My 5 Favorite Growth Stocks

Common sense tells me that those companies that continue to have growth in both Revenue and Earnings will also continue to have an increase in Price.  I use Value Line to find those stocks which are predicted to have at least a 10% increase in both Revenue and Earnings in the next 3 to 5 years.  I then load that list into Barchart and sort first for the highest Weighted Alpha, then again for technical buy signals of 80% or more.  I always use the Fliphart feature to review the charts for consistent price appreciation.  Today's Watch List includes:

Conn's (CONN), Nvidia (NVDA), Align Technology (ALGN), Cognex (CGNX) and IPG Photonics (IPGP)

Conn's (CONN)

Barchart technical indicators:

• 164.08+ Weighted Alpha
• 100% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 29.82% in the last month
• Relative Strength Index 69.19%
• Technical support level at 26.65
• Recently traded at 29.70 with a 50 day moving average of 23.10

Nvidia (NVDA)

Barchart technical indicators:

• 149.72+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 10.36% in the last month
• Relative Strength Index 73.66%
• Technical support level at 195.33
• Recently trade at 197.59 with a 50 day moving average of 177.11

Align Technology (ALGN)

Barchart technical indicators:

• 138.09+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 2, 50 and 100 day moving averages
• 11 new highs and up 7.02% in the last week
• Relative Strength Index 75.84%
• Technical support level at 201.48
• Recently traded at 202.64 with a 50 day moving average of 184.12

Cognex (CGNX)

Barchart technical indicators:

• 132.20+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 15 new highs and up 7.89% in the last month
• Relative Strength Index 70.48%
• Technical support level at 121.81
• Recently traded at 122.48 with a 50 day moving average of 111.51

IPG Photonics (IPGP)

Barchart technical indicators:

• 126.29+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 12 new highs and up 11.24% in the last month
• Relative Strength Index 82.20%
• Technical support level at 203.48
• Recently traded at 208.53 with a 50 day moving average of 182.60

#CONN #NVDA #ALGN #CGNX #IPGP

Conn;s - Chart of the Day

Conn's (CONN) is the Barchart Chart of the Day. The electronics retailer has a Trend Spotter buy signal, a Weighted Alpha of 137.72+ and gained 169.68% in the last year.

The Chart of the Day belongs to Conn's (CONN).  I found the electronics retailer by using Barchart to sort a list of stocks analysts predict will have double digit growth in both Revenue and Earnings first by the highest Weighted Alpha, then again for Technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy on 9/8 the stock gained 20.45%.


Conns Inc is a specialty retailer currently operating retail locations in Texas and Louisiana. It sells major home appliances, including refrigerators, freezers, washers, dryers and ranges, and a variety of consumer electronics, including projection, plasma and LCD televisions, camcorders, VCRs, DVD players and home theater products. They also sell home office equipment, lawn and garden products and bedding, and continue to introduce additional product categories for the home to help increase same store sales and to respond to their customers' product needs.

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:

• 137.72+ Weighted Alpha
• 96% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 42.67% in the last month
• Relative Strength Index 76.67%
• Technical support level at 27.47
• Recently traded at 27.70 with a 50 day moving average of 21.58

Fundamental factors:

• Market Cap $872.32 million
• P/E 156.39
• Revenue expected to grow 4.80% next year
• Earnings estimated to increase 436.40% this year, an additional 124.30% next year and continue to compound at an annual rate of 18.50% for the next 5 years
• Wall Street analysts issued 5 strong buy recommendations on the stock

BARCHART MORNING CALL 7/9

BARCHART MORNING CALL

Thursday, July 9th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 +1.02%) are up +1.01% and European stocks are up +1.74% following a rebound in Chinese equities. Greece extended its bank holiday and capital controls through Monday and has until midnight Thursday to present European leaders with a plan that includes spending cuts in exchange for fresh bailout funds. European leaders will then meet on Sunday to decide their response to the proposals. Asian stocks closed mostly higher: Japan +0.60%, Hong Kong +3.73%, China +5,76%, Taiwan -0.69%, Australia +0.03%, Singapore -0.54%, South Korea +0.75%, India -0.41%. China's Shanghai Composite recovered from a 3-3/4 month low and closed higher after regulators banned majority stockholders from selling their shares for at least 6 months. Investors continue to sell shares bought on margin funds as data showed traders unloaded a record 112 billion yuan ($18 billion) of shares bought with borrowed money on the Shanghai exchange Wednesday, the 13th straight day of declines.
Commodity prices are mixed. Aug crude oil (CLQ15 +2.88%) is up +1.65%, Aug gasoline (RBQ15 +0.85%) is down -0.60%. Metals prices are mixed. Aug gold (GCQ15 -0.11%) is down -0.16%. Sep copper (HGU15 +1.62%) is up +1.40%. Agricultural prices are higher.
The dollar index (DXY00 +0.10%) is up +0.21%. EUR/USD (^EURUSD) is down -0.23%. USD/JPY (^USDJPY) is up +0.68%.

