May 19th, 2014 Morning WatchList

IntercontinentalExchange weakness creates buying opportunity, says Argus

Argus expects IntercontinentalExchange to be boosted by what the firm sees as its proven ability to execute well and its strong market share in energy and agriculture futures. The firm reiterates a Buy rating on the shares but cut its price target on the name to $220 from $240

CME CME Group weakness creates buying opportunity, says Argus

Argus expects CME's results to improve in coming quarters, based on its belief that there will be strong demand for risk management products. The firm keeps a Buy rating on the stock

MRVL Marvell shares undervalued, says RBC Capital

RBC Capital expects Marvell to deliver beat and raise Q1 results. The firm recommends buying the stock as it thinks the shares are undervalued

CRM Salesforce.com likely to beat Q1 expectations, says RBC Capital

RBC Capital expects Salesforce.com's Q1 results to beat expectations, and the firm is upbeat about the stock's risk/reward ratio heading into the results. The firm keeps a $75 price target and Outperform rating on the shares

HPQ HP price target raised to $40 from $34 at Brean Capital

Brean Capital raised its price target on Hewlett-Packard to $40 from $34 as they believe guidance is achievable, the company can find additional cost savings, and the company will continue to use its free cash flow to buy back stock. Shares are Buy rated

FL Foot Locker Q1 estimates raised at UBS

UBS raised Foot Locker Q1 EPS estimate to $1.07 from $1.04, vs. consensus of $1.06 and increased its higher same-store-sales forecast to 6% from 5%. The firm sees potential upside to its 6% same-store-sales estimates due to strong U.S. basketball sales, Nike prices increases, accelerating European trends and improving productivity. Shares are Buy rated with a $51 price target

DKS Dick's Sporting price target lowered to $56 from $61 at Stephens

Stephens said its channel checks point to weak sales in the sporting goods sector, but with an improvement in April. The firm lowered its target multiple on shares of Dick's Sporting Goods ahead of its earnings report tomorrow and cut its price target on the stock to $56. Stephens maintains its Equal Weight rating on the shares

DISH Citi lays out options for DISH following AT&T, DirecTV merger

Citigroup says AT&T's (T) buyout of DirecTV (DTV) removes two potential M&A scenarios for DISH (DISH). Citi sees four potential choices for DISH: offer a competitive bid for DirecTV; sell the spectrum or sell the entire company to Verizon (VZ); buy T-Mobile (TMUS); become a wireless provider by building or partnering to create a national network. The firm says it cannot dismiss the possibility that DISH becomes an alternative bidder for DirecTV

DECK Deckers Outdoor initiated with a Buy at Citigroup

Citigroup sees upside to shares of Deckers Outdoor into the company’s analyst day this fall, its first since 2008, and long-term momentum around UGG's global expansion. Citi believes shares at current levels offer an attractive entry point and initiated the stock with a Buy rating and $94 price targe

Stock Ticker

Call/Put

Strike

Expiration

Closing Price

Possible Entry Price

MOV

CALL 

$45.00

June

.05 x .45

0.25

MOV

CALL 

$50.00

July

NA

0.30