>>> Advanced Micro analyst color on quarter (12.87)

Advanced Micro analyst color on quarter
Stifel: They think AMD's revenue performance may be catching up to its share price valuation but are waiting for evidence of significant GM expansion to justify the earnings valuation. Management's full year 2018 guidance for double digit revenue growth, greater than 36% GM and OpEx at ~28% of revenue is also above their prior estimates.
Mizuho: Data center EPYC is ramping with H-P and MSFT, though they believe still at an early stage. They are maintaining their Buy rating and $17 PT. While AMD is showing CCG share gains and revenue upside, investor focus should be on DC traction and GM improvement in the mid to Long term.
B. Riley FBR: They like PC, server, and graphics chip laterals for Intel and Nividia. However, against the recent market and sector tape and with shares initially sliding 5% in a "sell the news" reaction and then rallying back to +1.0%, it may take some patience before the plusses they see are rewarded. Surging pricing shows demand outstripping supply in a seasonally-soft period, though mgmt hopes to replenish channel inventory sometime later this year.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:
  • SMCI -15.8%, JNPR -10.1%, CACC -8.3%, ERIC -4.9%, ALGN -3.4%, FLWS -3.4%, TXT -3%, CHKP -2.4%, CATY -1.2%, CPLP -1.2%, ING -1%, .
Other news:
  • BLCM -38.5% (received FDA notice that U.S. studies of BPX-501 have been placed on clinical hold following three cases of encephalopathy deemed as possibly related), MYSZ -15.8% (proposed public offering of common stock)
  • CERS -7.6% (commences registered underwritten public offering of $50 mln of its common stock)
  • SYRS -6.6% (prices offering of 4,188,481 shares of common stock at $9.55 per share)
  • ATEN -3.7% (postpones earnings announcement / call originally scheduled for Feb. 8 due to Audit Committee investigation)
Analyst comments:
  • AYX -3.1% (downgraded to Neutral from Buy at Goldman)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:
  • SFLY +20.5%, KNX +10.3%, MTOR +8.3%, PBI +7.8%, EA +7.2%, BSBR +5.5%, LN +5.5%, BA +5.4%, SRCI +5.3%, AVGO +5.2%, XRX +3.5%, MOD +3.3%, AMD +2.7%, AVY +2.3%, ILMN +2%, MT +1.6%, SAP +1.5%, ANTM +1.5%, CA +1.4%, ADP +1.4%, DHI +1.4%, EPD +1.4%, TMO +1.4%, BOFI +1.3%, WEC +1.3%, LLY +1.1%, IR +0.8%, NDAQ +0.8%
M&A news:
  • CASC +68.5% (to be acquired by Seattle Genetics (SGEN) for $10.00/share in cash, or ~$614 mln)
  • RHT +1.9% (Red Hat to acquire CoreOS for $250 mln), .
Other news:
  • KONE +69.9% (reported prelim 2017 results - with delayed Annual Report; also agreed to purchase interests of LK Technology and subsidiaries)
  • IMMR +6.1% (enters into multi-year patent license agreement with Marquardt )
  • CSLT +4.3% (modestly rebounding -- with boost from upgrade after the close at Cantor Fitzgerald following today's sell-off)
  • WING +4.1% (Wingstop declares $3.17 per share special dividend: Closes on a new $250 million senior secured credit facility)
  • CARA +4.1% (initiates Phase 3 efficacy trial of KORSUVA)
  • TRI +2.8% (Thomson Reuters confirms Blackstone to acquire 55% interest in F&R and Full-year 2017 results expected to meet or exceed guidance), X +2% (attributed to positive mention on CNBC Fast Money)
  • RTN +1.8% (awarded $2.3 bln Army contract )
  • MOBL +1.7% (extending today's move higher)
  • AMPE +1.7% (continued strength)
  • TTWO +1.5% (following EA results)
  • ATVI +1.4% (following EA results)
  • CIFS +1.1% (signs a cooperation agreement with Zhonghuhang Information Technology to develop an Overseas Student Registration System and provide comprehensive consulting services for the Convey), .
Analyst comments:
  • IMGN +5.2% (initiated with a Buy at H.C. Wainwright; tgt $18)
  • CSLT +4.3% (upgraded to Overweight at Cantor Fitzgerald)
  • FL +3.4% (upgraded to Outperform from Perform at Oppenheimer)
  • FIT +2.7% (upgraded to Hold from Sell at Stifel)
  • UAL +1.5% (upgraded to Outperform from Mkt Perform at Bernstein)
  • BIIB +1.1% (upgraded to Buy at UBS)
  • AAL +0.8% (upgraded to Outperform from Mkt Perform at Bernstein)

