Latest News

Register today to access an auto-updating and searchable version of this news feed along with many other bonus features!

13:50 US Equities

US DATA EXPECTATIONS: US New Home Sales (Mar) due in 10mins at 1500BST/0900CDT; expectations…

- US New Home Sales (Mar) M/M Exp. 450K (Low. 428K , High 476K ) Prev. 440K
- US New Home Sales (Mar) M/M Exp. 2.3% (Low -2.7% , High 8.2% ) Prev. -3.3%

13:50 US Equities

Woodward (WWD) upgraded to buy from neutral at CL King

13:45 US Data

US Manufacturing PMI (Apr P) 55.4 vs. Exp. 56.0 (Prev. 55.5)

- Output index 58.2 vs. flash reading of 57.5; highest since March 2011
- New orders index 58.9 vs. flash reading 58.1

13:44 FX Flows

USD/CAD trades very close to a large vanilla option expiry of 1.5bln at 1.1055 with the NY cut just 15 minutes away

13:43 Equities

Allergan (AGN) cut to sell from hold at Edward Jones

13:43 Market Analysis

NASDAQ 100 underperforms following the open on Wall Street, breaking below the 100DMA at 3579, with laggards including Intuitive (ISRG) and Amgen (AMGN) post-earnings as well as Netflix (NFLX) after news of a licensing pact between Amazon (AMZN) and HBO

13:34 Global News

Russia is extremely surprised by Kiev and Washington's distorted interpretation of agreement reached in Geneva last week on de-escalation of Ukraine crisis, according to foreign ministry

Says:
- Kiev and Washington closing their eyes to provocative actions by nationalist forces in Ukraine.

13:32 Global News

Russian military conducts military exercise in Rostov region, bordering Ukraine, according to defence ministry official

13:30 Fixed Income

RANsquawk sources note the latest downtick in Jun Bund future is due to swap paying in Bobls - Unconfirmed

'RANsquawk source' - Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.

13:28 Commodities

WTI crude futures erase the overnight weakness to move back into minor positive territory

13:23 US Equities

NYSE opening imbalance: 17/30 for sale in DJIA

13:16 Metals News

London PM Platinum Fix USD 1,400.00 (AM USD 1,404.00); Palladium Fix USD 786.00 (AM USD 784.00)

13:15 Economic commentary

UK April 1y CPI expectations 2% vs Prev. 2.1% in March, according to Citi/Yougov poll

- UK inflation expectations for next 5-10 years rises to 2.9% in April from 2.8% in March.

13:04 Equities

Caterpillar (CAT) March 3-month rolling retail machine sales down 12%

- Asia/Pacific dealer reported retail statistics of machines for 3-month rolling period ended March down 20%.

13:02 FTSE 100

Rolls Royce (RR/ LN) and Azul Brazil sign pact worth USD 400mln

13:00 Other Data

Mexican Retail Sales (Feb) Y/Y -1.7% vs. Exp. 0.4% (Prev. -0.3%)

12:53 Equities

Randstad (RAND NA) raised to buy from neutral at Goldman Sachs

12:52 Forex

Option expiries of note for today's 1000am NY cut (1500BST)

- USD/JPY: 102.25, 102.30, 102.35 (500mln)
- USD/CHF: 0.8800 (300mln)
- EUR/USD: 1.3800
- AUD/NZD: 0.9250
- USD/CAD: 1.1055 (1.5bln)
- EUR/CHF: 1.2225

12:52 FTSE 100

Resolution (RSL LN) raised to buy vs neutral at Goldman

12:46 European Equities

OEIAG board said to be unable to approve Telekom Austria (TKA AV) and Slim pact

12:46 US Equities

Today's major pre-market US broker moves:

Upgrades

A.O. SMITH (AOS) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BMO CAPITAL
AGNICO-EAGLE (AEM) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
AK STEEL (AKS) UPGRADED TO OUTPERFORM FROM NEUTRAL AT MACQUARIE
ALLERGAN (AGN) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
AMERICA MOVIL (AMX) UPGRADED TO OUTPERFORM AT ITAU BBA
ANSYS (ANSS) UPGRADED TO OUTPERFORM AT WILLIAM BLAIR
ATHENAHEALTH (ATHN) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
CABOT OIL & GAS (COG) UPGRADED TO BUY FROM HOLD AT SOCIETE GENERALE
CREE (CREE) UPGRADED TO BUY FROM HOLD AT SUMMIT RESEARCH
EQUIFAX (EFX) UPGRADED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE
E-TRADE (ETFC) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT WELLS FARGO
FLUIDIGM (FLDM) UPGRADED TO BUY FROM NEUTRAL AT MIZUHO
HANMI FINANCIAL (HAFC) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT FIG PARTNERS
ILLUMINA (ILMN) UPGRADED TO BUY FROM HOLD AT MAXIM
LUMBER LIQUIDATORS (LL) UPGRADED TO BUY FROM NEUTRAL AT LONGBOW
MEDIDATA SOLUTIONS (MDSO) UPGRADED TO BUY FROM NEUTRAL AT B. RILEY
PROLOGIS (PLD) UPGRADED TO BUY FROM NEUTRAL AT ISI GROUP
SANMINA (SANM) UPGRADED TO BUY FROM HOLD AT CRAIG-HALLUM
SUNPOWER (SPWR) UPGRADED TO BUY FROM UNDERPERFORM AT BOFA/MERRILL
TECO ENERGY (TE) UPGRADED TO NEUTRAL FROM SELL AT UBS
TORCHMARK (TMK) ASSUMED WITH A MARKET PERFORM FROM UNDERPERFORM AT KEEFE BRUYETTE
YANDEX (YNDX) UPGRADED TO BUY AT VTB

Downgrades

BROWN & BROWN (BRO) DOWNGRADED TO NEUTRAL FROM BUY AT COMPASS POINT
CTC MEDIA (CTCM) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT CREDIT SUISSE
ELI LILLY (LLY) DOWNGRADED TO NEUTRAL AT MKM
GRUPO TELEVISA (TV) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
PENTAIR (PNR) DOWNGRADED TO NEUTRAL AT WEDBUSH
PHILIPS (PHG) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
QUALITY SYSTEMS (QSII) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
REXNORD (RXN) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
TATA MOTORS (TTM) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE

Initiations

BALL CORP. (BLL) INITIATED WITH A NEUTRAL AT JPMORGAN
CENTRAL VALLEY COMMUNITY BANCORP (CVCY) INITIATED WITH AN OUTPERFORM AT FIG PARTNERS
CROWN HOLDINGS (CCK) INITIATED WITH AN OVERWEIGHT AT JPMORGAN
FIRST CASH FINANCIAL (FCFS) INITIATED WITH AN OVERWEIGHT AT HSBC
GALMED (GLMD) INITIATED WITH A BUY AT MAXIM
HARMAN (HAR) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL
INTERVAL LEISURE (IILG) INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL
KROGER (KR) INITIATED WITH A MARKET PERFORM AT WELLS FARGO
MANULIFE FINANCIAL (MFC) INITIATED WITH A BUY AT UBS
OCCIDENTAL PETROLEUM (OXY) INITIATED WITH A NEUTRAL AT GLOBAL HUNTER
ONEOK PARTNERS (OKS) INITIATED WITH A NEUTRAL AT ISI GROUP
OWENS-ILLINOIS (OI) INITIATED WITH A NEUTRAL AT JPMORGAN
SPROUTS FARMERS MARKETS (SFM) INITIATED WITH AN OUTPERFORM AT WELLS FARGO
SUN LIFE FINANCIAL (SLF) INITIATED WITH A BUY AT UBS
TPG SPECIALTY LENDING (TSLX) INITIATED WITH A NEUTRAL AT CITIGROUP
UGI CORPORATION (UGI) INITIATED WITH AN EQUALWEIGHT AT BARCLAYS
WHITEWAVE FOODS (WWAV) INITIATED WITH A BUY AT DEUTSCHE BANK
WILLIAMS PARTNERS (WPZ) INITIATED WITH A BUY AT ISI GROUP

12:44 US Equities

DAILY US EQUITY OPENING NEWS: NOW AVAILABLE IN RESEARCH SECTION: Amgen (AMGN) trade lower by 2.8% after reporting Q1 Adj. EPS USD 1.87 vs. Exp. USD 1.94 and Q1 revenue USD 4.52bln vs. Exp. USD 4.75bln

The Daily US Equity Opening News is compiled by analysing hundreds of sources to get to you all the relevant market moving news information ahead of the open on the NYSE. If you would like to upgrade your account to receive access to this report please contact us at admin@ransquawk.com.

