual General MeetingY 2013
Ralph Lauren CorpRL US8:00Q4 2014 Earnings ReleaseQ4 20141.629
Omnicom Group IncOMC US8:30Business Update Call
Ralph Lauren CorpRL US9:00Q4 2014 Earnings CallQ4 2014
Newfield Exploration CoNFX US9:00Annual General MeetingY 2014
Baker Hughes IncBHI US9:40Analyst Conference – Day 2Y 2014
Colgate-Palmolive CoCL US10:00Annual General MeetingY 2014
Marriott International Inc/DEMAR US10:30Annual General MeetingY 2014
AbbVie IncABBV USAnnual General Meeting
Avago Technologies LtdAVGO USAnnual General Meeting
Vulcan Materials CoVMC USAnnual General MeetingY 2014
Sempra EnergySRE USAnnual General Meeting
Leucadia National CorpLUK USQ1 2014 Earnings ReleaseQ1 2014
Live Index

Live Index