2013-08-15 Events

• EARNINGS (all times ET, times are approximate):
    * Wal-Mart Stores (WMT) 7am, $1.25 - Preview
    * Kohl’s (KSS) 7am, $1.04
    * Estee Lauder (EL) 7:30am, $0.21
    * Perrigo (PRGO) 7:44am, $1.56
    * Pan American Silver (PAA CN) Bef-mkt, $0.05
    * E-Commerce China Dangdang (DANG) Bef-mkt, $(0.15)
    * Applied Materials (AMAT) 4pm, $0.19
    * Dell (DELL) 4:01pm, $0.24
    * Bally Technologies (BYI) 4:01pm, $0.94
    * Aspen Technology (AZPN) 4:02pm, $0.08
    * Nordstrom (JWN) 4:05pm, $0.88 - Preview
• EARNINGS All times CET, estimates where available:
    * Zurich Insurance (ZURN VX) 6:45am, 2Q adj. EPS est. $5.68
    * Holcim (HOLN VX) 7am, 2Q adj. EPS est. CHF1.24
    * Boskalis (BOKA NA) 7am, 1H adj. EPS est. EU1.04
    * Oriflame Cosmetics (ORI SS) 7:15am, 2Q adj. EPS est. EU0.44
    * GSW Immobilien (GIB GY) 7am, 2Q adj. EPS est. EU0.38 (2 ests)
    * Ratos (RATOB SS) 8am, 2Q adj. EPS est. SK0.50 (1 est.)
    * Aalberts (AALB NA) 7:30am, 1H adj. EPS est. EU0.71
    * Mobimo Holding (MOBN SW) TBD, 1H
    * Nordex (NDX1 GY) 8am, no ests.
    * Talvivaara Mining (TALV LN) 8am, 2Q adj. loss/shr est. EU0.015
    * Derwent London (DLN LN) 8am, 1H adj. EPS est. GBP0.27
    * AZ Electronic Materials (AZEM LN) 8am, 1H adj. EPS est. GBP0.13
    * Ophir Energy (OPHR LN) 8am, 1H adj. loss-shr est. $0.14 (1 est.)
    * Meyer Burger Tech (MBTN SW) 1H adj. loss-shr est. CHF1.66 (1 est.)
    * Imperial Tobacco (IMT LN) 8am, 3Q sales, IMS
    * Hennes & Mauritz (HMB SS) 8am, July sales
• IPO WATCH:
    * Priced yday:
      * Third Point Reinsurance (TPRE) priced 22.05m shrs at  $12.50
    * No IPOs expected to price today: Bloomberg data
• CONFERENCES:
    * Canaccord Genuity Growth Conf.: AEGR, ANGI, ATML, CREE, DWRE, ELGX, IPXL, ISIS, ISRG, ITRI, MKSI, MKTO, NVDA, OLED,
      PLB CN, PODD, QCOM, SRPT, TQNT, TUMI, ULTI, UNFI, VOLC
    * EnerCom Oil & Gas Conf.: PDCE
    * Jefferies Global Industrials Conf.: AGCO, AVY, CDE, CIR, CVA, HL, IPHS, KALU, MTZ, RKT, SEE, SEE, SON, TRS
• CORPORATE EVENTS:
    * Annual meeting: ATA CN, FRX, QSII
    * Analyst meeting: F
• EQUITY PREVIEW:
    * Agilent (A): Raises low end of yr adj. EPS view
    * AMR (AAMRQ): Hearing on reorganization plan
    * Biolase (BIOL): Cuts registration statement to $5m vs $30m
    * Buckeye (BKI): Vote on Georgia-Pacific (GP) takeover offer
    * Cisco (CSCO): Cutting 5% of staff, 4Q adj. EPS beat by 1c
    * Dillards (DDS): 2Q EPS tops est. on gross margin improvement
    * Hollysys (HOLI): 4Q rev. $113.4m, up 29% Y/y
    * J.C. Penney (JCP): Aug. comp. sales turn positive: N.Y. Post
    * Mannkind (MNKD): Working with Greenhill & Co. on partnering talks
    * Netapp (NTAP): 2Q EPS view midpoint in line
    * Netease (NTES): 2Q profit/ADS, rev. beat ests.
    * Tesla (TSLA): Secondary offer lock-up expires
    * Vipshop (VIPS): 2Q rev. beats; 3Q rev. est. within forecast
• 
  WHAT HAPPENED:
    * Initial jobless claims 320k vs est. 335k; 4-wk moving avg 332k
      * Lowest level since Oct. 2007
      * Continuing claims fell 54k to 2.969m
    * U.S. July CPI Up 0.2%, Matches Est.; Ex. Food, Energy Matches
    * July industrial production unchanged vs est. up 0.3%; capacity utilization 77.6% vs est. 77.9%
    * Bloomberg Weekly Consumer Comfort index fell to -26.6 vs -23.5 W/w
    * U.S. August Home Builders’ Confidence Rises to 59 vs Est. 57
    * U.S. Aug. Philadelphia Fed Index Falls to 9.3, Est. 15.0
    * U.S. Aug. New York Fed Empire Report Falls to 8.2, Est. 10
    * Treasury 30-year bond yield, 10-year bond yield rise to highest since August 2011
      * U.K. 10-Year Gilt Yield Rises to 2.71%, Highest Since Aug. 2011
    * U.S. Net Long-Term Portfolio Securities Outflow $66.9b in June
• 
  
