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Блог компании DayTraderClub | Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.

Первичные заявки на пособие по безработице продолжают устанавливать новые рекорды. На этой неделе ожидается небольшой разворот к значению 230 тысяч:
Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.

Разворот в повторных заявках на пособие уже более выраженный и он подтверждает ожидания аналитиков:
Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.


Но на длительном интервале эти перепады всё ещё слабо заметны:
Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.

Рост экспортных цен отстает от динамики роста импорта, но текущий показатель ожидается на новой вершине:

Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.

Рост индекса цен на импорт более плавный и тоже ожидается очередной максимум этого показателя:

Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.

Десятилетняя картина показывает уверенное развитие восходящего цикла в росте цен на импорт:

Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.


Все новости: 
Америка сегодня. Пособия по безработице. Индекс цен на Экспорт / Импорт.
Данные: DTC News, Briefing, Interactive, Economics, Public Sources
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84 комментария
  Asian MarketsNikkei...19319...+64.60...+0.30%.  Hang Seng...23502...-280.70...-1.20%.
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  European MarketsFTSE...7291.01...-43.60...-0.60%.  DAX...11935.11...-32.20...-0.30%.
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  Vera Bradley target lowered to $11 at Telsey Advisory Group  (9.27)Telsey Advisory Group lowers their VRA tgt to $11 from $14. Overall, it appears that significant challenges remain in what has been a slower than planned turnaround for the company. While progress has been made in its efforts to elevate its product and broaden its appeal, recent trends make visibility to the potential success of these efforts incrementally more difficult to track in their view, while the overall mall-based retail landscape at the start of the new fiscal year has been highly challenging from a traffic perspective. The upcoming departure of CFO Kevin Sierks only adds to the uncertainly in the outlook at this point. While other brands in the handbag space have looked to pare their exposure to wholesale, VRA has expanded its presence in department stores, which firm sees as an ongoing headwind. Given their cautious view and the potential for incrementally challenged visibility into next year, they maintain Market Perform.
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 Asian Markets Close: Nikkei +0.3%, Hang Seng -1.2%, Shanghai -0.7%

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note while Japan's Nikkei (+0.3%) bucked the trend thanks to an overnight retreat in the yen. The Japanese currency remains lower by 0.2% against the dollar at 114.56 after hitting 114.94 in early morning action. Participants received a solid dose of economic news, which showed a mixed inflation picture in China, as February producer prices increased a hotter-than-expected 7.8% year-over-year (expected 7.7%) while CPI increased 0.8% year-over-year (expected 1.7%; last 2.5%). Also of note, press reports from China indicate the non-performing loan ratio may climb to 1.8% in 2017 from last year's 1.7%.

  • In economic data:
    • China's February PPI +7.8% year-over-year (consensus 7.7%; last 6.9%). February CPI -0.2% month-over-month (expected 0.6%; last 1.0%); +0.8% year-over-year (expected 1.7%; last 2.5%). M2 Money Stock +11.1% year-over-year (consensus 11.4%; last 11.3%) and February New Loans CNY1.17 trillion (expected CNY920 billion; last CNY2.03 trillion)
    • Japan's January Overtime Pay +0.2% year-over-year (last -1.9%) and Average Cash Earnings +0.5% year-over-year (consensus 0.3%; last 0.5%). Machine Tool Orders +9.1% year-over-year (last 3.5%)

---Equity Markets---

  • Japan's Nikkei added 0.3%, snapping a four-session skid. SUMCO led the way with a 5.1% surge. Exporters like Yokohama Rubber, Olympus, Suzuki Motor, and Bridgestone also outperformed amid yen weakness, rising between 2.1% and 3.8%. On the downside, Toshiba tumbled 7.1% amid concerns the company will book a larger than feared loss for its U.S. nuclear operations. The stock was also pressured by speculation that the company's Q3 earnings report will be delayed even more.
  • Hong Kong's Hang Seng fell 1.2%, returning to levels from early February. Just about every index component ended lower with energy-related names like China Petrol & Chemical, China Shenhua Energy, PetroChina, and China Resources Power losing between 2.0% and 3.4%.
  • China's Shanghai Composite lost 0.7%. China Railway Hi-tech Industry, Lingyun Industrial, COSCO Shipping Specialized Carriers, Huaxin Cement, and Offshore Oil Engineering lost between 3.7% and 4.2%.
  • India's Sensex added 0.1%, remaining inside a narrow range that has held for nearly a month. Maruti Suzuki gained 1.7% while financials like SBI, AXIS Bank, and HDFC Bank added between 0.3% and 1.3%. ICICI Bank lost 0.5% while Dr Reddy's Labs was the weakest performer, falling 5.0%.

