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Earnings release

Feb 21/a BIDU INTU KHC ED HPE SBAC PBA IQ
Feb 22/b RY MGA WPC COG W PNW ITT USM


In Play from Briefing.com

Updated: 22-Feb-19 10:00 ET

09:41  WRAPX Opening Market Summary: Stocks Off to Higher Start

The S&P 500 opens modestly higher and trades with a gain of 0.3%. The Dow Jones Industrial Average is up 0.4%, and the Nasdaq Composite is up 0.4%

Looking at the S&P 500 sectors shows energy (+0.9%), information technology (+0.8%), and materials (+0.6%) leading the advance. Conversely, the consumer staples (-0.7%), utilities (-0.2%), and real estate (-0.1%) sectors trade in the red.

U.S. Treasures see increased buying interest, pushing yields lower across the curve. The 2-yr yield and the 10-yr yield are down three basis points each to 2.50% and 2.66%, respectively. The U.S. Dollar Index is flat at 96.58. WTI crude is up 0.9% to $57.47/bbl.

09:30  WIRES On The Wires

  • Dermira (DERM) initiated a proof-of-concept study that will evaluate the efficacy and safety of QBREXZA (glycopyrronium) cloth in people living with primary palmar hyperhidrosis (excessive sweating of the hands). Following the approval of QBREXZA in 2018 for the treatment of primary axillary hyperhidrosis, Dermira initiated preclinical research studies designed to understand how glycopyrronium tosylate could benefit other areas of the body beyond the axillae (underarms). The findings from these studies helped to inform the proof-of-concept study design.
  • Dr. Reddy's (RDY) discloses that the audit of its Formulations Shreveport Plant, Louisiana, USA, by the US FDA, has been completed with zero observations.
  • NVIDIA (NVDA) today introduced the GeForce GTX 1660 Ti, a new gaming GPU based on 12th generation Turing architecture that delivers a step up in performance and power efficiency for games, now available worldwide starting at $279.
  • Pan Am Silver (PAAS) and Tahoe Resources (TAHO) today completed the previously announced transaction whereby Pan American acquired all of the issued and outstanding shares of Tahoe.
  • Diana Shipping (DSX) has, through a separate wholly-owned subsidiary, entered into a time charter contract with Koch Shipping Pte. Ltd., Singapore, for its Capesize dry bulk vessel the m/v Houston. The gross charter rate is $10,125/day, minus a 5% commission paid to third parties, for a period of 14-17 months, commencing February 17.
09:24  QTS QTS Realty Trust increases quarterly common stock dividend to $0.44/share from $0.41/share (43.53 )

 
09:12  WRAPX S&P futures vs fair value: +7.60. Nasdaq futures vs fair value: +19.60.

Wall Street is indicated for a slightly higher start, as the S&P 500 futures trade eight points, or 0.3%, above fair value. Investors will be paying attention for any U.S.-China trade updates and to some Fedspeak today.

President Trump is expected to meet with China's Vice Premier Liu He at 2:30 p.m. ET. In addition, New York Fed President (permanent voter) John Williams will speak at 10:15 a.m. ET, and Vice Chair (permanent voter) Richard Clarida and St. Louis Fed President (FOMC voter) James Bullard will speak at 1:30 pm. ET in a panel discussion about the Fed's balance sheet.

Kraft Heinz (KHC 36.10, -12.08) shares have been punished this morning, sinking 25.1%, after the company missed earnings estimates, cut its quarterly dividend to $0.40/share from $0.625/share, and disclosed an SEC subpoena surrounding its accounting practices.

U.S. Treasuries are under early selling pressure, which is driving yields lower across the curve. The 2-yr yield and the 10-yr yield are down three basis points each to 2.50% and 2.66%, respectively. The U.S. Dollar Index is flat at 96.62. WTI crude is up 1.3% to $57.74/bbl.

09:07  SUMRX Economic Summary: No U.S. data today; Wholesale inventories due out Monday at 10:00 ET

Upcoming Economic Data:

  • December Wholesale Inventories due out Monday at 10:00 (November was 0.3%)

Upcoming Fed/Treasury Events:

  • Fed's Williams to speak today at 10:15 ET & 17:30 ET
  • Fed's Clarida to speak today at 12:00 ET
  • Fed's Quarles to speak today at 13:30 ET
  • Fed's Harker to speak today at 13:30 ET
  • Fed's Bullard to speak today at 13:30 ET

Other International Events of Interest

  • Reserve Bank of Australia Governor Philip Lowe spoke overnight, saying that there is no strong case for changes to the cash rate in the near term, but he acknowledged that the rate outlook is more evenly balanced than six months ago. Meanwhile Deputy Governor Guy Debelle said that it is highly unlikely that the RBA would need to launch quantitative easing.
    08:50  WRAPX S&P futures vs fair value: +6.60. Nasdaq futures vs fair value: +12.90.

    The S&P 500 futures trade seven points, or 0.2%, above fair value.

    Equity indices in the Asia-Pacific region ended the week on a mostly higher note with markets in China and Hong Kong showing relative strength. China's Vice Premier Liu He is expected to meet with President Trump today at 14:30 ET, marking a conclusion of two-day trade talks. Reserve Bank of Australia Governor Philip Lowe spoke overnight, saying that there is no strong case for changes to the cash rate in the near term, but he acknowledged that the rate outlook is more evenly balanced than six months ago. Meanwhile Deputy Governor Guy Debelle said that it is highly unlikely that the RBA would need to launch quantitative easing. Australia's Trade Minister Simon Birmingham said there is no basis to believe that China banned coal imports from Australia, though processing times may have slowed. The comments follow yesterday's Reuters report, which claimed that imports of Australian coal were banned from going through the port in Dalian.

    • In economic data:
      • China's January House Prices +10.0% year-over-year (last 9.7%)
      • Japan's January National CPI +0.3% month-over-month (last -0.2%); +0.2% year-over-year, as expected (last 0.3%). National Core CPI +0.8% year-over-year, as expected (last 0.7%)
      • South Korea's January PPI -0.2% month-over-month (last -0.6%); +0.2% year-over-year (last 0.9%)
      • Hong Kong's January CPI 2.4% year-over-year (last 2.5%)

    ---Equity Markets---

    • Japan's Nikkei: -0.2% (+2.5% for the week)
    • Hong Kong's Hang Seng: +0.7% (+3.3% for the week)
    • China's Shanghai Composite: +1.9% (+4.5% for the week)
    • India's Sensex: -0.1% (-1.9% for the week)
    • South Korea's Kospi: +0.1% (+1.6% for the week)
    • Australia's ASX All Ordinaries: +0.4% (+1.5% for the week)

    Major European indices trade in the green. There were continued reports about a potential delay to Brexit with the latest speculation suggesting Prime Minister Theresa May will request a three-month extension. European Central Bank policymaker Ewald Nowotny said that growth expectations for Germany will likely be revised down, adding that the ECB has until the summer to decide whether to launch a new targeted long-term refinancing operation (TLTRO). Germany's ifo Business Climate Index (98.5; last 99.3) declined to its lowest level since late 2014.

    • In economic data:
      • Eurozone January CPI -1.0% month-over-month (expected -1.1%; last 0.0%); +1.4% year-over-year, as expected (last 1.5%). January Core CPI -1.5% month-over-month, as expected (last -1.5%); +1.1% year-over-year, as expected (last 0.9%)
      • Germany's February ifo Business Climate Index 98.5 (expected 99.0; last 99.3), Business Expectations 93.8 (expected 94.2; last 94.2), and Current Assessment 103.4 (expected 103.9; last 104.3). Q4 GDP left unrevised at 0.0% quarter-over-quarter, as expected (last 0.0%); +0.9% year-over-year, as expected (last 0.9%)

    ---Equity Markets---

    • STOXX Europe 600: +0.3% (+0.7% week-to-date)
    • Germany's DAX: +0.4% (+1.5% week-to-date)
    • UK's FTSE 100: +0.5% (-0.5% week-to-date)
    • France's CAC 40: +0.3% (+1.1% week-to-date)
    • Italy's FTSE MIB: +0.3% (+0.3% week-to-date)
    • Spain's IBEX 35: unch (+0.7% week-to-date)
    08:42  PNW Pinnacle West beats by $0.05, beats on revs; reaffirms FY19 EPS guidance (91.97 )

    • Reports Q4 (Dec) earnings of $0.23 per share, $0.05 better than the S&P Capital IQ Consensus of $0.18; revenues fell 0.4% year/year to $756.4 mln vs the $703.26 mln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19, sees EPS of $4.75-4.95 vs. $4.85 S&P Capital IQ Consensus. Co expects to achieve a consolidated earned return on average common equity of more than 9.5 percent.
    08:38  NEM Newmont Mining: Barrick Gold Corporation (GOLD) confirms that it has reviewed the opportunity to merge with Newmont Mining in an all-share nil premium transaction; no decision has been taken at this time (35.41 )

     
    08:33  ORTX Orchard Therapeutics will present two-year follow-up data in 20 patients from the registrational trial evaluating OTL-101 hematopoietic stem cell gene therapy for the treatment of severe combined immune deficiency due to adenosine deaminase deficiency (15.61 )

    Treatment with OTL-101 resulted in 100% overall survival (OS) and 100% event free survival (EvFS) at 24 months

    • For OS, there was a difference of 12% (95% CI: -5.6, 31.2, p = 0.121) between the patients treated with OTL-101 compared with HSCT overall
    • For EvFS, there was a statistically significant difference of 44% (95% CI: 22.8, 65.2, p = 0.001) between the patients treated with OTL-101 compared with HSCT overall

    Evidence of immune reconstitution was observed in patients treated with OTL-101

    • By 24 months post-treatment, 90% of patients receiving OTL-101 were able to stop immunoglobulin replacement therapy compared with 55% receiving HSCT overall
    • Over 24 months, none of the patients treated with OTL-101 restarted enzyme replacement therapy (ERT) after stopping 30 days post-treatment per protocol, whereas three patients in the historical control group received long-term ERT after HSCT and seven required additional rescue HSCT
    08:32  HRTX Heron Therapeutics reports Q4 results; provides FY19 guidance (28.07 )

    • Co reports Q4 EPS of ($0.63) vs ($0.47) Capital IQ Consensus; revs +188% y/y to $28.8 mln vs $26.9 mln Capital IQ Consensus
    • 2019 Net Sales Guidance: Heron expects 2019 net sales for the CINV franchise of $115 million to $120 million.
    • Acceptance of HTX-011 NDA for Postoperative Pain Management with Priority Review Designation; PDUFA Date of April 30, 2019
    08:31  DPLO Diplomat Pharmacy delays release of 2018 financial results and filing of 10-K as it asses write down of PBM business; reaffirms FY18 but withdraws FY19 outlook following weak January, customer losses in PBM business, challenges in specialty pharma market (13.46 )

    Co is postponing the release of its fourth-quarter and full-year 2018 financial results and the related conference call and webcast to March 15, 2019. The Company expects to file its annual report on Form 10-K for the fiscal year ended December 31, 2018 soon afterwards.

    The postponement is due primarily to the recent determination by Diplomat and its auditors that the company will need to record a non-cash impairment charge related to its PBM business. This charge is expected to be equal to a significant portion of the PBM's Goodwill and Definite-lived intangible assets, which total ~$630 million as of December 31, 2018, prior to impairment charges. The charge relates to the 2017 acquisitions of NPS and LDI and is driven by reduced financial forecasts for the PBM business. Despite success in improving our customer service performance to industry standard levels, previously disclosed execution challenges experienced in 2018 continue to impact customer perception and have resulted in further customer losses. The company and its auditors require additional time to finalize the level of impairment, the allocation between Goodwill and Definite-lived intangible assets, tax implications and the total impact on Diplomat's 2018 fourth quarter and full year financial results.

    Full-year 2018 revenues and Total Adjusted EBITDA are not impacted by any impairment charge and the company's previously communicated outlook of 2018 revenues of $5.5 - $5.6 billion and 2018 EBITDA of $167 - $170 million remain unchanged.

    However, the company has withdrawn its preliminary 2019 full-year outlook provided in January (rev +3% to $5.6-5.8 bln, flat to low-single-digit percent year-over-year adjusted EBITDA growth). The withdrawal is based principally on the following factors: January results have come in significantly below expectations, Diplomat has been notified of additional customer losses in its PBM business since early January, which combined with a softer outlook for client wins and other factors has led to a lower-than-previously forecasted outlook for its PBM business in 2019, The company is observing increased competitive pressure in the specialty market, driving a reduced outlook for script volumes in 2019, In its specialty business, Diplomat has observed that increasingly aggressive member channel management techniques are being implemented by its large, integrated competitors, which is reducing the volume of scripts sent to Diplomat, and In early 2019, the company has observed a less favorable drug mix within certain payer specialty contracts, reducing profitability.

    The company expects to provide an updated 2019 outlook when it reports fourth quarter and full-year 2018 results.

    08:25  WRAPX S&P futures vs fair value: +10.40. Nasdaq futures vs fair value: +27.10.

    The S&P 500 futures trade 10 points, or 0.4%, above fair value. The S&P 500 enters the session roughly unchanged for the week.

    Looking at the weekly S&P 500 sector performances shows materials (+1.9%) and utilities (+1.7%) as the only groups with gains over 1.0% this week. Conversely, the health care (-1.3%) and energy (-0.8%) sectors are this week's laggards.

    Separately, Intel (INTC 52.84, +1.43) is up 2.8% in pre-market trading after Morgan Stanley upgraded the stock to 'Overweight' from 'Equal-Weight' and raised its price target to $64.

    08:15  PAGS PagSeguro Digital reaffirms FY19 proft guidance (22.85 )

    • Reaffirms FY19 non-GAAP net income +24-40% to BRL 1.322-1.500 bln vs. ests just under BRL 1.49 bln.
    • Cash Flow close to break-even.
    • Acquired Tilix -- Automated application that innovates the experience in paying bills
    08:05  BONDX Overnight Treasury Market Summary

    Inching Higher

    • U.S. Treasuries are on track for a modestly higher start after Treasury futures inched higher in overnight action. The overnight advance in the futures market was subdued, but steady, lifting most tenors to levels seen yesterday morning. The U.S. Dollar Index, meanwhile, is up 0.1% at 96.70, seeking its second consecutive advance. China's Vice Premier Liu He is scheduled to meet with President Trump today at 14:30 ET to conclude the second day of the latest round of trade talks. Participants will not receive any data today, but with several Fed speakers scheduled throughout the day, the market will be curious to hear the overall tone of the comments from policymakers.
    • Yield Check:
      • 2-yr: -1 bp to 2.52%
      • 3-yr: -1 bp to 2.49%
      • 5-yr: -1 bp to 2.50%
      • 10-yr: -1 bp to 2.68%
      • 30-yr: -2 bps to 3.03%
    • News:
      • Reserve Bank of Australia Governor Philip Lowe spoke overnight, saying that there is no strong case for changes to the cash rate in the near term, but he acknowledged that the rate outlook is more evenly balanced than six months ago. Meanwhile Deputy Governor Guy Debelle said that it is highly unlikely that the RBA would need to launch quantitative easing.
      • Australia's Trade Minister Simon Birmingham said there is no basis to believe that China banned coal imports from Australia, though processing times may have slowed. The comments follow yesterday's Reuters report, which claimed that imports of Australian coal were banned from going through the port in Dalian.
      • There were continued reports about a potential delay to Brexit with the latest speculation suggesting Prime Minister Theresa May will request a three-month extension.
      • European Central Bank policymaker Ewald Nowotny said that growth expectations for Germany will likely be revised down, adding that the ECB has until the summer to decide whether to launch a new targeted long-term refinancing operation (TLTRO).
      • Germany's February ifo Business Climate Index decreased to 98.5 (expected 99.0) from 99.3. Business Expectations fell to 93.8 (expected 94.2) from 94.2 while Current Assessment declined to 103.4 (expected 103.9) from 104.3.
    • Commodities:
      • WTI Crude: +1.0% to $57.51/bbl
      • Gold: -0.2% to $1325.70/ozt
      • Copper: +1.7% to $2.95/lb
    • Currencies:
      • EUR/USD: -0.1% to 1.1322
      • GBP/USD: -0.5% to 1.2972
      • USD/CNH: UNCH at 6.7190
      • USD/JPY: +0.2% to 110.87
    • No Data Scheduled for Today:
    • Fed Speakers:
      • 8:15 ET: Atlanta Fed President (non-voter) Raphael Bostic
      • 10:15 ET: New York Fed President (permanent voter) John Williams
      • 12:00 ET: Vice Chair (permanent voter) Richard Clarida
      • 13:30 ET: St. Louis Fed President (FOMC voter) James Bullard
      • 13:30 ET: Philadelphia Fed President (non-voter) Patrick Harker
      • 13:30 ET: Governor (FOMC voter) Randal Quarles
    08:05  HAIN Hain Celestial completes first step in divestiture of Hain Pure Protein operating segment with the sale of the Plainville Farms business to Plainville Brands; terms not disclosed (18.09 )

