Morning Call 10/11

Barchart Morning Call

Barchart.com - 32 minutes ago

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 -0.12%) this morning are down -0.06% ahead of the minutes of the Sep 19-20 FOMC meeting that may provide confirmation of a Fed rate hike in Dec. European stocks are up +0.15%, led by a +1.54% jump in Spain's Ibex Stock Index, after Catalan President Puigdemont retreated from his previous hardline stance of independence and said he would seek talks with the Spanish government over the future of Catalonia. Spain's Prime Minister Rajoy convened an extraordinary meeting of his cabinet today to discuss his next move, which may include triggering Article 155 of Spain's Constitution that would suspend Catalonia's government and assert direct control from Madrid. European stocks also found support on upbeat comments from ECB Governing Council member Visco who said the economic recovery in the Eurozone is gaining momentum. Energy stocks also moved higher as Nov WTI crude oil (CLX17 +0.71%) climbed +0.77% to a 1-week high. Asian stocks settled mostly higher: Japan +0.28%, Hong Kong -0.36%, China +0.16%, Taiwan +1.03%, Australia +0.59%, Singapore -0.26%, South Korea +1.13%, India -0.28%. Japan's Nikkei Stock Index rallied to a new 2-year high and found support on signs of economic strength after Japan Aug core machine orders rose a more-than-expected +4.4% y/y, the biggest increase in 6-months.

The dollar index (DXY00 -0.10%) is down -0.11% at a 1-week low. EUR/USD (^EURUSD) is up +0.12% at a 2-week high. USD/JPY (^USDJPY) is down -0.20%.

Dec 10-year T-note prices (ZNZ17 -0.07%) are down -2.5 ticks.

Japan Aug core machine orders rose +3.4% m/m and +4.4% y/y, stronger than expectations of +1.0% m/m and +0.7% y/y with the +4.4% y/y gain the largest year-on-year increase in 6-months.

ECB Governing Council member and Bank of Italy Governor Visco said the "economic recovery in the Eurozone is gaining momentum and becoming more widespread across member countries."

ECB Governing Council member Smets said the Eurozone economy is "behaving better," but the ECB's latest assessment "was clear that inflation still needs to be supported by monetary policy."

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -0.4% with purchase sub-index +1.0% and refi sub-index -1.8%), (2) Chicago Fed President Charles Evans (voter) takes part in a moderated discussion on the economy and monetary policy, (3) Aug JOLTS job openings (expected -10,000 to 6.16 million, Jul +54,000 to 6.17 million), (4) Treasury auctions $24 billion of 3-year T-notes and $20 billion of 10-year T-notes, (5) minutes of the Sep 19-20 FOMC meeting, (6) San Francisco Fed President John Williams gives a "Community Leaders Speech" at an event in San Francisco.

Notable Russell 1000 earnings reports today include: Blackrock (consensus $5.55), Fastenal (0.50), Delta (1.53), Bank of the Ozarks (0.74), Commerce Bancshares (0.74).

U.S. IPO's scheduled to price today: OrthoPediatrics (KIDS), Cargurus (CARG).

Equity conferences this week: Cerner Health Conference on Mon-Wed, HR Technology Conference on Tue-Fri, National HUBZone Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Coach (COH +0.81%) was downgraded to 'Equal-Weight' from 'Overweight' at Consumer Edge Research.

Groupon (GRPN -1.38%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.

Delta Air Lines (DAL +1.86%) rose 2% in pre-market trading after it reported Q3 adjusted EPS of $1.57, better than expectations of $1.52.

Visa (V +0.28%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities with a price target of $120.

PayPal (PYPL -0.29%) was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley with a price target of $76.

Exelon (EXC +0.68%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs with a price target of $35.

FedEx (FDX +0.06%) was initiated with an 'Overweight' at KeyBanc Capital Markets with a 12-month target price of $260.

Electronic Arts (EA -0.67%) was initiated with a 'Buy' at SunTrust Robinson Humphrey with a 12-month target price of $133.

AnaptysBio (ANAB +101.17%) announced that it intends to offer 3 million shares of its common stock in an underwritten public offering.

Micron (MU +2.49%) fell nearly 5% in after-hours trading after it announced that it intends to offer $1 billion of shares of its common stock in an underwritten public offering.

Flexion Therapeutics (FLXN -3.79%) tumbled nearly 6% in after-hours trading after it announced that it intends to offer 4 million shares of its common stock in an underwritten public offering.

