>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: CSLT -11.5%, NLST -11.5%, (announces common stock offering, sees Q4 below estiamtes), KEYW -9.2%, EOG -7.8%, CYBE -6.5%, CDE -5.8%, SCTY -5.2%, CBB -4.5%, REXX -4.1%, LINE -3.9%, BGS -3.6%, YUME -3.4%, SUNE -2.9%, VNDA -2.7%, TS -2.6%, DAVE -2.6%, DAN -2.5%, DENN -2.3%, AIMC -2.1%, RGLS -1.5%,PWR -1.4%, PCYC -1.3%, REMY -1.1%, AGI -1%

Select oil/gas related names showing early weakness: OAS -4.9%, WLL -4.7%, GDP -4.6%, SD -4.3%, SDRL -3.6%, STO -3.6%, PWE -3.3%, PBR -3.3%, WTI -3.1%, OXY -2.4%, TOT -2.3%, SLB -2.3%, COP -2.3%, HAL -2.1%, RIG -2.1%, CRZO -2%, CHK -1.9%

Other news: OCRX -20% (announces preliminary topline results from Phase 2a investigator-sponsored study evaluating OCR-002; data demonstrated a favorable safety profile), NLST -11.5% (priced an underwritten public offering of 7,692,308 shares of its common stock at a price to public of $1.30 per share), GENE -5% (cont strength), NGL -2.3% (announces decision to increase the size of its Grand Mesa Pipeline to a 20 inch capacity design; capable of transporting over 200K barrels/day), ACT -2.2% (files mixed securities shelf offering), ANGI -2.1% (after 60% jump yesterday following earnings), TI -1.1% (may buy remaining Telecom SpA stake, according to Bloomberg)

Analyst comments: PCYC -1.3% (downgraded to Neutral from Overweight at JP Morgan), PLCE -1.1% (downgraded to Hold from Buy at Maxim Group
)

>>> Wal-Mart beats by $0.07, reports revs in-line; guides Q1 EPS below consensus

Wal-Mart beats by $0.07, reports revs in-line; guides Q1 EPS below consensus; guides FY16 EPS below consensus, lowers rev guidance

Reports Q4 (Jan) adj. earnings of $1.61 per share, $0.07 better than the Capital IQ Consensus of $1.54; total sales rose 1.4% year/year to $130.65 bln vs the $131.83 bln consensus.
  • U.S. Q4 comparable store sales +1.5% vs 0-1% guidance (-0.4% Q4 last year); WMT reports Sam's Club Q4 comparable store sales of +2% vs 0-2% guidance (excluding fuel); Neighborhood Market format comps +7.7%.
Co issues downside guidance for Q1, sees EPS of $0.95-1.10 vs. $1.14 Capital IQ Consensus. Co sees U.S. Q1 comparable store sales +1-2% and Sam's Club comparable store sales +1-2%.

Co issues downside guidance for FY16, sees EPS of $4.70-5.05 vs. $5.20 Capital IQ Consensus; lowers FY16 revs to +1-2% (from +2-4%) to ~$487-492 bln vs. $495.48 bln Capital IQ Consensus.
  • If currency exchange rates remain where they are today, this would cause a negative impact to fiscal year 2016 net sales of ~$10 billion, as well as a negative impact on operating income of around $0.10 per share.
  • "Given the investments we're making in our worldwide e-commerce initiatives and in our associates through higher wages and training, we expect operating income to be pressured in fiscal 2016. We will invest ~$0.02 per share in the first quarter and ~ $0.20 per share for the full year in the new wage structure, comprehensive associate training and educational programs. Our incremental investment in global e-commerce initiatives will range between $0.06 and $0.09 per share this year.

>>> Facebook - Cowen reiterates Outperform rating, price target $91

Cowen reiterates Outperform rating, price target $91 
- reiterates as Top '15 Picks with 23-36% upside based on Firm's SOTP analysis- Firm notes that Instagram is a valuable asset for FB given its large, fast-growing and highly engaged user base that's drawing significant advertiser interest per our recent social user and ad buyer surveys.
- Firm's work yields higher confidence in their Instagram revenue estimates rising from $0.7BN to $5.8BN '15-'20.

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: PAL +13.7%, ASTI +12.9%, TNK +11.9%, BJRI +10.9%, BBW +7.6%, SIX +5.8%, IPAS +5.6%, (also declared its commitment to remain independent and announced Gary Griffiths as chief executive officer and Patricia Hume as the newly established position of chief commercial officer), SNPS +5.2%, SGNT +5.2%, AVG +4.5%, ATRO +4.5%,STAR +4.5%, AYR +4.1%, TRN +3.7%, TILE +3.6%, MAR +3.5%, TMUS +3.5%, NVMI +3.4%, XPO +3.1%, ABX +3.1%, DRII +2.8%, IPI +2.8%, DRII +2.8%, SCG +2.5%, TK +2.4%, ARIA +2.2%, CRMT +2%, IDA +1.8%, MIC +1.6%, UIHC +1.1%, (also following late sell-off), LOPE +1.1%, HRL +0.9%, THRX +0.8%, DTV +0.8%

M&A news: DLPH +1.9% (announces definitive agreement to sell thermal business to MAHLE)

Select airline related names showing strength: VA +2.6%, DAL +2.1%, AAL +1.8%, LUV +1.7%, UAL +1.5%, HA +1.5%, ALK +1.5%

Select metals/mining stocks trading higher: HMY +5%, KGC +3.2%, IAG +3.0%, GFI +2%, SLV +1.3%, GDX +1.3%, AG +1.3%, EGO +1.1%

Other news: TTPH +12.3% (attributed to LA Times report on 'superbug' CRE that has infected 2 residents of California), EXEL +8.1% (FDA grants EXEL and Genentech's Cobimetinib Priority Review for use in combination with Zelboraf in advanced melanoma), CAPN +7.9% (cont strength), CYTX +5.1% (cont strength), FL +1.9% (approves new $1 billion share repurchase program, a 67% increase; Approves $220 million capital expenditure program for 2015; also increases quarterly dividend to $0.25 from $0.22/share), NBG +1.3% (cont vol with Greece/Eu talks), MNKD +1.1% (following late spike)

Analyst comments: EPRS +6.1% (initiated with a Outperform at Wedbush), SNY +1.3% (upgraded to Buy from Neutral at BofA/Merrill), HOLX +1.2% (upgraded to Buy from Hold at Canaccord Genuity), COH +0.9% (upgraded to Buy from Hold at Topeka Capital Markets), RCPT +0.7% (target raised to $140 from $125 at Credit Suisse; Outperform)