Futures are solid green as earnings from GOOG has folks breathing a sign of relief and has the stock up over 9% pre-market. I see quite a few folks have GOOG calls in the chatroom so should be a good day. I did have 7 of the 965 calls I sold yesterday morning but I am still holding 5 960s so still should be a great day.
If the market can hold green today, it will mean the SPY has finished green 7 of the last 8 sessions and we are now once again on all-time highs. It seems the bounce from last weeks lows happened quicker then in the past, and the BTFD that UPB always talks about, seems to come even more furious.
The VIX has also dropped substantially from 21+ 4 days ago, to 13.48 yesterday. Good thing is there is room for it to drop more without worrying about a reversal. Still think we get a move under $10 at some point.
CMG reported some good revenue numbers and is up 7% pre-market despite the EPS miss. Funny how folks were on the short CMG bandwagon a year ago, and now it looks poised to break $500 and sport a crazy 50x+ P/E ratio. If they thought overvalued then, what will they call it now?
ISRG reported a quarter that was inline, but that is not good enough for a stock with such negative sentiment. Some analysts are out again this morning defending the stock, which is the status quo quarter after quarter. They will need something in the coming months or the stock will continue to fall.
Here are some of the analyst changes of note for today:
PNRA Panera Bread downgraded to Neutral from Outperform at Wedbush |
As previously reported, Wedbush downgraded Panera Bread following checks that indicates Q3 comp deceleration and Q4 comps of 2.5%. The firm believes 2014 guidance could disappoint and sees limited upside for shares. Price target to $165 from $190 |
ISRG Intuitive Surgical weak system sales reflected in valuation, says Cantor |
After Intuitive Surgical reported that its U.S. systems sales tumbled 43% year-over-year in Q3, Cantor thinks the weak sales are already reflected in the stock's valuation. Moreover, the firm believes that the company's positive attributes, including solid Japan sales and accelerated share repurchases, mitigate its near-term risks. Cantor reiterates a $425 price target and Buy rating on the shares |
CMG Chipotle price target raised to $550 from $480 at RW Baird |
Baird raised its price target on Chipotle despite missing Q3 results. The firm cited promising acceleration in same-store traffic, expectations for margins to improve to all-time highs, robust balance sheet, and industry leading return on invested capital metrics. Shares are Outperform rated |
LVS Las Vegas Sands price target raised to $84 from $76 at Stifel |
Stifel increased its price target on Las Vegas Sands following the company's better than expected Q3 results and keeps a Buy rating on the stock |
ISRG Intuitive Surgical downgraded to Underperform from Market Perform at Northland Securities
CMG Chipotle price target raised to $535 from $455 at Lazard Capital |
Lazard Capital believes Chipotle's better than same-same-stores trumps the earnings miss in Q3. The firm raised its price target for shares to $535 and keeps a Buy rating on the stock |
GOOG Google price target raised to $1200 from $1000 at Credit Suisse |
Credit Suisse raised Google's price target to $1200 from $1000 due to strong volume growth and the proliferation of connected services. Shares are Outperform rated |
GOOG Google price target raised to $1,100 from $1,020 at RBC Capital |
After Google reported stronger than expected results, RBC Capital believes the company is well-positioned to exploit the trend towards mobile devices and video ads. The firm thinks the company will likely soon become a revenue growth acceleration story or a margin stabilization story or both. It keeps an Outperform rating on the stock |
UA Under Armour price target raised to $92 ahead of Q3 results at Canaccord |
Canaccord raised Under Armour's price target to $92 from $76 ahead of the October 24 Q3 report. The firm believes Under Armour has been a beneficiary of strong athletic traffic and believes new products with higher ASPs, shop-in-shop openings at Dick's Sporting Goods, and DTC growth will drive earnings to 69c for the quarter vs. consensus of 66c. Shares are Buy rated |
TZOO Travelzoo price target lowered to $25 from $30 at Benchmark Co. |
Benchmark Co. lowered its price target for Travelzoo citing the company's disappointing Q3 results and keeps a Hold rating on the stock |
ISRG Intuitive Surgical should be bought opportunistically, says William Blair |
William Blair says Intuitive Surgical's results indicate the company's trends did not improve in the Q3. The firm expects shares to remain under pressure in the near-term but recommends adding to positions opportunistically. William Blair expects system placements to recover in 2014 and keeps an Outperform rating on the stock |
GOOG Google price target raised to $1,150 from $1,000 at Jefferies |
Jefferies raised its price target for Google shares to $1,150 following the company's Q3 results and keeps a Buy rating on the name. The firm lists YouTube, Enhanced Campaigns, and mobile as three reasons Google is a "must-own stock. |
Big AMZN upgrade and may try some lotto 325s. May try some CMG lottos as well, as they may push her to $490 today:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
AMZN | CALL | $325.00 | Weekly | 0.02 | 0.10 |
CMG | CALL | $485.00 | Weekly | 0.95 | 0.35 |
Lets have a great day and see you all Sunday for the Week Ahead!
- JB