Mar E-mini S&Ps (ESH17 -0.01%) are up +0.01 and European stocks are up +0.19% on improvement in company quarterly earnings results. Rio Tinto is up over 2% as it posted its first annual profit in 3 years. Rio Tinto also announced a $ 500 million share buyback after a recovery in iron ore prices helped boost its profits. Gains in stocks were muted after energy producing companies weakened as crude oil prices slide. Mar WTI crude oil (CLH17 -0.75%) is down -0.61% to a 3-week low and were undercut after the API reported late Tuesday that U.S. crude supplies last week surged +14.2 million bbl. Asian stocks settled mixed with China’s Shanghai Composite climbing to a 3-week high: Japan +0.51%, Hong Kong +0.66%, China +0.44%, Taiwan-0.12%, Australia +0.52%, Singapore -0.17%, South Korea -0.46%, India -0.16%.
The dollar index (DXY00 +0.25%) is up +0.32%. EUR/USD (^EURUSD) is down -0.32% at a 1-week low on looming political risks from the upcoming elections in France and Italy along with comments from Bundesbank President Weidmann who said the ECB is not yet at a point where it can end QE. USD/JPY (^USDJPY) is down -0.09%.
Mar 10-year T-note prices (ZNH17 +0.06%) are unchanged.
Bundesbank President Weidmann said that German inflation concerns are topical and that the ECB is not yet at a point where it can end expansionary policy. He added “as the Eurozone economy grows more dynamically in a sustained way, interest rates will rise again.”
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -3.2% with purchase sub-index -5.6% and refi sub-index -1.4%), (2) Treasury auctions $ 23 billion of 10-year T-notes, EIA Weekly Petroleum Status Report.
Notable S&P 500 earnings reports today include: Time Warner (consensus $ 1.19), Goodyear Tire & Rubber (0.87), Exelon (0.45), Humana (2.05), Whole Foods (0.39), Prudential Financial (2.31), Level 3 Communications (0.44).
U.S. IPO’s scheduled to price today: none.
Equity conferences: Credit Suisse Financial Services Forum on Tue-Wed, Cowen Aerospace/Defense & Industrials Conference on Wed-Thu.
Twitter (TWTR +1.84%) rose 3% in pre-market trading after it was upgraded to ‘Buy’ from ‘Neutral’ at BTIG LLC with a $ 25 price target.
Disney (DIS -0.52%) fell 1% in after-hours trading after it reported Q1 revenue of $ 14.8 billion, below consensus of $ 15.3 billion.
Cooper Tire & Rubber (CTB -3.61%) gained more than 3% in after-hours trading after it was named to replace ComScore in the S&P 400 Midcap index as of the close of trading Friday, Feb 10.
Akamai Technologies (AKAM +2.02%) dropped 3% in after-hours trading after it projected Q1 revenue of $ 596 million-$ 610 million, the midpoint below consensus of $ 604.8 million.
Buffalo Wild Wings (BWLD -0.89%) fell nearly 4% in after-hours trading after it forecast 2017 EPS of $ 5.60 to $ 6.00, well below consensus of $ 6.47.
Panera Bread (PNRA -0.56%) gained 2% in after-hours trading after it reported Q4 adjusted EPS of $ 2.05, better than consensus of $ 2.00.
Gilead Sciences (GILD +1.02%) slid 5% in after-hours trading after it said it expects 2017 sales of $ 22.5 billion to $ 24.5 billion, below consensus of $ 27.9 billion.
Coherent (COHR +2.46%) surged 14% in after-hours trading after it reported Q1 net sales of $ 346.1 million, well above consensus of $ 216.2 million.
DR Horton (DHI -0.24%) was rated a new ‘Buy at BTIG LLC with a 12-month target price of $ 38.
Lennar (LEN -0.34%) was rated a new ‘Buy’ at BTIG LLC with a 12-month target price of $ 56.
Urban Outfitters (URBN -0.76%) lost nearly 3% in after-hours trading after it reported Q4 net sales of $ 1.03 billion, below consensus of $ 1.04 billion.
Tucows (TCX -0.41%) slumped 13% in after-hours trading after it reported Q4 revenue of $ 48.8 million, below consensus of $ 50.4 million.
Pier1 Imports ({=PIR =}) rose almost 4% in after-hours trading after it reported comparable sales in the quarter to date through Jan were up +0.6%.
Coherus Biosciences (CHRS -1.11%) dropped 6% in after-hours trading after it announced a public offering of $ 125 million of common stock.
Jive Software (JIVE unch) jumped over 7% in after-hours trading after it said it sees Q1 adjusted EPS of 4 cents to 5 cents, above consensus of 3 cents.
Genworth Financial (GNW -0.57%) fell 5% in after-hours trading after it reported an unexpected -27 cent loss per share, weaker than consensus of 19 cents EPS.
