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Re: ReturntoSender post# 6854

Thursday, 10/29/2015 5:58:34 PM

Thursday, October 29, 2015 5:58:34 PM

Post# of 12809
From Briefing.com: The major indices registered modest losses on Thursday inwhat could best be described as a day of profit taking. The S&P 500 information technology sector(-0.3%), which has been the hottest area going for the broader market over thelast month, underperformed on Thursday.

The weakness in the sector was paced by losses in themajority of sector components, although Apple (AAPL 120.53, +1.26, +1.1%) was anotable and influential exception there, which helped to contain the overallfallout.

The weakest area was the semiconductor space, evidenced bythe 3.0% decline in the Philadelphia Semiconductor Index.

It would be remiss not to add that the SOX Index was up 16%over the last month prior to Thursday's trading. Profit taking from a short-term overboughtcondition hit home, then, with 26 of the 30 index components losing ground andmany of those decliners shedding at least 2.0% for the day.

Notable news items from sector components included thefollowing:

Cisco Systems (CSCO29.14, -0.23, -0.8%): Announced its intent Wednesday to acquire 1 Mainstream;terms not disclosed. 1 Mainstream Inc is aprivately held company that offers a cloud-based video platform designed toquickly launch live and on-demand OTT video services to a variety of connecteddevices. The acquisition is expected to be complete in the second quarter ofCisco's current fiscal year.

Corning (GLW 18.85,+0.03, +0.2%) announces $1.25 bln accelerated share repurchase. The ASR is executed pursuant to the $2 bln sharerepurchase program authorized by company's board of directors on July 15, 2015, which wassupplemented by an additional $4 bln share repurchase program authorized onOctober 26, 2015. Under the termsof the ASR, Corning has agreed to repurchase in total $1.25 bln of its commonstock from Morgan Stanley & Co. LLC, with an initial delivery of ~53.1Mshares based on current market prices. The program is expected to becompleted in 1Q16. Co expects to finance the ASR with cash on hand.

F5 Networks (FFIV110.08, -11.26, -9.3%): After Wednesday's close, reported Q4 (Sep) earnings of $1.84 per share,excluding non-recurring items, which was well above analysts' averageexpectation; revenues rose 7.7% year/year to $501.3 mln, which was belowestimates. For Q1, sees EPS of$1.58-1.61 and revenues of $480-490 mln. The high end of both guidance rangesis below analysts' average expectations. Separately, named Edward J. Eames as Chief Operations Officer. Prior to becoming the Company's COO, Eames served as theCompany's Executive Vice President of Business Operations from January 2001.

First Solar (FSLR 50.99, +0.14, +0.3%): Companyand the Sacramento Municipal Utility District have announced the formalexecution of a power purchase agreement for offtake of a 10.8 megawattsolar project to be built on the site of the decommissioned Rancho Seco NuclearGeneration Station. The co also announced that they have signed a powerpurchase agreement with Austin Energy allowing the municipally ownedelectricity provider to obtain low-cost solar power generated by First Solar's119 megawatt AC East Pecos Solar Project.

Intel (INTC 34.03, -0.68, -2.0%): CFO sold 220,620 shares at$34.37-34.43 worth ~$7.7 mln

MasterCard (MA 100.59,+0.50, +0.5%): Before Thursday's open, reported Q3 (Sep) earnings of $0.91 per share, excludingnon-recurring items, which was $0.04 better than expectations; revenues rose 1.6% year/year to $2.53 bln andwere slightly below estimates. Adjusted for currency, net revenueincreased 8%. On call, said it sees 8-10% FX headwind for FY15income and revenue; reaffirms FY16-18 outlook given at last month's InvestorDay: low double digit net revenue CAGR, mid-teens EPS CAGR

Visa (V 78.51, -0.36, -0.5%): According tosources who spoke to The Wall Street Journal, the company is in advancednegotiations to buy Visa Europe for ~$22 bln

Western Digital (WDC67.82, +0.30, +0.4%): After Wednesday'sclose, reported Q1 (Sep)earnings of $1.56 per share, in-line with estimates; revenuesfell 14.8% year/year to $3.36 bln, which was slightly above expectations. Companysaid, "We continue to benefit from our strong product and technologypositioning in today's storage market. I am very excited about our future andability to create long term value in the evolving storage ecosystem, especiallyin light of our three recent announcements regarding the planned investment inour company by Unisplendour, the MOFCOM decision and our planned acquisition ofSanDisk."

