5 Large Caps for Momentum Investors

This morning I wanted to see which Large Cap stocks had the most consistent upward momentum so I used Barchart to sort the S&P 500 Large Index stocks to see which one had the most frequent new highs in the last month.  Today's Watch List includes:

Macerich (MAC), Waste Management (WM), Clorox (CLX), American Water Works (AWK) and Duke Energy (DUK)

Macerich (MAC)

Barcart technical indicators:

• 88% technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 17 new highs and up 12.25% in the last month
• Relative Strength Index 81.66%
• Technical support level at 84.33
• Recently traded at 86.67 with a 50 day moving average of 78.40

Waste Management (WM)

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 9.11% in the last month
• Relative Strength Index 85.66
• Technical sport level at 63.57
• Recently traded at 67.07 with a 50 day moving average of 61.65

Clorox (CLX)

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 7.50% in the last month
• Relative Strength Index 68.86%
• Technical support level at 136.36
• Recently traded at 139.03 with a 50 day moving average of 131.27

American Water Works (AWK)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 16 new highs and up 10.51% in the last month
• Relative Strength Index 74.31%
• Technical support level at 83.16
• Recently traded at 83.80 with a 50 day moving average of 76.38

Duke Energy (DUK)

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 8.55% in the last month
• Relative Strength Index 78.34%
• Technical support level at 85.11
• Recently traded at 86.93 with a 50 day moving average of 80.33

BARCHART MORNING CALL 6/1

BARCHART MORNING CALL

Monday, June 1st, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 +0.23%) this morning are little changed, down -0.06% ahead of U.S. economic data on May ISM manufacturing and Apr personal spending that are expected to show a pickup in growth. European stocks are up +0.02& as they hover just above a 2-week low. Gains in European stocks were limited as Greece's debt payment deadlines draw closer amid a standoff with creditors. Asian stocks closed mixed: Japan +0.03%, Hong Kong +0.63%, China +4.71%, Taiwan -0.78%, Australia -0.72%, Singapore closed for holiday, South Korea -0.63%, India +0.07%. Chinese stocks closed sharply higher after a gauge of Chinese manufacturing activity expanded or a third month. Another positive for Chinese stocks was a report from people familiar with the situation that China was considering doubling the size of a local bond-swap program to 1 trillion yuan ($81 billion) from 500 billion yuan that would be authorized to swap bonds issued by provinces and cities in an attempt to clean up local government finances. The bond-swap program includes inducements for banks to buy new, longer-maturity bonds that may alleviate a funding crunch among Chinese provinces that had threatened to deepen China's economic slowdown.
Commodity prices are mostly lower. Jul crude oil (CLN15 -1.19%) is down -1.04% and Jul gasoline (RBN15 -0.67%) is down -0.61. Metals prices are weaker. Aug gold (GCQ15 -0.26%) is down -0.31% and Jul copper (HGN15 -0.38%) is down -0.24%. Agricultural prices are lower.
The dollar index (DXY00 +0.44%) is up +0.46%. EUR/USD (^EURUSD) is down -0.56%. USD/JPY (^USDJPY) is down -0.07%.

Sep T-note prices (ZNU15 -0.24%) are down -8 ticks.
Speaking at an event in Beijing, San Francisco Fed President John Williams said the U.S. economy is "basically in a good place," and he doesn't worry about a strong dollar weakening U.S. growth. He added that long-term interest rates are expected to rise and to be more normal in the next few years.
The China May manufacturing PMI rose +0.1 to 50.2, weaker than expectations of +0.2 to 50.3. The May non-manufacturing PMI fell -0.2 to 53.2, the slowest pace of expansion in 6-1/3 years.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) Apr personal spending (expected +0.2% after March's +0.4%) and Apr personal income (expected +0.3% after March's unchanged), (2) Apr PCE deflator (expected +0.2% y/y after March's +0.3% y/y) and Apr PCE core deflator (+1.3% y/y after March's +1.3% y/y), (3) a speech by Boston Fed President Eric Rosengren at the 2015 Workforce Stars Breakfast in Hartford, CT, (4) Apr construction spending (expected +0.7% m/m after March's -0.6% m/m), (5) May ISM manufacturing index (expected +0.5 to 52.0 after April's unchanged at 51.5), and (6) final-May Markit manufacturing PMI (expected unrevised at 53.8 vs prelim-May -0.3 to 53.8).
There is 1 of the Russell 1000 companies that reports earnings today: PVH Corp (consensus $1.38).
U.S. IPO's scheduled to price today include: none.
Equity conferences today include: Stifel Financial Corp WasteExpo Inestor Summit on Mon, American Society of Clinical Oncology Meeting on Mon-Tue, Andean Institutional Real Estate Forum on Mon-Tue, RBC - Conference: Global Energy & Power Executive Conference - New York on Mon-Tue, Jefferies Global Healthcare Conference on Mon-Wed, Bank of America Merrill Lynch Global Telecom & Media Conference on Tue, Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference on Tue, Keefe, Bruyette, & Woods Mortgage Finance Conference on Tue, RBC Global Energy Conference on Tue, Bank of America Merrill Lynch Global Technology Conference on Tue-Wed, Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, KBW Asset Management and Capital Markets Conference on Wed, Sandler O'Neill & Partners Global Exchange and Brokerage Conference on Wed, Deutsche Bank Global Industrials and Basic Materials Conference on Wed-Thu, FBN Securities: Field Trip - 8th Semi-Annual Silicon Valley Tour on Wed-Thu, Credit Suisse Engineering & Construction Conference on Thu, Morgan Stanley Leveraged Finance Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Juniper (JNPR +0.54%) was downgraded to 'Sell' from 'Neutral' at MKM Partners.
Wells Fargo said it sees a potential for 75% upside in DISH (DISH +0.70%) shares.
Duke Energy (DUK -0.29%) was upgraded to 'Outperform' from 'Market Perform' at Bernstein.
Verifone (PAY +0.37%) was upgraded to 'Outperform' from 'Market Perform' at Raymond James.
Enbridge (ENB -1.40%) and Boyd Gaming (BYD -0.28%) were both upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Coca-Cola (KO -0.44%) was upgraded to 'Outperform' from 'Market Perform' at BMO Capital.
According to DigiTimes, data from Gartner showed Q1 global server shipments up 13% y/y.
Citigroup (C -0.86%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Altera (ALTR +4.00%) jumped over 6% in pre-market trading after people familiar with the matter said that Intel INTC is near a deal to acquire the chipmaker.
Stonepine Capital reported a 5.2% passive stake in Aegerion (AEGR -1.02%) .
O'Reilly Automotive (ORLY -1.41%) increased its stock repurchase authorization by $500 million to $5.5 billion.
Ryanair (RYAAY -2.06%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Point72 reported a 5.0% passive stake in Achillion (ACHN +5.89%) .

