Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: DWA

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Wednesday, February 24, 2016

MORNING CALL 2/24

Wednesday, February 24th, 2016View Older Reports

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

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 -0.90%) are down -0.81% and European stocks are down -2.34% at a 1-week low as they track crude oil prices, which are down -3.58%. Crude oil prices extended their declines late yesterday after API data showed U.S. crude supplies expanded by +7.1 million bbl last week. A sell-off in copper prices has also hurt miners and commodity producers with Glencore Plc and BHP Billiton down at least 7%, while Freeport-McMoRan and Alcoa are both down over 2%. The Chinese yuan fell to a 1-1/2 week low against the dollar ahead of the G-20 meeting in Shanghai on Feb 26-27 where people with knowledge of the agenda said officials from the world's biggest economies will discuss the recent turmoil in China's markets and ways to bolster a safety net for the global financial system. Asian stocks settled mostly lower: Japan -0.85%, Hong Kong -1.15%, China +0.88%, Taiwan -0.62%, Australia-2.10%, Singapore -1.95%, South Korea -0.05%, India -1.37%.

The dollar index (DXY00 +0.42%) is up +0.42% at a 3-week high. EUR/USD (^EURUSD) is down -0.51% at a 3-wek low. USD/JPY (^USDJPY) is down-0.25%. GBP/USD is down -0.92% at a 6-3/4 year low on concern that Britons will vote to leave the EU in a June referendum.

Mar T-note prices (ZNH16 +0.30%) are up +13 ticks at a 1-week high as the slide in stock prices boosts the safe-haven demand of government debt. T-notes also found support on carryover from a plunge in the 10-year German bund yield to a 10-month low of 0.131%.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +8.2% with purchase sub-index -3.7% and refi sub-index +16.0%), (2) Richmond Fed President Jeffrey Lacker's speech on the topic of “Can Monetary Policy Affect Economic Growth” at the John Hopkins Carey Business School, (3) prelim-Feb Markit services PMI (expected +0.3 to 53.5, Jan -1.1 to 53.2), (4) Jan new home sales (expected -4.4% to 520,000, Dec +10.8% to 544,000), (5) the Treasury's sale of $13 billion of 2-year floating-rate notes and $34 billion of 5-year T-notes, (6) Dallas Fed President Rob Kaplan's speech to the Harvard Clubs of Dallas and Fort Worth about current economic conditions and monetary policy, and (7) St. Louis Fed President James Bullard's speech to Money Marketeers in New York.

There are 11 of the S&P 500 companies that report earnings today with notable reports including: HP (consensus $0.36), salesforce.com (0.19), Target (1.54), TJX (0.94), L Brands (2.05), Lowe's (0.59), Chesapeake Energy (-0.16), Transocean (0.65).

U.S. IPO's scheduled to price today: Cancer Prevention Pharmaceuticals (CPP).

Equity conferences during the remainder of this week include: Jefferies Media & Communications Conference on Tue-Wed, RBC Capital Markets Health Care Conference on Tue-Wed, IHS Energy CERAWeek Conference on Tue-Thu, Wells Fargo Bank Investors Forum on Wed, Cantor Fitzgerald Internet & Technology Conference on Thu, Gabelli & Company Pump, Valve and Water Systems Symposium on Thu.

OVERNIGHT U.S. STOCK MOVERS

Avis-Budget Group (CAR +1.01%) tumbled over 12% in after-hours trading after it lowered guidance on fiscal 2016 adjusted EPS to $2.70-$3.30, below consensus of $3.43.

Ford Motor (F -1.11%) was downgraded to 'Underperform' from 'Neutral' at Credit Suisse.

DreamWorks Animation(DWA -2.09%) jumped over 7% in after-hours trading after it reported Q4 adjusted EPS of 55 cents, over three times expectations of 15 cents.

WebMD Health Corp. (WBMD -0.19%) rose almost 3% in after-hours trading after it said it sees 2016 revenue of $685 million-$8705 million, above consensus of $689.3 million.

