Macro Focus
Futures for the Dow Jones Industrial Average climbed 26 points to 18,088.00, while the Standard & Poor’s 500 index futures
gained 4.50 points to 2,124.25. Futures for the Nasdaq 100 index rose 8.75 points to 4,805.25.
Oil prices traded lower as US WTI crude futures fell 0.30 percent to trade at $46.72 a barrel.
Redbook Reports US Retail Sales During October Down 0.1% MoM, Up 0.6% YoY
- Data on motor vehicle sales for October will be released today.
- The Federal Open Market Committee will begin two-day policy meeting today.
- The Markit manufacturing PMI for October will be released at 9:45 a.m. ET.
- The ISM manufacturing index for October is schedule for release at 10:00 a.m. ET.
- Data on construction spending for September will be released at 10:00 a.m. ET.
- The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
BZ News Desk Focus
-
Pfizer (NYSE: PFE) Q3 EPS $0.61 vs $0.62
Est., Revenue $13.05B vs $13.05B Est.
- Royal Dutch Shell Q3 EPS $0.35 vs $0.44 Est., Revenue $61.9B vs $61.1B Est.
-
Coach (NYSE: COH) Q1 EPS $0.45 vs $0.45
Est., Revenue $1.04B vs $1.07B Est.
-
Molson Coors (NYSE: TAP) Q3 EPS $1.03 vs
$1.12 Est., Revenue $2.29B vs $2.33B Est.
Sell-Side Themes
Camping World's (NYSE: CWH) analyst quiet
period has ended. So far, it has received coverage form four analysts.
Sell-Side's Most Noteworthy Calls
- Morgan Stanley downgraded Juniper (NYSE: JNPR) to Underweight.
- Guggenheim downgraded MasterCard (NYSE: MA) to Neutral.
- Imperial Capital upgraded Allegion (NYSE:
ALLE) to Outperform.
- Summit Redstone upgraded VMware (NYSE: VMW) to Buy.
- Oppenheimer started Twilio (NYSE: TWLO)
at Outperform.
Deal Talk
Cipher Pharmaceuticals (NASDAQ: CPHR) is
said to have hired an investment bank to explore strategic alternatives, according to sources as reported by Reuters on Monday. The
sources said a potential sale of the Canada-based company is being considered. Cipher declined comment on the report.
Gannett (NYSE: GCI) has dropped its bid to
acquire tronc (NASDAQ: TRNC), sending
shares of the latter down 30 percent.
Mario Gabelli on Monday gained
the upper hand in his battle to force Carl Icahn to sweeten his offer for a car-parts manufacturer. Icahn, who owns 82 percent
of Federal-Mogul (NASDAQ: FDML), offered
$9.25 a share for the remaining stake but fell way short after Gamco Investors boss Gabelli — who has a leading stake in
Federal-Mogul — pressed for a higher price.
In The News
The world’s second-largest economy, China, is slowing. Easy credit
and successive fiscal stimuli, designed to keep China aloft, mean it's awash in money that is chasing an increasingly small number
of investment opportunities. China’s money supply has quadrupled since 2007, and the new cash is largely trapped inside the country
by government capital controls.
In 2015, automakers sold a record 17.5 million cars and light trucks in the US. Unfortunately for auto investors, the days of
record sales may have come to an end. Michelle Krebs, senior analyst at Auto Trader, joined PreMarket
Prep to explain the pricing problem the auto industry is running into and why that problem will likely impact this week's
October U.S. auto sales numbers.
Blogosphere
Jack ma goes to Hollywood. Read
what the Alibaba (NYSE: BABA) CEO's
real-life script might look like.
Trending
VRX PFE BABA COH BBRY ANGI ADM AEP BRCD SRC NUGT MOS CBT
Need a laugh? Take a look at some #RejectedSaints to perk your morning up.
- This company reported Q1 EPS on Tuesday of $0.45 vs $0.45 Est, Revenue $1.04B vs $1.07B Est, and said they expect their
fiscal year 2017 revenue to increase by low to mid single digits.
- This company was rumored to be involved in to be in merger talkes with Burberry last week.
- Sympathy plays include Vera Bradley, Michael Kors and Kate Spade.
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