Wed Nov 05 2014
Live Index (1454 articles)

Live Index – Wed, 05 Nov 2014 Premarket


December E-mini S&Ps (ESZ14 +0.50%) this morning are up +0.39% after the results of the mid-term elections showed Republicans won control of the U.S Senate in for the first time in 8 years, which is seen as business friendly. European stocks are up +1.48% as better-than-expected earnings results from Marks & Spencer Group Plc., UK’s biggest clothing retailer, and from Hannover Re, the world’s third-largest reinsurer by market value, boosted the overall market. The Russian ruble fell to a record low of 44.96 per dollar, but came off that low on signs that Russia’s central bank may allow the currency to trade freely after the Bank of Russia said it was abandoning its predictable intervention policy to hamper “speculative strategies” against the currency. The Bank of Russia said it will spend only $ 350 million once a day in intervention and said it won’t exclude additional interest rate increases in an attempt to shore up the ruble. Asian stocks closed mostly lower: Japan +0.44%, Hong Kong -0.63%, China -0.39%, Taiwan -0.30%, Australia -0.04%, Singapore +0.19%, South Korea -0.26%, India +0.20%. Commodity prices are mostly lower as the dollar strengthens. Dec crude oil (CLZ14 +0.04%) is down -0.05%. Dec gasoline (RBZ14 -0.51%) is down -0.38% at a 4-year low. Dec gold (GCZ14 -2.36%) is down -2.43% at a 4-1/2 year low. Dec copper (HGZ14 -1.21%) is down -1.49% at a 2-week low. Agriculture prices are weaker. The dollar index (DXY00 +0.61%) is up +0.62% at a 4-1/3 year high. EUR/USD (^EURUSD) is down -0.58%. USD/JPY (^USDJPY) is up +0.93% at a 6-3/4 year high as the yen fell after BOJ Governor Kuroda hinted the BOJ may further expand its stimulus measures when he said that he means business in ending what he calls a “deflationary mindset” in Japan and that there is “no limit for additional easing, including on bond purchases.” Dec T-note prices (ZNZ14 -0.10%) are down -4 ticks.

Eurozone Sep retail sales fell -1.3% m/m, a bigger decline than expectations of -0.8% m/m and the largest drop in 2-1/3 years. On an annual basis, Sep retail sales rose +0.6% y/y, less than expectations of +1.4% y/y.

The Eurozone Oct Markit composite PMI was revised lower to 52.1 from the originally reported 52.2.

The German Oct Markit services PMI was revised lower to 54.4 from the originally reported 54.8, the slowest pace of expansion in 7 months.

The UK Oct Markit/CIPS services PMI fell -2.5 to 56.2, a bigger decline than expectations of -0.2 to 58.5 and the slowest pace of expansion in 17 months.

The UK Oct BRC shop price index fell -1.9% y/y, a steeper decline than expectations of -1.7% y/y and matched July’s drop as the largest decrease since the data series began in 2006.

Japan Sep labor cash earnings rose +0.8% y/y, right on expectations, although Aug was revised lower to +0.9% y/y from the originally reported +1.4% y/y.


Today’s Oct ADP employment report is expected to show an increase of +220,000, strengthening a bit from the +213,000 rise seen in September. The market is expecting today’s Oct ISM non-manufacturing index to show a -0.6 point decline to 58.0, adding to the -1.0 point decline to 58.6 seen in September.

There are 23 of the S&P 500 companies that report earnings today with notable reports including: Time Warner (consensus $ 0.94), Duke Energy (1.52), News Corp (0.05), CBS Corp (0.73), Genworth Financial (0.21), Whole Foods (0.32), Prudential Financial (2.41), Symantec (0.43). Equity conferences this week include: Latin Markets Hedge Fund Americas Forum on Tue-Wed, Gabelli & Company Automotive Aftermarket Symposium on Tue, Raymond James Global Airline Transportation Conference on Thu, BancAnalysts Association of Boston Conference on Thu-Fri.


