Friday, April 22, 2016

Ciner Resources - Chart of the Day

Ciner Resources (CINR) is the Barchart Chart of the Day.  The mining partnership has a Trend Spotter buy signal, a Weighted Alpha of 31.30+ and gained 19.80% in the last year while paying a 7.75% dividend.

The Chart of the Day belongs to Ciner Resources (CINR).  I found the mining partnership by using Barchart to sort today's All Time High list first  for the most frequent new highs in the last month, then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 2/23 the stock gained 35.68%.

Ciner Resources LP, a master limited partnership, producers of natural soda ash. It operates the trona ore mining and soda ash production business primarily in the Green River Basin of Wyoming. Ciner Resources LP, formerly known as OCI Resources LP, is based in ATLANTA, United States.


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% technical buy signals
  • Trend Spotter buy signal
  • Above its 20 ,50 and 100 day moving averages
  • 16 new highs and up 14.14% in the last month
  • Relative Strength Index 80.12%
  • Technical support level at 28.16%
  • Recently traded at 29.11 with a 50 day moving average of 24.80
Fundamental factors:
  • Market Cap $285.28 million
  • P/E 11.19
  • Dividend yield 7.75%
  • Revenue expected to grow .80% this year and another 3.90% next year
  • Earnings estimated to be down 4.70% this year but up by 4.90% next year and continue to compound at an annual rate of 15.32% for he next 5 years
  • Wall Street analysts issued 1 strong buy, 1 buy and 1 hold on this stock


Thursday, April 21, 2016

Trinseo - Chart of the Day

Trinseo (TSE) is the Barchart Chart of the Day.  The plastics company has a Trend Spotter buy signal, a Weighted Alpha of 105.40+ and gained 89.72% in the last year.

The Chart of the Day belongs to Trinseo (TSE).  I found the plastics stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 2/17 the stock gained 69.03%

rinseo S.A. is a global materials company and manufacturer of plastics, latex and rubber. The Company's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Its major products include styrene-butadiene latex, styrene-acrylate latex, solution styrene-butadiene rubber, lithium polybutadiene rubber, emulsion styrene-butadiene rubber, nickel polybutadiene rubber, polystyrene, expandable polystyrene, acrylonitrile-butadiene-styrene, styrene-acrylonitrile, ignition resistant polystyrene, polycarbonate resins, compounds and blends, and polypropylene compounds. Trinseo S.A. is based in Berwyn, Pennsylvania.



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:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 22.81% in the last month
  • Relative Strength Index 84.21%
  • Technical support level at 41.63
  • Recently traded at 43.42 with a 50 day moving average of 34.07
Fundamental factors:
  • Market Cap $2.12 billion
  • P/E 9.22
  • Revenue expected to be down .40% this year but up again by 4.80% next year
  • Earnings estimated to increase 17.90% this year , an additional 3.50% next year and continue to compound at an annual rate of 11.08% for the next 5 years
  • Wall Street analysts issued 2 strong buy, 2 buy and 4 hold recommendations on the stock

MORNING CALL 4/21

MORNING CALL
OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps are little changed, up +0.04%, as they consolidate Wednesday's rally in the S&P 500 to a 4-1/2 month high. European stocks fell back from a 3-1/2 month high and are down -0.21% on long liquidation ahead of the results of today's ECB meeting and press conference from ECB President Draghi immediately after. Losses were contained as mining stocks and energy producers moved higher as the price of copper climbed to a 4-week high and the price of crude rose to a 5-1/4 month high. Asian stocks settled mostly higher: Japan +2.70%, Hong Kong +1.82%, China -0.66%, Taiwan +0.64%, Australia +1.09%, Singapore +0.37%, South Korea +0.86%, India +0.14%. Japan's Nikkei Stock Index posted a 2-1/2 month high as exporters rallied after the yen fell to a 2-week low against the dollar and on speculation that the BOJ may expand asset purchases at next week's policy meeting.
The dollar index is down -0.05%. EUR/USD is up +0.13%. USD/JPY is down -0.09%.
Jun T-note prices are down -3.5 ticks at a 3-week low as they were pressured from a fall in German bund prices to a 4-week low.

