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Home / Blogs / THE U.S. DAYBOOK: U.S. DAYBOOK & OVERNIGHT: Yellen, Alvogen, IQiyi, Jaguar, Nike

THE U.S. DAYBOOK: U.S. DAYBOOK & OVERNIGHT: Yellen, Alvogen, IQiyi, Jaguar, Nike

(Bloomberg) — U.S. equity-index futures slide with Asian stocks, European shares edge higher. Fed’s Yellen is set to speak. Economic data include new home sales, consumer confidence. Scheduled earnings include Nike, Carnival, Micron. U.S. MARKETS:

  • S&P 500 futures down 0.1% to 2,494.75
  • Brent Futures down 0.6% to $58.65/bbl
  • Gold spot down 0.3% to $1,306.87
  • U.S. Dollar Index up 0.2% to 92.85

WHAT TO WATCH:

  • TOP OVERNIGHT NEWS:
    • CVC Is Said to Mull Options for $4 Billion Drugmaker Alvogen
    • Baidu’s iQiyi Is Said to Seek a U.S. IPO at Over $8b Valuation
    • Jaguar Land Rover Is Said to Hunt for Luxury Brand Purchases
    • U.S. Sees ‘Four or Five’ Ways to Resolve North Korean Crisis
    • Demise of Obamacare Repeal Shows How Far GOP Remains From Goal
    • Turkey Warns Iraq Kurds It Can ‘Close Valves’ on Oil Exports
    • Nestle Aims to Boost Profitability Amid Pressure From Loeb
    • ABB CEO Says Share Buybacks Can Wait After Agreeing to GE Deal
    • Amazon Adds Voice Assistant Alexa to iOS, Android Music Apps
    • Credit Suisse, RBS, UBS Win Dismissal of Swiss Franc Libor Case
    • Trump’s State-Tax Plan Could Cause Headaches for 52 Republicans
    • Banks Lobbying to Stem MiFID’s Spread Spark a U.S. Client Revolt
    • Uber’s New ‘Good Cop’ Tack Will Face Test in U.S. City Tussles
    • China Electronics, IBM Form JV on Healthcare Solution for China
    • Four Bid Groups, Six Individual Cos Qualify to Bid for Pemex JVs
    • Amphastar Says FDA Approves Neostigmine Methylsulfate Injection
    • RHT Boosts FY Rev. View, Beats Highest Est.; Shares Rise 4%
    • Synnex 4Q Adjusted EPS View Beats Highest Est.
    • India Railways Minister Is Said to Have Met With GE Execs: WSJ
    • U.S. Is Said to Curb Russian Military Flights Over U.S.: WSJ
  • M&A, ECM SCHEDULED EVENTS:
    • U.S. ECM AGENDA: Roku, PQ Group, Deciphera IPOs
  • ANALYST ACTIONS
    • (AAL): American Air New Neutral at Macquarie, PT $47
    • (ADES): Advanced Emissions Solutions New Buy at Canaccord, PT $20
    • (ALGT): Allegiant Travel New Neutral at Macquarie, PT $119
    • (ALK): Alaska Air New Outperform at Macquarie, PT $94
    • (ANET): Arista Networks New Buy at Berenberg, PT $225
    • (BNE CN): Bonterra Energy Cut to Sector Underperform at Peters & Co
    • (CATM): Cardtronics Cut to Market Perform at William Blair
    • (CCC): Calgon Carbon Cut to Neutral at Baird
    • (CPG CN): Crescent Point Energy Cut to Sector Perform at Peters & Co
    • (CQH): CQH New Market Perform at BMO, PT $27
    • (CQP): CQP New Outperform at BMO, PT $32
    • (CRZ CN): CannaRoyalty New Speculative Buy at Canaccord, PT C$3.75
    • (DAL): Delta New Outperform at Macquarie, PT $61
    • (DRE): Duke Realty Cut to Neutral at JPMorgan, PT $30
    • (DWDP): DowDuPont New Hold at HSBC, PT $66
    • (ECA CN): Encana Raised to Sector Perform at Peters & Co, PT $12.50
    • (ED): Con Edison Cut to Underperform at Evercore ISI, PT $74
    • (EQIX): Equinix New Buy at Berenberg, PT $550
    • (GGP): GGP Raised to Overweight at JPMorgan, PT $25
    • (GNCA): Genocea Biosciences Cut to Hold at Stifel, PT $2.50
    • (HA): Hawaiian Holdings New Outperform at Macquarie, PT $49
    • (IMO CN): Imperial Oil Cut to Sector Underperform at Peters & Co, PT C$38
    • (INN): Summit Hotel Raised to Overweight at Keybanc, PT $17
    • (JBLU): JetBlue New Neutral at Macquarie, PT $21
    • (JPM): JPMorgan Cut to Hold at Deutsche Bank
    • (KIM): Kimco Raised to Overweight at JPMorgan, PT $24
    • (LB): L Brands Raised to Overweight at Atlantic, PT $56
    • (LLEX): Lilis Energy New Buy at Williams Capital, PT $7
    • (LNG): Cheniere Energy New Outperform at BMO, PT $60
    • (LUV): Southwest Air New Outperform at Macquarie, PT $62
    • (MAC): Macerich Raised to Overweight at JPMorgan, PT $68
    • (NTAP): NetApp New Buy at Value Investment Principals, PT $55
    • (PCG): PG&E Cut to Inline at Evercore ISI, PT $69.25
    • (PNM): PNM Resources Cut to Underperform at Evercore ISI, PT $37.50
    • (REXR): Rexford Industrial Cut to Neutral at JPMorgan, PT $29
    • (SAVE): Spirit Air New Neutral at Macquarie, PT $33
    • (SWM): Schweitzer-Mauduit New Buy at DA Davidson, PT $47
    • (TAST): Carrols Restaurant Cut to Outperform at Raymond James, PT $15.50
    • (TCO): Taubman Centers Cut to Neutral at JPMorgan, PT $57
    • (TGNA): Tegna New Sector Perform at RBC, PT $14
    • (UAL): United Continental New Neutral at Macquarie, PT $64

