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The Market In 5 Minutes: Stocks Trading Higher As Earnings Season Quiets Down

AMC, Astrazeneca PLC NYSE:AZN - The Market In 5 Minutes: Stocks Trading Higher As Earnings Season Quiets Down

Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email minutes@benzinga.com.

Macro Focus

U.S. stock futures traded higher in early pre-market trade. Futures for the Dow Jones Industrial Average gained 8 points to 18,536.00, while the Standard & Poor’s 500 index futures rose 1.50 points to 2,186.75. Futures for the Nasdaq 100 index climbed 3.50 points to 4,820.50.

Oil prices traded lower as Brent crude futures declined 0.92 percent to trade at $49.50 per barrel, while US WTI crude futures also fell 1.66 percent to trade at $47.30 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

BZ News Desk Focus

Intuit INTU 3.76% Reports Q4 EPS $0.08 vs. Est. $(0.02), Rev. $754M vs. Est. $732.7M
Nimble Storage (NYSE:NMBL) Reports Q2 Adj. EPS $(0.19) vs $(0.20) Est., Sales $97.1M vs $94.7M Est.
La-Z-Boy LZB 14.78% Reports Q1 EPS $0.30 vs. Est. $0.29, Rev. $340.8M vs. Est. $358.7M
Express EXPR 23.14% Q2 EPS $0.13 vs $0.17 est, Revenue $504.8M vs $521.0M est

Sell-Side Themes

Sell-Side's Most Noteworthy Calls

Goldman Sachs downgraded Garmin GRMN 3.17% to Sell.
Argus downgraded WhiteWave WWAV 0.04% to Sell.
Barclays downgraded Canadian Solar CSIQ 0.07% to Equal-Weight.
Longbow upgraded ON Semiconductor ON 1.98% to Buy.
MKM upgraded Tutor Perini TPC 3.12% to Buy.
Baird started Check Point Software CHKP 0.33% at Neutral.
BTIG started Five Below FIVE 1.43% at Neutral.

Deal Talk

Shares of Perrigo PRGO 0.89% traded higher Tuesday following a report from DealReporter that Mylan MYL 0.09% was once again ready to bid for the manufacturer of OTC and prescription pharmaceuticals, according to a sector advisor. Perrigo previously rejected a $26 billion proposal from Mylan.

Pfizer PFE 0.13% will acquire a small molecule anti-infective business from AstraZeneca AZN 0.74% for up to $1.575 billion.

Hollywood talent agencies CAA and UTA, Fox Sports, Thomas H. Lee, WPP Group and Ares Capital Partners have each submitted first-round bids for Learfield Communications, the sports marketing concern that owns media rights to 120 colleges and universities, sources told the New York Post..

In The News

Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends and find new barrels.

A magnitude 6.2 earthquake has struck central Italy, leaving at least 37 people dead and 150 missing, as rescuers search for survivors. Many of the dead were in the village of Pescara del Tronto which was leveled to the ground and there were fears the number of casualties could rise. Although it struck at a shallow depth of 10km, its intensity was compared to the Aquila earthquake in April 2009 in which 309 people died.

Blogosphere

Check out what people are saying about the only hedge fund manager to beat the Feds.

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