PRE-MARKET MOVERS

 

UPGRADES

 

DOWNGRADES

 

EARNINGS

 

Trending Social Alerts
1. WFC:$WFC Wells Fargo Q1 17 Earnings Results: -EPS: $1.00 -Revenue: $22.0B
2. C:$C Citigroup Q1 17 Earnings Results: -EPS: $1.35 -Revenue: $18.12B
5. JPM:#BREAKING: JP Morgan Chase $JPM Q1 Revenue, $25.59B vs. $24.88B expected
6. BIIB:$BMY gets $470M u/f for licencing an anti-eTau to $BIIB for PSP and an anti-myostatin adnectin to Roche for DMD.…

 

Trending News Headlines
1. IEA Forecasts Second Straight Year of Slowing Oil Demand Growth

Global oil demand growth is expected to slow for the second year in a row, the International Energy Agency said, sounding a cautious note for the market.

2. Oil Stocks Rose in First Quarter Despite OPEC Cut, IEA Says

Global oil inventories probably increased in the first quarter despite OPEC’s near-perfect implementation of production cuts aimed at clearing the surplus, the International Energy Agency said.

3. JPMorgan Chase earnings: $1.65 per share, vs. expected EPS of $1.52

JPMorgan Chase is slated to report first-quarter earnings on Thursday. Here’s what analysts are expecting.

4. Citigroup earnings are coming — here’s what to expect

Citigroup is scheduled to report first-quarter earnings on Thursday. Here’s what Wall Street is expecting:

5. Here comes Wells Fargo…

The earnings come after the bank announced its findings on the fake accounts scandal and Warren Buffett said he was dumping 9 million shares.

6. Guggenheim ups target on Netflix to $173 on signs of stronger engagement

Guggenheim analyst Michael Morris said his firm’s proprietary data points toward sustained growth in visitation and usage for Netflix across all major markets, indicating strengthening global engagement with the service. Ahead of the company’s earnings report, Morris raised his price target on Netflix shares to $173 from $160 and keeps a Buy rating on the shares, which he also identifies as a Best Idea.

7. Facebook under fire for spreading illegal content

An investigation by a British newspaper into child sexual abuse content and terrorist propaganda being shared on Facebook has once again drawn critical..

Technology News
    open to all browsers making it easier for developers to create something quickly and share it with everyone no matter what device on.
    WebVR support on Chrome for desktop headsets like Oculus Rift and HTC VIVE is coming soon.
    In addition to the experiments developers can find resources and open source code to help get started building in WebVR.
    Please find information on various licensing contacts below and choose the one that best suits your needs.
    To license Fortune articles excerpts or headlines for republication in various media including books eBooks film web newsletters newspapers magazines and others please email syndication.
    To license text only photocopies of Fortunearticles as print or digital handouts in academic settings or in academic coursepacks please contact the Copyright Clearance Center at.
    But within hours of the release and humorous edits to the Whopper Wikipedia page by mischievous users tests from The Verge and BuzzFeed showed that the commercial had stopped activating the device.
    Bob Gilbreath chief of Ahalogy a marketing technology company in Cincinnati said Burger stunt posed a risk to Google which introduced Home in November given that such appliances are and unknown to the vast majority of.
    the onset of consumers buying intelligent system devices and using them at home we thought this was a good way to make a connection and go directly to guests and tell a story about our product José Cil president of Burger King said in an interview Wednesday morning.
    Burger King is launching a marketing blitz based on triggering Google devices in what could become a grim precedent for TV and radio ads talking directly to gadgets like smartphones and Amazon Echo speakers.
    While Google Home is still less popular than Amazon Echo the ad could trigger other Android devices like smartphones to search for Whopper Burger King President José Cil said in an interview with BuzzFeed News.
    We saw it as a technology to essentially punch through that fourth wall said Cil who called it a cool way to connect directly with our guests.
    Industry representatives for many of the biggest companies in tech met Tuesday with Ajit Pai the head of the Federal Communications Commission to express vigorous support for net neutrality rules the regulations that require internet providers to treat all web traffic equally.
    The Internet Association also told the FCC chair that according to their own preliminary economic research net neutrality rules did not negatively impact broadband investment which contradicts claims from the telecom industry that the regulations would stymie innovation.
    But Engstrom told BuzzFeed News that if a proposal to undercut net neutrality does materialize Americans should expect massive pushback from the tech world and the broader internet community who stand to lose platforms for free expression and economic access to customers.
    VideoA video from the chain shows the the latest example of marketers entering the living room with the advertisement intended to prompt smart speakers from Google into describing its burgers.
    Bob Gilbreath chief of Ahalogy a marketing technology company in Cincinnati said Burger stunt posed a risk to Google which introduced Home in November given that such appliances are and unknown to the vast majority of.
    the onset of consumers buying intelligent system devices and using them at home we thought this was a good way to make a connection and go directly to guests and tell a story about our product José Cil president of Burger King said in an interview Wednesday morning.
    Burger King is unveiling a horrible genius infuriating hilarious and maybe very poorly ad today designed to intentionally set off Google Homes and Android phones.
    The spot is supposed to begin running in slots across the US today on networks including History Spike Comedy Central MTV E and Bravo and it will air during Adult Swim TheTonight Show and Jimmy Kimmel Live.
    With this ad airing nationally Burger King is opening the door for an editing war and it risks having a malicious editor make the Google Home say something inappropriate when explaining the Whopper.
    Update Thursday Around midnight Burger King ad ran on Jimmy Kimmel Live.
    In response any Google Home speaker nearby would rattle off an excerpt from the Wikipedia entry for the sandwich.
    While a normal human being can still ask their Google Home about the burger the audio from the ad itself no longer triggers the devices BuzzFeed News tests have found.
    Burger King is launching a marketing blitz based on triggering Google devices in what could become a grim precedent for TV and radio ads talking directly to gadgets like smartphones and Amazon Echo speakers.
    While Google Home is still less popular than Amazon Echo the ad could trigger other Android devices like smartphones to search for Whopper Burger King President José Cil said in an interview with BuzzFeed News.
    We saw it as a technology to essentially punch through that fourth wall said Cil who called it a cool way to connect directly with our guests.
    Further IA preliminary economic research suggests that the OI Order did not have a negative impact on broadband internet access service BIAS investment the document states adding that it favors a light touch when it comes to regulation.
    It unclear if any of the comments will resonate with Pai who has suggested replacing the net neutrality rules with voluntary commitments on the part of Internet providers and relying on a different Federal Trade oversee abuses.
    And in an apparent effort to bolster his own political standing Pai has been announcing a series of FCC a campaign against and support for a ban on phone calls during air are likely to prove popular with the public.

