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1
First Solar, Inc. (FSLR) stock is down heavily after reporting better than expected results but analysts are concerned with forward risk and past writedowns. FSLR reported a net loss of $719.8MM or $6.92 per share in 4Q16 compared to a net income of $164MM or $1.60 per share in 4Q15, hurt by pretax charges of $729MM primarily related to restructuring actions that were expected.

Credit Suisse's Andrew Hughes and Maheep Mandloi downgraded FSLR to underperform with guidance on project timing risks to the company's 2017 earnings estimates. This could further impair the value of its yieldco 8Point3 Energy Partners (CAFD).

Reaction: First Solar, Inc. (FSLR) NasdaqGS 34.42-2.19 (-5.99%) 10:38AM EST. Market open.
 
FSLR had $1.24 EPS and $480 million in revenue beating consensus from Thomson Reuters of $0.97 in EPS and $412.76 million in revenue. Net sales fell to $480MM compared to last year. its most recently quarterly results after markets closed on Tuesday. 




Background

First Solar, Inc. provides solar energy solutions. The company designs, manufactures, and sells PV (photovoltaic) solar modules with an advanced thin-film semiconductor technology. The company develops, designs, constructs, and sells PV solar power solutions that primarily use the solar modules that the company manufactures.
 
FSLR also manufactures crystalline silicon solar modules with proprietary high-power density, mono-crystalline technology, and it provides single-axis mounting systems with proprietary tracking capabilities. Additionally, the company provides operations and maintenance (O&M) services to plant owners that use solar modules manufactured by the company or by other third-party manufacturers.  The company operates its business in two segments, Components and Systems.

Efficiency and Bookings

FSLR's conversion efficiency for its full fleet averaged 16.6% in 4Q16, which was an increase of 10BP QoQ and a 50BP increase YoY. Module conversion efficiency on the best line improved to a 4Q16 average of 16.8%, a 20BP improvement versus 3Q16.

FSLR said since the beginning of 2017, it has booked over 400MW and this positions a lot more module shipment volume towards 2H17. The current profile of the timing of the revenue recognition on the systems business will be more heavily weighted towards 2H17. This gives confidence in the forecast for the balance of 2017.

FSLR obtained non-recourse project debt financing of $240MM in a syndicated loan arranged by Mizuho Bank Ltd. for a utility-scale solar project in Ishikawa prefecture, Japan. This demonstrates $FSLR's technology, project development, operations and maintenance, and project financing capabilities for utility-scale solar projects in Japan

Guidance

For 2017 FSLR expects to see EPS in the range of flat to $0.50 and revenues in the range of $2.8 billion to $2.9 billion. The consensus estimates are calling for $0.41 in EPS and $2.53 billion in revenue.

Quote
Despite the difficult restructuring decisions that we undertook in the fourth quarter, we ended the year with strong operational results. Our best line exited the quarter running above 16.9% conversion efficiency, and for the full year our fleet averaged 16.4% efficiency, an 80 basis point improvement over the prior year. From a financial perspective we delivered full year non-GAAP earnings per share of $5.17, exceeding our guidance for the year. We ended the year with $1.8 billion of net cash and are well positioned as we move forward with our Series 6 transition. Mark Widmar, CEO of First Solar said

FSLR will stop Series 4 production on eight lines within the next two months at its Malaysia factory. Tool ordering for Malaysia production has already commenced and will continue into 2Q17. Production startup in Malaysia is targeted for 3Q18 through 4Q18. By 1Q19, this portion of the factory is expected to have approx. 1.1GW of Series 6 capacity.

Credit Suisse's Andrew Hughes and Maheep Mandloi Downgrade

Quote
Guidance on project timing poses risks to the company's 2017 earnings estimates and could further impair the value of its yieldco 8Point3 Energy Partners (CAFD) , according to Credit Suisse.  Furthermore, First Solar's book of business for 2018 seems unlikely to support three times earnings growth, and a valuation on normalized earnings trajectory isn't compelling following the stock's recent strong run.

Canadian Solar Downgraded

Shares of  Canadian Solar (CSIQ) were also crushed 6.6%  on Wednesday, down as the company was downgraded by JPMorgan.

Quote
"We are hesitant to add to positions in this stock at this price level at this time, given what we believe will be a challenging 2017-2018 owing to industrywide manufacturing overcapacity, and lower y/y demand in key end markets," JPMorgan's Paul Coster wrote Wednesday. "Though module [average selling prices] have stabilized recently, we expect prices to slump again in [the second half of 2017], post the FIT reduction in China."

SunPower (SPWR) is also down which last week ripped higher after it reported slightly better-than-expected earnings more than likely from the short holdings being squeezed.

Chinese solar manufacturers were trending down also after the report, JinkoSolar (JKS) and JA Solar (JASO) were both down.

Quote
JPM's Coster said Chinese feed-in tariff, or FIT, reductions are expected in the second half of the year. China's FIT program is similar to that of the U.S. Solar Tax Credit program, in that it provides economical incentives for solar panel project operators to have projects tapped into the grid.  Industry followers have speculated a solar panel demand pull-in ahead of this FIT cut, as project operators rush to complete projects and tap into the grid ahead of the cutoff, after which this demand should fall off. 

Source: Yahoo, The Street, CreditSuisse

More Earnings News

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Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit 

2
Continental Resources (CLR) reports Q4 earnings on Wednesday Feb 22, 2017 After Market Close in another busy week for U.S. shale companies with Carrizo Oil and Gas (CRZO) and Parsley Energy (PE) also reporting today. Over the past few weeks we have had fellow shale companies Oasis Petroleum $OAS , Concho Resources (CXO), Diamondback Energy (FANG), Devon Energy (DVN) and Pioneer Natural Resources (PXD) last week.  Expect news bytes on founder and CEO of Continental Resources Harold Hamm and US energy policy with his role as Donald Trump's top presidential campaign energy aide.

Continental Resources Consensus Forecast
Analysts expect a loss to narrow to 11 cents a share from 23 cents a year ago, with revenue seen up 5.4% to $581.1 million.
 
After the huge Permian acquisition by Exxon Mobil (XOM) shale drilling and merger activity has surged in the US lately.  Bakers Hughes reports we are back at drilling levels not seen since early 2015.

Continental Resources Announced Guidance Update January 25, 2017

CLR announced a 2017 capital expenditures budget of $1.95 billion, which is expected to accelerate production growth in second half 2017 to an exit rate of 250,000 to 260,000 barrels of oil equivalent (Boe) per day. Crude oil is projected to account for approximately 59% of total production by year end, compared with approximately 55% in the fourth quarter 2016.

Fourth quarter 2016 production averaged approximately 210,000 Boe per day, reflecting persistent severe weather in North Dakota since late November 2016. The Company expects production to range between 210,000 and 215,000 Boe per day through first half 2017, after which production is expected to significantly accelerate due to the timing of pad completions in the Bakken and six new multi-well density projects in the over-pressured oil window of Oklahoma's STACK play.

Full-year 2017 production is expected to average approximately 220,000 to 230,000 Boe per day, compared with approximately 217,000 Boe per day for 2016.

See Full Report Below

Since the Non-OPEC Countries Joined OPEC in a Global Oil Production Cut followed by the Donald Trump Election victory there has been a  run higher on oil stocks. This in turn has helped fuel the run in the FTSE 100, S&P 500 and Dow Jones Index to Record highs.

The rally has been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

More on Continental Resources
OPEC About to Get DUC'ed American Drilled but Uncompleted Oil Wells Awaken

Looking Back a Year ago

The story for oil majors a year ago wasn't pretty after the collapse of oil prices. These bottomed in February 2016 and we have seen a steady rise in both crude oil and natural gas prices.



What Analysts Think

Zacks Investment Research
Upgraded shares of Continental Resources from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $52.00 target price on the stock.

Quote
According to Zacks, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. “

Citigroup Inc.
Started coverage on Continental Resources in a report on Monday, October 31st. They issued a buy rating and a $62.00 target price for the company.

Jefferies Group LLC
Raised Continental Resources from an underperform rating to a buy rating and set a $60.00 price target on the stock in a research note on Tuesday, January 17th.

Scotiabank
Decreased their price target on Continental Resources from $16.50 to $16.00 and set an outperform rating on the stock in a research note on Friday, November 11th.

Fourth Quarter and Full-Year 2016 Earnings Conference Call

Continental plans to host a conference call to discuss fourth quarter and full-year 2016 results on Thursday, February 23, 2017 at 12:00 p.m. ET (11:00 a.m. CT). Those wishing to listen to the conference call may do so via the Company's website at www.CLR.com or by phone: Time and date: 12 p.m. ET, Thursday, February 23, 2017

Dial-in: 844-309-6572 Intl. dial-in: 484-747-6921

Conference ID: 26962968

Continental Resources is expected to face questions regarding shale production, debt levels and future plans.

Continental Resources, Inc. NYSE: CLR Closed Friday Feb 17 45.97 -0.04 (- 0.09%) and has a 52 Week Range of 17.08 - 60.30 on Avg. Volume 2,669,737

Market Cap 17.03B
Beta   1.57
PE Ratio (TTM) -30.01
EPS (TTM)   -1.53
Earnings Date   Feb 22, 2017

More Shale Earnings
Diamondback Energy (FANG) results Feb. 15
Whiting Petroleum (WLL) results Feb. 21.
Chesapeake Energy's (CHK) results Feb. 23
Cabot Oil & Gas (COG) results Feb. 24.
EOG Resources (EOG) results Feb. 28.

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Devon Energy $DVN Earnings Beat on EPS and Revenue
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Power Demand Losses see Heating and Cooling Company Watsco $WSO Miss Earnings.
Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
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Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
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ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
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American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
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Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

3
Breaking News / What to Expect From Oasis Petroleum $OAS Earnings This Week
« on: February 19, 2017, 05:03:00 PM »
Oasis Petroleum (OAS) reports Q4 earnings on Wednesday in another busy week for U.S. shale companies. Concho Resources (CXO), reported Tuesday and fellow shale companies Diamondback Energy (FANG), Devon Energy (DVN) and Pioneer Natural Resources (PXD) last week. After the huge Permian acquisition by Exxon Mobil (XOM) shale drilling and merger activity has surged in the US lately.  Bakers Hughes reports we are back at drilling levels not seen since early 2015. Investors will listen for Oasis's plans for future investment, revamps and output.

Oasis Petroleum Consensus Forecast
Analysts expect a 12-cent per-share loss vs. EPS of 5 cents a year ago. Revenue is seen rising 12.3% to $204.4 million.
 
Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.

Since the Non-OPEC Countries Joined OPEC in a Global Oil Production Cut followed by the Donald Trump Election victory there has been a  run higher on oil stocks. This in turn has helped fuel the run in the FTSE 100, S&P 500 and Dow Jones Index to Record highs.

The rally has been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

More on Oasis Petroleum (OAS)
OPEC About to Get DUC'ed American Drilled but Uncompleted Oil Wells Awaken

Looking Back a Year ago

The story for oil majors a year ago wasn't pretty after the collapse of oil prices. These bottomed in February 2016 and we have seen a steady rise in both crude oil and natural gas prices.



What Analysts Think
Macquarie
Upgraded from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. Macquarie has a $19.00 price objective on the stock, up from their previous price objective of $13.50.

Citigroup Inc.
Increased their price objective on Oasis Petroleum from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, September 12th.

Mizuho
Reissued a “buy” rating and issued a $17.00 price objective on shares of Oasis Petroleum in a research report on Tuesday, October 18th.

Conference Call

Oasis Petroleum (OAS) is expected to face questions regarding shale production, debt levels and future plans.

Oasis Petroleum Inc. NYSE: OAS Closed Friday Feb 17  13.93 -0.17 (1.21%) and has a 52 Week Range of 4.21 - 17.08 on Avg. Volume 9,043,159.

