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>>> Up
>>> Down
>>> Reiterate
>>> Initiation
Gapping up
In reaction to strong earnings/guidance/SSS: NSPH +37.9%, MGCD +13.3%, (also reports unresolved manufacturer issue), ZUMZ +11.1%, (Zumiez reports December comparable sales -8.9% vs -13.8% Retail Metrics consensus; raises Q4 outlook based primarily on better than expected sales), MG +7.2%, FRAN +2.8%, GBX +1.9%, PLCE +1.3%, M +1.1%, (Macy's reports November and December comp store sales declined 4.7% y/y; Lowers 2015 EPS guidance), QUAD +0.8%
M&A news: EZCH +2.8% (Raging Capital supports transaction with Mellanox (MLNX))
Select gold/silver stocks trading higher: HMY +9.8%, GFI +3.3%, ABX +2.3%, NEM +2.2%, AEM +2.1%, GOLD +2%, GDX +1.5%, PAAS +1.3%, .
Other news: CRDC +42.9% (amended license agreement with Intuitive Surgical (ISRG)), DVAX +29.8% (reports top line results of Phase 3 HEPLISAV-B study; Both co-primary endpoints were met), BIND +14.7% (Presents Complete Data on Clinical Activity of BIND-014 in Patients with Metastatic Castration-Resistant Prostate Cancer), QURE +12% (announced it will release topline results from its Hemophilia B Phase I/II gene therapy low-dose cohort clinical trial tomorrow morning), MSTX +7% (provides business update, Enrollment in largest-ever interventional Phase 3 trial in sickle cell disease has surpassed 90%), ZIXI +2.7% (approves $15 mln share repurchase program), DNN +2.7% (announced that preparations for its 2016 uranium exploration programs in the Athabasca Basin have commenced and that exploration drilling is scheduled to begin on January 12), CCO +2.5% (following late move higher on LAMR asset interest)
In reaction to strong earnings/guidance/SSS: NSPH +37.9%, MGCD +13.3%, (also reports unresolved manufacturer issue), ZUMZ +11.1%, (Zumiez reports December comparable sales -8.9% vs -13.8% Retail Metrics consensus; raises Q4 outlook based primarily on better than expected sales), MG +7.2%, FRAN +2.8%, GBX +1.9%, PLCE +1.3%, M +1.1%, (Macy's reports November and December comp store sales declined 4.7% y/y; Lowers 2015 EPS guidance), QUAD +0.8%
M&A news: EZCH +2.8% (Raging Capital supports transaction with Mellanox (MLNX))
Select gold/silver stocks trading higher: HMY +9.8%, GFI +3.3%, ABX +2.3%, NEM +2.2%, AEM +2.1%, GOLD +2%, GDX +1.5%, PAAS +1.3%, .
Other news: CRDC +42.9% (amended license agreement with Intuitive Surgical (ISRG)), DVAX +29.8% (reports top line results of Phase 3 HEPLISAV-B study; Both co-primary endpoints were met), BIND +14.7% (Presents Complete Data on Clinical Activity of BIND-014 in Patients with Metastatic Castration-Resistant Prostate Cancer), QURE +12% (announced it will release topline results from its Hemophilia B Phase I/II gene therapy low-dose cohort clinical trial tomorrow morning), MSTX +7% (provides business update, Enrollment in largest-ever interventional Phase 3 trial in sickle cell disease has surpassed 90%), ZIXI +2.7% (approves $15 mln share repurchase program), DNN +2.7% (announced that preparations for its 2016 uranium exploration programs in the Athabasca Basin have commenced and that exploration drilling is scheduled to begin on January 12), CCO +2.5% (following late move higher on LAMR asset interest)
Gapping down
In reaction to disappointing earnings/guidance: CLBS -32.1%, (provides 2015 and 2016 revenue guidance; announces an increased focus of its strategic priorities ), FINL -16.2%, RECN -6%, COST -2.5%, WBA -2%, KBH -1.6%, SIG -1.4%,
M&A news: ATML -8.3% (Bloomberg reporting that Microchip (MCHP) is reconsidering its interest in Atmel amid their continued business struggles), .
