Boiler Room: The Official Stock Market Discussion

[Swagaveli]

fukk brehs these SPY puts are kiling me. Over -50%, but surely it'll dip to 202-203s fron now to next Friday. Feb 20s on deck.

Any thoughts on what SPY doing today?

 

[Domingo Halliburton]

dollar and 10Y yield spiking after jobs report...

 

[Domingo Halliburton]

ECONOMIC REPORTS

Domestic economic reports scheduled for today include:
Nonfarm payrolls for January at 8:30--consensus up 230K
Unemployment rate for January at 8:30--consensus 5.6%
Consumer credit for December at 15:00--consensus $15.2B

ANALYST RESEARCH

Upgrades

ABB (ABB) upgraded to Overweight from Equal Weight at Barclays
AXIS Capital (AXS) upgraded to Hold from Sell at Deutsche Bank
Best Buy (BBY) upgraded to Outperform from Perform at Oppenheimer
CyberArk (CYBR) upgraded to In-Line from Underperform at Imperial Capital
Everest Re (RE) upgraded to Buy from Hold at Deutsche Bank
First BanCorp (FBP) upgraded to Outperform from Market Perform at Keefe Bruyette
GrubHub (GRUB) upgraded to Buy from Hold at Brean Capital
Hospira (HSP) upgraded to Neutral from Sell at Goldman
Ironwood (IRWD) upgraded to Hold from Sell at Cantor
MEDNAX (MD) upgraded to Buy from Hold at Stifel
Nationstar (NSM) upgraded to Outperform from Market Perform at Wells Fargo
PartnerRe (PRE) upgraded to Hold from Sell at Deutsche Bank
PennantPark (PNNT) upgraded to Outperform from Neutral at RW Baird
PennantPark (PNNT) upgraded to Overweight from Neutral at JPMorgan
Prudential plc (PUK) upgraded to Neutral from Underweight at JPMorgan
RenaissanceRe (RNR) upgraded to Hold from Sell at Deutsche Bank
Santander Chile (BSAC) upgraded to Neutral from Sell at Goldman
Staples (SPLS) upgraded to Neutral from Sell at Goldman
Synchronoss (SNCR) upgraded to Neutral from Underperform at RW Baird

Downgrades

Apollo Global (APO) downgraded to Market Perform from Outperform at Keefe Bruyette
Apollo Investment (AINV) downgraded to Neutral from Overweight at JPMorgan
BioMed Realty (BMR) downgraded to Neutral from Buy at Mizuho
Broadridge (BR) downgraded to Market Perform from Outperform at Keefe Bruyette
Digital Realty (DLR) downgraded to Sell from Neutral at UBS
DuPont Fabros (DFT) downgraded to Sell from Neutral at UBS
Empresas ICA (ICA) downgraded to Equal Weight from Overweight at Barclays
Expedia (EXPE) downgraded to Perform from Outperform at Oppenheimer
Gilead (GILD) downgraded to Neutral from Outperform at Credit Suisse
Goodrich Petroleum (GDP) downgraded to Market Perform from Outperform at Cowen
National Bank of Greece (NBG) downgraded to Neutral from Buy at Goldman
OFG Bancorp (OFG) downgraded to Market Perform from Outperform at Keefe Bruyette
Pandora (P) downgraded to Market Perform from Outperform at Raymond James
Pandora (P) downgraded to Market Perform from Outperform at Wells Fargo
Pandora (P) downgraded to Neutral from Buy at B. Riley
Post Properties (PPS) downgraded to Hold from Buy at Stifel
Prestige Brands (PBH) downgraded to Market Perform from Outperform at Raymond James
Sprint (S) downgraded to Hold from Buy at Evercore ISI
Telenor (TELNY) downgraded to Sell from Neutral at Citigroup
Teradata (TDC) downgraded to Underperform from Neutral at Credit Suisse
USG (USG) downgraded to Equal Weight from Overweight at Barclays
Viacom (VIAB) downgraded to Underweight from Neutral at Atlantic Equities
Wesco Aircraft (WAIR) downgraded to Sector Perform from Outperform at RBC Capital
Yelp (YELP) downgraded to Sector Perform from Outperform at Pacific Crest
Yelp (YELP) downgraded to Sell from Neutral at B. Riley

Initiations

ACADIA (ACAD) coverage resumed with a Buy at Roth Capital
AmSurg (AMSG) initiated with a Buy at Jefferies
BB&T (BBT) initiated with an Outperform at Credit Suisse
Citizens Financial (CFG) initiated with a Neutral at Credit Suisse
Comerica (CMA) initiated with a Neutral at Credit Suisse
Fifth Third Bancorp (FITB) initiated with an Underperform at Credit Suisse
Huntington Bancshares (HBAN) initiated with a Neutral at Credit Suisse
Inphi (IPHI) initiated with an Outperform at Imperial Capital
KeyCorp (KEY) initiated with an Outperform at Credit Suisse
M&T Bank (MTB) initiated with a Neutral at Credit Suisse
Regions Financial (RF) initiated with a Neutral at Credit Suisse
Sunoco Logistics (SXL) initiated with an Overweight at JPMorgan
Sunoco (SUN) initiated with an Overweight at JPMorgan
Zions Bancorp (ZION) initiated with a Neutral at Credit Suisse