Market Cap 3.29B
Beta   2.34
PE Ratio (TTM) -12.36
EPS (TTM)   -1.13
Earnings Date   Feb 22, 2017

More Shale Earnings
Diamondback Energy (FANG) results Feb. 15
Whiting Petroleum (WLL) results Feb. 21.
Chesapeake Energy's (CHK) results Feb. 23
Cabot Oil & Gas (COG) results Feb. 24.
EOG Resources (EOG) results Feb. 28.

More Earnings News

Farming Icon Deere $DE Earnings Offer Solid Equipment Sales Guidance
Devon Energy $DVN Earnings Beat on EPS and Revenue
Diamondback Energy $FANG Earnings Beat EPS, Revenue
Power Demand Losses see Heating and Cooling Company Watsco $WSO Miss Earnings.
Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 


Live From The Pit

4
Concho Resources (CXO) reports Q4 earnings Tuesday starting off another busy week for U.S. shale companies. We have had fellow shale companies Diamondback Energy (FANG), Devon Energy (DVN) and Pioneer Natural Resources (PXD) last week. After the huge Permian acquisition by Exxon Mobil (XOM) drilling and merger activity has surged in the Permian lately.  Bakers Hughes reports we are back at drilling levels not seen since early 2015. Investors will listen for CXO's plans for future investment, revamps and output.

Concho Resources Consensus Forecast
Analysts expect a loss of 7 cents per share, the same as a year ago. Revenue is expected to rise 41% to $548.9 million. 
 
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s operations are focused in the Permian Basin of Southeast New Mexico and West Texas in the United States.

Since the Non-OPEC Countries Joined OPEC in a Global Oil Production Cut followed by the Donald Trump Election victory there has been a  run higher on oil stocks. This in turn has helped fuel the run in the FTSE 100, S&P 500 and Dow Jones Index to Record highs.

The rally has been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

More on Concho Resources
OPEC About to Get DUC'ed American Drilled but Uncompleted Oil Wells Awaken

Looking Back a Year ago

The story for oil majors a year ago wasn't pretty after the collapse of oil prices. These bottomed in February 2016 and we have seen a steady rise in both crude oil and natural gas prices.



What Analysts Think
RBC Capital Markets
Restated their buy rating in a research report sent to investors on Wednesday morning. RBC Capital Markets currently has a $165.00 price target.

A number of other analysts also recently commented on the company. Wells Fargo & Company downgraded Concho Resources from an outperform rating to a market perform rating in a research report on Friday, December 16th. Zacks Investment Research upgraded Concho Resources from a hold rating to a buy rating and set a $158.00 target price on the stock in a research report on Tuesday, December 13th. Seaport Global Securities upgraded Concho Resources from an accumulate rating to a buy rating in a research report on Friday, December 9th. Canaccord Genuity reiterated a hold rating and set a $135.00 target price on shares of Concho Resources in a research report on Monday, November 21st. Finally, KLR Group boosted their target price on Concho Resources from $157.00 to $172.00 and gave the stock an accumulate rating in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $143.00.


Conference Call

Concho Resources is expected to face questions regarding shale production, debt levels and future plans.

Concho Resources NYSE: CXO Clodsed Friday Feb 17 140.06 -0.13 (-0.09%) CXO has a 52 Week Range of    87.55 - 147.55 on Avg. Volume1,387,144

Market Cap 20.33B
Beta   1.06
PE Ratio (TTM) -13.65
EPS (TTM)   -10.26
Earnings Date   Feb 21, 2017

More Shale Earnings
Diamondback Energy (FANG) results Feb. 15
Whiting Petroleum (WLL) results Feb. 21.
Chesapeake Energy's (CHK) results Feb. 23
Cabot Oil & Gas (COG) results Feb. 24.
EOG Resources (EOG) results Feb. 28.

More Earnings News

Farming Icon Deere $DE Earnings Offer Solid Equipment Sales Guidance
Devon Energy $DVN Earnings Beat on EPS and Revenue
Diamondback Energy $FANG Earnings Beat EPS, Revenue
Power Demand Losses see Heating and Cooling Company Watsco $WSO Miss Earnings.
Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 


Live From The Pit

5
Tesla (TSLA) is out with Q4 earnings after the close Wednesday. Tesla had been on a tear until UBS issued a sell rating this week noting Tesla is facing increased competition in the electric-car market from Fiat, Nissan, General Motors (GM) and Ford (F). TSLA earnings releases and Elon Musk's conference calls leave much up to conjecture fueling stock price volatility. We break down what to look for in 7 key areas:

1. The P&L
2. Grid Batteries
3. Raising Cash
4. Autopilot Updates
5. SolarCity Plan
6. Missed Car Shipments
7. Model 3 Production
 

1. The P&L Analysts expect Tesla's adjusted per-share losses to narrow to 34 cents from $2.02 a year ago and revenue to jump 83% to $2.2 billion. Sales of Tesla cars and batteries for buildings and the power grid are growing.

2. Grid Batteries

Are sales of the Powerwall and Powerpack grid batteries growing substantially? Overtime sales of the batteries are expected to grow more rapidly than car sales.

3. Raising Cash

Tesla is burning through cash to try to deliver on increasingly aggressive goals. The question is will Tesla take to the public markets and raise even more money while the stockmarket is at ATH. Tesla raised $1.7 billion in an offering last May.

4. Autopilot Updates

During 2Q the world’s first known fatality in an autonomous car occurred in May when Tesla Model S with the Autopilot software engaged. Musk at the Gigafactory launch said Tesla “did the right thing” and “improved people’s safety, not just in fatalities but also injuries.”

5. SolarCity Plan

Musk has the sated goal of a  one-stop sustainable energy store. A combined SolarCity and Tesla would make and sell solar panels, batteries, and electric cars all under one roof. El Grando Musk has put a trillion dollars worth of the TSLA=SCTY merger. He expects $150 million in savings within the first year of the close of the deal.

The big risk here is SolarCity’s weak financials who lowered guidance for their annual solar installations for the year already due to weaker than expected bookings of home rooftop solar panels.

6. Missed Car Shipments

Investors have seemingly looked past its recently disclosed Q4 production numbers, which again fell short of estimates as they are transfixed on the Model 3 production.

When you consider all the risks, don't ignore Tesla saying they will aggressively produce 500,000 cars per year by 2018 and yet their one consistency is missing targets.

7. Model 3 Production/Reservations

Analysts expect a lot of Musk hyperbola with Model 3 production with announcement that production has started.  Tesla shut down its factory for a week to prepare for the new car at the start of February. Reuters reported that the Model 3 will begin production starting on Monday, President's Day. Tesla expects to start shipping its first Model 3 cars by the end of next year.

Live From The Pit

Past Tesla Earnings Reports
Tesla Q2 Earnings Solar City, Model 3, Model X & Gigafactory
More Worries For Tesla Shareholders After The SpaceX Explosion
Elon Musk Recognizes Tesla Must Cut Costs & Deliver Cars On Time

What Analysts Think

UBS analyst Colin Langan Sell Rating

A sell rating was reiterated on Tesla (TSLA) by UBS 2/16/2017. The note said they see no fundamental reason for the stock's big gains since late November at a time of increased risk from its SolarCity acquisition and Model 3 production goals.

Langan said Tesla faces multiple issues related to company performance, including "numerous risks" associated with the closure of its acquisition of solar power company SolarCity.

Quote
"We continue to believe SolarCity is an unneeded distraction during a very challenging launch period," Langan wrote

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Apple $AAPL earnings beat on higher revenue with record iPhone & services
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IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
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What to Expect From Netflix $NFLX Earnings This Week 
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Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
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Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 


Live From The Pit

6
Calls on Feb 24, 2017 Before Open
ARES MANAGEMENT  ARES    Before Open   N/A   0.35   N/A
BOISE CASCADE  BCC    Before Open   N/A   -0.05   N/A
CABOT OIL & GAS  COG    Before Open   N/A   0.01   N/A

CALUMET SPECLTY  CLMT    Before Open   N/A   -0.76   N/A
COCA-COLA FEMSA  KOF    Before Open   N/A   0.78   N/A
COMSTOCK RESOUR  CRK    Before Open   N/A   -1.37   N/A
DEL FRISCOS RST  DFRG    Before Open   N/A   0.33   N/A
DIGIRAD CORP  DRAD    Before Open   N/A   0.10   N/A
EAGLE POINT CRD  ECC    Before Open   N/A   0.58   N/A
 

EHEALTH INC  EHTH    Before Open   N/A   N/A   N/A
ENERPLUS CORP  ERF    Before Open   N/A   N/A   N/A
ENERPLUS CP-TS  ERF    Before Open   N/A   N/A   N/A
EW SCRIPPS CO  SSP    Before Open   N/A   0.44   N/A
FOOT LOCKER INC  FL    Before Open   N/A   1.30   N/A

HARSCO CORP  HSC    Before Open   N/A   0.09   N/A
HMS HLDGS CP  HMSY    Before Open   N/A   0.16   N/A
HUSKY ENERGY  HSE    Before Open   N/A   -0.05   N/A
INTL CONS AIRLN  ICAGY    Before Open   N/A   N/A   N/A
ISTAR FINL INC  STAR    Before Open   N/A   N/A   N/A
KBR INC  KBR    Before Open   N/A   0.17   N/A
MAGELLAN HLTH  MGLN    Before Open   N/A   1.37   N/A
MAGNA INTL A-TS  MG    Before Open   N/A   1.80   N/A
MAGNA INTL CL A  MGA    Before Open   N/A   1.35   N/A
MATERIALISE NV  MTLS    Before Open   N/A   0.02   N/A
PENNEY (JC) INC  JCP    Before Open   N/A   0.62   N/A
PHARMERICA CORP  PMC    Before Open   N/A   0.51   N/A
PHYSICIANS RLTY  DOC    Before Open   N/A   0.30   N/A
PINNACLE WEST  PNW    Before Open   N/A   0.49   N/A
PLUG POWER INC  PLUG    Before Open   N/A   -0.06   N/A
PUBLIC SV ENTRP  PEG    Before Open   N/A   0.52   N/A
RAIT FINL TRUST  RAS    Before Open   N/A   0.08   N/A
REALOGY HOLDING  RLGY    Before Open   N/A   0.22   N/A
ROWAN COS PLC  RDC    Before Open   N/A   -0.07   N/A
ROYAL BANK CDA  RY    Before Open   N/A   1.33   N/A

ROYAL BK CN-TS  RY    Before Open   N/A   1.75   N/A
ROYAL BK SC-ADR  RBS    Before Open   N/A   0.03   N/A
SOUTH JERSEY IN  SJI    Before Open   N/A   0.41   N/A
TRIVAGO NV ADS  TRVG    Before Open   N/A   0.02   N/A
VWR CORP  VWR    Before Open   N/A   0.44   N/A
AMADEUS IT HLDS  AMADY    N/A   N/A   N/A   N/A
STANDARD CHARTR  SCBFF    N/A   N/A   N/A   N/A

Live From The Pit

7
Calls on Feb 23, 2017 Before Open
AAON INC  AAON    Before Open   N/A   0.26   N/A
ABLYNX NV  ABLYF    Before Open   N/A   N/A   N/A
ACME UTD  ACU    Before Open   N/A   0.16   N/A
ALAMOS GOLD INC  AGI    Before Open   N/A   0.01   N/A
ALAMOS GOLD-TS  AGI    Before Open   N/A   0.04   N/A
ALTAGAS INC LTD  ALA    Before Open   N/A   0.32   N/A
AMC NETWORKS- A  AMCX    Before Open   N/A   1.29   N/A
ANSYS INC  ANSS    Before Open   N/A   0.90   N/A
APACHE CORP  APA    Before Open   N/A   0.09   N/A
ARCHROCK INC  AROC    Before Open   N/A   0.03   N/A
 

