Thu Nov 06 2014
Live Index (1447 articles)

Live Index – Thu, 06 Nov 2014 Premarket

PREMARKET WORLD NEWS

December E-mini S&Ps (ESZ14 -0.22%) this morning are down -0.12% and European stocks are up +0.02% ahead of the results of today’s ECB meeting and press conference from ECB President Draghi shortly after. A smaller-than-expected increase in German Sep factory orders is limiting gains in European stock prices. As expected, the BOE kept its benchmark interest rate at 0.50% and maintained its 375 billion pound asset purchase target following the conclusion of its 2-day policy meeting. The Russian ruble weakened to a record 45.59 per dollar after the U.S. and Germany warned Russia of further sanctions as fighting intensified in rebel-held areas in east Ukraine and threatened to unravel a 2-month-old truce. Asian stocks closed mixed: Japan -0.86%, Hong Kong -0.20%, China +0.10%, Taiwan -0.80%, Australia -0.21%, Singapore +0.10%, South Korea +0.54%, India closed for holiday. Commodity prices are mostly lower. Dec crude oil (CLZ14 -0.18%) is down -0.27%. Dec gasoline (RBZ14 +0.12%) is up +0.13%. Dec gold (GCZ14 -0.10%) is down -0.07%. Dec copper (HGZ14 -0.25%) is down -0.17%. Agriculture prices are weaker. The dollar index (DXY00 -0.21%) is down -0.19%. EUR/USD (^EURUSD) is up +0.23%. USD/JPY (^USDJPY) is up +0.02% at a 7-year high. Dec T-note prices (ZNZ14 +0.07%) are up +2 ticks.

German Sep factory orders rose +0.8% m/m, less than expectations of +2.3% m/m. On an annual basis Sep factory orders fell -1.0% y/y, right on expectations.

UK Sep industrial production rose +0.6% m/m, stronger than expectations of +0.4% m/m and the most in 7 months. On an annual basis Sep industrial production rose +1.5% y/y, less than expectations of +1.6% y/y.

UK Sep manufacturing production rose +0.4% m/m and +2.9% y/y, stronger than expectations of +0.3% m/m and +2.8% y/y.

UK Oct Halifax house prices unexpectedly fell -0.4% m/m, weaker than expectations of +0.4% m/m. Halifax house prices rose +8.8% in the 3-months through Oct y/y, less than expectations of +9.1% 3-monhts y/y.

The Japan Sep leading index CI rose +1.2 to 105.6, slightly better than expectations of +1.1 to 105.5 and the highest in 5 months. The Sep coincident index rose +1.4 to 109.7, less than expectations of +1.5 to 109.8.

U.S. STOCK PREVIEW

Today’s weekly initial unemployment claims report is expected to show a small -2,000 decline to 285,000 following last week’s small +3,000 increase to 287,000.  Today’s Q3 non-farm productivity report is expected to ease to +1.5% from +2.3% in Q2.  There are 20 of the S&P 500 companies that report earnings today with notable reports including:  Walt Disney (consensus $ 0.88), Molson Coors (1.48), Apache (1.38), NVIDIA (0.35), Monster Beverage (0.67), First Solar (0.64), Transocean (0.81).  Equity conferences this week include:  Raymond James Global Airline Transportation Conference on Thu, BancAnalysts Association of Boston Conference on Thu-Fri.

PREMARKET U.S. STOCKS

Perrigo PLC (PRGO -0.84%) reported Q1 EPS of $ 1.40, below consensus of $ 1.45.

Sunoco Logistics (SXL -0.70%) reported Q3 EPS of 50 cents, well above consensus of 36 cents.

CenturyLink (CTL +0.05%) reported Q3 adjusted EPS of 63 cents, above consensus of 62 cents.

News Corp. (NWSA +0.99%) reported Q1 adjusted EPS of 9 cents, three times above consensus of 3 cents.

CF Industries (CF +0.46%) slid over 5% in after-hours trading after it reported Q3 adjusted EPS of $ 2.62, well below consensus of $ 3.47.

Tutor Perini (TPC +0.72%) reported Q3 EPS of 73 cents, stronger than consensus of 69 cents

DryShips (DRYS +5.80%) gained over 6% in after-hours trading after it reported Q3 EPS ex-items of 7 cents, better than consensus of 5 cents.

Maiden Holdings (MHLD +1.99%) reported Q3 EPS of 38 cents, above consensus of 37 cents.

EnerSys (ENS +0.69%) reported Q2 adjusted EPS of $ 1.06, higher than consensus of $ 1.01.

Willis Group (WSH +1.42%) was upgraded to ‘Hold’ from ‘Sell’ at Deutsche Bank.

Tesla (TSLA -3.33%) rose over 5% in after-hours trading after it reported Q3 adjusted EPS of 2 cents, much better than consensus of a -1 cent loss.

Hologic (HOLX -2.14%) reported Q4 EPS ex-benefit of 38 cents, better than consensus of 37 cents.

