Market Overview

The Market In 5 Minutes: Jobs Numbers, Big Earnings Close The Week

The Market In 5 Minutes: Jobs Numbers, Big Earnings Close The Week

Macro Focus

Futures for the Dow Jones Industrial Average dropped 20 points to 17,831.00, while the Standard & Poor’s 500 index futures declined 1.25 points to 2,082.25. Futures for the Nasdaq 100 index slipped 2.75 points to 4,671.50.

Oil prices traded lower as Brent crude futures declined 0.41 percent to trade at $46.16 per barrel, while US WTI crude futures also fell 0.01 percent to trade at $44.66 a barrel.

Nonfarm Payrolls for Oct 161.0K vs 175.0K consensus estimate. Private Payrolls for Oct 142.0K vs 166.0K consensus estimate

  • Dallas Federal Reserve Bank President Rob Kaplan will speak in Mexico City at 12:00 p.m. ET.
  • The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
  • Federal Reserve Vice Chairman Stanley Fischer will speak at the International Monetary Fund at 4:00 p.m. ET.

BZ News Desk Focus

  • FireEye (NASDAQ: FEYE) Reports Q3 EPS $(0.18) vs. Est. $(0.31), Rev. $186.4M vs. Est. $182.6M
  • Starbucks (NASDAQ: SBUX) Reports Q4 Adj. EPS $0.56 vs $0.55 Est., Sales $5.71B vs $5.58B Est.
  • Kraft Heinz (NASDAQ: KHC) Reports Q3 Adj. EPS $0.83 vs $0.44 in Same Qtr. Last Year, Sales $4.395B vs $4.7B Est.
  • Humana (NYSE: HUM) Reports Q3 Adj. EPS $3.18 vs $3.15 Est.
  • Twilio (NYSE: TWLO) Reports Q3 Adj. EPS $(0.04) vs $(0.08) Est., Sales $71.5M vs $66.8M Est.
  • Activision Blizzard (NASDAQ: ATVI) Reports Q3 EPS $0.49 vs. Est. $0.42, Rev. $1.56B vs. Est. $1.57B
  • Las Vegas Sands (NYSE: LVS) Reports Q3 Adj. EPS $0.72 vs $0.60 Est., Sales $2.97B vs $2.81B Est.

Sell-Side Themes

Fitbit (NYSE: FIT) received a couple more downgrades following its 25 percent fall, while Imperva (NYSE: IMPV) received at least three upgrades to Buy.

Sell-Side's Most Noteworthy Calls

  • Bank of America downgraded Whole Foods (NASDAQ: WFM) to Underperform.
  • Goldman Sachs downgraded Adeptus Health (NYSE: ADPT) to Neutral.
  • BTIG upgraded Juno (NASDAQ: JUNO) to Neutral.
  • Compass Point upgraded Callaway Golf (NYSE: ELY) to Buy.
  • Cowen started Array Biopharma (NASDAQ: ARRY) at Outperform.

Deal Talk

CBS (NYSE: CBS), which reported solid third-quarter results, had representatives meet with Time Warner (NYSE: TWX) about a possible get-together just weeks before AT&T (NYSE: T) announced it was buying the cable-TV and film conglomerate, two sources told The New York Post. CBS and Time Warner, which share NBA rights and ownership of the CW network, met over the summer to discuss interest in a merger, the sources said.

Glu Mobile (NASDAQ: GLUU) acquired shares representing approximately 80.6 percent of the issued and outstanding voting power of Crowdstar Inc. for $40.8 million in cash. CrowdStar develops mobile games and games for Facebook, including "Happy Aquarium", "Happy Pets", "Wasteland Empires" and "It Girl."

Telecommunications firms Windstream Holdings (NASDAQ: WIN) and EarthLink (NASDAQ: ELNK) are in talks to merge in an all-stock deal that would allow them to better compete against rivals, people familiar with the matter told Reuters.

In The News

Federal prosecutors, after a lengthy probe, are nearing possible criminal charges for price-collusion in the generic-drug industry, a person familiar with the matter told Wall Street Journal. The Justice Department has sent subpoenas to companies like Teva Pharmaceutical (NYSE: TEVA), Mylan (NASDAQ: MYL), Dr. Reddy's (NYSE: RDY), Taro Pharmaceuticals (NYSE: TARO), Endo International (NASDAQ: ENDO) and Actavis, which Allergan (NYSE: AGN) recently sold to Teva.

Has this election shined a new light on Wall Street's bro culture? Women sense a pickup in edgy banter on trading floors, according to this Bloomberg story.


"Here's a lesson to all companies: More disclosure is better than less." Read why Gadfly's Shelly Banjo thinks this is working out for Starbucks.



#WhyIThinkImStillSingle Because when the markets close at 4 p.m., my day is just getting started.

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All The Sell-Side Reactions To Whole Foods' Q4

Jobs Report Comes In Lower Than Expected, S&P 500 Futures Fall Under 2,100