ARCHROCK PTNRS  APLP    Before Open   N/A   0.14   N/A
ATLAS AIR WORLD  AAWW    Before Open   N/A   2.23   N/A
BRADY CORP CL A  BRC    Before Open   N/A   0.34   N/A
BROADSOFT INC  BSFT    Before Open   N/A   0.39   N/A
BROADWIND ENRGY  BWEN    Before Open   N/A   0.03   N/A
CALFRAC WELL SV  CFW    Before Open   N/A   -0.32   N/A
CARRIZO OIL&GAS  CRZO    Before Open   N/A   0.32   N/A
CCL INDS B  CCL    Before Open   N/A   2.74   N/A
CDN IMPL BK  CM    Before Open   N/A   1.92   N/A
CDN IMPL BK-TS  CM    Before Open   N/A   2.55   N/A
CENTRICA PL-ADR  CPYYY    Before Open   N/A   N/A   N/A
CHART INDUSTRIE  GTLS    Before Open   N/A   0.11   N/A
CHATHAM LODGING  CLDT    Before Open   N/A   0.37   N/A
CHESAPEAKE ENGY  CHK    Before Open   N/A   0.07   N/A
CINEMARK HLDGS  CNK    Before Open   N/A   0.42   N/A

CIVEO CORP  CVEO    Before Open   N/A   N/A   N/A
CLEAR CHANL OUT  CCO    Before Open   N/A   0.05   N/A
CNOVA NV  CNV    Before Open   N/A   N/A   N/A
COGENT COMM HLD  CCOI    Before Open   N/A   0.12   N/A
COMMSCOPE HLDG  COMM    Before Open   N/A   0.54   N/A
COMMUNICTNS S&L  CSAL    Before Open   N/A   0.58   N/A
CONSOL COMM IL  CNSL    Before Open   N/A   0.17   N/A
COTT CORP QUE  COT    Before Open   N/A   -0.03   N/A
COTT CORP-TS  BCB    Before Open   N/A   N/A   N/A
CRESCENT PT EGY  CPG    Before Open   N/A   -0.09   N/A
CRESCENT PT-TS  CPG    Before Open   N/A   -0.08   N/A
DENBURY RES INC  DNR    Before Open   N/A   -0.02   N/A
DIALOG SEMICON  DLGNF    Before Open   N/A   0.82   N/A
DUPONT FABROS  DFT    Before Open   N/A   0.75   N/A
EL PASO ELEC CO  EE    Before Open   N/A   0.05   N/A
EMCOR GROUP INC  EME    Before Open   N/A   0.83   N/A

ENVIVA PARTNERS  EVA    Before Open   N/A   0.31   N/A
FELCOR LODGING  FCH    Before Open   N/A   0.15   N/A
FRANKS INTL NV  FI    Before Open   N/A   -0.14   N/A
GILDAN ACTIV-TS  GIL    Before Open   N/A   0.40   N/A
GILDAN ACTVWEAR  GIL    Before Open   N/A   0.30   N/A
H&E EQUIP SVCS  HEES    Before Open   N/A   0.30   N/A
HECLA MINING  HL    Before Open   N/A   0.05   N/A
HORMEL FOODS CP  HRL    Before Open   N/A   0.46   N/A
HOUGHTON MIFFLN  HMHC    Before Open   N/A   -0.71   N/A
IDACORP INC  IDA    Before Open   N/A   0.61   N/A
IHEARTMEDIA INC  IHRT    Before Open   N/A   N/A   N/A
INSMED INC  INSM    Before Open   N/A   -0.99   N/A
INTEGRA LIFESCI  IART    Before Open   N/A   0.52   N/A
INTERDIGITL INC  IDCC    Before Open   N/A   3.76   N/A
IRIDIUM COMMUN  IRDM    Before Open   N/A   0.21   N/A
IRON MOUNTAIN  IRM    Before Open   N/A   0.45   N/A
JAKKS PACIFIC  JAKK    Before Open   N/A   -0.71   N/A
KATE SPADE&CO  KATE    Before Open   N/A   0.35   N/A
KOHLS CORP  KSS    Before Open   N/A   1.33   N/A

KOPPERS HOLDNGS  KOP    Before Open   N/A   0.26   N/A
LANDMARK INFRAS  LMRK    Before Open   N/A   0.05   N/A
LAWSON PRODUCTS  LAWS    Before Open   N/A   -0.32   N/A
LEIDOS HOLDINGS  LDOS    Before Open   N/A   0.81   N/A
LENDINGTREE INC  TREE    Before Open   N/A   0.59   N/A
LEXINGTON PPTY  LXP    Before Open   N/A   0.24   N/A
LKQ CORP  LKQ    Before Open   N/A   0.39   N/A
LOBLAW COS LTD  L    Before Open   N/A   0.99   N/A
LSC COMMUNICTNS  LKSD    Before Open   N/A   N/A   N/A
MARCUS CORP  MCS    Before Open   N/A   0.25   N/A
MARRIOT VAC WW  VAC    Before Open   N/A   1.77   N/A
MILACRON HLDGS  MCRN    Before Open   N/A   0.35   N/A
MITEL NETWORKS  MITL    Before Open   N/A   0.05   N/A
MITEL NETWORKS  MNW    Before Open   N/A   N/A   N/A
NORTH ATL DRILG  NADL    Before Open   N/A   -2.42   N/A
NOVOCURE LTD  NVCR    Before Open   N/A   -0.40   N/A
OBALON THERPTCS  OBLN    Before Open   N/A   -0.33   N/A
OGE ENERGY CORP  OGE    Before Open   N/A   0.31   N/A
PATTERSON COS  PDCO    Before Open   N/A   0.57   N/A
PINNACLE FOODS  PF    Before Open   N/A   0.79   N/A
REDHILL BIO-ADR  RDHL    Before Open   N/A   -0.63   N/A
RELX NV  RENX    Before Open   N/A   N/A   N/A
RELX PLC  RELX    Before Open   N/A   N/A   N/A
RTI SURGICAL  RTIX    Before Open   N/A   0.00   N/A
SANDERSON FARMS  SAFM    Before Open   N/A   1.22   N/A
SEADRILL LTD  SDRL    Before Open   N/A   0.14   N/A
SEADRILL PTNRS  SDLP    Before Open   N/A   0.50   N/A

SHELL MIDSTREAM  SHLX    Before Open   N/A   0.36   N/A
SLATE RETL REIT  SRT    Before Open   N/A   0.44   N/A
SPARTAN MOTORS  SPAR    Before Open   N/A   0.02   N/A
SPROUTS FMR MKT  SFM    Before Open   N/A   0.13   N/A
STARWOOD PROPRT  STWD    Before Open   N/A   0.47   N/A
STEALTHGAS INC  GASS    Before Open   N/A   0.00   N/A
STORE CAPITAL  STOR    Before Open   N/A   0.40   N/A
SUMMER INFANT  SUMR    Before Open   N/A   0.02   N/A
SUN CMNTYS INC  SUI    Before Open   N/A   0.90   N/A
SUPERIOR UNIFRM  SGC    Before Open   N/A   0.26   N/A
SWISS RE LTD  SSREY    Before Open   N/A   N/A   N/A
SYNERGY RES CP  SYRG    Before Open   N/A   0.03   N/A
TEEKAY CORP  TK    Before Open   N/A   -0.08   N/A
TEEKAY LNG PTNR  TGP    Before Open   N/A   0.44   N/A
TEEKAY OFFSHORE  TOO    Before Open   N/A   0.12   N/A
TEEKAY TANKERS  TNK    Before Open   N/A   0.04   N/A
TELEFLEX INC  TFX    Before Open   N/A   2.08   N/A
TENNANT CO  TNC    Before Open   N/A   0.76   N/A
THERAPEUTICS MD  TXMD    Before Open   N/A   -0.12   N/A
TORO CO  TTC    Before Open   N/A   0.37   N/A
TRICON CAPITAL  TCN    Before Open   N/A   0.12   N/A
UNIT CORP  UNT    Before Open   N/A   0.07   N/A
VALE SA  VALE    Before Open   N/A   0.35   N/A
VEREIT INC  VER    Before Open   N/A   0.17   N/A
VISTEON CORP  VC    Before Open   N/A   1.35   N/A
WAYFAIR INC  W    Before Open   N/A   -0.71   N/A
ZEBRA TECH CL A  ZBRA    Before Open   N/A   1.61   N/A
AIA GROUP LTD  AAGIY    N/A   N/A   N/A   N/A
BARCLAY PLC-ADR  BCS    N/A   N/A   0.02   N/A
BRITISH AM TOB  BTI    N/A   N/A   N/A   N/A
CROMBIE REIT  CRR    N/A   N/A   0.30   N/A
DREAM OFF REIT  D    N/A   N/A   0.57   N/A
EDENRED  EDNMY    N/A   N/A   N/A   N/A
GAMESA CORP TEC  GCTAY    N/A   N/A   N/A   N/A
GLENCORE PLC  GLNCY    N/A   N/A   N/A   N/A
HOWDEN JOINERY  HWDJY    N/A   N/A   N/A   N/A
INNERGEX REN-TS  INE    N/A   N/A   0.02   N/A
INNERGEX RENWBL  INGXF    N/A   N/A   N/A   N/A
IPSEN SA ADR  IPSEY    N/A   N/A   N/A   N/A
LEONS FURNITURE  LNF    N/A   N/A   N/A   N/A
MONDI PLC UNS  MONDY    N/A   N/A   N/A   N/A
MTU AERO ENGINE  MTUAY    N/A   N/A   N/A   N/A
PROSIEBEN MEDIA  PBSFY    N/A   N/A   N/A   N/A
RENTOKIL IN PLC  RTOKY    N/A   N/A   N/A   N/A
REPSOL SA-ADR  REPYY    N/A   N/A   0.25   N/A
SANDRIDGE ENRGY  SDOCQ    N/A   N/A   N/A   N/A
SANDRIDGE ENRGY  SD    N/A   N/A   N/A   N/A
SERVICEMASTR GH  SERV    N/A   N/A   0.40   N/A
SIBANYE GLD-ADR  SBGL    N/A   N/A   N/A   N/A


Live From The Pit

8
Calls on Feb 22, 2017 Before Open
ACCO BRANDS CP  ACCO    Before Open   N/A   0.30   N/A
ARES CAP CP  ARCC    Before Open   N/A   0.39   N/A
AVISTA CORP  AVA    Before Open   N/A   0.60   N/A
BAYER A G -ADR  BAYRY    Before Open   N/A   1.37   N/A
CHICOS FAS INC  CHS    Before Open   N/A   0.04   N/A
CHINA YUCHAI  CYD    Before Open   N/A   N/A   N/A
CLEAN HARBORS  CLH    Before Open   N/A   0.09   N/A
CLUBCORP HLDGS  MYCC    Before Open   N/A   0.15   N/A
CONDUENT INC  CNDT    Before Open   N/A   0.22   N/A
CRITEO SA-ADR  CRTO    Before Open   N/A   0.57   N/A
 