VIX CALL BUYERS VANISHED AHEAD OF VOLATILITY SPIKE

It was a range-bound first-quarter for the CBOE Volatility Index (VIX – 16.02), with the market’s “fear gauge” churning between 11.25 — half its pre-election high — and 14 (a level that, until recently, had contained VIX closes since the election). This week, the VIX has staged a break to the upside amid rising geopolitical tensions in Russia and North Korea, and yesterday, spiked to its highest close since Nov. 8.

Recent Volatility Spike Marks Impressive VIX Stat

The volatility pop this week has been significant in terms of historic VIX action. As of Tuesday’s close, VIX’s year-to-date return represented its second-strongest start to the year in the past decade. And, while VIX options remain attractive targets for traders, there’s been a notable downshift in buy-to-open activity among call buyers.

VIX Call Buyers Lose Interest

The VIX 20-day buy-to-open call/put ratio checked in at 2.79 as of Tuesday. While still top-heavy on an absolute basis, this ratio peaked at a nine-year high of 6.60 as recently as Feb. 27. The 58% decline in the VIX call/put ratio since then is its biggest drop over a 32-day time frame since Dec. 12, 2016

VIX options 20day call_put bto ratio

VIX Options Still Elevated

Despite the drop-off in VIX call buying ahead of this week’s spike, the interest in VIX among options traders remains strong. As recently as March 22, call open interest hit a record peak of 9.3 million contracts, while put open interest topped an annual high of 3.6 million contracts. At yesterday’s close, 7.4 million VIX calls were open, in the elevated 94th annual percentile. For the sake of comparison, 3.2 million VIX puts are currently outstanding — an amount that ranks higher than 98% of similar readings taken in the past year.

VIX Options Traders Buy April 17 Calls, Sell April 20 Calls

In the front-month VIX options series, the April 17 and April 20 calls, which expire next Wednesday, April 19, have garnered the most attention — with 367,967 and 347,813 contracts outstanding, respectively. Data from the Chicago Board Options Exchange (CBOE) confirms the bulk of the activity at the 17 strike has been of the buy-to-open kind, while call writers have a slim majority on the higher-strike calls. While spot VIX and VIX futures for April (VIXAPR) haven’t printed north of 20 since early November, VIXAPR was north of 17 back in mid-January.

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