Elsewhere in the technology space:

Cirrus Logic (CRUS30.33, -1.29, -4.1%): After Wednesday's close, reported Q2 (Sep) earnings of $0.65 per share,excluding non-recurring items, topping analysts' average expectation;revenues rose 46% year/year to $306.8 mln, also beating estimates. For Q3,sees Q3 revs of $370-400 mln, which is comfortably above analysts' averageexpectation at the low end of the guidance range. Adds $200 mln to buyback.

Electro Scientific (ESIO4.95, +0.06, +1.2%): After Wednesday's close, reported Q2 (Sep) loss of $0.03 per share, excludingnon-recurring items, which was better than expected; revenues rose8.5% year/year to $46.5 mln, also topping estimates. For Q3, sees EPS of ($0.10)-($0.05) andrevenue of ~$45 mln. The guidance forboth EPS and revenue was shy of analysts' average expectation.

Fairchild Semi (FCS 16.56, -0.99, -5.6%):STMicroelectronics (STM 6.79, -0.42, -5.8%) says on conference call thatcontrary to rumors, it does not have any current plans to make any offer forFairchild

LinkedIn (LNKD 217.00,+3.7, +1.8%): After Thursday's close, reported Q3 (Sep) earnings of $0.78 per share, well aheadof analysts' average estimate; revenues rose 37.2% year/year to $779.6 mln,also topping estimates. For Q4, sees EPS of ~$0.74, which is ahead of currentexpectations, and revenues of $845-850 mln, which is in-line with estimates.

Nokia (NOK 7.32, +0.68,+10.2%): Before Thursday's open, reported Q3 (Sep) earnings of 0.08 per share, toppingexpectations; revenues fell 1.7% year/year to 3.04 bln and were belowestimates. Reaffirms its FY15 outlook of increased revenues year-over-year incontinued operating segments and Nokia Networks operating margin. Additionally, co announced a plannedEUR 7 billion program to optimize Nokia's capital structure and return excesscapital to shareholders, ahead of planned public exchange offer forAlcatel-Lucent securities.

Twitter (TWTR 29.06, -1.81, -5.9%): JessicaVerrilli to return to Twitter as Sr Director of Corporate Development &Strategy; Had recently left company for Google Ventures

Yelp (YELP 22.95, +0.88, +4.0%): After Wednesday's close, reported Q3(Sep) earnings of $0.03 per share, coming up shy of expectations;revenues rose 40.1% year/year to $143.6 mln, which was ahead of estimates. ForQ4, sees revenues of $149.5-154.5 mln vs. $152.03 mln, in-line with estimates. AdjustedEBITDA is expected to be in the range of $20 million to $24 million. For FY15, sees revenues of $545.5-551.5mln vs. $545.75 mln. Adjusted EBITDA is expected to be in the range of $72million to $76 million.

Analyst Action:

Akamai Tech (AKAM61.11, -1.80, -2.9%): FBR Capital downgrades AKAM to Underperform from Mkt Performand lowers their tgt to $49 from $59 Alibaba(BABA 82.22, -0.13, -0.2%): downgraded to Hold from Buy at Standpoint Research

ArrowElectronics (ARW 54.94, -1.08, -1.9%): downgraded to Outperform from Buy atCredit Agricole

F5Networks (FFIV 110.08, -11.26, -9.3%): downgraded to Market Perform at BMOCapital Markets... RBCCapital Markets downgrades FFIV to Sector Perform from Outperform and lowers itstarget to $125 from $130... downgraded to Hold from Buy at Needham...target lowered to $115 from $135 at Wunderlich... Oppenheimer lowers itstarget to $120 from $133