Roundy’s (RNDY +3.77%) reported a Q3 EPS loss of -7 cents, right on consensus, although Q3 revenue of $ 973.8 million was more than consensus of $ 965.6 million.

Symantec (SYMC +0.76%) reported Q2 EPS of 48 cents, above consensus of 43 cents.

Whole Foods (WFM +0.48%) jumped over 7% in after-hours trading after it reported Q4 EPS of 35 cents, higher than consensus of 32 cents.

Qualcomm (QCOM +0.12%) fell over 6% in after-hours trading after it reported Q4 EPS of $ 1.26, less than consensus of $ 1.31, and then lowered guidance on fiscal 2015 EPS to $ 5.05-$ 5.35, weaker than consensus of $ 5.58.

CBS (CBS +0.98%) was up over 2% in after-hours trading after it reported Q3 adjusted EPS of 74 cents, better than consensus of 73 cents.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 -0.22%) this morning are down -2.50 points (-0.12%). The S&P 500 index on Wednesday closed higher: S&P 500 +0.57%, Dow Jones +0.58%, Nasdaq -0.07%. Bullish factors included (1) speculation that the win by Republicans in the midterm elections to their first majority in the Senate in 8 years will boost economic growth as Republicans push ahead with their pro-business policies, (2) the +230,00 increase in the Sep ADP employment report, more than expectations of +220,000 and the most in 4 months, and (3) a stellar earnings season as 81% of reporting S&P 500 companies beat estimates, the most in 4 years.

Dec 10-year T-notes (ZNZ14 +0.07%) this morning are up +2 ticks. Dec 10-year T-note futures prices on Wednesday closed little changed: TYZ4 unch, FVZ4 +0.50. Negative factors included (1) the larger-than-expected increase in the Sep ADP employment report, which may prompt the Fed to raise interest rates sooner than expected, and (2) the rally in stocks which reduced the safe-haven demand for T-notes. T-notes recovered from losses after the Oct ISM non-manufacturing index fell more than expected.

The dollar index (DXY00 -0.21%) this morning is down -0.165 (-0.19%). EUR/USD (^EURUSD) is up +0.0029 (+0.23%). USD/JPY (^USDJPY) is up +0.02 (+0.02%). The dollar index on Wednesday climbed to a new 4-1/3 year high and closed higher. Closes: Dollar index +0.460 (+0.53%), EUR/USD -0.00605 (-0.48%), USD/JPY +1.044 (+0.92%). Bullish factors included (1) the larger-than-expected increase in the Sep ADP employment change, which bolsters the case for the Fed to raise interest rates next year, and (2) the rally in USD/JPY to a 6-3/4 year high after BOJ Governor Kuroda said there is “no limit for additional easing, including on bond purchases.”

Dec WTI crude oil (CLZ14 -0.18%) this morning is down -21 cents (-0.27%) and Dec gasoline (RBZ14 +0.12%) is up +0.0028 (+0.13%). Dec crude and Dec gasoline on Wednesday closed higher despite the rally in the dollar index to a 4-1/3 year high. Closes: CLZ4 +1.49 (+1.93%), RBZ4 +0.0210 (+1.01%). Supportive factors included (1) the +460,000 bbl increase in weekly EIA crude inventories, less than expectations of +2.0 million bbl, and (2) the -1.38 million bbl decline in EIA gasoline stockpiles to a 23-month low of 201.76 million bbl, a larger draw than expectations of -500,000 bbl.