---FX---

  • USDJPY +0.3% to 114.65
  • USDCNY UNCH at 6.9102
  • USDINR -0.1% to 66.777
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  The Children's Place target raised to $135 at Telsey Advisory Group  (118.15)Telsey Advisory Group raises their PLCE tgt to $135 from $110. It is clear that PLCE continues to perform well in a competitive, slow growth childrenswear market, as it beats estimates and raises guidance. co continues to benefit from its inventory mgmt, allocation and replenishment, planning and forecasting, and markdown optimization systems initiatives. As a result, co has generated AUR and margin gains despite difficult traffic conditions and a highly promotional space. The runway of systems benefits looks to continue into 2017, while digital initiatives still remain in the early stages. While the positive quarter-to-date comp trends and annual earnings guidance provided significant (18%+) trading upside yesterday, firm believes investors can still see more measured gains from here as PLCE becomes one of the bright spots in the retail landscape. However, with a new year's guidance on the books, the magnitude of earnings upside could begin to moderate as co begins to cycle against the benefits of its systems enhancements, and the stock could take a breather after such a strong run.
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 On The Wires
  • Northwell Health's Feinstein Institute for Medical Research and United Therapeutics Corporation (UTHR) announced a strategic partnership focused on the application of bioelectronic medicine and cell therapy to cardiology, hypertension and post-transplant tolerance induction.
  • Cellcom Israel Ltd. (CEL) announced that following previous reports regarding a 3G and 4G network sharing and 2G hosting services agreement with Electra Consumer Products Ltd., or Electra, to be adopted by Golan Telecom Ltd., or Golan Telecom, upon and subject to Golan Telecom's share capital being purchased by Electra, both the Network Sharing Agreement and the Share Purchase Agreement were approved by the Israeli Antitrust commissioner. The agreements further require the approval of the Israeli Ministry of Communications.
  • Leidos (LDOS) announced it was awarded an indefinite-delivery/indefinite-quantity (IDIQ) contract from the U.S. Air Force to provide research and development for electromagnetic systems. This cost-plus-fixed-fee IDIQ contract has a five-year base period of performance with a total contract value of $38 million that includes an initial cost-plus-fixed-fee task order for $11 million. Work will primarily be performed at Kirtland Air Force Base, N.M. for the Air Force Research Laboratory.
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  American Renal Associates downgraded to Market Perform from Outperform at Wells Fargo  (18.41)
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  Itron initiated with a Mkt Outperform at JMP Securities; tgt $75  (58.70)
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  Global Brass and Copper downgraded to Market Perform from Outperform at William Blair  (36.60)
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  Semtech target raised to $42 from $35 at DA Davidson on beat and raise qtr  (34.30)
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  Himax Tech upgraded to Buy at Mizuho  (7.66)
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  ABM Industries upgraded to Outperform at Robert W. Baird; tgt raised to $50  (42.50)Robert W. Baird upgrades ABM to Outperform from Neutral and raises their tgt to $50 from $46. Firm admits they were (and remain) early believers in mgmt's turnaround story with more recent caution centered on high expectations and market oversight of a large legal settlement. With evidence of continued strong operational progress, however, easy near-term comps, and likely upside to guidance, they return to their positive recommendation, highlighting ABM as a defensive, multi-year growth story, offering solidly double-digit returns and possible upside into the low $50s, on good execution. Tax reform and a late 2017 analyst day are intermediate-term catalysts.
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  Orbital ATK target raised to $120 from $85 at Stifel following the solid results and backlog; Buy  (96.82)
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  Tetraphase Pharmaceuticals target raised to $7 at Stifel; Hold  (6.20)Stifel raises their TTPH tgt to $7 from $5 as they continue to find TTPH shares increasingly interesting ahead of YE17 P3 IGNITE4 data and FY17 P1 data read-outs for pipeline assets, which they believe could prove longer-term sources of additional value (particularly TP-6076). Firm acknowledges the prospect of complicated intra-abdominal infections (cIAI) as a standalone indication for IV eravacycline isn't likely to meaningfully shift investor enthusiasm into overdrive. However, they view potentially positive IGNITE4 data as an important de-risking event, which should increase anticipation around P3 IGNITE3 data in complicated urinary tract infections (cUTI) — the much larger gram-negative indication in which the once-daily (QD) dosing profile of IV eravacycline and specific pathogen coverage can better serve as a point of competitive differentiation. They view any positive update on the viability of an oral eravacycline formulation (expected 3Q17) as another potential source of longer-term upside unaccounted for in their model.
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  Amplify Snack Brands target lowered to $8.50 at Wedbush; Neutral  (8.95)Wedbush lowers their BETR tgt to $8.50 from $9 as they expect a combination of decelerating top line growth and a number of gross margin headwinds to result in near- to medium-term EPS growth below expectations. However, firm believes current valuation largely incorporates these headwinds.
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  Ascendis Pharma downgraded to Mkt Perform from Outperform at Leerink Partners  (29.70)
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  Tech Data upgraded to Buy from Hold at Needham  (89.87)
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  Aerie Pharma downgraded to Mkt Perform from Strong Buy at Raymond James  (49.65)
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  Amgen and INCY both initiated with Neutral ratings at UBS  (177.78)
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  Regeneron Pharma, VRTX, XLRN initiated with Buy ratings at UBS  (381.37)
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  Tesla initiated with a Mkt Perform at Bernstein; tgt $250  (246.87)
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  Overnight Treasury Summary

ECB Decision on Deck

  • Today is the two-year anniversary of the European Central Bank's asset purchase program and the ECB Governing Council will release its latest monetary policy decision at 07:45 ET. Policymakers are widely expected to keep policy on its current path, which includes a reduction of the EUR80 bln/month asset purchases to EUR60 bln/month, beginning on April 1. Some analysts are concerned that the program will run out of eligible securities to buy as soon as June, having already bought EUR1.5 tln of bonds and other assets. U.S. Treasuries are trading little-changed ahead of the announcement after data released overnight showed that Chinese consumer prices unexpectedly decline in February. The big story in markets over the past 24 hours has been the sharp drop in oil prices and WTI crude for April delivery now trades down 2.29% to $49.13/bbl. WTI has traded almost exclusively between $52 and $56/bbl. since December and so this is a dramatic move indeed. The U.S. Dollar Index is down 0.03% to 102.04 and the S&P 500 is set to open down a point to 2,362. Gold is losing 0.21% to $1,206.9/troy oz.
  • Yield Check:
    • 2-yr: unch at 1.35%
    • 5-yr: unch at 2.10%
    • 10-yr: unch at 2.57%
    • 30-yr: +1 bp to 3.16%
  • International News:
    • China's consumer price index unexpectedly fell by 0.2% m/m in February (+0.8% y/y) after increasing 1.0% in January
      • China's producer price index was up 7.8% y/y in February, edging past expectations after 6.9% growth in January
      • Aggregate social financing rose by RMB1.15 tln in February after soaring by RMB3.73 tln in January
      • The broad money supply, measured by M2, was up 11.1% in February, defying expectations for faster growth after an 11.3% print in January
    • In Japan, M2 grew by 4.2% y/y in February, matching expectations and accelerating from January's 4.0% growth
    • In France, nonfarm payrolls rose by 0.4% q/q in the fourth quarter, matching both expectations and Q3's growth
    • Unemployment in Greece was unchanged at 23.1% in December
    • Switzerland's unemployment rate remained at a seasonally adjusted 3.3% in February, as expected
  • Data out Today:
    • February Export Prices ex-ag and Import Prices ex-oil (08:30 ET)
    • Initial Jobless Claims for the week ending 3/4 and Continuing Jobless Claims for the week ending 2/25 (08:30 ET)
    • Natural Gas Inventories for the week ending 3/4 (10:30 ET)
  • Treasury Auction:
    • $10 bln 30-year Treasury auction (reopening, results at 13:00 ET)
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  BancorpSouth initiated with a Neutral at Piper Jaffray  (31.10)
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 On The Wires
  • Kratos Defense & Security Solutions (KTOS) announced that its Unmanned Systems Division recently received a $5.6 mln contract award from a U.S. Government Agency for High Performance Unmanned Aerial Target Drone Systems. Kratos is a leading provider of high performance jet powered unmanned aerial drone systems, vehicles and aircraft for tactical and weapon systems exercise. Under the contract award, the Unmanned Aerial Drone Systems will be produced in a secure Kratos manufacturing facility. Due to customer related and other considerations, no additional information will be provided related to this contract award.
  • Constant Contact, an Endurance International Group (EIGI) company, announced the launch of its email marketing services in India. Constant Contact aims to support this market fully and help small businesses in India build successful, lasting customer relationships.
  • The Tata Motors Group (TTM) global wholesales in February 2017, including Jaguar Land Rover, were at 103,064 nos., higher by 3%, over February 2016. Cumulative wholesales for the fiscal were 1,025,301 nos., higher by 9%, over FY15-16.
  • Galena Biopharma (GALE) announced it has engaged Canaccord Genuity, Inc. as its financial advisor to assist in the previously announced strategic alternative review process. Additionally, the co disclosed that it will issue its financial results for the fourth quarter and year-end 2016.
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  Investar initiated with a Overweight at Piper Jaffray  (19.95)
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  First Potomac Realty upgraded to Buy from Hold at SunTrust  (9.53)
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  European Markets Update: FTSE -0.8%, DAX -0.2%, CAC -0.2%