Barracuda Networks (CUDA +0.04%) slid 6% in after-hours trading after it forecast Q3 revenue of $92.5 million-$94.5 million, the midpoint below consensus of $94.4 million.

Eagle Bancorp Montana (EBMT +1.86%) slid over 5% in after-hours trading after it announced that it intends to offer $18 million of its common stock in an underwritten public offering.

VOXX International (VOXX +1.18%) dropped 10% in after-hours trading after it said its Q2 gross margin shrank -240 basis points.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 -0.12%) this morning are down -1.50 points (-0.06%). Tuesday's closes: S&P 500 +0.23%, Dow Jones +0.31%, Nasdaq +0.08%. The S&P 500 on Tuesday posted a new record high and closed higher on strength in consumer stocks led by a +4% jump in Wal-Mart to a 2-1/2 year high and a rally in energy stocks after crude oil prices climbed +2.70%. There was also a rally in airline stocks after American Airlines raised its Q3 revenue forecast and United Continental Airlines predicted bigger profit margins. Stocks were also boosted by the IMF's hike in its global 2017 GDP forecast to 3.6% from a Jul estimate of 3.5%.

Dec 10-year T-note prices (ZNZ17 -0.07%) this morning are down -2.5 ticks. Tuesday's closes: TYZ7 +5.50, FVZ7 +2.50. Dec 10-year T-notes on Tuesday closed higher on continued safe-haven demand from the Catalonia separatist threat and from the threat to tax reform due to President Trump's feud with Republican Senator Bob Corker.

The dollar index (DXY00 -0.10%) this morning is down -0.098 (-0.11%) at a 1-week low. EUR/USD (^EURUSD) is up +0.0014 (+0.12%) at a 2-week high and USD/JPY (^USDJPY) is down -0.22 (-0.20%). Tuesday's closes: Dollar Index -0.385 (-0.41%), EUR/USD +0.0068 (+0.58%), USD/JPY -0.23 (-0.20%). The dollar index on Tuesday fell to a 1-week low and closed lower on concern that President Trump's feud with Republican Senator Corker may unravel Republican support for his tax overhaul plan. The dollar was also undercut by the drop in the 10-year T-note yield, which hurt the dollar's interest rate differentials.

Nov crude oil (CLX17 +0.71%) this morning is up +39 cents (+0.77%) at a 1-week high and Nov gasoline (RBX17 +1.34%) is +0.0086 (+0.54%). Tuesday's closes: Nov WTI crude +1.34 (+2.70%), Nov gasoline +0.0321 (+2.06%). Nov crude oil and gasoline on Tuesday closed higher on the fall in the dollar index to a 1-week low and Saudi Aramco's 560,000 bpd cut in its crude oil allocations to customers next month to help curb global crude inventories. Crude oil prices also found support on expectations for EIA crude inventories on Thursday to fall -750,000 bbl.

Metals prices this morning are lower with Dec gold (GCZ17 -0.12%) -1.8 (-0.14%), Dec silver (SIZ17 -0.22%) -0.047 (-0.27%) and Dec copper (HGZ17 -0.08%) -0.002 (-0.07%). Tuesday's closes: Dec gold +8.8 (+0.68%), Dec silver +0.236 (+1.39%), Dec copper +0.0295 (+0.97%). Metals on Tuesday closed higher with Dec gold at a 1-1/2 week high, Dec silver at a 2-week high and Dec copper at a 4-week high. Metals prices were boosted by the slide in the dollar index to a 1-week low and safe-haven demand for precious metals on political risks from Spain with Catalonia's threat to secede from Spain. Copper was supported by tighter copper supplies after LME copper inventories fell -1,125 MT to a 3-week low of 289,875 MT.