12:41 US Equities

US PRE-MARKET EARNINGS SNAP-SHOT

Larger Cap (>USD 20bln) Stocks

APD | Air Products & Chemicals Inc | Q2 EPS USD 1.32 vs. Exp. USD 1.35
BIIB | Biogen Idec Inc | Q1 EPS USD 2.47 vs. Exp. USD 2.56
BA | Boeing Co/The | Q1 EPS USD 1.76 vs. Exp. USD 1.54
DAL | Delta Air Lines Inc | Q1 EPS USD 0.33 vs. Exp. USD 0.29
DOW | Dow Chemical Co/The | Q1 EPS USD 0.79 vs. Exp. USD 0.71
EMC | EMC Corp/MA | Q1 EPS USD 0.35 vs. Exp. USD 0.35
GD | General Dynamics Corp | Q1 EPS USD 1.71 vs. Exp. USD 1.64
JCI | Johnson Controls Inc | Q2 EPS USD 0.66 vs. Exp. USD 0.65
NSC | Norfolk Southern Corp | Q1 EPS USD 1.17 vs. Exp. USD 1.15
NOC | Northrop Grumman Corp | Q1 EPS USD 2.63 vs. Exp. USD 2.15
PX | Praxair Inc | Q1 EPS USD 1.51 vs. Exp. USD 1.51
PG | Procter & Gamble Co/The | Q3 EPS USD 1.04 vs. Exp. USD 1.02
RAI | Reynolds American Inc | Q1 EPS USD 0.72 vs. Exp. USD 0.74
TEL | TE Connectivity Ltd | Q2 EPS USD 0.95 vs. Exp. USD 0.91
TMO | Thermo Fisher Scientific Inc | Q1 EPS USD 1.53 vs. Exp. USD 1.40

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

APH | Amphenol Corp | Q1 EPS USD 0.99 vs. Exp. USD 0.96
ABG | Asbury Automotive Group Inc | Q1 EPS USD 1.03 vs. Exp. USD 0.86
BEAV | B/E Aerospace Inc | Q1 EPS USD 1.06 vs. Exp. USD 1.01
EAT | Brinker International Inc | Q3 EPS USD 0.84 vs. Exp. USD 0.83
DPS | Dr Pepper Snapple Group Inc | Q1 EPS USD 0.74 vs. Exp. USD 0.59
ENTG | Entegris Inc | Q1 EPS USD 0.12 vs. Exp. USD 0.13
EVR | Evercore Partners Inc | Q1 EPS USD 0.31 vs. Exp. USD 0.51
FDML | Federal-Mogul Holdings Corp | Q1 EPS USD 0.27 vs. Exp. USD 0.33
GCI | Gannett Co Inc | Q1 EPS USD 0.47 vs. Exp. USD 0.46
IR | Ingersoll-Rand PLC | Q1 EPS USD 0.29 vs. Exp. USD 0.26
LECO | Lincoln Electric Holdings Inc | Q1 EPS USD 0.91 vs. Exp. USD 0.90
MAN | Manpowergroup Inc | Q1 EPS USD 0.86 vs. Exp. USD 0.68
MKTX | MarketAxess Holdings Inc | Q1 EPS USD 0.46 vs. Exp. USD 0.46
MDCO | Medicines Co/The | Q1 EPS USD 0.33 vs. Exp. USD 0.29
MTH | Meritage Homes Corp | Q1 EPS USD 0.62 vs. Exp. USD 0.63
OCR | Omnicare Inc | Q1 EPS USD 0.91 vs. Exp. USD 0.90
OC | Owens Corning | Q1 EPS USD 0.29 vs. Exp. USD 0.35
PII | Polaris Industries Inc | Q1 EPS USD 1.19 vs. Exp. USD 1.16
BPOP | Popular Inc | Q1 EPS USD 0.83 vs. Exp. USD 0.67
PB | Prosperity Bancshares Inc | Q1 EPS USD 0.98 vs. Exp. USD 0.98
ROL | Rollins Inc | Q1 EPS USD 0.18 vs. Exp. USD 0.18
RES | RPC Inc | Q1 EPS USD 0.19 vs. Exp. USD 0.21
R | Ryder System Inc | Q1 EPS USD 0.92 vs. Exp. USD 0.87
SEIC | SEI Investments Co | Q1 EPS USD 0.43 vs. Exp. USD 0.40
SIX | Six Flags Entertainment Corp | Q1 Loss/Shr USD 0.63 vs. Exp. Loss/Shr USD 0.67
SVU | SUPERVALU Inc | Q4 EPS USD 0.18 vs. Exp. USD 0.15
AMTD | TD Ameritrade Holding Corp | Q2 EPS USD 0.35 vs. Exp. USD 0.34
TDY | Teledyne Technologies Inc | Q1 EPS USD 1.20 vs. Exp. USD 1.13
TUP | Tupperware Brands Corp | Q1 EPS USD 1.31 vs. Exp. USD 1.16
WAB | Wabtec Corp/DE | Q1 EPS USD 0.83 vs. Exp. USD 0.80
GRA | WR Grace & Co | Q1 EPS USD 0.77 vs. Exp. USD 0.74