U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected +12,000 to 265,000, previous -13,000 to 253,000) and continuing claims (expected unch at 2.171 million, previous -18,000 to 2.171 million), (2) Mar Chicago Fed national activity index (expected +0.14 to -0.15, Feb-0.70 to -0.29), (3) Apr Philadelphia Fed business outlook survey (expected -3.4 to 9.0, Mar +15.2 to 12.4), (4) Feb FHFA house price index (expected +0.4% m/m, Jan +0.5% m/m), and (5) Mar leading indicators (expected +0.4%, Feb +0.1%), (6) the Treasury's auction of $16 billion of 5-year TIPS.
There are 36 of the S&P 500 companies that report earnings today with notable reports including: Alphabet (consensus $7.96), Microsoft (0.64), Visa (0.67), Starbucks (0.39), GM (0.99), Verizon (1.06), Under Armour (0.02), Johnson Controls (0.82), PulteGroup (0.20), Bank of NY Mellon (0.68), Fifth Third Bancorp (0.35), Rockwell Collins (1.28).
U.S. IPO's scheduled to price today: SecureWorks Corp (SCWX).
Equity conferences during the remainder of this week: none.
OVERNIGHT U.S. STOCK MOVERS
Newmont Mining (NEM -1.49%) rose nearly 3% in pre-market trading as copper rose toa 4-week high and after it reported Q1 adjusted EPS of 34 cents, higher than consensus of 18 cents.
American Express (AXP +2.28%) rose over 4% in pre-market trading after it reported Q1 EPS of $1.45, higher than consensus of $1.33.
Yum! Brands (YUM +0.49%) climbed nearly 4% in after-hours trading after it reported Q1 adjusted EPS of 95 cents, better than consensus of 83 cents.
Qualcomm (QCOM +0.50%) slid over 3% in pre-market trading after it reported Q2 adjusted EPS of $1.04, higher than consensus of 96 cents, but CEO Mollenkopf signaled that its largest customers may use secondary sources for chips for their smartphones going forward.
Las Vegas Sands (LVS -0.61%) lost 4% in after-hours trading after it reported Q1 adjusted EPS of 45 cents, well below consensus of 63 cents.
F5 Networks (FFIV +1.46%) gained over 4% in after-hours trading after it reported Q2 adjusted EPS of $1.68, higher than consensus of $1.63, and then raised guidance on Q3 adjusted EPS to $1.77-$1.80, higher than consensus of $1.74.
Mattel (MAT -2.57%) dropped over 8% in pre-market trading after it reported a Q1 adjusted loss of -13 cents, a wider loss than consensus of -7 cents.
Packaging Corp. of America (PKG -0.62%) gained 3% in after-hours trading it reported Q1 adjusted EPS of $1.11, above consensus of $1.01.
United Continental Holdings (UAL +0.95%) fell over 2% in after-hours trading after it reported Q1 adjusted EPS of $1.23, higher than consensus of $1.18, but said it sees Q2 passenger revenue per available seat mile (PRASM) falling 6.5%-8.5%.
Kinder Morgan (KMI -0.84%) fell over 1% in pre-market trading after it reported Q1 revenue of $3.2 billion, less than consensus of $3.76 billion.
Citrix Systems (CTXS +0.47%) rose over 6% in after-hours trading after it raised its fiscal-year adjusted EPS estimate to $4.90-$5.00, well above consensus of $4.71.
Tractor Supply (TSCO +0.49%) climbed over 5% in after-hours trading after it reported Q1 EPS of 50 cents, better than consensus of 46 cents.
United Rentals (URI -1.65%) slipped nearly 6% in after-hours trading after it lowered guidance on 2016 revenue to $5.6 billion-$5.8 billion from a January 27 estimate of $5.65 billion-$5.95 billion.
MARKET COMMENTS
June E-mini S&Ps this morning are up +0.75 of a point (+0.04%). Wednesday's closes: S&P 500 +0.08%, Dow Jones +0.24%, Nasdaq -0.01%. The S&P 500 on Wednesday climbed to a 5-1/2 month high and settled higher on the +5.1% increase in U.S. Mar existing home sales to 5.33 million (stronger than expectations of +3.9% to 5.28 million), strength in energy producers after crude oil rallied to a 4-3/4 month high, and mostly upbeat Q1 corporate earnings results thus far.
