ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Markit services PMI for December at 9:45--consensus 53.6
ISM non-manufacturing survey for December at 10:00--consensus 58.0
Factory orders for November at 10:00--consensus down 0.5%
ANALYST RESEARCH
Upgrades
Anthem (ANTM) upgraded to Buy from Hold at Deutsche Bank
Becton dikkinson (BDX) upgraded to Buy from Neutral at BofA/Merrill
C.H. Robinson (CHRW) upgraded to Neutral from Sell at Goldman
Constellation Brands (STZ) upgraded to Buy from Neutral at Goldman
Delhaize (DEG) upgraded to Buy from Neutral at BofA/Merrill
El Pollo Loco (LOCO) upgraded to Buy from Hold at Jefferies
FedEx (FDX) upgraded to Buy from Neutral at UBS
Flagstar Bancorp (FBC) upgraded to Outperform from Market Perform at FBR Capital
Humana (HUM) upgraded to Hold from Sell at Deutsche Bank
Huntington Ingalls (HII) upgraded to Buy from Neutral at BofA/Merrill
Infoblox (BLOX) upgraded to Buy from Hold at Deutsche Bank
Oracle (ORCL) upgraded to Overweight from Neutral at Piper Jaffray
Public Storage (PSA) upgraded to Neutral from Sell at Goldman
Rockwell Collins (COL) upgraded to Neutral from Underperform at BofA/Merrill
Siliconware Precision (SPIL) upgraded to Outperform from Neutral at Credit Suisse
Workday (WDAY) upgraded to Overweight from Equal Weight at Barclays
Downgrades
Aerohive (HIVE) downgraded to Neutral from Buy at Goldman
Associated Estates (AEC) downgraded to Hold from Buy at MLV & Co.
BroadSoft (BSFT) downgraded to Neutral from Buy at Goldman
CGG SA (CGG) downgraded to Sell from Neutral at UBS
CSX (CSX) downgraded to Neutral from Buy at UBS
Domino's Pizza (DPZ) downgraded to Hold from Buy at Jefferies
General Electric (GE) downgraded to Hold from Buy at Deutsche Bank
H.B. Fuller (FUL) downgraded to Hold from Buy at KeyBanc
Infinera (INFN) downgraded to Buy from Conviction Buy at Goldman
LogMeln (LOGM) downgraded to Underweight from Equal Weight at Barclays
MGM China (MCHVF) downgraded to Hold from Buy at Deutsche Bank
Mallinckrodt (MNK) downgraded to Market Perform from Outperform at BMO Capital
Melco Crown (MPEL) downgraded to Neutral from Buy at BofA/Merrill (yesterday)
NetSuite (N) downgraded to Equal Weight from Overweight at Barclays
Noodles & Company (ndls) downgraded to Neutral from Buy at UBS
Norfolk Southern (NSC) downgraded to Neutral from Buy at UBS
QIAGEN (QGEN) downgraded to Underperform from Neutral at BofA/Merrill
Roka Bioscience (ROKA) downgraded to Underperform from Neutral at BofA/Merrill
Sensata (ST) downgraded to Sector Perform from Outperform at RBC Capital
Varonis (VRNS) downgraded to Equal Weight from Overweight at Barclays
Initiations
Alexion (ALXN) initiated with an Overweight at Barclays
Amgen (AMGN) initiated with an Equal Weight at Barclays
Aon plc (AON) initiated with a Buy at Jefferies
Avolon (AVOL) initiated with a Buy at Citigroup
Avolon (AVOL) initiated with an Outperform at Cowen
Avolon (AVOL) initiated with an Outperform at Wells Fargo
Biogen (BIIB) initiated with an Overweight at Barclays
Celgene (CELG) initiated with an Equal Weight at Barclays
Ellie Mae (ELLI) initiated with a Buy at Roth Capital
Encana (ECA) reinstated with an Equal Weight at Barclays
Gilead (GILD) initiated with an Overweight at Barclays
Hortonworks (HDP) initiated with a Buy at Goldman
Hortonworks (HDP) initiated with an Outperform at Pacific Crest
