ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
NAHB housing market index for January at 10:00--consensus 58
ANALYST RESEARCH
Upgrades
Altria Group (MO) upgraded to Outperform from Market Perform at Wells Fargo
Avery Dennison (AVY) upgraded to Overweight from Equal Weight at Barclays
BJ's Restaurants (BJRI) upgraded to Buy from Hold at KeyBanc
Banco Bilbao (BBVA) upgraded to Buy from Neutral at Citigroup
C.R. Bard (BCR) upgraded to Neutral from Underweight at JPMorgan
CME Group (CME) upgraded to Buy from Neutral at Citigroup
Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank
Carrizo Oil & Gas (CRZO) upgraded to Buy from Hold at KeyBanc
Copa Holdings (CPA) upgraded to Overweight from Neutral at JPMorgan
Exelon (EXC) upgraded to Outperform from Market Perform at Wells Fargo
Federal Signal (FSS) upgraded to Buy from Neutral at Global Hunter
Fluidigm (FLDM) upgraded to Outperform from Market Perform at Cowen
MedAssets (MDAS) upgraded to Buy from Hold at Evercore ISI
Micron (MU) upgraded to Positive from Neutral at Susquehanna
Rockwell Collins (COL) upgraded to Overweight from Equal Weight at Barclays
Starz (STRZA) upgraded to Overweight from Equal Weight at Morgan Stanley
T-Mobile (TMUS) upgraded to Conviction Buy from Buy at Goldman
Teck Resources (TCK) upgraded to Neutral from Underperform at BofA/Merrill
Tiffany (TIF) upgraded to Outperform from Market Perform at Wells Fargo
Vermilion Energy (VET) upgraded to Outperformer from Sector Performer at CIBC
Watsco (WSO) upgraded to Neutral from Sell at Goldman
Downgrades
Archer Daniels (ADM) downgraded to Underweight from Neutral at JPMorgan
Ball Corp. (BLL) downgraded to Equal Weight from Overweight at Barclays
CTC Media (CTCM) downgraded to Sell from Neutral at Goldman
Cache (CACH) downgraded to Neutral from Buy at B. Riley
Chubb (CB) downgraded to Neutral from Buy at UBS
Express Scripts (ESRX) downgraded to Neutral from Buy at UBS
Fossil (FOSL) downgraded to Neutral from Overweight at Piper Jaffray
GOL Linhas (GOL) downgraded to Sell from Neutral at Goldman
Intel (INTC) downgraded to Underperform from Market Perform at JMP Securities
Ivanhoe Mines (IVN) downgraded to Neutral from Buy at BofA/Merrill
Jack Henry (JKHY) downgraded to Sell from Hold at Evercore ISI
Luxottica (LUX) downgraded to Outperform from Strong Buy at Raymond James
Northeast Utilities (NU) downgraded to Market Perform from Outperform at Wells Fargo
PAREXEL (PRXL) downgraded to Neutral from Buy at SunTrust
Rexnord (RXN) downgraded to Sell from Neutral at Goldman
Syngenta (SYT) downgraded to Underweight from Equal Weight at Barclays
Taseko Mines (TGB) downgraded to Underperform from Neutral at BofA/Merrill
Time Warner (TWX) downgraded to Equal Weight from Overweight at Morgan Stanley
Viacom (VIAB) downgraded to Underweight from Equal Weight at Morgan Stanley
Wesco Aircraft (WAIR) downgraded to Underweight from Equal Weight at Barclays
Yandex (YNDX) downgraded to Sell from Neutral at Goldman
Zayo Group (ZAYO) downgraded to Neutral from Conviction Buy at Goldman
Initiations
GrubHub (GRUB) initiated with a Sector Perform at RBC Capital
Icahn Enterprises (IEP) initiated with a Neutral at UBS
LendingClub (LC) initiated with a Hold at Stifel
LendingClub (LC) initiated with a Neutral at Citigroup
LendingClub (LC) initiated with a Neutral at Goldman
LendingClub (LC) initiated with a Neutral at Goldman
LendingClub (LC) initiated with an Outperform at BMO Capital
COMPANY NEWS
AT&T (T) reported a $10B charge in Q4 related to pension benefits and network assets
Amazon (AMZN) to produce original movies for theaters, Prime Instant Video
FDA removed partial clinical hold for CytRx's (CYTR) aldoxorubicin clinical trials
Twitter (TWTR) acquired ZipDial, terms not disclosed
Mosaic (MOS) expects 'further business strength' into 2015
The Director of the Serious Fraud Office closed the SFO's investigation into the sale of Autonomy to the Hewlett-Packard in 2011. In respect of some aspects of the allegations, the SFO has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Baker Hughes (BHI), First Defiance Financial (FDEF)
Companies that missed consensus earnings expectations include:
iGATE (IGTE), Mercantile Bank (MBWM), Regions Financial (RF), New Oriental Education (EDU)
Michaels (MIK) sees Q4 revenue $1.599B-$1.605B, consensus $1.59B
NTELOS (NTLS) sees FY14 adj. EBITDA at or above mid-point of guidance $128M-$132M
AMCON Distributing (DIT) reports Q1 EPS $2.11 vs. $1.73 last year
Mosaic (MOS) raises Q4 EPS outlook to 83c-88c, consensus 57c
New Oriental Education (EDU) sees Q3 revenue $279.8M-$290M, consensus $292.6M
Unilever (UL) reports Q4 underlying sales growth up 2.1%
NEWSPAPERS/WEBSITES
Google (GOOG) near $1B investment in SpaceX, WSJ reports
DreamWorks (DWA) planning to lay off 'substantial' number of staff, LA Times reports
Yahoo (YHOO) to announce Alibaba (BABA) plans on or before January 27, AP says
Samsung (SSNLF) wants BlackBerry (BBRY) partnership, not takeover, WSJ reports
Google (GOOG) in talks to acquire mobile-pay platform Softcard, WSJ says
Samsung (SSNLF) shares could rise 30%, Barron's says
GoPro (GPRO) shares could drop further, Barron's says
Phillips 66 (PSX) could jump 50%, Barron's says
going to TD ameritrade unless the coli brehs got better online broker.