US stock market news - NYSE, NASDAQ on 3.08.2017

● Analysts at RBC Capital Mkts raised their price target for Tesla shares (TSLA) to $345 with $314

● Analysts at Atlantic Equities upgraded Caterpillar shares (CAT) до уровня Neutral с Underweight
● VTB Capital analysts have upgraded Yandex N.V shares. (YNDX) to the level of Buy c Hold

● American Intl (AIG) by the results of the second quarter 2017 fiscal year (FG) reached $1.19 per share (against $0.98 in the second quarter 2016 FG), which turned out to be below the average forecast of analysts at the level $1.20.

● Tesla (TSLA) by the results of the second quarter 2017 fiscal year (FG) Reached $1.33 per share (against -$1.06 in the second quarter 2016 FG), which turned out to be better than the average forecast of analysts at the level of -$1.99.

● World of Warcraft gold has become more expensive than the Venezuelan national currency

● Today in 15:50 bitcoin will split into two cryptocurrencies

● Thai banks want to introduce free verification of documents through the blockchain

● Биржа BTC-e недоступна уже более семи часов

● Apple shares rose by 6% after crushing income

Lufthansa, Germany's leading airline, reports record 2Q net profit. The indicator from April to June increased by almost 70% to 740 million euros.
● Рост занятости в частном секторе США замедлился

● Apple Inc's unexpectedly strong quarterly results push iPhone maker stock to record highs. Against this background, the Dow Jones Industrial Average may exceed the mark 22000 during trading on Wednesday, writes Reuters.
● Lack of competition hits the U.S. economy. Without competitors breathing down the neck, it is easy for monopolists to make huge profits. And in the US economy, monopolies are common, although this does not bother ordinary people. So, for example, 46 million American households, with only one broadband internet provider, платят неоправданно высокие тарифы за плохие услуги.
● Trump will force Foxconn to invest in the US $30 billion
● Retailer Fred's Inc. (NASDAQ: FRED) reported a drop in comparable sales of the company in July this year by 0,1%. Total sales for the reporting period fell by 3,5% to $150,5 million. For the quarter, like-for-like sales decreased by 0,3%, general - on 4,2%. In three months, the retailer closed 39 unprofitable points.

● Dish Network Corp. (NASDAQ: DISH) reported receiving 2 quarter profit of $40 million (9 cents per share) compared to $410 million (88 cents per share) a year earlier. Operating profit was 69 cents per share.

● Kellogg Co. (NYSE: K) reported receiving 2 quarter profit of $282 million (80 cents per share) compared to $280 million (79 cents per share) a year earlier.

● L Brands (NYSE: LB), owner of the Victoria's Secret brand, reported a decrease in LFL sales in July by 7%. Total sales decreased in the reporting month to $768 million s $777 million.

● Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) reported receiving 2 quarter of a loss of $6,04 million ($5,94 per share) compared to profit in $188 million (20 cents per share) a year earlier.

● Qatar Airways said, that he is abandoning his plan to buy a stake in American Airlines Group Inc. (NASDAQ: AAL).

● Wearable electronics manufacturer Fitbit (NYSE: FIT) announced receipt of 2 quarter of a loss of $58,2 million (25 cents per share) compared to profit in $6,3 million (3 cents per share) a year earlier.

● Разработчик и издатель видеоигр Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported receiving 1 quarter profit of $60 million (56 cents per share) compared to the loss in $39 million (46 cents per share) a year earlier.

● Tesla Motors Inc. (NASDAQ: TSLA) reported receiving 2 quarter of a loss of $336 million ($2,04 per share) compared to $293 million ($2,09 per share) a year earlier.

● MetLife Inc. (NYSE: MET) reported receiving 2 quarter profit of $838 million (77 cents per share), compared to $64 million (6 cents per share) a year earlier.

● Trump on Wednesday backed a Senate proposal to, to halve the number of green cards issued annually. According to the bill, priority will be given to migrants with good education and knowledge of English, а не с семейными связями в США

● The Brazilian Congress on Wednesday voted to, to clear corruption charges against President Michel Temer

● Investor fears about possible default of Venezuela are growing. Ситуацию могут усугубить потенциальные санкции США против нефтяного сектора страны в связи с попытками президента Николаса Мадуро увеличить свою власть

● Iraq on Wednesday for the first time in more than 10 years will conduct an independent international emission of government bonds. Baghdad intends to attract $1 billion, and the volume of investor applications reached $6,6 billion

● Inflation in the G20 countries in June decelerated to 2%, minimum level from 2009 G. This discourages attempts by central banks to reduce stimulus to the economy.

