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The Market In 5 Minutes For December 9


BZ News Desk Focus

Restoration Hardware Holdings Inc (NYSE: RH) Reports Q3 Adj EPS $0.20 vs $0.16 Est, Revenue $549M vs $527.13M Est Broadcom (NASDAQ: AVGO) Reports Q4 Adj. EPS $3.47 vs $2.51 in Same Qtr. Last Year, Sales $4.146B vs $1.853B YoY

Finisar Corporation (NASDAQ: FNSR) Reports Q2 GAAP EPS $0.43, Adj. EPS $0.58 vs. Est. $0.46, Rev. $369.86M vs. Est. $361M

Fred's, Inc (NASDAQ: FRED) Reports Q3 GAAP EPS $(1.05), Sales $516.645M vs $514M Est.

Macro Focus

The Dow Jones Industrial Average, Nasdaq, and S&P 500 all finished Thursday at all-time highs. The DJIA closed up 65.19 points to finish at 19,614.81, while the Nasdaq rose 23.6 points to 5,417.36 and the S&P 500 rose 4.84 points to finish at 2,246.19.

The USO finished Thursday up 2%, with Light Crude oil rising 0.24% to 50.96.

  • The University of Michigan Consumer Sentiment Index for December will be released at 10 a.m. ET
  • Wholesale Inventories for October will be released at 10 a.m. ET
  • Baker Hughes Rig Counts for last week will be released at noon ET

Sell-Side’s Most Noteworthy Calls

JP Morgan Downgrades CDW Corp (NASDAQ: CDW) from Overweight to Neutral
Argus Research Downgrades Abercrombie & Fitch Co. (NYSE: ANF) from Hold To Sell

Deal Talk

E I Du Pont De Nemours And Co (NYSE: DD) CEO Edward Breen said Thursday that Donald Trump is not likely to impact their merger with Dow Chemical Co (NYSE: DOW), according to Dow Jones. “We're very far down the road,” he said.

And 8-K from Microsoft Corporation (NASDAQ: MSFT) shows the company has completed its acquisition of LinkedIn Corp (NYSE: LNKD).

Shares of Comerica Incorporated (NYSE: CMA) spiked on Wednesday and Thursday, after Benzinga reported that the board might be considering selling the company, taking advantage of the recent stock appreciation. Dick Bove said the company’s management team “has structured its balance sheet to facilitate a sale and bring in more liquidity.”

In The News

John Glenn, the former astronaut and senator who became the first American to orbit the Earth back in 1962, passed away Thursday at the age of 95.

Benzinga exclusively reported on Thursday that Gene Munster, one of Wall Street’s top Apple analysts, is leaving Piper Jaffray to start a venture capital firm.


Earlier this week Bloomberg released its 2016 Jealousy List, or 40-odd stories Bloomberg editors and wish they’d written this year. The list includes stories from ProPublica, The New York Times, The Washington Post, Buzzfeed, GQ, Breitbart, and more. Happy reading.