Mar E-mini S&Ps (ESH17 -0.01%) this morning are up +0.25 of a point (+0.01%). Tuesday’s closes: S&P 500 +0.02%, Dow Jones +0.19%, Nasdaq +0.35%. The S&P 500 on Tuesday rallied to a 1-week high and closed higher on strength in technology stocks as the Nasdaq Composite rose to a record high and on reduced interest rate concerns after the 10-year T-note yield fell to a 3-week low. Stock prices were undercut by the U.S. Dec JOLTS job openings report of -4,000 (weaker than expectations of an increase of +56,000) and by pressure on energy producing stocks after crude oil prices fell -2.47%.
Mar 10-year T-notes (ZNH17 +0.06%) this morning are unch. Tuesday’s closes: TYH7 +5.50, FVH7 +1.25. Mar 10-year T-notes on Tuesday climbed to a 3-week high and closed higher on the unexpected decline in U.S. Dec JOLTS job openings (-4,000 versus expectations of +58,000) and on reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 2-1/2 week low.
The dollar index (DXY00 +0.25%) this morning is up +0.32 (+0.32%). EUR/USD (^EURUSD) is down -0.0034 (-0.32%) at a 1-week low. USD/JPY (^USDJPY) is down -0.10 (-0.09%). Tuesday’s closes: Dollar index +0.353 (+0.35%), EUR/USD -0.0067 (-0.62%), USD/JPY +0.65 (+0.58%). The dollar index on Tuesday rose to a 1-week high and closed higher on comments late Monday from Philadelphia Fed President Harker (voter) who said “I think March is on the table” for a rate hike. There was also weakness in EUR/USD which fell to a 1-week low after German Dec industrial production unexpectedly fell -3.0% m/m, the largest monthly decline in 7-3/4 years.
Mar WTI crude oil (CLH17 -0.75%) prices this morning are down -32 cents (-0.61%) at a 3-week low and Mar gasoline (RBH17 -0.40%) is -0.0006 (-0.04%) at a 2-1/4 month low. Tuesday’s closes: Mar crude -1.31 (-2.47%), Mar gasoline -0.0228 (-1.51%). Mar crude oil and gasoline on Tuesday closed lower with Mar gasoline at a 2-1/4 month low. Crude oil prices were undercut by the rally in the dollar index to a 2-1/4 month high, by expectations for Wednesday’s EIA crude inventories to climb +2.5 million bbl (their fifth straight increase), and by expectations for EIA gasoline stockpiles on Wednesday to increase by +1.5 million bbl.
Wednesday, Feb 8 | ||
US | 0700 ET | Weekly MBA mortgage applications, previous -3.2% with purchase sub-index -5.6% and refi sub-index -1.4%. |
1030 ET | EIA Weekly Petroleum Status Report. | |
1300 ET | Treasury auctions $ 23 billion of 10-year T-notes. | |
Thursday, Feb 9 | ||
US | 0830 ET | Weekly initial unemployment claims expected +3,000 to 249,000, previous -14,000 to 246,000. Weekly continuing claims expected -6,000 to 2.058 million, previous -39,000 to 2.064 million. |
0830 ET | USDA weekly Export Sales. | |
0910 ET | St. Louis Fed President James Bullard (non-voter) speaks on the U.S. economy and monetary policy at a finance forum at Washington University in St. Louis. | |
1000 ET | Revised Dec wholesale inventories expected unrevised from prelim-Dec +1.0%. Dec wholesale trade sales, Nov +0.4% m/m. | |
1200 ET | USDA Feb WASDE crop production. | |
1300 ET | Treasury auctions $ 15 billion of 30-year T-bonds. | |
1310 ET | Chicago Fed President Charles Evans (voter) speaks about current economic conditions and monetary policy at the CFA Society of Chicago. |
Company | Ticker | Time | Event Description | Period | Estimate |
---|---|---|---|---|---|
Church & Dwight Co Inc | CHD US | Bf-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.425 |
Emerson Electric Co | EMR US | Bf-mkt | Q1 2017 Earnings Release | Q1 2017 | 0.422 |
Omnicom Group Inc | OMC US | Bf-mkt | Q4 2016 Earnings Release | Q4 2016 | 1.438 |
Vulcan Materials Co | VMC US | Bf-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.851 |
Cardinal Health Inc | CAH US | Bf-mkt | Q2 2017 Earnings Release | Q2 2017 | 1.229 |
AMETEK Inc | AME US | Bf-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.582 |
Fidelity National Info Services | FIS US | Bf-mkt | Q4 2016 Earnings Release | Q4 2016 | 1.141 |
TransDigm Group Inc | TDG US | Bf-mkt | Q1 2017 Earnings Release | Q1 2017 | 2.507 |