GLOBAL EVENT CALENDAR10/11/2017

		Wednesday, Oct 11
US	0700 ET	Weekly MBA mortgage applications, previous -0.4% with purchase sub-index +1.0% and refi sub-index -1.8%.
	0715 ET	Chicago Fed President Charles Evans (voter) takes part in a moderated discussion on the economy and monetary policy.
	1000 ET	Aug JOLTS job openings expected -10,000 to 6.16 million, Jul +54,000 to 6.17 million.
	1130 ET	Treasury auctions $24 billion of 3-year T-notes
	1300 ET	Treasury auctions $20 billion of 10-year T-notes.
	1400 ET	Minutes of the Sep 19-20 FOMC meeting.
	1440 ET	San Francisco Fed President John Williams gives a ?Community Leaders Speech? at an event in San Francisco.
		Thursday, Oct 12
US	0830 ET	Weekly initial unemployment claims expected -8,000 to 252,000, previous -12,000 to 260,000. Weekly continuing claims expected -8,000 to 1.930 million, previous +2,000 to 1.938 million.
	0830 ET	Sep PPI final demand expected +0.4% m/m and +2.6% y/y, Aug +0.2% m/m and +2.4% y/y. Sep PPI ex food & energy expected +0.2% m/m and +2.0% y/y, Aug +0.1% m/m and +2.0% y/y.
	1015 ET	Fed Governor Lael Brainard and ECB President Mario Draghi speak on a monetary policy panel at the Peterson Institute for International Economics in Washington D.C.
	1030 ET	Fed Governor Jerome Powell delivers keynote address at a Institute of International Finance conference on emerging markets.
	1100 ET	Treasury announces amount of 30-year TIPS to be auctioned Oct 19 (previous $5 billion).
	1100 ET	EIA weekly Petroleum Status Report.
	1200 ET	USDA Oct WASDE crop production report.
	1300 ET	Treasury auctions $12 billion of 30-year T-bonds.

U.S. STOCK CALENDAR10/11/2017

Name	Ticker	Time	Description	Period	Estimate
Bank of the Ozarks	OZRK US	Bef-mkt	Q3 2017 Earnings Release	Q3 17	0.74
BlackRock Inc	BLK US	06:30	Q3 2017 Earnings Release	Q3 17	5.55
Fastenal Co	FAST US	07:00	Q3 2017 Earnings Release	Q3 17	0.499
Delta Air Lines Inc	DAL US	07:00	Q3 2017 Earnings Release	Q3 17	1.534
BlackRock Inc	BLK US	08:30	Q3 2017 Earnings Call	Q3 17
Kroger Co/The	KR US	09:00	Investor Conference
Fastenal Co	FAST US	10:00	Q3 2017 Earnings Call	Q3 17
Delta Air Lines Inc	DAL US	10:00	Q3 2017 Earnings Call	Q3 17
Paychex Inc	PAYX US	10:00	Annual General Meeting
Bank of the Ozarks	OZRK US	11:00	Q3 2017 Earnings Call	Q3 17
Commerce Bancshares Inc/MO	CBSH US		Q3 2017 Earnings Release	Q3 17	0.743
Western Digital Corp	WDC US	12:30	Analyst Meeting
Veeva Systems Inc	VEEV US	16:00	Analyst and Investor Day

MORNING CALL 1/26

MORNING CALL

Tuesday, January 26th, 2016View Older Reports

Everything you need to know about the markets in one free daily newsletter.

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 +0.35%) are up +0.28% and European stocks are up +0.11% as they mirror movements in oil prices which are up +0.86%. Global stocks were under pressure from Chinese economic concerns after China's Shanghai Composite plunged -6.42% to a 13-1/2 month low. On the positive side, mining stocks rose as the price of gold (GCG16 +0.69%) climbed +0.59% to a 2-1/2 month high and copper prices (HGH16 +1.53%) rose +1.33% to a 2-week high. Signs of stronger Chinese demand is giving metals prices a boost after Chinese customs data showed China Dec imports of refined copper surged +34% y/y to 423,000 MT and China Dec gold imports from Hong Kong surged +67% from Nov to 111.3 MT. European stocks also gained as Siemens AG rose after it boosted its earnings forecast and Royal Philips NV jumped over 5% after it reported better-than-expected Q4 profit. Asian stocks settled lower: Japan -2.35%, Hong Kong -2.45%, China -6.42%, Taiwan -0.83%, Australia and India closed for holiday, Singapore -1.43%, South Korea -1.31%.

The dollar index (DXY00 +0.02%) is up +0.09%. EUR/USD (^EURUSD) is down -0.21%. USD/JPY (^USDJPY) is up +0.12%.

Mar T-note prices (ZNH16 +0.11%) are up +5 ticks on the heels of a rally in German bunds as the 10-year bund yield fell to a 4-3/4 month low of 0.432%.

