US : Pre Market News – 17 Feb 2017

Fri Feb 17 2017
Nikki Bailey (1364 articles)

PREMARKET WORLD NEWS

Mar E-mini S&Ps (ESH17 -0.21%) are down -0.21% and European stocks are down -0.42% as increased French election risks fuel long liquidation is stocks. Apr COMEX gold (GCJ17 +0.14%) is up +0.13% at a 1-week high and government bond prices are higher on increased safe-haven demand as the 10-year German bund yield slid to a 1-week low of 0.299% after French Socialist Party presidential candidate Harmon said he has already talked with far-left candidate Melenchon to discuss a single candidacy. Based on the latest polls, a merger between these two candidates may increase the chance of the likelihood of Le Pen versus Melenchon/Harmon in second round elections. The monthly Ipsos poll shows that show National Front candidate Le Pen ahead with 26% compared with 14.5% for Harmon and only 12% for Melenchon. Weakness in crude oil prices has also weakened energy producing stocks with Mar WTI crude oil (CLH17 -0.43%) down -0.43%. Asian stocks settled mostly lower: Japan -0.58%, Hong Kong -0.31%, China -0.85%, Taiwan -0.12%, Australia -0.18%, Singapore +0.35%, South Korea -0.03%, India +0.59%. A slide in Japanese exporters led the Nikkei Stock Index down to a 1-week low as the stronger yen reduced earnings prospects after USD/JPY dropped to a 1-week low.

The dollar index (DXY00 +0.17%) is up +0.27%. EUR/USD (^EURUSD) is down -0.25%. USD/JPY (^USDJPY) is down -0.31% at a 1-week low.

Mar 10-year T-note prices (ZNH17 +0.21%) are up +7.5 ticks.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jan leading indicators (expected +0.5%, Dec +0.5%).

Notable S&P 500 earnings reports today include: Deere (consensus $ 0.55), Moody’s (1.14), Fluor (0.81), Spectra Energy (0.31), VF Corp (0.97), JM Smucker (2.01), Campbell Soup (0.88), Leucadida National (0.23), DENTSPLY STRONA (0.65).

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

Equity conferences: none.

 

PREMARKET U.S. STOCKS

Avis Budget Group (CAR -12.05%) was dowmgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse with a target price of $ 38.

DaVita (DVA -0.29%) gained almost 2% in after-hours trading after it reported Q4 adjusted EPS of 98 cents, higher than consensus of 90 cents

Arista Networks (ANET -0.50%) rallied 9% in after-hours trading after it reported Q4 adjusted EPS of $ 1.04, better than consensus of 82 cents, and said it sees Q1 revenue of $ 320 million-$ 330 million, above consensus of $ 304.2 million.

Nu Skin Enterprises (NUS +0.25%) slumped 7% in after-hours trading after it reported Q4 EPS of 69 cents, below consensus of 80 cents, and said it sees Q1 EPS of 47 cents-51 cents, weaker than consensus of 55 cents.

Brookdale Senior Living (BKD +0.98%) gained 1% in after-hours trading after Dow Jones reported that Ventas was in talks to buy all or part of the company.

WebMD Health (WBMD +0.39%) rose nearly 3% in after-hours trading after it reported Q4 EPS of 73 cents, better than consensus of 67 cents, and said it is exploring strategic alternatives for the company.

Trade Desk (TTD +5.34%) gained over 2% in after-hours trading after it reported Q4 adjusted EPS of 33 cents, above consensus of 22 cents, and said it sees 2017 revenue of $ 270 million, higher than consensus of $ 247.1 million.

Lennox International (LII +5.27%) fell 3% in after-hours trading after it cancelled out of the Barclays conference in Miami next week, citing back surgery to the CFO.

Cohu (COHU +2.02%) jumped 9% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, well above consensus of 9 cents.

Impinj (PI -3.10%) dropped 7% in after-hours trading after it said it sees a Q1 adjusted profit of 1 cent to a loss of -6 cents, weaker than consensus for a profit of 2 cents.

Cognex (CGNX +0.70%) rallied over 4% in after-hours trading after it reported Q4 EPS continuing operations of 43 cents, better than consensus of 29 cents.

Allscripts Healthcare Solutions (MDRX -0.08%) lost 2% in after-hours trading after it reported Q4 adjusted EPS of 14 cents, below consensus of 15 cents.

TrueCar (TRUE -0.67%) surged 13% in after-hours trading after it said it sees 2017 revenue of $ 315 million-$ 320 million, higher than consensus of $ 308.6 million.

Airgain (AIRG -4.78%) climbed over 6% in after-hours trading after it reported Q4 EPS of 12 cents, better than consensus of 10 cents.

Flowserve (FLS -0.76%) slid 4% in after-hours trading after it said it sees 2017 adjusted EPS of $ 1.55-$ 1.85, weaker than consensus of $ 2.13.

TimkenSteel (TMST +1.49%) rose 6% in after-hours trading after it said it sees improving sentiment across all markets and expects Q1 shipments to be up +40% q/q.