    Plainville Farms did not contribute to earnings or cash flow in fiscal year 2018. With respect to the divestiture of the remainder of its Hain Pure Protein operating segment, the process remains ongoing and the Company continues to anticipate closing in the coming months.
    08:05  SUMRX Gapping up/down: TTD +15%, W +10%, ROKU +6% and BIDU +1.5% after earnings, INTC +3% and C +1% after upgrades; STMP -51%, KHC -22%, DBX -7% and FSLR -6% after earnings, LRCX -2% after downgrade

    Gapping up
    In reaction to strong earnings/guidance
    :

    • BOOM +17.7%, XOG +16.8% (also files 437.5k share common stock offering by selling stockholder) TTD +14.6%, TXMD +11%, W +10.1%, SWM +9.6%, PAGS +9.4%, CATM +8.7%, OLED +6.8%, ROKU +6%, FIX +5.4% (also increases quarterly dividend; to acquire Walker TX Holding Company), COLD +5.1%, TI +4.9%, HMSY +4.8%, ATUS +4.1%, BYD +4%, CYTK +4%, CUBE +3.6%, RUTH +3.1%, CNK +3%, ZG +2.9%, MGA +2.9%, HTGC +2.4%, ASIX +2.4%, KL +2.1%, ACIA +2%, KEYS +1.8%, ITT +1.8%, HPE +1.7%, BIDU +1.5%, TVPT +1.3%, IQ +1%

    M&A news:

    • NEM +3.7% (Newmont Mining: Barrick Gold (GOLD) considering hostile takeover of NEM, according to Globe and Mai)

    Other news:

    • KNDI +5% (attributed to upcoming 60 Minutes piece on China electric cars)
    • ARAY +3.4% (announces data from an international, randomized, 38-center trial show that treatment with SBRT results in a similar safety profile to conventional radiation in men with low- or intermediate-risk prostate cancer)
    • PCG +2.5% (extending this week's rebound)
    • NIO +2.1% (attributed to upcoming 60 Minutes piece on China electric cars)
    • WIFI +1.9% (appoints Mike Finley as CEO, effective March 18; company reaffirms FY18 financial guidance)
    • HK +1.1% (announces resignations of Chairman and CEO Floyd Wilson and of CFO Mark Mize)
    • PXD +0.8% (CEO, Timothy L. Dove, to retire; Scott D. Sheffield, Chairman of the Board, will return to his former role as CEO)
    • CGC +0.8% (Alimentation Couche-Tard entered into a multi-year agreement with CGC) GT +0.6% (to join S&P MidCap 400)

    Analyst comments:

    • LSCC +5.6% (initiated with a Outperform at Cowen)
    • NDLS +4.3% (upgraded to Buy from Hold at Jefferies)
    • MNKD +4.1% (initiated with a Outperform at SVB Leerink)
    • INTC +2.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
    • PLNT +2.2% (upgraded to Buy from Hold at Jefferies)
    • NVDA +1.3% (initiated with a Overweight at Atlantic Equities)
    • STM +1.2% (initiated with a Outperform at Cowen)
    • C +1.1% (upgraded to Buy from Hold at Jefferies)
    • UTX +0.8% (upgraded to Overweight from Neutral at JP Morgan)

    Gapping down
    In reaction to disappointing earnings/guidance
    :

    • STMP -51.2% (will discontinue its exclusive partnership with USPS), KHC -22.3% (also discloses receipt of SEC subpoena and declares lowered quarterly dividend), CASA -18.5% (also to acquire NetComm Wireless for approximately A$161 mln), MDRX -15.8%, NHTC -15% (also voluntarily decided to temporarily suspend member activities), AAOI -12.3%, UCTT -11.6%, BJRI -9.6%, EGO -9.3%, TGH -8%, APPN -7.1%, NVRO -7.1%, DBX -6.8%, FSLR -5.7%, INFN -5.2%, EVRG -4.8%, BEAT -4.4%, CENX -4.2%, RMAX -3.4%, BMRN -3.3%, VERI -2.9%, STAA -2.5%, LNT -2.3%, B -1.9%, PE -1.6%, CWST -1.4%, ANIK -1.2%, PSO -0.8%

    Select KHC peers showing weakness:

    • CPB -3.5%, GIS -3.2%, K -2.2%, MDLZ -2%

    Other news:

    • ARLO -2% (files 10K which contains certain adjustments to Q4 results; guidance reiterated)
    • WAB -1.5% (will replace Goodyear Tire in the S&P 500)
    • CSIQ -0.8% (following FSLR results)

    Analyst comments:

    • XNCR -4.8% (downgraded to Reduce from Neutral at Nomura/Instinet)
    • TNK -2.8% (downgraded to Underweight from Neutral at JP Morgan)
    • FIT -2.1% (downgraded to Neutral from Outperform at Wedbush )
    • ELVT -2.1% (downgraded to Neutral from Buy at UBS)
    • LRCX -2% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
    • JWN -1.8% (downgraded to Hold from Buy at Deutsche Bank)
    • CWST -1.4% (downgraded to Hold from Buy at Stifel)
    • CONE -1.3% (downgraded to Hold from Buy at Jefferies)
    • FIVE -1% (downgraded to Neutral from Overweight at JP Morgan)
    • QLYS -1% (downgraded to Hold from Buy at Berenberg)
    08:04  HTH Hilltop Holdings announces retirement of Co-Chief Executive Officer and Vice Chairman, Alan B. White, effective April 1, 2019 (19.61 )

     
    08:04  SYNL Synalloy's Board authorizes 850K stock repurchase program (13.03 )

     
    08:03  VYGR Voyager Therapeutics and AbbVie (ABBV) announce strategic collaboration and option agreement to develop and commercialize vectorized antibodies directed at pathological species of alpha-synuclein for the potential treatment of Parkinson's disease and other diseases (synucleinopathies) characterized by the abnormal accumulation of misfolded alpha-synuclein protein (10.68 )

    Voyager will receive an upfront cash payment of $65 million and has the potential to earn up to $245 million in preclinical and Phase 1 option payments. Voyager is also eligible to receive up to an additional $728 million in potential development and regulatory milestone payments for each alpha-synuclein vectorized antibody compound. Voyager is eligible to receive tiered royalties on the global commercial net sales of each alpha-synuclein vectorized antibody and may also earn up to a total of $500 million in commercial milestones.
    08:02  ETM Entercom misses by $0.04, reports revs in-line (7.61 )

    • Reports Q4 (Dec) earnings of $0.35 per share, excluding non-recurring items, $0.04 worse than the single analyst estimate of $0.39; revenues rose 66.8% year/year to $411.38 mln vs the $410 mln single analyst estimate.
    • Pro Forma Adjusted EBITDA for the quarter was $111.1 million, up 27% compared to $87.5 million in the fourth quarter of 2017
    08:02  ALDR Alder BioPharmaceuticals submits Biologics License Application to FDA for eptinezumab (14.17 )

    • Eptinezumab is an investigational monoclonal antibody (mAb) for migraine prevention targeting the calcitonin gene-related peptide (CGRP) and is Alder's lead commercial candidate. If the BLA submission is accepted and the FDA grants approval of eptinezumab, Alder will be on track for a Q1 2020 commercial launch.
    • The BLA includes, and is supported by, positive data from Alder's PROMISE 1 and PROMISE 2 Phase 3 clinical trials, open-label safety study, pharmacokinetic (PK) comparability study and chemistry, manufacturing, and controls (CMC) data packages.
    08:01  SCANX Gapping down

    Gapping down
    In reaction to disappointing earnings/guidance
    :

    • STMP -51.2% (will discontinue its exclusive partnership with USPS), KHC -22.3% (also discloses receipt of SEC subpoena and declares lowered quarterly dividend), CASA -18.5% (also to acquire NetComm Wireless for approximately A$161 mln), MDRX -15.8%, NHTC -15% (also voluntarily decided to temporarily suspend member activities), AAOI -12.3%, UCTT -11.6%, BJRI -9.6%, EGO -9.3%, TGH -8%, APPN -7.1%, NVRO -7.1%, DBX -6.8%, FSLR -5.7%, INFN -5.2%, EVRG -4.8%, BEAT -4.4%, CENX -4.2%, RMAX -3.4%, BMRN -3.3%, VERI -2.9%, STAA -2.5%, LNT -2.3%, B -1.9%, PE -1.6%, CWST -1.4%, ANIK -1.2%, PSO -0.8%

    Select KHC peers showing weakness:

    • CPB -3.5%, GIS -3.2%, K -2.2%, MDLZ -2%

    Other news:

    • ARLO -2% (files 10K which contains certain adjustments to Q4 results; guidance reiterated)
    • WAB -1.5% (will replace Goodyear Tire in the S&P 500)
    • CSIQ -0.8% (following FSLR results)

    Analyst comments:

    • XNCR -4.8% (downgraded to Reduce from Neutral at Nomura/Instinet)
    • TNK -2.8% (downgraded to Underweight from Neutral at JP Morgan)
    • FIT -2.1% (downgraded to Neutral from Outperform at Wedbush )
    • ELVT -2.1% (downgraded to Neutral from Buy at UBS)
    • LRCX -2% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
    • JWN -1.8% (downgraded to Hold from Buy at Deutsche Bank)
    • CWST -1.4% (downgraded to Hold from Buy at Stifel)
    • CONE -1.3% (downgraded to Hold from Buy at Jefferies)
    • FIVE -1% (downgraded to Neutral from Overweight at JP Morgan)
    • QLYS -1% (downgraded to Hold from Buy at Berenberg)
    08:01  PJC Piper Jaffray appoints CEO Chad Abraham as Chairman of the Board; Andrew Duff, chairman of the board, will retire from the board of directors at the annual meeting (71.98 )

     
    07:59  WRAPX S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +29.40.

    The S&P 500 futures trade 10 points, or 0.4%, above fair value, as investors remain optimistic about trade negotiations with China. President Trump is expected to meet with China's Vice Premier Liu He today at 2:30 p.m. ET.

    The market will continue to look for a memorandum of understanding between the two nations, a date and place of a potential summit between President Trump and China's President Xi, and an announcement if the March 1 deadline will be delayed. 

    There will also be several Federal Reserve officials speaking today. New York Fed President (permanent voter) John Williams will speak at 10:15 a.m. ET about the prospects for inflation in a high-pressure economy. Vice Chair (permanent voter) Richard Clarida and St. Louis Fed President (FOMC voter) James Bullard will speak about the Fed's balance sheet at 1:30 p.m. ET.

    In earnings news, Kraft Heinz (KHC 38.25, -9.93) has plunged 20.6% in pre-market trading after the company missed earnings estimates, cut its quarterly dividend to $0.40/share from $0.625/share, and disclosed an SEC subpoena surrounding its accounting practices.

    U.S. Treasuries are roughly unchanged with the 2-yr yield and the 10-yr yield down one basis point each to 2.52% and 2.68%, respectively. The U.S. Dollar Index is up 0.1% to 96.68. WTI crude is up 0.9% to $57.45/bbl.

    In U.S. Corporate news:

    • Kraft Heinz (KHC 38.25, -9.93): -20.6% after the company missed earnings estimates, cut its quarterly dividend to $0.40/share from $0.625/share, and disclosed an SEC subpoena surrounding its accounting practices.
    • Wayfair (W 125.00, +7.72): +6.6% after reporting better-than-expected top and bottom lines.
    • Roku (ROKU 54.51, +3.03): +5.9% after the company beat top and bottom-line expectations and guided fiscal 2019 revenue above consensus. 
    • Stamps.com (STMP 101.20, -96.88): -48.9% after the company guided fiscal 2019 earnings and revenue below consensus, although did beat top and bottom-line estimates.

    Reviewing overnight developments:

    • Equity indices in the Asia-Pacific region ended the week on a mostly higher note with markets in China and Hong Kong showing relative strength. Japan's Nikkei -0.2%, Hong Kong's Hang Seng +0.7%, China's Shanghai Composite +1.9%, India's Sensex -0.1%, South Korea's Kospi +0.1%, Australia's ASX All Ordinaries +0.4%.
      • In economic data:
        • China's January House Prices +10.0% year-over-year (last 9.7%)
        • Japan's January National CPI +0.3% month-over-month (last -0.2%); +0.2% year-over-year, as expected (last 0.3%). National Core CPI +0.8% year-over-year, as expected (last 0.7%)
        • South Korea's January PPI -0.2% month-over-month (last -0.6%); +0.2% year-over-year (last 0.9%)
        • Hong Kong's January CPI 2.4% year-over-year (last 2.5%)
      • In news:
        • China's Vice Premier Liu He is expected to meet with President Trump today at 14:30 ET, marking a conclusion of two-day trade talks.
        • Reserve Bank of Australia Governor Philip Lowe spoke overnight, saying that there is no strong case for changes to the cash rate in the near term, but he acknowledged that the rate outlook is more evenly balanced than six months ago.
        • Meanwhile Deputy Governor Guy Debelle said that it is highly unlikely that the RBA would need to launch quantitative easing.
        • Australia's Trade Minister Simon Birmingham said there is no basis to believe that China banned coal imports from Australia, though processing times may have slowed. The comments follow yesterday's Reuters report, which claimed that imports of Australian coal were banned from going through the port in Dalian.
    • Major European indices trade in the green. STOXX Europe 600 +0.3%, Germany's DAX +0.6%, UK's FTSE 100 +0.6%, France's CAC 40 +0.4%, Italy's FTSE MIB +0.3%, Spain's IBEX 35 +0.3%.
      • In economic data:
        • Eurozone January CPI -1.0% month-over-month (expected -1.1%; last 0.0%); +1.4% year-over-year, as expected (last 1.5%). January Core CPI -1.5% month-over-month, as expected (last -1.5%); +1.1% year-over-year, as expected (last 0.9%)
        • Germany's February ifo Business Climate Index 98.5 (expected 99.0; last 99.3), Business Expectations 93.8 (expected 94.2; last 94.2), and Current Assessment 103.4 (expected 103.9; last 104.3). Q4 GDP left unrevised at 0.0% quarter-over-quarter, as expected (last 0.0%); +0.9% year-over-year, as expected (last 0.9%)
      • In news:
        • There were continued reports about a potential delay to Brexit with the latest speculation suggesting Prime Minister Theresa May will request a three-month extension.
        • European Central Bank policymaker Ewald Nowotny said that growth expectations for Germany will likely be revised down, adding that the ECB has until the summer to decide whether to launch a new targeted long-term refinancing operation (TLTRO).
        • Germany's ifo Business Climate Index (98.5; last 99.3) declined to its lowest level since late 2014.
    07:58  SCANX Gapping up

    Gapping up
    In reaction to strong earnings/guidance
    :

    • BOOM +17.7%, XOG +16.8% (also files 437.5k share common stock offering by selling stockholder) TTD +14.6%, TXMD +11%, W +10.1%, SWM +9.6%, PAGS +9.4%, CATM +8.7%, OLED +6.8%, ROKU +6%, FIX +5.4% (also increases quarterly dividend; to acquire Walker TX Holding Company), COLD +5.1%, TI +4.9%, HMSY +4.8%, ATUS +4.1%, BYD +4%, CYTK +4%, CUBE +3.6%, RUTH +3.1%, CNK +3%, ZG +2.9%, MGA +2.9%, HTGC +2.4%, ASIX +2.4%, KL +2.1%, ACIA +2%, KEYS +1.8%, ITT +1.8%, HPE +1.7%, BIDU +1.5%, TVPT +1.3%, IQ +1%

    M&A news:

    • NEM +3.7% (Newmont Mining: Barrick Gold (GOLD) considering hostile takeover of NEM, according to Globe and Mai)

    Other news:

    • KNDI +5% (attributed to upcoming 60 Minutes piece on China electric cars)
    • ARAY +3.4% (announces data from an international, randomized, 38-center trial show that treatment with SBRT results in a similar safety profile to conventional radiation in men with low- or intermediate-risk prostate cancer)
    • PCG +2.5% (extending this week's rebound)
    • NIO +2.1% (attributed to upcoming 60 Minutes piece on China electric cars)
    • WIFI +1.9% (appoints Mike Finley as CEO, effective March 18; company reaffirms FY18 financial guidance)
    • HK +1.1% (announces resignations of Chairman and CEO Floyd Wilson and of CFO Mark Mize)
    • PXD +0.8% (CEO, Timothy L. Dove, to retire; Scott D. Sheffield, Chairman of the Board, will return to his former role as CEO)
    • CGC +0.8% (Alimentation Couche-Tard entered into a multi-year agreement with CGC) GT +0.6% (to join S&P MidCap 400)

    Analyst comments:

    • LSCC +5.6% (initiated with a Outperform at Cowen)
    • NDLS +4.3% (upgraded to Buy from Hold at Jefferies)
    • MNKD +4.1% (initiated with a Outperform at SVB Leerink)
    • INTC +2.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
    • PLNT +2.2% (upgraded to Buy from Hold at Jefferies)
    • NVDA +1.3% (initiated with a Overweight at Atlantic Equities)
    • STM +1.2% (initiated with a Outperform at Cowen)
    • C +1.1% (upgraded to Buy from Hold at Jefferies)
    • UTX +0.8% (upgraded to Overweight from Neutral at JP Morgan)
    07:50  TDS Telephone & Data misses by $0.10, reports revs in-line; guides FY19 revs above consensus; raises quarterly dividend to $0.165/share from $0.16/share (38.72 )

    • Reports Q4 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.10 worse than the single analyst estimate of $0.24; revenues rose 1.8% year/year to $1.33 bln vs the $1.34 bln S&P Capital IQ Consensus.
    • Co issues upside guidance for FY19, sees FY19 revs of $5.225-5.475 bln vs. $5.21 bln S&P Capital IQ Consensus.
    • Co declared a first quarter 2019 dividend of $0.165 per Common Share and Series A Common Share (prior dividend $0.16/share).
    07:48  BHC Bausch Health commences $500 mln offering of senior secured notes due 2027 (23.51 )

     
    07:46  TTEC TTEC Holdings increases semi-annual dividend to $0.30/share from $0.28/share (35.12 )

     
    07:33  WPC W.P. Carey beats by $0.19, misses on revs; guides FY19 FFO above consensus (74.40 )

    • Reports Q4 (Dec) funds from operations of $1.33 per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of $1.14; revenues rose 39.0% year/year to $273.4 mln vs the $283.87 mln S&P Capital IQ Consensus.
    • Co issues upside guidance for FY19, sees FFO of $4.95-5.15, excluding non-recurring items, vs. $4.71 S&P Capital IQ Consensus.
    07:31  ARAY Accuray announces data from an international, randomized, 38-center trial show that treatment with SBRT results in a similar safety profile to conventional radiation in men with low- or intermediate-risk prostate cancer (5.27 )

    In the PACE trial, SBRT was delivered in five sessions while conventional radiation therapy was delivered in 20 or 39 sessions. The Phase 3 trial found that despite the high dose delivered to the prostate, use of SBRT and conventional radiation therapy result in comparable rates of acute gastrointestinal and genitourinary toxicity.
    07:30  SUMRX European Markets Update: DAX +0.6%, FTSE +0.6%, CAC +0.4%

    Major European indices trade in the green. There were continued reports about a potential delay to Brexit with the latest speculation suggesting Prime Minister Theresa May will request a three-month extension. European Central Bank policymaker Ewald Nowotny said that growth expectations for Germany will likely be revised down, adding that the ECB has until the summer to decide whether to launch a new targeted long-term refinancing operation (TLTRO). Germany's ifo Business Climate Index (98.5; last 99.3) declined to its lowest level since late 2014.

    • In economic data:
      • Eurozone January CPI -1.0% month-over-month (expected -1.1%; last 0.0%); +1.4% year-over-year, as expected (last 1.5%). January Core CPI -1.5% month-over-month, as expected (last -1.5%); +1.1% year-over-year, as expected (last 0.9%)
      • Germany's February ifo Business Climate Index 98.5 (expected 99.0; last 99.3), Business Expectations 93.8 (expected 94.2; last 94.2), and Current Assessment 103.4 (expected 103.9; last 104.3). Q4 GDP left unrevised at 0.0% quarter-over-quarter, as expected (last 0.0%); +0.9% year-over-year, as expected (last 0.9%)

    ---Equity Markets---

    • STOXX Europe 600: +0.3% (+0.7% week-to-date)
    • Germany's DAX: +0.6% (+1.7% week-to-date)
    • UK's FTSE 100: +0.6% (-0.4% week-to-date)
    • France's CAC 40: +0.4% (+1.2% week-to-date)
    • Italy's FTSE MIB: +0.3% (+0.3% week-to-date)
    • Spain's IBEX 35: +0.3% (+1.0% week-to-date)

    ---FX---

    • EUR/USD: UNCH at 1.1334
    • GBP/USD: -0.3% to 1.2998
    • USD/CHF: +0.1% to 1.0010
    07:26  S&P futures vs fair value: +11.10. Nasdaq futures vs fair value: +33.60.

    07:18  MGLN Magellan Health shareholder Starboard 'will be nominating a full slate of highly qualified candidates for election to the Board ' (70.50 )

    Starboard expects that five of the Company's nine current Board members will be standing for election at the Annual Meeting, and if that remains the case, Starboard has indicated that it would withdraw one of its six director candidates.
    07:15  SCANX Early premarket gappers

    Gapping up:

    • XOG +23.4%, BOOM +17.7%, TTD +12.8%, TXMD +11%, SWM +9.6%, PAGS +9.4%, CATM +8.7%, ROKU +6.1%, OLED +6.1%, FIX +5.4%, W +5.2%, COLD +5.1%, TI +4.9%, KNDI +4.3%, KL +4.3%, BYD +4%, CYTK +4%, CUBE +3.6%, RUTH +3.1%, ZG +2.9%, ACIA +2.6%, PCG +2.4%, HTGC +2.4%, NIO +2.2%, BLUE +2.2%, WIFI +1.9%, BIDU +1.9%, KEYS +1.8%, ATUS +1.8%, HPE +1.7%, CZR +1.6%, HK +1.1%

    Gapping down:

    • STMP -46.8%, KHC -20%, NHTC -17.1%, CASA -16.4%, BJRI -11.5%, MDRX -11.3%, AAOI -9.6%, UCTT -8%, TGH -8%, EGO -7.4%, APPN -7.1%, FSLR -5.7%, DBX -5.4%, INFN -5.2%, EVRG -4.8%, BEAT -4.6%, CENX -4.2%, GIS -3.7%, CPB -3.5%, RMAX -3.4%, BMRN -3.3%, VERI -2.9%, STAA -2.5%, LNT -2.3%, K -2.2%, MDLZ -2.1%, B -1.9%, PE -1.6%, WAB -1.5%, ANIK -1.2%, F -1%, CSIQ -0.8%, XNCR -0.7%, EXAS -0.7%, AL -0.7%
    07:05  WIRES On The Wires

    • MUFG Bank, Ltd., a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), announced that it has entered into a Consent Order with the U.S. Office of the Comptroller of the Currency relating to deficiencies identified by the OCC in the Bank Secrecy Act/Anti-Money Laundering compliance program of MUFG Bank's U.S. branches in New York, Los Angeles, and Chicago.
    • Mizuho Bank, Ltd. (Mizuho Bank; President and CEO: Koji Fujiwara), a consolidated subsidiary of Mizuho Financial Group (MFG), has concluded a basic agreement with Credit Saison Co.,Ltd. (Credit Saison; President and CEO: Hiroshi Rinno) regarding the termination of the Comprehensive Strategic Business Alliance Agreement.
    • pdvWireless, Inc., (PDVW) announced that the Federal Communications Commission intends to discuss a draft Notice of Proposed Rulemaking for consideration by the Commission during the FCC's Open Meeting taking place on Friday, March 15, 2019 from 10:30 am to 12:30 pm EDT. The NPRM is related to the previously issued Notice of Inquiry addressing use of the Part 90 900 MHz land mobile band.
    • Orange (ORAN) and NTT today signed a strategic Research and Development (R&D) framework agreement up to 2022 to mutualise research findings in several key domains including 5G, network transformation, Artificial Intelligence (AI), Internet of Things (IoT), cybersecurity, cloud services, smart cities, sports, tourism and culture.
    07:05  AN AutoNation misses by $0.06, misses on revs; implements corporate and regional restructuring and cost savings plan expected to reduce costs by $50 mln annually (38.38 )

    • Reports Q4 (Dec) earnings of $1.10 per share, excluding non-recurring items, $0.06 worse than the S&P Capital IQ Consensus of $1.16; revenues fell 4.8% year/year to $5.41 bln vs the $5.63 bln S&P Capital IQ Consensus.
      • AutoNation incurred approximately $0.08 per share, or $9 million, in restructuring-related charges during the fourth quarter of 2018
    • Same-store fourth quarter 2018 revenue totaled $5.3 billion compared to $5.5 billion in the year-ago period, a decrease of 4%. Same-store fourth quarter 2018 gross profit of $832 million decreased by 2% compared to $846 million in the year-ago period. Same-store Customer Financial Services gross profit per vehicle retailed was an all-time record of $1,851.
    • Restructuring and Cost Savings Plan
      • AutoNation previously announced a cost savings plan and a corporate and regional restructuring to improve efficiency and profitability that further positions the Company for long-term success. The Company's plan to reduce costs by approximately $50 million annually includes a reorganization and realignment of its operating structure. A key driver is the consolidation of its regional structure from three regions to two regions. As noted above, AutoNation incurred restructuring-related charges in connection with this plan during the fourth quarter 2018. The Company expects to incur additional restructuring-related charges in the first quarter of 2019 that are currently estimated to be lower than the charges incurred during the fourth quarter of 2018.
    07:04  SRE Sempra Energy increases quarterly dividend to $0.9675/share from $0.895/share (117.67 )

     
    07:03  RUTH Ruth's Hospitality Group beats by $0.01, reports revs in-line; increases dividend (25.00 )

    • Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.49; revenues rose 2.5% year/year to $127.16 mln vs the $126.83 mln S&P Capital IQ Consensus.
    • Comparable restaurant sales at Company-owned restaurants decreased 0.1% compared to the fourth quarter of 2017, which consisted of a traffic decrease of 2.5%, as measured by entrees, and an average check increase of 2.5%. Comparable restaurant sales and traffic were negatively affected by approximately 150 basis points due to the shift of the New Year's Eve holiday into 2019.
    • Co increases quarterly dividend to $0.13/share from $0.11/share
    • Based on current information, Ruth's Hospitality Group, Inc. is providing its full year 2019 outlook based on a 52 week year ending December 29, 2019, as follows:
      • Food and beverage costs of 28.0% to 30.0% of restaurant sales
      • Restaurant operating expenses of 48.0% to 50.0% of restaurant sales
      • Marketing and advertising costs of 3.4% to 3.6% of total revenue
    07:02  W Wayfair beats by $0.18, beats on revs (117.28 )

    • Reports Q4 (Dec) loss of $1.12 per share, excluding non-recurring items, $0.18 better than the S&P Capital IQ Consensus of ($1.30); revenues rose 40.0% year/year to $2.01 bln vs the $1.97 bln S&P Capital IQ Consensus.
    • Direct Retail net revenue, consisting of sales generated primarily through Wayfair's sites, increased $576.6 million to $1,995.8 million, up 40.6% year over year
    • The number of active customers in our Direct Retail business reached 15.2 million as of December 31, 2018, an increase of 37.9% year over year
    • LTM net revenue per active customer was $443 as of December 31, 2018, an increase of 5.0% year over year
    • Co will provide Q1 sales guidance on call
    07:01  AN AutoNation names Carl Liebert as CEO and president, effective March 11, 2019 (38.38 )

    • Mr. Liebert currently serves as Chief Operating Officer and Executive Vice President of USAA.
    • Mike Jackson will assume the role of Executive Chairman of the Board on March 11, 2019.
    07:00  S&P futures vs fair value: +11.40. Nasdaq futures vs fair value: +34.80.

    07:00  European Markets

    FTSE...7203.07...+35.70...+0.50%.  DAX...11488.23...+65.00...+0.60%.
    07:00  Asian Markets

    Nikkei...21425.5...-38.70...-0.20%.  Hang Seng...28816.30...+186.40...+0.70%.
    07:00  SUMRX Asian Markets Close: Nikkei -0.2%, Hang Seng +0.7%, Shanghai +1.9%

    Equity indices in the Asia-Pacific region ended the week on a mostly higher note with markets in China and Hong Kong showing relative strength. China's Vice Premier Liu He is expected to meet with President Trump today at 14:30 ET, marking a conclusion of two-day trade talks. Reserve Bank of Australia Governor Philip Lowe spoke overnight, saying that there is no strong case for changes to the cash rate in the near term, but he acknowledged that the rate outlook is more evenly balanced than six months ago. Meanwhile Deputy Governor Guy Debelle said that it is highly unlikely that the RBA would need to launch quantitative easing. Australia's Trade Minister Simon Birmingham said there is no basis to believe that China banned coal imports from Australia, though processing times may have slowed. The comments follow yesterday's Reuters report, which claimed that imports of Australian coal were banned from going through the port in Dalian.

    • In economic data:
      • China's January House Prices +10.0% year-over-year (last 9.7%)
      • Japan's January National CPI +0.3% month-over-month (last -0.2%); +0.2% year-over-year, as expected (last 0.3%). National Core CPI +0.8% year-over-year, as expected (last 0.7%)
      • South Korea's January PPI -0.2% month-over-month (last -0.6%); +0.2% year-over-year (last 0.9%)
      • Hong Kong's January CPI 2.4% year-over-year (last 2.5%)

    ---Equity Markets---

    • Japan's Nikkei: -0.2% (+2.5% for the week)
    • Hong Kong's Hang Seng: +0.7% (+3.3% for the week)
    • China's Shanghai Composite: +1.9% (+4.5% for the week)
    • India's Sensex: -0.1% (-1.9% for the week)
    • South Korea's Kospi: +0.1% (+1.6% for the week)
    • Australia's ASX All Ordinaries: +0.4% (+1.5% for the week)

    ---FX---

    • USD/JPY: +0.2% to 110.86
    • USD/CNH: -0.1% to 6.7158
    • USD/INR: UNCH at 71.14
    06:57  FXI Shanghai... +1.91%

     
    06:56  TVPT Travelport Worldwide beats by $0.06, beats on revs (15.70 )

    • Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.25; revenues rose 2.6% year/year to $588.6 mln vs the $580.47 mln S&P Capital IQ Consensus.
    • Adjusted EBITDA increased by $2 million, or 1%, to $140 million due to the following: $15 million increase in net revenue.
    • Co in the process of being by acquired by affiliates of Siris Capital Group and Evergreen Coast Capital (see 12/10 6:30).
    06:50  ITT ITT Industries beats by $0.08, misses on revs; guides FY19 EPS in-line, revs below consensus; to acquire Rheinhtte Pumpen Group, increases dividend (56.36 )

    • Reports Q4 (Dec) earnings of $0.82 per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of $0.74; revenues fell 0.8% year/year to $678.4 mln vs the $700.53 mln S&P Capital IQ Consensus.
    • Co issues guidance for FY19, sees EPS of $3.42-3.66, excluding non-recurring items, vs. $3.55 S&P Capital IQ Consensus; sees FY19 revs of $2.8-2.85 bln (+2-4%) vs. $2.89 bln S&P Capital IQ Consensus.
    • The co announced today that it has signed an agreement to acquire Rheinhtte Pumpen Group, a market-leading designer and manufacturer of centrifugal and axial flow pumps, from Aliaxis Group S.A.
      • The proposed transaction is expected to be accretive to ITT earnings in the first full year after closing. The cash consideration of approximately $91.5 million will be funded from the company's cash and revolving credit facility and the final purchase price is subject to customary net working capital adjustments. The proposed transaction is expected to close in the second quarter of 2019 and is subject to customary closing conditions, including appropriate regulatory approvals.
    • Co to increase quarterly dividend to $0.147/share from $0.091/share
    • The company plans to continue to return capital to shareholders through increasing its quarterly dividend, for a seventh straight year, by 10 percent to $0.147 per share. The company is also targeting up to $25 million of incremental new share repurchases which, when combined with the $25 million of share repurchases previously authorized in November 2018, could result in total repurchases of up to $50 million in 2019.
    06:49  COT Cott misses by $0.03, reports revs in-line; guides FY19 revs in-line (15.59 )

    • Reports Q4 (Dec) earnings of $0.01 per share, $0.03 worse than the S&P Capital IQ Consensus of $0.04; revenues rose 4.9% year/year to $599.2 mln vs the $597.75 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of in excess of $2.4 bln vs. $2.47 bln S&P Capital IQ Consensus.
    06:35  MNTA Momenta Pharma beats by $0.46, beats on revs (13.91 )

    • Reports Q4 (Dec) loss of $0.10 per share, $0.46 better than the S&P Capital IQ Consensus of ($0.56); revenues fell 33.7% year/year to $42.8 mln vs the $17.11 mln S&P Capital IQ Consensus.
    • Non-GAAP operating expense is total operating, less stock-based compensation expense, restructuring expense and collaborative reimbursement revenue. Momenta is providing quarterly non-GAAP operating expense guidance of $45 - $55 million for 2019.
    06:35  CNK Cinemark misses by $0.26, beats on revs; increases dividend (36.90 )

