2013-08-16 Events

• ECONOMY:
    * 8:30am: Non-farm Productivity, 2Q prelim est 0.6%
    * 8:30am: Housing Starts, July, est. 900k (prior 836k)
    * 9:55am: UMich Consumer Sentiment, Aug. prelim., est. 85.2
    * 11am: Fed to purchase $2.75b-$3.5b debt in 2020-2023 sector
    * 1pm: Baker Hughes rig count
• EQUITY PREVIEW:
    * Applied Materials (AMAT): 3Q sales miss; Dickerson named CEO
    * Aspen Technology (AZPN): 1Q adj. EPS view above est.
    * Bally Technologies (BYI): 4Q rev. beat est.
    * Dell (DELL): 2Q net fell 72%; adj. EPS beat est. by 1c
    * First Marblehead (FMD): IRS proposes $300m adjustment
    * Jos A Bank Clothiers (JOSB): 2Q prelim. EPS trails est.
    * Mandalay Digital (MNDL): Secondary via Ladenburg Thalmann
    * Nordstrom (JWN): Cuts yr EPS, comp. sales forecasts
    * Pixelworks (PXLW): Secondary via Roth Capital
    * PowerSecure International (POWR): $44m secondary
    * Universal Truckload Services (UACL): 1m-shr secondary
• UPGRADES:
•   * Anadarko Petroleum (APC) to strong buy: ISI Group
    * Linear Technology (LLTC) to overweight: Morgan Stanley
    * JetBlue (JBLU) to market perform: Raymond James
    * Pandora Media (P) to buy: Goldman Sachs
    * Xilinx (XLNX) to overweight: Morgan Stanley
  
  DOWNGRADES:
    * Alcoa (AA) to underperform: BofA Merrill
    * Aviva (AV) to neutral: BNP Paribas
    * General Mills (GIS) to underperform: Jefferies
    * Maxim Integrated Products (MXIM) to equalweight: Morgan Stanely
    * Noble Energy (NBL) to buy: ISI Group
    * Nordstrom (JWN) to neutral: Sterne Agee
    * Portugal Telecom (PT) to neutral: Goldman Sachs
    * Portugal Telecom (PT) to neutral: Natixis
    * Red Robin Gourmet (RRGB) to neutral: B. Riley
    * STMicroelectronics (STM) to underweight: HSBC
    * Volterra Semiconductor (VLTR) to sell: B. Riley
    * Volterra Semiconductor (VLTR) to hold: Deutsche Bank
    * Volterra Semiconductor (VLTR) to hold: Needham
  
  INITIATIONS:
    * Aercap (AER) outperform: RBC Capital, PT $28
    * Aircastle (AYR) sector perform: RBC Capital, PT $20
    * Atmel (ATML) overweight: Morgan Stanley, PT $10
    * Fairchild Semiconductor (FCS) overweight: Morgan Stanley, PT $16
    * Freescale Semiconductor (FSL) underweight: Morgan Stanley, PT $14
    * Fly Leasing (FLY) outperform: RBC Capital, PT $18
    * Glu Mobile (GLUU) hold: Benchmark Co., PT $2.42
    * Movado Group (MOV) buy: Brean Capital, PT $44
    * Microchip Technology (MCHP) equalweight: Morgan Stanley, PT $43
    * ON Semiconductor (ONNN) underweight: Morgan Stanley, PT $7
    * Semtech (SMTC) outperform: RBC Capital, PT $40
    * Tronox (TROX) outperform: RBC Capital, PT $28