Sep T-note prices (ZNU15 -0.31%) are down -11 ticks as the rally in global stocks reduces the safe-haven demand for Treasuries.
As Greece extended its bank holiday and capital controls through Monday, the ECB on Wednesday kept the cap on Emergency Liquidity Assistance (ELA) to Greece's central bank at 88.6 billion euros, the level it has been frozen at since Jun 26. A Greek official with direct knowledge of the matter said at the current level of ELA, Greek banks have sufficient liquidity to last through Monday.
As expected, the BOE at the conclusion of today's policy meeting kept its benchmark interest rate at 0.50% and maintained its asset purchase target at 375 billion pounds.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -6,000 to 275,000 after last week's +10,000 to 281,000) and continuing claims (expected -14,000 to 2.250 million after last week's +15,000 to 2.264 million), (2) the Treasury's auction of $13 billion of 30-year T-bonds, (3) an appearance by Minneapolis Fed President Narayana Kocherlakota on central banks and fiscal authorities as a panelist at the Deutsche Bundesbank Conference, and (4) a speech by Kansas City Fed President Esther George on the U.S. economy and monetary policy at OSU in Stillwater, OK.
There are two of the Russell 1000 companies that report earnings today: PepsiCo (consensus $1.24), Walgreens (0.87).
U.S. IPO's scheduled to price today include: none.
Equity conferences this week: none.

OVERNIGHT U.S. STOCK MOVERS

Knight Transportation (KNX -0.52%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Con-way (CNW -3.88%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
Regeneron (REGN -1.61%) was downgraded to 'Sell' from 'Neutral' at UBS.
J.B. Hunt (JBHT -1.45%) was upgraded to 'Buy' from 'Neutral' at Longbow.
Amgen (AMGN -1.98%) was downgraded to 'Neutral' from 'Buy' at UBS.
Dunkin' Brands (DNKN -1.60%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Panera Bread (PNRA -0.47%) was upgraded to 'Neutral' from 'Sell' at Goldman Sachs.
Conn's (CONN -2.21%) reports that its June same-store-sales were up +1.1% y/y.
HSBC (HSBC -2.68%) was upgraded to 'Neutral' from 'Underperform' at Exane BNP Paribas.
Costco (COST -0.43%) reports that its June same-store-sales were down 1% y/y.
Walgreens Boots Alliance (WBA -1.54%) reported Q3 EPS of $1.02, stronger than consensus of 87 cents.
PepsiCo (PEP -0.82%) jumped over 2% in pre-market trading after it reported Q2 EPS of $1.32, higher than consensus of $1.24.
Yahoo! (YHOO -2.62%) rose over 2% in pre-market tradign after the company said it will roll out a new sports-fantasy service designed for use on mobile devices.
Alcoa (AA -5.06%) reported Q2 EPS of 19 cents, below consensus of 23 cents.
Celgene Rivot reported a 9.1% stake in Juno Therapeutics (JUNO -6.24%) .

MARKET COMMENTS

September E-mini S&Ps (ESU15 +1.02%) this morning are up +20.50 points (+1.01%) as Chinese stocks stabilized. Wednesday's closes: S&P 500 -1.67%, Dow Jones -1.47%, Nasdaq -1.75%. The S&P 500 on Wednesday closed sharply lower on Grexit concerns, the plunge in China's Shanghai Composite to a 3-1/2 month low, and the +$16.086 billion increase in U.S. May consumer credit, less than expectations of +$18.5.
Sep 10-year T-notes (ZNU15 -0.31%) this morning are down -11 ticks. TYU5 +8.00, FVU5 +6.00. Sep T-notes on Wednesday rose to a 5-week high and closed higher on (1) safe-haven demand from concerns about Grexit and the plunge in the Chinese stock market, and (2) expectations that the Fed's first rate hike will be delayed by Greek and Chinese concerns.
The dollar index (DXY00 +0.10%) this morning is up +0.201 (+0.21%). EUR/USD (^EURUSD) is down -0.0026 (-0.23%). USD/JPY (^USDJPY) is up +0.82 (+0.68%). Dollar Index -0.637 (-0.66%), EUR/USD +0.00649 (+0.59%), USD/JPY -1.829 (-1.49%). The dollar index on Wednesday closed lower on some safe-haven demand for the yen and a rally in EUR/USD tied to relief that the ECB maintained the Greek 89 billion euro ELA lifeline.
Aug WTI crude oil (CLQ15 +2.88%) this morning is up +85 cents (+1.65%). Aug gasoline (RBQ15 +0.85%) is down -0.0119 (-0.60%). CLQ5 -0.68 (-1.30%), RBQ5 +0.0572 (+2.93%). Aug crude and gasoline on Wednesday settled mixed. The EIA report was bearish with the +384,000 bbl increase in EIA crude inventories, more than expectations for no change, and the +1.22 million bbl increase in EIA gasoline supplies, more than expectations of no change. Other negative factors included concern about the negative economic fall-out from Greece and China and expectations that Iranian oil exports will double if there is a near-term Iranian nuclear agreement. The main supportive factor for crude oil prices was the weaker dollar.

