Analysts are weighing in today on online retailer Amazon.com, Inc. (NASDAQ:AMZN), social networking site LinkedIn Corp (NYSE:LNKD), and Internet auction house eBay Inc (NASDAQ:EBAY). Here's a quick roundup of today's bullish brokerage notes on AMZN, LNKD, and EBAY.

• AMZN has gotten off on the right foot this "Prime Day" morning, receiving a $55 price-target hike to $505 (uncharted territory for the stock) from Monness Crespi Hardt. The bullish note could allow the shares to add to their year-to-date lead of 50%, as of Tuesday's close at $465.57. There's potential for more positive analyst attention, too. Thirteen of 28 brokerages still consider Amazon.com, Inc. worthy of just a "hold" rating. Plus, the stock's consensus 12-month price target of $473.53 stands at a slim 1.7% premium to current trading levels.


• Barclays upgraded its opinion of LNKD to "overweight" from "equal weight," and raised its price target to $250 from $225, commenting that the issues that plagued the company's first-quarter results and full-year outlook are "transitory not structural." Ahead of the open, the shares -- which have lost nearly 7% in 2015, and have been churning in the $205-$220 range since early June -- are up 2.6%. Meanwhile, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have grown bullish in recent months. LinkedIn Corp's 50-day call/put volume ratio of 1.47 ranks just 11 percentage points from an annual high. In other words, speculators have rarely bought to open calls over puts at a more rapid rate.


• EBAY will be replaced on the S&P 100 Index (OEX) this Friday by the company it's spinning off -- Paypal Holdings Inc (NASDAQ:PYPLV). Ahead of this event -- as well as tomorrow morning's eBay Inc earnings report -- Benchmark upped its price target on the security to $71. The positive note is well-deserved, considering the stock touched a record high of $64.29 yesterday, before settling at $63.59 -- up more than 13% on the year. Bullish betting has been intense on the ISE, CBOE, and PHLX, as well. EBAY's 10-day call/put volume ratio of 4.90 indicates nearly five calls have been bought to open for every put in recent weeks. What's more, this ratio ranks in the 93rd percentile of its 52-week range. Ahead of the open, the shares are pointed 1.2% north.

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U.S. stocks are sitting higher in pre-market action, as traders await a key Greek parliament vote and testimony from Fed Chair Janet Yellen. In company news, today's stocks to watch include biotech Celgene Corporation (NASDAQ:CELG), clothier Guess?, Inc. (NYSE:GES), and pediatric nutrition company Mead Johnson Nutrition CO (NYSE:MJN).

• CELG is poised to jump 8.9% -- and explore record highs -- out of the gate, after the firm said it'll buy Receptos Inc (NASDAQ:RCPT) for $7.32 billion in cash, or $232 per share, a 12% premium to RCPT's close of $207.18 on Tuesday. Analysts are cheering the M&A news, with Celgene Corporation scoring no fewer than eight price-target hikes. Among them, Baird lifted its target to $162 from $139, and Deutsche Bank upped its target to $175 from $160; both brokerage firms underscored "buy" or equivalent ratings. CELG already sports 12 "buy" or better endorsements, compared to three lukewarm "holds." At Tuesday's close, the stock sat at $122.85, boasting a year-to-date gain of 9.8%.


• GES is headed for a 6.8% surge, after the company said Victor Herrero -- a former Inditex Group exec -- will replace Paul Marciano as CEO next month. Subsequently, GES earned an upgrade to "hold" from "sell" at Evercore ISI, and a price-target hike to $24 at Wunderlich. The past year has been a struggle for Guess?, Inc., with the shares dropping 22.1% to sit at $21.16. However, since bottoming at $16.61 in mid-March, the stock has muscled higher, and is on pace to end the month atop its 10-month moving average -- and in positive year-to-date territory -- for the first time since late 2013. Should GES stage a notable rebound, short sellers could get spooked. Short interest accounts for almost 21% of the stock's total available float, representing nearly 13 sessions' worth of pent-up buying demand, at the equity's average pace of trading.