DIAMONDROCK HOS  DRH    Before Open   N/A   0.23   N/A
DISH NETWORK CP  DISH    Before Open   N/A   0.66   N/A
ENTERCOM COMMUN  ETM    Before Open   N/A   0.22   N/A
ENZYMOTEC LTD  ENZY    Before Open   N/A   -0.01   N/A
FIRST MAJESTIC  AG    Before Open   N/A   0.04   N/A
FIRST MAJEST-TS  FR    Before Open   N/A   0.02   N/A
GARMIN LTD  GRMN    Before Open   N/A   0.58   N/A
GEO GRP INC/THE  GEO    Before Open   N/A   0.75   N/A
GOVT PPTYS INCM  GOV    Before Open   N/A   0.56   N/A
GREAT LAKES DRG  GLDD    Before Open   N/A   0.05   N/A
HOLLYFRONTIER  HFC    Before Open   N/A   -0.09   N/A
HOST HOTEL&RSRT  HST    Before Open   N/A   0.38   N/A
HSN INC  HSNI    Before Open   N/A   0.74   N/A
INDIVIOR PLC  INVVY    Before Open   N/A   N/A   N/A
JELD-WEN HOLDNG  JELD    Before Open   N/A   N/A   N/A
LAMAR ADVER CO  LAMR    Before Open   N/A   1.21   N/A
NATIONSTAR MTGE  NSM    Before Open   N/A   0.43   N/A
NAVIOS MARI HLD  NM    Before Open   N/A   -0.23   N/A
NEOGENOMICS INC  NEO    Before Open   N/A   0.01   N/A
NEW HOME CO LLC  NWHM    Before Open   N/A   0.65   N/A
NISOURCE INC  NI    Before Open   N/A   0.34   N/A
NORWEGIAN CRUIS  NCLH    Before Open   N/A   0.56   N/A
PINNACLE ENTRTN  PNK    Before Open   N/A   -0.07   N/A
SANCHEZ ENERGY  SN    Before Open   N/A   0.08   N/A
SCOR ADR  SCRYY    Before Open   N/A   N/A   N/A
SINCLAIR BROADC  SBGI    Before Open   N/A   1.36   N/A
SIX FLAGS ENTMT  SIX    Before Open   N/A   0.00   N/A
SOUTHERN CO  SO    Before Open   N/A   0.31   N/A
SPARK THERAPEUT  ONCE    Before Open   N/A   -1.13   N/A
STEPAN CO  SCL    Before Open   N/A   0.69   N/A
SUMMIT MATERLS  SUM    Before Open   N/A   0.23   N/A
TJX COS INC NEW  TJX    Before Open   N/A   1.00   N/A
TOLL BROTHERS  TOL    Before Open   N/A   0.35   N/A
TRI POINTE GRP  TPH    Before Open   N/A   0.37   N/A
ULTRA PETRO CP  UPLMQ    Before Open   N/A   0.72   N/A
UNIVAR INC  UNVR    Before Open   N/A   0.21   N/A
UTD THERAPEUTIC  UTHR    Before Open   N/A   3.62   N/A
WELLTOWER INC  HCN    Before Open   N/A   1.08   N/A
WILLIAM LYON HM  WLH    Before Open   N/A   0.66   N/A
WOLVERINE WORLD  WWW    Before Open   N/A   0.31   N/A
AIRBUS GROUP NV  EADSY    N/A   N/A   N/A   N/A
ATOS ORIGIN SA  AEXAY    N/A   N/A   N/A   N/A
BARRATT DEV PLC  BTDPY    N/A   N/A   N/A   N/A
DORMAN PRODUCTS  DORM    N/A   N/A   0.77   N/A
DREAM GLBL REIT  DRG    N/A   N/A   0.20   N/A
EATON VANCE  EV    N/A   N/A   0.58   N/A
FRESENIUS MED  FMS    N/A   N/A   0.61   N/A
FRESENIUS SE&CO  FSNUY    N/A   N/A   N/A   N/A
GERDAU SA ADR  GGB    N/A   N/A   N/A   N/A
GLANBIA PLC ADR  GLAPY    N/A   N/A   N/A   N/A
HIGH LINER FOOD  HLF    N/A   N/A   N/A   N/A
IBERDROLA SA-AD  IBDRY    N/A   N/A   N/A   N/A
PETROFAC LTD  POFCY    N/A   N/A   N/A   N/A
SAFETY INS GRP  SAFT    N/A   N/A   N/A   N/A
TELEF BRASIL SA  VIV    N/A   N/A   0.19   N/A
TREDEGAR CORP  TG    N/A   N/A   N/A   N/A
WEIR GROUP PLC  WEGRY    N/A   N/A   N/A   N/A
WOLTERS KLUWER  WTKWY    N/A   N/A   N/A   N/A


Live From The Pit

9
Calls on Feb 21, 2017 Before Open
ADVANCE AUTO PT  AAP    Before Open   N/A   1.09   N/A
AERCAP HLDGS NV  AER    Before Open   N/A   1.70   N/A
ALBANY MOL RSCH  AMRI    Before Open   N/A   0.48   N/A
ANGLOGOLD LTD  AU    Before Open   N/A   N/A   N/A
ASTEC INDS INC  ASTE    Before Open   N/A   0.54   N/A
ATA INC-ADR  ATAI    Before Open   N/A   N/A   N/A
AVANGRID INC  AGR    Before Open   N/A   0.63   N/A
CAPITAL POWER  CPX    Before Open   N/A   0.19   N/A
CHANGYOU.COM  CYOU    Before Open   N/A   0.61   N/A

 

COMP TASK  CTG    Before Open   N/A   0.05   N/A
COPPER MOUNTAIN  CUM    Before Open   N/A   0.01   N/A
CRACKER BARREL  CBRL    Before Open   N/A   2.13   N/A
CRESTWOOD EQTY  CEQP    Before Open   N/A   0.17   N/A
CYREN LTD  CYRN    Before Open   N/A   -0.03   N/A
DAKTRONICS INC  DAKT    Before Open   N/A   -0.10   N/A
ECOLAB INC  ECL    Before Open   N/A   1.28   N/A
EDUCATION RLTY  EDR    Before Open   N/A   0.56   N/A
ENABLE MIDSTRM  ENBL    Before Open   N/A   0.17   N/A
EROS INTL PLC  EROS    Before Open   N/A   0.14   N/A
EXACT SCIENCES  EXAS    Before Open   N/A   -0.39   N/A
EXACTECH INC  EXAC    Before Open   N/A   0.31   N/A
FRANKLIN ELEC  FELE    Before Open   N/A   0.38   N/A
FRESH DEL MONTE  FDP    Before Open   N/A   0.05   N/A
GALP ENERGIA SA  GLPEY    Before Open   N/A   0.06   N/A
GENTHERM INC  THRM    Before Open   N/A   0.57   N/A
GENUINE PARTS  GPC    Before Open   N/A   1.01   N/A
HENRY SCHEIN IN  HSIC    Before Open   N/A   1.84   N/A
HOLLY EGY PTNRS  HEP    Before Open   N/A   0.52   N/A
HOME DEPOT  HD    Before Open   N/A   1.33   N/A
INTERCONTL HTLS  IHG    Before Open   N/A   N/A   N/A
LUMBER LIQUIDAT  LL    Before Open   N/A   -0.29   N/A
MACYS INC  M    Before Open   N/A   1.97   N/A

MAGIC SOFTWARE  MGIC    Before Open   N/A   0.13   N/A
MCDERMOTT INTL  MDR    Before Open   N/A   -0.01   N/A
MEDIWOUND LTD  MDWD    Before Open   N/A   -0.24   N/A
MEDTRONIC  MDT    Before Open   N/A   1.11   N/A
MOMENTA PHARMA  MNTA    Before Open   N/A   -0.23   N/A
NEW MEDIA INV  NEWM    Before Open   N/A   0.47   N/A
NEW RESID INV  NRZ    Before Open   N/A   0.59   N/A
PGT INC  PGTI    Before Open   N/A   0.11   N/A
QUANTA SERVICES  PWR    Before Open   N/A   0.54   N/A
RICHMONT MINES  RIC    Before Open   N/A   0.06   N/A
RICHMONT MNE-TS  RIC    Before Open   N/A   0.08   N/A
RITCHIE BROS  RBA    Before Open   N/A   0.27   N/A
RITCHIE BROS-TS  RBA    Before Open   N/A   0.44   N/A
SCRIPPS NETWRKS  SNI    Before Open   N/A   1.05   N/A
SOHU.COM INC  SOHU    Before Open   N/A   -2.40   N/A
SONIC AUTOMOTVE  SAH    Before Open   N/A   0.62   N/A
SOTHERLY HOTELS  SOHO    Before Open   N/A   0.26   N/A
TRAVELPORT WWD  TVPT    Before Open   N/A   0.15   N/A
TREX COMPANY  TREX    Before Open   N/A   0.42   N/A
VALERITAS HLDGS  VLRX    Before Open   N/A   -0.76   N/A
VISHAY PRECISN  VPG    Before Open   N/A   0.23   N/A
WABTECH  WAB    Before Open   N/A   0.94   N/A
WAL-MART STORES  WMT    Before Open   N/A   1.30   N/A
WESTLAKE CHEM  WLK    Before Open   N/A   0.75   N/A
WESTLAKE CHEMCL  WLKP    Before Open   N/A   N/A   N/A
XCERRA CORP  XCRA    Before Open   N/A   -0.02   N/A
ANGLO AMER ADR  NGLOY    N/A   N/A   N/A   N/A
DREAM IND REIT  DIR    N/A   N/A   0.23   N/A
HSBC HOLDINGS  HSBC    N/A   N/A   N/A   N/A
KERRY GROUP PLC  KRYAY    N/A   N/A   N/A   N/A
MERIT MEDICAL  MMSI    N/A   N/A   0.28   N/A

Live From The Pit

10
Breaking News / US Earnings To Watch Feb 20 2017 $CRMT $CYH $HLX $ROG $VIPS
« on: February 17, 2017, 09:56:32 AM »
Calls on Feb 20, 2017 Before Open
AMERICAS CAR-MT  CRMT    After Market Close   N/A   0.69   N/A
COMMNTY HLTH SY  CYH    After Market Close   N/A   0.12   N/A

HELIX EGY SOLUT  HLX    After Market Close   N/A   -0.06   N/A
NORDSON CORP  NDSN    After Market Close   N/A   0.82   N/A
ROGERS CORP  ROG    After Market Close   N/A   0.87   N/A
UTD INSURANCE  UIHC    After Market Close   N/A   -0.43   N/A
VIPSHOP HOLDNGS  VIPS    After Market Close   N/A   0.17   N/A
ZHAOPIN ADR  ZPIN    After Market Close   N/A   N/A   N/A
HAMMERSON PLC  HMSNF    N/A   N/A   N/A   N/A
 



Live From The Pit

11
Tractor icon, farm and heavy equipment maker Deere & Co. (DE) reported another solid earnings in soft conditions before markets opened Friday. Their first-quarter fiscal 2017 results b The  posted diluted earnings per share (EPS) of $0.61 on revenues of $5.63 billion. Analyst estimates were EPS of $0.54 and $4.67 billion in revenues. In the same period a year ago, DE reported adjusted EPS of $0.80 on revenues of $5.53 billion.

DE 1Q17 net sales of the worldwide equipment operations declined 1%. Deere saw a decline of 8% in the United States and Canada, offset by an increase of 11% elsewhere and helped by a favorable currency exchange effect of 1%.

Reaction: Deere & Company (DE) NYSE 108.81-0.36 (-0.33%) at market open
 


Quote
Although the quarter’s sales and earnings were somewhat lower than last year, all of our businesses remained solidly profitable. Deere’s performance showed further benefits from the sound execution of its operating plans, the strength of a broad product portfolio and the impact of a more flexible cost structure. At the same time, we are seeing signs that after several years of steep declines key agricultural markets may be stabilizing.

Deere continues to perform far better than in agricultural downturns of the past, efforts to improve operating efficiency are gaining traction and we remain confident that we can deliver at least $500 million of structural cost reductions by the end of 2018. CEO Samuel R. Allen said

https://alphastreet.com/app#/home

Guidance

DE's equipment sales are expected to be up about 4% for FY17 and be up about 1% for 2Q17 vs. 2Q16. Foreign-currency rates are not expected to have a material translation effect on equipment sales for FY17 or 2Q17. Net sales and revenues are projected to increase about 4% for FY17 with net income attributable to $DE of about $1.5Bil.

Analysts have forecast fiscal year sales of $23.29 billion, from sales of $23.39 billion in 2016. For the year, analysts expect EPS of $4.52, compared with $4.81 last year.


