Wednesday, June 25, 2014

Westar Energy - Barchart's Chart of the Day

Westar Energy (WR) is the Barchart Chart of the Day.  The electric utility stock has a Trend Spotter buy signal, a Weighted Alpha of 20.99+, gained 21.20% in the last year and paid a 3.77% dividend.

The Chart of the Day belongs to Westar  Energy (WR).  I found the stock by sorting today's New High list for new high frequency in the last month then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 5/2 the stock gained 4.63%.

Westar Energy, Inc. is Kansas' largest electric utility. Westar has 7,200 MW of electric generation capacity fueled by coal, uranium, natural gas, wind and landfill gas. They are a leader in electric transmission in Kansas. Their innovative customer service programs include mobile-enabled customer care, digital meters and paving the way for electric vehicle adoption.




The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 5.72% in the last month
  • Relative Strength Index 73.69%
  • Barchart computes a technical support level at 36.0
  • Recently traded at 37.49 wit a 50 day moving average of 35.88
Fundamental factors:
  • Market Cap $4.3 billion
  • P/E 15.48
  • Dividend yield 3.77%
  • Revenue predicted to row 5.90% this year and another 2.30% next year
  • Earnings estimated to increase 3.90% this year and continue to compound at an annual rate of 2.90% for the next 5 years
  • Wall Street analysts issued 4 strong buys, 2 buys, 6 holds and 1 under perform recommendation on the stock
Stable utility,.  Treat as a total return stock.

BARCHART MORNING CALL 6/25

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU14 +0.04%) this morning are up +0.10% and European stocks are down -0.44%. European stocks were undercut on concern that the violence in Ukraine between government forces and rebels may escalate. Ukrainian President Poroshenko called for immediate talks with Russia, Germany and France after pro-Russian rebels shot down a government helicopter in violation of a cease-fire. Three people briefed on the plans said the U.S. is preparing additional sanctions aimed at specific areas of the Russian economy, including energy and technology. On the positive side in Europe, the German Jul Gfk consumer confidence rose more than expected to a 7-1/2 year high. Asian stocks closed lower: Japan -0.71%, Hong Kong -0.06%, China -0.53%, Taiwan -0.04%, Australia -0.57%, Singapore -0.02%, South Korea -0.61%, India -0.22%. China's Shanghai Stock Index closed lower after a gauge of Chinese consumer sentiment tumbled to the lowest in 11 months. Commodity prices are mixed. Aug crude oil (CLQ14 +0.37%) is up +0.51% and surged nearly +$1.50 a barrel in overnight trade after the WSJ reported that federal officials told two U.S. energy companies that they can legally export light crude after minimal processing. Oil prices fell back from their best levels, however, after a spokesman for the U.S. Department of Commerce said that "there has been no change in policy on crude oil exports." U.S. crude oil exports have been banned for the past 41 years and with U.S. crude production at a 27-1/2 year high, the oil industry is pressuring the Obama administration to end the oil export ban. Aug gasoline (RBQ14 -0.67%) is down -0.62%. Aug gold (GCQ14 -0.54%) is down -0.58%. July copper (HGN14 -0.21%) is up +0.02%. Agriculture and livestock prices are mixed, although July lean hog prices are up +0.52% and posted an all-time nearest-futures high of $1.312 a pound in overnight trade. The dollar index (DXY00 -0.01%) is up +0.01%. EUR/USD (^EURUSD) is down -0.02%. USD/JPY (^USDJPY) is down -0.04%. Sep T-note prices (ZNU14 +0.10%) are up +2.5 ticks.
The German Jul GfK consumer confidence rose +0.3 to 8.9, better than expectations of +0.1 to 8.6 and he highest in 7-1/2 years.
UK Jun CBI reported monthly sales unexpectedly fell -12 to 4, weaker than expectations of +7 to 23 and the lowest volume of sales in 7 months.
The China Jun Westpac-MNI consumer sentiment indicator dropped -8.6 to 112.6, the lowest in 11 months.
The Japan May PPI services rose +3.6% y/y, more than expectations of +3.3% y/y and the largest increase in 23-1/2 years.
U.S. STOCK PREVIEW
Today’s May durable goods orders report is expected to be unchanged overall and +0.3% ex-transportation following the April report of +0.6% and +0.3% ex-transportation. Today’s Q1 GDP report is expected to show a downward revision to -1.8% (q/q annualized) from the last estimate of -1.0%. The Treasury today will sell $35 billion of 5-year T-notes. The Treasury will then wrap up this week’s T-note package by selling $29 billion of 7-year T-notes on Thursday.
There are four of the Russell 1000 companies that report earnings today: General Mills (consensus $0.72), Apollo Education Group (0.66), Monsanto (1.55), Bed Bath & Beyond (0.95). Equity conferences this week include: Global Hunter Securities LLC Energy Conference on Tue-Wed, Oppenheimer Consumer Conference on Tue-Wed, Mobile Pharma Biztech 2014 on Wed-Thu.