>>> Broadcom sees Q1 results ahead of estimates, offers upside Q2 guidance (240

Broadcom sees Q1 results ahead of estimates, offers upside Q2 guidance
  • Q1: Co sees EPS of ~$5.10 vs $4.95 Capital IQ Consensus Estimate, sees revs of $5.3-5.35 bln vs $5.30 bln Capital IQ Consensus Estimate
  • Q2: Co sees revs of $4.925-5.075 bln vs $4.91 bln Capital IQ Consensus Estimate
  • "Our first quarter results are tracking towards the higher end of our expectations as we continue to execute on our business model," said Hock Tan, President and CEO of Broadcom Limited. "Looking ahead to our second fiscal quarter, strong data center demand for our wired and enterprise storage products and a seasonal pick up in broadband is expected to offset a greater than seasonal decline in wireless. As a result, we currently forecast on a normalized 13-week quarter basis, that second quarter revenue will be roughly flat to the previous quarter.

>>> Early premarket gappers

Early premarket gappers
Gapping up: KONE +44.2%, SFLY +21%, IMMR +8.5%, EA +7.8%, KNX +7%, PBI +6.6%, LN +5.5%, BSBR +5%, CSLT +4.3%, WING +4.1%, CA +4.1%, AVY +3.6%, MOD +3.3%, SRCI +3.2%, TRI +2.8%, ILMN +2.8%, AMD +2.7%, XRX +2.5%, DHI +2.5%, LLY +2.2%, MOBL +1.7%, AMPE +1.7%, ATVI +1.7%, X +1.6%, TTWO +1.5%, ANTM +1.5%, TMO +1.5%, RHT +1.3%, WEC +1.3%, BOFI +1.2%, SAP +1.2%, AXAS +0.9%, NDAQ +0.8%,

Gapping down: BLCM -33.2%, MYSZ -15%, SMCI -13.2%, JNPR -9.7%, SYRS -6.2%, ERIC -5.8%, CERS -5.7%, CHKP -4.2%, CACC -3.4%, ALGN -2.7%, TXT -2%, CATY -1.2%, ING -0.9%, CHRW -0.5%, EXP -0.5%

>>> Boeing beats by $0.16, beats on revs; guides FY18 EPS above consensus, revs

Boeing beats by $0.16, beats on revs; guides FY18 EPS above consensus, revs above consensus (337.71)
  • Reports Q4 (Dec) earnings of $3.04 per share, excluding non-recurring items, $0.16 better than the Capital IQ Consensus of $2.88; revenues rose 8.9% year/year to $25.37 bln vs the $24.78 bln Capital IQ Consensus.
    • Total company backlog at quarter-end was $488 billion, up from $474 billion at the beginning of the quarter, and included net orders for the quarter of $40 billion.
  • Co issues upside guidance for FY18, sees EPS of $13.80-14.00, excluding non-recurring items, vs. $11.90 Capital IQ Consensus Estimate; sees FY18 revs of $96-98 bln vs. $93.6 bln Capital IQ Consensus Estimate.
    • Operating cash flow expected to increase to approximately $15.0 billion
    • Commercial deliveries of between 810 and 815
Segments- 2018 Guidance and 2017 Results vs Guidance
  • Commercial Airplanes
    • Deliveries 810-815 (2017 763, guidance was 760-765)
    • Revenue $59.5-60.5 bln (2017 $58.0 bln, guidance was $55.0-56.6 bln)
    • Operating Margin 11.0% (2017 9.4%, guidance was 9.0-9.5%)
  • Defense, Space & Security
    • Revenue $21.5-22.5 (2017 $20.6, guidance was $20.5-21.5 bln)
    • Operating Margin ~11.0% (2017 10.7%, guidance was >10.5%)
  • Global Services
    • Revenue $15.0 - 15.5 (2017 $14.6, guidance was $14.0-14.5 bln)
  • Research & Development ~$3.7 bln (2017 $3.2 bln)
  • Capital Expenditures ~$2.2 bln (2017 $1.7 bln)
  • Pension Expense ~$0.1 bln (2017 $0.4 bln)
  • Effective Tax Rate ~16.0% (2017 16.3%)

