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Published At Asset Class / Category Tickers Content
Tuesday, 21 Apr 2015
13:04

For after-market and pre-market company news, announcements, M&A flow and dividends for US equities up to 1300BST/0800EDT please see here
This report contains after-market and pre-market US company earnings which have been reported up to 1300BST/0800EDT for all US listed companies with a market cap of over USD 1bln
All US corporate earnings which are reported between 1300BST/0800EDT and 1400BST/0900EDT open will be included in the DAILY US CORPORATEEARNINGS REPORT – FINAL EDITION posted at 1400BST/0900EDT

Large Cap (>USD 20bln) Stocks​​

Canadian National Railway (CNI) Q1 Adj. EPS CAD 0.86 vs Exp. CAD 0.85 and Q1 Revenue CAD 3.10bln vs Exp. CAD 3.02bln

DuPont (DD) Q1 operating EPS USD 1.34 vs. Exp. USD 1.31

International Business Machines Corp (IBM) Q1 Adj. operating EPS USD 2.91 vs. Exp. USD 2.80, Q1 revenue USD 19.6bln vs. Exp. USD 19.6bln, Q1 gross profit margin operating 49.3% vs. Exp. 48.8%, reaffirms forecasts for the year and still forecasts 2015 Adj. EPS USD 15.75-16.50 vs. Exp. USD 15.86

Kimberly Clark (KMB) Q1 Adj. EPS USD 1.42 vs. Exp. USD 1.33 and confirms guidance for 2015, Q1 net revenue USD 4.69bln vs. Exp USD 4.61bln and Venezuelan FX rates will trim annual sales by around 3%.

Lam Research Corp (LRCX) Q3 Adj. EPS USD 1.40 vs. Exp. USD 1.30

Lockheed Martin (LMT) Q1 EPS USD 2.74 vs. Exp. USD 2.50; boosts EPS & op. profit for 2015, forecasts FY EPS  within the range of USD 10.85-11.15 vs. Exp. 11.15 (Prev. USD 10.80 - 11.00) and Q1 net revenue USD 10.1bln vs. Exp. USD 10.3bln. 

Travelers Company (TRV) Q1 Operating EPS USD 2.53 vs Exp. USD 2.52; raises dividend by 11% to USD 0.61 vs. Exp. USD 0.57 and increases buyback by USD 5bln and Q1 Revenue USD 6.63bln vs Exp. USD 6.78bln

Under Armour Inc (UA) Q1 EPS USD 0.05 vs. Exp. USD 0.047; raises forecast, Q1 revenue USD 804.9mln ln vs. Exp. USD 802.0mln and sees FY operating income at USD 400-408mln and net revenue at approximately USD 3.78bln vs. Exp. USD 3.81bln.

United Technologies (UTX) Q2 EPS USD 1.58 vs. Exp. USD 1.46; reaffirms 2015 EPS forecast and Q2 revenue USD 14.5bln vs. Exp. USD 14.89bln, sees 2015 EPS at USD 6.85-7.05.

Verizon (VZ) Q1 EPS USD 1.02 vs. Exp. USD 0.95, Q1 postpaid net additions 565k vs Exp. 587k and Q1 operating revenue USD 32.00bln vs Exp. USD 32.27bln

 

Small-to-Mid Cap Stocks (USD 1-20bln)​​

(ABG) | Asbury Automotive Group Inc | Q1 EPS USD 1.3 vs. Exp. USD 1.184

(AMTD) | TD Ameritrade Holding Corp | Q2 EPS USD 0.35 vs. Exp. USD 0.354

(ATI) | Allegheny Technologies Inc | Q1 EPS USD 0.09 vs. Exp. USD 0.102

(DOV) | Dover Corp | Q1 EPS USD 0.72 vs. Exp. USD 0.706

(EAT) | Brinker International Inc | Q3 EPS USD 0.94 vs. Exp. USD 0.939

(EDU) | New Oriental Education & Technology Group Inc | Q3 EPS USD 0.29 vs. Exp. USD 0.25