OVERNIGHT U.S. STOCK MOVERS
Whole Foods Markets (WFM -0.74%) was initiated with an 'Overweight' at Morgan Stanley with a price target of $50.
Harley-Davidson (HOG -0.99%) was downgraded to 'Hold' from 'Buy' at KeyBanc.
Walgreens (WAG -1.70%) was upgraded to 'Buy' from 'Hold' at Jefferies with a price target of $87.
General Mills (GIS -1.05%) reported Q4 EPS of 67 cents, below consensus of 72 cents.
Valmont (VMI -0.27%) lost 5% in after-hours trading after it lowered guidance on fiscal 2014 EPS view to $9.35-$9.65 from a prior view of $10.00-$10.50, well below consensus of $10.37.
Lockheed Martin Space Systems (LMT -0.88%) has been awarded a $1.86 billion government contract modification to a previously awarded contract for Space-Based Infrared Systems Geosynchronous Earth Orbit 5 and 6 satellites, including performance incentives and options for acoustic testing and launch operations.
Affiliated Managers (AMG -0.89%) will replace Forest Labs (FRX +1.31%) in the S&P 500 as of the close on June 30.
Bristol-Myers (BMY +0.62%) rose 2% in after-hours trading after it said that a Phase 3 study of its drug nivolumab given to patients with advanced melanoma conducted by the independent Data Monitoring Committee showed evidence of superior overall survival rates.
Gabelli reported a 5.39% stake in AMC Networks (AMCX -0.07%) .
Hibbett Sports (HIBB +0.07%) was initiated with an 'Outperform' at BMO Capital with a price target of $64.
AK Steel (AKS -0.52%) said it will increase the base prices for for all of its stainless steel products, effective with shipments on July 6, by $40 per ton for automotive grades and by by $200 to $300 per ton for all non-automotive grades, depending on the product.
Team (TISI -1.81%) pre-announced that it expects to report adjusted Q4 EPS of 60 cents, below the company's previously issued adjusted earnings guidance for the current quarter of 65 cents-80 cents per share and below consensus of 71 cents.
MARKET COMMENTS
Sep E-mini S&Ps (ESU14 +0.04%) this morning are up +2.00 points (+0.10%). The S&P 500 index on Tuesday posted a record high early but then fell back the rest of the day and closed lower on concern the violence in Iraq may escalate after the WSJ reported that Syrian warplanes bombed several areas in western Iraq. Bullish factors included (1) the +3.0 point increase in Jun consumer confidence to 85.2, stronger than expectations of +0.5 to 83.5 and the highest in 6-1/3 years, and (2) the +18.6% surge in May new home sales to 504,000, much higher than expectations of +1.4% to 439,000 and the highest in 6 years. Closes: S&P 500 -0.64%, Dow Jones -0.70%, Nasdaq -0.15%.
Sep 10-year T-notes (ZNU14 +0.10%) this morning are up +2.5 ticks. Sep 10-year T-note futures prices on Tuesday closed higher on increased safe-haven demand after the S&P 500 fell back from a record high and closed lower. Bearish factors included (1) the larger-than-expected increase in May new home sales to the highest in 6 years, and (2) the increase in U.S. Jun consumer confidence to the best level in 6-1/3 years. Closes: TYU4 +9.50, FVU4 +4.25.
The dollar index (DXY00 -0.01%) this morning is up +0.008 (+0.01%). EUR/USD (^EURUSD) is down -0.0003 (-0.02%). USD/JPY (^USDJPY) is down -0.04 (-0.04%). The dollar index on Tuesday closed higher on signs of strength in the U.S. economy after (1) U.S. May new home sales rose to the highest in 6 years and (2) U.S. Jun consumer confidence climbed to the best level in 6-1/3 years. EUR/USD was little changed after the German Jun IFO business climate fell more-than-expected to the lowest level in 6 months. Closes: Dollar Index +0.055 (+0.07%), EUR/USD +0.0004 (+0.03%), USD/JPY +0.017 (+0.02%).
Aug WTI crude oil (CLQ14 +0.37%) this morning is up +54 cent (+0.51%). Aug gasoline (RBQ14 -0.67%) is down -0.0191 (-0.62%). Aug crude and gasoline prices on Tuesday settled mixed. Bullish factors included (1) concern that escalation of violence will lead to reduced oil exports from Iraq, OPEC’s second biggest producer, and (2) better-than-expected U.S. economic data on home sales and consumer confidence, which is positive for fuel demand. Crude oil fell into negative territory after a Saudi official said that Saudi Arabia will respond to any shortage in global oil markets with increased production. Closes: CLQ4 -0.14 (-0.13%) RBQ4 +0.0173 (+0.56%).
GLOBAL EVENT CALENDAR06/25/2014
US0700 ETWeekly MBA mortgage applications, previous -9.2% with purchase sub-index -4.7% and refi sub-index -12.7%.
0830 ETMay durable goods orders expected unch and +0.3% ex transportation, Apr +0.6% and +0.3% ex transportation. May non-defense capital goods orders ex-aircraft expected +0.5%, April -1.2%.
0830 ETQ1 GDP expected revised weaker to -1.8% from -1.0% (q/q annualized). Q1 personal consumption expected revised to +2.5% from +3.1%. Q1 GDP price index expected unrevised at +1.3%. Q1 core PCE expected unrevised at +1.2%.
0945 ETJune Markit U.S. Services PMI expected -0.1 to 58.0, May +3.1 to 58.1. June U.S. Composite PMI, May +2.8 to 58.4.
1000 ETTreasury Secretary Jacob Lew testifies to the Senate Banking Committee on the Financial Stability Oversight Council annual report.
1030 ETEIA Weekly Petroleum Status Report.
1300 ETTreasury auctions $35 billion 5-year T-notes.
GER0200 ETGerman July GfK consumer confidence expected +0.1 to 8.6, Jun 8.5.
UK0600 ETUK Jun CBI reported sales expected +7 to 23, May 16.
U.S. STOCK CALENDAR06/25/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
General Mills IncGIS USBef-mktQ4 2014 Earnings ReleaseQ4 20140.719
Apollo Education Group IncAPOL USBef-mktQ3 2014 Earnings ReleaseQ3 20140.661
Monsanto CoMON USBef-mktQ3 2014 Earnings ReleaseQ3 20141.551
CIT Group IncCIT US8:00Investor DayY 2014
General Mills IncGIS US8:30Q4 2014 Earnings CallQ4 2014
Apollo Education Group IncAPOL US8:30Q3 2014 Earnings CallQ3 2014
Advance Auto Parts IncAAP US8:30Investor and Analyst MeetingY 2014
Hanesbrands IncHBI US8:30Acquisition of DBApparel of Sun Capital Partners, Inc by Hanesbrands, Inc Call
McKesson CorpMCK US9:00Investor DayY 2014
Waddell & Reed Financial IncWDR US9:00Investor DayY 2014
Monsanto CoMON US9:30Q3 2014 Earnings CallQ3 2014
ARIAD Pharmaceuticals IncARIA US10:00Annual General MeetingY 2014
Equinix IncEQIX US10:00Investor DayY 2014
Schlumberger LtdSLB US11:00Investors Conference - Day 2Y 2014
Yahoo! IncYHOO US11:00Annual General MeetingY 2014
SLM CorpSLM US11:00Annual General MeetingY 2014
IHS IncIHS US12:00CABE Presents Energy Rivalry" with Kevin Birn"
Ingram Micro IncIM US12:25Investor DayY 2014
TransDigm Group IncTDG US12:45Analyst DayY 2014
Molson Coors Brewing CoTAP US13:30Analyst MeetingY 2014
Bed Bath & Beyond IncBBBY US16:15Q1 2015 Earnings ReleaseQ1 20150.945
Bed Bath & Beyond IncBBBY US17:00Q1 2015 Earnings CallQ1 2015
Public Service Enterprise Group IncPEG USInvestor MeetingY 2014
Questar CorpSTR USRoadshow - Day 3Y 2014
Raymond James Financial IncRJF USMay 2014 Sales and Revenue Release - Operating Data2014