Michael Kors Holdings Ltd | KORS US | Bf-mkt | Q3 2017 Earnings Release | Q3 2017 | 1.633 |
Mallinckrodt PLC | MNK US | Bf-mkt | C1 2017 Earnings Release | C1 2017 | 1.787 |
Centene Corp | CNC US | 6:00 | Q4 2016 Earnings Release | Q4 2016 | 1.108 |
National Oilwell Varco Inc | NOV US | 6:45 | Q4 2016 Earnings Release | Q4 2016 | -0.293 |
Archer-Daniels-Midland Co | ADM US | 7:00 | Q4 2016 Earnings Release | Q4 2016 | 0.781 |
Mosaic Co/The | MOS US | 7:00 | Q4 2016 Earnings Release | Q4 2016 | 0.129 |
S&P Global Inc | SPGI US | 7:15 | Q4 2016 Earnings Release | Q4 2016 | 1.189 |
Intercontinental Exchange Inc | ICE US | 7:30 | Q4 2016 Earnings Release | Q4 2016 | 0.693 |
General Motors Co | GM US | 7:30 | Q4 2016 Earnings Release | Q4 2016 | 1.17 |
Michael Kors Holdings Ltd | KORS US | 8:00 | Q3 2017 Earnings Call | Q3 2017 | |
S&P Global Inc | SPGI US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Omnicom Group Inc | OMC US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Tesoro Corp | TSO US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Cardinal Health Inc | CAH US | 8:30 | Q2 2017 Earnings Call | Q2 2017 | |
AMETEK Inc | AME US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Centene Corp | CNC US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Intercontinental Exchange Inc | ICE US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Fidelity National Info Services | FIS US | 8:30 | Q4 2016 Earnings Call | Q4 2016 | |
Mallinckrodt PLC | MNK US | 8:30 | C1 2017 Earnings Call | C1 2017 | |
Archer-Daniels-Midland Co | ADM US | 9:00 | Q4 2016 Earnings Call | Q4 2016 | |
FMC Corp | FMC US | 9:00 | Q4 2016 Earnings Call | Q4 2016 | |
National Oilwell Varco Inc | NOV US | 9:00 | Q4 2016 Earnings Call | Q4 2016 | |
Mosaic Co/The | MOS US | 9:00 | Q4 2016 Earnings Call | Q4 2016 | |
Credicorp Ltd | BAP US | 9:30 | Q4 2016 Earnings Call | Q4 2016 | |
General Motors Co | GM US | 10:00 | Q4 2016 Earnings Call | Q4 2016 | |
Emerson Electric Co | EMR US | 11:00 | Annual General Meeting | ||
Vulcan Materials Co | VMC US | 11:00 | Q4 2016 Earnings Call | Q4 2016 | |
TransDigm Group Inc | TDG US | 11:00 | Q1 2017 Earnings Call | Q1 2017 | |
Church & Dwight Co Inc | CHD US | 12:30 | Q4 2016 Earnings Call | Q4 2016 | |
Emerson Electric Co | EMR US | 14:00 | Q1 2017 Earnings Call | Q1 2017 | |
Macerich Co/The | MAC US | 14:00 | Q4 2016 Earnings Call | Q4 2016 | |
Mondelez International Inc | MDLZ US | 16:00 | Q4 2016 Earnings Release | Q4 2016 | 0.49 |
Akamai Technologies Inc | AKAM US | 16:01 | Q4 2016 Earnings Release | Q4 2016 | 0.678 |
Walt Disney Co/The | DIS US | 16:30 | Q1 2017 Earnings Call | Q1 2017 | |
Gilead Sciences Inc | GILD US | 16:30 | Q4 2016 Earnings Call | Q4 2016 | |
O’Reilly Automotive Inc | ORLY US | 16:30 | Q4 2016 Earnings Release | Q4 2016 | 2.541 |
Akamai Technologies Inc | AKAM US | 16:30 | Q4 2016 Earnings Call | Q4 2016 | |
Microchip Technology Inc | MCHP US | 17:00 | Q3 2017 Earnings Call | Q3 2017 | |
Mondelez International Inc | MDLZ US | 17:00 | Q4 2016 Earnings Call | Q4 2016 | |
CSRA Inc | CSRA US | 17:00 | Q3 2017 Earnings Call | Q3 2017 | |
Walt Disney Co/The | DIS US | Aft-mkt | Q1 2017 Earnings Release | Q1 2017 | 1.493 |
Gilead Sciences Inc | GILD US | Aft-mkt | Q4 2016 Earnings Release | Q4 2016 | 2.544 |
Microchip Technology Inc | MCHP US | Aft-mkt | Q3 2017 Earnings Release | Q3 2017 | 0.903 |
Pioneer Natural Resources Co | PXD US | Aft-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.315 |
Assurant Inc | AIZ US | Aft-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.527 |
CSRA Inc | CSRA US | Aft-mkt | Q3 2017 Earnings Release | Q3 2017 | 0.457 |
Fortive Corp | FTV US | Aft-mkt | Q4 2016 Earnings Release | Q4 2016 | 0.668 |
Fortive Corp | FTV US | 17:30 | Q4 2016 Earnings Call | Q4 2016 | |
Rockwell Automation Inc | ROK US | 18:30 | Annual General Meeting | Y 2017 | |
Regeneron Pharmaceuticals Inc | REGN US | Q4 2016 Earnings Release | Q4 2016 | 3.047 |
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