• Finally, MJN is bracing for a 4.9% drop, after the company slashed its 2015 earnings and revenue forecast, citing a cooling Chinese economy. Mead Johnson Nutrition CO got almost one-third of its sales from China in 2014. The stock touched an annual low of $87.88 yesterday, before settling at $88.13, and today's expected plunge will put the shares deeper in the red. Amid the security's technical woes, short sellers have been piling on. Short interest skyrocketed by 37.5% during the past two reporting periods, and now accounts for almost 3.7 million MJN shares.

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Analysts are weighing in today on mining company Barrick Gold Corporation (USA) (NYSE:ABX), Internet stock Yahoo! Inc. (NASDAQ:YHOO), and Pizza Hut parent Yum! Brands, Inc. (NYSE:YUM). Here's a quick roundup of today's bearish brokerage notes on ABX, YHOO, and YUM.

• ABX is off 0.5% this morning at $9.84, following a price-target cut to C$15.65 from C$15.75 at Haywood. This is business as usual for the shares, which have charted a steady path lower -- pressured by their 10-day moving average -- since mid-May. In fact, since touching its most recent peak of $13.60 on May 14, Barrick Gold Corporation has shed roughly 28%. Nevertheless, option traders are counting on a comeback. During the last 50 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 7.62 calls for every put -- a ratio that ranks a mere 2 percentage points from a 12-month peak.


• YHOO, which will report earnings after the close next Tuesday, July 21, received a price-target reduction to $50 from $59 at SunTrust Robinson. As such, the shares are down 0.6% out of the gate at $38.40, bringing their year-to-date deficit to 24%. Amid this prolonged downtrend, option traders have been upping the bearish ante. Yahoo! Inc.'s 50-day ISE/CBOE/PHLX put/call volume ratio of 0.50 outstrips all but 3% of readings taken in the past year. In other words, traders have been buying to open YHOO puts over calls at a breakneck pace.


• In the wake of a poorly received earnings report, YUM saw its price target trimmed by $2 to $103 at J.P. Morgan Securities -- though this still represents all-time-high territory for the shares. Collectively, these developments have the stock off 2% out of the gate at $89.74 -- though this move is less than the market had priced into short-term options. Nevertheless, Yum! Brands, Inc. is still sitting on a year-to-date advance of more than 23%. Taking a step back, the brokerage bunch is fairly skeptical of the equity, with nearly 56% doling out tepid "hold" ratings. Also, YUM's consensus 12-month price target of $93.47 is just a chip-shot away from the stock's current perch.

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By Howard Schneider and Michael Flaherty

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen said on Wednesday the U.S. central bank remains on track to raise interest rates this year, with labor markets expected to steadily improve and turmoil abroad unlikely to throw the U.S. economy off track.

"If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate," Yellen said in testimony prepared for the U.S. House of Representatives Financial Services Committee, affirming the view of a central bank prepared to gradually raise rates after more than six years at a near-zero level.

Labor markets are "not yet consistent with maximum employment," she said. "Greece remains difficult. And China continues to grapple with the challenges posed by high debt, weak property markets, and volatile financial conditions."

Federal Reserve Board Chair Janet Yellen arrives to testify before a House Financial Services committee hearing on "Monetary Policy and the State of the Economy" on Capitol Hill in Washington July 15, 2015. REUTERS/Yuri Gripas

Still, "looking forward, prospects are favorable for further improvement in the U.S. labor market and the economy more broadly."

Her written statement to the committee is to be followed by a hearing later Wednesday morning. The statement largely tracked her recent public comments, as well as the most recent policy statement by the Fed's policy-setting committee.

She did, however, include an explicit defense of the Fed's "transparency and accountability," detailing the central bank's flow of information to financial markets and its press conference and audit schedules as evidence it does not need further congressional oversight.

She will likely be questioned on that very point from members of the Republican-led House committee. House members were critical of the Fed at her previous appearance before them in February. In the intervening months some lawmakers have expressed frustration over the fact that the Fed has not released all of the material Congress has requested as part of an investigation of the possible leak of information from the central bank to an economic consulting company in 2012.