MARKET COMMENTS

June E-mini S&Ps (ESM15 +0.23%) this morning are down -1.25 points (-0.06%). Friday's closes: S&P 500 -0.63%, Dow Jones -0.64%, Nasdaq -0.60%. The S&P 500 on Friday settled lower on the unresolved Greek situation and on the unexpected -6.1 point drop in the May Chicago PMI to 46.2, weaker than expectations of +0.7 to 53.0. Stocks found some support from the final-May U.S. consumer sentiment index, which rose +2.1 to 90.7, stronger than expectations of +0.9 to 89.5.
Sep 10-year T-notes (ZNU15 -0.24%) this morning are down -8 ticks. Friday's closes: TYU5 +9.50, FVU5 +6.50. Sep 10-year T-notes on Friday rallied to a 1-month high on ideas the Fed will be forced to delay a rate hike after Q1 GDP was revised lower to -0.7% from +0.2% and the Chicago PMI was expectedly weak at -6.1 points to 46.2. T-notes also found some carry-over support from a rally in German bunds to a 3-week high on the unresolved Greek debt crisis.
The dollar index (DXY00 +0.44%) this morning is u[ +0.443 (+0.46%). EUR/USD (^EURUSD)is down -0.0062 (-0.56%). USD/JPY (^USDJPY) is down -0.09 (-0.07%). Friday's closes: Dollar Index -0.058 (-0.06%), EUR/USD +0.00413 (+0.38%), USD/JPY +0.153 (+0.12%). The dollar index on Friday closed lower on talk of a delayed Fed rate hike after the downward revision for U.S. Q1 GDP to -0.7% and the unexpected -6.1 point decline in the May Chicago PMI.
July WTI crude oil (CLN15 -1.19%) this morning is down 63 cents (-1.04%). July gasoline (RBN15 -0.67%) is down -0.0126 (-0.61%). Friday's closes: CLN5 +2.62 (+4.54%), RBN5 +0.0922 (+4.68%). Jul crude oil and gasoline on Friday settled sharply higher on the weaker dollar and on the EPA's cut in its corn ethanol mandate levels to 13.4 billion gallons 2015 and 14 billion gallons for 2016 (from 15 billion gallons), which will increase U.S. gasoline usage levels.

GLOBAL EVENT CALENDAR06/01/2015

US	0830 ET	Apr personal spending expected +0.2%, Mar +0.4%. Apr personal income expected +0.3%, Mar unch.
	0830 ET	Apr PCE deflator expected +0.1% m/m and +0.2% y/y, Mar +0.2% m/m and +0.3% y/y. Apr PCE core deflator expected +0.2% m/m and +1.3% y/y, Mar +0.1% m/m and +1.3% y/y.
	0905 ET	Boston Fed President Eric Rosengren speaks from a prepared text at the 2015 Workforce Stars Breakfast in Hartford, CT.
	0945 ET	Final-May Markit manufacturing PMI expected unrevised at 53.8, prelim-May -0.3 to 53.8.
	1000 ET	Apr construction spending expected +0.7% m/m, Mar -0.6% m/m.
	1000 ET	May ISM manufacturing index expected +0.5 to 52.0, Apr unch at 51.5. May ISM new orders, Apr +1.7 to 53.5. May ISM employment, Apr -1.7 to 48.3. May ISM prices paid expected +2.5 to 43.0, Apr +1.5 to 40.5.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA weekly crop progress.
JPN	0100 ET	Japan May vehicle sales, Apr +5.0% y/y.
	2130 ET	Japan Apr labor cash earnings expected +0.4% y/y, Mar unch y/y. Apr real cash earnings, Mar -2.7% y/y.
GER	0355 ET	Revised German May Markit/BME manufacturing PMI, previous -0.7 to 51.4.
	0800 ET	German May CPI (EU harmonized) expected unch m/m and +0.6% y/y, Apr -0.1% m/m and +0.3% y/y.
EUR	0400 ET	Revised Eurozone May Markit manufacturing PMI, previous +0.3 to 52.3.
UK	0430 ET	UK May Markit manufacturing PMI expected +0.6 to 52.5, Apr 51.9.

U.S. STOCK CALENDAR06/01/2015

Company	Ticker	Time	Event Description	Period	Estimate
American Water Works Co Inc	AWK US	8:45	Annual General Meeting - Second Call	Y 2015
Wendy's Co/The	WEN US	10:00	Annual General Meeting
Wendy's Co/The	WEN US	10:00	Annual General Meeting
Staples Inc	SPLS US	16:00	Annual General Meeting
PVH Corp	PVH US	Aft-mkt	Q1 2016 Earnings Release	Q1 2016	1.384
Windstream Holdings Inc	WIN US	Aft-mkt	Talen Energy Replaces Windstream Holdings in S&P MidCap 400
Arthur J Gallagher & Co	AJG US		Annual General Meeting
Questar Corp	STR US		Roadshow - Europe - Day 1	Y 2015
UnitedHealth Group Inc	UNH US		Annual General Meeting
Hospitality Properties Trust	HPT US		Annual General Meeting - Proxy Fight
Arista Networks Inc	ANET US		Annual General Meeting

BARCHART MORNING CALL 5/14

BARCHART MORNING CALL

Thursday, May 14th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 +0.50%) this morning are up +0.45% on speculation that Wednesday’s weaker-than-expected U.S. Apr retail sales may keep the Fed from raising interest rates. European stocks are down -0.01% amid a stronger euro as EUR/USD climbed to a 2-3/4 month high. Another negative for European stocks is an increase in the 10-year German bund yield to a 1-week high of 0.755%. Greece's ASE Stock Index is up +1.19% after Greek Finance Minister Varoufakis said his government agrees with its creditors on most issues. Asian stocks closed mostly lower: Japan -0.98%, Hong Kong +0.14%, China +0.06%, Taiwan -1.16%, Australia -0.33%, Singapore +0.08%, South Korea +0.17%, India -0.17%. Most Asian bourses weakened as exporters declined after a weak U.S. retail sales report raised concern about U.S. economic growth and demand for Asian goods.
Commodity prices are mostly higher due to a weaker dollar. Jun crude oil (CLM15 +0.13%) is up +0.12% and Jun gasoline (RBM15 +0.95%) is up +0.72%. Metals prices are mixed. Jun gold (GCM15 -0.14%) is up +0.07% at a 1-1/4 month high. Jul copper (HGN15 -0.24%) is down -0.19%. Agriculture prices are higher.
The dollar index (DXY00 -0.30%) is down -0.51% at a new 3-1/2 month low. EUR/USD (^EURUSD) is up +0.67% at a 2-3/4 month high. USD/JPY (^USDJPY) is up +0.07% and GBP/USD is up +0.31% at a 5-1/2 month high.

Jun T-note prices (ZNM15 +0.06%) are up +4 ticks.
Greek Finance Minister Varoufakis said that Greece agrees with its creditors on most issues and that Greece "will sink" without reforms. He added that Greece needs a debt "redesigning" that will substantially extend repayment deadlines, with possible solutions including bond swaps. Varoufakis insists that he will reject any deal with international bailout creditors that does not help his country exit its economic crisis. According to an official familiar with the matter, Greece has to raise at least 3 billion euros to meet minimum budget targets acceptable by creditors.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) weekly initial unemployment claims (expected +8,000 to 273,000 after last week's +3,000 to 265,000) and continuing claims (expected +4,000 to 2.232 million after last week's -28,000 to 2.228 million), (2) April final-demand PPI (expected +0.1% m/m and -0.8% y/y after March's +0.2% m/m and -0.8% y/y) and Apr PPI ex-food & energy (expected +0.1% m/m and +1.1% y/y after March's +0.2% m/m and +0.9% y/y), and (3) the Treasury's auction of $16 billion of 30-year T-bonds.
There are 10 of the Russell 100 companies that report earnings today with notable reports including: Applied Materials (consensus 0.28), Nordstrom (0.71), Kohl's (0.55), Dillard;s (2.78), Symantec (0.44).
U.S. IPO's scheduled to price today include: Landmark Infrastructure (LMRK), Code Rebel (CDRB).
Equity conferences during the remainder of this week include: Bank of America Merrill Lynch Health Care Conference on Tue-Thu, Jefferies Global Technology, Media and Telecom Conference on Tue-Thu, Morgan Stanley E&P and Oil Services Conference on Tue-Thu, MoffettNathanson Media & Communications Summit on Wed-Thu, Bank of America Merrill Lynch Transportation Conference on Thu, Barclays Biotech CEO/CFO Conference on Thu, Royal Bank of Canada Aerospace & Defense Investor Day on Thu.