EARNINGS: (All ests. EPS. All times ET) Previews here

  • PRE-MKT
    • Carnival (CCL US) 8:51am $2.20
    • Darden (DRI US) 7am 99c
    • FactSet (FDS US) 7am $1.91
  • POST-MKT
    • Cintas (CTAS US) 4:13pm $1.31
    • Micron (MU US) 4pm $1.84
    • Nike (NKE US) 4:15pm 48c

GOVERNMENT:

  • Government Agenda

ECONOMIC DATA (All times ET):

  • 9am: S&P CoreLogic CS 20-City MoM SA, est. 0.2%, prior 0.11%
  • 9am: S&P CoreLogic CS 20-City YoY NSA, est. 5.7%, prior 5.65%
  • 9am: S&P CoreLogic CS 20-City NSA Index, prior 200.5
  • 9am: S&P CoreLogic CS US HPI YoY NSA, prior 5.77%
  • 9am: S&P CoreLogic CS US HPI NSA Index, prior 192.6
  • 10am: New Home Sales, est. 585,000, prior 571,000
  • 10am: New Home Sales MoM, est. 2.45%, prior -9.4%
  • 10am: Conf. Board Consumer Confidence, est. 120, prior 122.9
  • 10am: Conf. Board Present Situation, prior 151.2
  • 10am: Conf. Board Expectations, prior 104
  • 10am: Richmond Fed Manufact. Index, est. 13, prior 14

CENTRAL BANKS (All times ET):

  • 9:30am: Fed’s Mester Moderates Session NABE
  • 10:30am: Fed’s Brainard Speaks on Labor Market Disparities
  • 11:30am: Fed’s Bostic Speaks to the Atlanta Press Club
  • 12:45pm: Yellen Speaks on Inflation, Uncertainty, and Monetary Policy

CORPORATE EVENTS:

  • Annual general meetings: GIS US
  • Other Events: FPO US, HUBS US, ORA US, PNW US, UBNT US
  • Earnings Calls: CCL LN, CCL US, CTAS US, DRI US, FDS US, MU US, NKE US
  • Other/M&A: VAR US

CONFERENCES:

  • American Society for Radiation Oncology Meeting: VAR US
  • Bank of America Merrill Lynch Healthcare Supply Channel and HCIT Conference: HQY US, INOV US
  • Bank of America Merrill Lynch Healthcare Supply Channel Conference: MDRX US
  • Bloomberg Canadian Fixed Income Conference: RCI/B CN
  • Cantor Fitzgerald Global Healthcare Conference: ABAX US, ACRS US, AIMT US, AKAO US, AKBA US, ARRY US, AUP CN, CELG US, CHRS US, CYTK US, DERM US, EPZM US, GBT US, HALO US, INO US, INVA US, LMAT US, LMNX US, LNTH US, MDXG US, MGLN US, NTLA US, ONCE US, OSUR US, PBYI US, PCRX US, PDLI US, RGNX US, RVNC US, SCMP US, TXMD US, USPH US, VCRA US, ZTS US
  • Denver Gold Forum: AEM CN, ASR CN, G CN, GUY CN, K CN, NDM CN, NEM US, NG CN, NSU CN, OSK CN, PVG CN, SEA CN, SSRM CN, TMR CN, TXG CN, YRI CN
  • Electromagnetic Maneuver Warfare Systems Engineering & Acquisition Conference: ANSS US
  • European Society of Intensive Care Medicine LIVES Congress: LJPC US
  • GovTech Massachusetts Digital Government Summit: EGOV US
  • Ground Handling International Africa Conference: COL US
  • Health Industry Distributors Association Streamlining Healthcare Conference: PRO US
  • Johnson Rice & Co. Energy Conference: CHK US, CHPE US, CPE US, ECR US, ESTE US, HLX US, MDR US, NBR US, NFX US, OII US, PDCE US, PUMP US, PXD US, REN US, RES US
  • Johnson Rice Energy Conference: FET US, PVAC US
  • Ladenburg Thalmann Health Care Conference: ACAD US, ADRO US, ARNA US, ATNX US, BCRX US, CLXT US, CORT US, CRY US, ITCI US, KERX US, LTS US, OFIX US, OPK US, PRTK US, RETA US, RXDX US, SGYP US, TGTX US
  • Montney/Duvernay Conference: CR CN, KEL CN, KEY CN, NVA CN, POU CN, PPL US, STEP CN
  • National Waterways Conference: TTEK US
  • Software Defined Enterprise Conference: ATHN US
  • Wolfe Research Conference: XEL US
  • Wolfe Research Power & Gas Leaders Conference: NEE US, NEP US
  • Wolfe Research Utilities & Power Leaders Conference: LNT US
  • Wolfe Research Utilities and Power Leaders Conference: ETR US

BLOOMBERG TV SCHEDULE:

  • 06:00 Alberto Nagel (CEO) Mediobanca
  • 06:40 Lorenzo Bini Smaghi (Chairman) Societe Generale
  • 07:00 Edmund Shing (Global Head:Equity Derivative Strategy) BNP Paribas
  • 07:10 Robert Edward Diamond “Bob” (CEO/Founding Partner) Atlas Merchant Capital LLC
  • 08:00 Jim Bianco (President/Founder) Bianco Research
  • 08:00 David A Rosenberg (Chief Economist & Strategist) Gluskin Sheff + Associates Inc
  • 08:50 Max Baucus (Former Ambassador:China) United States of America
  • 09:00 Mark Lehmann (President) Jmp Securities LLC
  • 09:00 Tony Dwyer (Equity Strategist/Mng Dir:US Portfolio Strategy) Canaccord Genuity Inc
  • 09:15 Marc Leishman (Professional Golfer) PGA Tour Inc
  • 09:15 Brooks Koepka (Professional Golfer) PGA Tour Inc
  • 09:30 John Stoltzfus (Chief Market Strategist/Mng Dir) Oppenheimer & Co Inc
  • 09:35 Randal Konik (Equity Analyst) Jefferies
  • 09:45 Kathleen Sebelius (Former Secretary:HHS) United States of America
  • 10:00 Martin S Feldstein (President Emeritus) National Bureau Of Economic Research
  • 10:15 Ira Epstein (President) Ira Epstein
  • 10:30 Oliver Marti (Senior Managing Director/Portfolio Manager) Columbus Circle Investors
  • 10:40 Carlos Capistran (Chief Mexico Economist) Merrill Lynch/Mexico Canada
  • 10:50 Richard Craig Shelby (Alabama Senator (R)) (US)Senate
  • 11:00 Sidney Toledano (Chairman/CEO) Christian Dior Couture
  • 12:00 Rishi shah (CEO) Outcome Health
  • 12:00 Rahm Emanuel (Mayor) City of Chicago IL
  • 12:30 Alan Blinder (Professor of Economics & Public Affairs) Princeton University
  • 14:30 David Harquail (President/CEO) Franco-Nevada Corp
  • 15:00 Edward Devlin “Ed” (Mng Dir/Generalist Portfolio Mgr) PIMCO NY
  • 15:30 Mark A Weinberger (Chairman/CEO) Ernst & Young LLP
  • 16:00 Kit Juckes (Global Fixed Income Strategist) Societe Generale
  • 16:30 Katherine Baicker (Dean: Harris School of Public Policy) University of Chicago/The (PE Limited Partner)
  • 17:00 David Kirkpatrick (CEO/Founder) Techonomy Media
  • 17:30 Anjali Sud (Chief Executive Officer) Vimeo LLC
  • 23:00 David Kirkpatrick (CEO/Founder) Techonomy Media
  • 23:30 Anjali Sud (Chief Executive Officer) Vimeo LLC