Dycom Industries (DY -0.65%) slumped 15% in after-hours trading after it reported Q2 adjusted EPS of 54 cents, weaker than consensus of 56 cents, and hen said it sees Q3 EPS of 70 cent-80 cents, below consensus of 84 cents.

Deere & Co. (DE -1.61%) was upgraded to 'Buy' from 'Hold' at Argus Research.

Copart (CPRT -0.66%) reported Q2 EPS of 48 cents, higher than consensus of 43 cents.

Ormat Technologies (ORA -0.38%) raised guidance on fiscal 2016 revenue to $620 million-$640 million, higher than consensus of $608.7 million.

MSA Safety (MSA +0.26%) reported Q4 adjusted EPS of 84 cents, better than consensus of 68 cents,

Trexx Co. (TREX +9.75%) gained almost 2% in after-hours trading after it reported it will replace Snyder's-Lance in the SmallCap 600 after the close of trading Wednesday, February 24.

AMAG Pharmaceuticals (AMAG +1.11%) rose over 3% in after-hours trading after it reported it will replace Diamond Foods (DMND +0.97%) in the SmallCap 600 after the close of trading Monday. February 29.

Snyder's-Lance (LNCE +1.47%) climbed almost 2% in after-hours trading after it reported it will replace California Resources in the MidCap 400 at the close of trading Wednesday, February 24.

Morgan Stanley (MS -3.38%) said its energy loan exposure at the end of Q4 was $15.9 billion, down from $17.2 billion at the end of Q3.

Advisory Board Co. (ABCO -1.31%) was downgraded to 'Market Perform' from 'Market Outperform' at Avondale Partners LLC with a 12-month price target of $31.

MARKET COMMENTS

Mar E-mini S&Ps (ESH16 -0.90%) this morning are down -15.50 points (-0.81%). Tuesday's closes: S&P 500 -1.25%, Dow Jones -1.14%, Nasdaq -1.62%. The S&P 500 on Tuesday closed lower on fall in the yuan fell to a 1-week low against the dollar, the -5.6 point decline in U.S. Feb consumer confidence to 92.2 (weaker than expectations of -0.9 to 97.2 and the lowest in 7 months), and the slide in energy producer stocks after crude oil fell by more than 6%.

Mar 10-year T-notes (ZNH16 +0.30%) this morning are up +13 ticks a a 1-week high. Tuesday's closes: TYH6 +5.00, FVH6 +3.50. Mar T-notes on Tuesday closed higher on increased safe-haven demand with the sell-off in stocks and on Dallas Fed President Kaplan's comment that the Fed should be open to leaving policy on hold for an extended time if needed.

The dollar index (DXY00 +0.42%) this morning is up +0.412 (+0.42%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0056 (-0.51%) at a 3-week low. USD/JPY (^USDJPY) is down -0.28 (-0.25%). Tuesday's closes: Dollar Index +0.102 (+0.10%), EUR/USD -0.0010 (-0.09%), USD/JPY -0.82 (-0.73%). The dollar index on Tuesday closed higher on continued weakness in GBP/USD which fell to a fresh 6-3/4 year low after BOE Governor Carney acknowledged that there was a chance of Brexit. The dollar was also boosted by weakness in EUR/USD, which fell to a 2-1/2 week low on news that the German Feb IFO business climate index fell -1.6 to 14-month low of 105.7.

Apr WTI crude (CLJ16 -3.42%) this morning is down -$1.14 a barrel (-3.58%) and Apr gasoline (RBJ16 -0.80%) is down -0.0099 (-0.81%). Tuesday's closes: CLJ6 -2.02 (-6.05%), RBJ6 -0.0390 (-3.12%). Apr crude oil and gasoline on Tuesday closed sharply lower on dashed hopes for a production cut after Saudi Arabian oil minister Ali al-Naimi said that Saudi Arabia "isn't cutting output." In addition, Iranian Oil Minister Bijan Namdar Zanganeh said that Russia's and Saudi Arabia's plan to freeze production at current levels was "ridiculous" as it puts "unrealistic demands" on Iran.