OVERNIGHT U.S. STOCK MOVERS

Kohl's (KSS +0.28%) reported Q1 EPS of 63 cents, better than consensus of 55 cents.
Urban Outfitters (URBN -0.27%) was upgraded to 'Outperform' from 'Market Perform' at Telsey Advisory.
DuPont (DD -7.37%) was upgraded to 'Neutral' from 'Underperform' at BofA/Merrill Lynch.
J.B. Hunt (JBHT -0.61%) and Ingersoll-Rand (IR +0.89%) were both upgraded to 'Overweight' from 'Sector Weight' at KeyBanc.
Citigroup keeps a 'Buy' rating on Global Payments (GPN +1.23%) and raises its price target on the stock to $118.50 from $110.
CarMax (KMX -0.22%) was initiated with a 'Buy' at Sterne Agee CRT with a price target of $87.
Teekay (TK -0.62%) reported Q1 adjusted EPS of 22 cents, below consensus of 29 cents.
AOL (AOL +0.49%) was downgraded to 'Neutral' from 'Buy' at UBS.
Superior Energy (SPN -0.37%) was upgraded to 'Outperform' from 'Perform' at Oppenheimer.
Duke Energy (DUK -2.44%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
J.C. Penney (JCP -1.91%) reported a Q1 EPS loss of -57 cents, a smaller loss than consensus of -77 cents.
Vipshop (VIPS +3.41%) reported Q1 adjusted EPS of 13 cents, above consensus of 10 cents.
Cisco (CSCO +0.41%) reported Q3 EPS of 54 cents, higher than consensus of 53 cents.
Jack in the Box (JACK -0.05%) reported Q2 operating EPS of 69 cents, better than consensus of 67 cents.
Roundy's (RNDY -1.51%) reported a Q1 EPS loss of -1 cent, a smaller loss than consensus of -3 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM15 +0.50%) this morning are up +9.50 points (+0.45%). Wednesday's closes: S&P 500 -0.03%, Dow Jones -0.04%, Nasdaq +0.13%. The S&P 500 on Wednesday closed little changed. Stocks were undercut by the weaker-than-expected U.S. Apr retail sales report of unchanged and +0.1% ex-autos (vs expectations of +0.2% and +0.5% ex-autos) and by carry-over weakness from European stocks that were hurt by a lower close in German bund prices. Stocks received some support from continued M&A activity as Owens-Illinois offered to buy Vitro SAB for $2.15 billion and Danaher announced the acquisition of Pall Corp. for $13.8 billion. There was also some strength in the technology sector after Microsoft rallied on Deutsche Bank's update to "Buy" from "Hold."
Jun 10-year T-notes (ZNM15 +0.06%) this morning are up +4 ticks. Wednesday's closes: TYM5 -2.00, FVM5 +3.00. Jun 10-year T-notes on Wednesday closed lower on carry-over weakness from a lower close in German bund prices. Supportive factors included the weaker-than-expected U.S. April retail sales report of unchanged and +0.1% ex-autos and strong demand for the 10-year T-note auction with foreign buyers taking 60.2% of the auction.
The dollar index (DXY00 -0.30%) this morning is down -0.481 (-0.51%) at a 3-1/2 month low. EUR/USD (^EURUSD) is up +0.0076 (+0.67%) at a 2-3/4 month high. USD/JPY (^USDJPY) is up +0.08 (+0.07%). Wednesday's closes: Dollar Index -0.917 (-0.97%), EUR/USD +0.0141 (+1.26%), USD/JPY -0.714 (-0.60%). The dollar index on Wednesday fell to a 3-1/4 month low on the weaker-than-expected U.S. April retail sales report and on the as-expected increase in Eurozone Q1 GDP, which was supportive for EUR/USD.
Jun WTI crude oil (CLM15 +0.13%) this morning is up +7 cents (+0.12%) and Jun gasoline (RBM15 +0.95%) is up +0.0147 (+0.72%). Wednesday's closes: CLM5 -0.25 (-0.41%), RBM5 -0.0052 (-0.25%). Jun crude oil and gasoline prices on Wednesday closed lower on the EIA report showing that U.S. crude production rose +5,000 bpd and that the U.S. refinery utilization rate fell sharply by -1.8 points to 91.2%, which will reduce crude oil demand and boost inventories. Supportive factors included the decline in the dollar index to a 3-1/4 month low and the -2.19 million bbl decline in EIA crude inventories (vs expectations of -500,000 bbl).

GLOBAL EVENT CALENDAR05/14/2015

US	0830 ET	Weekly initial unemployment claims expected +8,000 to 273,000, previous +3,000 to 265,000. Weekly continuing claims expected +4,000 to 2.232 million, previous -28,000 to 2.228 million.
	0830 ET	Apr PPI final demand expected +0.1% m/m and -0.8% y/y, Mar +0.2% m/m and -0.8% y/y. Apr PPI ex-food & energy expected +0.1% m/m and +1.1% y/y, Mar +0.2% m/m and +0.9% y/y.
	0830 ET	USDA weekly Export Sales.
	1100 ET	Treasury announces amount of 10-year TIPS to be auctioned May 21.
	1300 ET	Treasury auctions $16 billion 30-year T-bonds.
JPN	0200 ET	Japan Apr machine tool orders, Mar +14.9% y/y.
	1950 ET	Japan Apr PPI expected +0.1% m/m and -2.1% y/y, Mar +0.3% m/m and +0.7% y/y.