● The Bank of England did not change interest rates on Thursday. But the central bank assumes, that they will grow faster, чем ожидают инвесторы

● China's Alibaba plans to sell luxury cars in special vending machines from next year. However, before her, other companies began to experiment with this

● US investigators dropped billions of dollars of criminal charges against two former JPMorgan Chase traders. Four years ago, key witness Bruno Ixil, or "London whale", agreed to testify against them. But this year he suddenly changed his testimony., blaming CEO James Dimon and other top executives. The investigation stated, that can no longer rely on Ixil's testimonies

● Insurers AIG and MetLife on Wednesday reported growth in operating profit for the quarter. At the same time, changes are taking place in both companies - AIG has a new CEO during this period., а от MetLife в пятницу отделится подразделение страхования жизни

Invesco is in talks with Guggenheim Partners to acquire its ETF management business (ETF). The size of the transaction can be about $2 billion

● SoftBank invests $250 million in Kabbage, one of the largest online lenders in the USA, working with small businesses

● China's Tencent has removed two chatbots from its popular messenger QQ due to their anti-patriotic responses. One informed users, what the Chinese Communist Party doesn’t like, and the other is about the dream of leaving for America. This is another example of, how artificial intelligence can spiral out of control

● Sports and entertainment company WME-IMG attracted $1 billion investments from the Canadian Pension Fund and Singapore Sovereign Fund. She is now estimated at $6,3 billion

● Demand for TV antennas in the US is on the rise again. Young people accustomed to cable and online television are surprised to learn, that the antennas allow you to watch the main TV channels for free and at the same time legally

● Avon CEO Sheri McCoy to step down in March amid poor performance and pressure from activist investors

Australian department store chain David Jones tries to lure shoppers with delicacies. Так она надеется защитить свой бизнес от Amazon и других онлайн-ритейлеров

● Wyndham Worldwide will split its hospitality and timesharing business into two separate public companies. Previously, its competitors Marriott and Hilton did this.

● Facebook is gradually increasing the proportion of women among its employees, hiring college graduates

Gapping down
In reaction to disappointing earnings/guidance/same-store-sales:

• IPAS -30.8%, PMTS -28.7%, COMM -15.2%, TTMI -12.8%, RGR -11.7%, TSE -11.1%, HAVE -10.3%, HIVE -10.2%, DDD -9.8%, MOH -9.4%, (also announces restructuring, withdraws outlook), MCEP -7.8%, CENX -7.4%, HAWTHORN-7.3%, CAKE -6%, PE -5.8%, AREX -5.8%, HOLX -5.7%, AVP -5.1%, CBPO -5%, CHD -5%, MTBC -4.7%, TS -4.6%, LB -4.5%, AWK -4.3%, HK -3.8%, KCAP -3.7%, DISH -3.7%, NUDE -3.4%, BRSS -3.3%, DWSN -3.3%, BDX-3.2%, TCAP -3.1%, EXK -3.1%, ABC -3%, SYMC -2.9%, (Symantec sells its Website Security and related PKI solutions to DigiCert for approx. $950 mln in cash and approx. 30% stake in the common stock equity of the DigiCert business at the closing of the transaction), CRHM -2.9%, TCS -2.9%, TTEK -2.8%, INN -2.8%, MTDR -2.7%, COT -2.7%, CF -2.5%, PRU -2.3%, CAMT -2.3%, CRIS -2.3%, ICL -2.3%, SQ -2.2%, EEP -2.2%, AXTA -2.2%, CLVS-2%, PK -2%, NGL -2%, CRUS -1.8%, EXEL -1.8%, GKOS -1.8%, RICE -1.8%, NNBR -1.7%, THINKING -1.7%, EVC -1.6%, CLLS -1.6%, MIC -1.5%, HL -1.5%, LQDT -1.5%, LSI -1.4%, USAK -1.4%, BID -1.4%, NEFF -1.2%, THOSE-1.2%, QUEST -1.1%, BLL -1.1%

 

• SWIR -7.8% (Numerex Corp. to merge with Sierra Wireless in a stock-for-stock merger transaction; the Transaction is valued at ~$107 million)