Teradyne(TER 19.38, -0.96, -4.7%): downgraded to Sector Weight at Pacific Crest

4:45 pm Cray beats by $0.42, beats on revs; guides FY15 revs in-line; guides FY16 revs above consensus (CRAY) :

Reports Q3 (Sep) earnings of $0.48 per share, $0.42 better than the Capital IQ Consensus of $0.06; revenues rose 20.1% year/year to $191.4 mln vs the $140.95 mln Capital IQ Consensus.Total non-GAAP gross profit margin for the third quarter of 2015 was 35%, compared to 31% for the third quarter of 2014. Co states, "...We had an excellent quarter as we outperformed our revenue target and delivered strong operating results. Our momentum in the market continues to build as we were awarded several new contracts around the world. We are also releasing our preliminary 2016 outlook today, with continued expectations for strong growth and increasing profitability..."Co issues in-line guidance for FY15, sees FY15 revs of $715 mln vs. $715.66 mln Capital IQ Consensus Estimate. Sees non-GAAP gross margin to be in the 30-33% range and total non-GAAP operating expenses are anticipated to be in the range of $180 million.Co issues upside guidance for FY16, sees FY16 revs of $825 mln vs. $772.97 mln Capital IQ Consensus Estimate. Non-GAAP gross margin for 2016 is expected to improve and to be in the low-to-mid 30% range. Non-GAAP operating expenses for 2016, when compared to 2015, are anticipated to grow 13-15%.

4:35 pm Ixys misses by $0.01, misses on revs (IXYS) :

Reports Q2 (Sep) earnings of $0.16 per share, excluding non-recurring items, $0.01 worse than the single analyst estimate of $0.17; revenues fell 7.2% year/year to $80.25 mln vs the $82.56 mln single analyst estimate.Gross profit margin for the quarter ended September 30, 2015 was 32.4%, an increase of 210 basis points from the gross profit margin in the September 30, 2014 quarter

4:30 pm Ingram Micro beats by $0.04, misses on revs; guides Q4 EPS below consensus, revs below consensus (IM) :

Reports Q3 (Sep) earnings of $0.67 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.63; revenues fell 6.4% year/year to $10.52 bln vs the $10.72 bln Capital IQ Consensus. Co issues downside guidance for Q4, sees EPS of $1.00-1.07 vs. $1.08 Capital IQ Consensus Estimate; sees Q4 revs of $12-12.6 bln vs. $13.02 bln Capital IQ Consensus Estimate.For the 2015 fourth quarter, foreign exchange headwinds are expected to negatively impact worldwide revenue by approximately 6% , or by more than $800 mln, and to negatively impact non-GAAP earnings per diluted share by $0.10 when compared to the 2014 fourth quarter.

4:27 pm AXT beats by $0.02, misses on revs (AXTI) :

Reports Q3 (Sep) net of breakeven, $0.02 better than the Capital IQ Consensus of ($0.02); revenues fell 20.6% year/year to $18.37 mln vs the $20.09 mln Capital IQ Consensus.

4:25 pm SolarCity beats by $1.74, beats on revs (SCTY) :

Reports Q3 (Sep) loss of $0.20 per share, $1.74 better than the Capital IQ Consensus of ($1.94); revenues rose 95.1% year/year to $113.85 mln vs the $111.43 mln Capital IQ Consensus. Cost per Watt Achieves New Record Low of $2.84 PowerCo Platform

TTM Energy Production: 1.5 Terawatt-Hour (TWh), up 75% year-over-year Cumulative MW Installed: 1,674 MW, up 86% year-over-year Cumulative Customers: 298,030, up 77% year-over-year Estimated Nominal Contracted Payments Remaining: $8.9 billion, up 115% year-over-year Net Retained Value: $3.3 Billion, or approximately $33 per basic share.DevCo