Tuesday, June 24, 2014

Devin Energy - Barchart's Chart of the Day

Devon Energy (DVN) is the Barchart Chart of the Day.   The stock has a Trend Spotter buy signal, a Weighted Alpha of 55.63% and gained 52.24% in the last month.



The Chart of the Day belongs to Devon Energy (DVN). I found the independent energy stock by sorting the New High list for new high frequency in the last month, then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 2/7 the stock gained 29.76%.

DVN is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon currently owns oil and gas properties concentrated in four operating divisions: the Northern Division, the Southern Division, Canada and the International Division.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 9.03% in the last month
  • Relative Strength Index 80.48%
  • Barchart computes a technical support level at 78.28
  • Recently traded at 79.02 with a 50 day moving average of 73.11
Fundamental factors:
  • Market Cap $32.19 billion
  • P/E 15.98
  • Dividend yield 1.22%
  • Revenue predicted to grow 36.80% this year and another 10.90% next year
  • Earnings estimated to increase 35.70% this year, an additional 10.60% next year and continue to increase annually at a rate of 14.27% for the next 5 years
  • Wall Street analysts issued 7 strong buy, 11 buy and 13 hold recommendations on the stock
Energy stocks can rise and fall quickly.  Monitor the 50 day moving average and exit at the 100 day moving average.