Yellen has said the Fed had declined to send the information because a separate Justice Department probe is ongoing.

Yellen's statement was submitted to the committee along with a lengthier report from the Fed board on the state of the economy and financial markets.

That report included more detail on what the United States faces as it tries to go its own way in a weakened world economy. The expectation that the Fed will diverge from Europe, Japan and other central banks and begin raising rates has pushed up the value of the dollar, and driven down exports and U.S. growth, making the Fed's outlook less certain, the report said.

The report also noted concerns about a possible liquidity crisis if bond markets become stressed, an issue some investors and market analysts have cited as a potential source of future trouble. The staff report said that while there is some evidence bond markets are not as "deep" or liquid as they used to be, there is not convincing evidence of "notable deteriorations."

 

(Reporting by Howard Schneider; Editing by Paul Simao)

Analysts are weighing in today on chipmaker QUALCOMM, Inc. (NASDAQ:QCOM), biopharmaceutical firm PTC Therapeutics, Inc. (NASDAQ:PTCT), and Chinese search engine Baidu Inc (ADR) (NASDAQ:BIDU). Here's a quick roundup of today's brokerage notes on QCOM, PTCT, and BIDU.

• QCOM was started with a "neutral" rating and $68 price target at Mizuho. In the wake of this tepid note, the stock has advanced 0.2% to trade at $64.09, but remains almost 14% lower in 2015. Not surprisingly, options traders have been rolling the dice on extended losses for QUALCOMM, Inc. The security has accrued a 10-day put/call volume ratio of 1.17 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), with long puts outweighing long calls. What's more, this ratio ranks just 6 percentage points from a 12-month peak. Looking ahead, QCOM will report earnings one week from tonight.


• A number of drugmakers are breaking out today, and PTCT is no exception. Specifically, the shares are up 15% at $56.29 -- and back in positive year-to-date territory -- after being upgraded to "overweight" from "neutral" at J.P. Morgan Securities. Specifically, the brokerage firm gave PTC Therapeutics, Inc.'s late-stage study on its muscular dystrophy treatment, Translarna, an 80% chance of success. The gap higher -- which has PTCT above its 40-day moving average for the first time since late April -- may be putting the hurt on short sellers. Nearly 12% of the stock's float is sold short -- equaling more than one week's worth of trading activity, at typical volumes.


• BIDU has retreated 1% to trade at $189.30, following a $22 price-target reduction to $225 at BofA-Merrill Lynch. These technical struggles are consistent with the equity's track record, as the shares have given back roughly 17% of their value in 2015. Shockingly, eight of 11 analysts still maintain a "strong buy" rating on Baidu Inc. On the other hand, option traders aren't nearly so optimistic. BIDU's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.71 rests just 6 percentage points from an annual peak. In other words, speculators have been scooping up puts over calls at an accelerated clip in recent months.

During his speech at the Delivering Alpha Conference today, activist investor Bill Ackman warned investors about the threat China poses to global markets. "If you look at the Chinese financial system, you look at shadow banking, you look at the amount of leverage, you look at how desperately they worked to keep the stock market up. It looks worse to me than 2007 in the U.S.," Ackman said. His remarks arrive as Chinese markets have resumed their downward trend in recent sessions, with a number of U.S.-listed stocks getting hammered -- including Qihoo 360 Technology Co Ltd (NYSE:QIHU), SINA Corp (NASDAQ:SINA), Weibo Corp (ADR) (NASDAQ:WB), and Youku Tudou Inc (ADR) (NYSE:YOKU).

Cybersecurity firm QIHU is 4.6% lower at $61.06, with the shares on track to close below their 40-week moving average for the first time in seven weeks. This is bad news for recent call buyers, who may be betting on the firm to go private. Specifically, the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 7.12  ranks in the 95th percentile of its annual range -- suggesting near-extreme levels of optimism toward Qihoo 360 Technology Co Ltd.