The PBOC added 440 billion yuan ($67 billion) into the financial system via reverse-repurchase agreements, the most in 3 years, as it tries to keep borrowing costs down and boost liquidity ahead of the Chinese Lunar New Year holiday that begins Feb 8.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) the first day of the FOMC's 2-day policy meeting, (2) Nov FHFA house price index (expected +0.5% m/m, Oct +0.5% m/m), (3) Nov S&P/CaseShiller composite-20 home price index (expected +0.80% m/m and +5.64% y/y, Oct +0.84% m/m and +5.54% y/y), (4) Jan Markit services PMI (expected -0.3 to 54.0, Dec -1.8 to 54.3), (5) Jan U.S. consumer confidence from the Conference Board (expected unch at 96.5, Dec +3.9 to 96.5), (6) Jan Richmond Fed manufacturing index (expected -4 to 2, Dec +9 to 6), and (7) the Treasury's auction of $26 billion 2-year T-notes.

There are 23 of the S&P 500 companies that report earnings today with notable reports including: Apple (consensus $3.23), AT&T (0.63), Capital One (1.61), Johnson & Johnson (1.42), Procter & Gamble (0.98).

U.S. IPO's scheduled to price today: Ameriquest (AMQ).

Equity conferences during the remainder of this week: Cleantech Forum San Francisco on Tue-Wed, Real Estate Capital Markets 2016 Seminar on Wed.

OVERNIGHT U.S. STOCK MOVERS

Lockheed Martin (LMT -0.49%) reported Q4 EPS of $3.76, well above consensus of $2.94.

Procter & Gamble (PG -0.66%) reported Q2 EPS of $1.04, higher than consensus of 98 cents.

Johnson & Johnson (JNJ -0.36%) reported Q4 EPS of $1.44, better than consensus of $1.42.

PG&E Corp. (PCG -1.43%) was upgraded to 'Overweight' from 'Equalweight' at Morgan Stanley.

Crane Co. (CR -2.75%) dropped over 4% in after-hours trading after it lowered guidance on fiscal 2016 EPS to $3.85-$4.15, below consensus of $4.27.

Graco (GGG -2.02%) reported Q4 adjusted EPS of 93 cents, well above estimates of 78 cents.

Rambus (RMBS -1.75%) rallied over 7% in after-hours trading after it reported Q4 adjusted EPS of 18 cents, better than consensus of 15 cents.

Centene (CNC -2.71%) slid almost 2% in after-hours trading after it said six hard drives with health information on 950,000 were unaccounted for.

Swift Transportation (SWFT -1.51%) climbed nearly 5% in after-hours trading after it reported Q4 adjusted EPS of 53 cents, higher than consensus of 47 cents.

SunEdison (SUNE +2.64%) gained over 2% in after-hours trading after SunEdison stakeholder Greenlight Capital reported that it raised its stake in 13D to 6.8% from 5.9% reported September 30.

Relypsa (RLYP +0.05%) jumped over 8% in after-hours trading after it said studies showed no meaningful reduction in absorption for 9 of 12 drugs that had previously demonstrated binding in vitro tests when its Veltassa drug was administered at the same time.

Aratana Therapeutics (PETX +1.59%) surged nearly 10% in after-hours trading after it filed New Animal Drug Application for its Galliprant drug for control of pain and inflammation in dogs with osteoarthritis.

Sanmina Corp. (SANM +0.70%) climbed over 4% in after-hours trading after it raised guidance on Q2 adjusted EPS to 55 cents-59 cents, above consensus of 54 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH16 +0.35%) this morning are up +5.25 points (+0.28%). Monday's closes: S&P 500 -1.56%, Dow Jones -1.29%, Nasdaq -1.48%. The S&P 500 on Monday closed lower on the sharp -7.4% sell-off in oil prices, carryover weakness from a fall in European stocks after the German Jan IFO business climate index slid to an 11-month low, and the unexpected -13.0 point drop in the Dallas Fed manufacturing activity index to a 6-3/4 year low of -34.6 (weaker than expectations of +5.6 to -14.5).

Mar 10-year T-notes (ZNH16 +0.11%) this morning are up +5 ticks. Monday's closes: TYH6 +5.50, FVH6 +1.50. Mar T-note prices on Monday closed higher on increased safe-haven demand with the the slide in stocks and on the plunge in crude oil, which undercut inflation expectations and may delay further Fed rate hikes.

