Market Overview

The Market In 5 Minutes: Payrolls, Smith & Wesson Earnings And Starbucks' CEO Change

The Market In 5 Minutes: Payrolls, Smith & Wesson Earnings And Starbucks' CEO Change

Macro Focus

Futures for the Dow Jones Industrial Average dropped 29 points to 19,168.00, while the Standard & Poor’s 500 index futures dropped 5.25 points to 2,186.50. Futures for the Nasdaq 100 index declined 20.25 points to 4,715.00.

Oil prices traded lower as Brent crude futures declined 1.35 percent to trade at $53.21 per barrel, while US WTI crude futures also fell 1.14 percent to trade at $50.48 a barrel.

USA Nonfarm Payrolls for Nov 178.0K vs 175.0K consensus estimate. The prior reading was 161.0K. Private Payrolls for Nov 156.0K vs 165.0K consensus estimate.

USA Unemployment Rate for Nov 4.60% vs 4.90% consensus estimate. The prior reading was 4.90%.

  • Federal Reserve Gov. Daniel Tarullo will speak in Washington, D.C. at 12:30 p.m. ET.
  • The Baker Hughes North American rig count report for the latest week November is schedule for release at 1:00 p.m. ET.

BZ News Desk Focus

  • Ulta Beauty (NASDAQ: ULTA) Reports Q3 EPs $1.40 vs $1.37 Est, Sales $1.131B vs $1.11B Est
  • Five Below (NASDAQ: FIVE) Reports Q3 EPS $0.10 In-Line With Estimates, Sales $199.5M vs $201.03M Est
  • Workday (NYSE: WDAY) Reports Q3 EPS $0.03 vs. Est. $(0.04), Rev. $409.6M vs. Est. $400M
  • Ambarella (NASDAQ: AMBA) Reports Q3 EPS $1.11 vs. Est. $0.94, Rev. $100.5M vs. Est. $97.3M
  • Smith & Wesson (NASDAQ: SWHC) Reports Q2 Adj $0.68 vs $0.56 Est Sales $233.5M vs $227.61M Est
  • Big Lots (NYSE: BIG) Q3 EPS $0.04 vs $(0.01) Est; Revenue $1.105B vs $1.12B Est
  • Genesco (NYSE: GCO) Reports Q3 EPS $1.30 vs. Est. $0.93, Rev. $711M vs. Est. $716M

Sell-Side Themes

Dougherty initiated coverage on a few healthcare names, putting Buy ratings on Athenahealth (NASDAQ: ATHN) and BioTelemetry (NASDAQ: BEAT).

Sell-Side's Most Noteworthy Calls

  • Canaccord downgraded Lululemon (NASDAQ: LULU) to Sell.
  • Barclays downgraded Xcel Energy (NYSE: XEL) to Equal-Weight.
  • Bank of America upgraded JC Penney (NYSE: JCP) to Buy.
  • Deutsche Bank upgraded Square (NYSE: SQ) to Buy.
  • Guggenheim started Pfizer (NYSE: PFE) at Neutral.
  • BMO started ExxonMobil (NYSE: XOM) at Market Perform.

Deal Talk

Leon Black’s Apollo Global Management is teaming up with a foam maker in a bid for foam-bed maker Innocor, two sources close to the situation told The New York Post.

Cummins (NYSE: CMI) is considering the sale of its unit business that manufactures filters and coolants, according to sources as reported by Reuters. The unit could be worth more than $1.5 billion, sources said.

Alibaba (NYSE: BABA) is said to be in talks to acquire India's Snapdeal, according to a report from Factor Daily. The report cites three sources as saying a deal can happen if a price is agreed upon for the Amazon competitor. Reports of of a potential Snapdeal acquisition follow a stall in talks with Flipkart. Reuters later reported that Alibaba was not in talks to buy Snapdeal.

In The News

Howard Schultz will be stepping down as chief executive officer of Starbucks (NASDAQ: SBUX). Kevin Johnson will takeover CEO duties on April 3, 2017. Schultz will remain chair of the company.

The incoming administration aims to press ahead with its goals to overhaul the tax code, health care and immigration during its early days in the White House, Vice President-elect Mike Pence said.


"Through compromise and arm-twisting, OPEC oil ministers managed to put flesh on the bones of the output cut they announced in Algeria in September. But their hard work might be undermined by the countries exempted from the deal: Libya and Nigeria."



Guess This Chart

  • This stock traded up Thursday after hours after the company reported a top and bottom-line earnings beat and strong guidance.
  • This consumer goods company's stock is up nearly 170 percent in the last four years.
  • Sympathy plays include Estee Lauder, Sally Beauty and Regis.

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