    • Reports Q4 (Dec) earnings of $0.17 per share, $0.26 worse than the S&P Capital IQ Consensus of $0.43; revenues rose 6.5% year/year to $798.48 mln vs the $767.97 mln S&P Capital IQ Consensus.
      • Net income attributable to Cinemark Holdings, Inc. for the three months ended December 31, 2018 included a $17 million non-cash tax expense associated with recently issued tax guidance that modified the treatment of foreign tax credit utilization and resulted in an increased valuation allowance for the Company.
    • For the three months ended December 31, 2018, attendance increased 2.1% to 67.4 million patrons, average ticket price was $6.60 and concession revenues per patron increased 4.0% to $4.12.
    • As of December 31, 2018, the Company's aggregate screen count was 6,048 and the Company had commitments to open fourteen new theatres and 129 screens during 2019 and seven new theatres and 83 screens subsequent to 2019.
    • Increases dividend $0.08 to $1.36 per annum resulting in an annual yield of 3.7%
    06:33  B Barnes Group beats by $0.02, misses on revs; guides FY19 EPS below consensus, revs below consensus (61.16 )

    • Reports Q4 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.82; revenues rose 3.0% year/year to $384.1 mln vs the $391.37 mln S&P Capital IQ Consensus.
    • Foreign exchange is anticipated to negatively impact revenues by approximately 1% for the year, while acquisition revenues are forecast to provide 4%. Adjusted operating margin is forecasted to be between 16.0% and 16.5%.
    • Co issues downside guidance for FY19, sees EPS of $3.25-3.40, excluding non-recurring items, vs. $3.47 S&P Capital IQ Consensus; sees FY19 revs of +4-6% to approximately $1.55-1.58 bln vs. $1.6 bln S&P Capital IQ Consensus.
    06:33  COG Cabot Oil & Gas misses by $0.03, beats on revs (24.54 )

    • Reports Q4 (Dec) earnings of $0.55 per share, excluding non-recurring items, $0.03 worse than the S&P Capital IQ Consensus of $0.58; revenues rose 78.9% year/year to $716.3 mln vs the $659.51 mln S&P Capital IQ Consensus.
    06:31  ASIX AdvanSix misses by $0.07, beats on revs; Board adds $75 mln to repurchase authorization (33.68 )

    • Reports Q4 (Dec) earnings of $0.68 per share, $0.07 worse than the S&P Capital IQ Consensus of $0.75; revenues rose 4.4% year/year to $386.63 mln vs the $374.07 mln S&P Capital IQ Consensus.
    • EBITDA of $42.8 million, an increase of $4.0 million versus the prior year; 4Q18 results include a $6 million charge to bad debt expense and a $2.9 million benefit from business interruption insurance advances related to the 1Q18 weather event claim
    • Outlook:
      • Expect strong nylon plant utilization rates to continue while navigating through more uncertain near-term auto and building/construction macro environment
      • Ammonium sulfate fertilizer prices expected to increase seasonally; Expecting improved nitrogen fertilizer environment to continue through Spring planting season
      • Expect challenging acetone industry conditions to continue; Filed antidumping duty petitions covering imports of acetone with the International Trade Commission and U.S. Department of Commerce
    • The Board of Directors authorized a share repurchase program of up to an additional $75 million of the Company's common stock. This authorization is in addition to the remaining capacity authorized under the $75 million share repurchase program announced in May 2018.
    06:20  RY Royal Bank of Canada misses by CAD 0.05 (77.30 )

    • Reports Q1 (Jan) earnings of CAD 2.15 per share, CAD $0.05 worse than the S&P Capital IQ Consensus of CAD 2.20.
    • Challenging market conditions impacted several business segments in the first quarter of 2019 contributing to results being flat in Wealth Management and lower results in Capital Markets and Investor & Treasury Services. Our results also reflect an increase due to foreign exchange translation and the write-down of net deferred tax assets in the prior year related to the U.S. Tax Reform.
    06:11  DLR Digital Realty Trust raises quarterly dividend by 7% to $1.08 per share (116.37 )

     
    06:09  WIRES On The Wires

    • Pintec Technology Holdings (PT) announced a partnership with Xiaomai Zhujiao, a leading provider of education management software systems in China, to jointly develop a consumer financing solution for education and training institutions.
    • Alimentation Couche-Tard has entered into a multi-year agreement with Canopy Growth Corp (CGC). Subsequent to this newly formed strategic partnership, and pending the results of a public-consultation process, Couche-Tard is excited to announce it has entered into a trademark license agreement with one of the winners of the Alcohol and Gaming Commission of Ontario's Expression of Interest Application Lottery, who will operate a "Tweed" branded retail store in London, Ontario once the process is complete. The lottery winner will have full ownership and control over the London store.
    • Harmonic (HLIT) announced that LMT, a mobile telecommunications operator in Latvia and the first in the world to introduce Smart TV delivery over a mobile network, has deployed Harmonic's EyeQ content-aware encoding solution for its live OTT service, delivered to TVs via 4G set-top boxes.
    • Ericsson (ERIC) has been selected by Telefnica Movistar Mxico, a subsidiary of Telefnica South America, to deploy the Service Operation Center platform to enhance subscribers' experience through Ericsson Expert Analytics.
    06:09  ERF Enerplus beats by $0.07 (8.52 )

    • Reports Q4 (Dec) earnings of CAD $0.42 per share, CAD $0.07 better than the S&P Capital IQ Consensus of CAD $0.35.
    • Fourth quarter 2018 production was at the high-end of the Company's guidance range and modestly higher than the prior quarter. Total fourth quarter production averaged 97,860 BOE per day, including oil and natural gas liquids production of 54,451 barrels per day (92% oil).
    • Co sees FY19 average annual production of 94,000-1000,000 BoE/d.
    06:07  MGA Magna beats by $0.03, reports revs in-line; reaffirms FY19 guidance, raises dividend (52.60 )

    • Reports Q4 (Dec) earnings of $1.63 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $1.60; revenues rose 4.7% year/year to $10.14 bln vs the $10.15 bln S&P Capital IQ Consensus.
    • Adjusted EBIT of $730 million in the fourth quarter of 2018 decreased by 10% from the fourth quarter of 2017, and adjusted EBIT as a percentage of sales declined to 7.2% compared to 8.4% in the fourth quarter of 2017.
    • Raises quarterly cash dividend by 11% to $0.365 per share
    • Co reaffirms guidance for FY19, sees FY19 revs of $40.2-42.4 bln vs. $41.2 bln S&P Capital IQ Consensus; sees Light Vehicle Production (Units) for North America of 17.0 million, Europe of 22.3 million.
    06:05  OCUL Ocular Therapeutix prices $37.5 mln of 6.00% subordinated convertible notes due 2026 (3.61 )

     
    06:04  PSO Pearson Plc reports FY18 results; provides in line FY19 outlook (11.54 )

    • Co reports FY18 EPS of GBP 0.70 versus GBP 0.66 Capital IQ consensus; revs -9% YoY to GBP 4.129 bln versus GBP 4.237 bln Capital IQ consensus
    • "US Higher Education Courseware digital revenue grew by 2% to become 55% of our revenue in this business, although growth was again more than offset by the anticipated continuation of underlying market pressures on print courseware revenue."
    • FY19 Outlook: In 2019, Pearson expects to report adjusted operating profit of between 590m and 640m and adjusted earnings per share of GBP 0.565-0.62 (Capital IQ consensus GBP 0.58).
    06:01  HMSY HMS Holdings beats by $0.06, reports revs in-line; guides FY19 revs in-line (31.24 )

    • Reports Q4 (Dec) earnings of $0.31 per share, $0.06 better than the S&P Capital IQ Consensus of $0.25; revenues rose 4.9% year/year to $155.8 mln vs the $155.84 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of $640-650 vs. $643.36 mln S&P Capital IQ Consensus.
    06:01  DDAIF Daimler AG: BMW (BMWYY) and DDAIF invest more than EUR 1 billion in joint mobility services provider (27.56 )

    • Co are pooling their mobility services to create a new global player providing sustainable urban mobility for customers. The two companies are investing more than 1 billion in total to develop and more closely intermesh their offerings for car-sharing, ride-hailing, parking, charging and multimodal transport.
    06:01  CGC Canopy Growth: Alimentation Couche-Tard entered into a multi-year agreement with CGC (45.04 )

    • Through this partnership, Alimentation Couche-Tard is aiming to lean on Canopy Growth's cannabis expertise and leverage its experience with other age-restricted products to focus on the safe, responsible and lawful sale of cannabis, consistent with the?legislation enacted by the federal and provincial governments.
    • As two Canadian-made and globally-positioned companies, the London location will serve as an important entry to market that could lead to future international opportunities.
    06:00  SUMRX Overnight Summary -- World markets looking to close the week on a strong note

    • The global equity markets are mostly higher this morning. S&P Futures are just off of the overnight highs, trading around the 2783 level. Spoos recently pressed the high of 2784.25, after setting a low of 2770.50 earlier in the evening. 
    • Asian markets opened finished the day on a mixed note. The Shanghai outperformed all the majors last night with a gain of nearly 2%. China's benchmark opened modestly higher and was range bound for the first part of the day. Buyers stepped up in a massive way following the lunch break after reports surfaced from multiple news outlets that Chinese authorities are seriously mulling extensive stimulus measures to support the economy. Japan ended a 4-day winning streak, giving back yesterday's games. There was notable weakness in Financials today with names like Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group falling ~1% each. 
    • European bourses are modestly higher this morning. The overall tone seems to be set by strength in the US Futures. The markets are shrugging off weaker than expected German IFO data, that saw all 3 components missing estimates. There is strength in the semiconductor space after chip producer ASM International (+7%) reported better than expected results. 

    Market Updates

    • S&P Futures vs Fair Value: +8.0
    • 10 yr Note: 2.68%
    • USD/JPY: 110.70  -0.14
    • EUR/USD: 1.1337  +0.0001
    • Europe: FTSE  +0.4%  DAX  +0.4%  CAC +0.4%
    • Asia: Hang Seng  +1.9%  Shanghai  +0.7% Nikkei -0.2%
    • Gold (1325.20 -2.60) Silver (15.81 +0.01) Crude (57.06 +0.10)
    19:39  MTN Vail Resorts to acquire Falls Creek and Hotham ski resorts in Victoria, Australia from Merlin Entertainment (MERLY) subsidiary (207.56 -3.73)

    • The Company will purchase Australian Alpine Enterprises Holdings Pty. Ltd and all related corporate entities that operate Falls Creek and Hotham resorts from Living and Leisure Australia Group (LLA), a subsidiary of Merlin Entertainments, for a purchase price of approximately AU$174 million, subject to certain adjustments at closing, including an increase (or reduction) in the price for operating losses (or gains) incurred for the period from Dec. 29, 2018 through closing.
    • The Company indicated that it expects Falls Creek and Hotham to generate incremental Resort Reported EBITDA of approximately AU$18 million (approximately US$13 million) during its first twelve months of operation following the acquisition, which assumes normal conditions. After closing of the transaction, annual ongoing capital expenditures are expected to increase by approximately AU$4-5 million (approximately US$3-4 million) to support the addition of these two resorts.
    • The acquisition, which is subject to certain regulatory approvals, is expected to close prior to the commencement of the Australian snow season in June 2019.
    19:13  NHTC Natural Health Trends lower following earnings and voluntary suspension of member activities (14.11 -1.01)

    • Reported Q4 EPS of $0.49 vs $0.71 ex items year ago; revs -9.8% y/y to $41.6 mln (in-line with pre-announcement). The number of Active Members increased 1% q/q and +2% y/y to 97,840 at December 31, 2018. Declared special dividend of $0.08 per share for the fourth quarter.
    • "While we experienced attractive growth in many global markets and are encouraged by the continuing positive sentiment from our leaders, given the global macroeconomic backdrop and the increased regulatory and media scrutiny in China, we are cautious regarding our performance in 2019 due to the potential impact on our operations from the global trade environment, exchange rate fluctuations, adverse local publicity and the Chinese government's 100-day campaign. As a result of this campaign and consistent with our past strategies and those of peers, we voluntarily decided in January to temporarily suspend our member activities while proactively cooperating with all relevant government agencies to ensure we continue to conduct our business in compliance with all applicable laws in China. While I am confident this is the best approach to position our Company to successfully operate in the long-term, this suspension of member activities may have a material adverse effect on our business in the near-term."
    18:44  CYTK Cytokinetics +4% after topping Q4 estimates and issuing upside guidance (7.21 -0.13)

    • Reported Q4 EPS of ($0.48) vs ($0.52) Capital IQ Consensus; revs $9.4 mln vs $3.9 mln Capital IQ Consensus. 
    • Anticipates 2019 cash revenue of $28-32 mln vs $26.3 mln consensus, op expenses of $110-115 mln, and net cash utilization of ~$85-90 mln.
    18:13  KHC Kraft Heinz will also cut its quarterly dividend to $0.40/share from $0.625/share (48.18 -0.08)

    The reduction was announced in the company's Q4 and Full Year 2018 Update slide presentation.
    18:12  GABC German American Bancorp to acquire Citizens First Corporation (CZFC); will be accretive to EPS during the twelve months - expected to be completed in Q3 (31.60 +0.01)

    • Under terms of the definitive agreement, Citizens First common shareholders (excluding 401k shareholders) will receive a fixed exchange ratio of 0.6629 shares of German American common stock for each share of Citizens First in a tax free exchange, and a cash payment of $5.80 per Citizens First share. Shareholders who hold Citizens First common shares in the Citizens First Bank 401(k) Profit Sharing Plan will receive a cash payment equal to $5.80 plus the exchange ratio multiplied by the 20-day volume weighted average price of German American's common shares on the second day prior to closing.
    • Based upon the $31.59 per share closing price of German American's common shares ending on February 20, 2019. Based upon the $31.59 per share price of German American's common shares ending on February 20, 2019, the transaction has an aggregate indicated value of approximately $68.2 million, with the total merger consideration being split between stock and cash on an approximate 77:23 basis.
    18:07  LNT Alliant Energy beats by $0.01, beats on revs; reaffirms FY19 EPS guidance (45.63 +0.46)

    • Reports Q4 (Dec) earnings of $0.36 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.35; revenues rose 2.0% year/year to $873.5 mln vs the $835.71 mln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19 EPS of $2.17-2.31 vs. $2.26 S&P Capital IQ Consensus. Assumptions for 2019 earnings guidance: Ability of IPL and WPL to earn their authorized rates of return; Anticipated interim retail electric base rate increase to be implemented by IPL.
    17:59  PBA Pembina Pipeline beats by CC$0.06, misses on revs (36.45 -0.24)

    • Reports Q4 (Dec) earnings of CC$0.66 per share, CC$0.06 better than the S&P Capital IQ Consensus of CC$0.60; revenues rose 0.6% year/year to CC$1.73 bln vs the CC$1.93 bln S&P Capital IQ Consensus; Adjusted EBITDA of CAD$715 million. Total volumes of 3,453 mboe/d for the fourth quarter and 3,398 mboe/d for the full year in 2018, which represent six percent and 11 percent increases, respectively, over the prior year.
    • With new projects placed into service in 2018, co announced an Adjusted EBITDA guidance range of CC$2.8-3.0 billion and a CC$1.6 billion capital program for 2019. Co is entering the new year with positive momentum and already in 2019 Pembina has secured the CC$500 million Phase VIII Peace Pipeline expansion and through our joint venture, Canada Kuwait Petrochemical, approved development of a C$4.5 billion (C$2.5 billion net to Pembina) integrated PDH/PP Facility.
    17:43  EGO Eldorado Gold reports Q4 results and repeats 2019 guidance (4.30 -0.05)

    • Reports Q4 adj EPS of ($0.05) vs ($0.07) S&P Capital IQ Consensus; revs -8.5% y/y to $92.8 mln vs $100.7 mln S&P Capital IQ two analyst estimate
    • Reits 2019 guidance of 390,000 -- 420,000 ounces of gold (per January 30, 2019 press release). Co says it is well positioned to grow annual gold production to over 500,000 ounces in 2020.
    17:38  STAA STAAR Surgical reports in-line quarter and reaffirms guidance (36.89 +0.20)

    • Reported Q4 EPS of $0.02 vs $0.02 S&P Capital IQ Consensus; revs +25.6% y/y to $31.2 mln vs $31.2 mln S&P Capital IQ Consensus.
    • Reaffirmed 2019 Outlook: ICL unit growth percentage target increase of 30% over FY18; Company Overall revenue growth percentage target increase of 20% over FY18; GAAP net income anticipated to increase over FY18; Company anticipates achieving positive full year cash flow and cash balance increase.
    17:38  ESS Essex Property increases quarterly cash dividend to $1.95/share from $1.86/share (280.01 +3.22)