The dollar index (DXY00 +0.02%) this morning is up +0.087 (+0.09%). EUR/USD (^EURUSD) is down -0.0023 (-0.21%). USD/JPY (^USDJPY) is up +0.14 (+0.12%). Monday's closes: Dollar Index -0.214 (-0.21%), EUR/USD +0.0053 (+0.49%), USD/JPY -0.48 (-0.40%). The dollar index on Monday closed lower on the plunge in the Dallas Fed manufacturing index to a 6-3/4 year low and on weakness in USD/JPY. the yen was boosted by safe-haven demand for the yen with the sell-off in stocks and by BOJ Governor Kuroda's comment that "we don't think the current market situation has been affecting corporate behavior unduly," which reduced speculation that the BOJ will expand stimulus at its Thu/Fri policy meeting.

Mar crude oil (CLH16 +0.89%) this morning is up +26 cents (+0.86%) and Mar gasoline (RBH16 -0.22%) is up +0.0105 (+1.00%). Monday's closes: CLH6 -2.39 (-7.42%), RBH6 -0.0641 (-5.78%). Mar crude oil and gasoline on Monday closed sharply lower on signs that Saudi Arabia will not cut back on oil production despite low prices after the chairman of state-run oil company Saudi Aramco said that Saudi Arabia can sustain low oil prices for "a long, long time." Crude oil and gasoline prices were also undercut by expectations that Wednesday's weekly EIA data will show crude inventories rose +4.0 million bbl and by the snowstorm along the U.S. East Coast that has reduced air and automobile travel and reduced gasoline demand.

GLOBAL EVENT CALENDAR01/26/2016

US	0900 ET	Nov FHFA house price index expected +0.5% m/m, Oct +0.5% m/m.
	0900 ET	Nov S&P/CaseShiller composite-20 home price index expected +0.80% m/m and +5.64% y/y, Oct +0.84% m/m and +5.54% y/y.
	0945 ET	Jan Markit services PMI expected -0.3 to 54.0, Dec -1.8 to 54.3. Jan Markit composite PMI, Dec -1.9 to 54.0.
	1000 ET	Jan consumer confidence (Conference Board) expected unch at 96.5, Dec +3.9 to 96.5.
	1000 ET	Jan Richmond Fed manufacturing index expected -4 to 2, Dec +9 to 6.
	1130 ET	FOMC begins 2-day policy meeting.
	1300 ET	Treasury auctions $26 billion 2-year T-notes.
CHI	2030 ET	China Dec industrial profits. Nov -1.4% y/y.
	2045 ET	China Jan Westpac-MNI consumer sentiment, Dec 113.7.