Other news

• AGRX -19.3% (to offer shares of its common stock in underwritten offering )
• DRRX -4.3% (Durect and Zogenix (ZGNX) have terminated their Development and License Agreement whereby Zogenix had the worldwide development and commercialization rights to Relday)
• FBP -4.2% (commences 20 mln common stock offering by the co and/or Thomas H. Lee Partners)
• AOBC -4.2% (following RGR earnings)
• MNK -3.6% ( issues statement on DOJ subpoena related to opioid products)
• PBYI -1.4% (CHMP has issued its Day-180 List of Outstanding Issues in the process of their ongoing regulatory review of its MAA for neratinib for the extended adjuvant treatment of HER2-positive early stage breast cancer in patients who have previously been treated with trastuzumab-based adjuvant therapy)
• AGTC -1.1% (appoints William Sullivan as CFO; CFO Larry Bullock is retiring)
• ORC -1% ( files prospectus to sell up to $125 million of shares of its common stock through an at-the-market program)

Analyst Comments:

• MAT -1.3% (downgraded to Underperform at DA Davidson)
• ALL -0.7% (downgraded yesterday to Hold from Buy at Deutsche Bank)

Up
Earnings / guidance response:

• ESIO +21.5%, STMP +14.9%, CENT +14.5%, SEDG +14.4%, FMSA +12.4%, TTWO +11.8%, BVX +11.6%, HLTH +11.5%, AYX +10.2%, PACB +9.1%, (also announced that NVGN will purchase 10 Sequel Systems, filed mixed securities offering), FORM +9%, FCPT +9%, HCLP +8.9%, NSIT +8.7%, OCLR +8.4%, ECR +7.8%, OSUR +7.7%, AAC +7.3%, TSLA +6.6%, DATA +6.2%, SUPN +5.8%, TGB +5.8%, HIIQ +5.6%, QLYS +5.4%, HIMX +5.1%,FIT +4.9%, BLDP +4.9%, AET +4.7%, CSLT +4.6%, CDW +4.6%, SOMETHING +4.4%, AXGN +4.3%, HUBS +4.1%, CHK +3.5%, BIVV +3%, WMGI +2.8%, CAVM +2.8%, RP +2.7%, (to acquire substantially all of the assets of On-Site Manager for approximately $250 million in cash), CPE +2.7%, CTSH +2.6%, GOLD +2.6%, ZNGA +2.5%, GPL +2.3%, KGC +2.2%, OAS +2%, BREW +1.8%, AIG +1.7%, CATM +1.6%, THAT +1.5%, SRI +1.5%, CINF +1.4%,AGO +1.4%, TDOC +1.3%, ITRI +1.3%, MRO +1.3%, BMRN +1%, (also will expand its development plan for BMN 270 to include an additional Phase 3 study of the 4e13 vg/kg dose based on updated data as of July 28, 2017 from its ongoing open-label Phase 1/2 study of BMN 270), IAC +1%, GDI +1%, MASI +1%

 

• SCLN +5% (SciClone Pharma in proxy statement discloses non-binding competing bid for $12.00/share)
• KTWO +4.2% (acquires the license to a portfolio of 17 issued and pending patents for expandable interbody technology; terms not disclosed)
• WYN +2.9% (Wyndham Worldwide to spin off the company’s hotel business resulting in two separate, publicly traded companies; to explore strategic alternative for the European rental brands)
• TROX +2.5% (divests Alkali Business for $1.325 bln; issues Q2 guidance)
• NMRX +1.6% (Numerex Corp. to merge with Sierra Wireless in a stock-for-stock merger transaction; the Transaction is valued at approximately US$107 million ), .

Select OCLR peers trading higher:

• AAOI +3.3%, FN +2.2%, FNSR +2.1%, NPTN +1.8%, WHERE IS IT +1.8%, LITE +1.8%, ACIA +1.5%, COHR +1.4%, INFN +1.3%, .

Other news

• ATVI +3.2% (following TTWO/ZNGA earnings and ahead of its own release tomorrow Aug 3)
• NVTA +2.1% (Baker Bros/15.1% active stake discloses participation in NVTA’s 7/31 private placement)
• AMC +1.6% (modestly rebounding from 27% decline following guidance; moves up Q2 earnings release and conference call to August 4 before the open)
• CCXI +1.4% (Chief Medical Officer Dr. Petrus Bekker retires for family medical reasons)
• HZO +1.3% (approves a new 2 mln stock repurchase plan )
• CHGG +1.1% (increases/prices follow-on offering of 10 mln shares at $13.50 per share)

Analyst Comments:

• LC +2.2% (upgraded to Outperform at Oppenheimer)
• CAT +0.5% (upgraded to Neutral from Underweight at Atlantic Equities)

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