GLOBAL EVENT CALENDAR02/24/2016

US	0700 ET	Weekly MBA mortgage applications, previous +8.2% with purchase sub-index -3.7% and refi sub-index +16.0%.
	0800 ET	Richmond Fed President Jeffrey Lacker speaks on the topic Can Monetary Policy Affect Economic Growth at the John Hopkins Carey Business School.
	0945 ET	Prelim-Feb Markit services PMI expected +0.3 to 53.5, Jan -1.1 to 53.2. Feb Markit composite PMI, Jan -0.8 to 53.2.
	1000 ET	Jan new home sales expected -4.4% to 520,000, Dec +10.8% to 544,000.
	1030 ET	EIA Weekly Petroleum Status Report.
	1130 ET	Treasury auctions $13 billion of 2-year floating-rate notes.
	1300 ET	Treasury auctions $34 billion of 5-year T-notes.
	1315 ET	Dallas Fed President Rob Kaplan speaks to the Harvard Clubs of Dallas and Fort Worth about current economic conditions and monetary policy.
	1900 ET	St. Louis Fed President James Bullard speaks to Money Marketeers in New York.
JPN	0000 ET	Revised Japan Dec leading index CI, previous 102.0. Revised Dec coincident index, previous 111.2.
UK	0600 ET	UK Feb CBI reported sales expected -4 to 12, Jan 16.

U.S. STOCK CALENDAR02/24/2016

Company	Ticker	Time	Event Description	Period	Estimate
Target Corp	TGT US	Bef-mkt	Q4 2016 Earnings Release	Q4 2016	1.539
Lowe's Cos Inc	LOW US	Bef-mkt	Q4 2016 Earnings Release	Q4 2016	0.592
AES Corp/VA	AES US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	0.326
Chesapeake Energy Corp	CHK US	Bef-mkt	Q4 2015 Earnings Release	Q4 2015	-0.162
Verisk Analytics Inc	VRSK US	8:30	Q4 2015 Earnings Call	Q4 2015
Lowe's Cos Inc	LOW US	9:00	Q4 2016 Earnings Call	C4 2016
Lowe's Cos Inc	LOW US	9:00	Q4 2016 Earnings Call	Q4 2016
AES Corp/VA	AES US	9:00	Q4 2015 Earnings Call	Q4 2015
Chesapeake Energy Corp	CHK US	9:00	Q4 2015 Earnings Call	Q4 2015
TJX Cos Inc/The	TJX US	9:30	Q4 2016 Earnings Release	Q4 2016	0.94
Air Products & Chemicals Inc	APD US	10:00	Air Products of Versum Materials Spin-off Call
Deere & Co	DE US	10:00	Annual General Meeting	Y 2016
Keurig Green Mountain Inc	GMCR US	10:00	Special Meeting - M&A Vote
Target Corp	TGT US	10:30	Q4 2016 Earnings Call	Q4 2016
TJX Cos Inc/The	TJX US	11:00	Q4 2016 Earnings Call	Q4 2016
State Street Corp	STT US	12:30	Investor Day	Y 2016
Extra Space Storage Inc	EXR US	13:00	Q4 2015 Earnings Call	Q4 2015
salesforce.com inc	CRM US	16:05	Q4 2016 Earnings Release	Q4 2016	0.191
HP Inc	HPQ US	17:00	Q1 2016 Earnings Call	Q1 2016
NVIDIA Corp	NVDA US	17:00	ITC Decision Due in 2nd Samsung vs. Nvidia Patent Case
salesforce.com inc	CRM US	17:00	Q4 2016 Earnings Call	Q4 2016
HP Inc	HPQ US	Aft-mkt	Q1 2016 Earnings Release	Q1 2016	0.36
L Brands Inc	LB US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	2.051
Transocean Ltd	RIG US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.652
Newfield Exploration Co	NFX US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.019
Concho Resources Inc	CXO US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.031