June 10-year T-note prices this morning are down -3.5 ticks at a fresh 3-week low. Wednesday's closes: TYM6 -19.50, FVM6 -12.00. Jun T-notes on Wednesday fell to a 3-week low and closed lower on the stronger-than-expected U.S. Mar existing home sales report, reduced safe-haven demand with the rally in stocks, and the rise in the 10-year T-note breakeven inflation expectations rate to a 2-week high.
The dollar index this morning is down -0.043 (-0.05%). EUR/USD is up +0.0015 (+0.13%). USD/JPY is down -0.10 (-0.09%). Wednesday's closes: Dollar Index +0.516 (+0.55%), EUR/USD -0.0061 (-0.54%), USD/JPY +0.65 (+0.58%). The dollar index on Wednesday closed higher on the larger-than-expected increase in U.S. Mar existing home sales, on strength in USD/JPY which rose to a 1-1/2 week high as a rally in stocks reduced the safe-haven demand for the yen, and on long liquidation in EUR/USD ahead of Thursday's ECB meeting.
June WTI crude oil is up +3 cents (+0.07%) at a new 5-1/4 month nearest-futures high. June gasoline is up +0.0061 (+0.40%). Wednesday's closes: CLM6 +1.71 (+4.03%), RBM6 +0.0287 (+1.92%). Jun crude and gasoline on Wednesday closed higher with Jun crude at a 4-3/4 month high. Metals prices were boosted by the -0.3% decline in U.S. crude production in the week ended Apr 15 to a 1-1/2 year low of 8.95 million bpd and by the -248,00 bbl decline in Cushing crude oil inventories. Crude oil prices were undercut by the stronger dollar and the end of the 3-day strike by Kuwaiti oil workers.
GLOBAL EVENT CALENDAR04/21/2016
US0830 ETWeekly initial unemployment claims expected +12,000 to 265,000, previous -13,000 to 253,000. Weekly continuing claims expected unch at 2.171 million, previous -18,000 to 2.171 million.
0830 ETMar Chicago Fed national activity index expected +0.14 to -0.15, Feb -0.70 to -0.29.
0830 ETApr Philadelphia Fed business outlook survey expected -3.4 to 9.0, Mar +15.2 to 12.4.
0830 ETUSDA weekly Export Sales.
0900 ETFeb FHFA house price index expected +0.4% m/m, Jan +0.5% m/m.
1000 ETMar leading indicators expected +0.4%, Feb +0.1%.
1100 ETTreasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Apr 25-28).
1300 ETTreasury auctions $16 billion of 5-year TIPS.
UK0430 ETUK Mar retail sales ex-auto fuel expected -0.3% m/m and +3.8% y/y, Feb -0.2% m/m and +4.1% y/y.
0430 ETUK Mar retail sales including auto fuel expected -0.1% m/m and +4.4% y/y, Feb -0.4% m/m and +3.8% y/y.
0430 ETUK Mar public sector net borrowing expected +5.4 billion pounds, Feb +6.5 billion pounds.
EUR0745 ETECB announces interest rate decision.
0830 ETECB President Mario Draghi holds press conference following ECB meeting.
1000 ETEurozone Apr consumer confidence expected +0.6 to -9.3, Mar -0.9 to -9.7.
JPN2200 ETJapan Apr Nikkei manufacturing PMI expected +0.4 to 49.5, Mar 49.1.
U.S. STOCK CALENDAR04/21/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Johnson Controls IncJCI USBef-mktQ2 2016 Earnings ReleaseQ2 20160.816
Nucor CorpNUE USBef-mktQ1 2016 Earnings ReleaseQ1 20160.27
PulteGroup IncPHM USBef-mktQ1 2016 Earnings ReleaseQ1 20160.201
PPG Industries IncPPG USBef-mktQ1 2016 Earnings ReleaseQ1 20161.301
Sherwin-Williams Co/TheSHW USBef-mktQ1 2016 Earnings ReleaseQ1 20161.619
Snap-on IncSNA USBef-mktQ1 2016 Earnings ReleaseQ1 20162.088
BB&T CorpBBT USBef-mktQ1 2016 Earnings ReleaseQ1 20160.643
Southwest Airlines CoLUV USBef-mktQ1 2016 Earnings ReleaseQ1 20160.837
Travelers Cos Inc/TheTRV USBef-mktQ1 2016 Earnings ReleaseQ1 20162.554
Stanley Black & Decker IncSWK USBef-mktQ1 2016 Earnings ReleaseQ1 20161.141
DR Horton IncDHI USBef-mktQ2 2016 Earnings ReleaseQ2 20160.463
Biogen IncBIIB USBef-mktQ1 2016 Earnings ReleaseQ1 20164.458
KeyCorpKEY USBef-mktQ1 2016 Earnings ReleaseQ1 20160.251
Quest Diagnostics IncDGX USBef-mktQ1 2016 Earnings ReleaseQ1 20161.119
Alliance Data Systems CorpADS USBef-mktQ1 2016 Earnings ReleaseQ1 20163.817
Danaher CorpDHR US6:00Q1 2016 Earnings ReleaseQ1 20161.029
Bank of New York Mellon Corp/TheBK US6:30Q1 2016 Earnings ReleaseQ1 20160.677
Fifth Third BancorpFITB US6:30Q1 2016 Earnings ReleaseQ1 20160.345
Rockwell Collins IncCOL US6:30Q2 2016 Earnings ReleaseQ2 20161.28