5 Smoking Mid Caps

Today I used Barchart to find the Mid Cap stocks with the best momentum, technical indicators and charts.  First I sorted the S&P 400 Mid Cap Index stocks for new high frequency in the last month, then used the Flipchart feature to review the charts for consistent momentum.

Today's list includes Abercrombie & Fitch (ANF), Energizer Holdings (ENR), Intersil (ISIL), Superior Energy Services (SPN) and Unit Corp (UNT):

Abercrombie & Fitch (ANF)


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 2, 50 and 100 day moving averages
  • 18 new highs and up 16.60% in the last month
  • Relative Strength Index 74.44%
  • Barchart computes a technical support level at 42.68
  • Recently traded at 43.17 with a 50 day moving average of 38.26


Barchart technical indicators:
  • 88% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 6.29% in the last month
  • Relative Strength Index 73.74%
  • Barchart computes a technical support level at 120.06
  • Recently traded at 121.15 wit a 50 day moving average of 111.9
Intersil (ISIL)


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 12.60% in the last month
  • Relative Strength Index 72.20%
  • Barchart computes a technical support level at 15.20
  • Recently traded at 15.53 with a 50 day moving average of 13.60


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 2, 50 and 100 day moving averages
  • 15 new highs and up 10.34% in the last month
  • Relative Strength Index 73.71%
  • Barchart computes a technical support level at 35.91
  • Recently traded at 36.52 with a 50 day moving average of 33.25


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 8.49% in the last month
  • Relative Strength index 69.94%
  • Barchart computes a technical support level at 67.35
  • Recently traded at 68.12 with a 50 day moving average of 65.04











BARCHART MORNING CALL 6/24

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU14 -0.18%) this morning are down -0.18% and European stocks are little changed, up +0.01%, after the German Jun IFO business conditions fell more than expected to a 6-month low, a sign that the European economy may be slowing. Losses in European stocks were limited on a possible short-term truce to the hostilities in Ukraine. The ruble strengthened against the dollar and the Russian Micex Stock Index rallied over 1% after pro-Russian forces in Ukraine called for a cease-fire, matching a truce made earlier by Ukraine President Poroshenko. Russian President Putin also asked the Russian house of parliament to cancel approval granted Mar 1 to use force in Ukraine. Asian stocks closed mostly higher: Japan +0.05%, Hong Kong +0.33%, China +0.50%, Taiwan +0.19%, Australia -0.38%, Singapore +0.14%, South Korea +1.16%, India +1.35%. Commodity prices are mixed. Aug crude oil (CLQ14 +0.13%) is up +0.07%. Aug gasoline (RBQ14 +0.14%) is up +0.07%. Aug gold (GCQ14 +0.52%) is up +0.52% at a 2-1/4 month high. July copper (HGN14 +0.03%) is up +0.13%. Agriculture and livestock prices are mixed with grains lower as U.S. crop conditions continue to be favorable, while livestock prices are higher after the USDA's Cold Storage report, released after the markets closed Monday, signaled lower beef and pork supplies. The dollar index (DXY00 -0.06%) is down -0.06%. EUR/USD (^EURUSD) is up +0.11%. USD/JPY (^USDJPY) is down -0.04%. Sep T-note prices (ZNU14 +0.14%) are up +6.5 ticks.
The German Jun IFO business climate fell -0.7 to 109.7, a bigger decline than expectations of -0.1 to 110.3 and the lowest in 6 months. The Jun IFO current assessment was unchanged at 114.8, weaker than expectations of +0.2 to 115.0. The Jun IFO expectations fell -1.4 to 104.8, a bigger decline than expectations of -0.2 to 106.0 and the lowest in 8 months.
U.S. STOCK PREVIEW
Today’s April FHFA home price index is expected to show a solid gain of +0.5% m/m, adding to the +0.7% increase seen in March. Meanwhile, today’s April Case-Shiller composite-20 home price index is expected to show an increase of +0.80% m/m, adding to March’s sharp increase of +1.24% m/m. Today’s May new home sales report is expected to show an increase of +1.6% to 440,000, adding to the +6.4% increase to 433,000 seen in April. Today’s June U.S. consumer confidence index from the Conference Board is expected to show an increase of +0.5 points to 83.5, adding to the +1.3 point increase to 83.0 seen in May. Today’s June Richmond Fed manufacturing index is expected to show a -1 point decline to 6 following the May report of unchanged at 7.
There are two of the Russell 1000 companies that report earnings today: Walgreen (consensus $0.94), Carnival (0.02). Equity conferences this week include: Smart Grid World Conference 2014 on Tue, Global Hunter Securities LLC Energy Conference on Tue-Wed, Oppenheimer Consumer Conference on Tue-Wed, Mobile Pharma Biztech 2014 on Wed-Thu.