Monday, August 24, 2015

BARCHART MORNING CALL 8/24

BARCHART MORNING CALL

Monday, August 24th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 -2.88%) are down -2.28% at a 10-month low and European stocks are down -2.86% at a 7-1/4 month low as global stock markets extend last week's plunge. In a broad sell-off that encompasses all industries, technology stocks are weaker with Apple and Netflix down over 4% in pre-market trading, and energy producers and oil service companies are lower with ConocoPhillips and Schlumberger down more than 3% as crude oil (CLV15 -3.14%) is down -3.61% at a 6-1/2 year low. Asian stocks closed sharply lower: Japan -4.61%, Hong Kong -5.17%, China -8.49%, Taiwan -4.84%, Australia -4.09%, Singapore -4.30%, South Korea -2.47%, India -5.94%. China's Shanghai Composite sank to a 6-1/4 month low even after China said it will allow pension funds to buy stocks for the first time as a lack of confidence undermines government attempts to prop up the equity market. More than 800 stocks fell by the daily 10% limit on the Shanghai Composite. Japan's Nikkei Stock Index slid to a 6-month low and emerging market stocks declined as well, led lower by losses in basic-resource producers as the price of copper (HGU15 -3.23%) dropped -2.37% to a new 6-year low.
The dollar index (DXY00 -0.95%) is down -0.97% at a 2-month low as the plunge in global stocks bolsters the probability the Fed will delay an interest rate increase. EUR/USD (^EURUSD) is up +0.93% at a 6-1/2 month high. USD/JPY (^USDJPY) is down -1.61% at a 3-month low as safe haven demand benefits the yen. Emerging market currencies sold off against the dollar with the Russian ruble at a 6-1/2 month low and the Malaysian ringgit at a 17-year low

Sep T-note prices (ZNU15 +0.47%) are up +11.5 ticks at a 3-3/4 month high as the 10-year T-note yield fell below 2.00% as the rout in stocks bolsters the safe-haven of government debt.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jul Chicago Fed national activity index (expected +0.12 to 0.20, Jun +0.15 to 0.08), and (2) a speech by Atlanta Fed President Dennis Lockhart to the 2015 Public Pension Funding Forum.
There is 1 of the Russell 1000 companies that report earnings today: Premier (consensus $0.36).
U.S. IPO's scheduled to price today include: none.
Equity conferences this week include: 9th Annual South East Asia Australia Offshore & Onshore Conference on Tue-Wed, 9th Annual Mining the Territory Conference on Wed, Pareto Healthcare Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Marathon Oil (MRO -2.48%) , Noble Energy (NBL -0.82%) , and Whiting Petroleum (WLL -7.04%) were all downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Bristol-Myers (BMY -2.62%) was upgraded to 'Neutral' from 'Underweight' at Piper Jaffray.
Valero (VLO -9.09%) was downgraded to 'Underperform' from 'Neutral' at BofA/Merrill Lynch.
Chevron (CVX -4.39%) was upgraded to 'Neutral' from 'Underperform' at BofA/Merrill Lynch.
Randgold (GOLD -1.37%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital.
Grainger (GWW -1.87%) was downgraded to 'Neutral' from 'Outperform' at Baird.
AutoZone (AZO -5.06%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill Lynch.
Airgas (ARG -3.54%) and Fastenal (FAST -0.51%) were both downgraded to 'Neutral' from 'Outperform' at Baird.
Bank of America (BAC -3.71%) was upgraded to 'Outperform' from 'Market Perform' at Keefe Bruyette.
Abercrombie & Fitch (ANF -3.74%) was upgraded to 'Overweight' from 'Neutral" at Piper Jaffray ahead of earnings.
Nike (NKE -4.84%) was upgraded to 'Outperform' from 'Market Perform' at Telsey Advisory.
DreamWorks (DWA +5.01%) was upgraded to 'Buy' from 'Neutral' at B. Riley.
General Motors (GM -4.02%) is recalling 59,474 Chevrolet Cobalt vehicles manufactured January 4, 2010, to June 23, 2010. The affected vehicles may be equipped with an improperly routed Side-Impact Sensor wiring harness in the driver side front door
Francisco Partners reported a 7.2% stake in Mitel (MITL -3.63%) .
Emperey reported a 9.5% passive stake in BG Medicine (BGMD -3.41%) .