Market Cap 34.69B
Beta   0.65
PE Ratio (TTM) 22.64
EPS (TTM)   4.81
Earnings Date Feb 17, 2017
Dividend & Yield 2.40 (2.20%)

Source: Yahoo Finance, Deere & co.


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Apple $AAPL earnings beat on higher revenue with record iPhone & services
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Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
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Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
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UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
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Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
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Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

12
Gold has seen a solid rally along with other commodities after the Trump victory and this should be reflected in mining profits. After the correction of the US dollar this year (which Yellen helped turnaround yesterday) we have seen further upward pressure. Today we get a look at three key gold miners earnings, including Barrick Gold one of the largest gold miners.

Barrick Gold (ABX): expected to report a 138% EPS gain to 19 cents. Revenue expected to see first rise in four years by 1% to $2.27 billion,
Kinross Gold (KGC) : expected to report a 1-cent EPS reversing a-earlier loss of 6 cents a share, with revenue up 19.5% to $843.63 million.
Goldcorp (GG): expected to report a 9 cents EPS, also reversing a year-earlier loss of 15 cents a share, as revenue falls 5% to $1.01 billion.
 




$GDX miners - Daily Candle Chart shows the 10DMa held via ‏@SaharasCharts



$GDX #miners -Wkly shows a warning 'Doji' type candle at the %Fib & res zone via ‏@SaharasCharts

Live From The Pit

13
Calls on Feb 17, 2017 Before Open
KONINKLIJKE VPK  VOPKY    N/A   N/A   N/A   N/A
WEST FRASER TBR  WFT    Before Open   N/A   1.06   N/A
WABCO HOLDINGS  WBC    Before Open   N/A   1.44   N/A
V F CORP  VFC    Before Open   N/A   0.98   N/A
SPECTRA ENERGY  SE    Before Open   N/A   0.33   N/A
SPECTRA EGY PTR  SEP    Before Open   N/A   0.80   N/A
SMUCKER JM  SJM    Before Open   N/A   2.00   N/A
SEGRO PLC REIT  SEGXF    Before Open   N/A   N/A   N/A
RUTHS HOSPITLTY  RUTH    Before Open   N/A   0.29   N/A
REWALK ROBOTICS  RWLK    Before Open   N/A   -0.42   N/A
 

PORTLAND GEN EL  POR    Before Open   N/A   0.64   N/A
PIONEER EGY SVC  PES    Before Open   N/A   -0.31   N/A
NATL HEALTH INV  NHI    Before Open   N/A   1.26   N/A
MOODYS CORP  MCO    Before Open   N/A   1.12   N/A
MONOTYPE IMAGNG  TYPE    Before Open   N/A   0.12   N/A
MATERION CORP  MTRN    Before Open   N/A   0.33   N/A
LIFEPOINT HOSP  LPNT    Before Open   N/A   1.07   N/A
IMMUNOGEN INC  IMGN    Before Open   N/A   -0.38   N/A
GOL LINHAS-ADR  GOL    Before Open   N/A   -0.12   N/A
GIBRALTAR INDUS  ROCK    Before Open   N/A   0.25   N/A
GASLOG LTD  GLOG    Before Open   N/A   0.05   N/A
FLUOR CORP-NEW  FLR    Before Open   N/A   0.78   N/A
FANNIE MAE  FNMA    Before Open   N/A   N/A   N/A
ESSILOR INTL SA  ESLOY    Before Open   N/A   N/A   N/A
ENBRIDGE INC-TS  ENB    Before Open   N/A   0.54   N/A
ENBRIDGE INC FD  ENF    Before Open   N/A   0.54   N/A
ENBRIDGE INC  ENB    Before Open   N/A   0.42   N/A

DONEGAL GRP -B  DGICB    Before Open   N/A   N/A   N/A
DONEGAL GRP -A  DGICA    Before Open   N/A   N/A   N/A
DENTSPLY SIRONA  XRAY    Before Open   N/A   0.65   N/A
DEERE & CO  DE    Before Open   N/A   0.51   N/A
COOPER TIRE  CTB    Before Open   N/A   0.93   N/A
CONTROLADORA VL  VLRS    Before Open   N/A   0.28   N/A
CAMPBELL SOUP  CPB    Before Open   N/A   0.88   N/A
BLOOMIN BRANDS  BLMN    Before Open   N/A   0.32   N/A
BEL FUSE INC-B  BELFB    Before Open   N/A   0.46   N/A
BEL FUSE INC-A  BELFA    Before Open   N/A   N/A   N/A
BARNES GRP  B    Before Open   N/A   0.64   N/A
ASTRONICS CORP  ATRO    Before Open   N/A   0.43   N/A
ASTRONICS B  ATROB    Before Open   N/A   N/A   N/A
AIR CANADA  AC    Before Open   N/A   0.02   N/A
AEGON N V  AEG    Before Open   N/A   N/A   N/A
AARONS INC  AAN    Before Open   N/A   0.45   N/A

Live From The Pit

14
Calls on Feb 16, 2017 Before Open
AGIOS PHARMACT  AGIO    Before Open   N/A   -1.55   N/A
AIR FRANCE-ADR  AFLYY    Before Open   N/A   N/A   N/A
ALEXION PHARMA  ALXN    Before Open   N/A   1.10   N/A
ALTISOURCE PORT  ASPS    Before Open   N/A   0.83   N/A
AMEREN CORP  AEE    Before Open   N/A   0.15   N/A
ARCADIS NV  ARCAY    Before Open   N/A   N/A   N/A
AVON PRODS INC  AVP    Before Open   N/A   0.09   N/A
BALDWIN&LYONS A  BWINA    Before Open   N/A   N/A   N/A
BALDWIN&LYONS B  BWINB    Before Open   N/A   N/A   N/A
 

BLUCORA INC  BCOR    Before Open   N/A   -0.27   N/A
BLUERCK RG REIT  BRG    Before Open   N/A   0.14   N/A
BOMBARDIER B  BBD.B    Before Open   N/A   -0.04   N/A
BOSTON PIZZA IF  BPF    Before Open   N/A   N/A   N/A
BRASKEM SA  BAK    Before Open   N/A   -2.10   N/A
BUILD-A-BEAR WK  BBW    Before Open   N/A   0.69   N/A
CABELAS INC  CAB    Before Open   N/A   1.23   N/A
CANAM GROUP-A  CAM    Before Open   N/A   0.23   N/A
CBIZ INC  CBZ    Before Open   N/A   -0.04   N/A
CHARTER COMM-A  CHTR    Before Open   N/A   1.06   N/A
CHORUS AVIATION  CHR    Before Open   N/A   0.20   N/A
CIRCOR INTL  CIR    Before Open   N/A   0.41   N/A
COCA-COLA HBC  CCHGY    Before Open   N/A   N/A   N/A
CONE MIDSTREAM  CNNX    Before Open   N/A   0.38   N/A
CONSTELLATN-TS  CSU    Before Open   N/A   7.45   N/A
COWEN GROUP INC  COWN    Before Open   N/A   N/A   N/A

CRA INTL INC  CRAI    Before Open   N/A   0.22   N/A
CVR ENERGY INC  CVI    Before Open   N/A   N/A   N/A
CVR PARTNERS LP  UAN    Before Open   N/A   0.03   N/A
CYS INVESTMENTS  CYS    Before Open   N/A   0.24   N/A
DEAN FOODS CO  DF    Before Open   N/A   0.41   N/A
DUKE ENERGY CP  DUK    Before Open   N/A   0.81   N/A
ENCANA CORP  ECA    Before Open   N/A   0.03   N/A

ENCANA CORP-TS  ECA    Before Open   N/A   0.03   N/A
ENDURANCE INTL  EIGI    Before Open   N/A   -0.29   N/A
EPAM SYSTEMS  EPAM    Before Open   N/A   0.55   N/A
EUROSEAS LTD  ESEA    Before Open   N/A   -0.13   N/A
FINNING INTL  FTT    Before Open   N/A   0.28   N/A
FORTIS INC  FTS    Before Open   N/A   0.36   N/A
FORTIS INC-TS  FTS    Before Open   N/A   0.55   N/A
GENESIS ENERGY  GEL    Before Open   N/A   0.31   N/A
GENOCEA BIOSCI  GNCA    Before Open   N/A   -0.47   N/A
GNC HOLDINGS  GNC    Before Open   N/A   0.37   N/A
HIMAX TECH-ADR  HIMX    Before Open   N/A   0.07   N/A
HUDSON PAC PPTY  HPP    Before Open   N/A   0.46   N/A
HUNTINGTON INGL  HII    Before Open   N/A   2.48   N/A
HYATT HOTELS CP  H    Before Open   N/A   0.24   N/A
ICON PLC  ICLR    Before Open   N/A   1.26   N/A
INDEP REALTY TR  IRT    Before Open   N/A   0.16   N/A
INDUS ALLIANCE  IAG    Before Open   N/A   1.17   N/A
LABORATORY CP  LH    Before Open   N/A   2.13   N/A
LIBERTY GLBL-A  LBTYA    Before Open   N/A   N/A   N/A
LIBERTY GLBL-B  LBTYB    Before Open   N/A   N/A   N/A
LIBERTY GLBL-C  LBTYK    Before Open   N/A   N/A   N/A
LIBERTY GLOBAL  LILAB    Before Open   N/A   N/A   N/A
LIBERTY LILAC A  LILA    Before Open   N/A   0.38   N/A
LIBERTY LILAC C  LILAK    Before Open   N/A   N/A   N/A
MAZOR ROBOTICS  MZOR    Before Open   N/A   -0.18   N/A
MGM GROWTH PPTY  MGP    Before Open   N/A   0.50   N/A
MGM RESORTS INT  MGM    Before Open   N/A   0.17   N/A

NAVIGANT CONSLT  NCI    Before Open   N/A   0.26   N/A
NICE LTD  NICE    Before Open   N/A   1.03   N/A
ON DECK CAPITAL  ONDK    Before Open   N/A   -0.23   N/A
PATRICK INDS  PATK    Before Open   N/A   N/A   N/A
PBF ENERGY INC  PBF    Before Open   N/A   -0.57   N/A
PBF LOGISTICS  PBFX    Before Open   N/A   0.54   N/A
PETROLEUM GEO  PGSVY    Before Open   N/A   N/A   N/A
PG&E CORP  PCG    Before Open   N/A   1.29   N/A
POOL CORP  POOL    Before Open   N/A   0.05   N/A
RELIANCE STEEL  RS    Before Open   N/A   0.75   N/A
RIOCAN REIT  REI    Before Open   N/A   0.40   N/A
SCANA CORP  SCG    Before Open   N/A   0.93   N/A
SCHNEIDER ELECT  SBGSY    Before Open   N/A   N/A   N/A
SELECT INCOME  SIR    Before Open   N/A   0.71   N/A
STILLWATER MNG  SWC    Before Open   N/A   0.06   N/A
STRAYER EDUC  STRA    Before Open   N/A   1.16   N/A
SYNTEL INC  SYNT    Before Open   N/A   0.55   N/A
TEMPUR SEALY  TPX    Before Open   N/A   1.13   N/A
TEXTAINER GROUP  TGH    Before Open   N/A   -0.37   N/A
TIME INC  TIME    Before Open   N/A   0.76   N/A
TRADE DESK INC  TTD    Before Open   N/A   0.20   N/A
UNITED FIRE GRP  UFCS    Before Open   N/A   N/A   N/A
WASTE MGMT-NEW  WM    Before Open   N/A   0.77   N/A
WENDYS CO/THE  WEN    Before Open   N/A   0.09   N/A
WEST PHARM SVC  WST    Before Open   N/A   0.55   N/A
YANDEX NV-A  YNDX    Before Open   N/A   N/A   N/A
ZOETIS INC  ZTS    Before Open   N/A   0.45   N/A
CAPGEMINI SA  CGEMY    N/A   N/A   N/A   N/A
CENOVUS EGY-TS  CVE    N/A   N/A   -0.08   N/A
CENOVUS ENERGY  CVE    N/A   N/A   -0.05   N/A
CVR REFINING LP  CVRR    N/A   N/A   -0.09   N/A
GOLD FIELDS-ADR  GFI    N/A   N/A   N/A   N/A
INTER PIPLN LTD  IPL    N/A   N/A   0.41   N/A
NESTLE S A REG  NSRGY    N/A   N/A   N/A   N/A
SHIRE PLC-ADR  SHPG    N/A   N/A   3.25   N/A
SPARK NEW ZEALD  SPKKY    N/A   N/A   N/A   N/A
TELSTRA CRP-ADR  TLSYY    N/A   N/A   N/A   N/A
TRANSCDA CORP  TRP    N/A   N/A   0.73   N/A
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WESTERN FOREST  WEF    N/A   N/A   0.06   N/A

Live From The Pit

15
Breaking News / OPEC Monthly Oil Market Report February 2017
« on: February 14, 2017, 03:55:13 PM »
The OPEC Monthly Oil Market Report (MOMR) for February released Monday provides OPEC's outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.