Major European indices trade mostly lower while Spain's IBEX (+0.4%) outperforms, extending to levels not seen since late 2015. The European Central Bank will release its policy stance shortly, but the market does not expect any major changes. The euro is up 0.2% against the dollar at 1.0560. Elsewhere, Greek government spokesman Dimitris Tzanakopoulos said the government hopes to have a staff-level deal in time for the Eurogroup meeting on March 20. Also of note, Scottish First Minister Nicola Sturgeon pointed to the fall as a likely time for a second Scottish independence referendum; however, a decision to call a second vote has yet to be made.

  • Economic data was limited:
    • France's Q4 Nonfarm Payrolls +0.4% quarter-over-quarter, as expected (last 0.4%)
    • Swiss February Unemployment Rate held at 3.3%, as expected

---Equity Markets---

  • UK's FTSE is lower by 0.8% with miners, energy names, and select consumer stocks leading the retreat. BHP Billiton, Anglo American, Glencore, Antofagasta, Rio Tinto, and Fresnillo are down between 1.3% and 6.0% while Royal Dutch Shell and BP are down 3.2% and 2.1%, respectively. Food retailers like Morrison Supermarkets, Sainsbury, and Tesco show losses between 1.9% and 5.9% after Morrison reported disappointing results.
  • Germany's DAX has shed 0.2%. BMW is down 3.3% after missing quarterly expectations while peers Volkswagen and Daimler show respective losses of 1.7% and 0.7%. On the upside, Adidas, Lufthansa, and Deutsche Bank are up between 1.0% and 2.1%.
  • France's CAC is down 0.2%. Carrefour has slumped 4.8% in reaction to below-consensus results while growth-sensitive names like ArcelorMittal, TechnipFMC, Total, Michelin, Peugeot, and Renault show losses between 0.7% and 2.4%. Financials Credit Agricole, Societe Generale, and BNP Paribas outperform with gains between 1.0% and 1.2%.
  • Spain's IBEX trades up 0.4%. Financials have shown relative strength with Caixabank, BBVA, Bankia, Banco Popular, Banco Sabadell, Bankinter, and Santander advancing between 0.4% and 1.9%.
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  Tech Data upgrade details — to Buy at Needham; tgt $107  (89.87)Needham upgrades TECD to Buy from Hold and sets target price at $107 as they believe that the temporary uncertainty created by the lack of F1Q guidance (due to the timing of the close of the Avnet Tech Solutions deal) creates a window for us to become more positive on TECD. Co's execution in F17 was extremely impressive, in their view, gaining share in key areas while improving margins and EPS. With their expanded solutions business driving material accretion, firm sees upside to the $107 range based on 12x F18 EPS of $8.93.
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  Early premarket gappersGapping up: APRI +32.7%, VVUS +26.9%, OCRX +20.9%, ELF +16.8%, NWPX +11.3%, SMTC +6.4%, SHLD +5.6%, CMTL +4.7%, ERJ +4.6%, HIMX +4.4%, PXLW +3.9%, FOLD +3.9%, RAD +3.2%, GNC +3.1%, MUX +2.7%, ERII +2.3%, BBVA +2.2%, JONE +2.2%, CRIS +2%, KEYW +1.9%, DB +1.8%, SHLO +1.7%, GMS +1.6%, UNFI +1.5%, NOK +1.4%, VRX +1.3%, ERIC +1.3%, IMOS +1.3%, SAN +0.9%, SIG +0.9%, PLUG +0.9%, SSYS +0.9%, INAP +0.9%, TTPH +0.8%, SXE +0.7%, PRTY +0.7%, CS +0.6%

