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minutes@benzinga.com.
Macro Focus
U.S. stock futures traded lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 85 points to
17,796.00, while the Standard & Poor's 500 index futures fell 11.75 points to 2,093.75. Futures for the Nasdaq 100 index declined
30.25 points to 4,473.75.
Oil prices traded lower as Brent crude futures dropped 1.23 percent to trade at $51.31 per barrel, while US WTI crude futures
also declined 1.42 percent to trade at $49.84 a barrel.
The University of Michigan consumer sentiment index for June is scheduled for release at 10:00 a.m. ET, while the Federal Budget
report for May will be released at 2:00 p.m. ET.
BZ News Desk Focus
Some of last night's and this morning's most notable earnings:
Organovo (NYSE: ONVO) Reports Q4 EPS
$(0.09) vs. Est. $(0.11), Rev. $500K vs. Est. $300K
Mattress Firm (NASDAQ: MFRM) Reports Q1 EPS
$(0.10) vs $(0.04) Est., Sales $839.4M vs $867M Est.
H&R Block (NYSE: HRB) Reports Q4 EPS $3.16
Vs Est $3.15, Sales $3.38B Vs Est $2.28B
Sell-Side's Most Noteworthy Calls
Citi downgraded Zoetis (NYSE: ZTS) to
Neutral.
BMO downgrades AbbVie (NYSE: ABBV) to Market
Perform.
FBR upgraded Joy Global (NYSE: JOY) to
Outperform.
Macquarie upgraded Cliffs Natural Resources (NYSE: CLF) to Outperform.
William Blair initiated coverage on Amazon (NASDAQ: AMZN) at outperform.
Goldman Sachs started Allegion (NYSE: ALLE)
at Buy.
Deal Talk
Hershey (NYSE: HSY) surged higher Thursday
on unconfirmed chatter of an approach from Nestle (OTC: NSRGF). Sources said Nestle could bid $125 per share for the candy company. Hershey
declined comment, telling Benzinga via email "we do not comment on market speculation related to mergers and acquisitions."
ON Semiconductor (NASDAQ:ON) reported an extension of its tender offer to buy Fairchild
Semiconductor (NASDAQ: FCS) to June 23, 2016.
AstraZeneca (NYSE: AZN) announced it has
entered into a commercialization agreement with Aspen Global for rights to its global anesthetics portfolio outside the US for $520
million upfront payment.
In The News
President Barack Obama officially endorsed Hillary Clinton on Thursday: "I know how hard this job can be. That's why I know
Hillary will be so good at it. In fact, I don't think there's ever been someone so qualified to hold this office." Let the Twitter war games being.
Tesla (NASDAQ: TSLA) is being
investigated by the U.S. National Highway Traffic Safety Administration over a potential suspension issue on the Model S sedan. In
a blog post titled "A Grain of Salt," Tesla said it has a few things
that "need to be cleared up."
Blogosphere
One humorous Reddit poster summarized
a typical Janet Yellen speech using zebras as an analogy.
Is there something we're all
missing about George Soros getting back into the trading game?
Trending
SPY FCX LABD GBT HRB EMES MYL QQQ INSM MRFM LABU ATVI UNG TSLA [StockTwits]
#TrumpSecretServiceCodeName is bringing in some juvenile, but funny entries.
Latest Ratings for ABBV
Date |
Firm |
Action |
From |
To |
Jun 2016 |
BMO Capital |
Downgrades |
Outperform |
Market Perform |
Jun 2016 |
Morgan Stanley |
Downgrades |
Overweight |
Equal-weight |
Jun 2016 |
Cowen & Company |
Downgrades |
Outperform |
Market Perform |
View More Analyst Ratings for
ABBV
View the Latest Analyst Ratings
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