Meanwhile, online media firm SINA has plunged 5% to trade at $42.83. In fact, since touching an annual high of $61.25 in mid-June, the shares have lost 30%. Option buyers are rolling the dice on additional downside, too. SINA Corp's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.49 rests just 8 percentage points from a 52-week peak.

Social media stock WB is also down 5%, hovering near $14.20 -- and back in the red on a year-to-date basis. In recent sessions, the shares have faced overhead resistance at their rapidly declining 10-day moving average. However, option traders are counting on a bounce, buying to open more than eight calls for every put over the last 10 sessions at the ISE, CBOE, and PHLX. Specifically, Weibo Corp's 10-day call/put volume ratio of 8.55 outranks 71% of comparable readings from the previous year.

Finally, Internet TV firm YOKU is staring at an intraday deficit of 6.1% at $19.38, pressured lower by its descending 10-day moving average. Since hitting a 52-week high of $31.50 in early June, the stock has surrendered 38.5% of its value. This is music to the ears of recent put buyers -- of which there have been many. During the last 10 weeks at the ISE, CBOE, and PHLX, Youku Tudou Inc has amassed a put/call volume ratio of 0.97 -- topping all but 16% of readings recorded in the past 12 months.

The major market indexes are looking to extend their winning streaks, though upside momentum is relatively muted compared to the big gains of the past few days. However, one sector that's standing out -- again -- is biotech, with the iShares Nasdaq Biotechnology ETF (IBB) assailing new heights, and a number of drugmakers pacing the Nasdaq leaders. 

IBB was last seen 1.4% higher at $393.27, and earlier notched a record high of $396.94. In the options pits, calls are crossing the tape at twice the average daily pace, with potential buy-to-open action spotted at the July 392.50-, 395-, 397.50-, and 400-strike calls. By purchasing the calls to open, the buyers expect IBB to extend its upward momentum through the end of the week, which represents' the contracts' lifetime.

Digging deeper into the outperformers, PTC Therapeutics, Inc. (NASDAQ:PTCT) is up 7 points, or 14.3%, thanks to a nod from J.P. Morgan Securities. In the same vein, Zogenix, Inc. (NASDAQ:ZGNX) is 2.3 points, or 12.8%, higher -- and earlier hit an annual high of $20.47 -- after a price-target hike to $28 from $20 at Brean Capital. The brokerage firm also waxed optimistic on the company's experimental drug for Dravet syndrome.

Arguably the biggest story of the biotech world today, however, belongs to Celgene Corporation (NASDAQ:CELG) -- up 10.1 points, or 8.2%, and fresh off an all-time peak of $135.98, on news of its $7.3 billion purchase of Receptos Inc (NASDAQ:RCPT).

Enjoying the ride are Celldex Therapeutics, Inc. (NASDAQ:CLDX) and OHR Pharmaceutical Inc (NASDAQ:OHRP). The former is up 1.1 points, or 4.1%, to wink at $27.18, and the latter has added 0.7 point, or 21.5%, to hang just south of $4, extending its data-induced surge sparked earlier this week. Likewise, Esperion Therapeutics Inc (NASDAQ:ESPR) has surged 4.2 points, or 4.6%, to dock at $95.82.

Amazon.com, Inc. (NASDAQ:AMZN) has been hyping today's Prime Day for some time, and it seemed coming in that expectations were fairly high. And that's understandable: What sounds better than getting great deals without having to step away from "Cupcake Wars"? Excitement built to the point that Wal-Mart Stores, Inc. (NYSE:WMT) decided it should do something, so it's having an online sale of its own.

Most of the focus has remained on Amazon, though, and that is not a good thing. It seems Prime Day is making a name for itself by promoting a lot of strange items. Let's take a peek at the conversation taking place on Twitter.

— Eriq Martin (@Ereeeek) July 15, 2015

— Andrew Schaper (@asch) July 15, 2015

— Mathew Santiago (@Romix_valeski) July 15, 2015

— Morgan Missen (@mm) July 15, 2015

— P-trick707 (@kiser_patrick) July 15, 2015

— Ryan Cramer (@rjcramer07) July 15, 2015

— Liam Barry (@liam_barry_99) July 15, 2015

It's never good when customers add "fail" to the end of your trending hashtag. Many other people disapproved of the lack of Optimus Prime appearances within Prime Day.