U.S. STOCK CALENDAR01/26/2016

Company	Ticker	Time	Event Description	Period	Estimate
Corning Inc	GLW US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	0.318
EI du Pont de Nemours & Co	DD US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	0.258
Freeport-McMoRan Inc	FCX US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	-0.179
Procter & Gamble Co/The	PG US	Bef-mkt	Q2 2016 Earnings Release	Q2 2016	0.979
Lockheed Martin Corp	LMT US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	2.94
Waters Corp	WAT US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	1.95
Prologis Inc	PLD US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	0.619
Coach Inc	COH US	Bef-mkt	Q2 2016 Earnings Release	Q2 2016	0.662
Danaher Corp	DHR US	6:00	Q4 2015 Earnings Release	Q4 2015	1.27
Johnson & Johnson	JNJ US	6:45	Q4 2015 Earnings Release	Q4 2015	1.419
Dover Corp	DOV US	7:00	Q4 2015 Earnings Release	Q4 2015	0.742
WW Grainger Inc	GWW US	7:30	Q4 2015 Earnings Release	Q4 2015	2.227
WW Grainger Inc	GWW US	7:30	Q4 2015 Earnings Call	Q4 2015
3M Co	MMM US	7:30	Q4 2015 Earnings Release	Q4 2015	1.622
Parker-Hannifin Corp	PH US	7:30	Q2 2016 Earnings Release	Q2 2016	1.178
American International Group Inc	AIG US	8:00	Business Update Call
Danaher Corp	DHR US	8:00	Q4 2015 Earnings Call	Q4 2015
EI du Pont de Nemours & Co	DD US	8:00	Q4 2015 Earnings Call	Q4 2015
Corning Inc	GLW US	8:30	Q4 2015 Earnings Call	Q4 2015
Johnson & Johnson	JNJ US	8:30	Q4 2015 Earnings Call	Q4 2015
Procter & Gamble Co/The	PG US	8:30	Q2 2016 Earnings Call	Q2 2016
Waters Corp	WAT US	8:30	Q4 2015 Earnings Call	Q4 2015
Coach Inc	COH US	8:30	Q2 2016 Earnings Call	Q2 2016
3M Co	MMM US	9:00	Q4 2015 Earnings Call	Q4 2015
Dover Corp	DOV US	10:00	Q4 2015 Earnings Call	Q4 2015
Freeport-McMoRan Inc	FCX US	10:00	Q4 2015 Earnings Call	Q4 2015
Parker-Hannifin Corp	PH US	11:00	Q2 2016 Earnings Call	Q2 2016
Lockheed Martin Corp	LMT US	11:00	Q4 2015 Earnings Call	Q4 2015
Prologis Inc	PLD US	12:00	Q4 2015 Earnings Call	Q4 2015
Becton Dickinson and Co	BDX US	13:00	Annual General Meeting	Y 2016
Apple Inc	AAPL US	16:00	TLIV Top Live Blog
Stryker Corp	SYK US	16:00	Q4 2015 Earnings Release	Q4 2015	1.551
Chubb Ltd	CB US	16:05	Q4 2015 Earnings Release	Q4 2015	2.286
Capital One Financial Corp	COF US	16:05	Q4 2015 Earnings Release	Q4 2015	1.608
AT&T Inc	T US	16:30	Q4 2015 Earnings Call	Q4 2015
Apple Inc	AAPL US	16:30	Q1 2016 Earnings Release	Q1 2016	3.227
Stryker Corp	SYK US	16:30	Q4 2015 Earnings Call	Q4 2015
CA Inc	CA US	17:00	Q3 2016 Earnings Call	Q3 2016
Total System Services Inc	TSS US	17:00	Q4 2015 Earnings Call	Q4 2015
Apple Inc	AAPL US	17:00	Q1 2016 Earnings Call	Q1 2016
Capital One Financial Corp	COF US	17:00	Q4 2015 Earnings Call	Q4 2015
CA Inc	CA US	Aft-mkt	Q3 2016 Earnings Release	Q3 2016	0.578
AT&T Inc	T US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.633
Total System Services Inc	TSS US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.601
Navient Corp	NAVI US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.49
Hormel Foods Corp	HRL US		Annual General Meeting	Y 2016
Affiliated Managers Group Inc	AMG US		Q4 2015 Earnings Release	Q4 2015	3.604

The 5 Best Large Caps

Just like it always 5 O'Clock somewhere, there are always some stocks that buck the trend.  Today I used Barchart to sort the S&P 500 Large Cap Index stocks for the 5 with the highest technical buy signals and good looking charts.

Today's list includes Harris Corp (HRS), First Solar (FSLR), Flir Systems (FLIR), Dollar Tree (DLTR) and Coach (COH).

Harris Corp (HRS)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 5.15% in the last month
• Relative Strength Index 64.57%
• Technical support level at 85.37
• Recently traded at 88.83 with a 50 day moving average of 82.46

First Solar (FSLR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 18.68% in the last month
• Relative Strength Index 72.97%
• Technical support level at 63.20
• Recently traded at 70.45 with a 50 day moving average of 58.59

Flir Systems (FLIR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter hold signal
• Above its 20, 50 and 100 day moving averages
• 2 new highs and up 1.02% in the last month
• Relative Strength Index 64.74%
• technical support level at 27.78
• Recently traded at 30.78 with a 50 day moving average at 28.58

Dollar Tree (DLTR)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 3 new highs and up 3.68% in the last month
• Relative Strength Index 65.29%
• Technical support level at 75.18
• Recently traded at 80.17 with a 50 day moving average of 72.15

Coach (COH)

Barchart technical indicators:

• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 10.43% in the last month
• Relative Strength Index 62.04%
• Technical support level at 31.55
• Recent traded at 33.47 with a 50 day moving average of 31.49

