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The Market In 5 Minutes: Stock Futures Boosted By FBI's Latest Clinton News

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The Market In 5 Minutes: Stock Futures Boosted By FBI's Latest Clinton News

Macro Focus

Futures for the Dow Jones Industrial Average jumped 225 points to 18,024.00, while the Standard & Poor’s 500 index futures gained 27.25 points to 2,106.75. Futures for the Nasdaq 100 index climbed 68.75 points to 4,725.00.

Oil prices traded higher as Brent crude futures gained 1.25 percent to trade at $46.15 per barrel, while US WTI crude futures also rose 1.38 percent to trade at $44.68 a barrel.

  • The Labor Market Conditions Index for October will be released at 10:00 a.m. ET.
  • The TD Ameritrade Investor Movement Index for October is schedule for release at 12:30 p.m. ET.
  • Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 2:45 p.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • Data on consumer credit for September will be released at 3:00 p.m. ET.

BZ News Desk Focus

  • Rockwell Automation (NYSE: ROK) Q4 EPS $1.52 vs $1.48 Est, Revenue $1.54B vs $1.51B Est
  • Horizon Pharma (NASDAQ: HZNP) Reports Q3 EPS $0.70 vs. Est. $0.63, Rev. $273.7M vs. Est. $270M
  • LendingClub (NYSE: LC) Q3 EPS $(0.04) vs $(0.07) Est, Revenue $112.6M vs $103.3M Est

It's about that time when big retailers begin to take their turns on the earnings stage. The latest quarterly numbers from department store operators Kohl's (NYSE: KSS) and Macy's (NYSE: M) will be among the highlights this week. Analysts by and large expect to see declines on the top and bottom lines from both of them.

Sell-Side Themes

Analysts began initiating coverage on Extraction Oil & Gas LLC (NASDAQ: XOG) with price targets ranging from $23 to $30.

Sell-Side's Most Noteworthy Calls

  • Bank of America downgraded GoPro (NASDAQ: GPRO) to Underperform.
  • Morgan Stanley downgraded Xerox (NYSE: XRX) to Underweight.
  • Imperial upgraded CyberArk (NASDAQ: CYBR) to Outperform.
  • Piper Jaffray upgraded Biogen (NASDAQ: BIIB) to Overweight.
  • Citi started Alcoa (NYSE: AA) at Buy.

Deal Talk

Oracle (NYSE: ORCL) has moved a step closer to completing its $9.3 billion deal to buy NetSuite (NYSE: N), after accumulating enough shares from the cloud-computing pioneer’s stockholders to approve the acquisition. Oracle said Saturday that the deal for NetSuite would close Monday. NetSuite shares were up 20 percent early Monday morning.

Baidu (NASDAQ: BIDU) is seeking to raise as much as $500 million for its Waimai food delivery unit amid a costly battle with other Chinese internet giants for customers, people familiar with the matter told Bloomberg. The company is looking for at least $300 million and the funding round hasn’t been finalized, the people said, asking not to be identified as the details are private.

A major Whole Foods (NYSE: WFM) shareholder is said to have met with activist investors to discuss a potential sale of the company, according to sources as reported by Bloomberg on Friday. The unnamed shareholder said it has lost patience with the company's issues regarding inventory, high costs and vendor management. Sources say activist investors are reviewing the shareholder’s suggestions.

In The News

Federal Bureau of Investigation Director James Comey said no new evidence has been found to warrant charges against Hillary Clinton in the investigation stemming from her use of a private email server while in government.

As Clinton is perceived to be more tolerant toward the marijuana industry, investors looking for a way to profit from the election should take a closer look at some marijuana related stocks that could benefit under a Clinton administration. Regardless of who wins the race to the White House, several states are holding their own campaigns, which could see the use of cannabis legalized or pre-existing limitations expanded.

Blogosphere

"Discrimination and labor relations can't be fixed with a software update," writes Gadfly's Leila Abboud. "Uber's combative boss Travis Kalanick and Airbnb's idealistic Brian Chesky [need] to think carefully about the best way to protect fast-growing businesses while obeying evolving local laws and regulations."

Trending

IONS PGNX ORCL N UVXY CEMP PCLN CTSH HLTH NILE BID ELNK VXX LC HAE SYY

Janet Reno, the first woman to serve as U.S. Attorney General and the epicenter of several political storms during the Clinton administration, has died. She was 78. Reno died early Monday from complications of Parkinson’s disease.

Guess This Chart

  • This company will report earnings after the bell today.
  • Wall Street is expecting a report of $0.89 EPS on $4.18 billion. Earlier this year this company merged with a key competitor in a $13 billion deal.
  • Sympathy plays include Priceline and Hyatt Hotels.
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