Cytokinetics (CYTK -1.31%) jumped over 8% in after-hours trading after it reported Q4 revenue of $ 33.1 million, double expectations of $ 16.3 million.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 -0.21%) this morning are down -5.00 points (-0.21%). Thursday’s closes: S&P 500 -0.09%, Dow Jones +0.04%, Nasdaq -0.03%. The S&P 500 on Thursday closed lower on a continued lack of details from the Trump administration about its tax and fiscal plans, which fueled long liquidation in stocks, and on the jump in the VIX volatility index to a 2-week high, which also boosted long liquidation in equities. Bullish factors included the +4.6% increase in U.S. Jan building permits to 1.285 million (stronger than expectations of +0.2% to 1.23 million and the highest in 14 months) and the unexpected +19.7-point jump in the Feb Philadelphia Fed business outlook survey to 43.3 (stronger than expectations of -5.6 to 18.0 and the highest in 33 years).

Mar 10-year T-notes (ZNH17 +0.21%) this morning are up +7.5 ticks. Thursday’s closes: TYH7 +15.50, FVH7 +9.50. Mar 10-year T-notes on Thursday closed higher on some short-covering after T-note prices failed to break below their 1-3/4 month long consolidation range and on inceased safe-haven demand with the slide in stock prices.

The dollar index (DXY00 +0.17%) this morning is up +0.27 (+0.27%). EUR/USD (^EURUSD) is down -0.0027 (-0.25%). USD/JPY (^USDJPY) is down -0.35 (-0.31%) at a 1-week low. Thursday’s closes: Dollar index -0.74 (-0.73%), EUR/USD +0.0073 (+0.69%), USD/JPY -0.92 (-0.81%). The dollar index on Thursday closed lower on a lack of specifics from the Trump administration on its tax or fiscal policies, which spurred long liquidation in the dollar, and safe-haven demand for the yen with the weakness in stocks.

Mar WTI crude oil prices (CLH17 -0.43%) this morning are down -23 cents (-0.43%) and Mar gasoline (RBH17 -1.82%) is down -0.0271 (-1,78%) at a 1-week low. Thursday’s closes: Mar crude +0.25 (+0.47%), Mar gasoline -0.0232 (-1.50%). Mar crude oil and gasoline on Thursday settled mixed with Mar gasoline at a 1-week low. Crude oil prices were undercut by negative carry-over from Wednesday’s EIA data that showed excesssive U.S. fuel supplies after EIA crude inventories rose +9.527 million bbl to a record 518.1 million bbl and EIA gasoline supplies rose +2.846 million bbl to a record 259 million bbl.

GLOBAL EVENT CALENDAR 02/17/2017
Friday, Feb 17
US1000 ETJan leading indicators expected +0.5%, Dec +0.5%.
Tuesday, Feb 21
US0850 ETMinneapolis Fed President Neel Kashkari (voter) participates in a discussion about the economy and the role of the Federal Reserve at a meeting of the Financial Planning Association of Minnesota in Golden Valley, MN.
0945 ETFeb Markit manufacturing PMI expected -0.4 to 54.6, Jan +0.7 to 55.0. Feb Markit services PMI expected -0.1 to 55.5, Jan +1.7 to 55.6.
1100 ETUSDA weekly grain export inspections.
1200 ETPhiladelphia Fed President Patrick Harker (voter) speaks on the economic outlook at the Wharton School of the University of Pennsylvania.
1300 ETTreasury auctions 2-year T-notes.
U.S. STOCK CALENDAR 02/17/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Deere & CoDE USBf-mktQ1 2017 Earnings ReleaseQ1 20170.541
DENTSPLY SIRONA IncXRAY USBf-mktQ4 2016 Earnings ReleaseQ4 20160.65
Moody’s CorpMCO USBf-mktQ4 2016 Earnings ReleaseQ4 20161.151
Fluor CorpFLR USBf-mktQ4 2016 Earnings ReleaseQ4 20160.734
Spectra Energy CorpSE USBf-mktQ4 2016 Earnings ReleaseQ4 20160.306
VF CorpVFC US6:55Q4 2016 Earnings ReleaseQ4 20160.968
JM Smucker Co/TheSJM US7:00Q3 2017 Earnings ReleaseQ3 20172.006
Campbell Soup CoCPB US7:15Q2 2017 Earnings ReleaseQ2 20170.879
JM Smucker Co/TheSJM US8:00Q3 2017 Earnings CallQ3 2017
Hasbro IncHAS US8:00Investor MeetingY 2017
VF CorpVFC US8:30Q4 2016 Earnings CallQ4 2016
Campbell Soup CoCPB US9:00Q2 2017 Earnings CallQ2 2017
Fluor CorpFLR US9:00Q4 2016 Earnings CallQ4 2016
DENTSPLY SIRONA IncXRAY US9:30Q4 2016 Earnings CallQ4 2016
Harman InternationalHAR USAnnual General Meeting – M&A VoteY 2017
Leucadia National CorpLUK USQ4 2016 Earnings ReleaseQ4 20160.23
Whole Foods Market IncWFM USAnnual General Meeting
Xcel Energy IncXEL USFixed Income MeetingY 2017
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