US : Pre Market News – 09 Feb 2017

PREMARKET WORLD NEWS

Mar E-mini S&Ps (ESH17 +0.19%) are up +0.22% and European stocks are up +0.93% on the heels of a rally in European bank stocks. Societe Generale SA is up almost 2% as it leads European bank stocks higher after reporting better-than-expected quarterly earnings results. A +0.96% rally in Mar WTI crude oil (CLH17 +0.61%) is giving energy producing stocks a lift as well. Asian stocks settled mostly higher: Japan -0.53%, Hong Kong +0.17%, China +0.51%, Taiwan +0.49%, Australia +0.23%, Singapore +0.44%, South Korea -0.01%, India +0.14%. China’s Shanghai Composite climbed to a 1-3/4 month high as Chinese exporters rallied after trade concerns with the U.S. eased when President Trump sent Chinese President Xi Jinping a letter saying he is looking forward to a constructive relationship between the two countries.

The dollar index (DXY00 +0.08%) is up +0.02%. EUR/USD (^EURUSD) is down -0.14%. USD/JPY (^USDJPY) is up +0.39%.

Mar 10-year T-note prices (ZNH17 -0.16%) are down -6 ticks.

The German Dec trade balance shrank to a surplus of +18.7 billion euros, smaller than expectations of +20.5 billion euros and the smallest surplus in 11 months. Dec exports fell -3.3% m/m. weaker than expectations of -1.3% m/m and the biggest monthly decline in 16 months. Dec imports were unch m/m, stronger than expectations of -1.1% m/m.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected +3,000 to 249,000, previous -14,000 to 246,000) and continuing claims (expected -6,000 to 2.058 million, previous -39,000 to 2.064 million), (2) 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, (3) revised Dec wholesale inventories (expected unrevised from prelim-Dec +1.0%. Dec wholesale trade sales, Nov +0.4% m/m), (4) Treasury auctions $ 15 billion of 30-year T-bonds, (5) Chicago Fed President Charles Evans (voter) speaks about current economic conditions and monetary policy at the CFA Society of Chicago, (6) USDA weekly Export Sales, (7) USDA Feb WASDE crop production.

Notable S&P 500 earnings reports today include: Coca-Cola (consensus $ 0.37), Kellogg (0.85), Yum Brands (0.74), Viacom (0.84), Cummins (2.00), Regeneron (3.04), VeriSign (0.88), Expedia (1.37), News Corp (0.18).

U.S. IPO’s scheduled to price today: Foundation Building Materials (FBM), Sachem Capital (SACH), Clipper Realty (CLPR).

Equity conferences: Cowen Aerospace/Defense & Industrials Conference on Wed-Thu.

PREMARKET U.S. STOCKS

Paycom Software (PAYC -0.31%) rallied 10% in after-hours trading after it reported Q4 adjusted EPS of 18 cents, higher than consensus of 13 cents, and then said it sees Q1 revenue of $ 114.5 million-$ 116.5 million, above consensus of $ 113.8 million.

Twitter (TWTR +2.52%) tumbled 9% in pre-market trading after it reported Q4 revenue of $ 717 million, below consensus of $ 740 million.

Imperva (IMPV +0.59%) jumped nearly 9% in after-hours trading after it reported Q4 adjusted EPS of 32 cents, well above consensus of 2 cents, and then said it sees 2017 adjusted EPS of 31 cents-24 cents, stronger than consensus of 10 cents.

PayPal Holdings (PYPL +2.15%) lost nearly 2% in after-hours trading after it said it received subpoenas from the DOJ asking for information related to anti-money laundering.

iRobot (IRBT -1.05%) dropped 7% in after-hours trading after it said it sees 2017 EPS of $ 1.35-$ 1.65, below consensus of $ 1.74.

FleetCar Technologies (FLT +1.68%) climbed 6% in after-hours trading after it reported Q4 adjusted EPS of $ 1.90, above consensus of $ 1.87, and said it sees 2017 adjusted EPS of $ 8.10-$ 6.30 the midpoint above consensus of $ 8.16.

