NEWS:
- JCI: TYC: Johnson Controls confirms it will merge with Tyco International
- FUN: added to Goldman's Conviction Buy list
- SLB: Schlumberger to win unconditional EU approval for Cameron Deal, reports reuters
- TWTR: CEO Jack Dorsey confirms that four key executives have left the company, reports re/code
- BMY: FDA approves expanded label for Opdivo/Yervoy combination
- BA: complete first refueling flight of KC-46A tanker, reports reuters
- GE: Iraq approves GE electric grid deal worth $328M
- MCD: announces plans to launch 60 restaurants in Russia in 2016
SOME INTERESTING ARICLES IN BARRONS OVER THE WEEKEND:
- CMG: Chipotle Shares are Still Pricey, could fall another 20%, reported here
- NWL: With the Jarden acquisition, Newell will more than double in size and shares could double in 3-5 years, reports Jack Hough
- IP: Time to buy. The stock has been hit by commodities woes and it's overdone at this point. Could rally 50%, says Sandra Ward
SOME NOTABLE EARNINGS REPORTED BEFORE THE OPENING TODAY:
- DHI: FQ1 EPS of $0.42 beats by $0.01: revenue of $2.3B misses by $40M: revenue +5.4% y/y
- HAL: Q4 EPS of $0.31 beats by $0.07: revenue of $5.08B misses by $30M: revenue -42.1% y/y
- KMB: Q4 EPS of $1.42 misses by $0.01: revenue of $4.54B misses by $30M: revenue -6.0% y/y
- MCD: Q4 EPS of $1.31 beats by $0.08: revenue of $6.34B beats by $120M: revenue -3.5% y/y:
- PETS:FQ3 EPS of $0.24 misses by $0.01: revenue of $50.93M beats by $1.65M: revenue +3.3% y/y
SOME NOTABLE EARNINGS TO BE REPORTED AFTER THE CLOSE TODAY:
- ASH, PRO, BXS, CR, ELS, PKG, RLI, RMBS, SANM, STLD, SWFT, ZION
ANALYSTS' RATINGS CHANGES:
UPGRADES:
- HD: upgrade: hold to buy: Deutsche Bank: $135
- OFC: upgrade: neutral to buy: Mizuho: pt raised from $23 to $25
- VYGR: upgrade: sell to neutral: Chardan Capital: $15
- INTC: upgrade: neutral to outperform: Macquarie: pt raised from $34 to $35
- SCHW: upgrade: neutral to buy: Nomura: $34
- GS: upgrade: neutral to buy: Nomura: pt raised from $207 to $210
- PNFP: upgrade: underperform to market perform: Hovde Group: pt cut from $52 to $51
- TOL: upgrade: outperform to strong buy: Raymond James: $40
DOWNGRADES:
- OKS: downgrade: outperform to neutral: Baird: pt cut from $40 to $25
- REGN: downgrade: neutral to sell: Chardan Capital: pt cut from $525 to $400
- IFF: downgrade: buy to hold: Stifel
- BMY: downgrade: outperform to market perform: BMO Capital: pt cut from $74 to $70
- TOL: downgrade: outperform to market perform: JMP Securities
- WFM: downgrade: market perform to underperform: BMO Capital: pt cut from $26 to $23
- TWTR: downgrade: buy to hold: Stifel
- CAT: downgrade: hold to sell: Goldman: pt cut from $67 to $51
- N: downgrade: overweight to equal weight: Stephens
- OVAS: downgrade: outperform to perform: Oppenheimer
- RJF: downgrade: buy to neutral: Nomura: pt cut from $65 to $55
- JPM: downgrade: buy to neutral: Nomura: pt raised from $70 to $71
- AXP: downgrade: overweight to equal weight: Morgan Stanley: $64
- PKG: downgrade: buy to neutral: Citi
- SNDK: downgrade: outperform to underperform: CLSA: pt cut from $86 to $70
- IP: downgrade: buy to neutral: Citi: pt cut from $45 to $38
INITIATIONS:
- ADHD: initiated: outperform: Northland: $16
- QTS: initiated: buy: SunTrust: $52
PRICE TARGET CHANGES:
- SAP: pt raised from $76 to $79: FBR Capital
- VZ: pt raised from $48 to $50: RBC Capital
- UA: pt cut from $110 to $95: Cowen
- XEC: pt cut from $128 to $110: Topeka Capital
- CTXS: pt cut from $82 to $80: RBC Capital
- FIT: pt cut from $33 to $28: RBC Capital
- FCX: pt cut from $10 to $8: RBC Capital
- GE: pt cut from $34 to $33: RBC Capital
- STI: pt cut from $48 to $46: RBC Capital
- STJ: pt cut from $66 to $57: RBC Capital
- COL: pt cut from: $105 to $99: RBC Capital
- JBL: pt cut from $26 to $23: RBC Capital
- CLVS: pt cut from $35 to $23: Mizuho
- GPOR: pt cut from $50 to $42: Topeka Capital
- XON: pt cut from $42 to $28: Mizuho
- KSU: pt cut from: $83 to $76: Cowen
- KSU: pt cut from $88 to $80: UBS
- Z: pt cut from $38 to $32: Canaccord
- SLB: pt cut from $81 to $75: Cowen
- ENS: pt cut from $73 to $67: Stifel
- EPE: pt cut from $12 to $6: Topeka Capital
- HES: pt cut from $58 to $38: JP Morgan
- SSYS: pt cut from $37 to $30: Jefferies
- DD: pt cut from $11 to $7.50: Jefferies