Gapping down: TLRD -29%, HZN -21.9%, RATE -15.5%, NSYS -12.1%, CGNT -11.8%, SPPI -10%, WATT -6.9%, VNET -6.7%, CWH -4.8%, PCOM -4.6%, FRO -4.5%, BCRX -4.3%, HEAR -4.3%, TVIA -3.8%, PLNT -3.6%, FGP -3.4%, RIG -3.2%, SBGL -3.2%, CHK -2.8%, BETR -2.8%, SFS -2.8%, CDE -2.7%, CSTM -2.7%, NE -2.6%, TGTX -2.5%, VALE -2.5%, IGT -2.5%, ESV -2.4%, AU -2.3%, TNDM -2.3%, BBL -2.2%, FCX -2.2%, BHP -2.2%, X -2.1%, GFI -2%, COKE -2%, RDS.A -1.9%, SPLS -1.9%, RIO -1.8%, HMY -1.8%, MRO -1.8%, DVN -1.8%, CLF -1.8%, PBR -1.7%, RUN -1.7%, TOT -1.4%, AA -1.4%, XXII -1.1%
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  Points International target lowered to $13 at RBC Capital Mkts  (7.60)RBC Capital Mkts lowers their PCOM tgt to $13 from $15. Q4/16 results were mixed, with lower than expected revenue due to promotional volatility offset by higher than expected gross margins due to revenue mix. While 2017 gross profit and adjusted EBITDA guidance was largely in-line, new segmented adjusted EBITDA guidance implies meaningful upside to our 2018/2019 adjusted EBITDA forecast.
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  Gilead Sciences: Good news is long-term HCV «tail» demand is there… but need some «pearls» added on — RBC  (69.70)RBC thinks it will take a few quarters to get visibility on whether HCV scripts are declining more, less, stabilizing, or flattening… when they do «flatten» we think the stock could start to stabilize since value investors will think near-term bottom on downward earnings revisions will stop (consensus been going down for 1-2 years now...). They think it will take at least 2 quarters of hitting numbers for GILD stock to act better and they'll need to do some «string of pearls» deals to improve pipeline visibility over next 1-2+ years. They've said KITE is an interesting angle at $4B cap, a $1B drug launching with US/EU rights, and a technology cellular therapy platform for cancer. But bottom line is GILD will require patience to build up a pipline....meanwhile HCV needs to stabilize and Phase III bictegravir data this summer should (and needs to) look good.
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  EPAM Systems target raised to $82 at Monness Crespi & Hardt  (73.32)Monness Crespi & Hardt raises their EPAM tgt to $82 from $75. Despite mixed quarter results and likely softness from the Barclays account, firm believes that EPAM enjoys a very strong setup for 2017. They also see organic rev growth guidance of 20% Y/Y as achievable, as co already has visibility into 90%+ of its rev streams for the year across all core verticals. In addition, they believe that ~$180-$200 MM in FCF may pave the way for at least two to three tuck-ins in 2017 or, alternatively, may lead to a larger deal, partially financed by debt. Per firm's industry-wide analysis and EPAM's strong fundamentals, as well as in light of the recent market multiple expansion, they believe that EPAM shares now merit a 20x PE multiple on 2018 earnings, up from ~18x.
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  On The Wires
  • FirstService Corporation (FSV) announced today that it has acquired one of the largest franchised operations within its California Closets franchise system, encompassing the southern California areas in Orange County, Long Beach and Palm Desert(«California Closets Orange County»). Leslie, CEO, and Scott Seigel, President, co-founders and owners of California Closets Orange County, will continue to lead its day-to-day operations. Following this acquisition, California Closets now has 14 company-owned operations among its 80 total franchised territories. Terms of the transaction were not disclosed.
  • Mikros Systems Corporation (MKRS) announced that it has received a three-year $11.5 million order from the U.S. Navy for engineering and technical support of its ADEPT maintenance workstation. The award is the second Delivery Order issued under Mikros' Indefinite Delivery Indefinite Quantity multi-year $35.1 million contract with the Naval Surface Warfare Center in Crane, IN.
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  Virtusa downgraded to Hold at Maxim Group as EPS recovery in FY18 will be slower than expected  (32.18)Maxim Group downgrades VRTU to Hold from Buy. On its 3QF17 conference call, mgmt said it expects 150-200 basis points of margin expansion in F2018, but consensus suggests a much steeper recovery. Furthermore, the Indian outsourcing industry is facing potential changes to visa regulations that could increase the cost or make it more difficult to obtain visas. Industry growth has slowed over the last several years and slumped to an estimated 6% in F2017 and firm does not forecast a significant acceleration in the growth rate. While a profit recovery is well underway for VRTU, slower industry growth and a need to invest in digital and cloud will cap margin expansion in F2018, in firm's opinion. Firm downgrades as they would reevaluate their thesis should VRTU shares pull back without a significant change to their ests. Firm believes investors should be cautious ahead of F2018 guidance.
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  American Airlines lowers Q1 unit rev guidance, reaffirms adj. pre-tax margin  (44.89)
  • Expects its first quarter 2017 total revenue per available seat mile (TRASM) to be up ~1.5 percent to 3.5 percent year-over-year vs. its previous guidance of up 2.5 percent to 4.5%. This decrease is due primarily to the Company's year-to-date systemwide mainline completion factor of 98.9 percent vs. 97.7 percent in the same period last year. The higher completion factor is positive for customer service and profitability, but the additional ASMs generally reduce TRASM results.
  • The Company continues to expect its first quarter pre-tax margin excluding special items1 to be between 3 percent and 5 percent. American Airlines Group's total revenue passenger miles (RPMs) were 15.2 billion, down 3.3 percent versus February 2016.
  • Total capacity was 19.6 billion available seat miles (ASMs), down 3.7 percent versus February 2016. Total passenger load factor was 77.3 percent, up 0.3 percentage points versus February 2016.
  • Note DAL lowered Q1 unit rev on Tuesday
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  European Summary

ECB Keeps Policy Unchanged, Draghi to Give Press Conference

  • European sovereign debt is mostly trading higher this morning after the European Central Bank announced that monetary policy would stay on its current course. The accompanying statement said that «the Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.» The asset purchase program is still expected to taper from EUR80 bln/month currently to EUR60 bln/month on April 1. The ECB statement said that the purchases will continue through December 2017, «or beyond, if necessary.» ECB President Mario Draghi will hold a press conference at 08:30 ET
    • Deposit facility: -0.40%
    • Main refinancing operations: 0.00%
    • Marginal lending facility: 0.25%
  • European Economic Data:
    • In France, nonfarm payrolls rose by 0.4% q/q in the fourth quarter, matching both expectations and Q3's growth
    • Unemployment in Greece was unchanged at 23.1% in December
    • Switzerland's unemployment rate remained at a seasonally adjusted 3.3% in February, as expected
  • Yield Check:
    • France, 10-yr OAT: -3 bps to 1.00%
    • Germany, 10-yr bund: +1 bp to 0.38%
    • Greece, 10-yr note: -2 bps to 7.08%
    • Italy, 10-yr BTP: -4 bps to 2.22%
    • Portugal, 10-yr PGB: -2 bps to 3.95%
    • Spain, 10-yr ODE: -4 bps to 1.77%
    • U.K., 10-yr gilt: -1 bp to 1.14%
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  American Intl jumps 2.5% after disclosing that President and CEO Peter D. Hancock plans to resign  (63.44)
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 S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -3.10.

The cautious sentiment that has defined the week thus far continues this morning as equity futures point to a lower open for Thursday's session. The S&P 500 futures trade three points below fair value.

Crude oil headlined Wednesday's action, plunging 5.3%, after the latest inventory report from the Energy Information Administration (EIA) showed a huge build of 8.2 million barrels (consensus +2.0 million). The bearish sentiment has carried over into Thursday morning with the energy component trading 2.3% lower at $49.13/bbl.

U.S. Treasuries trade relatively flat this morning after giving up some ground yesterday following the hotter than expected ADP National Employment Report for February (298,000 vs 188,000 est.), which provided further justification for the anticipated March rate hike. The benchmark 10-yr yield is unchanged at 2.56%.

Also of note, the European Central Bank just released its latest policy directive, leaving rates unchanged, as was widely expected. ECB President Draghi will hold a call at 8:30 ET.

On the data front, investors will receive February Export/Import Prices and Initial Claims (Briefing.com consensus 240,000) at 8:30 ET.