     
    17:35  LEE Lee Enterprises' subsidiary TownNews acquires digital content management system business from GTxcel; terms not disclosed (2.68 +0.08)

    TownNews, has reached an agreement to purchase the content management system (CMS) business from GTxcel, a Boston-based digital company that provides content management services to more than 200 broadcasters and magazine publishers. The acquisition was funded with cash on the balance sheet. Lee owns 82.5% of TownNews.
    17:23  PAGS PagSeguro Digital beats by BRL 0.04, beats on revs (22.85 -0.72)

    • Reports Q4 (Dec) earnings of BRL 1.02 per share, excluding non-recurring items, BRL 0.04 better than the S&P Capital IQ Consensus of BRL 0.98; revenues rose 52.5% year/year to BRL 1.27 bln vs the BRL 1.23 bln S&P Capital IQ Consensus. R$24.6 billion in total payment volume (TPV), up 80.7%; 308 thousand net new active merchants; Average spending per active merchant of R$6.2 thousand, +19.0%
    17:22  LPLA LPL Financial reported Jan total brokerage and advisory assets served +5.2% to approximately $661 bln (76.69 -0.85)

    Total net new assets (NNA) for January were an inflow of $0.7 billion. This included $0.2 billion of outflows related to a large hybrid firm that is setting up its own broker/dealer and departing as discussed during the Company's Q4 2018 earnings call. Prior to these outflows, total net new assets for January were an inflow of $0.9 billion.
    17:17  PLD Prologis Board approves increase in quarterly common stock dividend to $0.53/share from $0.48/share (71.03 +0.71)

     
    17:17  WPM Wheaton Precious Metals reports 2018 estimated production exceeded guidance (21.75 -0.26)

    • In 2018, production exceeded guidance primarily as a result of stronger than expected production from the Salobo and Stillwater mines partially offset by weaker than expected production from Peasquito.
    • Wheaton's estimated attributable precious metals production in 2019 is forecast to be approximately 365,000 ounces of gold, 24.5 million ounces of silver and 22,000 ounces of palladium, resulting in gold equivalent production2 of approximately 690,000 ounces. For the five year period ending in 2023, the Company estimates that average, annual gold equivalent production will amount to 750,000 ounces. Average production over the next five years is expected to increase primarily due to continued production growth from Peasquito, Constancia and Stillwater as well as the commencement of the Voisey's Bay stream in 2021.
    • Tax Dispute Settlement impact on Fourth Quarter: The total impact of the settlement on Wheaton's fourth quarter 2018 after-tax earnings, including current and deferred taxes, ancillary interest and associated legal expenses is estimated to be $30 million, of which approximately $15 million would relate to a deferred tax expense.
    17:09  NAVI Navient receives proposal of minority slate of nominees from Canyon Partners (12.32 -0.34)

    • Canyon Capital today sent a letter to the Board of Directors of Navient proposing a minority slate of four nominees for election to the Board as independent directors at Navient's 2019 annual meeting of stockholders. The four candidates are Alan Robert Ginsberg, Gregory A. Pratt, Ivona Smith, and Robert Webster.
    • Canyon Capital comments: "Having constructed our own set of projections, we believe there is real risk that without significant change in direction, within four or five years the Company will only break even or actually suffer a loss. [...] Canyon continues to have confidence in the Company's core legacy asset business, which generates strong, steady cash flows that can provide abundant debt coverage and positive shareholder returns. The Company appears to have lost sight of this, and its current value has been depressed by the ill-conceived strategy of growth for growth's sake. The Company must refocus that strategy."
    • "Many of the incumbent directors have been on the board since its spin-off from Sallie Mae and have supported the failed growth strategy. It is time for a fresh set of eyes. An appropriately reinvigorated Board must guide the needed refocus, and we believe our proposed minority slate of candidates will help to provide that guidance."
    17:06  KHC Kraft Heinz misses by $0.10, reports revs in-line; discloses receipt of SEC subpoena (48.18 -0.08)

    • Reports Q4 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.10 worse than the S&P Capital IQ Consensus of $0.94; revenues rose 0.7% year/year to $6.89 bln vs the $6.93 bln S&P Capital IQ Consensus.
      • Organic Net Sales increased 2.4 percent versus the year-ago period. Pricing was down 1.6 percentage points, as increased promotional activity and pricing to reflect lower key commodity(2) costs in North America, particularly the United States, more than offset higher pricing in EMEA and Rest of World markets. Volume/mix increased 4.0 percentage points, driven by a combination of strong consumption gains in North America and condiments and sauces growth across Latin America, North America, and EMEA.
    • During the fourth quarter, as part of the Company's normal quarterly reporting procedures and planning processes, the Company concluded that, based on several factors that developed during the fourth quarter, the fair values of certain goodwill and intangible assets were below their carrying amounts. As a result, the Company recorded non-cash impairment charges of $15.4 billion to lower the carrying amount of goodwill in certain reporting units, primarily U.S. Refrigerated and Canada Retail, and certain intangible assets, primarily the Kraft and Oscar Mayer trademarks. These charges resulted in a net loss attributable to common shareholders of $12.6 billion and diluted loss per share of $10.34.
    • Adjusted EBITDA decreased 13.9 percent versus the year-ago period to $1.7 billion (vs. $1.91 bln analyst estimate), including a negative 2.4 percentage point impact from currency.
    • The Company received a subpoena in October 2018 from the U.S. Securities and Exchange Commission associated with an investigation into the Company's procurement area, more specifically the Company's accounting policies, procedures, and internal controls related to its procurement function, including, but not limited to, agreements, side agreements, and changes or modifications to its agreements with its vendors.
      • Following this initial SEC document request, the Company together with external counsel launched an investigation into the procurement area. In the fourth quarter of 2018, as a result of findings from the investigation, the Company recorded a $25 million increase to costs of products sold as an out of period correction as the Company determined the amounts were immaterial to the fourth quarter of 2018 and its previously reported 2018 and 2017 interim and year to date periods. Additionally, the Company is in the process of implementing certain improvements to its internal controls to mitigate the likelihood of this occurring in the future and has taken other remedial measures. The Company continues to cooperate fully with the U.S. Securities and Exchange Commission.
      • At this time, the Company does not expect the matters subject to the investigation to be material to its current period or any prior period financial statements.
    17:02  EVRG Evergy misses by $0.17 (59.87 +0.48)

    • Reports Q4 (Dec) pro forma earnings of $0.08 per share, $0.17 worse than the S&P Capital IQ Consensus of $0.25.
    • The earnings increase in 2018 compared to 2017 was primarily due to the inclusion of KCP&L and GMO earnings, higher Westar retail sales, driven by favorable weather, and lower income tax expense, partially offset by merger related costs and customer bill credits following the close of the merger.
    17:02  AMH American Homes 4 Rent reports FFO in-line, revs in-line; guides FY19 FFO below consensus (22.80 +0.11)

    • Reports Q4 (Dec) funds from operations of $0.28 per share, in-line with the S&P Capital IQ Consensus of $0.28; revenues rose 11.1% year/year to $270 mln vs the $269.98 mln S&P Capital IQ Consensus. Core Net Operating Income margin on Same-Home properties was 65.6% for the fourth quarter of 2018, compared to 65.5% for the same period in 2017.
    • Co issues downside guidance for FY19, sees FFO of $1.06-1.14 vs. $1.17 S&P Capital IQ Consensus. 
    16:56  ED Con Edison beats by $0.02, beats on revs; guides FY19 EPS above consensus (80.00 +0.99)

    • Reports Q4 (Dec) earnings of $0.77 per share, $0.02 better than the S&P Capital IQ Consensus of $0.75; revenues fell 0.4% year/year to $2.95 bln vs the $2.89 bln S&P Capital IQ Consensus.
    • Co issues upside guidance for FY19, sees EPS of $4.25 to $4.45 vs. $4.28 S&P Capital IQ Consensus.
      • Capital investments expected around $3.63 bln while maintenance expense expected around $3.22 bln
    • Co plans to meet its 2019 capital requirements through internally-generated funds and issuance of long-term debt and common equity.
      • Long-term debt issuance expected between $1.60 bln and $2.20 bln
      • Equity issuance expected around $500 mln
    16:47  WIFI Boingo Wireless appoints Mike Finley as CEO, effective March 18; company reaffirms FY18 financial guidance (24.82 -1.23)

    • The company's Board of Directors has unanimously elected Mike Finley as its CEO. Mr. Finley will continue as a member of the Board, where he has served since August 2013. Prior to his appointment as Boingo's CEO, Finley spent nearly nine years at Qualcomm (QCOM), most recently as President of North America and Australia.
    • Mr. Finley succeeds Boingo's current CEO and Chairman Dave Hagan, who has announced his desire to retire after 17 years of service to the company. Mr. Hagan will continue to serve as a member of the Board, while Lance Rosenzweig, Boingo's lead independent director, will become Chairman of the Board.
    16:43  F Ford Motor investigating process for U.S. emissions certification concerning road load (8.71 -0.23)

    • "The investigation and potential concerns do not involve the use of defeat devices in our products. At this time, there's been no determination that this affects Ford's fuel economy labels or emissions certifications. We plan to work with regulators and the independent lab to complete a technical review. As part of our review, we have identified potential concerns with how we calculate road load. The first vehicle we are evaluating is the 2019 Ranger; we are assessing additional vehicles as well."
    16:41  CNS Cohen & Steers increases quarterly cash dividend to $0.36/share from $0.33/share (40.03 -0.12)

     
    16:41  CUBE CubeSmart reports FFO in-line, misses on revs; guides Q1 FFO in-line; guides FY19 FFO in-line (29.60 -0.88)

    • Reports Q4 (Dec) funds from operations of $0.42 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.42; revenues rose 3.2% year/year to $134.74 mln vs the $154.27 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for Q1, sees FFO of $0.39-0.40, excluding non-recurring items, vs. $0.40 S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FFO of $1.64-1.69, excluding non-recurring items, vs. $1.67 S&P Capital IQ Consensus.
    • Other 2019 guidance:
      • Same-store revenue growth of 1.50% to 2.50%.
      • Same-store expense growth of 3.0% to 4.0%.
      • Same-store NOI growth between 1.00% to 2.25%.
    16:40  ZG Zillow reports Q4 (Dec) results, beats on revs; guides Q1 revs above consensus; provides long-term targets; co founder Rich Barton takes over CEO as Spencer Rascoff steps down (35.06 +0.16)

    • Reports Q4 (Dec) GAAP loss of ~$0.46 per share, may not be comparable to the S&P Capital IQ Consensus of ($0.17); revenues rose 29.4% year/year to $365 mln vs the $351.19 mln S&P Capital IQ Consensus. EBITDA $32.4 mln vs. $26-38 mln guidance; IMT segment EBITDA $52 mln vs. $44-51M guidance; Homes ($20M) vs. ($18-13M) guidance 
    • Co issues upside guidance for Q1, sees Q1 revs of $417-443 mln vs. $405.02 mln S&P Capital IQ Consensus; EBITDA ($14-1) mln; losses in Home wiping out IMT segment
    • Long-Term Targets+ If Zillow Group is successful in executing its growth strategy, in three to five years, Zillow Group management believes the company could achieve the following: Homes Segment Purchasing 5,000 homes per month at annualized segment revenue of approximately $20.0 billion. Mortgages Segment Achieve 33% attach rate to the Homes segment. Originating more than 3,000 loans per month. Internet, Media & Technology Segment Achieve more than $2.0 billion in annual segment revenue, almost doubling its current size. Generate approximately $600 million in annual Adjusted EBITDA1, or 30% of segment revenue.
    • CEO Spencer Rascoff steps down, co-founder Rich Barton take over
    16:39  BIDU Baidu.com beats by $0.11, beats on revs; guides Q1 revs in-line (181.83 +0.63)

    • Reports Q4 (Dec) earnings of $1.92 per share, excluding non-recurring items, $0.11 better than the S&P Capital IQ Consensus of $1.81; revenues rose 9.4% year/year to $3.96 bln vs the $3.87 bln S&P Capital IQ Consensus.
      • Total revenues of Baidu Core were RMB 20.5 billion ($2.98 billion), increasing 14% year over year, or 20% year over year excluding the impact of announced divestures.
      • Content costs were RMB 7.3 billion ($1.07 billion), increasing 96% year over year, mainly due to increased investments in iQIYI content and, to a lesser extent, in content for BJH accounts, Baidu feeds' content network.
      • Adjusted EBITDA was RMB 4.0 billion ($577 million) and adjusted EBITDA margin was 15%. Adjusted EBITDA to Baidu Core was RMB 6.9 billion ($1.00 billion) and adjusted EBITDA margin to Baidu Core was 34%.
    • Co issues in-line guidance for Q1, sees Q1 revs of $3.42-3.60 bln vs. $3.56 bln S&P Capital IQ Consensus.
    16:38  CHSP Chesapeake Lodging Trust beats by $0.03, beats on revs; guides Q1 FFO below consensus; guides FY19 FFO in-line (29.43 +0.05)

    • Reports Q4 (Dec) funds from operations of $0.54 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.51; revenues fell 0.1% year/year to $142.5 mln vs the $140.58 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for Q1, sees FFO of $0.41-0.44, excluding non-recurring items, vs. $0.47 S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FFO of $2.35-2.45, excluding non-recurring items, vs. $2.44 S&P Capital IQ Consensus.
    16:37  MGM MGM Resorts names Chief Operating Officer Corey Sanders CFO (28.35 -0.46)

    • Current Chief Operating Officer Corey Sanders will be appointed Chief Financial Officer and will lead the strategic financial transformation that is part of MGM 2020 and will integrate that work with the departments he currently leads including information technology, enterprise analytics, sales and consumer marketing. Prior to his role as COO of MGM Resorts, Mr. Sanders served as Executive Vice President (EVP) and CFO of MGM Grand Resorts and EVP and CFO of MGM Grand Las Vegas. Prior to those responsibilities, he held roles in corporate finance and tax for MGM Grand, Inc.
    • Current Chief Financial Officer Dan D'Arrigo has chosen to take advantage of the voluntary resignation program offered as part of MGM 2020 and will be resigning from the Company and the Board of Directors of MGM China. Mr. D'Arrigo will remain with the Company over the next month in an advisory role to ensure a smooth transition.
    • Bill Hornbuckle will expand his role and be appointed Chief Operating Officer of MGM Resorts, in addition to his current role as President.
    16:36  STMP Stamps.com beats by $0.83, beats on revs; guides FY19 EPS below consensus, revs below consensus (198.08 -4.05)

    • Reports Q4 (Dec) earnings of $3.73 per share, excluding non-recurring items, $0.83 better than the S&P Capital IQ Consensus of $2.90; revenues rose 28.5% year/year to $170.23 mln vs the $160.0 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees EPS of $5.15-6.15, excluding non-recurring items, vs. $10.79 S&P Capital IQ Consensus; sees FY19 revs of $540-570 mln vs. $689.1 mln S&P Capital IQ Consensus.
    16:35  ECOL US Ecology beats by $0.05, beats on revs; guides FY19 EPS below consensus (65.55 -0.44)

    • Reports Q4 (Dec) earnings of $0.65 per share, $0.05 better than the S&P Capital IQ Consensus of $0.60; revenues rose 17.8% year/year to $157.54 mln vs the $148.92 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees EPS of $2.09 to $2.41 vs. $2.58 S&P Capital IQ Consensus.
      • Adjusted EBITDA expected between $135 mln and $145 mln
      • Capital expenditures expected between $55 mln and $60 mln
      • Free cash flow expected between $45 mln and $50 mln
    16:35  FLXN Flexion Therapeutics announces in vitro data showing triamcinolone acetonide having protective effects on inflamed and/or injured cartilage (14.21 -0.23)

    • The administration of TA in inflamed and/or injured cartilage tissue had protective effects, such as restoration of cartilage matrix biosynthesis and prevention of cartilage matrix breakdown, and no detrimental effects were observed at any dose in inflamed or injured cartilage.
    • This information was presented in "late breaker" session at the recent 2019 Orthopaedic Research Society Annual Meeting.
    16:35  CPB Campbell Soup to sell its Everett, Washington, refrigerated soup plant to an affiliate of the Joshua Green Corporation; terms not disclosed (35.44 +0.26)

     
    16:34  HK Halcon Resources announces resignations of Chairman and CEO Floyd Wilson and of CFO Mark Mize (1.79 -0.07)

    • Mr. Wilson, who has led Halcn for the past seven years, has resigned from his role as the company's Chairman, CEO, and President to pursue other interests. James Christmas, who has served as a Director of Halcn since February 2012 and also serves as Lead Independent Director and Chairman of the Audit Committee, has been appointed Non-Executive Chairman of the Board.
    • In addition, Mr. Mize, EVP, CFO, and Treasurer, and Steve Herod, EVP, Corporate Development have resigned and will depart Halcn in the coming weeks to pursue other opportunities.
    • The Board will commence a search process for a permanent CEO. In the interim, the company will be managed by a Management Committee led by David Elkouri, EVP and Chief Legal Officer, which will report to Mr. Christmas. Quentin Hicks will assume the role of EVP, CFO, and Treasurer upon Mr. Mize's departure.
    16:33  SEM Select Medical misses by $0.01, reports revs in-line; reaffirms FY19 guidance (15.48 -0.13)