Crosses Annualized Run Rate of 1 GW in Installations in 3Q MW Installed: Record 256 MW, up 86% year-over-year; residential up 69% year-over-year MW Booked: 345 MW, up 50% year-over-year Net Increase in Nominal Contracted Payments Remaining: $1.2 billion, up 47% year-over-year DevCo Cost: $2.84 per Watt, down (2%) year-over-year Unlevered IRR: 12% forecast from Q3 2015 installations based on all-in costs including SG&A Economic Value Creation: $239 Million forecast from our incremental Q3 2015 installations Q4 2015 Guidance

Installations of 280 to 300 MW in the fourth quarter. This would represent year-over-year growth of 58%-69% and would translate into full-year 2015 installations of 878-898 MW. This is below the low end of our prior annual guidance as we are cognizant of the inherent uncertainty in the record amount of commercial installations we have planned in December, particularly in light of potential weather-related disruptions and the holiday season. Q4 2015 GAAP revenue guidance Operating Lease and Solar Energy Systems Incentive Revenue of $70-76 million, up 48% year-over-year at the midpointSolar Energy System and Component Sale Revenue is expected to range between $30-32 mln (Total Revenue guidance is $100-108 mln, Capital IQ consensus $117 mln). Operating Lease and Solar Energy Systems Incentive Gross Margin is expected to range between 30% - 32% (or 35% - 37% excluding the impact of approximately $4 million in amortization of intangibles).Non-GAAP Loss Per Share (before Income (Loss) Attributable to Noncontrolling Interests and Redeemable Noncontrolling Interestst is expected to range between ($2.60) -- ($2.75), Capital IQ consensus ($2.15)FY2016 Guidance Introduction

Co is introducing preliminary 2016 guidance of 1.25 GW Installed, representing a year-over-year growth of approximately 41% as compared to the midpoint of 2015 guidance.Expect to announce meaningful reductions to our 2017 cost targets by next earnings call. Expect to generate greater cash flow and position for continued growth that is less susceptible to competitive or regulatory developments than that of any other provider in the category.

4:25 pm Mattson beats by $0.03, beats on revs (MTSN) :

Reports Q3 (Sep) earnings of $0.03 per share, $0.03 better than the Capital IQ Consensus of ($0.00); revenues rose 1.3% year/year to $38.9 mln vs the $36.96 mln Capital IQ Consensus.

4:23 pm Cascade Microtech reports EPS in-line, misses on revs; guides Q4 EPS in-line, revs in-line (CSCD) :

Reports Q3 (Sep) earnings of $0.19 per share, in-line with the Capital IQ Consensus of $0.19; revenues rose 9.5% year/year to $35.8 mln vs the $36.99 mln Capital IQ Consensus. Co issues in-line guidance for Q4, sees EPS of $0.22-0.28 vs. $0.23 Capital IQ Consensus Estimate; sees Q4 revs of $37-40 mln vs. $39.57 mln Capital IQ Consensus Estimate.

4:22 pm Nanometrics beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs below consensus (NANO) :

Reports Q3 (Sep) earnings of $0.05 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.03; revenues rose 68.3% year/year to $45.68 mln vs the $45.41 mln Capital IQ Consensus. Co issues downside guidance for Q4, sees EPS of $(0.10)-0.00, excluding non-recurring items, vs. $0.11 Capital IQ Consensus Estimate; sees Q4 revs of $39-43 mln vs. $47.8 mln Capital IQ Consensus Estimate. 4:22 pm Cohu beats by $0.08, beats on revs; guides Q4 revs in-line (COHU) :

Reports Q3 (Sep) earnings of $0.17 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.09; revenues fell 26.3% year/year to $67.5 mln vs the $65.99 mln Capital IQ Consensus. Co issues in-line guidance for Q4, sees Q4 revs of approximately $63 mln vs. $63.73 mln Capital IQ Consensus Estimate.