(FITB) | Fifth Third Bancorp | Q1 EPS USD 0.37 vs. Exp. USD 0.371

(HOG) | Harley-Davidson Inc | Q1 EPS USD 1.27 vs. Exp. USD 1.241

(LECO) | Lincoln Electric Holdings Inc | Q1 EPS USD 0.89 vs. Exp. USD 0.845

(MAN) | ManpowerGroup Inc | Q1 EPS USD 0.83 vs. Exp. USD 0.788

(MLI) | Mueller Industries Inc | Q1 EPS USD 0.39

(MLNX) | Mellanox Technologies Ltd | Q1 EPS USD 0.6 vs. Exp. USD 0.478

(MTG) | MGIC Investment Corp | Q1 EPS USD 0.26 vs. Exp. USD 0.216

(NTRS) | Northern Trust Corp | Q1 EPS USD 0.94 vs. Exp. USD 0.872

(OMC) | Omnicom Group Inc | Q1 EPS USD 0.83 vs. Exp. USD 0.823

(PNR) | Pentair PLC | Q1 EPS USD 0.65 vs. Exp. USD 0.651

(RF) | Regions Financial Corp | Q1 EPS USD 0.18 vs. Exp. USD 0.18

(SAH) | Sonic Automotive Inc | Q1 EPS USD 0.37 vs. Exp. USD 0.379

(SBNY) | Signature Bank/New York NY | Q1 EPS USD 1.64 vs. Exp. USD 1.586

(SNV) | Synovus Financial Corp | Q1 EPS USD 0.38 vs. Exp. USD 0.362

 

Small-to-Mid Cap Stocks (USD 1-20bln) from after-market yesterday

BancorpSouth Inc (BXS) Q1 Operating EPS USD 0.33 vs. Exp. USD 0.33

BBCN Bancorp Inc (BBCN) Q1 EPS USD 0.27 vs. Exp. USD 0.27

Brown & Brown Inc (BRO) Adj Q1 EPS USD 0.40 vs. Exp. USD 0.40

Equity LifeStyle Properties Inc (ELS) Q1 Normalized FFO/Shr USD 0.83 vs. Exp. USD 0.81

Fortinet Inc (FTNT) Q1 Adj. EPS USD 0.08 vs. Exp. USD 0.06

Gulfmark Offshore Inc (GLF) Q1 EPS USD -0.2 vs. Exp. USD -0.24

Helix Energy Solutions Group Inc (HLX) Q1 EPS USD 0.19 vs. Exp. USD 0.07

Hexcel Corp (HXL) Q1 Adj. EPS USD 0.58 vs. Exp. USD 0.56

Idex (IEX) Q1 EPS USD 0.84 vs Exp. USD 0.82

MB Financial Inc (MBFI) Q1 EPS USD 0.43 vs. Exp. USD 0.50

Packaging Corp of America (PKG) Q1 EPS USD 1.01 vs. Exp. USD 1.09

RLI Corp (RLI) Q1 operating EPS USD 0.50 vs. Exp. USD 0.53

Sanmina (SANM) Q2 Adj. EPS USD 0.50 vs. Exp. USD 0.53

Sensient Technologies Corp (SXT) Q1 EPS USD 0.76 vs. Exp. USD 0.73

Steel Dynamics Inc (STLD) Adj Q1 EPS USD 0.17 vs. Exp. USD 0.14

Western Alliance (WAL) Q1 EPS USD 0.45 vs Exp. USD 0.43

Woodward Inc (WWD) Q2 EPS USD 0.66 vs. Exp. USD 0.64

Zions Bancorporation (ZION) Q1 EPS USD 0.37 vs. Exp. USD 0.36

 

Source: RANsquawk
Print
Tuesday, 21 Apr 2015
13:00

- Q1 revenue USD 4.59bln vs. Exp. USD 5.30bln.

Source: BBG
Print
Tuesday, 21 Apr 2015
13:00
Tuesday, 21 Apr 2015
13:00

- Q1 operating revenue USD 3.34bln vs. Exp USD 3.47bln.

- Forecast cut by USD 0.15 per share as a consequence of FX.

Source: BBG
Print
Tuesday, 21 Apr 2015
13:00

- Q1 revenue USD 4.55bln vs. Exp. USD 4.67bln.   

Source: BBG
Print
Tuesday, 21 Apr 2015
13:00
Reaction details: 13:03

- No substantial reaction was seen in EUR/HUF as the 15bps cut was expected, trades 298.07 (-0.1%) last.  

