Morning Call For December 5, 2014

Cormorant Global Healthcare reported a 8.94% passive stake in Quotient (QTNT -0.17%) .

Fiat Chrysler (FCAU -2.51%) slid over 3% in after-hours trading after it filed to sell $2.5 billion of mandatory convertible securities due 2016.

Gabelli reported a 12.37% stake in Cincinnati Bell (CBB -0.88%) .

Synaptics (SYNA -1.15%) soared over 7% in after-hours trading after it raised guidance on Q2 revenue view to $440 million-$460 million from $415 million-$450 million, above consensus of $433.12 million.

Northrop Grumman (NOC -0.80%) announced a new $3 billion share repurchase authorization, and then the company was upgraded to 'Conviction Buy' from 'Buy' at Goldman Sachs.

Ulta Salon (ULTA +0.85%) climbed over 5% in after-hours trading after it reported Q3 EPS of 91 cents, higher than consensus of 84 cents.

Cooper Companies (COO -0.45%) dropped over 2% in after-hours trading after it reported Q4 EPS of $1.95, less than consensus of $2.03, and then lowered guidance on fiscal 2015 EPS view to $7.30-$7.70 from $8.20-$8.60, well below consensus of $8.24.

American Eagle (AEO -3.83%) reported Q3 adjusted EPS of 22 cents, right on consensus, although Q3 revenue of $854 million was above consensus of $845.95 million.

The Gap (GPS -0.10%) jumped over 2% in after-hours trading after it reported November same-store-sales of $1.72 billion, up 6% y/y.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 +0.10%) this morning are up +1.75 points (+0.08%). The S&P 500 index on Thursday closed lower: S&P 500 -0.12%, Dow Jones -0.07%, Nasdaq -0.02%. Bearish factors included (1) disappointment the ECB didn’t expand stimulus after ECB President Draghi said the ECB will reassess the effects of existing monetary stimulus “early next year,” and (2) the ECB’s cut in its Eurozone 2014-2016 GDP forecasts. Stocks rebounded from their worst levels after two Eurozone central-bank officials familiar with the deliberations said the ECB was planning for a broad-based asset purchase program next month that includes purchases of sovereign debt.

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