In U.S. corporate news:

  • Tailored Brands (TLRD 16.83, -6.54): -28.0% after missing top and bottom line estimates in addition to issuing downbeat guidance. The company, which owns Men's Wearhouse and Jos. A. Bank, also noted that it is in negotiations to restructure its Macy's (M 31.88, +0.11) tuxedo agreement, which hasn't ramped.
  • Staples (SPLS 8.79, -0.17): -1.9% after reporting worse than expected revenues.
  • Signet Jewelers (SIG 63.00, -1.40): -2.2% after issuing disappointing guidance. 
  • Camping World Holdings (CWH 33.86, -1.63): -4.6% after missing revenue estimates. 

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note while Japan's Nikkei bucked the trend thanks to an overnight retreat in the yen. Japan's Nikkei +0.3%, Hong Kong's Hang Seng -1.2%, China's Shanghai Composite -0.7%, India's Sensex +0.1%.
    • In economic data:
      • China's February PPI +7.8% year-over-year (consensus 7.7%; last 6.9%). February CPI -0.2% month-over-month (expected 0.6%; last 1.0%); +0.8% year-over-year (expected 1.7%; last 2.5%). M2 Money Stock +11.1% year-over-year (consensus 11.4%; last 11.3%) and February New Loans CNY1.17 trillion (expected CNY920 billion; last CNY2.03 trillion)
      • Japan's January Overtime Pay +0.2% year-over-year (last -1.9%) and Average Cash Earnings +0.5% year-over-year (consensus 0.3%; last 0.5%). Machine Tool Orders +9.1% year-over-year (last 3.5%)
    • In news:
      • Participants received a solid dose of economic news, which showed a mixed inflation picture in China.
      • Also of note, press reports from China indicate the non-performing loan ratio may climb to 1.8% in 2017 from last year's 1.7%.
  • Major European indices trade mostly lower while Spain's IBEX outperforms, extending to levels not seen since late 2015. UK's FTSE -0.8%, Germany's DAX -0.2%, France's CAC -0.3%, Spain's IBEX +0.4%.
    • Economic data was limited:
      • France's Q4 Nonfarm Payrolls +0.4% quarter-over-quarter, as expected (last 0.4%)
      • Swiss February Unemployment Rate held at 3.3%, as expected
    • In news:
      • The European Central Bank decided to leave interest rates unchanged, as expected. The euro is up 0.1% against the dollar at 1.0551.
      • Greek government spokesman Dimitris Tzanakopoulos said the government hopes to have a staff-level deal in time for the Eurogroup meeting on March 20.
      • Scottish First Minister Nicola Sturgeon pointed to the fall as a likely time for a second Scottish independence referendum; however, a decision to call a second vote has yet to be made.
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  Snap initiated with a Sector Perform at FBN Securities; tgt $23  (22.81)
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  Semtech: Color on Quarter  (34.30)
  • RBC raises their price target to $38 from $32, reiterates Sector Perform. The firm notes that Semtech reported a solid quarter across the board (including guidance). Specifically, the company is increasing its long-term margin range which should help the multiple sustain near-term. While they like the fundamentals of the story they remain on the sidelines due to valuation.
  • Drexel Hamilton raises their price target to $42 from $35, reiterates Buy.  The firm notes that with a healthy macro backdrop and company-specific growth drivers, SMTC delivered a strong January quarter upside and provided better-than expected April guidance. Overall, they believe Semtech is continuing on the right path, with multiple drivers contributing to sales growth and earnings leverage, which they expect to become more significant over the next few quarters.

Shares of SMTC are trading up ~6.4% in the pre-market at $36.50/share

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  Casey's General downgraded to Neutral from Buy at Northcoast  (108.66)
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  Eagle Bulk Shipping initiated with a Buy at Seaport Global Securities; tgt $7  (5.77)
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 On The Wires
  • KBR, Inc. (KBR) announced that its Government Services business, KBRwyle, has been notified it was one of eleven awardees of a multi-award task order contract by the U.S. Air Force's Civil Engineer Center for engineering and construction services in support of U.S. military operations worldwide. Under the Worldwide Engineering & Construction (WE&C) contract, KBRwyle will have the opportunity to compete on task orders to provide a range of design, construction and engineering services for the U.S. Air Force. The contract has a five-year base period and three one-year options with a maximum ceiling value of $950 million.
  • WellCare Health Plans (WCG) announced today that it expects the additional interest expense and the financing costs associated with the new 5.25% senior unsecured notes due 2025 net of the reduction in interest expense resulting from the anticipated use of proceeds therefrom to redeem and repay WellCare's outstanding indebtedness to be approximately ($0.16) per diluted share in 2017. These additional expenses do not require WellCare to change its previously issued 2017 guidance for adjusted earnings per share of $6.00 to $6.25 per diluted share. Additionally, in connection with the redemption and repurchase of its outstanding $900.0 million in principal amount of 5.75% notes due 2020, WellCare will incur a one-time loss on extinguishment of debt of approximately ($0.36) per diluted share related to the redemption premium, write-off of associated deferred financing costs and write-off of associated premiums paid on the 2020 notes. This one-time charge will be excluded from WellCare's adjusted earnings per diluted share.
  • Currencycloud, the world's leading cross border payments platform today announced £20 million (US $25M) in Series D funding with a new investment from GV (formerly Google (GOOG) Ventures) and additional funding from the existing investors — Notion Capital, Sapphire Ventures, Rakuten FinTech Fund, and Anthemis. Total investment in the five-year-old company now stands at £44 million ($61 million).
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 Gapping up

Gapping up
In reaction to strong earnings/guidance
:

  • VVUS +24%, BETR +21.8%, ELF +21.1%, NWPX +11.3%, SMTC +10.8%, SHLD +6.8%, CMTL +4.7%
  • ERJ +4.1%, PRTY +3.9%, GMS +3.8%, SKIS +3.3%, UNFI +3.1%, ERII +2.3%, CRIS +2%
  • KEYW +1.9%, (ALSO KEYW Holding signs a definitive agreement to acquire Sotera Defense Solutions in an all-cash transaction valued at approx. $235 miln)
  • IMOS +1.9%, BSTG +1.7%, INAP +0.9%

M&A news:

  • CNQ +2% (purchases Canadian Sands Assets from MRO and Shell), . 