GLOBAL EVENT CALENDAR07/09/2015

US	0545 ET	Minneapolis Fed President Narayana Kocherlakota speaks on central banks and fiscal authorities as a panelist at the Deutsche Bundesbank Conference.
	0830 ET	Weekly initial unemployment claims expected -6,000 to 275,000, previous +10,000 to 281,000. Weekly continuing claims expected -14,000 to 2.250 million, previous +15,000 to 2.264 million.
	0830 ET	USDA weekly Export Sales.
	1300 ET	Kansas City Fed President Esther George speaks on the U.S. economy and monetary policy at OSU in Stillwater, OK.
	1300 ET	Treasury auctions $13 billion of 30-year T-bonds.
GER	0200 ET	German May trade balance expected +20.5 billion euros, Apr +21.8 billion euros. May exports expected -0.8% m/m, Apr +2.0% y/y. May imports expected +0.1% m/m, Apr -0.8% y/y.
	0200 ET	German May current account balance expected +16.0 billion euros, Apr +19.6 billion euros.
JPN	0200 ET	Japan Jun machine tool orders, May +15.0% y/y.
	1950 ET	Japan Jun PPI expected -0.1% m/m and -2.2% y/y, May +0.3% m/m and -2.1% y/y.
UK	0700 ET	BOE announces interest rate decision and asset purchase target, expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.
CHI	n/a	China Jun new yuan loans expected +1.050 trillion yuan, May +900.8 billion yuan.

U.S. STOCK CALENDAR07/09/2015

Company	Ticker	Time	Event Description	Period	Estimate
American Airlines Group Inc	AAL US	Bef-mkt	June 2015 Sales and Revenue Release - Traffic Results	2015
PepsiCo Inc	PEP US	6:30	Q2 2015 Earnings Release	Q2 2015	1.241
Walgreens Boots Alliance Inc	WBA US	7:00	Q3 2015 Earnings Release	Q3 2015	0.871
L Brands Inc	LB US	7:30	June 2015 Sales and Revenue Call	2015
PepsiCo Inc	PEP US	8:00	Q2 2015 Earnings Call	Q2 2015
Walgreens Boots Alliance Inc	WBA US	8:30	Q3 2015 Earnings Call	Q3 2015
T-Mobile US Inc	TMUS US	9:00	Un-Carrier Amped Announcement
United Continental Holdings Inc	UAL US	Aft-mkt	June 2015 Sales and Revenue Release - Operational Performance	2015
Gap Inc/The	GPS US		June 2015 Sales and Revenue Release	2015
Eli Lilly & Co	LLY US		FDA Adcomm, necitumumab, first-line squamous non-small cell lung cancer
L Brands Inc	LB US		June 2015 Sales and Revenue Release	2015

BARCHART MORNING CALL 3/27

BARCHART MORNING CALL 

Friday, March 27th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 -0.10%) this morning are down -0.16% ahead of revised U.S. Q4 GDP and final Mar University of Michigan consumer sentiment that may provide a clue to the timing of a Fed interest rate increase. European stocks are up +0.23% on optimism that the ECB's QE program will achieve its goals and stave off deflation after ECB President Draghi said the ECB will have no problem meeting its debt-purchase targets. Asian stocks closed mixed: Japan -0.95%, Hong Kong -0.04%, China +0.55%, Taiwan -1.20%, Australia +0.70%, Singapore +0.54%, South Korea -0.18%, India unchanged. Japan's Nikkei Stock Index tumbled to a 2-week low as slower-than-expected increases in Japan Feb retail sales and consumer prices signal waning momentum in the Japanese economy. Commodity prices are mostly lower. May crude oil (CLK15 -1.69%) is down -1.54% on optimism that air strikes in Yemen by Saudi Arabia, which continued for a second day, won't pose a threat to crude supplies. May gasoline (RBK15 -1.15%) is down -0.94%. Apr gold (GCJ15 -0.43%) is down -0.53%. May copper (HGK15 -0.73%) is down -0.48% after weekly Shanghai copper inventories rose +4,243 MT to 243,592 MT, a 23-month high. Agriculture prices are mixed. The dollar index (DXY00 +0.09%) is up +0.28%. EUR/USD (^EURUSD) is down 0.45%. USD/JPY (^USDJPY) is up +0.15% as the yen weakened on speculation the BOJ may need to expand stimulus after Japanese consumer prices last month rose at the slowest pace in 11 months. Jun T-note prices (ZNM15 +0.09%) are up +1.5 ticks.
Japan Feb national CPI rose +2.2% y/y, weaker than expectations of +2.3% y/y and the slowest pace of increase in 11 months. Feb national CPI ex-fresh food rose +2.0% y/y, less than expectations of +2.1% y/y. Feb national CPI ex food & energy rose +2.0% y/y, less than expectations of +2.1% y/y.
The Japan Feb jobless rate fell -0.1 to 3.5%, right on expectations. The Feb job-to-applicant ratio rose +0.01 to 1.15, right on expectations and the highest since Mar 1992.
Japan Feb retail sales rose +0.7% m/m and fell -1.8% y/y, weaker than expectations of +0.9% m/m and -1.5% y/y.
Japan Feb overall household spending fell -2.9% y/y, a smaller decrease than expectations of -3.2% y/y, but still the 11th consecutive month that spending has declined.
The German Feb import price index rose +1.4% m/m and fell -3.0% y/y, stronger than expectations of +0.5% m/m and -3.9% y/y.
UK Mar nationwide house prices rose +0.1% m/m and +5.1% y/y, weaker than expectations of +0.2% m/m and +5.3% y/y.

U.S. STOCK PREVIEW

Key news today includes (1) the U.S. Q4 GDP revision (expected revised to 2.4% from +2.2%), (2) final-March U.S. consumer sentiment from the University of Michigan (expected +0.8 to 92.0), and (3) comments by Fed Chair Janet Yellen on monetary policy at a San Francisco Fed conference entitled “The New Normal for Monetary Policy.”
There are 2 of the Russell 1000 companies that report earnings today: Carnival (consensus $0.09), Ocwen Financial (0.26).
U.S. IPOs that price today include: Applied DNA Sciences (APDN). There are no U.S. IPOs that are scheduled to start trading today.
There are no equity conferences today.