OVERNIGHT U.S. STOCK MOVERS
Walgreen (WAG -1.09%) reported Q3 EPS of 91 cents, below consensus of 94 cents.
IDEXX (IDXX +0.52%) was upgraded to 'Buy' from 'Hold' at Canaccord.
O'Reilly Automotive (ORLY -0.77%) was initiated with an 'Overweight' at Morgan Stanley with a price target of $175.
Dr Pepper Snapple (DPS -1.18%) was downgraded to 'Neutral' from 'Buy' at Citigroup.
ITG (ITG -3.05%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
National Retail Properties (NNN -0.85%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Wells Fargo downgraded IntercontinentalExchange (ICE +1.71%) to 'Market Perform' from 'Outperform.'
Aviva (AV -0.23%) was downgraded to 'Neutral' from 'Buy' at UBS.
Cray (CRAY -0.39%) announced that it has been awarded a $54 million contract to provide the Korea Meteorological Administration with supercomputers.
Dean Foods (DF -0.17%) fell over 7% in after-hours trading after Dow Jones reported that the company received subpoenas from federal authorities in an insider trading probe involving activist investor Carl Icahn.
SAB Capital Advisors reported a 9.4% passive stake in Famous Dave's (DAVE -2.80%) .
Priceline reported a 5.1% stake in OpenTable (OPEN +0.35%) .
Micron (MU -1.85%) reported Q3 EPS of 79 cents, well above consensus of 70 cents.
MARKET COMMENTS
Sep E-mini S&Ps (ESU14 -0.18%) this morning are down -3.50 points (-0.18%). The S&P 500 index on Monday closed little changed as the ongoing crisis in Iraq prompted long liquidation pressure. Losses were muted on bullish factors that included (1) reduced Chinese economic concerns after the Jun China HSBC flash manufacturing PMI rose +1.4 to 50.8, stronger than expectations of +0.3 to 49.7 and the fastest rate of expansion in 7 months, and (2) the +4.9% increase in U.S. May existing home sales to 4.89 million, better than expectations of +1.9% to 4.74 million and the highest level in 7 months. Closes: S&P 500 +0.17%, Dow Jones +0.15%, Nasdaq +0.05%.
Sep 10-year T-notes (ZNU14 +0.14%) this morning are up +6.5 ticks. Sep 10-year T-note futures prices on Monday closed little changed. A supportive factor for T-notes was carry-over support from a rally in German bunds after ECB President Draghi signaled that interest rates will probably remain low for at least another 2-1/2 years when he said “We have prolonged banks’ access to unlimited liquidity up to the end of 2016. That is a signal.” T-notes fell back from their best levels after May existing home sales rose more than expected to the highest level in 7 months. Closes: TYU4 -2.50, FVU4 -1.75.
The dollar index (DXY00 -0.06%) this morning is down -0.047 (-0.06%). EUR/USD (^EURUSD) is up +0.0015 (+0.11%). USD/JPY (^USDJPY) is down -0.04 (-0.04%). The dollar index on Monday closed lower on carry-over bearish sentiment toward the dollar after Fed Chair Yellen last Wednesday reiterated that the Fed remains committed to low interest rates for a “considerable time.” EUR/USD fell back after ECB President Draghi said that the recovery “is still weak and unevenly distributed across the Eurozone” and that broad-based asset purchases will be “the answer” if the inflation outlook weakens further. Closes: Dollar Index -0.100 (-0.12%), EUR/USD +0.0004 (+0.03%), USD/JPY -0.107 (-0.10%).
Aug WTI crude oil (CLQ14 +0.13%) this morning is up +7 cents (+0.07%). Aug gasoline (RBQ14 +0.14%) is up +0.0022 (+0.07%). Aug crude and gasoline prices on Monday closed lower. The main bearish factor for oil prices was reduced concerns that Iraqi militants will take over the oil-producing regions of Iraq after government forces regained Iraq’s border crossings with Jordan and Syria. Losses were limited on signs of economic strength in China, the world’s second-largest crude oil consumer, after a gauge of Chinese manufacturing activity expanded at the fastest pace in 7 months. Closes: CLQ4 -0.71 (-0.66%) RBQ4 -0.0152 (-0.49%).
GLOBAL EVENT CALENDAR06/24/2014
US0805 ETPhiladelphia Fed President Charles Plosser speaks to the Economic Club of New York on the economic outlook and monetary policy.
0900 ETApr FHFA house price index expected +0.5% m/m, Mar +0.7% m/m.
0900 ETApr S&P/CaseShiller composite-20 home price index expected +0.80% m/m and +11.50% y/y, Mar +1.24% m/m and +12.37% y/y.
1000 ETU.S. Jun consumer confidence (Conference Board) expected +0.5 to 83.5, May +1.3 to 83.0.
1000 ETJun Richmond Fed manufacturing index expected unch at 7, May unch at 7.
1000 ETMay new home sales expected +1.4% to 440,000, Apr +6.4% to 433,000.
1130 ETTreasury auctions $13 billion 2-year floating rate notes.
1300 ETTreasury auctions $30 billion 2-year T-notes.
GER0400 ETGerman Jun IFO business climate expected -0.1 to 110.3, May 110.4. Jun IFO current assessment expected +0.2 to 115.0, May 114.8. Jun IFO expectations expected -0.2 to 106.0, May 106.2.
JPN1950 ETJapan May corporate service price index expected +3.3% y/y, Apr +3.4% y/y.
U.S. STOCK CALENDAR06/24/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Aon PLCAON US3:00Annual General MeetingY 2014
Walgreen CoWAG US7:30Q3 2014 Earnings ReleaseQ3 20140.935
Walgreen CoWAG US8:30Q3 2014 Earnings CallQ3 2014
NetApp IncNTAP US8:30Analyst DayY 2014
Validus Holdings LtdVR US8:30Acquisition of Western World Insurance Group, Inc by Validus Holdings Ltd Call
Carnival CorpCCL US10:00Q2 2014 Earnings CallQ2 2014
Carnival CorpCCL USQ2 2014 Earnings ReleaseQ2 20140.023
Kennametal IncKMT USFinancial Community Meeting - Day 2Y 2014
Questar CorpSTR USRoadshow - Day 2Y 2014
AT&T IncT USAT&T Inc. - DirectTV Merger Testify Hearing
Nu Skin Enterprises IncNUS USAnnual General Meeting
GameStop CorpGME USAnnual General Meeting
DIRECTVDTV USAT&T Inc. - DirectTV Merger Testify Hearing