MARKET COMMENTS

Sep E-mini S&Ps (ESU15 -2.88%) this morning are down -45.00 points (-2.28%) at a 10-month low. Friday's closes: S&P 500 -3.19%, Dow Jones -3.12%, Nasdaq -4.28%. The S&P 500 on Friday sold off to a 6-1/2 month low and settled sharply lower as the China Aug Caixin manufacturing PMI unexpectedly fell -0.7 to a 6-1/2 year low of 47.1. In addition, the U.S. Aug Markit manufacturing PMI fell by -0.9 points to a 1-3/4 year low of 52.9.
Sep 10-year T-notes (ZNU15 +0.47%) this morning are up +11.5 ticks at a 3-3/4 month high. Friday's closes: TYU5 +11.00, FVU5 +8.75. Sep T-notes Friday climbed to a 3-3/4 month high and closed higher on increased safe-haven demand with the plunge in global equity markets and on speculation the Fed may delay raising interest rates on global growth concerns after a gauge of Chinese manufacturing activity contracted at its steepest pace in 6-1/3 years. T-notes also received a boost as crude oil sank to a new 6-1/3 year low and pushed the 10-year T-note breakeven inflation rate down to a 7-1/4 month low.
The dollar index (DXY00 -0.95%) this morning is down -0.921 (-0.97%) at a 2-month low. EUR/USD (^EURUSD) is up +0.0106 (+0.93%) at a 6-1/2 month high. USD/JPY (^USDJPY) is down -1.97 (-1.61%) at a 3-month low. Friday's closes: Dollar Index -0.972 (-1.01%), EUR/USD +0.01439 (+1.28%), USD/JPY -1.363(-1.10%). The dollar index Friday fell to a 1-1/2 month low and closed lower on (1) the plunge in world equity markets that prompted an increase in safe-haven demand for the yen and sent USD/JPY down to a 1-1/4 month low, and (2) strength in EUR/USD which rose to a 2-month high after Eurozone Aug Markit manufacturing PMI expanded more than expected.
Oct crude oil (CLV15 -3.14%) this morning isdowm -$1.46 a barrel (-3.61%) at a 6-1/2 year low and Oct gasoline (RBV15 -2.62%) is down -0.0418 (-3.02%) at a contract low. Friday's closes: CLV5 -0.87 (-2.11%), RBV5 -0.0085 (-0.61%). Oct crude and gasoline sold off sharply Friday with Oct crude at a 6-1/3 year low and Oct gasoline at a 6-1/2 month low. Crude oil prices were hurt by the plunge in global stock prices and concern the U.S. oil supply glut will persist with U.S. crude supplies nearly 100 million bbl above their 5-year seasonal average.

GLOBAL EVENT CALENDAR08/24/2015

US	0830 ET	Jul Chicago Fed national activity index expected +0.12 to 0.20, Jun +0.15 to 0.08.
	1100 ET	USDA weekly grain export inspections.
	1555 ET	Atlanta Fed President Dennis Lockhart speaks to the 2015 Public Pension Funding Forum.
	1600 ET	USDA weekly crop progress.
JPN	0100 ET	Revised Japan Jun leading index CI, previous 107.2. Revised Jun coincident index, previous 112.0.