Dover CorpDOV US7:00Q1 2016 Earnings ReleaseQ1 20160.598
People's United Financial IncPBCT US7:00Q1 2016 Earnings ReleaseQ1 20160.213
Citizens Financial Group IncCFG US7:00Q1 2016 Earnings ReleaseQ1 20160.389
Under Armour IncUA US7:15Q1 2016 Earnings ReleaseQ1 20160.024
Verizon Communications IncVZ US7:30Q1 2016 Earnings ReleaseQ1 20161.055
General Motors CoGM US7:30Q1 2016 Earnings ReleaseQ1 20160.99
Bank of New York Mellon Corp/TheBK US8:00Q1 2016 Earnings CallQ1 2016
Danaher CorpDHR US8:00Q1 2016 Earnings CallQ1 2016
BB&T CorpBBT US8:00Q1 2016 Earnings CallQ1 2016
Stanley Black & Decker IncSWK US8:00Q1 2016 Earnings CallQ1 2016
Union Pacific CorpUNP US8:00Q1 2016 Earnings ReleaseQ1 20161.096
People's United Financial IncPBCT US8:00Q1 2016 Earnings CallQ1 2016
Verizon Communications IncVZ US8:30Q1 2016 Earnings CallQ1 2016
PulteGroup IncPHM US8:30Q1 2016 Earnings CallQ1 2016
Biogen IncBIIB US8:30Q1 2016 Earnings CallQ1 2016
Quest Diagnostics IncDGX US8:30Q1 2016 Earnings CallQ1 2016
Alliance Data Systems CorpADS US8:30Q1 2016 Earnings CallQ1 2016
Under Armour IncUA US8:30Q1 2016 Earnings CallQ1 2016
Union Pacific CorpUNP US8:45Q1 2016 Earnings CallQ1 2016
Travelers Cos Inc/TheTRV US9:00Q1 2016 Earnings CallQ1 2016
Fifth Third BancorpFITB US9:00Q1 2016 Earnings CallQ1 2016
Citizens Financial Group IncCFG US9:00Q1 2016 Earnings CallQ1 2016
Rockwell Collins IncCOL US9:00Q2 2016 Earnings CallQ2 2016
Yum! Brands IncYUM US9:15Q1 2016 Earnings CallQ1 2016
AES Corp/VAAES US9:30Annual General Meeting
Dover CorpDOV US10:00Q1 2016 Earnings CallQ1 2016
Newmont Mining CorpNEM US10:00Q1 2016 Earnings CallQ1 2016
Citigroup IncC US10:00Q1 2016 Earnings Call - Fixed IncomeC1 2016
Snap-on IncSNA US10:00Q1 2016 Earnings CallQ1 2016
Texas Instruments IncTXN US10:00Annual General Meeting
DR Horton IncDHI US10:00Q2 2016 Earnings CallQ2 2016
People's United Financial IncPBCT US10:00Annual General MeetingY 2016
KeyCorpKEY US10:00Q1 2016 Earnings CallQ1 2016
Regions Financial CorpRF US10:00Annual General MeetingY 2016
General Motors CoGM US10:00Q1 2016 Earnings CallQ1 2016
Humana IncHUM US10:30Annual General MeetingY 2016
United Continental Holdings IncUAL US10:30Q1 2016 Earnings CallQ1 2016
Johnson Controls IncJCI US11:00Q2 2016 Earnings CallQ2 2016
PPG Industries IncPPG US11:00Annual General MeetingY 2016
Sherwin-Williams Co/TheSHW US11:00Q1 2016 Earnings CallQ1 2016
JB Hunt Transport Services IncJBHT US11:00Annual General Meeting
United Rentals IncURI US11:00Q1 2016 Earnings CallQ1 2016
Southwest Airlines CoLUV US12:30Q1 2016 Earnings CallQ1 2016
Nucor CorpNUE US14:00Q1 2016 Earnings CallQ1 2016
PPG Industries IncPPG US14:00Q1 2016 Earnings CallQ1 2016
SL Green Realty CorpSLG US14:00Q1 2016 Earnings CallQ1 2016
Huntington Bancshares Inc/OHHBAN US15:00Annual General Meeting
Norfolk Southern CorpNSC US16:15Q1 2016 Earnings ReleaseQ1 20160.972
Norfolk Southern CorpNSC US16:30Q1 2016 Earnings CallQ1 2016
Hanesbrands IncHBI US16:30Q1 2016 Earnings CallQ1 2016
Alphabet IncGOOGL US16:30Q1 2016 Earnings CallQ1 2016
Starbucks CorpSBUX US17:00Q2 2016 Earnings CallQ2 2016
E*TRADE Financial CorpETFC US17:00Q1 2016 Earnings CallQ1 2016
Visa IncV US17:00Q2 2016 Earnings CallQ2 2016
Schlumberger LtdSLB USAft-mktQ1 2016 Earnings ReleaseQ1 20160.39
Southwestern Energy CoSWN USAft-mktQ1 2016 Earnings ReleaseQ1 2016-0.215
Microsoft CorpMSFT USAft-mktQ3 2016 Earnings ReleaseQ3 20160.638
Starbucks CorpSBUX USAft-mktQ2 2016 Earnings ReleaseQ2 20160.39
E*TRADE Financial CorpETFC USAft-mktQ1 2016 Earnings ReleaseQ1 20160.329
Crown Castle International CorpCCI USAft-mktQ1 2016 Earnings ReleaseQ1 20161.038
Hanesbrands IncHBI USAft-mktQ1 2016 Earnings ReleaseQ1 20160.219
Visa IncV USAft-mktQ2 2016 Earnings ReleaseQ2 20160.667
Alphabet IncGOOGL USAft-mktQ1 2016 Earnings ReleaseQ1 20167.963
Microsoft CorpMSFT US17:30Q3 2016 Earnings CallQ3 2016
Intuitive Surgical IncISRG US18:00Annual General Meeting
Kraft Heinz Co/TheKHC USAnnual General Meeting