Time Warner (TWX -4.81%) reported Q3 EPS of $ 1.22, higher than consensus of 94 cents.

Covidien PLC (COV -0.42%) reported Q4 EPS of $ 1.15, better than consensus of $ 1.02.

EOG Resources (EOG -3.26%) rose over 5% in after-hours trading after it reported Q3 adjusted EPS of $ 1.31, higher than consensus of $ 1.30.

Papa John’s (PZZA +0.97%) reported Q3 EPS of 39 cents, above consensus of 37 cents.

Levin Capital Strategies reported a 5.0% passive stake in Great Western (GWB -0.86%) .

Cimarex Energy (XEC -3.81%) reported Q3 adjusted EPS of $ 1.53, better than consensus of $ 1.51.

KAR Auction (KAR -0.79%) reported Q3 adjusted EPS of 40 cents, higher than consensus of 31 cents.

Team Health (TMH +0.23%) reported Q3 adjusted EPS of 60 cents, better than consensus of 59 cents.

Activision Blizzard (ATVI -1.72%) climbed over 3% in after-hours trading after it reported Q3 EPS of 23 cents, well above consensus of 13 cents, and then raised guidance on fiscal 2014 EPS to $ 1.35 from $ 1.29, higher than consensus of $ 1.33.

Intel (INTC +0.67%) fell over 1% in after-hours trading after it was downgraded to ‘Underperform’ from ‘Market Perform’ at Bernstein.

Pioneer Natural (PXD -3.84%) reported Q3 adjusted EPS of $ 1.35, higher than consensus of $ 1.26.

21st Century Fox (FOXA -2.97%) reported Q1 EPS of 48 cents, well above consensus of 36 cents.

Itron (ITRI -2.15%) reported Q3 EPS of 39 cents, better than consensus of 36 cents.


Dec E-mini S&Ps (ESZ14 +0.50%) this morning are up +7.75 points (+0.39%). The S&P 500 index on Tuesday closed lower: S&P 500 -0.28%, Dow Jones +0.10%, Nasdaq -0.317%. Bearish factors included (1) carry-over selling from a slide in European stocks after the European Commission said the recovery in the Eurozone is “not only subdued but also fragile” as it cut its Eurozone 2014 GDP forecast to +0.8% from a May forecast of +1.2%, (2) the -$ 43.0 billion U.S. Sep trade deficit, wider than expectations of a -$ 40.2 billion deficit, which may lead to Q3 GDP being revised lower, and (3) a slide in energy producers after crude oil tumbled to a 3-year low.

Dec 10-year T-notes (ZNZ14 -0.10%) this morning are down -4 ticks. Dec 10-year T-note futures prices on Tuesday closed slightly higher: TYZ4 +0.50, FVZ4 unch. Bullish factors included (1) speculation that the fall in crude oil prices to a 3-year low will reduce inflation expectations, (2) increased safe-haven demand for T-notes after stocks fell, and (3) positive carry-over from a rally in German bunds to a 2-week high after the EU cut its 2014 and 2015 Eurozone GDP and inflation forecasts.

The dollar index (DXY00 +0.61%) this morning is up +0.537 (+0.62%) at a 4-1/3 year high. EUR/USD (^EURUSD) is down -0.0073 (-0.58%). USD/JPY (^USDJPY) is up +1.06 (+0.93%) at a 6-3/4 year high. The dollar index on Tuesday closed lower. Closes: Dollar index -0.325 (-0.37%), EUR/USD +0.00647 (+0.52%), USD/JPY -0.441 (-0.39%). Negative factors included (1) weakness in USD/JPY as the fall in stock prices boosted safe-haven demand for the yen, and (2) strength in EUR/USD after Eurozone Sep producer prices unexpectedly rose, which reduced deflation concerns and dampened speculation the ECB will boost stimulus.

