2013-08-22 Events

2013-08-22 Events

• MAJOR STORY:
    * Nasdaq Reopens After Three Hour Halt From Computer Error
      * Nasdaq to Let Trades Executed 12:14:03pm-12:23:31pm Stand
      * Exchanges to Bust Trades in Nasdaq-Listed Stocks in 3-Hr  Window
• TOP NEWS:
    * Initial jobless claims 336k vs est. 330k; prior week revised to 323k from 320k; 4-wk moving avg. 330.5k
      * 4-wk avg. at lowest since Nov. 2007
    * J.C. Penney adopts 1-yr shareholder rights plan
    * June FHFA House Price Index up 0.7% M/m vs est. up 0.6%; May revised to up 0.8% from up 0.7%
    * U.S. Leading Indicators rose 0.6% in July, est. 0.5%
    * Bloomberg Weekly Consumer Comfort index fell to -28.8 vs -26.6 W/w
    * 30-yr fixed mortgage rate 4.58% vs 4.40% W/w: Freddie Mac
      * 15-yr fixed mortgage rate averaged 3.60% for week
• AM EARNS:
    * Hormel Foods (HRL) 6am, $0.45
    * Sears Holdings (SHLD) 6am, $(1.07)
    * Abercrombie & Fitch (ANF) 6:30am, $0.29 - Preview
    * Children’s Place (PLCE) 6:30am, $(0.53)
    * Patterson (PDCO) 7am, $0.48
    * Buckle (BKE) 7am, $0.52
    * Dollar Tree (DLTR) 7:29am, $0.57
    * Ross Stores (ROST) 8:25am, $0.93
    * GameStop (GME) 8:30am, $0.04
    * Toro (TTC) 8:30am, $0.59
• PM EARNS:
    * Gap (GPS) 4pm, $0.64
    * Autodesk (ADSK) 4:01pm, $0.42
    * Aeropostale (ARO) 4:01pm, $(0.28)
    * Micros Systems (MCRS) 4:02pm, $0.62
    * Pandora Media (P) 4:02pm, $0.02 - Preview
    * Marvell Technology (MRVL) 4:03pm, $0.19
    * Aruba Networks (ARUN) 4:03pm, $0.11
    * Mentor Graphics (MENT) 4:05pm, $0.17
    * Solera Holdings (SLH) 4:07pm, $0.66
    * Nordson (NDSN) 4:30pm, $1.05
• CONFERENCES/CORPORATE EVENTS:
    * Citi One-on-One Midstream/Infrastructure Conf.: EROC, GEL, LGCY, NS, NSH, OILT
    * Raymond James Bank Conf.: BBCN, BXS, FFIN, FMBI, HOMB, NPBC, NYCB, OZRK, PVTB, SCBT, TRMK, WTFC, ZION
    * Annual meeting: MDT, IPL-U CN
• UPGRADES:
    * Brown Shoe (BWS) to positive: Susquehanna
    * Canadian Pacific (CP) to outperform: Credit Suisse
    * Home Depot (HD) to hold: Landesbank
    * Exelis (XLS) to outperform: RBC
    * Marathon Oil (MRO) to outperform: Raymond James
    * Microsoft (MSFT) to buy: Nomura
    * Precision Castparts (PCP) to outperform: Wells Fargo
  
  
  DOWNGRADES:
    * Emerge Energy (EMES) to neutral: Baird
    * H.B. Fuller (FUL) to underperform: Longbow
    * NII Holdings (NIHD) to underweight: Morgan Stanley
    * Target (TGT) to neutral: Baird
    * Target (TGT) to underperform: William Blair
    * Target (TGT) to buy: ISI
    * Target (TGT) to neutral: Janney
    * Vanguard Health (VHS) to sector perform: RBC
  
  
  INITIATIONS:
    * Biocryst Pharma (BCRX) outperform: Wells Fargo
    * Cimarex (XEC) neutral: Citi, PT $81
    * Gran Tierra Energy (GTE) outperform: Stonecap
    * Invensense (INVN) buy: Needham, PT $20
    * Regeneron (REGN) outperform: Oppenheimer, PT $300
    * SM Energy (SM) neutral: Citi, PT $76
    * Tesla (TSLA) hold: Stifel
    * Vertex Pharma (VRTX) outperform: Oppenheimer, PT $105
    * Zynga (ZNGA) hold: Benchmark, PT $2.98