U.S. STOCK CALENDAR05/14/2015

Company	Ticker	Time	Event Description	Period	Estimate
Kohl's Corp	KSS US	7:00	Q1 2016 Earnings Release	Q1 2016	0.55
ADT Corp/The	ADT US	8:00	Analyst and Investor Day	Y 2015
Ford Motor Co	F US	8:30	Annual General Meeting	Y 2015
Kohl's Corp	KSS US	8:30	Q1 2016 Earnings Call	Q1 2016
Norfolk Southern Corp	NSC US	8:30	Annual General Meeting	Y 2015
Simon Property Group Inc	SPG US	8:30	Annual General Meeting	Y 2015
NiSource Inc	NI US	9:00	Business Update Call
Genworth Financial Inc	GNW US	9:00	Annual General Meeting	Y 2015
Dow Chemical Co/The	DOW US	10:00	Annual General Meeting	Y 2015
Nucor Corp	NUE US	10:00	Annual General Meeting	Y 2015
Sealed Air Corp	SEE US	10:00	Annual General Meeting	Y 2015
Exxon Mobil Corp	XOM US	10:30	Executive Compensation Update Call
Apache Corp	APA US	11:00	Annual General Meeting	Y 2015
Host Hotels & Resorts Inc	HST US	11:00	Annual General Meeting
Mosaic Co/The	MOS US	11:00	Annual General Meeting	Y 2015
Progressive Corp/The	PGR US	13:00	Investor Relations Conference Call
Union Pacific Corp	UNP US	13:00	Annual General Meeting	Y 2015
Invesco Ltd	IVZ US	13:00	Annual General Meeting	Y 2015
Edwards Lifesciences Corp	EW US	13:00	Annual General Meeting	Y 2015
Kohl's Corp	KSS US	14:00	Annual General Meeting	Y 2015
Amgen Inc	AMGN US	14:00	Annual General Meeting	Y 2015
Keurig Green Mountain Inc	GMCR US	16:00	Analyst Meeting	Y 2015
Applied Materials Inc	AMAT US	16:30	Q2 2015 Earnings Call	Q2 2015
Nordstrom Inc	JWN US	16:45	Q1 2016 Earnings Call	Q1 2016
Symantec Corp	SYMC US	17:00	Q4 2015 Earnings Call	Q4 2015
Nordstrom Inc	JWN US	Aft-mkt	Q1 2016 Earnings Release	Q1 2016	0.707
Applied Materials Inc	AMAT US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.279
Symantec Corp	SYMC US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.439
Baker Hughes Inc	BHI US		Annual General Meeting
Equifax Inc	EFX US		Investor Meeting - London	Y 2015
Nucor Corp	NUE US		Annual General Meeting
Ventas Inc	VTR US		Annual General Meeting
AutoNation Inc	AN US		Annual General Meeting
Yum! Brands Inc	YUM US		Investor Conference-China-Day 2	Y 2015
Republic Services Inc	RSG US		Annual General Meeting
Cimarex Energy Co	XEC US		Annual General Meeting
Wyndham Worldwide Corp	WYN US		Annual General Meeting

BARCHART MORNING CALL 2/18

BARCHART MORNING CALL

Wednesday, February 18th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH15 -0.06%) this morning are down -0.06% and European stocks are up +0.70% at a 6-1/2 year high on speculation Greece and its creditors may be moving toward a compromise. A rally in European bank stocks is leading the markets higher after a person familiar with the matter said Greece may seek a 6-month extension of a loan agreement as soon as today. Asian stocks closed higher: Japan +1.18%, Hong Kong +0.19%, China, Taiwan and South Korea closed for holiday, Australia +0.98%, Singapore +0.58%, India +0.63%. Japan's Nikkei Stock Index climbed to a 7-1/2 year high after the BOJ maintained record stimulus following its 2-day policy meeting and after BOJ Governor Kuroda pledged to adjust monetary policy if needed. Commodity prices are mixed. Mar crude oil (CLH15 -1.70%) is down -1.44% and Mar gasoline (RBH15 -1.20%) is down -0.71%. Apr gold (GCJ15 -0.26%) is down -0.29% at a 6-week low on optimism that Greece will ease a standoff with its creditors and before the minutes of the Jan 27-28 FOMC meeting that may signal the Fed is closer to raising interest rates. Mar copper (HGH15 +0.02%) is down -0.08%. Agriculture prices are mixed. The dollar index (DXY00 +0.24%) is up +0.29%. EUR/USD (^EURUSD) is down -0.34%. USD/JPY (^USDJPY) is up +0.07%. Mar T-note prices (ZNH15 -0.05%) are down -2.5 ticks at a 6-week low.
UK Jan jobless claims fell -38,600, more than expectations of -25,000 and the most in 7 months. The Jan claimant count rate fell -0.1 to 2.5%, right on expectations and the lowest in 6-3/4 years.
The UK Dec ILO unemployment rate unexpectedly fell -0.1 to 5.7% in the 3-months through Dec, better than expectations of unch at 5.8% and the lowest in 6-1/2 years.
Dec avg weekly earnings rose +2.1% 3-mon avg, more than expectations of +1.7% 3-mon avg and the most in 1-1/2 years. Dec avg weekly earnings ex-bonus rose +1.7% 3-mon avg, less than expectations of +1.8% 3-mon avg.
Eurozone Dec construction output fell -0.8% m/m and -3.5% y/y, with the -3.5% y/y drop the largest annual decline in 1-1/2 years.

U.S. STOCK PREVIEW

Today’s Jan housing starts report is expected to show a -1.7% decline to 1.070 million, giving back a little of December’s +4.4% increase to 1.089 million. Today’s Jan final-demand PPI index is expected to fall to +0.4% y/y from +1.1% in December. Meanwhile, today’s Jan core PPI index is expected to edge lower to +2.0% y/y from +2.1% in December. Today’s Jan industrial production report is expected to show an increase of +0.3%, recovering somewhat after the -0.1% decline seen in December. The FOMC today will release the minutes from the recent Jan 27-28 FOMC meeting, which was a relatively uneventful meeting.
There are 1 of the S&P 500 companies that report earnings today with notable reports including: Marathon Oil (consensus $0.02), Williams Companies (0.24), Marriott (0.67), Duke Energy (0.88), Garmin (0.79), Fluor (1.10). Equity conferences this week include: Consumer Analysts Group of New York Conference on Tue-Thu, and Barclays Industrial Select Conference on Wed-Thu.

OVERNIGHT U.S. STOCK MOVERS

Duke Energy (DUK -0.56%) reported Q4 EPS of 87 cents, below consensus of 88 cents.
Allegion PLC (ALLE -0.17%) reported Q4 EPS of 76 cents, better than consensus of 68 cents.
Exxon Mobil (XOM -0.34%) fell over 2% in pre-market trading after Berkshire Hathaway announced it had exited its $3.7 billion investment in the company.
Owens & Minor (OMI -1.00%) reported Q4 adjusted EPS of 49 cents, below consensus of 50 cents, and then lowered guidance on fiscal 2015 EPS to $1.90-$1.95, at the low end of consensus of $1.95.
Valmont (VMI +0.85%) reported Q4 adjusted EPS of $1.62, less than consensus of $1.65.
Terex ({=TEX reported Q4 adjusted EPS of 72 cents, higher than consensus of 68 cents.
CF Industries (CF -0.89%) fell over 2% in after-hours trading after it reported Q4 EPS of $4.82, below consensus of $5.08.
Norwegian Cruise Line (NCLH -0.71%) reported Q4 adjusted EPS of 36 cents, less than consensus of 37 cents.
KAR Auction (KAR -0.11%) reported Q4 adjusted EPS of 40 cents, better than consensus of 29 cents.
Flowserve (FLS +0.46%) reported Q4 EPS of $1.16, above consensus of $1.13.
Analog Devices (ADI +3.09%) reported Q1 EPS of 63 cents, better than consensus of 61 cents.
Jack in the Box (JACK +1.19%) rose over 3% in after-hours trading after it reported Q1 EPS of 93 cents, higher than consensus of 87 cents, and then raised guidance on fiscal 2015 EPS to $2.85-$2.97, above consensus $2.84.
AMC Entertainment (AMC +0.91%) reported Q4 EPS of 30 cents, well above consensus of 20 cents.
Agilent (A +0.92%) reported Q1 EPS of 41 cents, right on consensus, but then lowered guidance on fiscal 2015 EPS to $1.67- $1.73, on the low side of consensus at $1.73.
Fossil (FOSL +0.89%) reported Q4 EPS of $3.00, below consensus of $3.07, and then lowered guidance on fiscal 2015 EPS to$5.45-$6.05, well below consensus of $7.54.
Rackspace (RAX -0.28%) reported Q4 EPS of 26 cents, above consensus of 19 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 -0.06%) this morning are down -1.25 points (-0.06%). The S&P 500 index on Tuesday posted a new record high and closed higher: S&P 500 +0.16%, Dow Jones +0.16%, Nasdaq +0.03%. Bullish factors included (1) reduced Greek default concerns after an unconfirmed report that Greece’s government may request an extension of its loan agreement for 6 months, something it previously said it would not do, and (2) a rally in health-care stocks. Stocks had opened lower on bearish factors that included (1) the -2.17 point decline in the Feb Empire manufacturing index, weaker than expectations of -1.95 to 8.00, and (2) the unexpected -2 point decline in the Feb NAHB housing market index to 55, weaker than expectations of +1 to 58 and a 4-month low.
Mar 10-year T-notes (ZNH15 -0.05%) this morning are down -2.5 ticks at a 6-week low. Mar 10-year T-note futures prices on Tuesday tumbled to a 1-1/4 month low and closed lower. Closes: TYH5 -31.50, FVH5 -15.50. Bearish factors included (1) hawkish comments from Cleveland Fed President Mester who said that she sees June as a “viable option” for when to begin raising interest rates, and (2) fund selling of T-notes after a report that Greece will ask for a 6-month extension of its loan agreement, which reduced Greek default concerns and curbed safe-haven demand for T-notes.
The dollar index (DXY00 +0.24%) this morning is up +0.273 (+0.29%). EUR/USD (^EURUSD) is down -0.0039 (-0.34%). USD/JPY (^USDJPY) is up +0.08 (+0.07%). The dollar index on Tuesday fell to a 1-week low and closed lower: Dollar index -0.140 (-0.15%), EUR/USD +0.00576 (+0.51%), USD/JPY +0.763 (+0.4%). Bearish factors included (1) strength in EUR/USD which rallied to a 1-week high after the German Feb ZEW survey expectations of economic growth rose to a 1-year high, and (2) weaker-than-expected U.S. economic data on Feb Empire manufacturing and the Feb NAHB housing market index that may prompt the Fed to delay interest rate hikes.
Mar WTI crude oil (CLH15 -1.70%) this morning is down -77 cents (-1.44%) and Mar gasoline (RBH15 -1.20%) is down -0.0113 (-0.71%). Mar crude and Mar gasoline on Tuesday settled mixed: CLH5 +0.75 (+1.42%), RBH5 -0.0361 (-2.22%). Bullish factors included (1) the fall in the dollar index to a 1-week low, and (2) the rally in the S&P 500 to a new all-time high. Bearish factors included expectations that Thursday’s weekly EIA data will show crude supplies rose +3.0 million bbl to a record high of 420 million bbl.