 

— daniel (@DasDaz) July 15, 2015

— Paul R. La Monica (@LaMonicaBuzz) July 15, 2015

Other shoppers were happy to get some Pop-Tarts, though.

— MJ⛳️ (@MJGWrites) July 15, 2015

Many have compared the event to a garage sale, or clearance event.

 

— Brian Tong (@briantong) July 15, 2015

From the look of it, AMZN shoppers think Prime Day is a disaster ... and it's hard to blame them. Amazon said the event would be bigger than Black Friday, you know, when consumers get awesome deals on cool items, like TVs and other electronics. Not transaction checkbook registers.

 

This must mean Wal-Mart won the "sales showdown," right? Well, maybe not. From the looks of it, Wal-Mart isn't exactly offering the most exciting products, either...

 

Markets in Asia rose today, after the Greek parliament voted in favor of the country's bailout plan. In China, the Shanghai Composite experienced another volatile session as hundreds of stocks resumed trading, eventually settling with a 0.5% win -- and snapping its two-day losing streak. Elsewhere, Japan's Nikkei and South Korea's Kospi each tacked on 0.7%, both amid weakening currencies, while Hong Kong's Hang Seng added 0.4%.

European benchmarks are comfortably in the green at midday, following the Greek parliament's austerity vote. Focus will now be on European Central Bank (ECB) President Mario Draghi, who is slated to hold a press conference at 8:30 a.m. E.T. on the situation in Greece, as well as the ECB's latest monetary policy decision. At last check, the French CAC 40 and the German DAX are flirting with 1.6% leads, while London's FTSE 100 is up 0.6%.

Analysts are weighing in today on chipmaker Intel Corporation (NASDAQ:INTC), financial firm BlackRock, Inc. (NYSE:BLK), and Internet power Google Inc (NASDAQ:GOOGL). Here's a quick roundup of today's bullish brokerage notes on INTC, BLK, and GOOGL.

• INTC is basking in the bullish limelight, following a standout turn in the earnings confessional last night. Needham upgraded its opinion to "buy" from "hold," while Ascendiant boosted its rating to "hold" from "sell." On top of that, no fewer than five analysts upwardly revised their price targets on Intel Corporation. In electronic trading, the shares are 2.4% higher, relative to last night's close at $29.69. In fact, last time the company reported earnings, it went on to gain over 4% in the ensuing session. Option bears may be sweating bullets. During the last two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 2.42 INTC puts for every call, a ratio that sits just 2 percentage points from a 12-month peak. An unwinding of this negativity could send the stock higher.


• BLK, which tacked on 1.1% yesterday to close at $346.49, following an earnings beat, is under fire from Carl Icahn. The activist investor called the company "extremely dangerous," and said it was contributing to a high-yield debt bubble via the sale of exchange-traded funds (ETFs). However, BlackRock, Inc. CEO Larry Fink -- with whom Icahn shared a stage yesterday at the Delivering Alpha Conference -- responded, calling his critic's characterization of ETFs "dead wrong." Not everyone is against BLK -- the stock has received a trio of price-target hikes since yesterday's close, with KBW setting the highest mark at $398. By contrast, RBC slashed its target to $388 from $410 -- still in all-time-high territory. Elsewhere, short-term traders have been buying to open BLK puts over calls at a rapid-fire rate in recent months. The equity's 50-day ISE/CBOE/PHLX put/call volume ratio of 2.94 ranks in the 92nd annual percentile.


• GOOGL, which will report earnings after tonight's closing bell, was upgraded to "outperform" from "market perform" by BMO, which cited higher earnings estimates and stabilizing profit margins. The bullish note has the stock perched 1.1% higher in pre-market trading, and ready to add to its recent advance. Over the past five sessions, Google Inc has popped 7.8% to last night's close at $583.96. In general, the brokerage crowd has shown optimism toward the shares. Twenty-two analysts currently rate GOOGL a "buy" or better, compared to five "holds" and not a single "sell." What's more, the security's consensus 12-month price target of $641.36 stands in uncharted territory.