Dec WTI crude oil (CLZ14 +0.04%) this morning is down -4 cents (-0.05%) and Dec gasoline (RBZ14 -0.51%) is down -0.0079 (-0.38%) at a new 4-year low. Dec crude and Dec gasoline on Tuesday sold off with Dec crude at a 3-year low and Dec gasoline at a 4-year low. Closes: CLZ4 -1.59 (-2.02%), RBZ4 -0.0396 (-1.87%). Bearish factors included (1) Saudi Arabia’s cut in the price of crude oil that it sells to the U.S. in an attempt to preserve its share of OPEC output, (2) the European Commission’s cut in its Eurozone 2014 and 2015 GDP estimates, a sign of weaker fuel demand, and (3) expectations for Wednesday’s weekly EIA crude inventories to increase by +1.8 million bbl.

US0700 ETWeekly MBA mortgage applications, previous -6.6% with purchase sub-index -5.0% and the refi sub-index 7.4%.
0815 ETOct ADP employment change expected +220,000, Sep +213,000.
0915 ETMinneapolis Fed President Narayana Kocherlakota delivers a speech titled Clarifying the Objectives of Monetary Policy at an event in Virginia, MN.
0900 ETTreasury announces amounts of 3-year T-notes (previous $ 27 billion), 10-year T-notes (previous $ 21 billion), and 30-year T-bonds (previous $ 13 billion) to be auctioned Nov 10-13 in the Treasurys quarterly refunding.
0930 ETRichmond Fed President Jeffrey Lacker speaks on Committing to Financial Stability at a conference on Financial Stability after Dodd Frank: Have We Ended Too Big to Fail?
0945 ETRevised-Oct Markit services PMI expected -0.2 to 57.1, prelim-Oct 57.3. Revised-Oct Markit composite PMI, prelim-Oct5 57.3.
1000 ETOct ISM non-manufacturing index expected -0.6 to 58.0, Sep -1.0 to 58.6.
1030 ETEIA Weekly Petroleum Status Report.
GER0355 ETRevised German Oct Markit services PMI, previous 54.8.
EUR0400 ETRevised Eurozone Oct composite PMI, previous 52.2.
0500 ETEurozone Sep retail sales expected -0.8% m/m and +1.5% y/y, Aug +1.2% m/m and +1.9% y/y.
UK0430 ETUK Oct Markit/CIPS services PMI expected -0.2 to 58.5, Sep 58.7.
Company NameTickerTimeEvent DescriptionPeriodEstimate
Time Warner IncTWX USBef-mktQ3 2014 Earnings ReleaseQ3 20140.941
Quanta Services IncPWR USBef-mktQ3 2014 Earnings ReleaseQ3 20140.58
Denbury Resources IncDNR USBef-mktQ3 2014 Earnings ReleaseQ3 20140.256
Spectra Energy CorpSE USBef-mktQ3 2014 Earnings ReleaseQ3 20140.269
Cognizant Technology Solutions CorpCTSH USBef-mktQ3 2014 Earnings ReleaseQ3 20140.633
Chesapeake Energy CorpCHK USBef-mktQ3 2014 Earnings ReleaseQ3 20140.326
NRG Energy IncNRG USBef-mktQ3 2014 Earnings ReleaseQ3 20140.492
Actavis plcACT USBef-mktQ3 2014 Earnings ReleaseQ3 20143.105
CenterPoint Energy IncCNP USBef-mktQ3 2014 Earnings ReleaseQ3 20140.304
Covidien PLCCOV US6:00Q4 2014 Earnings ReleaseQ4 20141.019
Duke Energy CorpDUK US7:00Q3 2014 Earnings ReleaseQ3 20141.523
Fastenal CoFAST US7:00October 2014 Sales and Revenue Release2014
Mondelez International IncMDLZ US8:00Q3 2014 Earnings ReleaseQ3 20140.392