OVERNIGHT U.S. STOCK MOVERS

American Eagle (AEO +1.01%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
Finish Line (FINL +2.18%) reported Q4 adjusted EPS of 88 cents, better than consensus of 85 cents.
Conn's (CONN -0.56%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray.
ArcelorMittal (MT -2.72%) was downgraded to 'Sell' from 'Neutral' at Citigroup.
Carnival Cruise Lines (CCL +0.05%) rose over 1% in after-hours trading after it said it will add nine new cruise ships to its fleet over a four-year period from 2019-2022.
Charles Schwab (SCHW +1.95%) was initiated with an 'Outperform' at RBC Capital with a price target of $38.
UBS has a 'Buy' rating and $110 price target on McDonald's (MCD -0.51%) and says it sees the new direction of McDonald's management creating significant cost reduction potential.
SanDisk (SNDK -18.45%) was downgraded to 'Hold' from 'Buy' at Evercore ISI.
Corvex Management reported a 7.2% stake in Signet Jewelers (SIG +6.02%) .
F5 Networks (FFIV -0.59%) was initiated with a 'Buy' at Guggenheim with a price target of $130.
Yahoo! (YHOO +0.61%) rose nearly 2% in pre-market trading after it was initiated with an 'Overweight' at Morgan Stanley with a price target of $55.
Restoration Hardware (RH +1.01%) reported Q4 EPS of $1.02, better than consensus of $1.01.
GameStop (GME -2.56%) fell nearly 6% in after-hours trading after it reported Q4 adjusted EPS of $2.15, less than consensus of $2.17, and then lowered guidance on fiscal 2015 EPS to $3.60-$3.80, below consensus of $4.04.

MARKET COMMENTS

Jun E-mini S&Ps (ESM15 -0.10%) this morning are down -3.25 points (-0.16%). Thursday's closes: S&P 500 -0.24%, Dow Jones -0.23%, Nasdaq -0.32%. The U.S. stock market on Thursday closed lower as Saudi Arabia launched air strikes against rebel targets in Yemen, sparking a rally in oil prices and causing worries about possible disruptions of oil flows in the Middle East. In addition, Atlanta Fed President Lockhart hurt the stock market by saying that he still favors raising interest rates despite some softer readings in growth. Stocks received some support from the unexpected -9,000 drop in initial unemployment claims to 282,000.
Jun 10-year T-notes (ZNM15 +0.09%) this morning are up +1.5 ticks. Thursday's Closes: TYM5 -18.50, FVM5 -8.00. T-note prices closed with fairly sharp losses on Thursday as initial unemployment claims unexpectedly fell by -9,000 to a 5-week low of 282,000. In addition, demand was weak for the Treasury's $29 billion 7-year T-note auction, which carried a bid cover ratio of only 2.32, below the 12-auction average of 2.51 and the weakest since May 2009.
The dollar index (DXY00 +0.09%) this morning is up +0.269 (+0.28%). EUR/USD (^EURUSD) is down -0.0049 (-0.45%). USD/JPY (^USDJPY) is up +0.18 (+0.15%). Thursday's Closes: Dollar index +0.457 (+0.47%), EUR/USD -0.00857 (-0.78%), USD/JPY -0.304 (-0.25%). The dollar index on Thursday closed higher on some flight-to-quality with the Saudi air attack on rebels in Yemen and on Atlanta Fed President Lockhart's hawkish comment that the U.S. economy can handle moving to a higher interest-rate environment.
May WTI crude oil (CLK15 -1.69%) this morning is down -79 cents (-1.54%) and May gasoline (RBK15 -1.15%) is down -0.0177 (-0.94%). Thursday's Closes: CLK5 +2.22 (+4.51), RBK5 +0.0336 (+1.83%). May crude oil and gasoline prices on Thursday rallied to new 3-week highs and closed higher. Oil prices were mainly boosted by Saudi Arabia's air strikes against Shiite Houthi rebels in Yemen, which raised worries about a disruption of Middle East oil supplies and even about whether the conflict could spread into Saudi Arabia itself. Crude oil prices were undercut by the higher close in the dollar.

GLOBAL EVENT CALENDAR03/27/2015

US	0830 ET	Q4 GDP expected revised to 2.4% (q/q annualized) from 2.2%. Q4 personal consumption expected revised to +4.4% from +4.2%. Q4 GDP price index expected unrevised at +0.1%. Q4 core PCE deflator expected unrevised at +1.1% q/q.
	1000 ET	Final-March U.S. consumer sentiment (University of Michigan) expected +0.8 to 92.0, previous -4.2 to 91.2.
	1500 ET	USDA Q1 Hogs & Pigs Inventory.
	1545 ET	Fed Chair Janet Yellen speaks on monetary policy at a San Francisco Fed conference on The New Normal for Monetary Policy.
GER	0300 ET	German Feb import price index expected +0.5% m/m and -3.9% y/y, Jan -0.8% m/m and -4.4% y/y.
UK	0300 ET	UK Mar nationwide house prices expected +0.2% m/m and +5.3% y/y, Feb -0.1% m/m and +5.7% y/y.