4:20 pm Lattice Semi reports EPS in-line, misses on revs; guides Q4 revs below consensus (LSCC) :

Reports Q3 (Sep) loss of $0.04 per share, in-line with the Capital IQ Consensus of ($0.04); revenues rose 26.9% year/year to $109.82 mln vs the $112.09 mln Capital IQ Consensus. Co issues downside guidance for Q4, sees Q4 revs (-3% to +3% from Q3) of ~$106.53-113.11 mln vs. $119.82 mln Capital IQ Consensus Estimate. Gross margin percentage for the fourth quarter of 2015 is expected to be approximately 57.0% plus or minus 2% on a non-GAAP basis.

4:17 pm ON Semiconductor reports EPS in-line, revs in-line; guides Q1 (Mar) revs below consensus (ON) :

Reports Q3 (Sep) earnings of $0.23 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.23; revenues rose 8.5% year/year to $904.2 mln vs the $906.75 mln Capital IQ Consensus.GAAP and non-GAAP gross margin of 34.1%Co issues downside guidance for Q1 (Mar), sees Q1 (Mar) revs of $830-870 mln vs. $882.78 mln Capital IQ Consensus Estimate.

4:14 pm First Solar beats by $1.76, beats on revs; guides FY15 EPS above consensus (FSLR) :

Reports Q3 (Sep) earnings of $3.38 per share, $1.76 better than the Capital IQ Consensus of $1.62; revenues rose 42.9% year/year to $1.27 bln vs the $1.11 bln Capital IQ Consensus. Co issues upside guidance for FY15, sees EPS of $3.5-3.6 bln (Unchanged) vs. $3.32 Capital IQ Consensus Estimate.Gross Margin 24-25% (Prior 21-22%)Operating Expenses $395-405 mln (Prior ($415-425 mln)Operating Income $450-490 mln (Prior ($330-370 mln)EPS $4.30-4.50 (Prior ($3.30-3.60)Net Cash Balance $1.3-1.4 bln (Prior $1.2-1.4 bln)CapEx $175-200 mln (Unchanged)
Working Capital $1.1-1.2 bln (Prior $1.1-1.3 bln)Shipments 2.8-29 GW (Unchanged)

4:10 pm Extreme Networks beats by $0.04, reports revs in-line; guides Q2 EPS above consensus, revs above consensus (EXTR) :

Reports Q1 (Sep) earnings of $0.07 per share, $0.04 better than the Capital IQ Consensus of $0.03; revenues fell 8.8% year/year to $125 mln vs the $125.03 mln Capital IQ Consensus.Inventory ending Q1 was $61.7 million, an increase of $3.7 million from the prior quarter.Cash and investments ended the quarter at $82.0 million, as compared to $76.2 million from the prior quarter Co issues upside guidance for Q2, sees EPS of $0.06-$0.10 vs. $0.06 Capital IQ Consensus Estimate; sees Q2 revs of $130-$140 mln vs. $131.86 mln Capital IQ Consensus Estimate. Sees non-GAAP gross margin between 54.7% and 55.7%.

4:08 pm LinkedIn beats by $0.33, beats on revs; guides Q4 EPS above consensus, revs in-line (LNKD) :

Reports Q3 (Sep) earnings of $0.78 per share, $0.33 better than the Capital IQ Consensus of $0.45; revenues rose 37.2% year/year to $779.6 mln vs the $756.16 mln Capital IQ Consensus.

Co issues guidance for Q4, sees EPS of ~$0.74 vs. $0.66 Capital IQ Consensus Estimate; sees Q4 revs of $845-850 mln vs. $846.28 mln Capital IQ Consensus Estimate."Q3 was a strong quarter for LinkedIn. Our member-facing product pipeline has never been stronger, and recent roll-outs are driving continued positive engagement trends. In terms of our business lines, Talent Solutions performed well, while Marketing Solutions remained stable. We also made good progress in Sales Solutions and lynda.com, our more nascent opportunities, which are future growth drivers for the company."Q3 cumulative members grew 20% to 396 million, and last week reached the 400 million member milestone. Unique visiting members grew 11% to an average of 100 million per month, and member page views grew 33%. This has yielded 20% year over year growth in page views per unique visiting member, continuing a pattern of accelerated growth throughout 2015.