Cognizant Technology Solutions CorpCTSH US8:00Q3 2014 Earnings CallQ3 2014
EOG Resources IncEOG US8:00Q3 2014 Earnings CallQ3 2014
Actavis plcACT US8:00Q3 2014 Earnings CallQ3 2014
Cardinal Health IncCAH US8:00Annual General MeetingY 2014
Covidien PLCCOV US8:30Q4 2014 Earnings CallQ4 2014
Spectra Energy CorpSE US9:00Q3 2014 Earnings CallQ3 2014
Quest Diagnostics IncDGX US9:00Investor DayY 2014
Starbucks CorpSBUX US9:00FY 2015 Guidance CallY 2015
Chesapeake Energy CorpCHK US9:00Q3 2014 Earnings CallQ3 2014
NRG Energy IncNRG US9:00Q3 2014 Earnings CallQ3 2014
Quanta Services IncPWR US9:30Q3 2014 Earnings CallQ3 2014
WellPoint IncWLP US10:00Extraordinary Shareholders MeetingY 2014
Pioneer Natural Resources CoPXD US10:00Q3 2014 Earnings CallQ3 2014
Mondelez International IncMDLZ US10:00Q3 2014 Earnings CallQ3 2014
Duke Energy CorpDUK US10:00Q3 2014 Earnings CallQ3 2014
Time Warner IncTWX US10:30Q3 2014 Earnings CallQ3 2014
Devon Energy CorpDVN US11:00Q3 2014 Earnings CallQ3 2014
ONEOK IncOKE US11:00Q3 2014 Earnings CallQ3 2014
Denbury Resources IncDNR US11:00Q3 2014 Earnings CallQ3 2014
Cimarex Energy CoXEC US11:00Q3 2014 Earnings CallQ3 2014
Varian Medical Systems IncVAR US11:30Investor MeetingY 2014
CareFusion CorpCFN US11:30Annual General MeetingY 2014
CenterPoint Energy IncCNP US11:30Q3 2014 Earnings CallQ3 2014
Oracle CorpORCL US13:00Annual General MeetingY 2014
Union Pacific CorpUNP US14:00Investor DayY 2014
KLA-Tencor CorpKLAC US15:00Annual General Meeting
QUALCOMM IncQCOM US16:00Q4 2014 Earnings ReleaseQ4 20141.315
News CorpNWSA US16:05Q1 2015 Earnings ReleaseQ1 20150.047
CBS CorpCBS US16:30Q3 2014 Earnings CallQ3 2014
QUALCOMM IncQCOM US16:45Q4 2014 Earnings CallQ4 2014
CenturyLink IncCTL US17:00Q3 2014 Earnings CallQ3 2014
Whole Foods Market IncWFM US17:00Q4 2014 Earnings CallQ4 2014
Symantec CorpSYMC US17:00Q2 2015 Earnings CallQ2 2015
CenturyLink IncCTL USAft-mktQ3 2014 Earnings ReleaseQ3 20140.617
CBS CorpCBS USAft-mktQ3 2014 Earnings ReleaseQ3 20140.725
CF Industries Holdings IncCF USAft-mktQ3 2014 Earnings ReleaseQ3 20143.477
Genworth Financial IncGNW USAft-mktQ3 2014 Earnings ReleaseQ3 20140.211
Whole Foods Market IncWFM USAft-mktQ4 2014 Earnings ReleaseQ4 20140.322
Integrys Energy Group IncTEG USAft-mktQ3 2014 Earnings ReleaseQ3 20140.4
QEP Resources IncQEP USAft-mktQ3 2014 Earnings ReleaseQ3 20140.248
Prudential Financial IncPRU USAft-mktQ3 2014 Earnings ReleaseQ3 20142.413
Symantec CorpSYMC USAft-mktQ2 2015 Earnings ReleaseQ2 20150.426
News CorpNWSA US17:30Q1 2015 Earnings CallQ1 2015
Stericycle IncSRCL USInvestor MeetingY 2014
Walgreen CoWAG USOctober 2014 Sales and Revenue Release2014
Western Digital CorpWDC USAnnual General Meeting
Costco Wholesale CorpCOST USOctober 2014 Sales and Revenue Release2014
Linear Technology CorpLLTC USAnnual General Meeting
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