Monday, June 23, 2014

CDW Corp - Barchart's Chart of the Day

CDW Corporation (CDW) is the Barchart Chart of the Day. The IT products and services company has a Trend Spotter buy signal, a Weighted alpha of 72.80+ and gained 74.09% in the last year.

The Chart of the Day belongs to CDW Corporation (CDW).  I found the stock by sorting today's New High list by new high frequency in the last month then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 6/4 the stock gained 7.42%.

CDW information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company's software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 18 new highs and up 12.41% in the last month
  • Relative Strength Index 89.05%
  • Barchart computes a technical support level at 31.59
  • Recently traded at 31.98 with a 50 day moving average of 29.30
Fundamental factors:
  • Market Cap $5.50 billion
  • P/E 15.28
  • Dividend yield .55%
  • Revenue predicted to grow 7.30% this year and another 6.00% next year
  • Earnings estimated to increase by 21.30% this year, an additional 11.70% next year and continue to increase by 15.07% annually for the next 5 years
  • Wall Street analysts issued 2 strong buy, 6 buy and 2 hold recommendation on the stock
Solid company with solid numbers.  Use the 100 day moving average as an exit point.



5 Great Large Caps

I wanted to find 5 great large cap stocks so I used Barchart to sort the S&P 500 Large Cap Index stocks.  First I sorted for new high frequency in the last month, then used the Flipchart feature to review the charts.

Today's list includes LAM Research (LRCX), NRG Energy (NRG), Zoetis Class A (ZTS), H & R Block (HRB) and Republic Services (RSG):

LAM Research (LRCX)


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 10.91% in the last month
  • Relative Strength Index 79.57%
  • Barchart computes a technical support level at 65.46
  • Recently traded at 67.36 wit a 50 day moving  average of 59.67
NRG Energy (NRG )

Barchart technical indicators:
  • 88% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 10.20% in the last month
  • Relative Strength Index 59.91%
  • Barchart computes a technical support level at 36.76
  • Recently traded at 37.14 with a 50 day moving average of 34.52


Barchart technical indicators:
  • 80% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 7.01% in the last month
  • Relative Strength Index 67.62%
  • Barchart computes a technical support level at 31.83
  • Recently traded at 32.67 with a 50 day moving average of 30.74



Barchart technical indicators:
  • 80% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 13.72% in the last month
  • Relative Strength Index 79.94%
  • Barchart computes a technical support level at 32.63
  • Recently traded at 33.38 with a 50 day moving average of 29.47