GLOBAL EVENT CALENDAR02/18/2015

US	0700 ET	Weekly MBA mortgage applications, previous -9.0% with purchase sub-index -6.5% and refi sub-index -10.3%.
	0830 ET	Jan housing starts expected -1.7% to 1.070 million, Dec +4.4% to 1.089 million. Jan building permits expected +1.0% to 1.069 million, Dec +0.6% to 1.058 million.
	0830 ET	Jan PPI final demand expected -0.4% m/m and +0.4% y/y, Dec -0.3% m/m and +1.1% y/y. Jan PPI ex food & energy expected +0.1% m/m and +2.0% y/y, Dec +0.3% m/m and +2.1% y/y.
	0915 ET	Jan industrial production expected +0.3%, Dec -0.1%. Jan capacity utilization expected +0.2 to 79.9%, Dec -0.3 to 79.7%.
	1400 ET	Minutes of the Jan 27-28 FOMC meeting.
JPN	0100 ET	Revised Japan Jan machine tool orders.
	1850 ET	Japan Jan trade balance expected -1.681 trillion yen, Dec -665.2 billion yen. Jan exports expected +13.5% y/y, Dec +12.8% y/y. Jan imports expected -4.9% y/y, Dec +1.9% y/y.
	2330 ET	Japan Dec all-industry activity index expected -0.3% m/m, Nov +0.1% m/m.
	n/a	BOJ announces interest rate decision following 2-day policy meeting.
UK	0430 ET	UK Jan jobless claims change expected -25,000, Dec -29,700. Jan claimant count rate expected +2.5%, Dec 2.6%.
	0430 ET	UK Dec ILO unemployment rate expected 5.8% 3-months through Dec, previous 5.8% 3-months through Nov.
	0430 ET	UK Dec avg weekly earnings expected +1.7% 3-mon avg, Nov +1.7% 3-mon avg. Dec weekly earnings ex-bonus expected +1.8% 3-mon avg, Nov +1.8% 3-mon avg.
	0430 ET	BOE minutes from the Feb 4-5 policy meeting.
EUR	0500 ET	Eurozone Dec construction output, Nov -0.1% m/m and +2.2% y/y.

U.S. STOCK CALENDAR02/18/2015

Company	Ticker	Time	Event Description	Period	Estimate
NiSource Inc	NI US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.518
Fluor Corp	FLR US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	1.102
Allegion PLC	ALLE US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.68
Actavis plc	ACT US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	3.906
Garmin Ltd	GRMN US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.788
Duke Energy Corp	DUK US	7:00	Q4 2014 Earnings Release	Q4 2014	0.879
DENTSPLY International Inc	XRAY US	7:00	Q4 2014 Earnings Release	Q4 2014	0.608
Allegion PLC	ALLE US	8:30	Q4 2014 Earnings Call	Q4 2014
Actavis plc	ACT US	8:30	Investor Day	Y 2015
DENTSPLY International Inc	XRAY US	8:30	Q4 2014 Earnings Call	Q4 2014
NiSource Inc	NI US	9:00	Q4 2014 Earnings Call	Q4 2014
Fluor Corp	FLR US	9:00	Q4 2014 Earnings Call	Q4 2014
CF Industries Holdings Inc	CF US	9:00	Q4 2014 Earnings Call	Q4 2014
FirstEnergy Corp	FE US	9:00	Q4 2014 Earnings Call	Q4 2014
Duke Energy Corp	DUK US	10:00	Q4 2014 Earnings Call	Q4 2014
Vornado Realty Trust	VNO US	10:00	Q4 2014 Earnings Call	Q4 2014
Garmin Ltd	GRMN US	10:30	Q4 2014 Earnings Call	Q4 2014
Devon Energy Corp	DVN US	11:00	Q4 2014 Earnings Call	Q4 2014
Flowserve Corp	FLS US	11:00	Q4 2014 Earnings Call	Q4 2014
Nabors Industries Ltd	NBR US	11:00	Q4 2014 Earnings Call	Q4 2014
Cimarex Energy Co	XEC US	11:00	Q4 2014 Earnings Call	Q4 2014
Marriott International Inc/MD	MAR US	17:00	Q4 2014 Earnings Release	Q4 2014	0.65
EOG Resources Inc	EOG US	Aft-mkt	Q4 2014 Earnings Release	Q4 2014	0.999
Marathon Oil Corp	MRO US	Aft-mkt	Q4 2014 Earnings Release	Q4 2014	0.02
Williams Cos Inc/The	WMB US	Aft-mkt	Q4 2014 Earnings Release	Q4 2014	0.235
Progressive Corp/The	PGR US		January 2015 Sales and Revenue Release	2015

5 Solid Large Caps

The whole market including the large cap stocks have taken a hit recently.  As I write this post the majority of the S&P 500 Large Cap Index stocks are trading below their moving averages:

• Only 17.20% are trading above their 20 day moving averages
• Only 22.00% are trading above their 50 day moving averages
• Only 38.40% are trading above their 100 day moving averages

Not a great sign of market confidence is it?