Earnings from after-market yesterday (22nd April 2014)

American Campus Communities Inc (ACC) Q1 FFO/Shr USD 0.69 vs. Exp. USD 0.64
Amgen Inc (AMGN) Q1 Adj. EPS USD 1.87 vs. Exp. USD 1.94
Amsurg Corp (AMSG) Q1 Cont Ops Adj. EPS USD 0.53 vs. Exp. USD 0.55
AT&T Inc (T) Q1 Adj. EPS USD 0.71 vs. Exp. USD 0.70
Community Bank System Inc (CBU) Q1 EPS USD 0.54 vs. Exp. USD 0.52
Covanta Holding Corp (CVA) Q1 Adj. Loss/Shr USD 0.03 vs. Exp. Loss/Shr USD 0.15
CR Bard Inc (BCR) Q1 EPS USD 1.91 vs. Exp. USD 1.86
Cree Inc (CREE) Q1 EPS USD 0.39 vs. Exp. USD 0.38
Cubist Pharmaceuticals Inc (CBST) Q1 Adj. EPS USD 0.10 vs. Exp. USD 0.36
Cytec Industries Inc (CYT) Q1 Adj. cont. ops. EPS USD 1.42 vs. Exp. USD 1.33
Discover Financial Services (DFS) Q1 EPS USD 1.31 vs. Exp. USD 1.25
FMC Technologies Inc (FTI) Q1 EPS USD 0.57 vs. Exp. USD 0.50
Fulton Financial Corp (FULT) Q1 EPS USD 0.22 vs. Exp. USD 0.21
Gilead Sciences Inc (GILD) Q1 Adj. EPS USD 1.48 vs. Exp. USD 0.91
IDEX Corp (IEX) Q1 EPS USD 0.91 vs Exp. USD 0.84
Illumina Inc (ILMN) Q2 Adj. EPS USD 0.53 vs. Exp. USD 0.44; boosts year forecast
International Game Technology (IGT) Q1 Adj. EPS USD 0.20 vs. Exp. USD 0.19; reaffirms forecast
Intuitive Surgical Inc (ISRG) Q1 EPS USD 1.13 vs. Exp. USD 2.66; includes deferral of rev. USD 0.21/shr and product litigation charge of USD 0.48/shr
Manhattan Associates Inc (MANH) Q1 Adj. EPS USD 0.26 vs. Exp. USD 0.21
MSA Safety (MSA) Q1 Adj. EPS basic 0.40 vs Exp. USD 0.59
Nabors Industries (NBR) Q1 EPS cont ops USD 0.16 vs Exp. USD 0.14
Packaging Corp of America (PKG) Q1 Adj. EPS USD 1.08 vs Exp. USD 1.00
Ramco-Gershenson Properties Trust (RPT) Q3 Op. FFO USD 0.30 vs. Exp. USD 0.30
Skyworks Solutions Inc (SWKS) Q2 Adj. EPS USD 0.62 vs. Exp. USD 0.59
Torchmark Corp (TMK) Q4 EPS USD 1.52 vs. Exp. USD 1.51
Total System Services Inc (TSS) Q1 Adj. Cash EPS USD 0.38 vs. Exp. USD 0.43; reaffirms forecast for year Adj. EPS
Unisys Corp (UIS) Q1 Adj. Loss/Shr USD 0.74 vs. Exp. USD 0.87
ViewPoint Financial Group Inc (VPFG) Q1 EPS USD 0.20 vs. Exp. USD 0.20
VMware Inc (VMW) Q3 Adj. EPS USD 0.80 vs. Exp. USD 0.79
Woodward Inc (WWD) Q2 EPS USD 0.66 vs. Exp. USD 0.50
WR Berkley Corp (WRB) Q1 operating EPS USD 1.00 vs. Exp. USD 0.79
Yum! Brands (YUM) Q1 EPS ex-items USD 0.87 vs Exp. USD 0.84

12:41 FX Flows

RANsquawk sources note US leveraged funds selling AUD, unconfimed; AUD trades near intra-day lows

'RANsquawk source' - Signifies information that has not been formally tested through traditional journalistic channels and therefore is to be treated as unsubstantiated. Any interpretation of the talk is taken at the readers own risk and is a representation of the rumours within the market place and never generated by ourselves.

12:39 Market Analysis

Following the CBOT pit open, treasuries, bunds and gilts all trade around best levels after weakness in equities and flattening of the German and US curve evident with under-performance in the front end