4:06 pm AXT acquires automated equipment from Hitachi Metals for undisclosed amount; not expected to have a meaningful impact on the cost of operations going forward (AXTI)


4:15 pm : The stock market spun its wheels through the bulk of the Thursday affair, but a final-hour charge helped the S&P 500 end little changed while the Nasdaq Composite (-0.4%) underperformed throughout the session.

Equities followed Wednesday's roller-coaster ride with a range-bound Thursday session that saw weakness in heavily-weighted cyclical sectors while health care (+0.5%) surrendered the bulk of its gain into the close; however, the market maintained its range through the afternoon as technology (-0.3%) cut its opening loss in half while energy (+0.5%) and consumer discretionary (+0.3%) outperformed.

Most notably, the technology sector (-0.4%) struggled from the start and the bulk of its weakness could be found in the semiconductor group where NXP Semiconductor (NXPI 73.00, -17.92) plunged 19.7% after below-consensus revenue and concerns about the company's inventories overshadowed a bottom-line beat and an expanded share buyback. Also of note, STMicroelectronics (STM 6.79, -0.42) fell 5.8% after issuing disappointing guidance and denying interest in Fairchild Semiconductor (FCS 16.56, -0.99). Meanwhile, the PHLX Semiconductor Index dove 3.0% after ending yesterday's session above its 200-day moving average (673.21).

Staying in the tech space, GoPro (GPRO 25.62, -4.59) sank 15.2% to a fresh all-time low in reaction to an uninspiring guidance while Cirrus Logic (CRUS 30.33, -1.29) dropped 4.1% despite beating estimates and issuing better than expected revenue guidance.

Similar to technology, growth-sensitive financials (-0.3%) and industrials (-0.1%) underperformed while consumer discretionary (+0.3%) outperformed with help from media names. Charter Communications (CHTR 193.33, +9.23) was a standout performer, spiking 5.0%, in reaction to solid results.

Also of note, the energy sector (+0.5%) displayed relative strength throughout the day while crude oil oscillated near its flat line to end little changed near $46.00/bbl. Earnings contributed to increased activity in the sector with ConocoPhillips (COP 53.62, +0.28), Marathon Petroleum (MPC 51.24, +1.40), Tesoro (TSO 108.99, +3.71), and Suncor Energy (SU 29.48, +1.01) jumping between 0.5% and 3.6% after beating estimates. On the downside, Royal Dutch Shell (RDS.A 52.56, -0.46) fell 0.9% after missing earnings estimates on better than expected revenue.

In addition to energy, the health care sector (+0.5%) provided a measure of support throughout the day. That being said, the sector backed away from its high during afternoon action amid a turnaround in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 328.55, -3.24) ended lower by 1.0%, masking a 6.0% surge in Allergan (AGN 304.38, +17.18) after the company confirmed it has been approached by Pfizer (PFE 34.77, -0.68) about a potential merger.

Unlike stocks, Treasuries slid throughout the session with the 10-yr yield rising eight basis points to 2.17%.

Today's participation was right in line with average as roughly 850 million shares changed hands at the NYSE floor.

Economic data included GDP, Initial Claims, and Pending Home Sales:

GDP increased 1.5% in the third quarter, down from a 3.9% gain in Q2 2015 while the Briefing.com consensus an increase of 1.6%
Even though the headline growth level was on the lighter side, the overall economy looked pretty healthy in the third quarter with the drag resulting from a substantial pullback in inventory growth; however, that was a normal reaction following two consecutive quarterly gains
Excluding inventories, real final sales rose 3.0%, which was in-line with normal potential growth patterns
The weekly initial claims level increased to 260,000 from an unrevised 259,000 while the Briefing.com consensus expected an increase to 264,000
The four-week moving average fell below 260,000 for the first time since 1973
The continuing claims level declined to 2.144 mln from an upwardly revised 2.181 mln (from 2.170 mln) while the consensus expected an increase to 2.185 mln
Pending home sales for September fell 2.3% while the Briefing.com consensus expected an increase of 0.6%.