Source: BBG
Print
Tuesday, 21 Apr 2015
12:59

For after-market and pre-market company news, announcements, M&A flow and dividends for US equities up to 1300BST/0800EDT please see here
This report contains after-market and pre-market US company earnings which have been reported up to 1300BST/0800EDT for all US listed companies with a market cap of over USD 1bln
All US corporate earnings which are reported between 1300BST/0800EDT and 1400BST/0900EDT open will be included in the DAILY US CORPORATEEARNINGS REPORT – FINAL EDITION posted at 1400BST/0900EDT

DJIA

Apple (AAPL) – Atlas Research say that iPhone 6 sales have decreased around 5% following the release of the new Samsung Galaxy. (RANsquawk)

DuPont (DD) – Activist investor Nelson Peltz is pitching a plan to large investors to break up the Co. at a meeting following the release of the Co.’s earnings update today. (NY Post)

GE (GE) – Co. said to be in talks with Blackstone (BX), Wells Fargo (WFC), Mitsubishi and Apollo (APO) to offload financial assets. (BBG)

 

S&P 500

ConAgra (CAG) – Co. has backed its FY15 Adj. EPS forecast of USD 2.15-2.19 vs. Exp. USD 2.17. (BBG)

Harris (HRS) – Co. forecasts Q3 EPS ex-items at USD 1.32 vs. Exp. USD 1.22 and has increased its FY15 Adj. EPS forecast from USD 4.95-5.05 to USD 5.00-5.10. (BBG)

Hormel Foods (HRL) – Co. has reaffirmed its FY15 Adj. EPS forecast of USD 2.50-2.60 vs. Exp. USD 2.60. (BBG)

 

NASDAQ 100

Biogen (BIIB) – Co. said new data from its ATTAIN Phase 3 ADVANCE study shows efficacy of Plegridy in treatment of patients with relapsing-remitting MS. (BBG)

Mylan (MYL) – Teva (TEVA) is said to be planning a public approach for the Co. as soon as today. However, a spokesman for Teva refused to comment on the speculation when asked following the report. (RTRS) Elsewhere, Co. is seeking to invest USD 5bln to increase its Indian operations in the Andhra Pradesh region. (Times of India)

Yahoo (YHOO) – Co. and Microsoft (MSFT) have inserted a supplementary termination clause to their search agreement which can be activated by either firm in the form of a written notice. (BBG)

 

OTHER NEWS

Barrick Gold (ABX) – Co. has contacted investors about a potential disposal of its Zaldivar copper mine which could fetch around USD 2bln, according to sources. (RTRS)

Brookfield Asset Management (BAM) – Co. is to issue 17.9mln of Class A Limited Voting shares at a price of USD 56.00/shr. (BBG)

Incyte (INCY) – Piper Jaffray has increased its price target on the Co. from USD 80 to USD 121. (BBG)

Rovi (ROVI) – Co. has sent a letter to shareholders requesting them to vote for nominees for its board of directors at its AGM on 13th May. (BBG)

Twitter (TWTR) – Co. has begun vending tickets for large sporting events such as the Playoffs for the NBA, according to a source. (Re/code)

Vanguard Natural (VNR) / LRR Energy (LRE) – Vanguard Natural is to purchase LRR Energy in a deal valued at USD 539mln. (BBG)

 

Banks – US DoJ is pushing JPMorgan (JPM), Citi (C), Barclays (BCS) and others to settle on FX rigging allegations by the middle of next month, according to sources. A potential settlement could see some of the financial firms pay around USD 1bln in compensation. (FT)

Bird Flu Names – A farm in Iowa of around 5.3mln chickens has been hit with bird flu, bringing the total number of affected poultry since last November up to nearly 8mln. (WSJ)

Chip Names – German chip maker SAP reported Q1 non-IFRS total revenue EUR 4.5bln vs, Exp. EUR 4.3bln and Q1 IFRS profit after tax EUR 413mln vs. Prev. EUR 534mln. Elsewhere, UK manufacturer Arm Holdings (ARM LN) reported Q1 pre-tax GBP 120.5mln vs. Exp. GBP 115mln and Q1 revenue GBP 227.5mln vs. Exp. GBP 224.4mln.

 

BROKER MOVES

Upgrades

58.COM (WUBA) UPGRADED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE

AIR FRANCE-KLM (AFLYY) UPGRADED TO NEUTRAL FROM SELL AT CITIGROUP

ALIGN TECHNOLOGY (ALGN) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY

BRISTOL-MYERS (BMY) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY

CHECK POINT (CHKP) UPGRADED TO BUY FROM HOLD AT ARGUS

CROWN HOLDINGS (CCK) UPGRADED TO BUY FROM NEUTRAL AT BOFA/MERRILL

DANSKE BANK (DNSKY) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY

ENCANA (ECA) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY

FARO TECHNOLOGIES (FARO) UPGRADED TO BUY FROM HOLD AT GABELLI

FIRST HORIZON (FHN) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT FBR CAPITAL

