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5Th
Aug 2016
OVERNIGHT
MARKETS AND NEWS
Sep
E-mini S&Ps (ESU16 +0.19%)
are up +0.27% and European stocks are up +0.34% on speculation
central banks around the world will continue to implement measures to
support the global economy. Trading activity was light ahead of this
morning's monthly U.S. payrolls report. Stronger-than-expected
company quarterly earnings results are giving stocks a boost with
Priceline Group up nearly 5% and Kraft Heinz up over 3% in pre-market
trading. Gains in stocks were limited as an -0.88% decline
in crude oil prices (CLU16 -0.86%)
put pressure on energy producing stocks, while the upside in European
equities was contained after German Jun factory orders came in
weaker-than-expected. Asian stocks settled mixed: Japan unch, Hong
Kong +1.44%, China -0.19%, Taiwan +0.75%, Australia +0.39%,
Singapore -0.13%, South Korea +1.25%, India +1.31%.
The
dollar index (DXY00 -0.17%)
is down -0.11%. EUR/USD (^EURUSD)
is up +0.17%. USD/JPY (^USDJPY)
is down -0.17%.
Sep
T-note prices (ZNU16 +0.04%)
are little changed, up +1 tick.
German
Jun factory orders of -0.4% m/m and -3.1% y/y
were weaker than expectations of +0.5% m/m and -1.5% y/y
with the -3.1% y/y drop the largest year-over-year decline
in 3-3/4 years.The
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Key
U.S. news today includes: (1) Jul non-farm payrolls (expected
+180,000, Jun +287,000) and Jul unemployment rate (expected -0.1 to
4.8%, Jun +0.2 to 4.9%), (2) Jun trade balance (expected -$43.0
billion, May -$41.1 billion), and (3) Jun consumer credit expected
+16.0 billion, May +$18.558 billion.
There
are 8 of the S&P 500 companies that report earnings today:
Berkshire Hathaway (consensus $2911), CenterPoint Energy (0.20),
Weyerhaeuser (0.22), AES (0.16), DENTSPLY STRONA (0.0), Ameren
(0.52), Cognizant Technology (0.82), Willis Towers Watson (1.63).
U.S.
IPO's scheduled to price today: none.
Equity
conferences today: none.The
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TKraft
Heinz (KHC +0.75%)
rose over3% in pre-market trading after it reported Q2 adjusted EPS
of 85 cents, higher than consensus of 71 cents.
Priceline
Group (PCLN -0.81%)
climbed nearly 5% in pre-market trading after it reported Q2 adjusted
EPS of $13.93, well above consensus of $12.67.
Esterline
Technologies (ESL +1.19%)
rallied over 4% in after-hours trading after it reported Q3 adjusted
EPS of $1.38, better than consensus of $1.30.
Activision
Blizzard (ATVI +1.11%)
gained over 1% in after-hours trading after it reported Q2 adjusted
EPS of 54 cents, above consensus of 43 cents.
Monster
Beverage (MNST +0.52%)
rose over 2% in after-hours trading after it reported Q2 revenue of
$827.5 million, higher than consensus of $804.2 million.
Weight
Watchers International (WTW +5.37%)
dropped over 6% in after-hours trading after it reported Q2 revenue
of $309.8 million, below consensus of $318.5 million.
Symantec
(SYMC +0.62%)
climbed over 4% in after-hours trading after it raised guidance on
fiscal 2017 adjusted EPS of $1.08-$1.14 from a May 12 view of
$1.06-$1.10
Take-Two
Interactive Software (TTWO -0.54%)
gained over 3% in after-hours trading after it reported a Q1 loss
of -21 cents per share, a smaller loss than consensus
of -29 cents.
Universal
Display (OLED -2.40%)
dropped 8% in after-hours trading after it reported Q2 EPS of 46
cents, weaker than consensus of 51 cents.
El
Pollo Loco Holdings (LOCO -0.15%)
rose over 8% in after-hours trading after it reported Q2 system-wide
comparable sales were up +2.4%, better than consensus of +1.6%,
Mastec
(MTZ -1.69%)
climbed over 12% in after-hours trading after it raised guidance on
2016 adjusted EPS to $1.57, above a prior forecast of $1.37-$1.47.
Pacific
Biosciences of California (PACB unch)
jumped over 13% in after-hours trading after it reported a Q2 loss
of -21 cents, smaller than consensus of-22 cents.
FireEye
(FEYE -3.01%)
slumped over 13% in after-hours trading after it said it now sees an
adjusted loss per share this year between -$1.28 to -$1.32, a bigger
loss than a previous estimate of -$1.20 to -$1.27.
Rackspace
Hosting (RAX +14.64%)
surged over 18% in after-hours trading after Dow Jones reported that
it is in advanced talks to be sold to a PE firm.
Hortonworks
(HDP -0.47%)
plunged over 25% in after-hours trading after it reported a Q1
non-GAAP loss of -72 cents, wider than expectations
of -68cents.
The
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MARKET
COMMENTS
Sep
E-mini S&Ps (ESU16 +0.19%)
this morning are up +5.75 points (+0.27%). Thursday's closes: S&P
500 +0.02%, Dow Jones -0.02%, Nasdaq +0.20%. The S&P 500 on
Thursday closed slightly higher on the BOE's interest rate cut and
new QE program and on the stronger-than-expected U.S. Jun factory
orders report (-1.5% and +0.4% ex transportation vs.
expectations of -1.9% and -0.2% ex
transportation). Stocks were slightly undercut by the +3,000 increase
in U.S. weekly initial unemployment claims.
Sep
10-year T-notes (ZNU16 +0.04%)
this morning are up +1 tick. Thursday's closes: TYU6 +12.00, FVU6
+6.25. Sep T-notes on Thursday closed higher on carry-over support
from a rally in UK gilt prices to a record high after the BOE cut
interest rates and expanded stimulus measures.
The
dollar index (DXY00 -0.17%)
this morning is down -0.110 (-0.11%). EUR/USD (^EURUSD)
is up +0.0019 (+0.17%). USD/JPY (^USDJPY)
is down-0.17 (-0.17%). Thursday's closes: Dollar index +0.195
(+0.20%), EUR/USD -0.0019 (-0.17%), USD/JPY -0.02 (-0.02%).
The dollar index on Thursday closed higher on weakness in GBP/USD
which fell to a 1-week low after the BOE cut its benchmark interest
rate by 25 bp to a record low 0.25% and boosted its asset purchase
target by 60 billion pounds to 435 billion pounds. The dollar also
received a boost from the stronger-than-expected U.S. Jun factory
orders report.
Sep
WTI crude oil (CLU16 -0.86%)
this morning is down -37 cents (-0.88%) and Sep gasoline
(RBU16 -1.02%)
is down -0.0129 (-0.94%). Thursday's closes: CLU6 +1.10
(+2.69%), RBU6 +0.0181 (+1.34%). Sep crude oil and gasoline on
Thursday closed higher on the BOE's new stimulus measures and on the
closure of the two biggest Mexican Gulf Coast oil export terminals
due to Tropical Storm Earl. A bearish factor was the stronger
dollar.The
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