COMPANY NEWS

Frontier Communications (FTR) announced a definitive agreement with Verizon (VZ) under which Frontier will acquire Verizon’s wireline operations that provide services to residential, commercial and wholesale customers in California, Florida and Texas, for $10.54B in cash
Verizon (VZ) lease rights to over 11,300 towers to American Tower (AMT) for $5B
Verizon (VZ) to return $5B to holders through share repurchase
Harris (HRS) to acquire Exelis (XLS) for $23.75 per share, or approximately $4.75B
Twitter (TWTR) reported Q4 Average Monthly Active Users up 20% to 288M, sees Q1 net user adds similar to rate of first three quarters of 2014
Trian said DuPont (DD) "appears to be acknowledging” the need to upgrade its board with individuals that have “fresh, independent, highly relevant perspectives"
GoPro (GPRO) COO Nina Richardson resigning to pursue other opportunities, board roles
Activision Blizzard (ATVI) announced a new $750M share repurchase program

EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Twitter (TWTR), LinkedIn (LNKD), GoPro (GPRO), Sirona Dental (SIRO), Aon plc (AON), Sensient (SXT), Silicon Image (SIMG), ACETO (ACET), Simpson Manufacturing (SSD), AptarGroup (ATR), Audience (ADNC), Evans Bancorp (EVBN), Rentrak (RENT), Endurance Specialty (ENH), SPS Commerce (SPSC), Sierra Wireless (SWIR), SMART Technologies (SMT), Iteris (ITI), Universal Technical (UTI), Paylocity (PCTY), LeapFrog (LF), Marin Software (MRIN), Brightcove (BCOV), ON Semiconductor (ONNN), ChannelAdvisor (ECOM), Control4 (CTRL), McKesson (MCK), Standard Pacific (SPF), Tempur Sealy (TPX), Activision Blizzard (ATVI), Axcelis (ACLS), Maxwell (MXWL), Ubiquiti Networks (UBNT), News Corp. (NWSA), athenahealth (ATHN), Mettler-Toledo (MTD), FleetCor (FLT), Outerwall (OUTR), Yelp (YELP), Pixelworks (PXLW), Symantec (SYMC), Kemper (KMPR), Haynes (HAYN), Fluidigm (FLDM), FBL Financial (FFG), Nuance (NUAN), ePlus (PLUS), bebe stores (BEBE), Netgear (NTGR), Echo Global (ECHO), Lionsgate (LGF)

Companies that missed consensus earnings expectations include:
Intrawest Resorts (SNOW), Olin Corp. (OLN), Bristow Group (BRS), Post Holdings (POST), Badger Meter (BMI), ARC Group (ARCW), Craft Brew (BREW), Aspen Insurance (AHL), eGain (EGAN), Amtech Systems (ASYS), Cardica (CRDC), Moelis (MC), Wesco Aircraft (WAIR), DeVry (DV), VeriSign (VRSN), Cutera (CUTR), Elizabeth Arden (RDEN), Fairway Group (FWM), PDF Solutions (PDFS), Brooks Automation (BRKS), pSivida (PSDV), Expedia (EXPE), Pandora (P), Buffalo Wild Wings (BWLD), NIC Inc. (EGOV)

Companies that matched consensus earnings expectations include:
Empire District Electric (EDE), Capstone Turbine (CPST), Q2 Holdings (QTWO), SciQuest (SQI), TeleCommunication Systems (TSYS), Imperva (IMPV), Callidus Software (CALD), Solera (SLH), Stericycle (SRCL)

GoPro (GPRO) sees Q1 EPS 15c-17c, consensus 17c
Yelp (YELP) sees FY15 revenue $538M-$543M, consensus $537.98M
Twitter (TWTR) sees Q1 revenue $440M-$450M, consensus $449.68M, sees FY15 revenue $2.3B-$2.35B, consensus $2.3B
LinkedIn (LNKD) sees FY15 adjusted EPS approximately $2.95, consensus $2.73

NEWSPAPERS/WEBSITES
RadioShack (RSH) files for bankruptcy protection, Bloomberg reports
SEC investigating insider trading of BlackBerry (BBRY) options, Reuters reports
Expedia (EXPE) may see $847M tax fine from State governments, Bloomberg reports
Anthem (ANTM) did not encrypt information prior to hack, WSJ reports
United Steelworkers reject offer from oil refiners, WSJ reports (MPC, TSO, LYB, RDS.A, RDS.B)