MOMR Oil market highlights
- World oil demand growth in 2016 expected to increase by 1.32 mb/d, following upward adjustment of 70 tb/d to reflect continued better-than-expected consumption in OECD Europe and Asia Pacific. In 2017, world oil demand growth seen to reach 1.19 mb/d, representing upward revision of 35 tb/d to now average 95.81 mb/d.
- Non-OPEC oil supply growth in 2016 revised up by 50 tb/d to now show a contraction of 0.66 mb/d on higher-than-expected output in 4Q16. In 2017, non-OPEC supply growth has been revised up by 120 tb/d to show increase of 240 tb/d, due to a pick up in drilling activities and investment in US.
- In January, OPEC production decreased by 890 tb/d, according to secondary sources, to average 32.14 mb/d.
 

OPEC Monthly Oil Market Report January 2017

Oil market highlights

Crude Oil Price Movements
The OPEC Reference Basket averaged $52.40/b in January, representing a gain of 73¢ over the previous month. NYMEX WTI and ICE Brent also saw gains, increasing by 44¢ and 53¢ to average $52.61/b and $55.45/b, respectively. Production adjustments by OPEC and some non-OPEC producers supported the market, although gains were capped by increased drilling activity in the US. The Brent-WTI spread widened slightly to average $2.84/b in January.

World Economy
Global economic growth expectations remain at 3.0% in 2016 and 3.2% in 2017. OECD growth in 2017 was revised up to 1.9%, following upward adjustments in the Euro-zone and UK. US economic growth remains unchanged at 2.2%. Forecasts for China and India in 2017 also remain unchanged at 6.2% and 7.1%, respectively. Russia’s 2017 growth was revised up to 1.0%, while Brazil’s growth forecast remains unchanged at 0.4%.

World Oil Demand
World oil demand growth in 2016 is expected to increase by 1.32 mb/d, following an upward adjustment of 70 tb/d to reflect continued better-than-expected consumption in OECD Europe and Asia Pacific. Total oil demand is now estimated to average 94.62 mb/d, taking into account base line adjustments to China of around 0.12 mb/d. In 2017, world oil demand growth is seen to reach 1.19 mb/d, representing an upward revision of 35 tb/d to now average 95.81 mb/d.

World Oil Supply
Non-OPEC oil supply growth in 2016 has been revised up by 50 tb/d to now show a contraction of 0.66 mb/d on higher-than-expected output in 4Q16. In 2017, non-OPEC supply growth has been revised up by 120 tb/d to now show an increase of 240 tb/d, due to a pick up in drilling activities and investment in the US. OPEC NGL production is forecast to grow by 0.15 mb/d in 2017, following growth of 0.15 mb/d in 2016. In January, OPEC production decreased by 890 tb/d, according to secondary sources, to average 32.14 mb/d.


Product Markets and Refining Operations
Product markets in the Atlantic Basin received support in January from the top of the barrel on the back of higher export opportunities in gasoline and naphtha. This, along with the positive performance at the bottom of the barrel, allowed refinery margins to remain healthy. Meanwhile, margins in Asia strengthened on the back of firm regional demand.

Tanker Market
Spot freight rates continued to recover in January, showing general m-o-m improvements across all tanker sectors. Gains were mainly driven by a firmer market in West Africa, the Middle East and the Mediterranean, along with delays due to congestion in the Turkish Straits and severe weather conditions. Freight rates rose in January, despite a general decline in chartering activity.

Stock Movements
Total OECD commercial oil stocks fell in December 2016 to stand at 2,999 mb. At this level, OECD commercial oil stocks are 299 mb above the five-year average. Crude and products showed surpluses of around 216 mb and 83 mb, respectively. In terms of forward cover, OECD commercial stocks stood at 63.9 days, some 5.5 days higher than the five-year average.

Balance of Supply and Demand
Demand for OPEC crude in 2016 averaged 31.3 mb/d, an increase of 1.8 mb/d over the previous year. In 2017, demand for OPEC crude is projected to average 32.1 mb/d, around 0.8 mb/d higher than last year.

Complete Report
OPEC News Release 13 February 2017 .

More Energy News
Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Anadarko $APC Earnings Misses, Beats on Revenue
Positive Energy Correlation with Mexico, Texas and Canada
Australia LNG Exports Surge to Hit $1.9 Billion Record
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Chevron $CVX Earnings Disappoint, Downstream down 65%
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
Weekly EIA Natural Gas Storage -119 Bcf #TCNG
Shale Fracking Firm Keane Group's $FRAC First IPO in 2017
Japan Ties Up 25 Year Extension on Abu Dhabi Oil Concessions
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
Commodities Position Limits Mandate Scrapped by US House
Another Milestone for Iran Oil, Vitol does $1 Bln Pre-Finance Deal
Which Company Will Russia Oil Production Cuts Come From?

Further Crude Oil Analysis
#OOTTNews .

Live From The Pit

16
The loss of power demand we have seen in the US in 2016 highlighted by natural gas prices is highlighted in air conditioning, heating and refrigeration firm Watsco Inc. (WSO) fourth-quarter earnings. The company reported a profit of $26.5 million or EPS of 81 cents on posted revenue of $913.6 million this Tuesday.

The numbers were short of analysts  expectations for earnings of 87 EPS and $951 million revenue. For the year, the company reported profit of $168 million, or $5.15 per share. Revenue was reported as $4.22 billion.

Reaction: Watsco, Inc. NYSE (WSO) 151.14 -5.28 (-3.38%) at 12:48PM EST. Watsco shares has risen almost 6% percent in 2017, +28% in last 12 months.
 
Watsco gets two-thirds of its revenue from sales of HVAC equipment, and that segment posted sales gains of only 2%. The other HVAC products segment suffered a 1% drop in its top line. On the commercial front, refrigeration products enjoyed a 3% rise in sales, continuing to slow from faster growth rates earlier in 2016.


https://alphastreet.com/app#/company/WSO

Gross profit margin rose to 25%, rising almost half a percentage point. Operating margin from 6% for the year-ago period to 6.4% for the fourth quarter of 2016 was instrumental in producing greater profit from flat sales.

Watsco, Inc. and its subsidiaries operate as a distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. WSO serves approximately 50,000 contractors and dealers that service the replacement and new construction markets

WSO said that it has raised its ownership stake in Carrier Enterprise Northeast LLC, a JV with Carrier, to 80% for approx. $43MM in cash. This incremental investment builds on a transaction completed in Nov. 2016, which increased the company's controlling interest from 60% to 70%.

Guidance

Quote
Watsco CEO Albert Nahmad said fourth quarter isn't traditionally the best for the company's business prospects. "Watsco delivered record performance during the fourth quarter, reflecting mid-single-digit growth in most markets, offset by unfavorable seasonal conditions in certain regions and a decline in international locations."

During 2016, Watsco tripled the number of weekly active users of its e-commerce app, leading to online transactions more than doubling from 2015 levels.

Supply chain and warehouse optimization is helping it reduce costs and speed up inventory turns to make the company more efficient.

With sales of $500 million in 2016, the Carrier Enterprise Northeast joint venture has been a useful driver of growth for Watsco, and the company clearly sees more opportunity from the venture going forward.

More Earnings News

Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

17
Breaking News / What to Expect From Devon Energy $DVN Earnings This Week
« on: February 13, 2017, 09:49:53 AM »
Devon Energy (DVN) joins fellow shale company Diamondback Energy (FANG) reporting Q4 earnings Tuesday. These reports follow Pioneer Natural Resources (PXD) Q4 earnings last week. After the huge Permian acquisition by Exxon Mobil (XOM) drilling and merger activity has surged in the Permian lately. So much so Bakers Hughes reports we are back at drilling levels not seen since early 2015. Investors will listen for Devon's plans for future investment, revamps and output.

Devon Energy Consensus Forecast
Analysts project a huge fall in EPS 73% to 21 cents and revenue down 1.8% to $2.8 billion.
 
Since the Non-OPEC Countries Joined OPEC in a Global Oil Production Cut followed by the Donald Trump Election victory there has been a  run higher on oil stocks. This in turn has helped fuel the run in the FTSE 100, S&P 500 and Dow Jones Index to Record highs.

The rally has been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

More on Devon Energy
OPEC About to Get DUC'ed American Drilled but Uncompleted Oil Wells Awaken

Looking Back a Year ago

The story for oil majors a year ago wasn't pretty after the collapse of oil prices. These bottomed in February 2016 and we have seen a steady rise in both crude oil and natural gas prices.



What Analysts Think


http://traderscommunity.com/forum/index.php?topic=649.msg4621#msg4621



Conference Call

Devon Energy is expected to face questions regarding shale production, debt levels and future plans.

Devon Energy   NYSE: DVN 45.13 -0.28 (-0.62%) at market open Monday with 52-week trading range of 18.07 - 50.69 on Avg. Volume 4,461,227

Market Cap 23.62B
Beta   2.61
PE Ratio (TTM)   -2.65
EPS (TTM)   -17.04
Earnings Date   Feb 14, 2017
Dividend & Yield 0.24 (0.54%)

More Shale Earnings
Diamondback Energy (FANG) results Feb. 15
Whiting Petroleum (WLL) results Feb. 21.
Chesapeake Energy's (CHK) results Feb. 23
Cabot Oil & Gas (COG) results Feb. 24.
EOG Resources (EOG) results Feb. 28.

More Earnings News

What to Expect From Diamondback Energy $FANG Earnings (Rea
National Oilwell Varco $NOV Reports Lower Loss, High Hopes For Permian
Permian Producer Pioneer Natural Resources PXD Gives us Look at Shale
BP Misses Earnings Targets, DeepWater Horizon Weighs
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

18
Investors get more insight into the U.S. shale industry when Diamondback Energy (FANG) and Devon Energy (DVN) report Tuesday. These follow Pioneer Natural Resources (PXD) Q4 earnings last week. Following the huge Permian acquisition by Exxon Mobil (XOM) drilling and merger activity has surged in the Permian lately. So much so Bakers Hughes reports we are back at drilling levels not seen since early 2015. Investors will listen for DiamondBack's plans for future investment, revamps and output.

Diamondback Energy Consensus Forecast
Analysts project Diamondback's EPS falling 8.6% to 53 cents but revenue jumping 46.5% to $167.5 million.
 
Since the Non-OPEC Countries Joined OPEC in a Global Oil Production Cut followed by the Donald Trump Election victory there has been a  run higher on oil stocks. This in turn has helped fuel the run in the FTSE 100, S&P 500 and Dow Jones Index to Record highs.

The rally has been fueled by expectations for easier regulations including a possible repeal of DoddFrank and infrastructure spending. The Federal Reserve decision to raise rates has also helped banks.  The new surge in home prices has also buoyed optimism for the mortgage business and banks profits thereto.

