US : Pre Market News – 02 Feb 2017

PREMARKET WORLD NEWS

Mar E-mini S&Ps (ESH17 -0.25%) are down -0.25% and European stocks are down -0.12%. The BOE, as expected, kept its benchmark rate unchanged at 0.25% and maintained its asset purchase target at 435 billion pounds following today’s policy meeting. European bank stocks are weaker, led by a 5% drop in Deutsche Bank, after it reported quarterly revenue that missed consensus. Asian stocks settled mostly lower: Japan -1.22%, Hong Kong -0.57%, China closed for holiday, Taiwan -0.20%, Australia -0.14%, Singapore -0.76%, South Korea -0.40%, India +0.30%. Japan’s Nikkei Stock Index fell to a 1-week low as weakness in USD/JPY undercut exporter stocks. Mar WTI crude (CLH17 +0.37%) is up +0.56% at a 3-week high on heightened geopolitical tensions after the U.S. said it’s putting Iran “on notice” for testing ballistic missiles. Apr COMEX gold (GCJ17 +1.25%) is up +1.29% at a 3-week high as the dollar index tumbled to a 2-1/2 month low.

The dollar index (DXY00 -0.23%) is down -0.35% at a 2-1/2 month low after the Fed failed to provide forward guidance on future interest rate increases following Wednesday’s FOMC meeting. EUR/USD (^EURUSD) is up +0.33% at a 1-3/4 month high on speculation the ECB may have to taper QE after Eurozone PPI rose more than expected. USD/JPY (^USDJPY) is down -0.74%.

Mar 10-year T-note prices (ZNH17 +0.09%) are up +3 ticks.

Eurozone Dec PPI rose +0.7% m/m and +1.6% y/y, stronger than expectations of +0.5% m/m and +1.2% y/y with the +1.6% y/y gain the largest year-on-year increase in nearly 4 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jan Challenger job cuts (Dec +42.2% y/y), (2) weekly initial unemployment claims (expected -9,000 to 250,000, previous +22,000 to 259,000) and continuing claims (expected -37,000 to 2.063 million, previous +41,000 to 2.100 million), (3) Q4 non-farm productivity (expected +1.0%, Q3 +3.1%) and Q4 unit labor costs (expected +1.9%, Q3 +0.7%), (4) USDA weekly Export Sales.

Notable S&P 500 earnings reports today include: Amazon (consensus $ 1.36), Visa (0.78), Motorola Solutions (1.86), Chipotle (0.56), Amgen (2.79), Merck (0.89), Intl Paper (0.72), CME Group (1.09), ConocoPhillips (0.41).

U.S. IPO’s scheduled to price today: Kimbell Royalty Partners (KRP), IC Power Pte Ltd (ICP), Ramaco Resources (METC).

Equity conferences: none.

PREMARKET U.S. STOCKS

Facebook (FB +2.23%) is up over 1% in pre-market trading after it reported Q4 adjusted EPS of $ 1.41, higher than consensus of $ 1.31.

Symantec (SYMC -1.09%) dropped over 2% in after-hours trading after it said it sees Q4 non-GAAP revenue between $ 1.07 billion-$ 1.09 billion, below consensus of $ 1.10 billion.

Tractor Supply (TSCO -1.76%) rallied over 3% in after-hours trading after it reported Q4 EPS of 94 cents. stronger than consensus of 92 cents.

Shutterfly (SFLY +0.86%) sank 15% in after-hours trading after it reported Q4 EPS of $ 263, weaker than consensus of $ 2.82, and said it sees Q1 revenue of $ 185 million-$ 190 million, below consensus of $ 199.2 million.

Qorvo (QRVO +0.53%) slid 7% in after-hours trading after it said it sees Q4 adjusted revenue of $ 610 million-$ 650 million, below consensus of $ 718.1 million.

Cadence Design Systems (CDNS -0.81%) rose over 2% in after-hours trading after it said it sees Q1 revenue of $ 470 million-$ 480 million, above consensus of $ 462.2 million.

MetLife (MET -0.17%) lost 1% in after-hours trading after it reported Q4 operating EPS of $ 1.28, weaker than consensus of $ 1.35.

Lannett (LCI +2.73%) climbed 4% in after-hours trading after it reported Q2 adjusted EPS of 92 cents, better than consensus of 85 cents.

Cavium (CAVM +0.47%) rose 2% in after-hours trading after it reported Q4 adjusted EPS of 56 cents, higher than consensus of 54 cents.