U.S. STOCK CALENDAR08/24/2015

Company	Ticker	Time	Event Description	Period	Estimate
Premier Inc	PINC US	17:00	Q4 2015 Earnings Call	Q4 2015
Premier Inc	PINC US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.361

Friday, June 5, 2015

BARCHART MORNING CALL 6/5

BARCHART MORNING CALL

Friday, June 5th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 -0.21%) this morning are down -0.33% and European stocks are down -1.42% at a 4-week low ahead of U.S. May non-farm payrolls. Stocks took a hit after Greece said it would defer a debt payment due today to the IMF until the end of the month, which bolsters concern that Greece may be close to bankruptcy. Greece's ASE Stock Index tumbled -4.55% and the 10-year Greek bond yield rose 40 bp to a three-session high of 11.32% on Greek default concerns. Asian stocks closed mostly lower: Japan -0.13%, Hong Kong -1.06%, China +1.54%, Taiwan -0.09%, Australia -0.11%, Singapore -0.34%, South Korea -0.21%, India -0.17%. Chinese socks rallied and bucked the negative trend as the China's Shanghai Composite Index climbed to a 7-1/3 year high amid speculation the government will boost stimulus measures to bolster the economy along with cross-borders sales of mutual funds that may widen access to financial markets and increase equity inflows.
Commodity prices are mixed. Jul crude oil (CLN15 +0.40%) is down -0.50% at a 1-week low on speculation that OPEC will leave its production targets unchanged as the cartel meets today in Vienna. Jul gasoline (RBN15 +0.93%) is up +0.37%. Metals prices are mostly lower. Aug gold (GCQ15 -0.10%) is down -0.11%. Jul copper (HGN15 +0.09%) is down -0.13%% at a 6-week low on concern that U.S. copper demand will weaken after the IMF cut its 2015 U.S. GDP estimate to 2.5% from an earlier forecast of 3.1%. Agricultural prices are mixed.
The dollar index (DXY00 +0.21%) is up +0.24%. EUR/USD (^EURUSD) is down -0.11%. USD/JPY (^USDJPY) is up +0.36%.

Sep T-note prices (ZNU15 -0.25%) are down -8.5 ticks.
Greece notified the IMF that a 300 million euro payment due to the IMF today would be deferred and bundled with three more payments due at the end of the month. Greece is the first country since the 1980s to defer a payment to the IMF and underscores the state of Greece's shrinking finances.
ECB Governing Council member and National Bank of Belgium Governor Smets said "there's no chance" that the ECB will end its quantitative easing earlier than planned.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) the May unemployment report (May payrolls expected +227,000 after April's +223,000; May unemployment rate expected unchanged at 5.4% after April's -0.1 point decline to 5.4%), (2) Apr consumer credit (expected +$16.0 billion after March's +$20.523 billion), and (3) a speech by New York Fed President William Dudley on the economy and monetary policy at a gathering of the Economic Club of Minnesota.
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today include: Ardelyx (ARDX).
Equity conferences today include: none.