This morning I used Barchart to sort the S&P 500 Large Cap Index stock for the 5 with the best technical buy signals and then used the Flipchart feature to find the charts I liked.  The 5 that are include in today's Van Meerten Stock Picks list are Pepsico (PEP), Kroger (KR), Coca-Cola (KO), Duke Energy (DUK) and Costco Wholesale (COST):

Pepsico (PEP)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 3.12% in the last month
• Relative Strength Index 63.67%
• Barchart computes a technical support level at 92.50
• Recently traded at 94.75 with a 50 day moving average of 92.17

Kroger (KR)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 3.95% in the last month
• Relative Strength Index 64.55%
• Barchart computes a technical support level at 53.00
• Recently traded at 53.95 with a 50 day moving average of 51.32

Coca-Cola (KO)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day  moving averages
• 11 new highs and up 5.45% in the last month
• Relative Strength Index 71.09%
• Barchart computes a technical support level at 43.38
• Recently traded at 44.42 with a 50 day moving average of 41.61

Duke Energy (DUK)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 4.69% in the last month
• Relative Strength Index 66.30%
• Barchart computes a technical support level at 76.18
• Recently traded at 77.55 with a 50 day moving average of 73.51

Costco Wholesale (COST)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 2.16% in the last month
• Relative Strength Index 64.64%
• Barchart computes a technical support level at 126.37

Recently traded at 127.92 with a 50 day moving average of 123.35

BARCHART MORNING CALL

BARCHART MORNING CALL 

Thursday, August 7th, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU14 +0.21%) this morning are up +0.16% as Q2 stock earnings results continue to surprise on the upside, while European stocks are down -0.36% after German industrial output rose less than expected along with concern the Ukraine conflict and sanctions against Russia will undermine the European economy. Russia's Micex Stock Index tumbled to a 3-month low as retailers plunged on concern a ban on food imports from sanctioned countries will cut earnings after Russian President Putin ordered restrictions on food and agricultural imports for one year from countries that have imposed or supported sanctions against Russia. Limiting losses in European stocks is the fall in the 10-year German bund yield to a record low 1.078% ahead of today's ECB meeting. Asian stocks closed mostly lower: Japan +0.48%, Hong Kong -0.80%, China -1.51%, Taiwan -0.14%, Australia -0.05%, Singapore -0.18%, South Korea -0.36%, India -0.30%. Commodity prices are mostly lower. Sep crude oil (CLU14 -0.02%) is down -0.33% at a fresh 6-month low. Sep gasoline (RBU14 +0.07%) is down -0.11%. Dec gold (GCZ14 -0.05%) is down -0.09%. Sep copper (HGU14 +0.16%) is up +0.14%. Agriculture and livestock prices are mostly lower with Oct lean hogs down -0.71% at a 3-1/2 month low. The dollar index (DXY00 +0.02%) is up +0.05%. EUR/USD (^EURUSD) is down -0.06%. USD/JPY (^USDJPY) is up +0.20%. Sep T-note prices (ZNU14 +0.16%) are up +4.5 ticks on positive carry-over from a rally in German bunds.
German Jun industrial production rose +0.3% m/m and unexpectedly fell -0.5% y/y, weaker than expectations of +1.2% m/m and +0.3% y/y with the -0.5% y/y drop the largest annual decline in 11 months.
As expected, the BOE maintained its benchmark rate at 0.50% and kept its asset purchase target at 375 billion pounds.

U.S. STOCK PREVIEW

Today’s U.S. weekly unemployment claims report should continue to show a slowly-improving layoff picture. Today’s initial unemployment claims report is expected to show a slight +3,000 increase to 305,000 after last week’s +23,000 gain to 302,000.  Today’s June U.S. consumer credit report is expected to show another strong increase of +$18.700 billion, close to May’s increase of +$19.602 billion.
There are 17 of the S&P 500 companies that report earnings today with notable reports including: Mylan (consensus $0.72), AES Corp. (0.28), Wendy's (0.10), InterContinentalExchange (2.02), Scripps Networks (1.13), Duke Energy (0.98). Equity conferences for the remainder of this week include: Black Hat USA 2014 on Wed-Thu and Needham Advanced Industrial Technologies Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Duke Energy (DUK -1.61%) reported Q2 EPS of $1.11, well above consensus of 98 cents.
Carnival Corp. (CCL +0.69%) rose nearly 3% in pre-market trading after BOA/Merril upgraded the stock to 'Buy' from 'Neutral.'
Aetna (AET -0.18%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Esterline (ESL +0.14%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs who also raised their price target on the stock to $140 from $111.
Energy Transfer Partners (ETP -1.49%) reported Q2 EPS of 79 cents, higher than consensus of 64 cents.
Babcock & Wilcox (BWC -0.35%) sank over 12% in after-hours trading after it reported Q2 adjusted EPS of 44 cents, lower than consensus of 49 cents, and then lowered guidance on fiscal 2014 EPS view to $1.70-$1.85 from $2.00-$2.20, below consensus of $2.12.
Transocean (RIG -1.09%) rose over 2% in after-hours trading after it reported Q2 adjusted EPS of $1.61, well ahead of consensus of $1.12.
CF Industries (CF +1.36%) reported Q2 EPS of $6.10, well below consensus of $6.71.
Envision Healthcare (EVHC -0.62%) reported Q2 adjusted EPS of 28 cents, better than consensus of 25 cents, and then raised guidance on 2014 adjusted EPS view to $1.15-$1.20 from $1.10-$1.15, higher than consensus of $1.13.
CenturyLink (CTL -1.32%) rallied nearly 3% in after-hours trading after it reported Q2 adjusted EPS of 72 cents, higher than consensus of 64 cents.
Prudential (PRU +0.96%) reported Q2 EPS of $2.49, stronger than consensus of $2.35.
21st Century Fox (FOXA +3.29%) climbed over 2% in after-hours trading after it reported Q4 EPS of 42 cents, higher than consensus of 38 cents.
Symantec (SYMC -0.79%) reported Q1 EPS of 45 cents, better than consensus of 42 cents.
Keurig Green Mountain (GMCR +0.33%) fell over 2% in after-hours trading after it reported Q3 EPS of 99 cents, above consensus of 88 cents, and then raised guidance on fiscal 2014 EPS outlook to $3.71-$3.78 from $3.63-$3.73, although that is still below consensus of $3.78.

