HALISTER1: UST MORNING CALL: Global Risks, NFP Seen Eclipsing Fed Minutes

UST MORNING CALL: Global Risks, NFP Seen Eclipsing Fed Minutes

(Bloomberg) -- Impact of today’s FOMC minutes release seen limited, given the Fed meeting was before Brexit vote; release seen eclipsed by Friday’s U.S. employment report.
  • Despite Fed minutes later today, given that the geopolitical outlook is seen remaining uncertain over medium term, investors are unlikely to adjust their Fed expectations meaningfully before Friday’s NFP release, JPMorgan says in client note
  • Near-term price action may be influenced by the minutes, which may shed light on extensive lowering of “dots” on all horizons; Friday’s NFP release will be the main event, expect 155k, below consensus of 179k, Citigroup says in client note
  • Unlikely the minutes will add much new to the discussion as the meeting pre-dates Brexit, RBS says in client note
  • Technicals:
    • Resistance: 134-07 (June 24, overnight high)
    • Support: 133-00 (July 4 low), 132-14+ (50% of June 24 range), 131-01 (61.8% Fibonacci retracement of June 24 range)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER: Wells Fargo’s Partial Tax Victory May Spur Billions in Refunds

Wells Fargo’s Partial Tax Victory May Spur Billions in Refunds

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
WFC US (Wells Fargo & Co)

People
Ancel Martinez (Wells Fargo & Co)
Robert Willens (Robert Willens LLC)
Todd Reinstein (Pepper Hamilton LLP)

Topics
TOP BGOV Home

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UUID: 7947283

HALISTER: Netflix Cut at Jefferies on Domestic Subscriber Growth Concerns

Netflix Cut at Jefferies on Domestic Subscriber Growth Concerns

(Bloomberg) -- Netflix’s domestic subscriber growth trajectory may be flatter than Street expectations, Jefferies analyst John Janedis writes in note.
  • Janedis assumes coverage from Brian Fitzgerald and downgrades to underperform from hold, PT to $80 from $120
  • Hulu and Amazon will make the U.S. market much more competitive in the next 5 years
  • Jefferies estimates NFLX will reach 58.3m paid domestic streaming subs by 2020 vs NFLX’s long term target of 60m-90m
  • NFLX falls 2.5% pre-market on 13k shares; rose 1.3% yesterday after Comcast let NFLX onto its X1 platform
  • NOTE: Yesterday, Netflix Downgraded at Needham on International Growth Risks
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
NFLX US (Netflix Inc)
3276470Z US (Hulu LLC)

People
John Janedis (Jefferies LLC)
Brian Fitzgerald (Jefferies LLC)

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UUID: 7947283

HALISTER: Facebook Hires Tesla’s Rich Heley for Building 8 Innovation Lab

Facebook Hires Tesla’s Rich Heley for Building 8 Innovation Lab

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
TSLA US (Tesla Motors Inc)
FB US (Facebook Inc)

People
Regina Dugan (Facebook Inc)
Rich Heley (Tesla Motors Inc)
Elon Musk (Tesla Motors Inc)
Greg Reichow (Tesla Motors Inc)
Mark Zuckerberg (Facebook Inc)

Topics
Who's News - People
Management Changes

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UUID: 7947283

HALISTER: Italy May Spur Systemic Bank Crisis, SocGen Chair Says (Correct)

Italy May Spur Systemic Bank Crisis, SocGen Chair Says (Correct)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GLE FP (Societe Generale SA)

People
Lorenzo Smaghi (Societe Generale SA)
Klaus Regling (European Financial Stability Facility)
Matteo Renzi (Republic of Italy)

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UUID: 7947283