U.S. STOCK CALENDAR03/27/2015

Company	Ticker	Time	Event Description	Period	Estimate
Carnival Corp	CCL US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.094
Baker Hughes Inc	BHI US	10:00	Extraordinary Shareholders Meeting
Carnival Corp	CCL US	10:00	Q1 2015 Earnings Call	Q1 2015
Colgate-Palmolive Co	CL US		Board Meeting
Halliburton Co	HAL US		Extraordinary Shareholders Meeting
Omega Healthcare Investors Inc	OHI US		Extraordinary Shareholders Meeting
Ocwen Financial Corp	OCN US		Q4 2014 Earnings Release	Q4 2014	0.261
DreamWorks Animation SKG Inc	DWA US		U.S. Box Office Release of Movie Home""

BARCHART MORNING CALL 6/2

BARCHART MORNING CALL

Monday, June 2nd, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM14 +0.03%) this morning are up +0.05% at a new all-time high and European stocks are up +0.25% at a 5-1/2 year high after manufacturing activity in China last month expanded at the fastest pace in 5 months. Asian stocks closed higher: Japan +2.07%, Hong Kong, China and Taiwan closed for holidays, Australia +0.47%, Singapore +0.19%, South Korea +0.56%, India +1.93%. Japan's Nikkei Stock Index climbed to a 4-week high after Japanese data showed Q1 capital spending rose by the most in nearly 2 years. Commodity prices are mixed. July crude oil (CLN14 +0.16%) is up +0.23%. July gasoline (RBN14 -0.04%) is up +0.12%. Aug gold(GCQ14 +0.06%) is up +0.06% as it rebounds from a 4-month low. July copper (HGN14 +1.41%) is up +1.47%. Agriculture prices are lower. The dollar index (DXY00 +0.17%) is up +0.18%. EUR/USD (^EURUSD) is down -0.19% after a gauge of Eurozone manufacturing activity was revised lower to the slowest pace in 6 months. USD/JPY (^USDJPY) is up +0.27%. Sep T-note prices (ZNU14 -0.25%) are down -9.5 ticks.
Chicago Fed President Evans said in a speech in Istanbul that the Fed will end asset purchases this year and may wait until inflation is much closer to its 2% objective before they consider raising interest rates. He added that a "highly accommodative" monetary policy is appropriate "well into 2015 and could even be" in 2016.
China May manufacturing PMI rose +0.4 to 50.8, better than expectations of +0.3 to 50.7 and the fastest pace of expansion in 5 months.
The Eurozone May Markit manufacturing PMI was revised lower to 52.2 from the originally reported 52.5, the slowest pace of expansion in 6 months.
The German May Markit/BME manufacturing PMI was revised lower to 52.3 from the originally reported 52.9, the slowest pace of expansion in 7 months.
UK Apr net consumer credit rose +0.7 billion pounds, less than expectations of +0.8 billion pounds and Mar was revised lower to show an increase of +1.0 billion pounds from the originally reported +1.1 billion pounds.
UK Apr mortgage approvals rose 62,900, less than expectations of 64,500 and the fewest in 9 months.
Japan Q1 capital spending ex-software rose +8.3% y/y, better than expectations of +5.9% y/y and the most in 7 years. Q1 capital spending climbed +7.4% y/y, better than expectations of +5.8% y/y and the most sine Q2 of 2012.

U.S. STOCK PREVIEW

The market is expecting today’s May ISM manufacturing index to show a +0.6 point increase to 55.5, which would be the fourth consecutive monthly increase. There are none of the Russell 1000 companies that report earnings today.
Equity conferences this week include: Apple Worldwide Developers Conference (WWDC) on Mon, Goldman Sachs Lodging, Gaming, Restaurant & Leisure Conference on Mon-Tue, American Society of Clinical Oncology (ASCO) Meeting on Mon-Tue, Eurelectric Conference 2014 on Mon-Tue, Jefferies Global Health Care Conference on Mon-Thu, National Association of Real Estate Investment Trusts REITWeek Investor Forum on Tue-Thu, Bank of America Merrill Lynch Global Telecom & Media Conference on Tue, Barclays Power & Utility Credit Conference on Tue, Wells Fargo Insurance Forum on Tue, Stifel Consumer Conference on Tue, Barclays Power & Utility Credit Conference on Tue, RBC Global Energy and Power Conference on Tue, Bank of America Merrill Lynch Global Technology Conference on Tue-Wed, Stephens Spring Conference on Tue-Wed, Bank of America Merrill Lynch Energy and Power Leveraged Finance Conference on Tue-Wed, Goldman Sachs Dotcommerce Conference on Wed, KBW Asset Management Conference on Wed, Sandler O'Neill Global Exchange & Brokerage Conference on Wed,
Deutsche Bank Global Industrials and Basic Materials Conference on Wed-Thu, Credit Suisse Engineering & Construction Conference on Thu, UBS Aerospace & Defense Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Oppenheimer increased its price target on Netflix (NFLX +0.63%) to $500 from $435 and keeps an 'Outperform' rating on the stock.
Conn's (CONN -0.26%) reported Q1 adjusted EPS of 80 cents, better than consensus of 73 cents.
Ventas (VTR +0.54%) will acquire American Realty Capital (HCT +1.63%) for $2.6 billion in stock and cash.
Alcoa (AA +0.22%) was upgraded to 'Neutral' from 'Underperform' at BofA/Merrill.
Microchip Technology (MCHP +0.61%) and Xilinx (XLNX +0.21%) were both downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
The LA Times reports that JPMorgan Chase (JPM -0.27%) is being sued by the city of Los Angeles over predatory home loans.
STMicroelectronics (STM +0.20%) was downgraded to 'Sell' from 'Neutral' at Citigroup.
Volvo (VOLVY -0.82%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
Marathon Oil (MRO unch) will sell its Norway business for $2.7 billion to Det norske oljeselskap ASA.
MSDC Management reported a 10.6% passive stake in Liquid Holdings (LIQD -8.64%) .
Armistice Capital reported a 5.16% passive stake in Digital Cinema (DCIN +1.41%) .