Tomorrow, September Personal Income (Briefing.com consensus 0.2%), Personal Spending (expected 0.2%), core PCE Prices (consensus 0.1%), and Q3 Employment Cost Index (consensus 0.5%) will all be reported at 8:30 ET while October Chicago PMI (consensus 49.0) and the final reading of the Michigan Sentiment Index for October (expected 92.6) will be released at 9:45 ET and 10:00 ET, respectively.

Nasdaq Composite +7.1% YTD
S&P 500 +1.5% YTD
Dow Jones Industrial Average -0.4% YTD
Russell 2000 -3.2% YTD

DJ30 -23.72 NASDAQ -21.42 SP500 -0.94 NASDAQ Adv/Vol/Dec 968/1.76 bln/1877 NYSE Adv/Vol/Dec 1191/848.5 mln/1855 3:35 pm :

The dollar index remain in the red today, but this didn't give commodities a boost as it normally would
Gold, silver, copper and natural gas futures currently remain near today's lows
Dec gold closed out of today's floor trading session -2.5% at $1147.50/oz, while Dec silver shed -4.4% at $15.56/oz
Dec copper slid -1.7% to $2.32/lb
Natural gas was volatile today, starting the day off strong and holding gains following the weekly EIA storage data, which was bullish for nat gas.
However, following this, nat gas (Dec) would lost steam and finished the day off -1.3% at $2.29/MMBtu

11:59 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (166) outpacing new lows (87) (SCANX) : Stocks that traded to 52 week highs: AAME, AAP, ABCB, ABTX, ACET, ACGL, ACXM, ALLE, AMNB, AMRB, AMWD, AMZN, APLE, AROW, ASGN, AVY, AYI, AZO, BANR, BBCN, BCPC, BKU, BLKB, BNCL, BNK, BOCH, BR, BSQR, BUSE, BYD, BZC, CACI, CAM, CBNJ, CBOE, CFFN, CHDN, CIGI, CINF, CLI, CMN, CNCE, CNO, COLB, CSGS, CSH, CWBC, DCOM, DMND, EA, EBSB, EDU, EDUC, EGHT, ERI, EXLS, EXR, FB, FBC, FCB, FF, FFBC, FIS, FISI, FMS, FNFG, FPRX, FR, FRME, FSB, FULT, GGAL, GNCMA, GPN, GWB, HALL, HOMB, HPY, HRB, HSIC, HSII, ICE, IGLD, INGR, IPG, IPHI, JBT, JKHY, KFY, KRNY, LANC, LDOS, LEA, LII, LKFN, LMCA, MA, MAA, MAS, MBWM, MDAS, MEET, MENT, METR, MORE, MSFG, MTN, MTS, MYGN, NAVG, NBBC, NBHC, NHTC, NP, OA, OCLR, ONFC, ORI, ORLY, OSIS, OZRK, PAM, PATK, PFGC, PFSW, PGC, PGR, POOL, PRA, PRE, PRMW, PSCC, PSX, PVTB, QCRH, RCI, RITT, RLI, RNST, RVNC, SFNC, SIG, SIGI, SIRO, SNBC, SNV, SRCE, SSB, STE, STL, SXI, SYKE, TBK, THG, TRV, TSS, TTEC, ULBI, VGR, VLY, VVI, WAL, WDFC, WNS, XRAY, YDKN