BARCHART MORNING CALL 8/7

BARCHART MORNING CALL

Friday, August 7th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 -0.17%) are down -0.10% and European stocks are down -0.38% ahead of monthly U.S. payroll data for July that may give clues to the pace and timing of a Fed interest rate increase. European stocks also fell after German Jun industrial production unexpectedly declined at the fastest pace in 10 months. Miners and basic-resource companies also fell after the price of copper (HGU15 -0.21%) slid to a fresh 6-year low. Asian stocks closed mixed: Japan +0.29%, Hong Kong +0.73%, China +2.26%, Taiwan -0.09%, Australia -2.41%, South Korea -0.10%, India -0.22%. Japanese stocks closed higher after the BOJ maintained its overly easy monetary policies following today's 2-day meeting, while China's Shanghai Composite closed up over 2% on speculation the Chinese government will take more measures to stabilize the equity market.
The dollar index (DXY00 -0.06%) is down -0.02%. EUR/USD (^EURUSD) is up +0.03%. USD/JPY (^USDJPY) is down -0.02%.

Sep T-note prices (ZNU15 +0.06%) are up +1.5 ticks.
According to people with knowledge of the matter, the China Securities Finance Corp., the government agency mandated to buy equities to support the market, is seeking to increase its funding by an additional 2 trillion yuan ($322 billion). The extra funding would add to the 3 trillion yuan already made available by the government.
German Jun industrial production unexpectedly fell -1.4% m/m, weaker than expectations of +0.3% m/m and the largest decline in 10 months. Onan annual basis, Jun industrial production rose +0.6% y/y, weaker than expectations of +2.2% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) July non-farm payrolls (expected +225,000, Jun +223,000) and Jul unemployment rate (expected unchanged at 5.3%, Jun -0.2 to 5.3%), and (2) Jun consumer credit (expected +$17.0 billion, May +$16.086 billion).
There are 4 of the S&P 500 companies that report earnings today: Hershey (consensus $0.74), Cablevision (0.25), Harris Corp (1.23), Berkshire Hathaway (3038).
U.S. IPO's scheduled to price today include: Pixelworks (PXLW).
Equity conferences during the remainder of this week include: none.

OVERNIGHT U.S. STOCK MOVERS

Intel (INTC -0.38%) was downgraded to 'Hold' from 'Buy' at Drexel Hamilton.
Coach (COH -0.54%) was upgraded to 'Buy' from 'Neutral' at UBS.
Hershey (HSY -0.50%) reported Q2 EPS of 78 cents, better than consensus of 74 cents.
Genesis Healthcare (GEN +1.52%) reported Q2 EPS of 14 cents, higher than consensus of 9 cents.
Billionaire investor Carl Icahn reported an 8.18% stake in Cheniere (LNG -0.26%) .
Bio-Rad (BIO -2.98%) reported Q2 EPS of 97 cents, well above consensus of 78 cents.
Nu Skin (NUS -3.62%) reported Q2 EPS of 75 cents, better than consensus of 72 cents.
Sprouts Farmers Markets (SFM -2.21%) fell over 4% in after-hours trading after it reported Q2 adjusted EPS of 22 cents, right on consensus, but then lowered guidance on fiscal 2015 adjusted EPS to 80 cents-82 cents, below consensus of 85 cents.
TESARO (TSRO -5.95%) reported a Q2 EPS loss of -$1.51, a wider loss than consensus of -$1.14.
NVIDIA (NVDA -0.63%) jumped over 8% in after-hours trading after it reported Q2 EPS of 34 cents, over three times consensus of 10 cents.
Monster Beverage (MNST -5.93%) reported Q2 adjusted EPS of 79 cents, weaker than consensus of 91 cents.
EOG Resources (EOG +2.09%) reported Q2 adjusted EPS of 28 cents, well above consensus of 10 cents.
Mohawk (MHK -2.53%) reported Q2 EPS of $2.69, better than consensus of $2.62.
Century Aluminum (CENX -1.08%) reported Q2 adjusted EPS of 25 cents, below consensus of 27 cents.
Nuance (NUAN -1.59%) reported Q3 EPS of 32 cents, higher than consensus of 29 cents, and then raised guidance on fiscal 2015 EPS to $1.20-$1.24, above consensus of $1.19.