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 10.50% in the last month
  • Relative Strength Index 67.06%
  • Barchart computes a technical support level at 36.76
  • Recently traded at 37.16 with a 50 day moving average of 34.52












BARCHART MORNING CALL 6/23

BARCART MORNING CALL

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU14 +0.05%) this morning are unchanged and European stocks are down % after a composite gauge of European manufacturing and services activity slowed to its slowest pace in 6 months. Another negative for stocks was heightened geopolitical risk as the fighting in Iraq intensified after the al-Queda breakaway group ISIL seized all of Iraq's border crossings with Jordan and Syria. The advances made by ISIL have edged Iraq closer to sectarian strife and an all-out civil war. Losses in stocks were muted after a gauge of Chinese manufacturing activity expanded at the fastest pace in 7 months. Asian stocks closed mixed: Japan +0.13%, Hong Kong -1.68%), China -0.12%, Taiwan -0.49%, Australia +0.62%, Singapore -0.04%, South Korea +0.57%, India -0.30%. Commodity prices are mixed. Aug crude oil (CLQ14 +0.14%) is up +0.12%. Aug gasoline (RBQ14 +0.18%) is up +0.17%. Aug gold (GCQ14 -0.32%) is down -0.39%. July copper (HGN14 +0.74%) is up +0.78% at a 2-1/2 week high on signs of increased Chinese demand after manufacturing growth expanded in China. Agriculture prices are higher on crop concerns after heavy rains inundated the Midwest over the weekend. The dollar index (DXY00 -0.06%) is unchanged. EUR/USD (^EURUSD) is down -0.11% after ECB President Draghi signaled Eurozone interest rates may remain low for another 2-1/2 years. USD/JPY (^USDJPY) is up +0.06%. Sep T-note prices (ZNU14 +0.14%) are up +4 ticks.
The Jun China HSBC flash manufacturing PMI rose +1.4 to 50.8, stronger than expectations of +0.3 to 49.7 and the fastest rate of expansion in 7 months.
The Japan Jun Markit/JMMA manufacturing PMI rose +1.2 to 51.1, better than expectations of +0.2 to 50.1 and the highest in 3 months.
The German Jun Markit/BME manufacturing PMI rose +0.1 to 52.4, less than expectations of +0.2 to 52.5. The Jun Markit services PMI fell -1.2 to 54.8, a bigger decline than expectations of -0.2 to 55.8.
The Eurozone Jun Markit composite PMI fell -0.7 to 52.8, a bigger decline than expectations of -0.1 to 53.4 and the slowest rate of expansion in 6 months.
In an interview with Dutch newspaper De Telegraaf, ECB President Draghi signaled that interest rates will probably remain low for at least another 2-1/2 years when he said "We have prolonged banks' access to unlimited liquidity up to the end of 2016. That is a signal." The recovery "is still weak and unevenly distributed across the Eurozone" and that broad-based asset purchases will be "the answer" if the inflation outlook weakens further.
U.S. STOCK PREVIEW
Today’s May existing home sales report is expected to show a +1.9% increase to 4.74 million, adding to the +1.3% increase to 4.65 million seen in April. There are two of the Russell 1000 companies that report earnings today: Micron Technology (consensus $0.72), Hertz (0.08). Equity conferences this week include: Smart Grid World Conference 2014 on Tue, Global Hunter Securities LLC Energy Conference on Tue-Wed, Oppenheimer Consumer Conference on Tue-Wed, Mobile Pharma Biztech 2014 on Wed-Thu.