    • Reports Q4 (Dec) earnings of $0.20 per share, excluding items, $0.01 worse than the S&P Capital IQ Consensus of $0.21; revenues rose 15.6% year/year to $1.26 bln vs the $1.27 bln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19 EPS of $0.97-1.13, excluding items, vs. $1.10 S&P Capital IQ Consensus; revs of $5.2-5.4 bln vs. $5.31 bln S&P Capital IQ Consensus; Adj EBITDA of $660-700 million.
    16:32  FIX Comfort Systems to acquire Walker TX Holding Company, Inc. and its related subsidiaries (51.95 +0.31)

    • Walker is expected to contribute annualized revenue of approximately $325 million to $375 million, and earnings before interest, taxes, depreciation and amortization of $20 million to $25 million.
    • In light of the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a neutral to slightly accretive contribution to earnings per share during the first 18 to 24 months after the acquisition. The transaction is expected to close early in the second quarter of 2019 and is subject to customary closing conditions.
    16:32  IQ iQIYI misses by $0.04, beats on revs; guides Q1 revs in-line (22.76 +0.16)

    • Reports Q4 (Dec) loss of RMB 4.83 per share, RMB 0.04 worse than the S&P Capital IQ Consensus of (RMB 4.79); revenues rose 45.3% year/year to RMB 7 bln vs the RMB 6.66 bln S&P Capital IQ Consensus.
    • The number of total subscribing members was 87.4 million as of December 31, 2018, 98.5% of whom were paying subscribing members. This compares to 50.8 million of total subscribing members as of December 31, 2017, up 72% year over year.
    • Membership services revenue was RMB3.2 billion (US$465.6 million), representing a 76% increase from the same period in 2017. The increase resulted from the strong growth in the number of subscribing members, driven by our premium content as well as various operational initiatives during the quarter.
    • Online advertising services revenue was RMB2.2 billion (US$320.5 million), representing a 9% increase from the same period in 2017. The increase was primarily attributable to the growth of brand advertising business, driven by our innovative advertising solutions associated with expanding library of self-produced content.
    • Co issues in-line guidance for Q1, sees Q1 revs of RMB6.8-7.1 bln vs. RMB 6.84 bln two analyst estimate.
    16:32  INTU Intuit announces as of February 8, total DIY category e-files received by the Internal Revenue Service were down 3.2% (235.03 -0.94)

    • As of Feb. 8 total DIY category e-files received by the Internal Revenue Service were down 3.2 percent. On a comparable basis, TurboTax e-files were down 3.5 percent.
    • Broader IRS data through Feb. 8 shows total e-filed returns down 7.1 percent and assisted e-files declined 12.5 percent year-over-year. New tax legislation and the extended partial government closure may have impacted consumer behavior resulting in a slower forming season.
    • See 16:06 for earnings.
    16:31  SWM Schweitzer-Mauduit beats by $0.19, beats on revs; guides FY19 EPS in-line (34.67 -0.17)

    • Reports Q4 (Dec) earnings of $0.90 per share, excluding non-recurring items, $0.19 better than the two analyst estimate of $0.71; revenues rose 5.5% year/year to $248.7 mln vs the $241.15 mln two analyst estimate.
    • Co issues in-line guidance for FY19, sees EPS of $3.40-3.60 vs. $3.49 two analyst estimate.
      • The Company expects 2019 capital expenditures and capitalized software spending of ~$35-40 million.
    16:30  CXW CoreCivic increases quarterly cash dividend to $0.44/share from $0.43/share (21.64 +0.30)

     
    16:29  WRB W.R. Berkley approved 3-for-2 common stock split to be paid in the form of a stock dividend to holders of record on March 14, 2019 (also declared unchanged regular cash dividend) (82.41 -0.18)

     
    16:29  INT World Fuel Services beats by $0.05, misses on revs (26.23 +0.07)

    • Reports Q4 (Dec) earnings of $0.50 per share, $0.05 better than the S&P Capital IQ Consensus of $0.45; revenues rose 12.6% year/year to $9.99 bln vs the $10.4 bln S&P Capital IQ Consensus.
    16:28  PRA ProAssurance reports EPS in-line, misses on revs (44.85 -0.51)

    • Reports Q4 (Dec) earnings of $0.18 per share, in-line with the S&P Capital IQ Consensus of $0.18; revenues fell 14.6% year/year to $178.5 mln vs the $199.16 mln S&P Capital IQ Consensus.
    • Co  announced that Howard Friedman will retire from his role as President of Healthcare Professional Liability. He will maintain his employment with the Company, overseeing the continued development of the actuarial function, an area that is taking on increased importance given current market conditions.
    • Kevin Shook, the current Executive Vice President of Eastern and formerly its Chief Financial Officer, is being promoted to become Eastern's new President.
    16:27  WRAPX Closing Stock Market Summary

    The S&P 500 lost 0.4% on Thursday, as disappointing economic data helped simmer the market's lengthy rally. The Dow Jones Industrial Average, the Nasdaq Composite, and the Russell 2000 also lost 0.4% apiece.

    The S&P 500 energy (-1.6%), health care (-0.9%), and communication services (-0.6%) sectors underperformed the broader market. Conversely, the utilities (+0.8%) and consumer staples (+0.3%) sectors showed relative strength.

    The stock market began the day slightly lower as weaker-than-expected economic data tempered buying interest. U.S. business investment declined for the second consecutive month in December, and the eurozone manufacturing sector experienced its first contraction since 2013. 

    Investors have generally forgiven negative data this year, but some of the reports released today covered January and February--two months that featured a strong rally in the market amid hopes that the economic picture would improve.

    Separately, the U.S. and China began working on six memorandums of understanding on structural issues that would outline the path to a trade deal, according to Reuters. Specific details on talks have been sparse, though, with China's Ministry of Commerce spokesperson saying that there was nothing new to report.

    The market's negative disposition despite the reported progress possibly suggested the market's patience for hopeful-sounding headlines may be wearing thin, especially when taking into account the number of rallies that took place amid upbeat headlines, but little concrete progress.

    With earnings season winding down, some other corporate-specific news captured the market's attention.

    Nike (NKE 83.95, -0.89, -1.1%) was under pressure following some on-the-court drama. College basketball sensation Zion Williamson sustained an injury when his Nike sneakers broke apart during a highly-anticipated game. Nike issued a statement that they were working to identify the issue. 

    Tesla (TSLA 291.23, -11.33) for its part lost 3.7% after Consumer Reports dropped its Model 3 recommendation due to the car's reliability issues. On a related note, Tesla has been under scrutiny for its untimely handling of returns and refunds. 

    U.S. Treasuries finished on a lower note, pushing yields higher across the curve. The 2-yr yield and the 10-yr yield increased three basis points each to 2.53% and 2.69%, respectively. The U.S. Dollar Index increased 0.2% to 96.62. WTI crude declined 0.3% to $57.00/bbl.

    Reviewing Thursday's economic data, which included Existing Homes Sales for January, Durable Orders for December, the Philadelphia Fed Index for February, the Conference Board's Leading Economic Indicators Index for January, and the weekly Initial and Continuing Claims report.

    • Existing home sales decreased 1.2% month-over-month in January to a seasonally-adjusted annual rate of 4.99 million (Briefing.com consensus 5.05 million) from an upwardly revised 5.00 million (from 4.99 million) in December. Total sales were 8.5% lower than the same period a year ago.
      • The key takeaway from the report is that existing home sales activity has not improved much since December even when taking into account the upward revision to the December reading.
    • Durable goods orders increased 1.2% in December (Briefing.com consensus 1.3%) after an upwardly revised 1.0% increase (from 0.8%) in November. Excluding transportation, orders increased 0.1% (Briefing.com consensus 0.2%) after decreasing a revised 0.2% (from -0.4%) in November.
      • The key takeaway from the report is that business investment remained weak, evidenced by the 0.7% decline in nondefense capital goods orders excluding aircraft. Furthermore, the November reading was revised down to -1.0% from -0.6%.
    • The Philadelphia Fed Index for February fell to -4.1 (Briefing.com consensus 12.0) from 17.0 in January.
      • The key takeaway from the report is that the headline decrease was driven by declines in most components with the Prices Paid Index returning to its low from 2017.
    • The Conference Board's Leading Economic Indicators Index decreased 0.1% in December (Briefing.com consensus -0.1%) after increasing 0.2% in November.
      • The key takeaway from the report is that the Conference Board sees a path to GDP growth slowing to 2.0% by the end of 2019.
    • Initial claims for the week ending February 16 decreased by 23,000 to 216,000 (Briefing.com consensus 225,000). Continuing claims for the week ending February 9 decreased by 55,000 to 1.780 million.
      • The key takeaway from the report is that the decline returned the initial claims level into a sideways range that has been in place over the past year; however, the four-week moving average for initial claims remains at its highest level since January 2018.

    Investors will not receive any economic data on Friday.

    • Russell 2000 +16.8% YTD
    • Nasdaq Composite +12.4% YTD
    • Dow Jones Industrial Average +10.8% YTD
    • S&P 500 +10.7% YTD
    16:26  ENV Envestnet Tamarac also agrees to acquire PortfolioCenter; terms not disclosed (55.56 -0.89)

    Tamarac has agreed to acquire PortfolioCenter, Schwab Performance Technologies' (SCHW) portfolio management and reporting technology solution for independent registered investment advisers.
    16:24  RMAX RE/MAX Holdings reports EPS in-line, revs in-line (40.36 -0.24)

    • Reports Q4 (Dec) earnings of $0.49 per share, in-line with the S&P Capital IQ Consensus of $0.49; revenues rose 4.8% year/year to $50.84 mln vs the $50.56 mln S&P Capital IQ Consensus.
    • Co provides Q1 and FY19 rev guidance, which includes acquisition of RE/MAX advertising funds. The guidance below does not appear to be comparable to consensus:
      • Co issues guidance for Q1, sees Q1 revs of $70-73 mln vs. $53.30 mln S&P Capital IQ Consensus.
      • Co issues guidance for FY19, sees FY19 revs of $287-291 mln vs. $219.22 mln S&P Capital IQ Consensus.
    16:24  GDP Goodrich Petroleum announces year-end proved reserves as well as results from two recently completed Haynesville wells (13.66 +0.60)

    • The Company announced that proved oil and natural gas reserves as of December 31, 2018 increased by 12% to 480 billion cubic feet equivalent ("Bcfe") versus 428 Bcfe at year-end 2017. The present value, using a 10% discount rate of the future net cash flows (the "PV10"), was $418 million. PV10 was comprised of 94% natural gas and 35% of PV10 was developed. Oil and natural gas prices used to determine proved reserves were $65.56 per barrel of oil and $3.10 per MMBtu of natural gas, pursuant to Securities and Exchange Commission ("SEC") guidelines.
    • Haynesville well results:
      • The Company has completed its Cason-Dickson 14&23 No. 3 (99% WI) and Cason-Dickson 14&23 No. 4 (99% WI) wells off of a common pad in Red River Parish, Louisiana. The wells, which have an average producing lateral length of 9,300 feet, have achieved a combined 24-hour peak rate to date of approximately 62,000 Mcf per day.
      • The Company has drilled and cased its Loftus 27&22 No. 1 (97% WI) well and has reached total depth on its Loftus 27&22 No. 2 (97% WI) well, both of which are in DeSoto Parish, Louisiana. Both wells are approximately 7,500 foot laterals, with frac operations expected to commence in 30-45 days.
    16:24  BLUE Bluebirdbio reports Q4 results (12.24 )

    • Reports Q4 (Dec) loss of $2.72 per share, $0.12 better than the S&P Capital IQ Consensus of ($2.84); revenues rose 357.1% year/year to $19.2 mln vs the $9.06 mln S&P Capital IQ Consensus. 
    • Analyst/Investor Day to be held in the first half of 2019
    • "We have an unprecedented opportunity in front of us where we anticipate that all four lead programs will have an initial filing or launch by 2022, and we are developing a deep pipeline enabled by our core technologies and our partnerships. Our first approval for LentiGlobin in TDT is anticipated this year and will be a country-by-country progressive European launch.
    16:23  CASA Casa Systems beats by $0.06, beats on revs; guides FY19 EPS below consensus, revs below consensus; authorizes $75 mln common stock repurchase (11.96 -0.02)

    • Reports Q4 (Dec) earnings of $0.20 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.14; revenues fell 42.5% year/year to $67.8 mln vs the $66.16 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees EPS of $0.30-0.40 vs. $0.73 S&P Capital IQ Consensus; sees FY19 revs of $250-300 mln vs. $313.08 mln S&P Capital IQ Consensus.
    • Casa Systems announced today that its board of directors has authorized the repurchase of up to $75 million of the Company's common stock under a stock repurchase program.
    16:22  FIX Comfort Systems increases quarterly dividend to $0.095/share from $0.090/share (51.95 +0.31)

     
    16:22  COLD Americold Realty Trust beats by $0.02, reports revs in-line (28.54 -0.05)

    • Reports Q4 (Dec) funds from operations of $0.33 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.31; revenues rose 3.5% year/year to $415.8 mln vs the $416.43 mln S&P Capital IQ Consensus.
    • 2019 Outlook
    • Global warehouse segment same store revenue growth to range between 2 and 4 percent on a constant currency basis and Same Store NOI growth to be 100 to 200 basis points higher than the associated revenue. Anticipated AFFO payout ratio of 65 to 68 percent.
    16:20  CASA Casa Systems to acquire NetComm Wireless for approximately A$161 mln (11.96 -0.02)

    NetComm Wireless Limited (ASX: NTC) is a leading developer of Fixed Wireless broadband, wireless M2M/Industrial IoT and Fibre and Cable to the distribution point (FTTdp / CTTdp) technologies that underpin an increasingly connected world. The Scheme Consideration of A$1.10 per share represents a 52.8% premium to the closing price of A$0.720 per share on 20 February 2019.

    • "We see substantial benefits to Casa Systems from this acquisition...[I]t has the potential to deliver meaningful benefits through the merger of two complementary, culturally aligned organisations, with immediate EPS accretion for Casa Systems shareholders."
    16:20  GMED Globus Medical beats by $0.04, beats on revs; reaffirms FY19 EPS guidance, revs guidance (47.69 +0.09)

    • Reports Q4 (Dec) earnings of $0.43 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.39; revenues rose 11.3% year/year to $195.94 mln vs the $191.94 mln S&P Capital IQ Consensus.
    • Non-GAAP adjusted EBITDA was 34.1% of sales.
    • Co reaffirms guidance for FY19, sees EPS of $1.72, excluding non-recurring items, vs. $1.72 S&P Capital IQ Consensus; sees FY19 revs of $770 million vs. $767.52 mln S&P Capital IQ Consensus.
    16:20  DXCM Dexcom beats on top and bottom lines, reaffirms FY19 revs guidance and announces expansion of support capabilities (146.25 +0.71)

    • Reports Q4 (Dec) earnings of $0.54 per share, $0.38 better than the S&P Capital IQ Consensus of $0.16; revenues rose 52.9% year/year to $338 mln vs the $331.6 mln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19, sees FY19 revs of $1.175 -1.225 bln vs. $1.22 bln S&P Capital IQ Consensus.
    • In conjunction with its earnings release, Dexcom is also announcing the expansion of its customer and technical support capabilities, including growth in its call center in the Philippines and with certain third parties. This initiative is designed to allow Dexcom to better serve its expanding patient base and will result in a reduction in certain areas of the company's domestic workforce, leading to pre-tax charges of approximately $25 million in 2019. Dexcom expects to record the majority of these charges in the first half of 2019 and that the bulk of the activities will be completed by the end of 2019. Reaffirms Gross profit margin of approximately 65%; Non-GAAP operating margin of approximately 5.5%; Non-GAAP adjusted EBITDA margin of approximately 18%.
    16:19  CWST Casella Waste misses by $0.02, beats on revs; guides FY19 revs in-line (33.55 -1.49)

    • Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.11; revenues rose 15.5% year/year to $174.72 mln vs the $172.12 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of $710-725 mln vs. $721.43 mln S&P Capital IQ Consensus.
    16:19  NVRO Nevro misses by $0.05, reports revs in-line; guides FY19 revs below consensus (47.38 -1.05)