FIRST INDUSTRIAL REALTY (FR) UPGRADED TO BUY FROM HOLD AT STIFEL

HEINEKEN (HEINY) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN

PAYCHEX (PAYX) UPGRADED TO NEUTRAL FROM UNDERWEIGHT AT JPMORGAN

SQUARE 1 FINANCIAL (SQBK) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE

TOTAL (TOT) UPGRADED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE

 

Downgrades

ANGLO AMERICAN (AAUKY) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

CASH AMERICA (CSH) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT MACQUARIE

CONSTELLATION BRANDS (STZ) DOWNGRADED TO NEUTRAL FROM BUY AT SUNTRUST

EVERSOURCE (ES) DOWNGRADED TO NEUTRAL FROM BUY AT UBS

GRAN TIERRA (GTE) DOWNGRADED TO SECTOR PERFORMER FROM OUTPERFORMER AT CIBC

HOUGHTON MIFFLIN (HMHC) DOWNGRADED TO HOLD FROM BUY AT STIFEL

LENNOX (LII) DOWNGRADED TO NEUTRAL FROM BUY AT NOMURA

MATTEL (MAT) DOWNGRADED TO HOLD FROM BUY AT ARGUS

NEWFIELD EXPLORATION (NFX) DOWNGRADED TO HOLD FROM BUY AT SOCIETE GENERALE

NOBLE ENERGY (NBL) DOWNGRADED TO HOLD FROM BUY AT SOCIETE GENERALE

OCEANEERING (OII) DOWNGRADED TO UNDERPERFORM FROM HOLD AT JEFFERIES

PHIBRO ANIMAL HEALTH (PAHC) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY

PIONEER NATURAL (PXD) DOWNGRADED TO SELL FROM HOLD AT SOCIETE GENERALE

REPUBLIC AIRWAYS (RJET) DOWNGRADED TO HOLD FROM BUY AT EVERCORE ISI

RHINO RESOURCES (RNO) DOWNGRADED TO SELL FROM HOLD AT STIFEL

RIO TINTO (RIO) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS

SABMILLER (SBMRY) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT CREDIT SUISSE

SHAKE SHACK (SHAK) DOWNGRADED TO HOLD FROM BUY AT STIFEL

STONEGATE MORTGAGE (SGM) DOWNGRADED TO MARKET PERFORM AT KEEFE BRUYETTE

TORCHMARK (TMK) DOWNGRADED TO UNDERWEIGHT FROM OVERWEIGHT AT BARCLAYS

ULTRA CLEAN (UCTT) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT NORTHLAND

 

Initiations

BED BATH & BEYOND (BBBY) INITIATED WITH A BUY AT CANTOR

BIOCRYST (BCRX) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

BOVIE MEDICAL (BVX) INITIATED WITH AN OUTPERFORM AT JMP SECURITIES

CALAVO GROWERS (CVGW) INITIATED WITH A BUY AT JANNEY CAPITAL

COACH (COH) INITIATED WITH A SELL AT CANTOR

COMPUGEN (CGEN) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER

CORCEPT THERAPEUTICS (CORT) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

CRITEO (CRTO) INITIATED WITH AN OUTPERFORM AT RAYMOND JAMES

CYTRX (CYTR) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

DOLLAR TREE (DLTR) INITIATED WITH A BUY AT CANTOR

GENOCEA (GNCA) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

GERON (GERN) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER

HUBSPOT (HUBS) INITIATED WITH A BUY AT NEEDHAM

JERNIGAN CAPITAL (JCAP) INITIATED WITH A BUY AT WUNDERLICH

LA JOLLA (LJPC) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER

LUMBER LIQUIDATORS (LL) INITIATED WITH A BUY AT CANTOR

NEW RESIDENTIAL (NRZ) REINSTATED WITH AN OUTPERFORM AT CREDIT SUISSE

PALO ALTO (PANW) RE-INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL

REGULUS (RGLS) COVERAGE RESUMED WITH AN OUTPERFORM AT FBR CAPITAL

REGULUS (RGLS) RESUMED WITH AN OUTPERFORM AT FBR CAPITAL

RENT-A-CENTER (RCII) INITIATED WITH A BUY AT CANTOR

RUBICON PROJECT (RUBI) INITIATED WITH AN OUTPERFORM AT RAYMOND JAMES

SOLARCITY (SCTY) INITIATED WITH AN OUTPERFORM AT NORTHLAND

SOLAREDGE (SEDG) INITIATED WITH A BUY AT CANACCORD

SPECTRUM BRANDS (SPB) INITIATED WITH AN OVERWEIGHT AT KEYBANC

SUMMIT MATERIALS (SUM) INITIATED WITH A BUY AT BB&T

SUMMIT MATERIALS (SUM) INITIATED WITH A BUY AT STERNE AGEE

SUMMIT MATERIALS (SUM) INITIATED WITH A BUY AT STIFEL

SUMMIT MATERIALS (SUM) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

SYNERGY RESOURCES (SYRG) INITIATED WITH A BUY AT KLR GROUP

SYNTA PHARMACEUTICALS (SNTA) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