More on Diamondback Energy
OPEC About to Get DUC'ed American Drilled but Uncompleted Oil Wells Awaken

Looking Back a Year ago

The story for oil majors a year ago wasn't pretty after the collapse of oil prices. These bottomed in February 2016 and we have seen a steady rise in both crude oil and natural gas prices.



What Analysts Think


http://traderscommunity.com/forum/index.php?topic=649.msg4621#msg4621



Conference Call

Diamondback Energy is expected to face questions regarding shale production, debt levels and future plans.

Diamondback Energy, NADAQ (FANG) 103.53-0.40 (-0.38%) at market open Monday with 52-week trading range of 66.23 - 113.23 with Avg. Volume 1,498,904.

Market Cap 9.35B
Beta   0.70
PE Ratio (TTM)   -19.65
EPS (TTM)   -5.28
Earnings Date   Feb 14, 2017

More Shale Earnings
Devon Energy (DVN) results Feb. 15
Whiting Petroleum (WLL) results Feb. 21.
Chesapeake Energy's (CHK) results Feb. 23
Cabot Oil & Gas (COG) results Feb. 24.
EOG Resources (EOG) results Feb. 28.

More Earnings News

What to Expect From BP PLC $BP Earnings This Week
What to Expect From Diamond Offshore Drilling $DO Earnings This Week
Atwood Oceanics $ATW Misses on Earnings, Slight Beat on Revenue
Phillips 66 PSX Misses Earnings on Falling Refinery Margins
Amazon Earnings Miss On Revenue & Guidance, $AMZN down $40
Weatherford $WFT Reports Smaller Loss, Up 5% on Improved Liquidity
Valero $VLO Earnings Beat Estimates
Marathon Petroleum $MPC Beats on Earnings, Accelerates Speedway Review
Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
IBM Earnings Give Strong Guidance But Global & Systems Segments Hurting
American Express AXP Misses CostCo as Earnings Fall But Talks Up 2017
Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
Morgan Stanley $MS Earnings Beat on Revenue and Profit
What to Expect From Netflix $NFLX Earnings This Week 
JPMorgan Chase $JPM Earnings Beats on Trading Income Rise
Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
Bank of America $BAC Earnings Beats EPS, Misses Revenue
Wells Fargo $WFC Earnings Lower, Loan Growth Affected by Reverse Mortgages
Delta Airlines Upbeat on Outlook But Cautions on Rising Fuel Costs
Homebuilder KB Home $KBH Reports Strong Revenue and Orders
MSC Industrial Direct $MSM Shares up 6% After Earnings Guidance
Money in Spuds, ConAgra Potato Spinoff Lamb Weston $LW Earnings Beat
Iconic WD-40 $WDFC Earnings Miss Expectations, Shares Slip 6 percent 

Live From The Pit

19
Calls on Feb 15, 2017 Before Open
AKZO NOBEL NV  AKZOY    Before Open   N/A   N/A   N/A
ALCOBRA LTD  ADHD    Before Open   N/A   -0.25   N/A
ALKERMES INC  ALKS    Before Open   N/A   -0.19   N/A
ALLETE INC  ALE    Before Open   N/A   0.73   N/A
ANALOG DEVICES  ADI    Before Open   N/A   0.74   N/A
ANGIES LIST INC  ANGI    Before Open   N/A   0.03   N/A

BUNGE LTD  BG    Before Open   N/A   1.60   N/A
CEDAR FAIR  FUN    Before Open   N/A   0.06   N/A
CERAGON NETWRKS  CRNT    Before Open   N/A   0.05   N/A
 

CINCINNATI BELL  CBB    Before Open   N/A   0.03   N/A
COLLIERS INT GP  CIGI    Before Open   N/A   N/A   N/A
COLLIERS INT-TS  CIG    Before Open   N/A   1.47   N/A
COMPUGEN LTD  CGEN    Before Open   N/A   -0.18   N/A
CONIFEX TIMBER  CFF    Before Open   N/A   0.33   N/A
CREDIT AGRICOLE  CRARY    Before Open   N/A   N/A   N/A
CROWN CRAFTS  CRWS    Before Open   N/A   0.13   N/A

DANONE-ADR  DANOY    Before Open   N/A   N/A   N/A
DYNEX CAP INC  DX    Before Open   N/A   N/A   N/A
ENTERGY CORP  ETR    Before Open   N/A   0.11   N/A
GROUPON INC  GRPN    Before Open   N/A   -0.02   N/A
HEINEKEN NV  HEINY    Before Open   N/A   N/A   N/A

HILTON WW HLDG  HLT    Before Open   N/A   0.65   N/A
HUNTSMAN CORP  HUN    Before Open   N/A   0.25   N/A
LITHIA MOTORS  LAD    Before Open   N/A   1.87   N/A
MANITOWOC FOODS  MFS    Before Open   N/A   0.17   N/A
MARINE HARV-ADR  MHG    Before Open   N/A   N/A   N/A
NOW INC  DNOW    Before Open   N/A   -0.36   N/A
OCH-ZIFF CAPTL  OZM    Before Open   N/A   0.01   N/A
PEPSICO INC  PEP    Before Open   N/A   1.16   N/A
PHOTRONICS INC  PLAB    Before Open   N/A   0.04   N/A
SHOPIFY INC  SHOP    Before Open   N/A   -0.12   N/A
SODASTREAM INTL  SODA    Before Open   N/A   0.31   N/A
SONUS NETWORKS  SONS    Before Open   N/A   -0.05   N/A

SYNERON MED LTD  ELOS    Before Open   N/A   0.03   N/A
TARGA RESOURCES  TRGP    Before Open   N/A   0.00   N/A
TECK RESOURCES  TECK    Before Open   N/A   1.43   N/A
TECK RESOURC-TS  TCK    Before Open   N/A   1.65   N/A
US FOODS HLDG  USFD    Before Open   N/A   0.48   N/A
WIX.COM LTD  WIX    Before Open   N/A   -0.16   N/A
WYNDHAM WORLDWD  WYN    Before Open   N/A   1.30   N/A
AGEAS-ADR  AGESY    N/A   N/A   N/A   N/A
AIR LIQUIDE-ADR  AIQUY    N/A   N/A   N/A   N/A
BANCO MACRO-ADR  BMA    N/A   N/A   1.62   N/A
CONS PORTFOLIO  CPSS    N/A   N/A   0.22   N/A
DEUTSCHE BOERSE  DBOEY    N/A   N/A   N/A   N/A
KNOT OFFSHOR LP  KNOP    N/A   N/A   0.44   N/A

Live From The Pit

20
Calls on Feb 14, 2017 Before Open
ACORDA THERAPT  ACOR    Before Open   N/A   -0.18   N/A
ADDVANTAGE TECH  AEY    Before Open   N/A   N/A   N/A
AIRCASTLE LTD  AYR    Before Open   N/A   0.48   N/A
ALEXANDERS INC  ALX    Before Open   N/A   N/A   N/A
ALLIANCEBERNSTN  AB    Before Open   N/A   0.48   N/A
AMAG PHARMA INC  AMAG    Before Open   N/A   0.24   N/A
AMER POWER GRP  APGI    Before Open   N/A   N/A   N/A
AU OPTRONCS-ADR  AUO    Before Open   N/A   N/A   N/A
BRIXMOR PPTY GP  BRX    Before Open   N/A   0.51   N/A
 

CAE INC  CAE    Before Open   N/A   0.17   N/A
CAE INC-TS  CAE    Before Open   N/A   0.23   N/A
CAPELLA EDUCATN  CPLA    Before Open   N/A   0.95   N/A
CHARLES RVR LAB  CRL    Before Open   N/A   1.11   N/A
CREDIT SUISSE  CS    Before Open   N/A   N/A   N/A
DCP MIDSTREAM  DCP    Before Open   N/A   0.49   N/A
DIANA SHIPPING  DSX    Before Open   N/A   -0.40   N/A
DIEBOLD INC  DBD    Before Open   N/A   0.33   N/A
DISCOVERY COM-A  DISCA    Before Open   N/A   0.51   N/A
DISCOVERY COM-B  DISCB    Before Open   N/A   0.50   N/A
DISCOVERY COM-C  DISCK    Before Open   N/A   0.47   N/A
DR PEPPER SNAPL  DPS    Before Open   N/A   1.06   N/A

FRONTEO INC  FTEO    Before Open   N/A   N/A   N/A
GENERAC HOLDING  GNRC    Before Open   N/A   1.03   N/A
GILAT SATELLITE  GILT    Before Open   N/A   N/A   N/A
H2O INNOVATION  HEO    Before Open   N/A   0.00   N/A
H2O INNOVATION  HEOFF    Before Open   N/A   -0.01   N/A
INCYTE CORP  INCY    Before Open   N/A   0.14   N/A
IPG PHOTONICS  IPGP    Before Open   N/A   1.40   N/A
ITT INC  ITT    Before Open   N/A   0.42   N/A
LINCOLN ELECTRC  LECO    Before Open   N/A   0.81   N/A
MARTIN MRT-MATL  MLM    Before Open   N/A   1.65   N/A
MERUS LABS INTL  MSLI    Before Open   N/A   -0.01   N/A
MERUS LABS-TS  MSL    Before Open   N/A   -0.03   N/A
MICHELIN COMP G  MGDDY    Before Open   N/A   N/A   N/A
MOLSON COORS-B  TAP    Before Open   N/A   0.88   N/A
MONEY ON MOBILE  MOMT    Before Open   N/A   N/A   N/A
MONEYGRAM INTL  MGI    Before Open   N/A   0.17   N/A
NAVIOS MARIT LP  NMM    Before Open   N/A   0.00   N/A
NETSOL TECH INC  NTWK    Before Open   N/A   0.03   N/A
NEWSTAR FIN INC  NEWS    Before Open   N/A   0.12   N/A
NOBLE ENERGY  NBL    Before Open   N/A   -0.09   N/A
NOVA MEASURING  NVMI    Before Open   N/A   0.37   N/A
QUINTILES TRANS  Q    Before Open   N/A   1.06   N/A
RADCOM LTD  RDCM    Before Open   N/A   0.03   N/A
RETAILMENOT INC  SALE    Before Open   N/A   0.24   N/A
ROLLS ROYCE PLC  RYCEY    Before Open   N/A   N/A   N/A
SEQUANS COMM  SQNS    Before Open   N/A   -0.06   N/A
SINGING MACHINE  SMDM    Before Open   N/A   N/A   N/A
STATE AUTO FINL  STFC    Before Open   N/A   0.50   N/A
TILE SHOP HLDGS  TTS    Before Open   N/A   0.09   N/A
T-MOBILE US INC  TMUS    Before Open   N/A   0.29   N/A
TOWER INTL INC  TOWR    Before Open   N/A   0.96   N/A
TRANSUNION  TRU    Before Open   N/A   0.32   N/A
VEDANTA LTD  VEDL    Before Open   N/A   N/A   N/A
VONAGE HOLDINGS  VG    Before Open   N/A   0.05   N/A
WATSCO INC  WSO    Before Open   N/A   0.87   N/A
WATSCO INC-CL B  WSO.B    Before Open   N/A   N/A   N/A
XINYUAN REAL ES  XIN    Before Open   N/A   N/A   N/A
YELLOW PAGES-TS  Y    Before Open   N/A   0.42   N/A
AERO GROW INTL  AERO    N/A   N/A   N/A   N/A
MORGUARD NA REI  MRG    N/A   N/A   N/A   N/A
NOBLE MIDSTREAM  NBLX    N/A   N/A   0.76   N/A
RANDSTAD HOLDNG  RANJY    N/A   N/A   N/A   N/A
TOKIO MARINE HL  TKOMY    N/A   N/A   N/A   N/A
TUI AG ADR  TUIFY    N/A   N/A   N/A   N/A

Live From The Pit

21
Fed / Federal Reserve Yellen to Testify Humphrey Hawkins Monetary Policy
« on: February 11, 2017, 06:01:59 PM »
President Trump's and everyone else's favorite Federal Reserve Chairwoman Janet Yellen will be up testifying  "Humphrey-Hawkins" on Capitol Hill this week.
 
