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Adviser MONEY MAKING MC
08 July 2016
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 +0.26%) are up +0.23% and European
stocks are up +1.10% on light short-covering ahead of U.S. Jun non-farm
payrolls. A rally in Italian bank stocks is leading the overall European market
higher with Banco Popolare SC up over 9% after it said its own stress tests
showed "resilience" to adverse shocks and Banca Monte dei Paschi di
Siena SpA was up almost 5% after its CEO said it's working
"intensely" with authorities to quickly resolve its bad-loan burden.
Italian authorities are trying to shore up its banks that have 360 billion of
soured loans. European automakers are higher as well on signs of strong auto
sales in China as Mercedes-Benz reported China Jan-Jun auto sales surged +32%
y/y to 229,137 units. Asian stocks settled mostly lower: Japan -1.11%, Hong Kong -0.69%, China -0.95%, Taiwan closed for holiday,
Australia +0.05%, Singapore -0.53%,
South Korea -0.48%, India -0.27%. Japan's Nikkei Stock Index
fell to a 1-week low as a stronger yen undercut exporter stocks.
The dollar index (DXY00 -0.20%) is down -0.22%. EUR/USD (^EURUSD)
is up +0.03%. USD/JPY (^USDJPY) is down -0.31%.
Sep
T-note prices (ZNU16 -0.05%)
are down -3 ticks. The Total Investment &
Insurance Solutions
The German May trade
balance fell to a surplus of +21.0 billion euros, smaller than expectations of
+23.5 billion euros. May exports unexpectedly fell-1.8% m/m, weaker than expectations of +0.4%
m/m and the biggest decline in 9 months. May imports rose +0.1% m/m, weaker
than expectations of +0.7% m/m.
Key U.S. news today
includes: (1) Jun non-farm payrolls (expected +180,000, May +38,000) and Jun
unemployment rate (expected +0.1 to 4.8%, May-0.3 to 4.7%), (2) May consumer credit
(expected +$16.000 billion, Apr +$13.416 billion), (3) G-20 trade ministers meeting in Shanghai,
and (4) USDA weekly Export Sales.
Russell 1000 companies
reporting earnings today: none.
U.S. IPO's scheduled to
price today: none.
Equity
conferences this week include: none.
The Total Investment & Insurance Solutions
Molson Coors Brewing (TAP -1.40%) was upgraded to 'Buy' from
'Neutral' at Bryan Garnier & Cie with a 6-month price target of $110.
GrubHub
(GRUB +0.78%) was rated a new 'Outperform'
at Wedbush with a 12-month price target of $40. The Total Investment &
Insurance Solutions
Transocean
Ltd (RIG +0.50%) was downgraded to 'Sell' from
'Hold' at Cananccord Genuity.
The Total Investment & Insurance Solutions
McDonald's (MCD +0.24%) said it sees a Q2 pretax
charge of $235 million, or 20 cents a share, on refranchising and G&A
programs along with the move of its corporate headquarters.
United Technologies' (UTX +0.58%) Pratt Unit was awarded a
contract by the U.S. Navy valued at $1.5 billion for 99 total engines for the
Martin F-35Lightning II aircraft.
The Gap (GPS -0.73%) climbed 4% in after-hours
trading after Retail Metrics reported that Jun comparable same-store-sales were
up +2% y/y, better than expectations of down -3.6% y/y.
PriceSmart (PSMT -2.90%) fell over 4% in after-hours
trading after it reported Q3 EPS od 55 cents, well below consensus of 70 cents.
Capital One Financial (COF +1.00%) was upgraded to 'Buy' from
'Neutral' at D.A. Davidson with a price target of $76.
WD-40 (WDFC +0.28%) slid over 3% in after-hours trading
after it cut its view on 2016 revenue to $378 million-$383 million from an
April 7 estimate of $385 million-$394 million.
The $360 million
punitive award in the trial alleging defects in Johnson & Johnson's (JNJ -0.11%) hip implants was cut to $10
million after a Texas judge applied a cap on punitive damages.
Barracuda Networks (CUDA +3.40%) jumped 15% in after-hours
trading after it raised guidance on fiscal 2017 adjusted EPS to 54 cents-59 cents from an April 26 estimate of 45
cents-50 cents.
Roche Holding AG (RHHBY -0.15%) said it received FDA approval
for its test for human papillomavirus that can be used with cervical cells
obtained for a Pap test for use with SurePath Preservative Fluid.
Eleven
Biotherapeutics (EBIO -3.45%)
surged over 20% in after-hours trading after it said its IND application for
EDI-031 for the treatment of
ocular diseases has become effective.
The Total Investment & Insurance Solutions
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