SYNDICATE
Activision Blizzard (ATVI) files to sell 41.5M shares of common stock for Vivendi (VIVHY)
Columbia Pipeline (CPPL) 46.81M share IPO priced at $23.00
Dave & Busters (PLAY) 6.6M share Secondary priced at $29.50
Easterly Government Properties (DEA) 12M share IPO priced at $15.00
Emerald Oil (EOX) files to sell $25M of common stock
M/A-COM (MTSI) 7.8M share Secondary priced at $30.00
Navios Maritime Partners (NMM) files to sell 4M common units for limited partners
Ohr Pharmaceutical (OHRP) files automatic common stock shelf
Oncothyreon (ONTY) files to sell common stock and series B convertible preferred stock
Oncothyreon (ONTY) files to sell common stock, Series B Convertible Preferred Stock
One Horizon Group (OHGI) files to sell 3.28M shares of common stock for holders
Prologis (PLD) files to sell $750M of common stock 'at-the-market'
Sterling Bancorp (STL) 6M share Secondary priced at $13.00
Trovagene (TROV) files automatic common stock shelf
WashingtonFirst Bankshares (WFBI) files to sell 1.37M shares of common stock for holder

non-farm payrolls came in at 257k. November revised up to 423k jobs added.

 

[Futuristic Eskimo]

dollar and 10Y yield spiking after jobs report...

well those revisions sure did blow up my no rate hike thesis very quickly

 

[Domingo Halliburton]

well those revisions sure did blow up my no rate hike thesis very quickly

Yeah people are coming out and saying they expect a change in monetary policy at the testimony later this month

 

[Futuristic Eskimo]

Yeah people are coming out and saying they expect a change in monetary policy at the testimony later this month

I'm surprised energy job cuts haven't moved these numbers to the downside. Maybe things are actually improving. Next month's wage numbers are going to be very telling.

Edit: Right after I post this, zero hedge drops a nice little nugget:

suspicious

 

[Ohene]

You still at the same spot? I think I saw you had an interview at kpmg

yup. graduated last april...been working a financial reporting contract gig for Best buy.

had a kpmg in person and phone interview. another interview on monday. hopefully its the last

BBY wants me back but theres too much of a ceiling in this small office. I'm too expensive for them to stay

 

[Futuristic Eskimo]

yup. graduated last april...been working a financial reporting contract gig for Best buy.

had a kpmg in person and phone interview. another interview on monday. hopefully its the last

BBY wants me back but theres too much of a ceiling in this small office. I'm too expensive for them to stay

What's the job at KPMG?

 

[Ohene]

Turned down a job at very sizeable asset manager in fixed income research after busting my ass to get research interviews Would've started in July.

Ended up taking one at Ernst and young. Working on the (redacted)account doing capital projections for their ccar efforts. fukk an end of year bonus

Same firm as my girl though

Congrats breh.

i got a friend doing his first MBA year. Had some good consulting interviews but didnt land anything

Why did you turn down the Fixed Income jawn though...didnt wanna wait that long?

 

[Ohene]

What's the job at KPMG?

Financial Analyst position. It's more internal as opposed to client based though...I'd be working under controllers for KPMG's Financial Management Division...communicating and reporting financial results to them/partners across Canada. It's good because it would be helpful towards me getting my CPA work experience and I'd be making 50% more than my classmates who went the traditional auditing route are making .

Hopefully i get it

 

[Futuristic Eskimo]

Financial Analyst position. It's more internal as opposed to client based though...I'd be working under controllers for KPMG's Financial Management Division...communicating and reporting financial results to them/partners across Canada. It's good because it would be helpful towards me getting my CPA work experience and I'd be making 50% more than my classmates who went the traditional auditing route are making .

Hopefully i get it

Sounds solid. If you're in the third round already, they already like you. At this point, it's about not fukking it up yourself

I couldn't wait that long breh. I figured, by starting earlier, the extra money in my pocket would make up for the lack of bonuses for staff. My analyst was going to be a cranky Asian bytch too, so I doubt I would have enjoyed being there. I met her twice and she spent an hour telling me to basically not talk to anyone ever because it would reflect poorly on her if I said something that deviated from her view

Taking cfa in June. I'm gonna be busy as fukk for the next few months. No time for active management

 

[Domingo Halliburton]

flash dash in 49 stocks at 11:06 EST

edit: "flash-dash not crash"

 

[Ohene]

Sounds solid. If you're in the third round already, they already like you. At this point, it's about not fukking it up yourself

I couldn't wait that long breh. I figured, by starting earlier, the extra money in my pocket would make up for the lack of bonuses for staff. My analyst was going to be a cranky Asian bytch too, so I doubt I would have enjoyed being there. I met her twice and she spent an hour telling me to basically not talk to anyone ever because it would reflect poorly on her if I said something that deviated from her view

Taking cfa in June. I'm gonna be busy as fukk for the next few months. No time for active management

You made the right choice then based on the bolded. Most people would've agreed to both, and then taken the 6 months of E&Y experience before bolting in July but with a nazi manager it aint worth it.

In any case it sounds like youre on the right track. You can get through that CFA, get the lauded Big 4 experience and then make the move in the corp finance/research through networking. Does the account you working on present a good networking opp?

 

[Domingo Halliburton]

utilities and REITs are down hard but telecoms are up. strange

 

[Domingo Halliburton]

UNG (nat gas ETF) at lifetime low