Other news:

  • APRI +24.1% (completes sale of its ex-U.S. assets and rights related to Vitaros to Ferring International; co will retain its Vitaros rights in the U.S. and it remains on track to re-submit the Vitaros NDA to the FDA in the third quarter of 2017)
  • OCRX +20% (rebounding after yesterday's decline)
  • PXLW +3.9% (following late move higher)
  • FOLD +3.9% ( commences the commercial launch of the precision medicine Galafold in Italy following the final publication of reimbursement guidelines by the Ministry of Health ), RAD +3.7% (rebounding after yesterday's decline)
  • GNC +3.1% (Chief Innovation Officer disclosed purchase of 29500 shares worth approx $230K)
  • KEYW +1.9% (KEYW Holding signs a definitive agreement to acquire Sotera Defense Solutions in an all-cash transaction valued at approx. $235 miln)
  • AIG +1.9% (announced President and CEO Peter D. Hancock plans to resign)
  • VRX +1% (launches an offering of $2.5 bln senior secured notes in 2 tranches )

Analyst comments:

  • HIMX +3.1% (upgraded to Buy at Mizuho)
  • .XOG +2.1% (upgraded to Buy from Neutral at Citigroup)
  • ERIC +2% (upgraded to Buy at Goldman)
  • TEF +1% (upgraded to Buy from Hold at Deutsche Bank)
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  Rite Aid shares higher by 3% pre-market following report that Walgreens (WBA) might sell some RAD assets to Fred's (FRED) to get approval for deal  (4.65)
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  On The Wires
  • Medtronic plc (MDT) announced the launch of the IN.PACT BTK study to evaluate the effectiveness of using a drug-coated balloon in patients with below-the-knee peripheral arterial disease. This study will evaluate the IN.PACT 0.014 paclitaxel-coated percutaneous transluminal angioplasty balloon catheter. This is an investigational device, which uses Medtronic's unique IN.PACT Admiral drug coating technology. Dr. Antonio Micari of Maria Cecilia Hospital in Cotignola, Italy performed the first procedure on a patient with critical limb ischemia. Dr. Micari reports the first patient is doing well post-treatment.
  • Diebold Nixdorf, Incorporated (DBD) announced plans to close its manufacturing facility located near Budapest in Gyál, Hungary as part of the co's recently announced DN2020 multiyear business transformation program. Production activities from the Hungary site will be integrated into other facilities in the company's global manufacturing network.
  • Three months after its acquisition of Virgin America, Alaska Airlines (ALK) is growing its Bay Area footprint, adding 13 new nonstop markets from San Francisco International Airport and Mineta San Jose International Airport. The routes mark the single largest new market announcement in Alaska Airlines history. With the additional flights, Alaska Airlines and Virgin America will offer guests 125 daily nonstop flights to 42 destinations from the three major Bay Area airports.
  • Hertz Global Holdings (HTZ) announced that Hertz Europe Ltd. has launched Hertz Driver Services powered by Blacklane following a partnership agreement with Blacklane. During this first stage of the service's international rollout, Hertz's customers in Belgium, Czech Republic, France, Germany, Italy, Luxemburg, Netherlands, Spain and the UK can easily book reliable ground transportation to complement their car rental in more than 250 cities and 500 airports worldwide.
  • AveXis, Inc. (AVXS) announced topline results from the Phase 1 clinical trial of AVXS-101 in patients with SMA Type 1, and financial and operating results for the fourth quarter and full year ended December 31, 2016 on Thursday, March 16, 2017 after the close of U.S.-based financial markets. AveXis management will host a conference call and live webcast at 4:30 p.m. Eastern Daylight Time.
  • InVivo Therapeutics Holdings Corp. (NVIV) announced that a new patient has been enrolled into The INSPIRE Study at the Keck Hospital of University of Southern California. Patrick Hsieh, M.D., Principal Investigator at this site, performed the implantation approximately 82 hours after the injury occurred.
  • Cypress Semiconductor Corp. (CY) and Arrow Electronics (ARW) announced an expanded collaboration to jointly enable internet-of-things innovations.
  • NxStage Medical (NXTM) announced a series of new research results that highlight the potential for on-site hemodialysis with the NxStage System One in skilled nursing facilities to significantly reduce Medicare costs, as well as demonstrate the clinical benefits of more frequent home hemodialysis. The research will be presented at the Annual Dialysis Conference 2017 being held March 11-14, 2017, in California.
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  Ericsson upgraded to Buy from Sell at Goldman; tgt raised to $7.80 from $5.70  (6.38)
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  Female Health initiates Stage 1 of a bioequivalence clinical trial designed to select the optimal formulation of its proprietary Tamsulosin Delayed Release Sachet product  (1.05)Assuming successful Stage 1 data, Stage 2 of the clinical trial will test the selected formulation from Stage 1 in a larger number of subjects versus FLOMAX. The goal is to have Stage 2 of the clinical trial completed by late May 2017. Stability data is also being collected for the commercial manufactured drug batches to allow an anticipated NDA filing late 2017 / early 2018. The expected NDA approval would be sometime in mid to late 2018.
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 Gapping down

Gapping down
In reaction to disappointing earnings/guidance
:

  • TLRD -27.9%, HZN -23.6%, RATE -13.2%, SPPI -12.4%, NSYS -12.1%, (thinly traded)
  • CGNT -11.8%, CSTM -6.7%, VNET -6.5%, WATT -6.3%, PLUG -5.7%, PME -5.3%, PCOM -4.6%
  • HEAR -4.3%, SPLS -3.9%, TVIA -3.8%, (also TerraVia, Bunge (BG), and BioMar Group expand their distribution agreement for AlgaPrime DHA; 'making the product commercially available at scale to salmon farmers and other participants in the aquaculture industry')
  • RUN -3.6%, FGP -3.4%, FCEL -3.3%, SFS -2.8%, TNDM -2.3%, (also files $57.5 mln share common stock offering)
  • COKE -2%, FMSA -1.8%, XXII -1.1%, SHLO -1.1%

Select metals/mining stocks trading lower:

  • SBGL -3.4%, VALE -2.5%, AU -2.5%, FCX -2.2%, BBL -2.1%, BHP -2.1%, X -2%, CLF -1.8%, RIO -1.6%, HMY -1.4%, GFI -1.3%, AA -0.8%

Select oil/gas related names showing early weakness:

  • FRO -3.8%, SM -3.8%, WLL -3%, NE -2.6%, ESV -2.6%, RDS.A -2.2%, DVN -2%, PBR -1.9%, RIG -1.5%, CHK -1.4%, TOT -1.1%

Other news:

  • NSPR -23.9% (filed a Notice of Effectiveness for a Form S-1)
  • BCRX -4.3% (to sell $45 mln of its common stock in an underwritten public offering)
  • PLNT -3.9% (commences 15 mln common stock offering by selling stockholders)
  • AAL -1.1% (reported Q1 traffic)
  • PATK -0.8% (prices 1.35 mln shares of common stock at $73.00 per share), .

Analyst comments:

  • GES -2.3% (downgraded to Underperform from Neutral at Mizuho)
  • BIIB -2% (initiated with a Sell at UBS)
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 S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -1.60.