Tuesday at 10 a.m. ET - Humphrey-Hawkins semiannual testimony on monetary policy before the Senate Banking Committee
Wednesday at 10 a.m. ET -  Testimony continues before the House Financial Services Committee.

Investors will be listening for rate hikes, Trump administration and GOP's fiscal plans for spending and tax reforms.
 
Semiannual Monetary Policy testimony (formerly known as the Humphrey-Hawkins testimony)

The Chairman of the Board of Governors is called on to offer oral testimony about the report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services to the House of Representatives.

Monetary Policy Reports are mandated by the Humphrey-Hawkins Full Employment Act of 1978, which required the Federal Reserve to formally report on its activities to Congress. The Monetary Policy Reports were previously referred to as Humphrey-Hawkins reports.

The Monetary Policy Report is delivered twice a year, in February and July, and reports the basic state of the United States economy and its financial welfare. Each report contains two sections. The first section summarizes past policy decisions and their predicted economic impact. The second section focuses on recent financial and economic developments.

Next for the Fed


Minutes of last meeting on  February 22, 2017
Beige Book for the March 14-15, 2017 *
FOMC meeting March 1, 2017.
* Meeting associated with a Summary of Economic Projections and a press conference by the Chair.

Fed Schedule:
https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm


Live From The Pit

22
Expect a volatile weak in the Biotech and drugmakers this week with the annual Conference on Retroviruses and Opportunistic Infections (CROI) to run Monday to Friday in Seattle. CROI brings together top basic, translational, and clinical researchers from around the world to share the latest studies, important developments, and best research methods in the ongoing battle against HIV/AIDS and related infectious diseases.

Highlights
- Gilead Sciences (GILD) presents results of its phase 2 trial on HIV pill bictegravir. This drug is seen as the competitor to GlaxoSmithKline's (GSK) dolutegravir and with fewer side effects.
- GlaxoSmithKline's is introducing a new two-drug HIV treatment.
- Key conference sessions on HIV, hepatitis C, tuberculosis and inflammation.
 



CROI is a global model of collaborative science and the premier international venue for bridging basic and clinical investigation to clinical practice in the field of HIV and related viruses.

More Information
http://www.croiconference.org/about

Live From The Pit

23
Calls on Feb 13, 2017 Before Open
BANK OF NT BUTR  NTB    Before Open   N/A   0.55   N/A
CSW INDUSTRIALS  CSWI    Before Open   N/A   0.30   N/A
DHX MEDIA LTD  DHXM    Before Open   N/A   N/A   N/A
DHX MEDIA-TS  DHX    Before Open   N/A   0.04   N/A
DIANA CONTAINER  DCIX    Before Open   N/A   -0.77   N/A
FIRST DATA CORP  FDC    Before Open   N/A   0.30   N/A
HCP INC  HCP    Before Open   N/A   0.57   N/A
INSPERITY INC  NSP    Before Open   N/A   0.42   N/A
NATL RETAIL PPT  NNN    Before Open   N/A   0.59   N/A
ON SEMICON CORP  ON    Before Open   N/A   0.23   N/A
 

RESTAURANT BRND  QSR    Before Open   N/A   0.42   N/A
RESTAURNT BR-TS  QSR    Before Open   N/A   N/A   N/A
SCORPIO TANKERS  STNG    Before Open   N/A   -0.20   N/A
SNYDERS-LANCE  LNCE    Before Open   N/A   0.40   N/A
TOWER SEMICOND  TSEM    Before Open   N/A   0.47   N/A
USA COMPRESSION  USAC    Before Open   N/A   0.03   N/A
VERSUM MATERLS  VSM    Before Open   N/A   0.40   N/A
WEX INC  WEX    Before Open   N/A   1.17   N/A
KIRIN HLDGS CO  KNBWY    N/A   N/A   N/A   N/A
MINEBEA CO-ADR  MNBEY    N/A   N/A   N/A   N/A
RECKITT BENCKSR  RBGLY    N/A   N/A   N/A   N/A
RECRUIT HLDGS  RCRRF    N/A   N/A   N/A   N/A
STUDENT TRANSPT  STB    N/A   N/A   0.07   N/A
STUDENT TRAN-TS  STB    N/A   N/A   N/A   N/A
TEVA PHARM ADR  TEVA    N/A   N/A   1.32   N/A

Live From The Pit

24
Cliffs Natural Resources (CLF) stock soared over 15% after it blew away Q4 earnings and revenues estimates. CLF benefited from bountiful iron ore pellet sales. CLF U.S. iron ore pellet business Q4 sales volume rose 53% Y/Y to nearly 6.9M metric tons and it expects FY 2017 U.S. iron ore sales volume to gain 4.3% to 19M metric tons from 18.2M in 2016.

Earnings: Q4 EPS of $0.34 beats by $0.11, Adjusted EBITDA of $174 million. Revenue $754M (+58.4% Y/Y) beats by $78.76M. Fourth-quarter Net Income of $81 million and Earnings of $0.42 per diluted share from continuing operations. Full-year Net Income of $199 million and Earnings of $0.97 per diluted share from continuing operations. Full-year Adjusted EBITDA1 of $374 million.

Reaction: Cliffs Natural Resources NYSE: CLF  Feb 9, 11:32 AM EST 10.98 +1.46 (+15.34%)
 
Guidance

Outlook In 2017, Cliffs expects to generate $510 million of net income and $850 million of adjusted EBITDA1. This expectation is based on the assumption that iron ore and steel prices will average levels consistent with the full month of January throughout 2017. In future quarters, Cliffs anticipates continuing to update 2017 net income and adjusted EBITDA1 guidance.

Segment Outlook Consistent with the SEC's recent guidance on the presentation of non-GAAP financial measures, the Company will be taking a more robust approach to reconciling its non-GAAP measures. Cliffs will begin providing guidance for cost of goods sold and operating expense rate including freight and venture partner's cost reimbursements, which have offsetting amounts in revenue and have no impact on sales margin. In the 2017 outlook summary below, a reconciliation to cash costs of goods sold and operating expense rate2 is provided for Cliffs' two business segments, consistent with how guidance was previously shown.

CLF's total debt at year-end 2016 was $2.2B, vs. $2.7B at the end of 2015.

Prior to the release CLF had built a formative pennant and break, retest as you can see by this chart from Adam Struzynski ‏@astruzynski  on Feb 8 shooting star candle yesterday and price closed back inside the triangle set up



U.S. Iron Ore Outlook (Long Tons) As previously disclosed, for 2017, Cliffs expects full-year sales and production volumes of approximately 19 million long tons from its U.S. Iron Ore business. This compares to 18.2 million long tons of sales and 16.0 million long tons of production in 2016.

Cliffs' full-year 2017 U.S. Iron Ore cash cost of goods sold and operating expense2 expectation is $55 - $60 per long ton, which compares to $56 per long ton for the full-year 2016.

Asia Pacific Iron Ore Outlook (Metric Tons, F.O.B. the port) Cliffs' full-year 2017 Asia Pacific Iron Ore expected sales and production volume is approximately 11.5 million tons. The product mix is expected to contain 50 percent lump ore and 50 percent fines.

Based on a full-year average exchange rate of $0.75 U.S. Dollar to Australian Dollar, Cliffs' full-year 2017 cash cost of goods sold and operating expense2 expectation is $34 - $39 per metric ton, which compares to $34 per metric ton for the full-year 2016. The increase in range is attributable to higher expected royalties and increased mining and haulage costs as market conditions have allowed the operating footprint to expand.

Source: Cliffs Natural Resources
http://www.prnewswire.com/news-releases/cliffs-natural-resources-inc-reports-fourth-quarter-and-full-year-2016-results-300404721.html
 
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Live From The Pit

25
Oilfield equipment and services company National Oilwell Varco (NOV) reported a narrower-than-expected with aggressive cost reduction and improved efficiencies with selling, general, and administrative expenses cut $72 million or 19% from Q415.  Investors are hoping NOV will benefit from increasing activity in the oil patch, particularly Oklahoma's Anadarko Basin and West Texas' Permian Basin. Baker Hughes (BHI) reported 17 rigs came online last week, with

Earnings: Loss of 15 cents a share on revenue of $1.69 billion. Consensus by FactSet for a loss of 29 cents a share on revenue of $1.63 billion.  Q4 revenue was down 38% from the same quarter a year earlier.
Reaction: National-Oilwell Varco, #NYSE: NOV PreMarket: 39.73 +2.27 (+6.06%)
 

https://alphastreet.com/app#/company/NOV

Before adjusting for $706 million worth of one-time charges primarily associated with inventory charges, facility closures, and severance, NOV's fourth-quarter loss came to $714 million, or $1.90 a share.

National Oilwell Varco is expected to show losses for 2017 and analysts do not expect the company to return to profitability until 2018 as much of the oilfield services industry works to regain pricing ground.  NOV has a backlog of Capital equipment orders’ backlog for Rig Systems of $2,490 million as of Dec 31, 2016, including $115 million in new orders during the fourth quarter.

the Completion & Production Solutions segment reported a backlog of $818 million in capital equipment order as at the end of the fourth quarter. The figure decreased 16% from the year-ago quarter but increased 1% sequentially

Segments Report

Rig Systems: Revenues came in at $426 million, down 58% from the year-ago quarter. Moreover, the unit’s operating profit plunged 79% year over year to $40 million. Lower backlog and more projects nearing completion during the quarter dampened the results, which were partly offset by cost cuts.

Rig Aftermarket: The segment generated revenues of $339 million, down 40% from the year-ago period, while operating profit dropped 46% from the fourth quarter of 2015 to $75 million as spare parts' demand remained tepid due to weak market conditions.

Wellbore Technologies: The segment’s revenues fell 30% year over year to $531 million. Worse, the unit’s operating loss deteriorated from a year ago to $75 million amid intense pricing pressure in international markets.

Completion & Production Solutions: Revenues for the segment were recorded at $602 million, down 19% from $746 million in the year-ago quarter. The unit recorded operating profit of $17 million compared with $37 million in the corresponding period last year. The underperformance mainly stemmed from the negative impact of a challenging offshore market.

Source: National Oilwell Varco, Zachs
 
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Apple $AAPL earnings beat on higher revenue with record iPhone & services
Anadarko $APC Earnings Misses, Beats on Revenue
CONSOL Energy $CNX Earnings Miss, Loses $237 million on Hedges Shares down 8.5%
Exxon Mobil $XOM Earnings Miss on Dry Gas Impairment Charge
Royal Dutch Shell $RDS.A Weaker Earnings on Refining Margins, Production Higher
ConocoPhillips $COP First Revenue Gain Since 2014, Increased CapEX
Chevron $CVX Earnings Disappoint, Downstream down 65%
Busy Aerospace and Defense Earnings Out; $LMT $BA $RTN $NOC $TXT $GD
Aluminum Maker Alcoa $AA Miss on EPS But Higher Volume & Revenue
Halliburton $HAL Earnings Mixed as International Revenue Lower
McDonald's Earnings Beat on Strong International Sales
General Electric $GE Earnings Miss on Weak Oil & Gas Revenue
Schlumberger $SLB Earnings Show Strong MidEast & North America Activity
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Union Pacific Railways Shares Rally On Earnings & Optimistic Guidance
UnitedHealth $UNH Strong Optum Health Earnings, Less ObamaCare Exchange
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What to Expect From Netflix $NFLX Earnings This Week 
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Goldman Sachs $GS Earnings Jump On Mortgage Settlements & Trading
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Live From The Pit

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