Zendesk (ZEN -0.28%) jumped 6% in after-hours trading after it reported a Q4 EPS loss of -4 cents, narrower than consensus of -6 cents, and said it sees full-year revenue of $ 415 million-$ 425 million, above consensus of $ 410.3 million.

Pilgrim’s Pride (PPC +0.37%) dropped 3% in after-hours trading after it reported Q4 adjusted EPS of 30 cents, well below consensus of 40 cents.

TTM Technologies (TTMI +2.43%) rallied 5% in after-hours trading after it reported Q4 adjusted EPS of 58 cents, higher than consensus of 45 cents, and then said it sees Q1 adjusted EPS of 25 cents-31 cents, above consensus of 24 cents.

CoreCivic (CXW +1.27%) gained over 2% in after-hours trading after it reported Q4 revenue of $ 464.1 million, higher than consensus of $ 459 million.

TrueBlue (TBI -0.62%) slid over 6% in after-hours trading after it forecast Q1 adjusted EPS of 9 cents-14 cents, weaker than consensus of 17 cents.

PCM Inc. (PCMI +1.44%) rallied over 9% in after-hours trading after it reported Q4 adjusted EPS of 51 cents, better than consensus of 45 cents.

Qualys (QLYS +0.27%) dropped over 7% in after-hours trading after it said it sees Q1 adjusted EPS of 17 cents-19 cents, weaker than consensus of 21 cents, and then said its sees 2017 adjusted EPS of 81 cents-86 cents, below consensus of 92 cents.

Sterling Construction (STRL -1.15%) fell 8% in after-hours trading after it reported a Q4 preliminary net loss of -$ 5.5 million to -$ 6.5 million, well below a prior forecast of breakeven.

OraSure Technologies (OSUR +0.34%) jumped 12% in after-hours trading after it reported Q4 EPS of 13 cents, stronger than consensus of 6 cents, and then said it sees Q1 revenue of $ 31 million-$ 31.5 million, better than consensus of $ 29.7 million.

Student Transportation (STB +1.63%) rose 3% in after-hours trading after it was awarded a 10-year, $ 187 million contract starting July 1 to provide the Duval County School District in Jacksonville, Florida, with 230 school vehicles.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 +0.19%) this morning are up +5.00 points (+0.22%). Wednesday’s closes: S&P 500 +0.07%, Dow Jones -0.18%, Nasdaq +0.21%. The S&P 500 on Wednesday closed higher on strength in energy producing stocks after crude oil prices recovered from a 3-week low and closed up +0.33%, and on reduced interest rate concerns after the 10-year T-note yield fell to a 3-week low. Technology stocks rallied as the Nasdaq Composite posted a fresh all-time high.

Mar 10-year T-notes (ZNH17 -0.16%) this morning are down -6 ticks. Wednesday’s closes: TYH7 +8.00, FVH7 +4.75. Mar 10-year T-notes on Wednesday rallied to a 2-1/2 month high and closed higher on carry-over support from a rally in German bunds to a 3-week high as heightened political risks in Europe have boosted the safe-haven demand for government debt. T-notes also rallied on reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 4-week low. T-notes fell back from their best levels on weak demand for the Treasury’s $ 23 billion 10-year T-note auction that had a bid-to-cover-ratio of 2.29, weaker than the 12-auction average of 2.50.

The dollar index (DXY00 +0.08%) this morning is up +0.02 (+0.02%). EUR/USD (^EURUSD) is down -0.0015 (-0.14%). USD/JPY (^USDJPY) is up +0.44 (+0.39%). Wednesday’s closes: Dollar index -0.070 (-0.07%), EUR/USD +0.0015 (+0.14%), USD/JPY -0.46 (-0.41%). The dollar index on Wednesday closed lower on weakness in USD/JPY as political risks in Europe boosted the safe-haven demand for the yen and on the fall in the 10-year T-note yield to a 3-week low, which undercuts the dollar’s interest rate differentials.

