ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Durable goods orders for October at 8:30--consensus down 0.5%
Personal income for October at 8:30--consensus up 0.4%
Consumer spending for October at 8:30--consensus up 0.3%
Jobless claims for week of November 22 at 8:30--consensus 286K
Chicago PMI for November at 9:45--consensus 63.0
University of Michigan consumer sentiment index for November at 9:55--consensus 90.0
Pending home sales index for October at 10:00--consensus up 0.6%
New home sales for October at 10:00--consensus up 0.8% to 470K rate
ANALYST RESEARCH
Upgrades
Brown Shoe (BWS) upgraded to Buy from Neutral at Sterne Agee
Resource Capital (RSO) upgraded to Outperform from Market Perform at JMP Securities
Downgrades
21Vianet (VNET) downgraded to Hold from Buy at Stifel
Cinemark (CNK) downgraded to Hold from Buy at Topeka
Louisiana-Pacific (LPX) downgraded to Underperform from Sector Perform at RBC Capital
U.S. Silica (SLCA) downgraded to Market Perform from Outperform at Wells Fargo
Initiations
Actavis (ACT) reinstated with an Equal Weight at Barclays
Allergan (AGN) reinstated with an Equal Weight at Barclays
BofI Holding (BOFI) initiated with an Outperform at FBR Capital
Engility Holdings (EGL) initiated with a Buy at Drexel Hamilton
Keysight Technologies (KEYS) initiated with an Outperform at RW Baird
MAM Software (MAMS) initiated with a Buy at B. Riley
PennantPark (PNNT) initiated with a Buy at MLV & Co.
Premier (PINC) initiated with a Buy at KeyBanc
Vantiv (VNTV) initiated with a Buy at Topeka
Western Union (WU) initiated with a Hold at Topeka
Zayo Group (ZAYO) initiated with a Buy at Citigroup
Zayo Group (ZAYO) initiated with a Buy at SunTrust
Zayo Group (ZAYO) initiated with a Conviction Buy at Goldman
Zayo Group (ZAYO) initiated with an Outperform at RBC Capital
Zayo Group (ZAYO) initiated with an Outperform at Raymond James
Zayo Group (ZAYO) initiated with an Outperform at Wells Fargo
Zayo Group (ZAYO) initiated with an Overweight at Barclays
COMPANY NEWS
Amazon.com (AMZN) lowers price of unlocked Fire Phone to $199
Amgen (AMGN), AstraZeneca report study of brodalumab met all primary endpoints
Autobytel (ABTL) again concludes not in best interests to pursue sale
BE Aerospace (BEAV) approves separation of business to be known as KLX
Cubic (CUB) raises semi-annual dividend to 13.5c per share from 12c per share
EE confirms Deutsche Telekom (DTEGY), Orange talks with BT Group
Fed says Wells Fargo (WFC) 2014 resolution plan has shortcomings
Glacier Bancorp (GBCI) increases dividend 5.5% to 18c
H.B. Fuller (FUL) approves exit plan related to organizational restructuring project
Hain Celestial (HAIN) announces 2 for 1 stock split
Herbalife (HLF) CEO Michael Johnson raises personal share holding in company
Icahn raises stake in Hertz (HTZ) to 10.77% from 8.67%
Infoblox (BLOX) names Jesper Andersen as CEO
McCormick (MKC) increases dividend to 40c from 37c
Medivation (MDVN) to names Joseph Lobacki as Chief Commercial Officer
Microsoft (MSFT) cuts Xbox price for limited time to $329
Pratt & Whitney awarded $105.49M government contract
QIWI (QIWI) acquires Money.Mail.Ru
Tangoe (TNGO) announces additional $30M share repurchase program
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Ctrip.com (CTRP), Perfect World (PWRD), Cubic (CUB), Infoblox (BLOX), Nimble Storage (NMBL), Analog Devices (ADI)
Companies that missed consensus earnings expectations include:
ReneSola (SOL), Seadrill (SDRL), AeroVironment (AVAV), Hoegh LNG (HMLP), Simulations Plus (SLP), Veeva (VEEV)
Companies that matched consensus earnings expectations include:
China Cord Blood (CO), HP (HPQ)
HP (HPQ) sees FY15 revenue in constant currency flat
HP (HPQ) sees FY15 EPS $3.83-$4.03, consensus $3.95
HP (HPQ) sees Q1 EPS 89c-93c, consensus 93c
Ctrip.com (CTRP) sees Q4 revenue growth approximately 30% YoY, consensus $315.3M
NEWSPAPERS/WEBSITES
Amazon.com (AMZN) to bring Black Friday discounts to China, China Daily says
CBS (CBS) says short term extension for DISH negotiations granted, Bloomberg reports
Danone (DANOY) considering sale of Yakult stake, Bloomberg reports
Microsoft (MSFT) fined $140M by China for tax evasion, Re/code reports
Netflix (NFLX) suing former employee, current Yahoo CIO, Re/code reports
TSMC (TSM) expected to grab 40%-50% of Apple A9 chip orders, DigiTimes reports
Twitter (TWTR) may want to buy Bieber-backed selfie app Shots, CNBC says
SYNDICATE
Aehr Test Systems (AEHR) raises $2.6M in a private placement of common stock
Frank's International (FI) files automatic mixed securities shelf
Plains GP Holdings (PAGP) files to sell 402.5M shares for shareholders