MARKET COMMENTS

June E-mini S&Ps (ESM14 +0.03%) this morning are up +1.00 point (+0.05%0 at a new all-time high. The S&P 500 index on Friday posted a new record high and closed higher. Bullish factors include (1) the unexpected +2.5 point increase in the May Chicago PMI to 65.5, better than expectations of -2.0 to 61.0 and the fastest pace of expansion in 7 months, and (2) comments from Philadelphia Fed President Plosser who said he expects the economy to grow at a +3.0% pace for the rest of 2014 and that “there’s a possibility” that unemployment “may be below 6% by the end of the year if things keep going the way they have.” Stock prices were undercut by the -0.1% drop in Apr personal spending, weaker than expectations of +0.2% and the first decline in a year. Closes: S&P 500 +0.18%, Dow Jones +0.11%, Nasdaq +0.03%.
Sep 10-year T-notes (ZNU14 -0.25%) this morning are down -9.5 ticks. Sep 10-year T-note futures prices Friday closed lower. Bearish factors included (1) reduced safe-haven demand for Treasuries after the S&P 500 rallied to another record high, and (2) the unexpected rise in the May Chicago PMI to a 7-month high. Bullish factors included the weaker-than-expected U.S. Apr personal spending and consumer confidence reports. Closes: TYU4 -3.50, FVU4 -1.75.
The dollar index (DXY00 +0.17%) this morning is up +0.141 (+0.18%). EUR/USD (^EURUSD) is down -0.0026 (-0.19%). USD/JPY (^USDJPY) is up +0.27 (+0.27%). The dollar index on Friday closed lower on reduced safe-haven demand after the S&P 5000 posted yet another record high. Dollar losses were limited after the May Chicago PMI unexpected expanded at the fastest pace in 7 months, a sign of economic strength. Closes: Dollar Index -0.125 (-0.16%), EUR/USD +0.00291 (+0.21%), USD/JPY -0.056 (-0.06%).
July WTI crude oil (CLN14 +0.16%) this morning is up +24 cents (+0.23%). July gasoline (RBN14 -0.04%) is up +0.0037 (+0.12%). July crude and gasoline prices on Friday closed lower with July crude at a 1-week low. Bearish factors included (1) concern about the sustainability of the economic recovery and energy demand after U.S. Apr personal spending unexpectedly fell for the first time in a year, and (2) reduced geopolitical risks after a Pentagon spokesman said that Russia has withdrawn a majority of its military forces from the Ukrainian border. Closes: CLN4 -0.87 (-0.84%) RBN4 -0.0239 (-0.80%).

GLOBAL EVENT CALENDAR06/02/2014

US	0300 ET	Chicago Fed President Charles Evans speaks on the economy and monetary policy at the Istanbul School of
		Central Bankings Macro Workshop 2014.
	0945 ET	Revised U.S. May Markit manufacturing PMI, previous 56.2.
	1000 ET	May ISM manufacturing index expected +0.6 to 55.5, Apr +1.2 to 54.9. May ISM prices paid expected +0.4 to 56.9, Apr 56.5. May ISM new orders, Apr unch at 55.1. May ISM employment, Apr +3.6 to 54.7.
	1000 ET	Apr construction spending expected +0.5%, Mar +0.2% m/m.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA weekly crop progress.
JPN	0100 ET	Japan May vehicle sales, Apr -11.4% y/y.
	2130 ET	Japan Apr labor cash earnings, Mar +0.7% y/y.
GER	0355 ET	Revised German May Markit/BME manufacturing PMI, previous 52.9.
	0800 ET	German May CPI (EU harmonized) expected +0.1% m/m and +1.0% y/y, Apr -0.3% m/m and +1.1% y/y.
EUR	0400 ET	Revised Eurozone May Markit manufacturing PMI, previous 52.5.
UK	0430 ET	UK Apr net consumer credit expected +0.8 billion pounds, Mar +1.1 billion pounds.
	0430 ET	UK Apr mortgage approvals expected 64,500, Mar 67,100.
	0430 ET	UK Apr M4 money supply, Mar -2.3% m/m and -0.3% y/y.
	0430 ET	UK May Markit manufacturing PMI expected -0.3 to 57.0, Apr 57.3.
CHI	2100 ET	China May non-manufacturing PMI, Apr +0.3 to 54.8.