Hologic (HOLX +0.79%) lost 1% in after-hours trading after it said it sees fiscal 2017 adjusted EPS of $ 1.90-$ 1.94, below consensus of $ 1.94.

Axcelis Technologies (ACLS +2.96%) gained almost 4% in after-hours trading after it reported Q4 WPS of 13 cents, better than consensus of 10 cents, and then said it sees Q1 EPS of 20 cents-24 cents, above consensus of 18 cents.

CACI International (CACI +0.37%) rallied 5% in after-hours trading after it reported Q2 adjusted EPS of $ 2.30, well above consensus of $ 1.46.

Legg Mason ({=LM =}) dropped over 4% in after-hours trading after it reported Q3 EPS of cents, weaker than consensus of 64 cents.

Brooks Automation (BRKS +1.55%) rose over 3% in after-hours trading after it reported Q1 adjusted EPS of 25 cents, better than consensus of 20 cents.

Manitowoc (MTW +0.44%) fell 5% in after-hours trading after it reported Q4 net sales of $ 378.2 million, below consensus of $ 390.2 million.

Electro Scientific Industries (ESIO unch) surged 14% in after-hours trading after it reported Q3 revenue of $ 33.8 million, better than expectations of $ 30 million.

Civeo Corp. (CVEO +1.69%) tumbled 11% in after-hours trading after it announced a public offering of 20 million shares of common stock.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 -0.25%) this morning are down -5.75 points (-0.25%). Wednesday’s closes: S&P 500 +0.03%, Dow Jones +0.14%, Nasdaq +0.70%. The S&P 500 on Wednesday closed slightly higher on the U.S. Jan ADP employment report of +246,000 (stronger than expectations of +168,000 and the largest increase in 7 months) and on the +1.5 point increase in the U.S. Jan ISM manufacturing PMI to 56.0 (stronger than expectations of +0.5 to 55.0 and the fastest pace of expansion in 2 years). The tech sector saw strength led by a 6% rally in Apple, after it reported stronger-than-expected quarterly earnings results.

Mar 10-year T-notes (ZNH17 +0.09%) this morning are up +3 ticks. Wednesday’s closes: TYH7 -4.50, FVH7 -2.50. Mar 10-year T-notes on Wednesday closed lower on the stronger than expected Jan ADP employment report of +246,000 (the fastest pace in 7 months) and the Jan ISM manufacturing report that expanded at its fastest pace in 2 years (+1.5 to 56.0).

The dollar index (DXY00 -0.23%) this morning is down -0.353 (-0.35%) at a 2-1/2 month low. EUR/USD (^EURUSD) is up +0.0035 (+0.33%) at a 1-3/4 month high. USD/JPY (^USDJPY) is down -0.84 (-0.74%). Wednesday’s closes: Dollar index +0.129 (+0.13%), EUR/USD -0.0029 (-0.27%), USD/JPY +0.45 (+0.40%). The dollar index on Wednesday closed higher on signs of strength in the U.S. economy after the Jan ISM manufacturing index expanded at the fastest pace in 2 years and the U.S. Jan ADP employment report showed a strong increase of +246,000.

Mar WTI crude oil prices (CLH17 +0.37%) this morning are up +30 cents (0.56%) at a 3-week high and Mar gasoline (RBH17 -0.20%) is +0.0013 (+0.08%). Wednesday’s closes: Mar crude +1.07 (+2.03%), Mar gasoline +0.0290 (+1.87%). Mar crude oil and gasoline on Wednesday closed higher on the stronger-than-expected Jan ISM manufacturing index and ADP reports and on the -1.25 million bbl decline in crude supplies at Cushing, delivery point of WTI futures. On the bearish side, EIA crude inventories rose +6.47 million bbl versus expectations of +3.0 million bbl.