    • Reports Q4 (Dec) loss of $0.32 per share, excluding non-recurring items, $0.05 worse than the S&P Capital IQ Consensus of ($0.27); revenues rose 10.1% year/year to $107.9 mln vs the $107.39 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees FY19 revs of $400-410 mln vs. $419.27 mln S&P Capital IQ Consensus. Co anticipates growth in U.S. revenues partially offset by declines in reported international revenue, primarily driven by reimbursement changes in Australia.
    16:19  CENX Century Aluminum beats by $0.10, misses on revs (9.29 +0.11)

    • Reports Q4 (Dec) loss of $0.43 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of ($0.53); revenues fell 1.0% year/year to $481.8 mln vs the $489.02 mln S&P Capital IQ Consensus.
    • "First quarter financial performance will again be burdened by high realized alumina prices as alumina purchased several months ago will be reflected in our financial statements. It is important to note that beginning in the second quarter of 2019, we anticipate EBITDA to be positive at spot prices and our liquidity remains strong."
    • "In addition, we are confident the company's financial position will strengthen as a result of incremental profitability from the additional production volume at Hawesville, combined with a reduction in the capital required for this project."
    • "Conditions in our industry remain sound, the global deficit in primary aluminum in 2018 was over 1.5 million tonnes, consisting of a surplus in China and a deficit of over 2 million tonnes in the remainder of the world."
    16:18  HASI Hannon Armstrong Sust. Infr. appoints Jeffrey A. Lipson as CFO, effective March 1 (23.66 +0.12)

    Brendan Herron, the company's current CFO, will remain as an executive vice president and take on an expanded leadership role focusing on Hannon Armstrong's strategic growth initiatives. Mr. Lipson, who succeeds Mr. Herron, is a 30-year veteran of the finance and banking industry; he joined Hannon Armstrong in January 2019 as the Deputy CFO.
    16:18  FLR Fluor beats by $0.16, misses on revs; guides FY19 EPS mostly below consensus (37.82 +0.12)

    • Reports Q4 (Dec) earnings of $0.77 per share, excluding non-recurring items, $0.16 better than the S&P Capital IQ Consensus of $0.61; revenues fell 4.5% year/year to $4.8 bln vs the $4.86 bln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees EPS of $2.50-3.00, excluding non-recurring items, vs. $2.98 S&P Capital IQ Consensus. Guidance for 2019 assumes increasing contributions and a balanced set of opportunities from our Energy & Chemicals and Mining, Industrial, Infrastructure and Power segments.
    16:18  HTGC Hercules Capital beats by $0.01, beats on revs (13.18 +0.05)

    • Reports Q4 (Dec) earnings of $0.32 per share, $0.01 better than the S&P Capital IQ Consensus of $0.31; revenues rose 13.3% year/year to $56.89 mln vs the $54.87 mln S&P Capital IQ Consensus.
    16:17  BOOM DMC Global beats by $0.10, beats on revs; guides Q1 revs above consensus; guides FY19 EPS above consensus, revs above consensus (35.43 +0.12)

    • Reports Q4 (Dec) earnings of $0.46 per share, $0.10 better than the S&P Capital IQ Consensus of $0.36; revenues rose 65.7% year/year to $90.3 mln vs the $82.39 mln S&P Capital IQ Consensus.
    • Gross margin was 35% versus 34% in the third quarter and 33% in the year-ago fourth quarter. The results were above a forecasted range of 33% to 34% primarily due to a more profitable project mix at NobelClad and improved factory productivity at DynaEnergetics.
    • Co issues upside guidance for Q1, sees Q1 revs of $82-$85 mln vs. $80.47 mln S&P Capital IQ Consensus. Gross margin is expected to be approximately 34% versus 34% in last year's first quarter.
    • Co issues upside guidance for FY19, sees EPS of $2.50-$2.70 vs. $2.40 S&P Capital IQ Consensus; sees FY19 revs of $350-$370 mln vs. $347.17 mln S&P Capital IQ Consensus.
    16:17  MATX Matson beats by $0.01, beats on revs (35.34 -0.42)

    • Reports Q4 (Dec) earnings of $0.48 per share, $0.01 better than the S&P Capital IQ Consensus of $0.47; revenues rose 9.5% year/year to $564.9 mln vs the $558.44 mln S&P Capital IQ Consensus.
    16:16  NCMI National Cinemedia beats by $0.04, misses on revs; guides FY19 revs in-line (7.02 -0.07)

    • Reports Q4 (Dec) earnings of $0.23 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of $0.19; revenues fell 2.3% year/year to $137.4 mln vs the $139.48 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of $450-465 mln vs. $453.29 mln S&P Capital IQ Consensus.
      • Also sees adjusted OIBDA in the range of $207.0 million to $217.0 million for the full year 2019.
      • During 2019, the Company expects to record ~$21.0-23.0 million in integration and other encumbered theater payments from Cinemark and AMC associated with the Rave Theatres and Carmike Theatres acquisitions, which are recorded as a reduction of an intangible asset.
    16:16  ENV Envestnet beats by $0.02, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY19 EPS in-line, revs below consensus (55.56 -0.89)

    • Reports Q4 (Dec) earnings of $0.61 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.59; revenues rose 14.9% year/year to $210.1 mln vs the $210.58 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for Q1, sees EPS of $0.38 vs. $0.39 S&P Capital IQ Consensus; sees Q1 revs of $200-202 mln vs. $206.49 mln S&P Capital IQ Consensus.
    • Co issues guidance for FY19, sees EPS of $2.05-2.12 vs. $2.07 S&P Capital IQ Consensus; sees FY19 revs of $868-880 mln vs. $885.87 mln S&P Capital IQ Consensus.
    16:16  UCTT Ultra Clean Holdings misses by $0.02, beats on revs; guides Q1 EPS below consensus, revs in-line (12.61 -0.24)

    • Reports Q4 (Dec) earnings of $0.23 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.25; revenues rose 3.4% year/year to $257.39 mln vs the $249.04 mln S&P Capital IQ Consensus.
      • Non-GAAP operating margin was 6.5% compared to 6.4% in the previous quarter and 9.5% in the same period a year ago.
    • Co issues guidance for Q1, sees EPS of $0.09-0.19, excluding non-recurring items, vs. $0.24 S&P Capital IQ Consensus; sees Q1 revs of $230-250 mln vs. $244.10 mln S&P Capital IQ Consensus.
    16:16  FSLR First Solar misses by $0.15, misses on revs; reaffirms FY19 EPS guidance, revs guidance (51.95 +0.26)

    • Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.15 worse than the S&P Capital IQ Consensus of $0.64; revenues rose 103.8% year/year to $691 mln vs the $812.52 mln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19, sees EPS of $2.25-2.75 vs. $2.58 S&P Capital IQ Consensus; sees FY19 revs of $3.24-3.45 bln vs. $3.33 bln S&P Capital IQ Consensus.
      • Gross Margin % 19.5-20.5% (Prior 20% to 21%)
      • Operating Expenses $375-390 mln (Prior $390M to $410M)
      • Operating Income $260M to $310M (Reaffirm)
      • Net Cash Balance $1.6B to $1.8B (Reaffirm)
      • Capital Expenditures $650M to $750M (Reaffirm)
      • Shipments 5.4GW to 5.6GW (Reaffirm)
    16:16  CATM Cardtronics beats by $0.10, beats on revs; guides FY18 EPS in-line, revs in-line (25.99 -1.11)

    • Reports Q4 (Dec) earnings of $0.47 per share, $0.10 better than the S&P Capital IQ Consensus of $0.37; revenues fell 9.7% year/year to $327.9 mln vs the $317.82 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY18, sees EPS of $1.94-2.05 vs. $2.05 S&P Capital IQ Consensus; sees FY18 revs of $1.31-$1.35 bln vs. $1.34 bln S&P Capital IQ Consensus.
    16:16  ACIA Acacia Communications beats by $0.06, beats on revs; guides Q1 EPS in-line, revs above consensus (47.17 +0.58)

    • Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.35; revenues rose 23.7% year/year to $107.1 mln vs the $102.84 mln S&P Capital IQ Consensus.
    • Co issues guidance for Q1, sees EPS of $0.18-0.34, excluding non-recurring items, vs. $0.23 S&P Capital IQ Consensus; sees Q1 revs of $96-104 mln vs. $92.56 mln S&P Capital IQ Consensus. 
    • "In the fourth quarter, we made significant progress in our efforts to diversify our revenue base and expand our product portfolio. We believe our customers are well positioned with our products to meet the needs of compact DCI systems that are replacing traditional telecom DWDM systems in the edge DCI market, and believe that our roadmap is well aligned with network operator architectures for their next-generation deployments."
    16:16  APPN Appian beats by $0.02, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY19 EPS in-line, revs above consensus (38.75 +0.43)

    • Reports Q4 (Dec) loss of $0.14 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of ($0.16); revenues rose 19.1% year/year to $60.22 mln vs the $55.74 mln S&P Capital IQ Consensus.
    • Co issues mixed guidance for Q1, sees EPS of ($0.17-0.16), excluding non-recurring items, vs. ($0.12) S&P Capital IQ Consensus; sees Q1 revs of $59.5-59.8 mln vs. $58.58 mln S&P Capital IQ Consensus.
    • Co issues guidance for FY19, sees EPS of ($0.46-0.42), excluding non-recurring items, vs. ($0.44) S&P Capital IQ Consensus; sees FY19 revs of $258.5-262.5 mln vs. $254.23 mln S&P Capital IQ Consensus.
    16:15  EBS Emergent BioSolutions beats by $0.03, reports revs in-line; reaffirms Q1 revs guidance (63.72 -1.43)

    • Reports Q4 (Dec) earnings of $0.75 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.72; revenues rose 39.7% year/year to $270.7 mln vs the $269.05 mln S&P Capital IQ Consensus.
      • For Q4 2018, product sales were $217.4 million, an increase of $55.7 million or 34% as compared to 2017. The increase primarily reflects sales of NARCAN (naloxone HCl) Nasal Spray, Vivotif (Typhoid Vaccine Live Oral Ty21a) and Vaxchora (Cholera Vaccine, Live, Oral), all acquired in October 2018.
    • Co reaffirms guidance for Q1, sees Q1 revs of $185-205 mln vs. $199.05 mln two analyst estimate.
    16:14  TGH Textainer Group misses by $0.14, beats on revs (13.05 -0.05)

    • Reports Q4 (Dec) earnings of $0.21 per share, $0.14 worse than the S&P Capital IQ Consensus of $0.35; revenues rose 21.1% year/year to $157.12 mln vs the $146.41 mln S&P Capital IQ Consensus.
      • Utilization averaged 98.6% for the fourth quarter, an improvement of 60 basis points over the third quarter, and is currently at 98.3%. Utilization averaged 98.1% for the full year, an improvement of 170 basis points over the prior year
    16:14  OLED Universal Display beats by $0.08, reports revs in-line; guides FY19 revs in-line (118.48 -0.47)

    • Reports Q4 (Dec) earnings of $0.40 per share, $0.08 better than the S&P Capital IQ Consensus of $0.32; revenues fell 39.5% year/year to $70.14 mln vs the $70.18 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of $325-350 mln vs. $335.28 mln S&P Capital IQ Consensus.
    • For 2019, co forecasts meaningful growth to resume as new OLED capacity comes online, new OLED products are launched, and progress continues with customers' OLED commercialization plans. With the ongoing proliferation of OLED applications, the co believes that the market is excited for stunningly colorful, thin, and cutting-edge products, including groundbreaking plastic-based form factors that are expected to forge new and extraordinary commercial product roadmaps in the display and lighting industries.
    16:13  AAOI Applied Optoelectronics beats by $0.02, misses on revs; guides Q1 EPS and rev below consensus (14.60 -0.01)

    • Reports Q4 (Dec) loss of $0.02 per share, $0.02 better than the S&P Capital IQ Consensus of ($0.04); revenues fell 27.4% year/year to $58 mln vs the $60.3 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for Q1, sees EPS of ($0.29-0.18), excluding non-recurring items, vs. $0.11 S&P Capital IQ Consensus; sees Q1 revs of $50-55 mln vs. $64.61 mln S&P Capital IQ Consensus. 
    • "In examining the market dynamics for 2019, we see that some inventory build-up has occurred in the datacenter supply chain as customers transitioned to 100G. Additionally, we see some conservatism in capital expenditures by datacenter customers in China. We believe these factors will affect our visibility and demand in the short-term and is reflected in our first quarter guidance. While it is still early in the year, we believe market trends may begin to improve in the second half of 2019. With the technologies we have developed and plan to bring to market, we believe we are in a strong competitive position to address customer needs as demand improves."
    16:13  AHH Armada Hoffler Properties increases quarterly cash dividend to $0.21/share from $0.20/share (15.44 -0.11)

     
    16:13  BEAT BioTelemetry beats by $0.13, reports revs in-line (73.34 -2.04)

    • Reports Q4 (Dec) earnings of $0.56 per share, excluding non-recurring items, $0.13 better than the S&P Capital IQ Consensus of $0.43; revenues rose 13.0% year/year to $103.6 mln vs the $102.84 mln S&P Capital IQ Consensus.
    • EPS increase was driven by the revenue growth as well as synergies gained from the integration of LifeWatch.
    • Gross profit for the fourth quarter 2018 was $63.9 million, or 61.7% of revenue, compared to $54.4 million, or 59.3% of revenue, for the fourth quarter 2017.
    16:13  TXMD TherapeuticsMD reports EPS in-line, beats on revs (5.09 -0.37)

    • Reports Q4 (Dec) loss of $0.17 per share, in-line with the S&P Capital IQ Consensus of ($0.17); revenues rose 23.5% year/year to $5.09 mln vs the $4.45 mln S&P Capital IQ Consensus.
    • Approximately 47,500 prescriptions of IMVEXXY were dispensed to approximately 22,200 patients during the fourth quarter of 2018.
    • Key Expected Events in 2019
      • 1Q 2019 through 3Q 2019 -- Expand IMVEXXY Part D coverage
      • 1Q 2019 -- Expandsales force by 25% to 200 sales representatives to increase reach of IMVEXXY and launch BIJUVA
      • 2H 2019 - Begin direct-to-consumer marketing for IMVEXXY
      • 2Q 2019 -- U.S. commercial launch of BIJUVA (estradiol and progesterone) capsules and draw second $75 million debt tranche with MidCap Financial Trust
      • 2H (targeting 3Q) 2019 - U.S. commercial launch of ANNOVERA (segesterone acetate and ethinyl estradiol vaginal system)
      • 2H 2019 -- Debt funding for ANNOVERA
      • Late 4Q 2019 - BIJUVA 6-month "new to market" payer block expected to end
      • Throughout 2019 - Continue to expand BIO-IGNITE with a fuller expansion towards the end of 2019 when the six-month payer block for BIJUVA is expected to end
    • As of December 31, 2018, the company's cash on hand totaled approximately $161.6 million, compared with approximately $127.1 million at December 31, 2017.
    16:12  PE Parsley Energy misses by $0.04, reports revs in-line (17.93 -0.61)

    • Reports Q4 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $0.34; revenues rose 46.0% year/year to $454.9 mln vs the $456.66 mln S&P Capital IQ Consensus
    • Parsley reiterates the development plan, capital budget, and production guidance outlined in its preliminary 2019 outlook issued in mid-December. Parsley's baseline capital budget assumes a $50 WTI oil price
    • The co expects first quarter 2019 net oil production to average 75.5-78.0 MBo/d
    • Sees 2019 production guidance at 80.0-85.0 (Mbo/d), up from 109.4 MBoe/d in 2018
    16:12  ZG Zillow C announces Zillow co-founder, Rich Barton, returns as CEO (35.04 +0.21)

    • Barton served as the company's CEO from 2005 until 2010.
    • Barton has been executive chairman since stepping down as CEO. Co-founder of Zillow Group Lloyd Frink will now become executive chairman.
    • Co-founder Spencer Rascoff will remain on Zillow Group's board of directors. Rascoff has led Zillow Group as CEO from 2010 through its IPO.
    16:12  BYD Boyd Gaming misses by $0.02, beats on revs (28.28 -0.12)

    • Reports Q4 (Dec) earnings of $0.32 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.34; revenues rose 33.0% year/year to $791.6 mln vs the $774.43 mln S&P Capital IQ Consensus.
    • Total Adjusted EBITDAR was $208.6 million in 4Q18, up 40.7% from $148.3 million in 4Q17.
    • FY19 Guidance: BY projects total Adjusted EBITDAR of $885-$910 mln.
    16:11  HCC Warrior Met Coal beats by $0.21, beats on revs (28.95 +0.34)