The S&P 500 futures trade two points below fair value.

Just in, import prices excluding oil rose 0.3% in February after ticking down 0.1% in January (revised from -0.2%). Export prices excluding agriculture increased 0.3% in February after rising 0.2% in January (revised from +0.1%).

Separately, the latest weekly initial jobless claims count totaled 243,000 while the Briefing.com consensus expected a reading of 240,000. Today's tally was above the unrevised prior week count of 223,000. As for continuing claims, they declined to 2.058 million from the revised count of 2.064 million (from 2.066 million). 

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 Gapping up/down: ERJ +4%, PRTY +4%, and UNFI +3% after earnings, HIMX +3% after upgrade; RATE -13%, WATT -6%, FCEL -3% after earnings, BIIB -2% after UBS initiates with Sell

Gapping up
In reaction to strong earnings/guidance
:

  • VVUS +24%, BETR +21.8%, ELF +21.1%, NWPX +11.3%, SMTC +10.8%, SHLD +6.8%, CMTL +4.7%
  • ERJ +4.1%, PRTY +3.9%, GMS +3.8%, SKIS +3.3%, UNFI +3.1%, ERII +2.3%, CRIS +2%
  • KEYW +1.9%, (ALSO KEYW Holding signs a definitive agreement to acquire Sotera Defense Solutions in an all-cash transaction valued at approx. $235 miln)
  • IMOS +1.9%, BSTG +1.7%, INAP +0.9%

M&A news:

  • CNQ +2% (purchases Canadian Sands Assets from MRO and Shell), . 

Other news:

  • APRI +24.1% (completes sale of its ex-U.S. assets and rights related to Vitaros to Ferring International; co will retain its Vitaros rights in the U.S. and it remains on track to re-submit the Vitaros NDA to the FDA in the third quarter of 2017)
  • OCRX +20% (rebounding after yesterday's decline)
  • PXLW +3.9% (following late move higher)
  • FOLD +3.9% ( commences the commercial launch of the precision medicine Galafold in Italy following the final publication of reimbursement guidelines by the Ministry of Health ), RAD +3.7% (rebounding after yesterday's decline)
  • GNC +3.1% (Chief Innovation Officer disclosed purchase of 29500 shares worth approx $230K)
  • KEYW +1.9% (KEYW Holding signs a definitive agreement to acquire Sotera Defense Solutions in an all-cash transaction valued at approx. $235 miln)
  • AIG +1.9% (announced President and CEO Peter D. Hancock plans to resign)
  • VRX +1% (launches an offering of $2.5 bln senior secured notes in 2 tranches )

Analyst comments:

  • HIMX +3.1% (upgraded to Buy at Mizuho)
  • XOG +2.1% (upgraded to Buy from Neutral at Citigroup)
  • ERIC +2% (upgraded to Buy at Goldman)
  • TEF +1% (upgraded to Buy from Hold at Deutsche Bank)

Gapping down
In reaction to disappointing earnings/guidance
:

  • TLRD -27.9%, HZN -23.6%, RATE -13.2%, SPPI -12.4%, NSYS -12.1%, (thinly traded)
  • CGNT -11.8%, CSTM -6.7%, VNET -6.5%, WATT -6.3%, PLUG -5.7%, PME -5.3%, PCOM -4.6%
  • HEAR -4.3%, SPLS -3.9%, TVIA -3.8%, (also TerraVia, Bunge (BG), and BioMar Group expand their distribution agreement for AlgaPrime DHA; 'making the product commercially available at scale to salmon farmers and other participants in the aquaculture industry')
  • RUN -3.6%, FGP -3.4%, FCEL -3.3%, SFS -2.8%, TNDM -2.3%, (also files $57.5 mln share common stock offering)
  • COKE -2%, FMSA -1.8%, XXII -1.1%, SHLO -1.1%

Select metals/mining stocks trading lower:

  • SBGL -3.4%, VALE -2.5%, AU -2.5%, FCX -2.2%, BBL -2.1%, BHP -2.1%, X -2%, CLF -1.8%, RIO -1.6%, HMY -1.4%, GFI -1.3%, AA -0.8%

Select oil/gas related names showing early weakness:

  • FRO -3.8%, SM -3.8%, WLL -3%, NE -2.6%, ESV -2.6%, RDS.A -2.2%, DVN -2%, PBR -1.9%, RIG -1.5%, CHK -1.4%, TOT -1.1%

Other news:

  • NSPR -23.9% (filed a Notice of Effectiveness for a Form S-1)
  • BCRX -4.3% (to sell $45 mln of its common stock in an underwritten public offering)
  • PLNT -3.9% (commences 15 mln common stock offering by selling stockholders)
  • AAL -1.1% (reported Q1 traffic)
  • PATK -0.8% (prices 1.35 mln shares of common stock at $73.00 per share), .

Analyst comments:

  • GES -2.3% (downgraded to Underperform from Neutral at Mizuho)
  • BIIB -2% (initiated with a Sell at UBS)
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  Overseas Research Calls

Upgrades

  • Cobham plc (CBHMF) upgraded to Buy from Neutral at UBS
  • Croda Intl (COIHY) upgraded to Buy from Hold at Investec
  • Air France-KLM (AFLYY) upgraded to Buy from Hold at Societe Generale
  • Koninklijke DSM (RDSMY) upgraded to Neutral from Underweight at JP Morgan
  • Caixabank (CAIXY) upgraded to Buy from Neutral at UBS

Downgrades

  • Aberdeen Asset Management (ABDNY) downgraded to Add from Buy at Numis

Miscellaneous

  • Essilor International (ESLOY) initiated with an Overweight at Barclays
  • GlaxoSmithKline (GSK) inititated with a Reduce at Kepler
  • AstraZeneca (AZN) initiated with a Buy at Liberum
  • Roche Hldg (RHHBY) initiated with a Hold at Liberum
  • Sanofi (SNY) initiated with a Hold at Liberum
  • GlaxoSmithKline (GSK) initiated with a Buy at Liberum
  • Shire plc (SHPG) initiated with a Buy at Liberum
  • Novartis AG (NVS) initiated with a Buy at Liberum
  • Husky Energy (HUSKF) initiated with a Hold at Canaccord Genuity
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 Filings, Offerings and Pricings

Filings:

  • Century Aluminum (CENX) files to withdraw Registration Statement on Form S-3 originally filed on March 7, 2016
  • CIBC (CM) filed for $10 bln mixed securities shelf offering
  • Editas Medicine (EDIT) files for 800k share common stock offering by the selling stockholders
  • Fluidigm (FLDM) files for $125 mln mixed securities shelf offering
  • Tandem Diabetes Care (TNDM) files $57.5 mln share common stock offering