Mar WTI crude oil prices (CLH17 +0.61%) this morning are up +50 cents (+0.96%) and Mar gasoline (RBH17 +0.47%) is +0.0125 (+0.81%). Wednesday’s closes: Mar crude +0.17 (+0.33%), Mar gasoline +0.0652 (+4.38%). Mar crude oil rebounded from a 3-week low and Mar gasoline recovered from a 2-1/4 month low on on a weaker dollar and on the unexpected decline in EIA gasoline inventories by -869,000 bbl (versus expectations for a +1.5 million bbl increase). Crude oil prices were undercut by the +13.83 million bbl surge in EIA crude oil inventories to an 8-1/2 month high (well above expectations of +2.5 million bbl) and by the +0.7% increase in U.S. crude production in the week of Feb 3 to a 10-month high of 8.978 million bpd.

 

GLOBAL EVENT CALENDAR 02/09/2017
Thursday, Feb 9
US0830 ETWeekly 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 ETUSDA weekly Export Sales.
0910 ETSt. 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 ETRevised Dec wholesale inventories expected unrevised from prelim-Dec +1.0%. Dec wholesale trade sales, Nov +0.4% m/m.
1200 ETUSDA Feb WASDE crop production.
1300 ETTreasury auctions $ 15 billion of 30-year T-bonds.
1310 ETChicago Fed President Charles Evans (voter) speaks about current economic conditions and monetary policy at the CFA Society of Chicago.
Friday, Feb 10
US0830 ETJan import price index expected +0.3% m/m and +3.3% y/y, Dec +0.4% m/m and +1.8% y/y.
1000 ETPreliminary-Feb University of Michigan U.S. consumer sentiment index expected -0.6 to 97.9, Jan +0.3 to 98.5.
1400 ETJan monthly budget statement expected +$ 43.0 billion, Dec -$ 27.5 billion.
n/aPresident Trump and Japanese Prime Minister Abe meet in Washington.
U.S. STOCK CALENDAR 02/09/2017
CompanyTickerTimeEvent DescriptionPeriodEstimate
Cummins IncCMI USBf-mktQ4 2016 Earnings ReleaseQ4 20162.001
Regeneron Pharmaceuticals IncREGN USBf-mktQ4 2016 Earnings ReleaseQ4 20163.047
Roper Technologies IncROP USBf-mktQ4 2016 Earnings ReleaseQ4 20161.835
Coty IncCOTY USBf-mktQ2 2017 Earnings ReleaseQ2 20170.341
Reynolds American IncRAI USBf-mktQ4 2016 Earnings ReleaseQ4 20160.602
DTE Energy CoDTE USBf-mktQ4 2016 Earnings ReleaseQ4 20160.855
Willis Towers Watson PLCWLTW USBf-mktQ4 2016 Earnings ReleaseQ4 20161.61
Teradata CorpTDC USBf-mktQ4 2016 Earnings ReleaseQ4 20160.602
Viacom IncVIAB USBf-mktQ1 2017 Earnings ReleaseQ1 20170.834
Allegion PLCALLE USBf-mktQ4 2016 Earnings ReleaseQ4 20160.873
Nielsen Holdings PLCNLSN US6:30Q4 2016 Earnings ReleaseQ4 20160.794
Coca-Cola Co/TheKO US6:55Q4 2016 Earnings ReleaseQ4 20160.367
CVS Health CorpCVS US6:55Q4 2016 Earnings ReleaseQ4 20161.668
Masco CorpMAS US7:00Q4 2016 Earnings ReleaseQ4 20160.344
Occidental Petroleum CorpOXY US7:00Q4 2016 Earnings ReleaseQ4 2016-0.017