    • Reports Q4 (Dec) earnings of $2.38 per share, excluding non-recurring items, $0.21 better than the S&P Capital IQ Consensus of $2.17; revenues rose 50.3% year/year to $360.36 mln vs the $334.92 mln S&P Capital IQ Consensus.
    • Warrior continues to advance its Blue Creek growth project and evaluate various development options to enhance project economics and reduce execution risk. Warrior believes that Blue Creek represents one of the few remaining untapped reserves of premium High Vol A metallurgical coal in the United States and that it has the potential to provide Warrior with meaningful growth.
    • . The Company's guidance for the full year 2019 is summarized below:
      • Coal sales 7.1 - 7.6 million short tons
      • Coal production 7.1 - 7.6 million short tons
      • Cash cost of sales (free-on-board port) $89 - $95 per short ton
      • Capital expenditures $100 - $120 million
    16:11  ROKU Roku beats by $0.01, beats on revs; guides Q1 revs in-line; guides FY19 revs above consensus (51.48 -2.16)

    • Reports Q4 (Dec) earnings of $0.05 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.04; revenues rose 46.4% year/year to $275.7 mln vs the $262.03 mln S&P Capital IQ Consensus.
      • Active Accounts 27.1 mln (+40% y/y)
      • Streaming Hours 7.3 bln (+69% y/y)
      • ARPU $17.95 (+30% y/y)
    • Co issues in-line guidance for Q1, sees Q1 revs of $185-190 mln vs. $188.75 mln S&P Capital IQ Consensus. Total Gross Profit $86-90 mln; Net Loss ($32 mln)-($28 mln); Adjusted EBITDA ($12 mln)-($8 mln)
    • Co issues upside guidance for FY19, sees FY19 revs of $1.000-1.025 bln vs. $981.67 mln S&P Capital IQ Consensus; Total Gross Profit $445-460 mln; Net Loss ($90 mln)-($80 mln); Adjusted EBITDA ($5 mln)- +$5 mln
    16:11  CALA Calithera Biosciences initiates Phase 1 trial of arginase inhibitor CB-280 for the treatment of cystic fibrosis (5.54 +0.03)

    Pre-clinical studies conducted by Calithera and collaborators have validated the potential of arginase inhibition to reduce infection and improve lung function in CF patients. The first-in-human Phase 1 trial will evaluate the safety, tolerability and pharmacokinetic profile of oral CB-280 in healthy volunteers. The study will be conducted under an FDA Investigational New Drug application.
    16:11  BMRN BioMarin Pharm misses by $0.18, misses on revs; guides FY19 profit below estimates, revs in-line (88.81 -1.85)

    • Reports Q4 (Dec) loss of $0.06 per share, excluding non-recurring items, $0.18 worse than the S&P Capital IQ Consensus of $0.12; revenues fell 1.4% year/year to $353 mln vs the $377.35 mln S&P Capital IQ Consensus.
    • Co issues guidance for FY19, sees FY19 non-GAAP net income $130-170M, below estimates; revs $1.68-1.75 bln vs. $1.72 bln S&P Capital IQ Consensus. Vimizim Net Product Revenues $530 to $570; Kuvan Net Product Revenues $420 to $460; Naglazyme Net Product Revenues $350 to $380; Palynziq Net Product Revenues $70 to $100; Brineura Net Product Revenues $55 to $75
    16:10  KEYS Keysight beats by $0.13, beats on revs; guides Q2 EPS, revs above consensus (81.75 +0.67)

    • Reports Q1 (Jan) earnings of $0.93 per share, $0.13 better than the S&P Capital IQ Consensus of $0.80; revenues rose 20.2% year/year to $1.01 bln vs the $0.98 bln S&P Capital IQ Consensus.
    • Co issues upside guidance for Q2, sees EPS of $0.93-0.99 vs. $0.92 S&P Capital IQ Consensus; sees Q2 revs of $1.06-1.08 bln vs. $1.04 bln S&P Capital IQ Consensus.
    16:10  INFN Infinera beats by $0.03, beats on revs; guides Q1 EPS below consensus, revs below consensus (4.85 -0.05)

    • Reports Q4 (Dec) loss of $0.25 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of ($0.28); Non-GAAP revenues rose 69.6% year/year to $336.6 mln vs the $324.85 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for Q1, sees EPS of ($0.29) - ($0.25), excluding non-recurring items, vs. ($0.20) S&P Capital IQ Consensus; sees Q1 revs of $300-320 mln (Non-GAAP) vs. $327.53 mln S&P Capital IQ Consensus. GAAP gross margin is expected to be 27% +/- 200 bps. Non-GAAP gross margin is expected to be 31% +/- 200 bps.
    16:10  XOG Extraction Oil & Gas beats by $0.45, beats on revs (3.81 -0.10)

    • Reports Q4 (Dec) earnings of $0.51 per share, $0.45 better than the S&P Capital IQ Consensus of $0.06; revenues rose 34.6% year/year to $288.17 mln vs the $253.38 mln S&P Capital IQ Consensus.
      • Year-end proved reserves increased 19% year-over-year to 348 MMBoe
    • Co expects 2019 Total equivalent production between 87.5 MBoe/d and 93.0 MBoe/d. Drilling and completion capital expenditures expected between $585 mln to $675 mln. Lease operating expense expected between $2.65/BOE and $3.05/BOE
    16:09  EXAS Exact Sciences beats by $0.05, reports revs in-line; guides FY19 revs in-line (83.28 -0.35)

    • Reports Q4 (Dec) loss of $0.44 per share, $0.05 better than the S&P Capital IQ Consensus of ($0.49); revenues rose 63.6% year/year to $142.98 mln vs the $143 mln S&P Capital IQ Consensus; completed approximately 292,000 Cologuard tests
    • Average Cologuard recognized revenue per test was $486, a decrease of 2 percent; Average Cologuard cost per test was $129, an improvement of 4 percent
    • Co issues in-line guidance for FY19, sees FY19 revs of $710-730 mln vs. $713.54 mln S&P Capital IQ Consensus.
    • Cash, cash equivalents and marketable securities were $1.1 billion at the end of the quarter
    16:09  HPE Hewlett Packard Enterprise beats by $0.07, misses on revs; guides Q2 EPS in-line; guides FY19 EPS in-line (16.23 +0.18)

    • Reports Q1 (Jan) earnings of $0.42 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.35; revenues fell 1.6% year/year to $7.55 bln vs the $7.65 bln S&P Capital IQ Consensus.
    • Co issues in-line guidance for Q2, sees EPS of $0.34-0.38, excluding non-recurring items, vs. $0.36 S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees EPS of $1.56-1.66, excluding non-recurring items, vs. $1.58 S&P Capital IQ Consensus.
    16:08  CBPX Continental Building Products reports EPS in-line, beats on revs; sees 2019 CapEx of $28-32 mln (27.48 +0.24)

    • Reports Q4 (Dec) earnings of $0.56 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.56; revenues rose 7.2% year/year to $140.8 mln vs the $134.94 mln S&P Capital IQ Consensus. EBITDA increased 7.0% to $39.8 million.
    • Outlook for the Full Year 2019: SG&A of $40-42 million. Cost of goods sold inflation per unit compared to the prior year is expected to be 4.5-6.5%. Total capital expenditures of $28 - 32 million.
    • Buchanan Plant Update: As previously announced, in January 2019 the Buchanan plant experienced a significant equipment malfunction, resulting in an outage at the plant. Co  is working to resolve the outage and expects the plant to resume operations by mid-March upon completion of repairs. While the Buchanan plant is down, the Company has increased production at its plants in Silver Grove, Kentucky and Palatka, Florida to offset a portion of the lost production from the Buchanan plant. The insurance coverage is designed to cover not only the direct costs of the damaged equipment, but also the lost contribution margin of the sales that otherwise would have been made by the plant.
    16:08  ANIK Anika Therapeutics beats by $0.22, beats on revs; guides FY19 revs below consensus (40.49 +0.44)

    • Reports Q4 (Dec) earnings of $0.54 per share, $0.22 better than the S&P Capital IQ Consensus of $0.32; revenues fell 8.2% year/year to $27 mln vs the $26.22 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees FY19 revs declining by 3-6%, equating to approx $99.3-$102.4 mln vs. $113.97 mln S&P Capital IQ Consensus. The decrease is due primarily to continued pricing pressures on its U.S. viscosupplement business. Adjusted EBITDA is expected to be in the low $30 million range, which is based on anticipated U.S. GAAP net income in the mid-teen to around $20 million range.
    16:07  PXD Pioneer Natural Resources CEO, Timothy L. Dove, to retire; Scott D. Sheffield, Chairman of the Board, will return to his former role as CEO (136.20 -5.08)

    • Sheffield previously served as CEO from 1997 to 2016.
    • Lead Director, J. Kenneth Thompson, will become Chairman of the Board, also effective immediately.
    16:07  DBX Dropbox beats by $0.02, beats on revs; Note -- Co typically guides on the call, at 5pm ET (25.59 +0.10)

    • Reports Q4 (Dec) earnings of $0.10 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.08; revenues rose 23.0% year/year to $375.9 mln vs the $370.0 mln S&P Capital IQ Consensus and vs prior guidance of $367-370 mln.
      • Non-GAAP operating margin improved to 11.0% vs prior guidance of 9-10%. This compares to 3.3% in the prior year period.
    • Note: DBX typically guides for revenue and non-GAAP operating margin on the call for the next quarter and full year. Call starts at 5pm ET. Be sure to monitor InPlay.
    16:07  GNMK GenMark Diagnostics appoints Scott Mendel as COO; promotes Johnny Ek to CFO, effective immediately (6.82 +0.09)

    As Mr. Mendel, who currently acts as GenMark's CFO, assumes the newly created role of COO, Mr. Ek, who has served as GenMark's VP of Finance and Corporate Controller since 2013, has simultaneously been promoted to transition into the role of CFO.
    16:06  ADSW Advanced Disposal misses by $0.01, beats on revs; guides FY19 revs in-line (27.61 +0.04)

    • Reports Q4 (Dec) earnings of $0.13 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.14; revenues rose 2.7% year/year to $394.8 mln vs the $386.64 mln S&P Capital IQ Consensus.
    • Co issues in-line guidance for FY19, sees FY19 revs of $1.60-1.63 bln vs. $1.62 bln S&P Capital IQ Consensus.
    16:06  INTU Intuit beats by $0.14, beats on revs; guides Q3 EPS in-line, revs above consensus; reaffirms FY19 EPS guidance, revs guidance (235.03 -0.94)

    • Reports Q2 (Jan) earnings of $1.00 per share, excluding non-recurring items, $0.14 better than the S&P Capital IQ Consensus of $0.86; revenues rose 12.2% year/year to $1.5 bln vs the $1.48 bln S&P Capital IQ Consensus.
    • Growth remains strong across multiple geographies, with U.S. subscribers growing 32 percent to approximately 2.9 million and international subscribers growing 56 percent to over 980,000.
    • Within QuickBooks Online, Self-Employed subscribers grew to approximately 845,000, up from roughly 489,000 one year ago.
    • Co issues guidance for Q3, sees EPS of $5.35-5.40, excluding non-recurring items, vs. $5.38 S&P Capital IQ Consensus; sees Q3 revs of +10-12% to approximately $3.22-3.36 bln vs. $3.19 bln S&P Capital IQ Consensus.
    • Co reaffirms guidance for FY19, sees EPS of $6.40-6.50, excluding non-recurring items, vs. $6.52 S&P Capital IQ Consensus; sees FY19 revs of $6.53-6.63 bln vs. $6.64 bln S&P Capital IQ Consensus.
    16:06  CZR Caesars Entertainment beats by $0.36, reports revs in-line (9.43 -0.19)

    • Reports Q4 (Dec) earnings of $0.25 per share, $0.36 better than the S&P Capital IQ Consensus of ($0.11); revenues rose 11.3% year/year to $2.12 bln vs the $2.11 bln S&P Capital IQ Consensus.
    • Enterprise-wide fourth quarter adjusted EBITDAR increased 12.1%, or $61 million, from $506 million to $567 million; Enterprise-wide fourth quarter adjusted EBITDAR margin increased 110 basis points to 26.8%.
    16:05  AL Air Lease beats by $0.22, misses on revs (37.81 -0.51)

    • Reports Q4 (Dec) earnings of $1.65 per share, excluding non-recurring items, $0.22 better than the S&P Capital IQ Consensus of $1.43; revenues rose 12.9% year/year to $449.98 mln vs the $458.8 mln S&P Capital IQ Consensus.
    16:05  TTD The Trade Desk beats by $0.30, beats on revs; guides Q1 revs above consensus; guides FY19 revs above consensus (150.49 +0.40)

    • Reports Q4 (Dec) adj. earnings of $1.09 per share, $0.30 better than the S&P Capital IQ Consensus of $0.79; revenues rose 56.4% year/year to $160.5 mln vs the $147.83 mln S&P Capital IQ Consensus. 2018 gross spend on the platform was over $2.35 billion, a 51% increase from a year ago. According to Magna Global, total real-time-bidding programmatic was estimated to increase 22% in 2018.
    • Continued Omni-channel Growth: Omni-channel solutions remain a strategic focus for The Trade Desk as the industry continues shifting toward transparency and programmatic buying. Specific channel spend highlights include: Mobile (in-app, video and web) grew 69% from Q4 2017 to Q4 2018. Connected TV grew over 525% from Q4 2017 to Q4 2018. Connected TV grew over 9X from 2017 to 2018. Audio grew over 230% from 2017 to 2018. Mobile video grew over 130% from 2017 to 2018. Mobile in-app grew over 90% from 2017 to 2018.
    • Co issues upside guidance for Q1, sees Q1 revs of $116 mln vs. $114.42 mln S&P Capital IQ Consensus; EBITDA $18.3 mln, below estimates.
    • Co issues upside guidance for FY19, sees FY19 revs of at least $637 mln vs. $616.93 mln S&P Capital IQ Consensus; total Gross Spend of at least $3.2 billion; EBITDA $182 mln vs. ~190M ests.
    16:04  SBAC SBA Comm beats by $0.03, beats on revs; guides FY18 revs above consensus; guides FY19 FFO above consensus (182.66 -0.33)

    • Reports Q4 (Dec) funds from operations of $2.00 per share, $0.03 better than the S&P Capital IQ Consensus of $1.97; revenues rose 9.2% year/year to $483.85 mln vs the $472.87 mln S&P Capital IQ Consensus.
    • Co issues upside guidance for FY18, sees FY18 revs of $1.93 bln to $1.97 bln vs. $1.85 bln S&P Capital IQ Consensus.
    • Co issues upside guidance for FY19, sees FFO of $7.95 to $8.44 vs. $7.79 S&P Capital IQ Consensus.
    16:04  BJRI BJ Restaurants misses by $0.02, reports revs in-line; comps +4.5% (51.97 +0.72)

    • Reports Q4 (Dec) earnings of $0.49 per share, excluding non-recurring items, $0.02 worse than the S&P Capital IQ Consensus of $0.51; revenues rose 7.4% year/year to $280.5 mln vs the $278.3 mln S&P Capital IQ Consensus. Total restaurant operating weeks increased approximately 3.0%; Comparable restaurant sales rose 4.5%.
    • "Our 2019 development pipeline is in excellent shape to meet our current plan of opening seven to nine new restaurants. While we plan to accelerate the pace of our restaurant openings this year, we will maintain a balanced approach to new restaurant growth with new restaurant quality and hospitality taking precedence over new restaurant quantity, a discipline that has served BJ's, our guests and shareholders well over the last few years. This approach has provided the financial flexibility to allocate our strong cash flows to share repurchases, dividend payments and other initiatives that can enhance shareholder value."
    16:04  MDRX Allscripts Healthcare misses by $0.01, misses on revs; guides Q1 revs below consensus; guides FY19 EPS below consensus (11.94 -0.22)

    • Reports Q4 (Dec) earnings of $0.20 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.21; revenues fell 1.6% year/year to $538 mln vs the $565.52 mln S&P Capital IQ Consensus.
    • Bookings were $531 million in 4Q18. This result compares with $314 million in 4Q17.
    • Co issues downside guidance for Q1, sees Q1 revs of $430-$440 mln vs. $504.68 mln S&P Capital IQ Consensus.
    • Co issues downside guidance for FY19, sees EPS of $0.65-$0.70 vs. $0.81 S&P Capital IQ Consensus. Sees bookings of $900 mln and $1.0 bln.
    16:04  OLED Universal Display increases quarterly cash dividend to $0.10/share from $0.06/share (118.48 -0.47)

     
    16:03  HALO Halozyme Therapeutics beats by $0.02, reports revs in-line; co also provides 2019 outlook (16.61 -0.26)

    • Reports Q4 (Dec) loss of $0.01 per share, $0.02 better than the S&P Capital IQ Consensus of ($0.03); revenues fell 68.2% year/year to $60.23 mln vs the $59.77 mln S&P Capital IQ Consensus.
    • Halozyme updated its 2019 financial guidance, first provided on January 9, 2019, to reflect the recent argenx collaboration and license agreement:
      • Net revenue of $205 million to $215 million, excluding revenue from any additional, new ENHANZE global collaboration and licensing agreements;