• UPGRADES:
    * Akorn (AKRX) to buy: Gabelli & Co.
    * Baker Hughes (BHI) to outperform: RBC Capital
    * Carnival Corp. (CCL) to buy: Goldman Sachs
    * Cisco (CSCO) raised to neutral at ISI Group
    * Infosys (INFY) to buy: Nomura
    * Integra Lifesciences (IART) to overweight: Piper Jaffray
    * JinkoSolar (JKS) to buy: Roth Capital
    * Martin Midstream (MMLP) to outperform: Raymond James
    * MDC Holdings (MDC) to buy: Sterne Agee
    * Medicines Co. (MDCO) to buy: BofA Merrill
    * National Oilwell (NOV) to outperform: RBC Capital
    * Nexstar Broadcasting (NXST) to overweight: Evercore
    * SunTrust Banks (STI) to buy: Drexel Hamilton
  
  DOWNGRADES:
    * AstraZeneca (AZN) to underweight: Morgan Stanley
    * Anixter (AXE) to market perform: William Blair
    * Avago Technologies (AVGO) to hold: Brean Capital
    * GlaxoSmithKline (GSK) to underweight: Morgan Stanley
    * Green Dot (GDOT) to neutral: Compass Point
    * Helmerich & Payne (HP) to sector perform: RBC Capital
    * Houston Wire & Cable (HWCC) to market perform: William Blair
    * Oceaneering (OII) to sector perform: RBC Capital
    * PulteGroup (PHM) to outperform: RBC Capital
    * Renren (RENN) to underperform: Jefferies
    * United Microelectronics (UMC) to sell: Goldman Sachs
  
  INITIATIONS:
    * ArcelorMittal (MT) underweight: Barclays
    * Agnico Eagle (AEM) hold: Desjardins Capital
    * Agilent Technologies (A) neutral: Janney Capital, PT $50
    * Bruker Corp. (BRKR) neutral: Janney Capital, PT $22
    * BazaarVoice (BV) buy: B. Riley, PT $15.25
    * First Majestic Silver (AG) buy: Desjardins Capital
    * Idex Corp. (IEX) buy: Janney Capital, PT $75
    * Illumina (ILMN) neutral: Janney Capital, PT $86
    * Mettler-Toledo (MTD) neutral: Janney Capital, PT $255
    * New Gold (NGD) top pick: Desjardins Capital
    * National Instruments (NATI) neutral: Janney Capital, PT $33
    * Neogen (NEOG) neutral: Janney Capital, PT $61
    * PerkinElmer (PKI) neutral: Janney Capital, PT $40
    * Pall Corp. (PLL) neutral: Janney Capital, PT $79
    * Qiagen (QGEN) neutral: Janney Capital, PT $24
    * Quantum Fuel (QTWW) buy: Ascendiant Capital, PT $3.50
    * Safeguard Scientifics (SFE) neutral: Janney Capital, PT $18
    * Sigma-Aldrich (SIAL) buy: Janney Capital, PT $103
    * Thermo Fisher (TMO) buy: Janney Capital, PT $113
    * Techne (TECH) neutral: Janney Capital, PT $85
    * Waters Corp. (WAT) neutral: Janney Capital, PT $118
    * Westport Innovations (WPRT) sector perform: RBC Capital, PT $28