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Macro Focus
U.S. stock futures traded higher in early pre-market trade. Futures for the Dow Jones Industrial Average gained 8 points to
18,536.00, while the Standard & Poor’s 500 index futures rose 1.50 points to 2,186.75. Futures for the Nasdaq 100 index climbed
3.50 points to 4,820.50.
Oil prices traded lower as Brent crude futures declined 0.92 percent to trade at $49.50 per barrel, while US WTI crude futures
also fell 1.66 percent to trade at $47.30 a barrel. The Energy Information Administration’s weekly report on petroleum inventories
is schedule for release at 10:30 a.m. ET.
BZ News Desk Focus
Intuit (NASDAQ: INTU) Reports Q4 EPS
$0.08 vs. Est. $(0.02), Rev. $754M vs. Est. $732.7M
Nimble Storage (NYSE:NMBL) Reports Q2 Adj. EPS $(0.19) vs $(0.20) Est., Sales $97.1M vs $94.7M Est.
La-Z-Boy (NYSE: LZB) Reports Q1 EPS $0.30 vs.
Est. $0.29, Rev. $340.8M vs. Est. $358.7M
Express (NYSE: EXPR) Q2 EPS $0.13 vs $0.17
est, Revenue $504.8M vs $521.0M est
Sell-Side Themes
Loop Capital initiated coverage on cinemas, with Cinemark (NYSE: CNK) and AMC Entertainment (NYSE: AMC) at Buy and Regal (NYSE: RGC) at Hold.
Sell-Side's Most Noteworthy Calls
Goldman Sachs downgraded Garmin (NASDAQ: GRMN) to Sell.
Argus downgraded WhiteWave (NYSE: WWAV) to
Sell.
Barclays downgraded Canadian Solar (NASDAQ: CSIQ) to Equal-Weight.
Longbow upgraded ON Semiconductor (NASDAQ: ON) to Buy.
MKM upgraded Tutor Perini (NYSE: TPC) to Buy.
Baird started Check Point Software (NASDAQ: CHKP) at Neutral.
BTIG started Five Below (NASDAQ: FIVE) at
Neutral.
Deal Talk
Shares of Perrigo (NYSE: PRGO) traded
higher Tuesday following a report from DealReporter that Mylan (NYSE: MYL) was once again ready to bid for the manufacturer of OTC and prescription
pharmaceuticals, according to a sector advisor. Perrigo previously rejected a $26 billion proposal from Mylan.
Pfizer (NYSE: PFE) will acquire a small
molecule anti-infective business from AstraZeneca (NYSE: AZN) for up to $1.575 billion.
Hollywood talent agencies CAA and UTA, Fox Sports, Thomas H. Lee, WPP Group and Ares Capital Partners have each submitted
first-round bids for Learfield Communications, the sports marketing concern that owns media rights to 120 colleges and
universities, sources told the New York Post..
In The News
Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle
with low crude prices, raising worries about their ability to pay dividends and find new barrels.
A magnitude 6.2 earthquake has struck central Italy, leaving at least 37 people dead and 150 missing, as rescuers search for
survivors. Many of the dead were in the village of Pescara del Tronto which was leveled to the ground and there were fears the
number of casualties could rise. Although it struck at a shallow depth of 10km, its intensity was compared to the Aquila earthquake
in April 2009 in which 309 people died.
Blogosphere
Check out what
people are saying about the only hedge fund manager to beat the Feds.
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