Wednesday, April 20, 2016

Curtiss-Wright - Chart of the day

Curtiss-Wright (CW) is the Barchart Chart of the Day.  The aerospace defense company has a Trend Spotter buy signal a Weighted Alpha of 10.10+ and gained 2.52% in the last year.

The Chart of the Day belongs to Curtiss-Wright (CW).  I found the aerospace defense stock by using Barchart to sort today's All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signals above 80%.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 2/25 the stock rose 10.49%.

Curtiss - Wright produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy.


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:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 5.97% in the last month
  • Relative Strength Index 69.80%
  • Technical support level at 76.73
  • Recently traded at 77.76 with a 50 day moving average of 71.81
Fundamental factors:
  • Market Cap $3.56 Billion
  • P/E 19.61
  • Dividend yield .67%
  • Revenue expected to be down .30% this year but up again by 2.70% next year
  • Earnings estimated to increase 1.50% this year, an additional 11.00% next year and continue to compound at an annual rate of 11.10% for the next 5 years
  • Wall Street analysts issued 2 strong buy, 4 buy and 1 hold recommendation on the stock

5 Mid Caps for MOmentum Investors

Today I used Barchart to sort the S&P 400 Mid Cap Index stocks first for the most frequent number of new highs in the last month then again for technical buy signals of 80% or more.  Next I used the Flipchart feature to review the chart for consistency.  Today's watch list includes:

Steel Dynamics (STID, Hill-Rom (HRC), RPM International (RPM), Potlach (PCH), and Greif Bros (GEF)

Steel Dynamics (STLD)


Barchart technical indicators:
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 12.38% in the last month
  • Relative Strength index 74.22%
  • Technical support level at 24.13
  • Recently traded at 24.69 with a 50 day moving average of 20.98
Hill-Rom (HRC)


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 14.46% in the last month
  • Relative Strength Index 71.54%
  • Technical support level at 52.86
  • Recently traded at 53.97 with a 50 day moving average of 48.54


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 14.04% in the last month
  • Relative Strength Index 81.55%
  • Technical support level at 60.65
  • Recently traded at 51.42 with a 50 day moving average of 44.49
Potlach (PCH)


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 9.90% in the last month
  • Relative Strength Index 72.76%
  • Technical support level at 33.56
  • Recently traded at 33.95 with a 50 day moving average of 29.56
Greif Bros (GEF)


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 16.89% in the last month
  • Relative Strength Index 73.14%
  • Technical support level at 34.45
  • Recently traded at 36.04 with a 50 day moving average of 29.46