GLOBAL EVENT CALENDAR11/06/2014
US0730 ETOct Challenger job cuts, Sep -24.4% y/y.
0830 ETWeekly initial unemployment claims expected -2,000 to 285,000, previous +3,000 to 287,000. Weekly continuing claims expected -19,000 to 2.365 million, previous +29,000 to 2.384 million.
0830 ETQ3 non-farm productivity expected +1.5%, Q2 +2.3%. Q3 unit labor costs expected +0.5%, Q2 -0.1%.
0830 ETUSDA weekly Export Sales.
1040 ETChicago Fed President Charles Evans delivers opening remarks at the Chicago Fed banking conference.
1330 ETFed Governor Jerome Powell speaks on central clearing of over-the-counter derivatives at the Chicago Fed banking conference.
1905 ETCleveland Fed President Loretta Mester speaks to the Money Marketeers of NYU on Federal Reserve Communications and Forward Guidance.
JPN0000 ETJapan Sep leading index CI expected 105.5, Aug 104.4. Sep coincident index expected 109.8, Aug 108.3.
GER0200 ETGerman Sep factory orders expected +2.3% m/m and -1.0% y/y, Aug -5.7% m/m and -1.3% y/y.
UK0430 ETUK Sep industrial production expected +0.4% m/m and +1.6% y/y, Aug unch m/m and +2.5% y/y.
0430 ETUK Sep manufacturing production expected +0.3% m/m and +2.8% y/y, Aug +0.1% m/m and +3.9% y/y.
0700 ETBOE announces interest rate decision and asset purchase target expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.
EUR0745 ETECB announces interest rate decision.
0830 ETECB President Mario Draghi holds monthly press conference following ECB policy meeting.
U.S. STOCK CALENDAR11/06/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Scripps Networks Interactive IncSNI USBef-mktQ3 2014 Earnings ReleaseQ3 20140.844
Hospira IncHSP USBef-mktQ3 2014 Earnings ReleaseQ3 20140.538
Cablevision Systems CorpCVC USBef-mktQ3 2014 Earnings ReleaseQ3 20140.185
Teradata CorpTDC USBef-mktQ3 2014 Earnings ReleaseQ3 20140.664
AES Corp/VAAES USBef-mktQ3 2014 Earnings ReleaseQ3 20140.343
Molson Coors Brewing CoTAP USBef-mktQ3 2014 Earnings ReleaseQ3 20141.481
Windstream Holdings IncWIN USBef-mktQ3 2014 Earnings ReleaseQ3 20140.043
Ameren CorpAEE USBef-mktQ3 2014 Earnings ReleaseQ3 20141.214
DIRECTVDTV US7:30Q3 2014 Earnings ReleaseQ3 20141.3
L Brands IncLB US7:30October 2014 Sales and Revenue Call2014
Apache CorpAPA US8:00Q3 2014 Earnings ReleaseQ3 20141.384
Genworth Financial IncGNW US8:00Q3 2014 Earnings CallQ3 2014
Perrigo Co PLCPRGO US8:00Q1 2015 Earnings ReleaseQ1 20151.446
Teradata CorpTDC US8:30Q3 2014 Earnings CallQ3 2014
Windstream Holdings IncWIN US8:30Q3 2014 Earnings CallQ3 2014
Hospira IncHSP US9:00Q3 2014 Earnings CallQ3 2014
AES Corp/VAAES US9:00Q3 2014 Earnings CallQ3 2014
QEP Resources IncQEP US9:00Q3 2014 Earnings CallQ3 2014
Scripps Networks Interactive IncSNI US10:00Q3 2014 Earnings CallQ3 2014
Cablevision Systems CorpCVC US10:00Q3 2014 Earnings CallQ3 2014
CF Industries Holdings IncCF US10:00Q3 2014 Earnings CallQ3 2014
Ameren CorpAEE US10:00Q3 2014 Earnings CallQ3 2014
Perrigo Co PLCPRGO US10:00Q1 2015 Earnings CallQ1 2015
Molson Coors Brewing CoTAP US11:00Q3 2014 Earnings CallC3 2014
Prudential Financial IncPRU US11:00Q3 2014 Earnings CallQ3 2014
Lam Research CorpLRCX US12:30Annual General MeetingY 2014
Molson Coors Brewing CoTAP US13:00Q3 2014 Earnings Call – Follow-up SessionQ3 2014
Eastman Chemical CoEMN US13:00Investor DayY 2014
DIRECTVDTV US14:00Q3 2014 Earnings CallQ3 2014
Apache CorpAPA US14:00Q3 2014 Earnings CallQ3 2014
Computer Sciences CorpCSC US16:15Q2 2015 Earnings ReleaseQ2 20151.013
Walt Disney Co/TheDIS US16:15Q4 2014 Earnings ReleaseQ4 20140.883
NVIDIA CorpNVDA US16:20Q3 2015 Earnings ReleaseQ3 20150.354
First Solar IncFSLR US16:30Q3 2014 Earnings CallQ3 2014
NVIDIA CorpNVDA US17:00Q3 2015 Earnings CallQ3 2015
DaVita HealthCare Partners IncDVA US17:00Q3 2014 Earnings CallQ3 2014
Monster Beverage CorpMNST US17:00Q3 2014 Earnings CallQ3 2014
Computer Sciences CorpCSC US17:00Q2 2015 Earnings CallQ2 2015
Walt Disney Co/TheDIS US17:00Q4 2014 Earnings CallQ4 2014
Northeast UtilitiesNU USAft-mktQ3 2014 Earnings ReleaseQ3 20140.747
DaVita HealthCare Partners IncDVA USAft-mktQ3 2014 Earnings ReleaseQ3 20140.895
Monster Beverage CorpMNST USAft-mktQ3 2014 Earnings ReleaseQ3 20140.666
Consolidated Edison IncED USAft-mktQ3 2014 Earnings ReleaseQ3 20141.446
First Solar IncFSLR USAft-mktQ3 2014 Earnings ReleaseQ3 20140.636
Transocean LtdRIG USAft-mktQ3 2014 Earnings ReleaseQ3 20140.81
Coach IncCOH USAnnual General Meeting
Gap Inc/TheGPS USOctober 2014 Sales and Revenue Release2014
Costco Wholesale CorpCOST USOctober 2014 Sales and Revenue Release2014
Johnson & JohnsonJNJ USPDUFA, Olysio, combo with Sovaldi in hepatitis C genotype 1
L Brands IncLB USOctober 2014 Sales and Revenue Release2014
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