22. juuni 2017. a. | 15:06

LHV finantsportaal

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Börsipäev 19. juuni

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  • Eelmise nädala kõrgehetkeks kujunenud FOMC istung elati üle üsna valutult, vaatamata sellele, et Föderaalreservi nägemus inflatsioonist ja intressimäärast läheb kohati lahku turuosaliste omast. Reedel marginaalse muutusega sulgunud S&P 500 indeks suutis ka nädala lõikes näidata vaid 0,06% tõusu, küll aga jättis müügisurve tehnoloogiasektoris Nasdaqile tugevama jälje (-0,9%). Euroopas rallis Stoxx 600 reedel 0,7% , vähendades nädala kaotust -0,5% peale.



    USA valitsuse võlakirjaturul aga jätkus hinnatõus, mida reedel toetas oodatust nõrgemaks kujunenud konjunktuur. Pettumuse valmistasid nii alustatud elamuehituste kui ka väljastatud ehituslubade maikuu arv, mis viitab teises kvartalis oluliselt aeglustunud eluaseme investeeringutele ning muudab küsitavaks ka lähikvartalite väljavaate. Michigani ülikooli koostatud USA tarbijate kindlustunde indeks alanes juunis 97,1 punktilt 94,5 punktile (oodati 97,0), mis ei jää väga kaugele jaanuaris saavutatud 17a tipust (98,5), kuid peegeldab ilmselt reformide osas mõnevõrra langenud ootusi.

    Reedel esinenud Minneapolis FEDi presidendi Neel Kashkari arvates ei oleks pidanud keskpank eelmisel nädalal inflatsioonisurve languse tõttu intressimäära tõstma. FEDil oleks olnud targem oodata ära kinnitus, et inflatsiooni mõjutavad tõepoolest lühiajaliselt tegurid ning et pikaajaline eesmärk suudetakse saavutada. Dallas FEDi president Robert Kaplan ei argumenteeri veel pausi tegemist intressimäära tsüklis, kuid järgmisel tõstmisel tunneks ta end siiski kindlamalt, kui oleks täiendavat tõestust 2% inflatsiooni suunas liikumise kohta.

    Hiina kinnisvaraturul jätkus mais hinnatõusu aeglustumine, kui 70s linnas kasvas uute majade keskmine hind aastatagusega võrreldes 9,46% (9,63% aprillis). Mõju avaldasid hinnatrendid esimese ja teise järgu linnades, kus hinnakasv aeglustus vastavalt 14,35% pealt 12,33%le ning 12,16% pealt 11,36%le. Kolmanda järgu linnades kiirenes kasv 6,7%lt 7,34%le.



    Täna alustab Suurbritannia ametlikult Brexiti läbirääkimisi Euroopa Liiduga, mida peaministri Theresa May jaoks raskendavad hiljutised valimistulemused ning väidetavalt ka silmitsi seis umbusaldushääletusega. Olulisi majandusuudiseid täna pole, küll võib huvi pakkuda NY FEDi presidendi William Dudley esinemine ning tema hinnang FOMC eelmise nädala otsusele.

    15.00 FEDi Dudley esineb
  • UPGRADES:
    * AGCO (AGCO) raised to neutral at BofAML, PT $70
    * AK Steel (AKS) raised to buy at Longbow, PT $10
    * American Campus (ACC) raised to inline at Evercore ISI, PT $49
    * Athene (ATH) raised to outperform at Credit Suisse, PT $66
    * Biogen (BIIB) raised to neutral at UBS, PT $270
    * CNH Industrial (CNHI) raised to buy at BofAML
    * Ensco (ESV) raised to overweight at Piper Jaffray, PT $7.70
    * MercadoLibre (MELI) raised to buy at Citi
    * Nucor (NUE) raised to buy at Longbow, PT $66
    * Steel Dynamics (STLD) raised to buy at Longbow, PT $40
    * Thomson Reuters (TRI CN) raised to buy at Deutsche Bank
    * U.S. Steel (X) raised to buy at Longbow, PT $30

    DOWNGRADES:
    * Allscripts (MDRX) cut to market perform at Leerink, PT $13
    * Atwood Oceanics (ATW) cut to neutral at Piper Jaffray, PT $10
    * Costco (COST) cut to hold at Deutsche Bank
    * Impinj (PI) cut to equal-weight at Morgan Stanley, PT $51
    * Kroger (KR) cut to equal-weight at Morgan Stanley, PT $23
    * NXP Semi (QCOM) cut to hold at Deutsche Bank
    * Travelers (TRV) cut to neutral at BofAML, PT $134
    * TripAdvisor (TRIP) cut to underperform at Credit Suisse, PT $34