MARKET COMMENTS

Sep E-mini S&Ps (ESU15 -0.17%) this morning are down -2.00 points (-0.10%). Closes: S&P 500 -0.78%, Dow Jones -0.69%, Nasdaq -1.60%. The S&P 500 Thursday fell to a 1-week low and closed lower on a slide in media stocks on disappointing Q2 earnings results from Viacom and Twenty-First Century Fox, weakness in energy producers after crude oil tumbled to a 4-1/2 month low, and long liquidation ahead of Friday's monthly U.S. payrolls report.
Sep 10-year T-note prices (ZNU15 +0.06%) this morning are up +1.5 ticks. Closes: TYU5 +8.5, FVU5 +4.50. Sep T-note prices on Thursday closed higher on a decline in the 10-year inflation expectations rate to a 4-1/2 month low due to the continued drop in oil prices and on increased safe-haven demand for T-notes after the S&P 500 fell to a 1-week low.
The dollar index (DXY00 -0.06%) this morning is down -0.017 (-0.02%). EUR/USD (^EURUSD) is up +0.0003 (+0.03%). USD/JPY (^USDJPY) is down -0.02 (-0.02%). Closes: Dollar Index -0.125 (-0.13%), EUR/USD +0.00189 (+0.17%), USD/JPY -0.121 (-0.10%). The dollar index on Thursday closed lower on strength in EUR/USD after German Jun factory orders rose more than expected, and on long liquidation in the dollar ahead of Friday's U.S. payroll report.
Sep crude oil (CLU15 -0.11%) this morning is up +3 cents (+0.07%) and Sep gasoline (RBU15 -0.81%) is down -0.0078 (-0.47%). Closes: CLU5 -0.40 (-0.89%), RBU5 -0.0215 (-1.29%). Sep crude oil and gasoline closed lower Thursday with Sep crude at a 4-1/2 month low and Sep gasoline at a 5-1/2 month low. Negative factors included carry-over bearishness from Wednesday's EIA report that showed an unexpected +811,000 bbl increase in weekly EIA gasoline inventories (vs expectations of -200,000 bbl) and a +709,000 bbl increase in EIA distillate inventories to a 3-1/2 year high. Crude oil prices also saw weakness after Goldman Sachs said the global crude oversupply is currently 2 million bpd and that world oil storage may be filled by autumn.

GLOBAL EVENT CALENDAR08/07/2015

US	0830 ET	Jul non-farm payrolls expected +225,000, Jun +223,000. Jul private payrolls expected +212,000, Jun +223,000. Jul manufacturing payrolls expected +5,000, Jun +4,000. Jul unemployment rate expected unchanged at 5.3%, Jun -0.2 to 5.3%.
	0830 ET	Jul average hourly earnings expected +0.2% m/m and +2.3% y/y, Jun unch m/m and +2.0% y/y. Jul average weekly hours all employees expected unch at 34.5 hours.
	1500 ET	Jun consumer credit expected +$17.0 billion, May +$16.086 billion.
JPN	n/a	BOJ announces interest rate decision.
GER	0200 ET	German Jun industrial production expected +0.3% m/m and +2.2% y/y, May unch m/m and +2.1% y/y.
	0200 ET	German Jun trade balance expected +21.0 billion euros, May +19.5 billion euros. Jun exports expected -0.3% m/m, May +1.6% m/m. Jun imports expected +0.5% m/m, May +0.4% m/m.
	0200 ET	German Jun current account balance expected +16.0 billion euros, May +11.1 billion euros.
CHI	n/a	China Jul trade balance expected +$55.00 billion, Jun +$46.54 billion. Jul exports expected -1.5% y/y, Jun +2.8% y/y. Jul imports expected -7.9% y/y, Jun -6.1% y/y.

U.S. STOCK CALENDAR08/07/2015

Company	Ticker	Time	Event Description	Period	Estimate
Hershey Co/The	HSY US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.743
Cablevision Systems Corp	CVC US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	0.25
Harris Corp	HRS US	6:30	Q4 2015 Earnings Release	Q4 2015	1.23
Harris Corp	HRS US	8:30	Q4 2015 Earnings Call	Q4 2015
Hershey Co/The	HSY US	8:30	Q2 2015 Earnings Call	Q2 2015
EOG Resources Inc	EOG US	10:00	Q2 2015 Earnings Call	Q2 2015
Cablevision Systems Corp	CVC US	10:00	Q2 2015 Earnings Call	Q2 2015
Mohawk Industries Inc	MHK US	11:00	Q2 2015 Earnings Call	Q2 2015
Monster Beverage Corp	MNST US	16:20	Annual General Meeting	Y 2015
Berkshire Hathaway Inc	BRK/A US		Q2 2015 Earnings Release	Q2 2015	3038.09
Principal Financial Group Inc	PFG US		Roadshow - Tokyo - Day 2	Y 2015