>>> Simon Properties reports FFO in-line, misses on revs; guides FY18 FFO below

Simon Properties reports FFO in-line, misses on revs; guides FY18 FFO below consensus (162.61)
  • Reports Q4 (Dec) funds from operations of $3.12 per share, in-line with the Capital IQ Consensus of $3.12; revenues rose 0.1% year/year to $1.43 bln vs the $1.45 bln Capital IQ Consensus.
    • Growth in comparable FFO per diluted share for the three months ended December 31, 2017 was 7.2%.
  • Co issues downside guidance for FY18, sees FFO of $11.90-12.02, excluding non-recurring items, vs. $12.11 Capital IQ Consensus Estimate.

>>> Sirius XM Radio misses by $0.06, reports revs in-line; guides FY18 revs in-l

Sirius XM Radio misses by $0.06, reports revs in-line; guides FY18 revs in-line; board approves additional $2 billion to share repurchase program (5.95)
  • Reports Q4 (Dec) loss of $0.01 per share, $0.06 worse than the Capital IQ Consensus of $0.05; revenues rose 7.7% year/year to $1.4 bln vs the $1.4 bln Capital IQ Consensus.
    • The Company also recorded a decrease of approximately $72 million, or approximately $0.02 per diluted share, in the fair value of its investment in Pandora, reversing the prior quarter's unrealized gains.
    • Self-Pay Net Subscriber Additions of 1.56 Million in 2017.
  • Co issues in-line guidance for FY18, sees FY18 revs of $5.7 bln vs. $5.73 bln Capital IQ Consensus Estimate.
    • Self-pay net subscriber additions of approximately 1 million.
    • Adjusted EBITDA of approximately $2.15 billion, and
    • Free cash flow of approximately $1.5 billion.
  • Board approves additional $2 billion to share repurchase program.
  • "The fourth quarter capped a strong year for SiriusXM and was our best quarter for self-pay subscriber growth in five years. We exceeded all of our 2017 subscriber and financial guidance, even after increasing these targets during the year. I am particularly pleased that we achieved this growth in an environment of slowing auto sales. Earlier this month, we outlined our goals to grow subscribers, revenue and adjusted EBITDA in 2018, and at the Detroit Auto Show, we unveiled with Fiat Chrysler the new Ram 1500, which will soon be available to consumers with our new 360L interface," commented Jim Meyer, Chief Executive Officer, SiriusXM.

>>> Thermo Fisher beats by $0.12, beats on revs, increases quarterly dividend to

Thermo Fisher beats by $0.12, beats on revs, increases quarterly dividend to $0.17/share from $0.15/share; co will provide 2018 guidance on call (214.62)

Reports Q4 (Dec) earnings of $2.79 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $2.67; revenues rose 22.1% year/year to $6.05 bln vs the $5.72 bln Capital IQ Consensus.
In the fourth quarter of 2017, Life Sciences Solutions Segment revenue grew 11% to $1.58 billion, compared with revenue of $1.42 billion in the fourth quarter of 2016.
Results for the Analytical Instruments Segment reflect the acquisition of FEI Company in September 2016. Segment revenue grew 16% to $1.41 billion in the fourth quarter of 2017, compared with revenue of $1.22 billion in the fourth quarter of 2016.
Laboratory Products and Services Segment results reflect the acquisition of Patheon in late August 2017. In the fourth quarter of 2017, segment revenue grew 43% to $2.40 billion, compared with revenue of $1.68 billion in the fourth quarter of 2016