OVERNIGHT U.S. STOCK MOVERS
Barclays (BCS -1.05%) was upgraded to 'Buy' from 'Hold' at Canaccord.
Wisconsin Energy (WEC +0.02%) will acquire Integrys Energy (TEG +0.25%) for $9.1 billion.
NVIDIA (NVDA -1.10%) was downgraded to 'Underperform' from 'Sector Perform' at Pacific Crest.
Burlington Stores (BURL +1.12%) were upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Owens Corning (OC -6.03%) was downgraded to 'Neutral' from 'Buy' at Longbow.
Helmerich & Payne (HP +0.44%) was downgraded to 'Market Perform' from 'Outperform' at FBR Capital.
Express (EXPR -0.54%) was upgraded to 'Buy' from 'Neutral' at Janney Capital.
Teradata (TDC -0.93%) was downgraded to 'Market Perform' from 'Outperform' at JMP Securities.
Ashland (ASH +0.32%) was upgraded to 'Buy' from 'Hold' at KeyBanc.
DISH (DISH +2.47%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
AMD (AMD -5.96%) was downgraded to 'Underperform' from 'Sector Perform' at Pacific Crest.
Nordstrom (JWN -0.39%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
SunPower (SPWR +1.10%) was downgraded to 'Hold' from 'Buy' at Brean Capital.
Cubist Pharmaceuticals (CBST +5.38%) announced the U.S. FDA approved its SIVEXTRO drug for the treatment of adult acute bacterial skin and skin structure infections.
MARKET COMMENTS
Sep E-mini S&Ps (ESU14 +0.05%) this morning are unch. The S&P 500 index on Friday rose to yet another record high and closed higher. Bullish factors for stocks included (1) technical buying after the S&P 500 posted record highs for three straight sessions, (2) a rally in health-care stocks and drug makers on increased M&A activity after Shire turned down AbbVie’s offer to buy the company for 27.3 billion pounds ($47 billion), and (3) a rally in gold producers after gold prices climbed to a 2-1/4 month high. Closes: S&P 500 +0.17%, Dow Jones +0.15%, Nasdaq +0.05%.
Sep 10-year T-notes (ZNU14 +0.14%) this morning are up +4 ticks. Sep 10-year T-note futures prices on Friday closed lower. Bearish factors included (1) reduced safe-haven demand for Treasuries as the S&P 500 posted a new all-time high, and (2) inflation concerns after the Treasury 5-year break-even rate, which measures the difference between yields on benchmark 5-year T-notes and similar maturity TIPS, rose to 209 bp, the highest in 13 months. Closes: TYU4 -2.50, FVU4 -1.75.
The dollar index (DXY00 -0.06%) this morning is unch. EUR/USD (^EURUSD) is down -0.0015 (-0.11%). USD/JPY (^USDJPY) is down -0.22 (-0.22%). The dollar index on Friday closed higher. Weakness in EUR/USD helped push the dollar higher after (1) Eurozone Jun consumer confidence unexpectedly fell -0.3 to -7.4, weaker than expectations of -6.5, and (2) the German May PPI that unexpectedly fell -0.2% m/m, weaker than expectations of unch m/m and the fourth decline in the last 5 months, which may push the ECB into its own quantitative easing program. Closes: Dollar Index +0.055 (+0.07%), EUR/USD -0.0009 (-0.07%), USD/JPY +0.122 (+0.12%).
Aug WTI crude oil (CLQ14 +0.14%) this morning is up +13 cents (+0.12%). Aug gasoline (RBQ14 +0.18%) is up +0.0052 (+0.17%). Aug crude and gasoline prices on Friday closed higher. Bullish factors included (1) a rally in the S&P 500 to a new record high, which boosts confidence in the economic outlook and energy demand, and (2) heightened geopolitical risks with NATO’s condemnation of Russia’s increased troop presence along Ukraine’s border and with the escalation of violence in Iraq that may lead to a disruption in supplies of OPEC’s second-largest producer. Closes: CLQ4 +0.78 (+0.74%) RBQ4 +0.0034 (+0.11%).
GLOBAL EVENT CALENDAR06/23/2014
US0830 ETMay Chicago Fed activity index expected +0.52 to 0.20, Apr -0.32.
0945 ETPreliminary Jun Markit manufacturing PMI expected -0.4 to 56.0, May +1.0 to 56.4.
1000 ETMay existing home sales expected +1.9% to 4.74 million, Apr +1.3% to 4.65 million.
1100 ETUSDA weekly grain export inspections.
1500 ETUSDA May Cold Storage.
1600 ETUSDA weekly crop progress.
EUR0300 ETECB Vice President Vitor Constancio speaks at the ESCBs Macro-prudential Research Network conference.
0400 ETEurozone Jun Markit composite PMI expected -0.1 to 53.4, May 53.5.
0800 ETECB Governing Council member Yves Mersch speaks at the European Financial Congress on Is Growth of Competitiveness of the European Economy Possible Without Ensuring Financial Safety?
GER0330 ETGerman Jun Markit/BME manufacturing PMI expected +0.2 to 52.5, May 52.3. Jun Markit services PMI expected -0.2 to 55.8, May 56.0.
UKn/aUK Jun nationwide house prices expected +0.5% m/m and +11.2% y/y, May +0.7% m/m and +11.1% y/y.
U.S. STOCK CALENDAR06/23/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Applied Materials IncAMAT US13:00Extraordinary Shareholders MeetingY 2014
CarMax IncKMX US13:00Annual General MeetingY 2014
Micron Technology IncMU US16:30Q3 2014 Earnings CallQ3 2014
Micron Technology IncMU USAft-mktQ3 2014 Earnings ReleaseQ3 20140.723
Kennametal IncKMT USFinancial Community Meeting - Day 1Y 2014
Questar CorpSTR USRoadshow - Day 1Y 2014
Weyerhaeuser CoWY USAnnual General MeetingY 2014
Hertz Global Holdings IncHTZ USQ1 2014 Earnings ReleaseQ1 20140.078