U.S. STOCK CALENDAR06/02/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
ARIAD Pharmaceuticals Inc	ARIA US	8:30	Investor and Analyst Meeting	Y 2014
UnitedHealth Group Inc	UNH US		Annual General Meeting
Staples Inc	SPLS US		Annual General Meeting
Assurant Inc	AIZ US		Annual General Meeting	Y 2014

BARCHART MORNING CALL 3/10

BARCHART MORNING CALL

Monday, March 10th, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH14 -0.12%) this morning are down -0.09% as weak Chinese trade data questions the strength of the global economy, while European stocks are up +0.63% on increased M&A activity and after European investor confidence rose. China Feb exports unexpectedly fell -18.1% y/y, the biggest decline in 4-1/2 years, which fueled concern about the strength of the Chinese economy. The Eurozone Mar Sentix investor confidence climbed to a 2-3/4 year high and Rolls-Royce Holdings Plc gained over 3% and helped lift European stocks after Daimler AG said it will sell a 50% stake in an engine joint venture to Rolls-Royce. Asian stocks closed mostly lower: Japan -1.01%, Hong Kong -1.75%, China -3.25%, Taiwan -0.56%, Australia -0.93%, Singapore -0.31%, South Korea -1.12%, India +0.07%. China's Shanghai Stock Index dropped to a 1-1/2 month low on an unexpected decline in China Feb exports and Japanese stocks closed lower after Japan Q4 GDP was revised lower. Commodity prices are mostly lower. Apr crude oil (CLJ14 -1.32%) is down -1.23%. Apr gasoline (RBJ14 -0.88%) is down -0.84%. Apr gold (GCJ14 -0.10%) is down -0.11%. May copper (HGK14 -2.08%) is down -1.80% at a 7-1/4 month low as weaker-than-expected China trade data fuels concern about Chinese copper demand. Agriculture prices are weaker. The dollar index (DXY00 +0.08%) is up +0.05%. EUR/USD (^EURUSD) is down -0.04%. USD/JPY (^USDJPY) is up +0.04%. June T-note prices (ZNM14 -0.06%) are unchanged.
The China Feb trade balance unexpectedly posted a -$22.99 billion deficit, the biggest deficit in 2-year as expectations were for a +$14.50 billion surplus. Feb exports tumbled -18.1% y/y, weaker than expectations of +7.5% and the biggest decline in 4-1/2 years. Feb imports rose +10.1% y/y, better than expectations of +7.6% y/y and the most in 7-months.
The China Feb CPI rose +2.0% y/y, less than expectations of +2.1% y/y and matched the smallest increase in 16-months. Feb PPI fell -2.0% y/y, a bigger decrease than expectations of -1.9% y/y and the biggest decline in 7-months.
China Feb new loans rose +664.5 billion yuan, less than expectations of +730.0 billion yuan.
The Eurozone Mar Sentix investor confidence rose +0.6 to 13.9, slightly less than expectations of +0.7 to 14.0, but still the highest in 2-3/4 years.
Japan Q4 GDP was revised lower to +0.7% q/q annualized from the previously reported +0.9% q/q annualized. The Q4 deflator was revised up to -0.3% y/y from the originally reported -0.4% y/y.

U.S. STOCK PREVIEW

This week's U.S. economic schedule is light and is weighted towards the end of the week with Feb retail sales, Feb PPI, and the early-March U.S. consumer confidence report. There is only one of the Russell 1000 companies that report earnings today: Urban Outfitters (consensus $0.54).
Equity conferences this week include: BIO-Europe Spring Conference on Mon, Offshore Production Technology Summit 2014 on Mon, Credit Suisse Global Services Conference on Mon-Tue, Deutsche Bank Media, Internet & Telecom Conference on Mon-Wed, CeBIT 2014 on Mon-Wed, 27th International Copper Conference on Tue, ROTH Capital Partners Conference on Tue, Susquehanna Chemicals Conference on Tue, International Strategy Investment Group Industrial Conference on Tue, Bank of America Merrill Lynch Consumer & Retail Conference on Tue-Wed, Piper Jaffray Technology, Media & Telecommunications Conference on Tue-Wed, J.P. Morgan Aviation, Transportation & Industrials Conference on Mon-Wed,
Barclays Global Healthcare Conference on Tue-Thu, Goldman Sachs Agribusiness Conference on Wed, Mitsubishi Oil & Gas Conference on Wed, Barclays Select Series US & EMEA Utilities Sector Update Conference on Wed, Citi Asset Management, Broker Dealer & Exchanges Conference on Wed, Citi Asset Management Conference on Wed, J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on Wed-Thu,
UBS Global Consumer Conference on Wed-Thu, RBC Capital Market Consumer and Retail Conference on Wed-Thu, and Barclays Select Insurance Forum on Thu.