Offerings:

  • BioCryst Pharma (BCRX) to sell $45 mln of common stock in an underwritten public offering
  • Planet Fitness (PLNT) commences 15 mln common stock offering by selling stockholders
  • Sinclair Broadcast (SBGI) commences an underwritten public offering of 12.0 million primary shares of Class A common stock
  • TG Therapeutics (TGTX) to offer and sell shares of its common stock in an underwritten public offering

Pricings:

  • CEL-SCI Corp (CVM 0.11) announces $1.5 mln direct offering; co will issue approx. 15 mln shares of common stock at $0.10/share, Concurrently in a private placement, the Company will issue warrants to purchase up to 15 million shares of its common stock
  • Equinix (EQIX 363.43) prices offerings of 5,277,778 shares of common stock at $360.00 per share and $1.25 bln in of its 5.375% Senior Notes due 2027
  • Patrick Industries (PATK 75.20) prices 1.35 mln shares of common stock at $73.00 per share
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 S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: -0.40.

The S&P 500 futures trade in line with fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mostly lower note while Japan's Nikkei (+0.3%) bucked the trend thanks to an overnight retreat in the yen. The Japanese currency remains lower by 0.3% against the dollar at 114.65 after hitting 114.94 in early morning action. Participants received a solid dose of economic news, which showed a mixed inflation picture in China, as February producer prices increased a hotter-than-expected 7.8% year-over-year (expected 7.7%) while CPI increased 0.8% year-over-year (expected 1.7%; last 2.5%). Also of note, press reports from China indicate the non-performing loan ratio may climb to 1.8% in 2017 from last year's 1.7%.

  • In economic data:
    • China's February PPI +7.8% year-over-year (consensus 7.7%; last 6.9%). February CPI -0.2% month-over-month (expected 0.6%; last 1.0%); +0.8% year-over-year (expected 1.7%; last 2.5%). M2 Money Stock +11.1% year-over-year (consensus 11.4%; last 11.3%) and February New Loans CNY1.17 trillion (expected CNY920 billion; last CNY2.03 trillion)
    • Japan's January Overtime Pay +0.2% year-over-year (last -1.9%) and Average Cash Earnings +0.5% year-over-year (consensus 0.3%; last 0.5%). Machine Tool Orders +9.1% year-over-year (last 3.5%)

---Equity Markets---

  • Japan's Nikkei added 0.3%, snapping a four-session skid. SUMCO led the way with a 5.1% surge. Exporters like Yokohama Rubber, Olympus, Suzuki Motor, and Bridgestone also outperformed amid yen weakness, rising between 2.1% and 3.8%. On the downside, Toshiba tumbled 7.1% amid concerns the company will book a larger than feared loss for its U.S. nuclear operations. The stock was also pressured by speculation that the company's Q3 earnings report will be delayed even more.
  • Hong Kong's Hang Seng fell 1.2%, returning to levels from early February. Just about every index component ended lower with energy-related names like China Petrol & Chemical, China Shenhua Energy, PetroChina, and China Resources Power losing between 2.0% and 3.4%.
  • China's Shanghai Composite lost 0.7%. China Railway Hi-tech Industry, Lingyun Industrial, COSCO Shipping Specialized Carriers, Huaxin Cement, and Offshore Oil Engineering lost between 3.7% and 4.2%.
  • India's Sensex added 0.1%, remaining inside a narrow range that has held for nearly a month. Maruti Suzuki gained 1.7% while financials like SBI, AXIS Bank, and HDFC Bank added between 0.3% and 1.3%. ICICI Bank lost 0.5% while Dr Reddy's Labs was the weakest performer, falling 5.0%.

Major European indices trade mostly lower while Spain's IBEX (+0.8%) outperforms, extending to levels not seen since late 2015. The European Central Bank released its latest policy directive earlier this morning, leaving rates unchanged, as was widely expected. The euro is up 0.2% against the dollar at 1.0564. Elsewhere, Greek government spokesman Dimitris Tzanakopoulos said the government hopes to have a staff-level deal in time for the Eurogroup meeting on March 20. Also of note, Scottish First Minister Nicola Sturgeon pointed to the fall as a likely time for a second Scottish independence referendum; however, a decision to call a second vote has yet to be made.

  • Economic data was limited:
    • France's Q4 Nonfarm Payrolls +0.4% quarter-over-quarter, as expected (last 0.4%)
    • Swiss February Unemployment Rate held at 3.3%, as expected

---Equity Markets---

  • UK's FTSE is lower by 0.5% with miners, energy names, and select consumer stocks leading the retreat. BHP Billiton, Anglo American, Glencore, Antofagasta, Rio Tinto, and Fresnillo are down between 0.2% and 5.4% while Royal Dutch Shell and BP are down 2.8% and 1.7%, respectively. Food retailers like Morrison Supermarkets, Sainsbury, and Tesco show losses between 1.2% and 5.9% after Morrison reported disappointing results.
  • Germany's DAX trades near its flat line. BMW is down 3.1% after missing quarterly expectations while peers Volkswagen and Daimler show respective losses of 1.2% and 0.6%. On the upside, Adidas, Lufthansa, and Deutsche Bank are up between 0.8% and 2.9%.
  • France's CAC is down 0.1%. Carrefour has slumped 4.6% in reaction to below-consensus results while growth-sensitive names like ArcelorMittal, TechnipFMC, Total, Michelin, Peugeot, and Renault show losses between 0.7% and 2.5%. Financials Credit Agricole, Societe Generale, and BNP Paribas outperform with gains between 0.8% and 1.2%.
  • Spain's IBEX trades up 0.8%. Financials have shown relative strength with Caixabank, BBVA, Bankia, Banco Popular, Banco Sabadell, Bankinter, and Santander advancing between 0.5% and 2.2%.
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  Vedanta Ltd initiated with a Overweight at Morgan Stanley  (14.89)
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  Fed Agricult Mortg raises quarterly dividend to $0.36/share from $0.26/share  (55.28)
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SPY шорт
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 AAPL
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IGT убивают
 нефть и рубль интересно
 MOMO
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сегодня маркетмейкер не вышел на работу. у всех акций огромные спреды ))
 Pot с чата
 FB
 AMD
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SPY купил
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 BABA
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 MSFT удерживают
 ENB с чта
 JNJ
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 HAL
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 WDC
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 WFC
SPY присматриваю на покупку если удержат
CAT
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 AMD сильный
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KITE на вивапе
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LB
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 KR
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FB
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