OTHER EUROPEAN NEWS SINCE THE U.S. CLOSE:

  • ECB Is Said to Start Stress Tests at Greek Banks in February
  • EU Dangles Praise for U.K. But Asks More for Brexit Trade
  • London Luxury Home Values Set for 20% Rebound Over Five Years
  • BNP Paribas Aims to Grow German Revenue 8% Per Year Through 2020
  • Monte Paschi Restructuring Will Cut Bank in Half: EU Official
  • Pandora’s U.S. September Campaign Failed, Carnegie Says: Ritzau
  • Deutsche Wohnen, Vonovia Lead Europe Real Estate Stocks Higher

EUROPEAN ECO DATA (All times ET):

  • 2:45am: (FR) Sept. Manufacturing Confidence, actual 110, est. 110.4, prior 111

WHAT HAPPENED IN EUROPEAN MARKETS:

  • STOXX Europe 600 down 0.03% to 383.80
  • German 10Y yield rose 0.2 bps to 0.402%
  • Euro down 0.3% to $1.1811
  • Brent Futures down 0.6% to $58.65/bbl
  • Italian 10Y yield unchanged at 1.814%
  • Spanish 10Y yield fell 0.2 bps to 1.622%

OTHER ASIA NEWS SINCE THE U.S. CLOSE:

  • Cindat Capital Says Estimates Put China NPLs Up to $1 Trillion
  • Euro Hits One-Month Low as Stops Triggered Across the Board
  • Iron Ore Faces ‘New Reality’ on Flight to Quality, BHP Says
  • Modi Starts $2.5 Billion Plan to Electrify Every India Home
  • Singapore Cryptocurrency Firms Facing Bank Account Closures

ASIAN ECO DATA (All times ET):

  • 1am: (SI) Aug. Industrial Production YoY, actual 19.1%, est. 16.0%, prior 21.0%, revised 21.2%
  • 1am: (SI) Aug. Industrial Production SA MoM, actual 0.6%, est. -0.4%, prior 1.0%, revised 0.9%
  • 4:30am: (HK) Aug. Exports YoY, actual 7.4%, est. 7.05%, prior 7.3%
  • 4:30am: (HK) Aug. Imports YoY, actual 7.7%, est. 5.9%, prior 5.5%

WHAT HAPPENED IN ASIAN MARKETS:

  • MXAP down 0.3% to 161.66
  • MXAPJ down 0.5% to 529.61
  • Nikkei down 0.3% to 20,330.19
  • Topix unchanged at 1,672.74
  • Hang Seng Index up 0.05% to 27,513.01
  • Shanghai Composite up 0.06% to 3,343.58
  • Sensex down 0.05% to 31,610.25
  • Australia S&P/ASX 200 down 0.2% to 5,670.98
  • Kospi down 0.3% to 2,374.32

To contact the reporter on this story: Kasper Viita in London at kviita1@bloomberg.net To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net James Cone

About Makkaba Co., Ltd.

Makkaba Co., Ltd.

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