Hortonworks (HDP) initiated with an Outperform at RBC Capital
James River Group (JRVR) initiated with a Buy at UBS
James River Group (JRVR) initiated with an Outperform at FBR Capital
KEYW (KEYW) initiated with an In-Line at Imperial Capital
Marsh & McLennan (MMC) initiated with a Hold at Jefferies
Medivation (MDVN) initiated with an Overweight at Barclays
NPS Pharmaceuticals (NPSP) initiated with an Overweight at Barclays
New Relic (NEWR) initiated with a Neutral at UBS
Palo Alto (PANW) initiated with an Outperform at RBC Capital
Pharmacyclics (PCYC) initiated with a Buy at BTIG
Regeneron (REGN) initiated with an Equal Weight at Barclays
Sunesis (SNSS) initiated with a Buy at BTIG
Towers Watson (TW) initiated with a Buy at Jefferies
United Therapeutics (UTHR) initiated with a Neutral at BTIG
United Therapeutics (UTHR) initiated with an Equal Weight at Barclays
Vertex (VRTX) initiated with a Buy at BTIG
Vertex (VRTX) initiated with an Equal Weight at Barclays
Western Union (WU) initiated with a Hold at Stifel
Workiva (WK) initiated with a Buy at Stifel
Workiva (WK) initiated with an Outperform at RW Baird
Workiva (WK) initiated with an Overweight at Morgan Stanley
Xoom (XOOM) initiated with a Buy at Stifel
Zillow (Z) initiated with a Market Perform at Cowen
COMPANY NEWS
Xoom (XOOM) determined that it has been the victim of a criminal fraud. The company also said that Matt Hibbard resigned as CFO, effective immediately
Facebook (FB) said it acquired speech recognition startup Wit.ai
Johnson & Johnson (JNJ) announced the start of a Phase 1, first-in-human clinical trial of a preventive Ebola vaccine in development at its Janssen Pharmaceutical
Companies
Salix (SLXP) CEO Carolyn Logan to retire, effective January 30. Tom D’Alonzo will be appointed acting CEO, and William Bertrand, Jr., the company’s SVP and General Counsel, will be appointed acting COO, pending the company’s hiring of a permanent CEO
EARNINGS
Companies that missed consensus earnings expectations include:
Peak Resorts (SKIS), Ennis (EBF)
SciClone (SCLN) backs FY14 EPS view of 64c-68c, one estimate 56c. The company sees FY14 revenue $152M-$158M, one estimate $151.2M
Xoom (XOOM) raises Q4 revenue view to $43.1M-$43.6M from $41M-$43M, consensus $41.8M
Helix Energy (HLX) backs FY14 EPS view $1.85-$1.95, consensus $1.95
InspireMD (NSPR) reports Q4 revenue approximately $900,000, consensus $700,000
NEWSPAPERS/WEBSITES
NPS Pharmaceuticals (NPSP) hires Goldman (GS) to help find buyer, WSJ reports (SHPG, ABBV)
Verizon (VZ) contacts AOL (AOL) regarding possible takeover or venture, Bloomberg reports
Coach (COH) close to deal to purchase Stuart Weitzman for about $600M, WSJ reports
Morgan Stanley (MS) client data theft probed by FBI, Reuters reports
Toyota (TM) to offer almost 6K FCV patents for free, Nikkei reports
RBS (RBS) deputy CEO leaves lender early, Telegraph reports
Gap (GPS) stock is 'on sale,' Barron's contends
SYNDICATE
Alder Biopharmaceuticals (ALDR) files to sell 4M shares of common stock
Avalanche Biotechnologies (AAVL) files to sell 2M shares of common stock
Cempra (CEMP) files to sell $100M in common stock
Cerus (CERS) intends to offer common stock
Five Prime (FPRX) files to sell $75M in common stock
Karyopharm (KPTI) announces proposed offering of 3M shares of common stock
Synageva (GEVA) files to sell 2.5M shares of common stock