Yum! Brands IncYUM US7:00Q4 2016 Earnings ReleaseQ4 20160.728
Sealed Air CorpSEE US7:00Q4 2016 Earnings ReleaseQ4 20160.743
Kellogg CoK US8:00Q4 2016 Earnings ReleaseQ4 20160.853
Masco CorpMAS US8:00Q4 2016 Earnings CallQ4 2016
BorgWarner IncBWA US8:00Q4 2016 Earnings ReleaseQ4 20160.838
Coty IncCOTY US8:00Q2 2017 Earnings CallQ2 2017
Dun & Bradstreet Corp/TheDNB US8:00Q4 2016 Earnings CallQ4 2016
Allegion PLCALLE US8:00Q4 2016 Earnings CallQ4 2016
Nielsen Holdings PLCNLSN US8:00Q4 2016 Earnings CallQ4 2016
Yum! Brands IncYUM US8:15Q4 2016 Earnings CallQ4 2016
Equifax IncEFX US8:30Q4 2016 Earnings CallQ4 2016
CVS Health CorpCVS US8:30Q4 2016 Earnings CallQ4 2016
Regeneron Pharmaceuticals IncREGN US8:30Q4 2016 Earnings CallQ4 2016
Roper Technologies IncROP US8:30Q4 2016 Earnings CallQ4 2016
Teradata CorpTDC US8:30Q4 2016 Earnings CallQ4 2016
Viacom IncVIAB US8:30Q1 2017 Earnings CallQ1 2017
Coca-Cola Co/TheKO US9:00Q4 2016 Earnings CallQ4 2016
DTE Energy CoDTE US9:00Q4 2016 Earnings CallQ4 2016
Willis Towers Watson PLCWLTW US9:00Q4 2016 Earnings CallQ4 2016
Kellogg CoK US9:30Q4 2016 Earnings CallQ4 2016
BorgWarner IncBWA US9:30Q4 2016 Earnings CallQ4 2016
Cummins IncCMI US10:00Q4 2016 Earnings CallQ4 2016
Occidental Petroleum CorpOXY US10:00Q4 2016 Earnings CallQ4 2016
Intel CorpINTC US10:00Investor MeetingY 2017
Sealed Air CorpSEE US10:00Q4 2016 Earnings CallQ4 2016
Tyson Foods IncTSN US11:00Annual General MeetingY 2017
Cincinnati Financial CorpCINF US11:00Q4 2016 Earnings CallQ4 2016
Prudential Financial IncPRU US11:00Q4 2016 Earnings CallQ4 2016
Coca-Cola Co/TheKO US11:30Financial Modeling Call
Western Union Co/TheWU US16:00Q4 2016 Earnings ReleaseQ4 20160.427
VeriSign IncVRSN US16:05Q4 2016 Earnings ReleaseQ4 20160.884
NVIDIA CorpNVDA US16:20Q4 2017 Earnings ReleaseQ4 20170.938
Activision Blizzard IncATVI US16:30Q4 2016 Earnings CallQ4 2016
Cerner CorpCERN US16:30Q4 2016 Earnings CallQ4 2016
Western Union Co/TheWU US16:30Q4 2016 Earnings CallQ4 2016
VeriSign IncVRSN US16:30Q4 2016 Earnings CallQ4 2016
Expedia IncEXPE US16:30Q4 2016 Earnings CallQ4 2016
NVIDIA CorpNVDA US17:00Q4 2017 Earnings CallQ4 2017
News CorpNWSA US17:00Q2 2017 Earnings CallQ2 2017
Activision Blizzard IncATVI USAft-mktQ4 2016 Earnings ReleaseQ4 20160.723
Cerner CorpCERN USAft-mktQ4 2016 Earnings ReleaseQ4 20160.609
Mohawk Industries IncMHK USAft-mktQ4 2016 Earnings ReleaseQ4 20163.22
Expedia IncEXPE USAft-mktQ4 2016 Earnings ReleaseQ4 20161.359
News CorpNWSA USAft-mktQ2 2017 Earnings ReleaseQ2 20170.196
Varian Medical Systems IncVAR US19:30Annual General MeetingY 2017
Advance Auto Parts IncAAP USQ4 2016 Earnings ReleaseQ4 20161.084

You may also like...

Discussion on US : Pre Market News – 09 Feb 2017