    INITIATIONS:
    * Appian (APPN) new equal-weight at Barclays, PT $19
    * Appian (APPN) new equal-weight at Morgan Stanley, PT $18
    * Appian (APPN) new hold at Canaccord, PT $18
    * Appian (APPN) new neutral at Goldman, PT $17
    * Appian (APPN) new outperform at Cowen, PT $21
    * Appian (APPN) new sector weight at Pacific Crest
    * Ardagh (ARD) new market perform at BMO, PT $26
    * Donnelley Financial Solutions (DFIN) new neutral at Citi, PT$25
    * Eaton Corp (ETN) new market perform at JMP
    * Emerson Electric (EMR) new market outperform at JMP, PT $70
    * Hubbell (HUBB) new market perform at JMP
    * Johnson Controls (JCI) new market outperform at JMP, PT $54
    * Qualcomm (QCOM) reinstated hold at Deutsche Bank, PT $62
    * SMART Global Holdings (SGH) new buy at Deutsche Bank, PT $18
    * SMART Global Holdings (SGH) new buy at Jefferies, PT $21
    * SMART Global Holdings (SGH) new buy at Stifel, PT $27
    * SMART Global Holdings (SGH) new overweight at Barclays, PT $19
    * SMART Global Holdings (SGH) new strong buy at Needham, PT $20
    * Uniti Group (UNIT) new outperform at RBC, PT $32
    * WideOpenWest (WOW) new buy at SunTrust, PT $24
    * WideOpenWest (WOW) new buy at UBS, PT $21
    * WideOpenWest (WOW) new outperform at Evercore ISI, PT $20
    * WideOpenWest (WOW) new outperform at RBC, PT $20
    * WideOpenWest (WOW) new strong buy at Raymond James, PT $21
  • DUDLEY SAYS INFLATION A LITTLE LOWER THAN FED WOULD LIKE
    DUDLEY SAYS U.S. ECONOMY IS PRETTY CLOSE TO FULL EMPLOYMENT
    DUDLEY CALLS WEAK PRODUCTIVITY GROWTH A `FLY IN THE OINTMENT'
    DUDLEY SAYS CONFIDENCE LEVELS ARE `VERY, VERY HIGH'
    DUDLEY SAYS HE'S CONFIDENT EXPANSION HAS LONG WAY TO GO
    DUDLEY: WAGE GROWTH PRETTY CONSISTENT WITH PRODUCTIVITY GROWTH
    DUDLEY: WAGE GROWTH TO QUICKEN BIT MORE AS JOB MARKET TIGHTENS

  • Gapping up
    In reaction to strong earnings/guidance
    : N/A

    M&A news:
    NVDQ +92% (to be acquired by Stryker (SYK) for $11.75/share)
    RICE +28% (Rice Energy and EQT (EQT) acquisition confirmed for total consideration of approximately $6.7 billion)
    Select Tech names showing strength:
    FNSR +1.5%, AMD +1.4%, MU +1.3%, MOMO +1.3%, NFLX +1.1%, NVDA +1%, AMZN +0.9%, FB +0.9%, MSFT +0.8%, TSLA +0.8%
    Other news:
    CLVS +44% (reports data from Phase 3 ARIEL3 study achieved primary endpoint; plans to submit NDA in next 4 months)
    RIGL +13.2% (FDA has accepted the New Drug Application for TAVALISSE)
    WKHS +4.7% (unveiled its Surefly helicopter concept at the Paris Air Show (Static display B10) and released specifications. The company is now accepting pre-orders for SureFly)
    JD +3.5% (issued an update on its Anniversary Sales)
    HII +3.2% (confirms it has been awarded a $3 billion contract for the detail design and construction of the amphibious assault ship Bougainville)
    VRX +3.2% (announces that its Board has elected John Paulson to serve as a director, effective June 14)
    ADMP +2.9% (continued strength following last week's move higher)
    AAOI +2.9% (continued strength)
    JUNO +2% (presents data from the TRANSCEND trial of JCAR017 in relapsed and refractory aggressive B cell non-Hodgkin lymphoma)
    HZNP +2% (Health Canada has issued a Notice of Compliance for PROCYSBI)
    CRAY +1.9% (receives contract from New Zealand's National Institute of Water and Atmospheric Research worth $18 mln)
    Analyst comments:
    CS +3.7% (upgraded to Buy from Hold at Deutsche Bank )
    AKS +2.8% (upgraded to Buy from Neutral at Longbow)
    X +2.3% (upgraded to Buy from Neutral at Longbow)
    NUE +1.1% (upgraded to Buy from Neutral at Longbow)
    AAPL +1.1% (target raised to $180 at Maxim Group)
    BIIB +1.1% (upgraded to Neutral from Sell at UBS)
    AGCO +1% (upgraded to Neutral from Underperform at BofA/Merrill)
    CNHI +0.9% (upgraded to Buy from Neutral at BofA/Merrill)
    Gapping down
    In reaction to disappointing earnings/guidance:

    N/A
    M&A news:

    EQT -5.4% (Rice Energy (RICE) and EQT acquisition confirmed for total consideration of ~$6.7 billion)
    Other news:
    SGEN -11.7% (discontinuing the phase 3 CASCADE clinical trial of vadastuximab talirine)
    TSRO -11.3% (after CLVS reported positive topline data from the confirmatory phase 3 ARIEL3 trial of rucaparib; PARP competitor Tesaro trading lower in response)
    LTBR -3.2% (files for 1,853,960 share common stock offering by Aspire Capital Fund)
    Analyst comments:
    PI -3.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
    TRIP -2.1% (downgraded to Underperform from Neutral at Credit Suisse)
    LYV -1.3% (downgraded to Neutral from Buy at Northcoast)
    IHG -1.3% (downgraded to Neutral from Outperform at Credit Suisse)

    Briefing.com

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