OVERNIGHT U.S. STOCK MOVERS

Ferrellgas Partners (FGP +1.30%) reported Q2 adjusted EPS of 76 cents, below consensus of 85 cents.
D.R. Horton (DHI -1.63%) was downgraded to 'Neutral' from 'Buy' at Citigroup.
Wells Fargo downgraded the Financials sector to 'Market Weight' from 'Overweight' citing weakening earnings momentum.
KB Home (KBH -2.05%) was downgraded to 'Underperform' from 'Buy' at BofA/Merrill.
Archer Daniels Midland (ADM +0.95%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital.
Alcatel-Lucent (ALU -2.14%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital.
athenahealth (ATHN -3.06%) was downgraded to 'Underperform' from 'Perform' at Oppenheimer.
Staples (SPLS +1.15%) was downgraded to 'Hold' from 'Buy' at BB&T.
The WSJ reported that Boeing (BA -0.25%) said a problem caused by a change in wing-maker Mitsubishi Heavy Industries' manufacturing process had caused hairline cracks in the wings on some of its yet-to-be-delivered 787 Dreamliner jets, requiring 42 aircraft to be inspected and delaying deliveries to airlines.
Glazer Capital reported a 7.6% passive stake in Pacer (PACR unch) .
Moody's Investors Service raised its outlook on the Netherlands' 'Aaa' government bond ratings to stable from negative.
Luxor Capital Group reported a 5.6% passive stake in Conn's (CONN -1.02%) .
Bed Bath & Beyond (BBBY +1.32%) lowered guidance on Q4 EPS to $1.57-$1.61 from $1.60-$1.67, weaker than consensus of $1.65.
Haynes International (HAYN -0.02%) announced a price increase of 3%-5% on all product forms effective immediately
SAC Capital reported a 5.0% passive stake in Walter Investment (WAC -4.35%) .
JP Morgan reported a 10.6% passive stake in United Online (UNTD -1.42%) .

MARKET COMMENTS

Mar E-mini S&Ps (ESH14 -0.12%) this morning are down -1.75 points (-0.09%). The S&P 500 on Friday jumped to a fresh record high early after U.S. Feb non-farm payrolls rose +175,000, more than expectations of +149,000. Stock prices fell back, however, and closed little changed on increased geopolitical tensions in Ukraine after the U.S. sent six F-15 fighter jets to Lithuania and 12 F-16s to Poland. Another negative for stocks was the first corporate bond default in China as China’s Shanghai Chaori Solar Energy Science & Technology Company failed to pay full interest due on its bonds, which fueled Chinese economic concerns. Closes: S&P 500 +0.05%, Dow Jones +0.19%, Nasdaq 100 -0.47%.
Jun 10-year T-notes (ZNM14 -0.06%) this morning are unch. Jun 10-year T-note futures prices on Friday tumbled to a 5-week low after U.S. Feb non-farm payrolls rose more than expected. T-note prices were also undercut by comments from New York Fed President Dudley who said he sees a “reasonably favorable” outlook for the U.S. economy. Closes: TYM4 -15.00, FVM4 -11.75.
The dollar index (DXY00 +0.08%) this morning is up +0.036 (+0.05%). EUR/USD (^EURUSD) is down -0.0005 (-0.04%). USD/JPY (^USDJPY) is up +0.04 (+0.04%). The dollar index on Friday recovered from a 4-1/4 month low and closed higher as the stronger-than-expected increase in U.S. Feb non-farm payrolls boosted speculation the Fed will continue to taper QE3. EUR/USD surged to a 2-1/3 year high on short covering spurred on by reduced expectations for the ECB to expand monetary stimulus measures. USD/JPY posted a 1-1/2 month high on speculation the Fed will continue to taper stimulus while the BOJ expands its stimulus, which undercut the yen: Dollar index +0.056 (+0.07%), EUR/USD +0.00153 (+0.11%), USD/JPY +0.217 (+0.21%).
Apr WTI crude oil (CLJ14 -1.32%) this morning is down -1.26 (-1.23%) and Apr gasoline (RBJ14 -0.88%) is down -0.0250 (-0.84%). Apr crude and gasoline prices on Friday closed higher. Bullish factors included (1) the larger-than-expected increase in U.S. Feb payrolls, and (2) upbeat comments from New York Fed President Dudley who said he sees a “reasonably favorable” outlook for the U.S. economy. Closes: CLJ4 +1.02 (+1.00%), RBJ4 +0.0283 (+0.96%).

GLOBAL EVENT CALENDAR03/10/2014

US	0615 ET	Philadelphia Fed President Charles Plosser and BOF Governor Christian Noyer speak on a panel at a conference in Paris titled Monetary Policy and Banks and the Rise of Global Protectionism.
	1100 ET	USDA weekly grain export inspections.
	1200 ET	Mar WASDE crop production report.
JPN	0030 ET	Japan Feb bankruptcies, Jan -7.49% y/y.
	0100 ET	Japan Feb eco watchers survey current expected -0.6 to 54.1, Jan 54.7. Feb eco watchers survey outlook expected +1.5 to 50.5, Jan 49.0.
	2300 ET	Bank of Japan announces results of 2-day policy meeting.
EUR	0530 ET	Eurozone Mar Sentix investor confidence expected +0.7 to 14.0, Feb 13.3.
UK	0530 ET	UK Feb Lloyds employment confidence, Jan -2.
	2001 ET	UK Feb BRC sales like-for-like expected +1.8% y/y, Jan +3.9% y/y.

U.S. STOCK CALENDAR03/10/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
International Game Technology	IGT US	Annual General Meeting
McDonald's Corp	MCD US	February 2014 Sales and Revenue Release		2014
Navistar International Corp	NAV US	Annual General Meeting
Hospitality Properties Trust	HPT US	Annual General Meeting		Y 2014
Salix Pharmaceuticals Ltd	SLXP US	FDA Adcomm, Relistor subcu, opioid-induced constipation in chronic pain patient
Senior Housing Properties Trust	SNH US	Annual General Meeting		Y 2014
Healthcare Trust of America Inc	HTA US	Special Meeting