MORNING CALL 4/20

MORNING CALL

OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 +0.18%) are unchanged as a nearly 2% decline in Intel in pre-market trading undercuts technology stocks. Also, energy producers are lower and weighing on the overall market as crude oil (CLM16 -1.48%) falls -1.77% in early trade after Kuwait oil workers ended their 3-day strike. Sings of increased M&A activity limited declines in equities after a consortium led by Apex Technology and PAG Asia Capital acquired Lexmark International for $3.6 billion. European stocks are up +0.23%, led by a rally in mining stocks, as both BHP Billiton Ltd. and Rio Tinto Group climbed 3% as the price of iron ore rose after BHP cut its iron ore production forecast for its Australian operations. Asian stocks settled mixed: Japan +0.19%, Hong Kong -0.93%, China -2.31%, Taiwan 01.38%, Australia +0.52%, Singapore -0.06%, South Korea -0.25%, India +0.11%. Chinese stocks tumbled on speculation of reduced stimulus from China's central bank after PBOC research bureau chief economist Ma Jun said that future policy operations will pay attention to heading off macroeconomic risks. Japan’s Nikkei Stock Index rallied to a 3-week high after Japanese trade data showed Japan exports and imports fell less than expected last month.
The dollar index (DXY00 +0.05%) is up +0.10%. EUR/USD (^EURUSD) is up +0.11%. USD/JPY (^USDJPY) is up +0.02%.
Jun T-note prices (ZNM16 -0.01%) are up +1 tick.
PBOC research bureau chief economist Ma Jun said that future policy operations, while observing the need to continue to support growth, will also pay attention to heading off macroeconomic risks, especially an over-expansion of corporate leverage. This suggests that the PBOC is satisfied with the results of its current easing measures and may not add to them as that risks creating bubbles in financial markets.
German Mar PPI was unch m/m and fell -3.1% y/y, weaker than expectations of +0.2% m/m and -2.9% y/y, with the -3.1% y/y fall the largest year-on-year decline in 6 years.
Japan’s Mar trade balance was in surplus by 755.0 billion yen, narrower than expectations of a 834.6-billion-yen surplus. Mar exports fell -6.8% y/y, less than expectations of -7.0% y/y and Mar imports fell -14.9% y/y, a smaller decline than expectations of -16.6% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +10.0% with purchase sub-index +8.4% and refi sub-index +11.3%), and (2) Mar existing home sales (expected +3.9% to 5.28 million, Feb -7.1% to 5.08 million).
There are 25 of the S&P 500 companies that report earnings today with notable reports including: American Express (consensus $1.33), Abbott Labs (0.39), Coca-Cola (0.44), Kinder Morgan (0.19), Citrix (0.92), Newmont Mining (0.18), Yum Brands (0.83).
U.S. IPO's scheduled to price today: American Rental Associates (ARA).
Equity conferences during the remainder of this week include: American Academy Of Neurology Meeting on Mon-Wed, American Association for Cancer Research Meeting on Mon-Wed, Rx Sample Management and logistics Summit on Tue-Wed.
OVERNIGHT U.S. STOCK MOVERS
Intel (INTC -0.16%) lost nearly 2% in pre-market trading after it said Q2 net revenue will be about $13.5 billion, below consensus of $14.2 billion, and said it will cut 12,000 jobs, or 11% of its workforce.
Halliburton (HAL +2.69%) declined 1% in pre-market trading as the price of crude oil is down -1.77% in early trade.
Lexmark International (LXK +0.99%) jumped over 10% in pre-market-trading after it was acquired by a consortium led by Apex Technology and PAG Asia Capital for $3.6 billion.
Boeing (BA +0.54%) slipped 2% in pre-market trading after Bank of America downgraded it to 'Underperform' from 'Neutral.'