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Analysts are weighing in today on automaker General Motors Company (NYSE:GM), GPS giant Garmin Ltd. (NASDAQ:GRMN), and fertilizer firm Potash Corp./Saskatchewan (USA) (NYSE:POT). Here's a quick roundup of today's bearish brokerage notes on GM, GRMN, and POT.

• GM, which announced another round of recalls yesterday, saw its rating downgraded to "equal weight" from "overweight" -- and its price target reduced to $36 from $44 -- at Barclays. On the charts, the stock has lost 11.7% in 2015 to land at $30.84, and has underperformed the broader S&P 500 Index (SPX) by 12.5 percentage points over the past 20 sessions. Amid this downtrend, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been buying to open General Motors Company puts over calls at an increasingly accelerated clip. The equity's 10-day put/call volume ratio of 0.84 outranks 90% of comparable readings from the past year. Looking ahead, GM will report earnings one week from this morning. The last time around, the shares slid 3.3% in the session following the company's quarterly results.


• After last night offering up disappointing preliminary second-quarter results and lowering its full-year guidance, GRMN is in the bearish crosshairs. Specifically, J.P. Morgan Securities cut its price target by $4 to $42, while Dougherty & Company slashed its price target by $10 to $50. As such, Garmin Ltd. has plunged over 10% out of the gate to trade at $41.65 -- touching an annual low of $41.20 in the process. This is music to the ears of short sellers. Over 12% of GRMN's float is sold short, which would take 9.5 sessions to repurchase, at typical daily volumes.


• POT saw its price target trimmed to $34 from $37 at CIBC. The bearish attention is well-earned, considering the stock has lost almost 18% in 2015 to trade at $28.98, and hit a nearly two-year low of $28.58 one week ago. In spite of this long-term downtrend, traders at the ISE, CBOE, and PHLX have been buying to open calls over puts at a breakneck speed in recent months. Potash Corp./Saskatchewan's 50-day call/put volume ratio of 3.99 outstrips all but 4% of readings taken in the last 12 months. A capitulation among these bullish holdouts could result in additional headwinds.

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Greek bailout mania continues, with stocks higher following last night's vote from Greece's parliament.  In company news, today's stocks to watch include online auction marketplace eBay Inc (NASDAQ:EBAY), biotech concern Novogen Limited (ADR) (NASDAQ:NVGN), and healthcare solutions provider Stericycle Inc (NASDAQ:SRCL). 

• EBAY reported stronger-than-expected quarterly revenue and said it's selling its enterprise business.This is eBay Inc's final earnings report before tomorrow's expected split with its PayPal division. At last check, the stock was up 4% at $66, and just notched a record best of $66.65. Despite a solid technical performance, analysts are bearishly oriented. Fifteen of the 26 analysts tracking the firm rate it a "hold" or worse, leaving plenty of room for post-earnings upgrades.

• Australian biotech firm NVGN is 7% higher at $5.17, after the U.S. Food and Drug Administration (FDA) granted its Anisina Orphan Drug Designation. Technically speaking, shares of Novogen Limited (ADR) were caught in a bit of a rut before today, consolidating in the $4-$5 area. However, the equity is now on pace to topple its 10-week moving average for the first time since mid-May, and remains almost 150% higher year-to-date.

• Finally, SRCL announced after the closing bell sounded yesterday that it is acquiring privately held paper shredder Shred-It International. The price tag for the acquisition comes in at $2.3 billion in cash. Stericycle Inc expects to add at least 10% to per-share earnings by 2016 thanks to the deal. SRCL is up 3.3% at $138.98, and a short-covering situation could add fuel to the equity's fire. Short interest represents more than seven sessions' worth of pent-up buying demand, at the stock's average pace of trading.

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