GLOBAL EVENT CALENDAR 02/02/2017
Thursday, Feb 2
US0730 ETJan Challenger job cuts, Dec +42.2% y/y.
0830 ETWeekly initial unemployment claims expected -9,000 to 250,000, previous +22,000 to 259,000. Weekly continuing claims expected -37,000 to 2.063 million, previous +41,000 to 2.100 million.
0830 ETQ4 non-farm productivity expected +1.0%, Q3 +3.1%. Q4 unit labor costs expected +1.9%, Q3 +0.7%.
0830 ETUSDA weekly Export Sales.
Friday, Feb 3
US0830 ETJan non-farm payrolls expected +175,000, Dec +156,000. Jan private payrolls expected +170,000, Dec +144,000. Jan manufacturing payrolls expected +4,000, Dec +17,000. Jan unemployment rate expected unch at 4.7%, Dec +0.1 to 4.7%.
0830 ETJan avg hourly earnings expected +0.3% m/m and +2.8% y/y, Dec +0.4% m/m and +2.9% y/y. Jan avg weekly hours all-employees expected unch at 34.3 hours, Dec unch at 34.3 hours.
0915 ETChicago Fed President Charles Evans (voter) speaks on economic conditions and monetary policy at a Prairie State College Economic Breakfast in Olympia Fields, IL.
0945 ETRevised Jan Markit services PMI, prelim-Jan +1.2 to 55.1.
1000 ETJan ISM non-manufacturing PMI expected +0.4 to 57.0, Dec +0.4 to 56.6.
1000 ETDec factory orders expected +0.7%, Nov -2.4% and +0.1% ex-transportation.
U.S. STOCK CALENDAR 02/02/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Ball CorpBLL USBf-mktQ4 2016 Earnings ReleaseQ4 20160.84
Eaton Corp PLCETN USBf-mktQ4 2016 Earnings ReleaseQ4 20161.101
EQT CorpEQT USBf-mktQ4 2016 Earnings ReleaseQ4 2016-0.049
ConocoPhillipsCOP USBf-mktQ4 2016 Earnings ReleaseQ4 2016-0.403
Ryder System IncR USBf-mktQ4 2016 Earnings ReleaseQ4 20161.409
Snap-on IncSNA USBf-mktQ4 2016 Earnings ReleaseQ4 20162.416
Xcel Energy IncXEL USBf-mktQ4 2016 Earnings ReleaseQ4 20160.437
Delphi Automotive PLCDLPH USBf-mktQ4 2016 Earnings ReleaseQ4 20161.594
Becton Dickinson and CoBDX US6:00Q1 2017 Earnings ReleaseQ1 20172.117
Boston Scientific CorpBSX US6:30Q4 2016 Earnings ReleaseQ4 20160.286
Cigna CorpCI US6:30Q4 2016 Earnings ReleaseQ4 20161.735
Harris CorpHRS US6:30Q2 2017 Earnings ReleaseQ2 20171.374
Merck & Co IncMRK US6:45Q4 2016 Earnings ReleaseQ4 20160.887
Estee Lauder Cos Inc/TheEL US6:45Q2 2017 Earnings ReleaseQ2 20171.172
Xylem Inc/NYXYL US6:55Q4 2016 Earnings ReleaseQ4 20160.647
International Paper CoIP US6:58Q4 2016 Earnings ReleaseQ4 20160.715
Marsh & McLennan Cos IncMMC US7:00Q4 2016 Earnings ReleaseQ4 20160.836
IDEXX Laboratories IncIDXX US7:00Q4 2016 Earnings ReleaseQ4 20160.509
CME Group IncCME US7:00Q4 2016 Earnings ReleaseQ4 20161.094
Philip Morris International IncPM US7:00Q4 2016 Earnings ReleaseQ4 20161.102
CMS Energy CorpCMS US7:30Q4 2016 Earnings ReleaseQ4 20160.289
L Brands IncLB US7:30January 2017 Sales and Revenue Call2017
Parker-Hannifin CorpPH US7:30Q2 2017 Earnings ReleaseQ2 20171.388
Becton Dickinson and CoBDX US8:00Q1 2017 Earnings CallQ1 2017
Boston Scientific CorpBSX US8:00Q4 2016 Earnings CallQ4 2016
Merck & Co IncMRK US8:00Q4 2016 Earnings CallQ4 2016
Ralph Lauren CorpRL US8:00Q3 2017 Earnings ReleaseQ3 20171.636
MetLife IncMET US8:00Q4 2016 Earnings CallQ4 2016
Cigna CorpCI US8:30Q4 2016 Earnings CallQ4 2016
Harris CorpHRS US8:30Q2 2017 Earnings CallQ2 2017
Marsh & McLennan Cos IncMMC US8:30Q4 2016 Earnings CallQ4 2016