Yahoo! (YHOO -0.52%) climbed over 1% in after-hours trading after it reported Q1 adjusted Ebitda of $147 million, above consensus of $115.9 million.
Intuitive Surgical (ISRG -0.52%) gained nearly 2% in after-hours trading after it reported Q1 adjusted EPS of $4.42, better than consensus of $4.33.
Global Payments (GPN -0.42%) rose over 1% in after-hours trading when it was announced that it will replace GameStop GME in the S&P 500 at the end of trading on Friday, April 22.
Discover Financial Services (DFS +1.15%) climbed 4% in after-hours trading after it reported Q1 EPS of $1.35, better than consensus of $1.29.
VMware (VMW -0.44%) jumped over 10% in after-hours trading after it reported Q1 adjusted EPS of 86 cents, higher than consensus of 84 cents, and said it authorized a $1.2 billion stock buyback program.
Woodward (WWD +0.04%) slid over 2% in after-hours trading after it reported Q2 adjusted EPS of 65 cents, below consensus of 66 cents.
Interactive Brokers Group (IBKR -0.55%) rose nearly 4% in after-hours trading after it reported Q1 comprehensive EPS of 60 cents, well above consensus of 47 cents.
Manhattan Associates (MANH +0.51%) gained over 7% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $1.73-$1.76 from a February 2 estimate of $1.69-$1.72, above consensus of $1.71.
CalAmp (CAMP +1.69%) fell over 7% in after-hours trading after it said it sees fiscal 2017 adjusted EPS from continuing operations of $1.15-$1.35, below consensus of $1.43.
MARKET COMMENTS
June E-mini S&Ps (ESM16 +0.18%) this morning are unchanged. Tuesday's closes: S&P 500 +0.31%, Dow Jones +0.27%, Nasdaq -0.62%. The S&P 500 on Tuesday rose to a 4-1/2 month high and closed higher on strength in energy-producer stocks as crude oil rallied 3%, on a rally in commodity producers after silver surged +4.4% to a 10-1/2 month high, and on a decent start to Q1 corporate earnings season. Stock prices were undercut by the-8.8% decline in U.S. Mar housing starts to a 5-month low of 1.089 million, weaker than expectations of -1.1% to 1.166 million.
June 10-year T-note prices (ZNM16 -0.01%) this morning are up +1 tick. Tuesday's closes: TYM6 -4.50, FVM6 -4.00. Jun T-notes on Tuesday closed lower on reduced safe-haven demand for T-notes with the rally in he S&P 500 to a 4-1/2 month high, on the rise in the 10-year T-note breakeven inflation expectations rate to a 2-week high, and on hawkish comments from Boston Fed President Rosengren who said "we will be raising rates faster than what's reflected in the financial markets."
The dollar index (DXY00 +0.05%) this morning is up +0.096 (+0.10%). EUR/USD (^EURUSD) is up +0.0012 (+0.11%). USD/JPY (^USDJPY) is up +0.02 (+0.02%). Tuesday's closes: Dollar Index -0.514 (-0.54%), EUR/USD +0.0045 (+0.40%), USD/JPY +0.39 (+0.36%). The dollar index on Tuesday closed lower on the weaker-than-expected U.S. Mar housing starts report and on strength in EUR/USD after the German Apr ZEW expectations index rose more than expected to a 4-month high.
June WTI crude oil (CLM16 -1.48%) is down -75 cents (-1.77%). June gasoline (RBM16 -0.66%) is down -0.0107 (-0.71%). Tuesday's closes: CLM6 +1.28 (+3.11%), RBM6 +0.0428 (+2.94%). Jun crude oil and gasoline on Tuesday settled higher on a weaker dollar, the third day of the Kuwaiti oil workers strike that has slashed Kuwait oil production by 50%, and the rally in the S&P 500 to a 4-1/2 month high.
GLOBAL EVENT CALENDAR04/20/2016
US0700 ETWeekly MBA mortgage applications, previous +10.0% with purchase sub-index +8.4% and refi sub-index +11.3%.
1000 ETMar existing home sales expected +3.9% to 5.28 million, Feb -7.1% to 5.08 million.
1030 ETEIA Weekly Petroleum Status Report.
JPN0200 ETRevised Japan Mar machine tool orders.
GER0200 ETGerman Mar PPI expected +0.2% m/m and -2.9% y/y, Feb -0.5% m/m and -3.0% y/y.