Select China related names showing weakness: JKS -6.7%, BABA -5%, CSIQ -4.7%, SOHU -4.7%, JD -4.6%, BITA -4.6%, BIDU -4.6%, CMCM -4.6%, WBAI -4.4%, SFUN -4.3%, JMEI -4.2%, YY -3.9%
Select metals stocks trading lower: VALE -6.5%, BBL -6.3%, RIO -5.1%, MT -4.9%, FCX -4.4%, X -3.5%, AA -3.4%
Select oil/gas related names showing early weakness: WLL -9%, SSL -7.5%, BHP -6.3%, SDRL -6%, BP -5.2%, RDS.A -5.2%, PBR -4.8%, RIG -4.3%, KMI -3.9%, STO -3.5%, SLB -2.7%
Other news: TLOG -67.6% (announces that its Phase 2 study of birinapant co-administered with azacitidine in first line higher risk patients suffering from myelodysplastic syndromes did not demonstrate any clinical benefit over placebo), EPZM -23.3% (prices offering of 13,333,334 shares of its common stock at $9.00 per share), ARDX -15.1% (commences an underwritten public offering of up to $75 mln of shares of its common stock, updates guidance on the projected timing of its clinical trials for its lead product candidate, tenapanor ), GALE -13.2% (to offer shares of its common stock and warrants to purchase its common stock in an underwritten public offering), AKBA -11.5% (prices 7,250,000 shares of common stock at $9.00 per share), SAGE -6.8% (prices 3,157,894 shares of its common stock at $47.50 per share), ADMS -6.4% (prices offering 2,500,000 shares of its common stock at $23.00 per share), CEMP -6.2% (prices its downsized underwritten public offering of ~4.17 mln shares of its common stock at $24.00/share), PSDV -5.3% (proposed a common stock offering for an undisclosed amount), ACAD -4.6% (prices offering of 10,344,827 shares of its common stock at $29.00 per share), PRTA -2.9% (prices underwritten public offering of 2.25 mln of its ordinary shares at $53.00/share), ERI -2.3% (announced the departure of its COO and CFO)
Analyst comments: EXPD -7.8% (downgraded to Sell at UBS), EVDY -4.9% (downgraded to Hold from Buy at Stifel), ILMN -3.9% (downgraded to Market Perform from Outperform at Wells Fargo), PAYX -3.8% (downgraded to Underperform from Neutral at BofA/Merrill), APC -3.7% (downgraded to Hold from Buy at Deutsche Bank), CMG -3.2% (target lowered to $450 from $500 at Wedbush), HPQ-3% (downgraded to Market Perform from Outperform at Wells Fargo), AAPL -2.5% (target lowered to $130 at RBC Capital Mkts), BRCM -1.5% (downgraded to Mkt Perform from Outperform at Bernstein)
In reaction to disappointing earnings/guidance: CLBS -32.1%, (provides 2015 and 2016 revenue guidance; announces an increased focus of its strategic priorities ), FINL -16.2%, RECN -6%, COST -2.5%, WBA -2%, KBH -1.6%, SIG -1.4%,
M&A news: ATML -8.3% (Bloomberg reporting that Microchip (MCHP) is reconsidering its interest in Atmel amid their continued business struggles), .
Select China related names showing weakness: JKS -6.7%, BABA -5%, CSIQ -4.7%, SOHU -4.7%, JD -4.6%, BITA -4.6%, BIDU -4.6%, CMCM -4.6%, WBAI -4.4%, SFUN -4.3%, JMEI -4.2%, YY -3.9%
Select metals stocks trading lower: VALE -6.5%, BBL -6.3%, RIO -5.1%, MT -4.9%, FCX -4.4%, X -3.5%, AA -3.4%
Select oil/gas related names showing early weakness: WLL -9%, SSL -7.5%, BHP -6.3%, SDRL -6%, BP -5.2%, RDS.A -5.2%, PBR -4.8%, RIG -4.3%, KMI -3.9%, STO -3.5%, SLB -2.7%
Other news: TLOG -67.6% (announces that its Phase 2 study of birinapant co-administered with azacitidine in first line higher risk patients suffering from myelodysplastic syndromes did not demonstrate any clinical benefit over placebo), EPZM -23.3% (prices offering of 13,333,334 shares of its common stock at $9.00 per share), ARDX -15.1% (commences an underwritten public offering of up to $75 mln of shares of its common stock, updates guidance on the projected timing of its clinical trials for its lead product candidate, tenapanor ), GALE -13.2% (to offer shares of its common stock and warrants to purchase its common stock in an underwritten public offering), AKBA -11.5% (prices 7,250,000 shares of common stock at $9.00 per share), SAGE -6.8% (prices 3,157,894 shares of its common stock at $47.50 per share), ADMS -6.4% (prices offering 2,500,000 shares of its common stock at $23.00 per share), CEMP -6.2% (prices its downsized underwritten public offering of ~4.17 mln shares of its common stock at $24.00/share), PSDV -5.3% (proposed a common stock offering for an undisclosed amount), ACAD -4.6% (prices offering of 10,344,827 shares of its common stock at $29.00 per share), PRTA -2.9% (prices underwritten public offering of 2.25 mln of its ordinary shares at $53.00/share), ERI -2.3% (announced the departure of its COO and CFO)
Analyst comments: EXPD -7.8% (downgraded to Sell at UBS), EVDY -4.9% (downgraded to Hold from Buy at Stifel), ILMN -3.9% (downgraded to Market Perform from Outperform at Wells Fargo), PAYX -3.8% (downgraded to Underperform from Neutral at BofA/Merrill), APC -3.7% (downgraded to Hold from Buy at Deutsche Bank), CMG -3.2% (target lowered to $450 from $500 at Wedbush), HPQ-3% (downgraded to Market Perform from Outperform at Wells Fargo), AAPL -2.5% (target lowered to $130 at RBC Capital Mkts), BRCM -1.5% (downgraded to Mkt Perform from Outperform at Bernstein)
Fed's Lacker (hawk): More aggressive rate increases would be in order if inflation moves rapidly back toward 2%
- Inflation has been weak due to crude prices and the strong USD, reiterates inflation to rise back to 2% over the medium term
- Reiterates that future FOMC interest rate hikes will be gradual
- If inflation remains too low, rates would be more gradual. If inflation heats up, rate hikes would come more quickly
- Expected GDP growth rate will drive more job market gains. Sees US GDP around +2.2%
- Would not be surprised if future growth rate cooled off
Constellation Brands beats by $0.12, beats on revs; raises FY16 EPS above consensus
- Reports Q3 (Nov) earnings of $1.42 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $1.30; revenues rose 6.4% year/year to $1.64 bln vs the $1.62 bln Capital IQ Consensus.
- Consolidated comparable basis operating income increased 15 percent.
- Beer net sales increased eight percent, primarily due to volume growth. Beer depletions grew more than 16 percent, reflecting strong consumer demand for the beer portfolio.
- Wine and spirits net sales on an organic constant currency basis increased three percent. This primarily reflects favorable mix.
- Co issues upside guidance for FY16, raises EPS to $5.30-5.40 from $5.200-5.20, excluding non-recurring items, vs. $5.19 Capital IQ Consensus; raises FCF to $475-525 mln.