MARKET COMMENTS

Sep E-mini S&Ps (ESU14 +0.21%) this morning are up +3.00 points (+0.16%). The S&P 500 index on Wednesday opened lower at a 2-1/4 month low on geopolitical concerns after NATO said there's a risk of Russia sending troops into Ukraine under the "pretext" of a humanitarian or peacekeeping mission. Stock prices recovered, however, and closed little changed: S&P 500 unch, Dow Jones +0.08%, Nasdaq -0.02%. Bullish factors included (1) the U.S. Jun trade balance that unexpectedly narrowed to a -$41.5 billion deficit, better than expectations of an increase to a -$44.8 billion deficit and the smallest deficit in 5 months, which is positive for GDP growth, and (2) positive Q2 company earnings results as 75% of companies in the S&P 500 that have reported earnings thus far have beaten profit estimates.
Sep 10-year T-notes (ZNU14 +0.16%) this morning are up +4.5 ticks. Sep 10-year T-note futures prices on Wednesday climbed to a 2-month high on increased safe-haven demand after NATO said that there's a risk that Russia will invade Ukraine. Another positive was the Treasury's announcement that it will auction $67 billion of T-notes and bonds in next week's quarterly refunding, -$2 billion less than the prior refunding. T-notes came off of their best levels after the S&P 500 recovered from a 2-1/4 month low and. Closes: TYU4 +3.50, FVU4 +2.50.
The dollar index (DXY00 +0.02%) this morning is up +0.039 (+0.05%). EUR/USD (^EURUSD) is down -0.0008 (-0.06%) and USD/JPY (^USDJPY) is UP +0.20 (+0.20%). The dollar index on Wednesday posted a 10-3/4 month high on increased safe-haven demand over concern Russia may soon invade Ukraine. EUR/USD fell to an 8-3/4 month low on concern over the European economy after German factory orders unexpectedly fell -3.2% m/m, the largest monthly decline in 2-3/4 years, and after Italy Q2 GDP fell -0.2% q/q, which puts it into recession. EUR/USD recovered its losses and closed higher ahead of Thursday's ECB meeting. Closes: Dollar index +0.116 (+0.14%), EUR/USD +0.00067 (+0.05%), USD/JPY -0.494 (-0.48%).
Sep WTI crude oil (CLU14 -0.02%) this morning is down -32 cents (-0.33%) at a fresh 6-month low and Sep gasoline (RBU14 +0.07%) is down -0.0031 (-0.11%). Sep crude and gasoline prices on Wednesday settled mixed: CLU4 -0.46 (-0.47%), RBU4 +0.0270 (+0.99%). Crude oil fell back after the dollar index strengthened to a 10-3/4 month high and after crude supplies at Cushing, OK, the delivery point for WTI futures, rose +83,000 bbl, their first increase in a month. Gasoline closed higher after weekly EIA gasoline stockpiles unexpectedly plunged -4.387 million bbl, more than expectations for no change.

GLOBAL EVENT CALENDAR08/07/2014

US	0830 ET	Weekly initial unemployment claims expected +3,000 to 305,000, previous +23,000 to 302,000. Weekly continuing claims expected -27,000 to 2.512 million, previous +31,000 to 2.539 million.
	0830 ET	USDA weekly Export Sales.
	1500 ET	Jun consumer credit expected +$18.700 billion, May +$19.602 billion.
GER	0200 ET	German Jun industrial production expected +1.2% m/m and +0.3% y/y, May -1.8% m/m and +1.3% 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.
EUR	0745 ET	ECB announces interest rate decision.
	0830 ET	ECB President Mario Draghi speaks at monthly press conference following ECB meeting.
CHI	n/a	China Jul trade balance expected +$26.00 billion, Jun +$31.56 billion. Jul exports expected +7.3% y/y, Jun +7.2% y/y. Jul imports expected +3.0% y/y, Jun +5.5% y/y.