UK0430 ETUK Mar jobless claims change expected -10,000, Feb -18,000. Mar claimant count rate expected unch at 2.1%.
0430 ETUK Feb avg weekly earnings expected +2.3% 3-mon avg y/y, Jan +2.1% 3-mon avg y/y. Feb avg weekly earnings ex-bonus expected +2.1% 3-mon avg y/y, Jan +2.2% 3-mon avg y/y.
0430 ETUK ILO unemployment rate expected +5.1% 3-months through Feb, previous 5.1% 3-months through Jan.
U.S. STOCK CALENDAR04/20/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Abbott LaboratoriesABT USBef-mktQ1 2016 Earnings ReleaseQ1 20160.393
Coca-Cola Co/TheKO USBef-mktQ1 2016 Earnings ReleaseQ1 20160.444
Textron IncTXT USBef-mktQ1 2016 Earnings ReleaseQ1 20160.516
Huntington Bancshares Inc/OHHBAN USBef-mktQ1 2016 Earnings ReleaseQ1 20160.201
US BancorpUSB USBef-mktQ1 2016 Earnings ReleaseQ1 20160.758
Amphenol CorpAPH USBef-mktQ1 2016 Earnings ReleaseQ1 20160.565
TE Connectivity LtdTEL USBef-mktQ2 2016 Earnings ReleaseQ2 20160.891
Nielsen Holdings PLCNLSN USBef-mktQ1 2016 Earnings ReleaseQ1 20160.501
EMC Corp/MAEMC US7:00Q1 2016 Earnings ReleaseQ1 20160.334
St Jude Medical IncSTJ US7:15Q1 2016 Earnings ReleaseQ1 20160.885
EQT CorpEQT US8:00Annual General MeetingY 2016
Illinois Tool Works IncITW US8:00Q1 2016 Earnings ReleaseQ1 20161.259
Textron IncTXT US8:00Q1 2016 Earnings CallQ1 2016
St Jude Medical IncSTJ US8:00Q1 2016 Earnings CallQ1 2016
Navient CorpNAVI US8:00Q1 2016 Earnings CallQ1 2016
Nielsen Holdings PLCNLSN US8:00Q1 2016 Earnings CallQ1 2016
EMC Corp/MAEMC US8:30Q1 2016 Earnings CallQ1 2016
TE Connectivity LtdTEL US8:30Q2 2016 Earnings CallQ2 2016
Abbott LaboratoriesABT US9:00Q1 2016 Earnings CallQ1 2016
Coca-Cola Co/TheKO US9:00Q1 2016 Earnings CallQ1 2016
Huntington Bancshares Inc/OHHBAN US9:00Q1 2016 Earnings CallQ1 2016
US BancorpUSB US9:00Q1 2016 Earnings CallQ1 2016
Stanley Black & Decker IncSWK US9:30Annual General Meeting
Illinois Tool Works IncITW US10:00Q1 2016 Earnings CallQ1 2016
SanDisk CorpSNDK US10:00Webinar - GleSYS success story
Newmont Mining CorpNEM US11:00Annual General MeetingY 2016
Linear Technology CorpLLTC US11:30Q3 2016 Earnings CallQ3 2016
Amphenol CorpAPH US13:00Q1 2016 Earnings CallQ1 2016
Stryker CorpSYK US16:00Q1 2016 Earnings ReleaseQ1 20161.202
F5 Networks IncFFIV US16:00Q2 2016 Earnings ReleaseQ2 20161.627
Kinder Morgan Inc/DEKMI US16:00Q1 2016 Earnings ReleaseQ1 20160.187
Tractor Supply CoTSCO US16:01Q1 2016 Earnings ReleaseQ1 20160.464
Mattel IncMAT US16:05Q1 2016 Earnings ReleaseQ1 2016-0.074
Citrix Systems IncCTXS US16:05Q1 2016 Earnings ReleaseQ1 20160.924
Stryker CorpSYK US16:30Q1 2016 Earnings CallQ1 2016
F5 Networks IncFFIV US16:30Q2 2016 Earnings CallQ2 2016
Kinder Morgan Inc/DEKMI US16:30Q1 2016 Earnings CallQ1 2016
QUALCOMM IncQCOM US16:45Q2 2016 Earnings CallQ2 2016
Citrix Systems IncCTXS US16:45Q1 2016 Earnings CallQ1 2016
American Express CoAXP US17:00Q1 2016 Earnings CallQ1 2016
Danaher CorpDHR US17:00ITC Final Decision Due in Instradent vs. Danaher Corp. Patent Case
Mattel IncMAT US17:00Q1 2016 Earnings CallQ1 2016
Lam Research CorpLRCX US17:00Q3 2016 Earnings CallQ3 2016
Tractor Supply CoTSCO US17:00Q1 2016 Earnings CallQ1 2016
American Express CoAXP USAft-mktQ1 2016 Earnings ReleaseQ1 20161.331
Newmont Mining CorpNEM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.182
Lam Research CorpLRCX USAft-mktQ3 2016 Earnings ReleaseQ3 20161.087
QUALCOMM IncQCOM USAft-mktQ2 2016 Earnings ReleaseQ2 20160.962
SL Green Realty CorpSLG USAft-mktQ1 2016 Earnings ReleaseQ1 20161.657
Yum! Brands IncYUM USAft-mktQ1 2016 Earnings ReleaseQ1 20160.83
United Rentals IncURI USAft-mktQ1 2016 Earnings ReleaseQ1 20161.201
United Continental Holdings IncUAL USAft-mktQ1 2016 Earnings ReleaseQ1 20161.18
CR Bard IncBCR USAnnual General Meeting
Sherwin-Williams Co/TheSHW USAnnual General Meeting