IDEXX Laboratories IncIDXX US8:30Q4 2016 Earnings CallQ4 2016
CME Group IncCME US8:30Q4 2016 Earnings CallQ4 2016
CMS Energy CorpCMS US9:00Q4 2016 Earnings CallQ4 2016
Unum GroupUNM US9:00Q4 2016 Earnings CallQ4 2016
Allstate Corp/TheALL US9:00Q4 2016 Earnings CallQ4 2016
Ralph Lauren CorpRL US9:00Q3 2017 Earnings CallQ3 2017
Philip Morris International IncPM US9:00Q4 2016 Earnings CallQ4 2016
Ameriprise Financial IncAMP US9:00Q4 2016 Earnings CallQ4 2016
Xylem Inc/NYXYL US9:00Q4 2016 Earnings CallQ4 2016
Delphi Automotive PLCDLPH US9:00Q4 2016 Earnings CallQ4 2016
Estee Lauder Cos Inc/TheEL US9:30Q2 2017 Earnings CallQ2 2017
QIAGEN NVQGEN US9:30Q4 2016 Earnings CallQ4 2016
Eaton Corp PLCETN US10:00Q4 2016 Earnings CallQ4 2016
International Paper CoIP US10:00Q4 2016 Earnings CallQ4 2016
Lincoln National CorpLNC US10:00Q4 2016 Earnings CallQ4 2016
Snap-on IncSNA US10:00Q4 2016 Earnings CallQ4 2016
Mid-America Apt CommunitiesMAA US10:00Q4 2016 Earnings CallQ4 2016
Xcel Energy IncXEL US10:00Q4 2016 Earnings CallQ4 2016
EQT CorpEQT US10:30Q4 2016 Earnings CallQ4 2016
Ball CorpBLL US11:00Q4 2016 Earnings CallQ4 2016
Micron Technology IncMU US11:00Analyst ConferenceY 2017
Parker-Hannifin CorpPH US11:00Q2 2017 Earnings CallQ2 2017
Ryder System IncR US11:00Q4 2016 Earnings CallQ4 2016
Torchmark CorpTMK US11:00Q4 2016 Earnings CallQ4 2016
Ferrari NVRACE US11:00Q4 2016 Earnings CallQ4 2016
Charles Schwab Corp/TheSCHW US11:30Investor and Analyst MeetingY 2017
ConocoPhillipsCOP US12:00Q4 2016 Earnings CallQ4 2016
Southern Copper CorpSCCO US12:00Q4 2016 Earnings CallQ4 2016
Rockwell Collins IncCOL US12:00Annual General MeetingY 2017
AvalonBay Communities IncAVB US13:00Q4 2016 Earnings CallQ4 2016
Amgen IncAMGN US16:00Q4 2016 Earnings ReleaseQ4 20162.79
Kimco Realty CorpKIM US16:01Q4 2016 Earnings ReleaseQ4 20160.38
Amazon.com IncAMZN US16:01Q4 2016 Earnings ReleaseQ4 20161.36
Visa IncV US16:05Q1 2017 Earnings ReleaseQ1 20170.783
Chipotle Mexican Grill IncCMG US16:10Q4 2016 Earnings ReleaseQ4 20160.559
PerkinElmer IncPKI US16:15Q4 2016 Earnings ReleaseQ4 20160.858
Chipotle Mexican Grill IncCMG US16:30Q4 2016 Earnings CallQ4 2016
Hanesbrands IncHBI US16:30Q4 2016 Earnings CallQ4 2016
PerkinElmer IncPKI US17:00Q4 2016 Earnings CallQ4 2016
Motorola Solutions IncMSI US17:00Q4 2016 Earnings CallQ4 2016
Amgen IncAMGN US17:00Q4 2016 Earnings CallQ4 2016
Mettler-Toledo International IncMTD US17:00Q4 2016 Earnings CallQ4 2016
Visa IncV US17:00Q1 2017 Earnings CallQ1 2017
Motorola Solutions IncMSI USAft-mktQ4 2016 Earnings ReleaseQ4 20161.855
Essex Property Trust IncESS USAft-mktQ4 2016 Earnings ReleaseQ4 20162.812
Apartment InvestmentAIV USAft-mktQ4 2016 Earnings ReleaseQ4 20160.599
Hartford Financial ServicesHIG USAft-mktQ4 2016 Earnings ReleaseQ4 20160.934
Mettler-Toledo International IncMTD USAft-mktQ4 2016 Earnings ReleaseQ4 20165.118
Hanesbrands IncHBI USAft-mktQ4 2016 Earnings ReleaseQ4 20160.576
Amazon.com IncAMZN US17:30Q4 2016 Earnings CallQ4 2016
L Brands IncLB USJanuary 2017 Sales and Revenue Release2017
Mallinckrodt PLCMNK USQ1 2017 Earnings ReleaseQ1 20171.798
Ferrari NVRACE USQ4 2016 Earnings ReleaseQ4 20160.537

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