U.S. STOCK CALENDAR08/07/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
Brinker International Inc	EAT US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.866
Mylan Inc/PA	MYL US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.716
AES Corp/VA	AES US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.277
Wendy's Co/The	WEN US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.095
Royal Gold Inc	RGLD US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	0.301
Teekay Corp	TK US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	-0.251
Lamar Advertising Co	LAMR US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.374
AMC Networks Inc	AMCX US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.868
Intercontinental Exchange Inc	ICE US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	2.021
NRG Energy Inc	NRG US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.183
NorthStar Realty Finance Corp	NRF US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.373
Teradata Corp	TDC US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.645
Broadridge Financial Solutions Inc	BR US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	1.161
Scripps Networks Interactive Inc	SNI US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.134
Laredo Petroleum Inc	LPI US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.179
Mallinckrodt PLC	MNK US	Bef-mkt	Q3 2014 Earnings Release	Q3 2014	0.874
CBS Outdoor Americas Inc	CBSO US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.229
Duke Energy Corp	DUK US	7:00	Q2 2014 Earnings Release	Q2 2014	0.979
L Brands Inc	LB US	7:30	July 2014 Sales and Revenue Call - Pre-Recorded	2014
Harman International Industries Inc	HAR US	8:00	Q4 2014 Earnings Release	Q4 2014	1.214
Hill-Rom Holdings Inc	HRC US	8:00	Q3 2014 Earnings Call	Q3 2014
MBIA Inc	MBI US	8:00	Q2 2014 Earnings Call	Q2 2014
SunEdison Inc	SUNE US	8:00	Q2 2014 Earnings Call	Q2 2014
Dun & Bradstreet Corp/The	DNB US	8:00	Q2 2014 Earnings Call	Q2 2014
Babcock & Wilcox Co/The	BWC US	8:30	Q2 2014 Earnings Call	Q2 2014
Windstream Holdings Inc	WIN US	8:30	Q2 2014 Earnings Call	Q2 2014
Intercontinental Exchange Inc	ICE US	8:30	Q2 2014 Earnings Call	Q2 2014
Teradata Corp	TDC US	8:30	Q2 2014 Earnings Call	Q2 2014
Broadridge Financial Solutions Inc	BR US	8:30	Q4 2014 Earnings Call	Q4 2014
Mallinckrodt PLC	MNK US	8:30	Q3 2014 Earnings Call	Q3 2014
Stratasys Ltd	SSYS US	8:30	Q2 2014 Earnings Call	Q2 2014
CBS Outdoor Americas Inc	CBSO US	8:30	Q2 2014 Earnings Call	Q2 2014
OGE Energy Corp	OGE US	9:00	Q2 2014 Earnings Call	Q2 2014
Integrys Energy Group Inc	TEG US	9:00	Q2 2014 Earnings Call	Q2 2014
AES Corp/VA	AES US	9:00	Q2 2014 Earnings Call	Q2 2014
Wendy's Co/The	WEN US	9:00	Q2 2014 Earnings Call	Q2 2014
Gulfport Energy Corp	GPOR US	9:00	Q2 2014 Earnings Call	Q2 2014
Sempra Energy	SRE US	9:00	Q2 2014 Earnings Release	Q2 2014	1.13
QEP Resources Inc	QEP US	9:00	Q2 2014 Earnings Call	Q2 2014
Charles River Laboratories International Inc	CRL US	9:00	Q2 2014 Earnings Call	Q2 2014
NRG Energy Inc	NRG US	9:00	Q2 2014 Earnings Call	Q2 2014
NorthStar Realty Finance Corp	NRF US	9:00	Q2 2014 Earnings Call	Q2 2014
Brookdale Senior Living Inc	BKD US	9:00	Q2 2014 Earnings Call	Q2 2014
SandRidge Energy Inc	SD US	9:00	Q2 2014 Earnings Call	Q2 2014
American Water Works Co Inc	AWK US	9:00	Q2 2014 Earnings Call	Q2 2014
Two Harbors Investment Corp	TWO US	9:00	Q2 2014 Earnings Call	Q2 2014
Huntington Ingalls Industries Inc	HII US	9:00	Q2 2014 Earnings Call	Q2 2014
EP Energy Corp	EPE US	9:00	Q2 2014 Earnings Call	Q2 2014
Sabre Corp	SABR US	9:00	Q2 2014 Earnings Call	Q2 2014
Concho Resources Inc	CXO US	9:30	Q2 2014 Earnings Call	Q2 2014
Atmos Energy Corp	ATO US	10:00	Q3 2014 Earnings Call	Q3 2014
Brinker International Inc	EAT US	10:00	Q4 2014 Earnings Call	Q4 2014
Duke Energy Corp	DUK US	10:00	Q2 2014 Earnings Call	Q2 2014
Mylan Inc/PA	MYL US	10:00	Q2 2014 Earnings Call	Q2 2014
Westar Energy Inc	WR US	10:00	Q2 2014 Earnings Call	Q2 2014
Alliant Energy Corp	LNT US	10:00	Q2 2014 Earnings Call	Q2 2014
Lamar Advertising Co	LAMR US	10:00	Q2 2014 Earnings Call	Q2 2014
Annaly Capital Management Inc	NLY US	10:00	Q2 2014 Earnings Call	Q2 2014
WhiteWave Foods Co/The	WWAV US	10:00	Q2 2014 Earnings Call	Q2 2014
Scripps Networks Interactive Inc	SNI US	10:00	Q2 2014 Earnings Call	Q2 2014
Laredo Petroleum Inc	LPI US	10:00	Q2 2014 Earnings Call	Q2 2014
Markel Corp	MKL US	10:30	Q2 2014 Earnings Call	Q2 2014
Harman International Industries Inc	HAR US	11:00	Q4 2014 Earnings Call	Q4 2014
Forest City Enterprises Inc	FCE/A US	11:00	Q2 2014 Earnings Call	Q2 2014
Middleby Corp/The	MIDD US	11:00	Q2 2014 Earnings Call	Q2 2014
Teekay Corp	TK US	11:00	Q2 2014 Earnings Call	Q2 2014
AMERCO	UHAL US	11:00	Q1 2015 Earnings Call	Q1 2015
Prudential Financial Inc	PRU US	11:00	Q2 2014 Earnings Call	Q2 2014
Corrections Corp of America	CXW US	11:00	Q2 2014 Earnings Call	Q2 2014
AMC Networks Inc	AMCX US	11:00	Q2 2014 Earnings Call	Q2 2014
Murphy USA Inc	MUSA US	11:00	Q2 2014 Earnings Call	Q2 2014
CF Industries Holdings Inc	CF US	11:00	Q2 2014 Earnings Call	Q2 2014
Copa Holdings SA	CPA US	11:00	Q2 2014 Earnings Call	Q2 2014
EchoStar Corp	SATS US	11:00	Q2 2014 Earnings Call	Q2 2014
Antero Resources Corp	AR US	11:00	Q2 2014 Earnings Call	Q2 2014
Royal Gold Inc	RGLD US	12:00	Q4 2014 Earnings Call	Q4 2014
Essex Property Trust Inc	ESS US	13:00	Q2 2014 Earnings Call	Q2 2014
Sempra Energy	SRE US	13:00	Q2 2014 Earnings Call	Q2 2014
Regency Centers Corp	REG US	14:00	Q2 2014 Earnings Call	Q2 2014
American Express Co	AXP US	15:00	Fixed Income Investor Conference Call
IDEXX Laboratories Inc	IDXX US	16:00	Analyst Day - Day 1	Y 2014
Assured Guaranty Ltd	AGO US	16:00	Q2 2014 Earnings Release	Q2 2014	0.413
Computer Sciences Corp	CSC US	16:15	Q1 2015 Earnings Release	Q1 2015	0.938
NVIDIA Corp	NVDA US	16:20	Q2 2015 Earnings Release	Q2 2015	0.256
CBS Corp	CBS US	16:30	Q2 2014 Earnings Call	Q2 2014
Salix Pharmaceuticals Ltd	SLXP US	16:30	Q2 2014 Earnings Call	Q2 2014
Medivation Inc	MDVN US	16:30	Q2 2014 Earnings Call	Q2 2014
Allscripts Healthcare Solutions Inc	MDRX US	16:30	Q2 2014 Earnings Call	Q2 2014
Alnylam Pharmaceuticals Inc	ALNY US	16:30	Q2 2014 Earnings Call	Q2 2014
Air Lease Corp	AL US	16:30	Q2 2014 Earnings Call	Q2 2014
Computer Sciences Corp	CSC US	17:00	Q1 2015 Earnings Call	Q1 2015
DeVry Education Group Inc	DV US	17:00	Q4 2014 Earnings Call	Q4 2014
Monster Beverage Corp	MNST US	17:00	Q2 2014 Earnings Call	Q2 2014
NVIDIA Corp	NVDA US	17:00	Q2 2015 Earnings Call	Q2 2015
Zynga Inc	ZNGA US	17:00	Q2 2014 Earnings Call	Q2 2014
CareFusion Corp	CFN US	17:00	Q4 2014 Earnings Call	Q4 2014
Sprouts Farmers Market Inc	SFM US	17:00	Q2 2014 Earnings Call	Q2 2014
SolarCity Corp	SCTY US	17:00	Q2 2014 Earnings Call	Q2 2014
Consolidated Edison Inc	ED US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.538
Federal Realty Investment Trust	FRT US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.211
Great Plains Energy Inc	GXP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.408
Monster Beverage Corp	MNST US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.748
CBS Corp	CBS US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.715
Lions Gate Entertainment Corp	LGF US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.212
Salix Pharmaceuticals Ltd	SLXP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.689
Medivation Inc	MDVN US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.233
Allscripts Healthcare Solutions Inc	MDRX US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.089
Alnylam Pharmaceuticals Inc	ALNY US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	-0.516
Columbia Property Trust Inc	CXP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.498
Zynga Inc	ZNGA US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.002
CareFusion Corp	CFN US	Aft-mkt	Q4 2014 Earnings Release	Q4 2014	0.723
Sprouts Farmers Market Inc	SFM US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.178
SolarCity Corp	SCTY US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	-0.994
News Corp	NWSA US	Aft-mkt	Q4 2014 Earnings Release	Q4 2014	0.029
Frank's International NV	FI US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.309
News Corp	NWSA US	17:30	Q4 2014 Earnings Call	Q4 2014
Foster Wheeler AG	FWLT US		Q2 2014 Earnings Release	Q2 2014	0.47
Gap Inc/The	GPS US		July 2014 Sales and Revenue Release	2014
Hill-Rom Holdings Inc	HRC US		Q3 2014 Earnings Release	Q3 2014	0.594
L Brands Inc	LB US		July 2014 Sales and Revenue Release	2014
National Fuel Gas Co	NFG US		Q3 2014 Earnings Release	Q3 2014	0.728
OGE Energy Corp	OGE US		Q2 2014 Earnings Release	Q2 2014	0.515
Costco Wholesale Corp	COST US		July 2014 Sales and Revenue Release	2014
DeVry Education Group Inc	DV US		Q4 2014 Earnings Release	Q4 2014	0.674
Eagle Materials Inc	EXP US		Annual General Meeting
SunEdison Inc	SUNE US		Q2 2014 Earnings Release	Q2 2014	-0.259
Ralph Lauren Corp	RL US		Annual General Meeting
WhiteWave Foods Co/The	WWAV US		Q2 2014 Earnings Release	Q2 2014	0.218
Red Hat Inc	RHT US		Annual General Meeting
Windstream Holdings Inc	WIN US		Q2 2014 Earnings Release	Q2 2014	0.08
EchoStar Corp	SATS US		Q2 2014 Earnings Release	Q2 2014	0.165
Air Lease Corp	AL US		Q2 2014 Earnings Release	Q2 2014	0.51
Huntington Ingalls Industries Inc	HII US		Q2 2014 Earnings Release	Q2 2014	1.814
Stratasys Ltd	SSYS US		Q2 2014 Earnings Release	Q2 2014	0.447
Sabre Corp	SABR US		Q2 2014 Earnings Release	Q2 2014	0.18