Stocks that traded to 52 week lows: ACTG, AEZS, AGFS, AGNC, AIQ, ARCB, ARCI, ATOS, BBOX, BBW, BLMN, BNSO, BTU, CAMT, CCCR, CHU, CSTM, DDD, DIN, DOM, EVAR, EVH, EXC, EYEG, FCN, FE, FFIV, FSAM, GNC, GNRT, GOGL, GPRO, GSI, GYRO, HBIO, HLS, HNH, HNRG, HTLD, HTS, IILG, IPAS, KFS, KONA, KRNT, LNTH, LOB, LQ, MCUR, MDXG, MRTN, MSL, MYE, NC, NRP, ONCY, OZM, PLXS, PPC, PRXI, PSIX, PSTI, RCII, RLOC, RMCF, ROG, ROKA, ROVI, RP, RRC, SBLK, SDPI, SGNL, SIEN, SJT, SMSI, SMTP, TLN, TPH, TST, UAMY, UQM, USAP, VECO, VKTX, VSI, XRX

ETFs that traded to 52 week highs: none

ETFs that traded to 52 week lows: EPOL,

6:25 am Cabot Micro beats by $0.03, beats on revs (CCMP) :

Reports Q4 (Sep) earnings of $0.50 per share, $0.03 better than the Capital IQ Consensus of $0.47; revenues fell 13.9% year/year to $100.14 mln vs the $98.17 mln Capital IQ Consensus. 5:52 am Canadian Solar signs $100 mln two-year senior secured term loan, issues warrants to the lenders (CSIQ) : In connection with the term loan, Canadian Solar issued the lenders warrants to purchase up to 1,348,040 shares of common stock at an exercise price of $24.48 per share. The warrants will expire two years from the date of the closing, on October 25, 2017. The term loan facility may be increased by up to an additional $100.0 million, subject to customary conditions. The term loan is being used to retire a bridge loan used to finance the acquisition of Recurrent Energy LLC and for general corporate purposes.

4:39 am Nokia beats by EUR0.02, misses on revs; announces EUR7 billion program to optimize capital structure (NOK) :

Reports Q3 (Sep) earnings of 0.08 per share, 0.02 better than the Capital IQ Consensus of 0.06; revenues fell 1.7% year/year to 3.04 bln vs the 3.29 bln Capital IQ Consensus.Reaffirms its FY15 outlook of increased revs YoY in continued op segments and Nokia Networks op marginAdditionally, co announced a planned EUR 7 billion program to optimize Nokia's capital structure and return excess capital to shareholders. , ahead of planned public exchange offer for Alcatel-Lucent securitiesThis program would consist of approximately EUR 4 billion in shareholder distributions and approximately EUR 3 billion of de-leveraging. In addition, Nokia accelerated its annual operating cost synergy target related to the Alcatel-Lucent transaction. Nokia now targets to achieve approximately EUR 900 million of operating cost synergies in full year 2018, compared to its earlier target to achieve approximately EUR 900 million of operating cost synergies in full year 2019.

4:31 am STMicroelectronics beats by $0.04, reports revs in-line; guides Q4 revs below consensus (STM) :

Reports Q3 (Sep) earnings of $0.12 per share, $0.04 better than the Capital IQ Consensus of $0.08; revenues fell 6.5% year/year to $1.76 bln vs the $1.76 bln Capital IQ Consensus. Co issues downside guidance for Q4, sees Q4 revs of down 6% sequentially vs. $1.77 bln Capital IQ Consensus Estimate.

3:47 am NXP Semi beats by $0.08, misses on revs; expands buyback to up to 20 mln shares (NXPI) :

Reports Q3 (Sep) earnings of $1.57 per share, $0.08 better than the Capital IQ Consensus of $1.49; revenues rose 0.5% year/year to $1.52 bln vs the $1.55 bln Capital IQ Consensus. Co issues guidance for Q4, sees Q4 revs of down in the low double to mid-teens range , may not be comparable to $1.61 bln Capital IQ Consensus Estimate.Share repurchase update:NXP repurchased approximately 1.8 million shares in the third quarter of 2015 for a total cost of approximately $158 million. Effective October 29, 2015, NXP expanded its existing stock repurchase program; NXP may repurchase up to twenty million shares of its common stock

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