URBAN OUTFITTERS (URBN) INITIATED WITH A BUY AT CANTOR

ZAFGEN (ZFGN) INITIATED WITH AN OUTPERFORM AT FBR CAPITAL

 

Broker Moves Compiled from: BBG, RTRS, ZeroHedge and theflyonthewall

Source: RANsquawk
Print
Tuesday, 21 Apr 2015
12:48
Source: RANsquawk
Print
Tuesday, 21 Apr 2015
12:45

- US Chain Store Sales (Apr 18) Y/Y 3.3% (Prev. 3.8%)  

Source: BBG
Print
Tuesday, 21 Apr 2015
12:42
Source: RANsquawk
Print
Tuesday, 21 Apr 2015
12:39

JPMorgan Treasury Client Survey:

- Longs 11 (Prev. 9)

- Neutrals 61 (Prev. 67)

- Shorts 28 (Prev. 24)

Active Clients:

- Longs 8 (Prev. 8)

- Neutrals 67 (Prev. 75)

- Shorts 25 (Prev. 17)

Source: BBG
Print
Tuesday, 21 Apr 2015
12:39
Tuesday, 21 Apr 2015
12:37

- Sources also said that they forecast a deal being struck by the end of April. 

Analysis details: 12:41

- Yesterday, Greece issued a decree which meant that local governments will have to deposit cash to the Greek Central Bank. 

Reaction details: 12:45

- In an immediate reaction DAX June'15 futures rose 55.5 ticks from 11987.0 to 12042.5 (+105.0 last).  

Source: BBG
Print
Tuesday, 21 Apr 2015
12:35
Source: Boersenzeitung
Print
Tuesday, 21 Apr 2015
12:31

- Q1 postpaid net additions 565k vs Exp. 587k

- Q1 operating revenue USD 32.00bln vs Exp. USD 32.27bln

Source: BBG
Print
Tuesday, 21 Apr 2015
12:28
Reaction details: 12:31

- In an immediate reaction HOLN VX shares rose 0.4% from EUR 74.45 to EUR 74.75 (-0.3% last) while LG FP shares rose 0.5% from EUR 64.64 to EUR 64.98 (+0.6% last). 

Source: BBG
Print
Tuesday, 21 Apr 2015
12:25

- Forecasts FY EPS  within the range of USD 10.85-11.15 vs. Exp. 11.15 (Prev. USD 10.80 - 11.00)

- Q1 net revenue USD 10.1bln vs. Exp. USD 10.3bln.  

Source: BBG
Print
Tuesday, 21 Apr 2015
12:15
Source: RANsquawk
Print
Tuesday, 21 Apr 2015
12:15

- Venezuelan FX rates will trim annual sales by around 3%. 

Source: BBG
Print
Tuesday, 21 Apr 2015
12:11
Analysis details: 12:16

- Australian CPI Q/Q and Y/Y is scheduled for tonight at 0230BST/2030CDT with Q/Q Exp. 0.1% and Y/Y Exp. 1.3%.  

Source: Herald Sun
Print
Tuesday, 21 Apr 2015
12:05
Tuesday, 21 Apr 2015
12:01
Tags: USD - EU Session - Silver
Source: BBG
Print
Tuesday, 21 Apr 2015
12:00

- Q1 revenue USD 804.9mln ln vs. Exp. USD 802.0mln.  

- Sees FY operating income at USD 400-408mln and net revenue at approximately USD 3.78bln vs. Exp. USD 3.81bln. 

Source: BBG
Print
Tuesday, 21 Apr 2015
12:00

- Q1 Revenue USD 3.47bln vs Exp. 3.46bln

Source: BBG
Print
Tuesday, 21 Apr 2015
11:59

- Q2 revenue USD 14.5bln vs. Exp. USD 14.89bln.  

- Sees 2015 EPS at USD 6.85-7.05.

Source: RTRS
Print