OVERNIGHT U.S. STOCK MOVERS

DISH (DISH +4.86%) was downgraded to 'Neutral' from 'Outperform' at Macquarie.
Cardinal Health (CAH -0.47%) will acquire Harvard Drug Group for $1.115 billion.
Under Armour (UA -0.43%) was upgraded to 'Buy' from 'Neutral' at DA Davidson.
DreamWorks (DWA +0.55%) was upgraded to 'Buy' from 'Hold' at Stifel with a $34 price target.
Charles Schwab (SCHW -0.09%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
LifePoint (LPNT -1.05%) was initiated with a 'Conviction Buy' at Goldman Sachs with a price target of $92.
Team Health (TMH -0.20%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Lockheed Martin (LMT -0.90%) was awarded a $920.35 million government contract for the manufacture and delivery of 94 F-35 Lightning II aircraft.
Thor Industries (THO -1.43%) reported Q3 EPS of $1.19, less than consensus of $1.21.
UTi Worldwide (UTIW -3.29%) reported a Q1 EPS loss of -35 cents, a much bigger loss than consensus of -15 cents.
Esterline (ESL -1.53%) reported Q2 adjusted EPS of $1.20, below consensus of $1.33.
Cooper Companies (COO -2.54%) reported Q2 adjusted EPS of $1.72, weaker than consensus of $1.76.
Verifone (PAY -1.49%) reported Q2 adjusted EPS of 44 cents, higher than consensus of 42 cents.
Gap (GPS +0.81%) reported that May same-store-sales were down 1% y/y.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.21%) this morning are down -7.00 points (-0.33%). Thursday's closes: S&P 500 -0.86%, Dow Jones -0.94%, Nasdaq -0.73%. The S&P 500 on Thursday sold off to a 3-week low on a rout in global bond markets that temporarily sent the 10-year German bund yield up to an 8-1/4 month high and the 10-year T-note yield up to a 5-1/4 month high. There was also weakness in commodity producer stocks after metals and crude oil fell. A positive factor was the -8,000 decline in initial unemployment claims.
Sep 10-year T-notes (ZNU15 -0.25%) this morning are down -8.5 ticks. Thursday's closes: TYU5 +14.50, FVU5 +7.50. Sep T-notes on Thursday recovered from a 5-month low and closed higher. Supportive factors included a recovery in German bund prices from an 8-1/4 month low and increased safe-haven demand for Treasuries after stocks plunged.
The dollar index (DXY00 +0.21%) this morning is up +0.228 (+0.24%). EUR/USD (^EURUSD) is down -0.0012 (-0.11%). USD/JPY (^USDJPY) is up +0.45 (+0.36%). Thursday's closes: Dollar Index -0.004 (-0.01%), EUR/USD -0.00368 (-0.33%), USD/JPY +0.122 (+0.10%). The dollar index on Thursday fell to a 2-week low and closed lower on strength in EUR/USD on improved EUR interest rate differentials with the German 10-year bund yield rising to an 8-1/4 month high.
July WTI crude oil (CLN15 +0.40%) this morning is down -29 cents (-0.50%) at a 1-week low. July gasoline (RBN15 +0.93%) is up +0.0074 (+0.37%). Thursday's closes: CLN5 -1.64 (-2.75%), RBN5 -0.0568 (-2.78%). Jul crude and gasoline on Thursday closed lower on expectations for OPEC on Friday to maintain its production target and news that Iraq will increase its oil exports by +100,000 bpd this month.

GLOBAL EVENT CALENDAR06/05/2015

US	0830 ET	May non-farm payrolls expected +226,000, Apr +223,000. May private payrolls expected +220,000, Apr +213,000. May manufacturing payrolls expected +5,000, Apr +1,000. May unemployment rate expected unch at 5.4%, Apr -0.1 to 5.4%.
	0830 ET	May average hourly earnings expected +0.2% m/m and +2.2% y/y, Apr +0.1% m/m and +2.2% y/y. May average weekly hours all-employees expected unch at 34.5 hours.
	1230 ET	New York Fed President William Dudley speaks on the economy and monetary policy at a gathering of the Economic Club of Minnesota.
	1500 ET	Apr consumer credit expected +$16.000 billion, Mar +$20.523 billion.
JPN	0100 ET	Japan Apr leading index CI expected +1.2 to 107.2, Mar 106.0. Apr coincident index expected +1.5 to 110.7, Mar 109.2.
GER	0200 ET	German Apr factory orders expected +0.5% m/m and -0.6% y/y, Mar +0.9% m/m and +1.9% y/y.
UK	0430 ET	BOE May quarterly inflation attitudes survey.
EUR	0500 ET	Revised Eurozone Q1 GDP, previous +0.4% q/q and +1.0% y/y.

U.S. STOCK CALENDAR06/05/2015

Company	Ticker	Time	Event Description	Period
Actavis plc	ACT US	3:30	Annual General Meeting	Y 2015
Wal-Mart Stores Inc	WMT US	8:30	Annual General Meeting	Y 2015
Goodyear Tire & Rubber Co/The	GT US	9:00	Goodyear Tire & Rubber Co. and Sumitomo Rubber Industries, Ltd Joint Venture Ag
Cardinal Health Inc	CAH US	10:00	Investors and Analysts Meeting - Dublin	Y 2015
Flowers Foods Inc	FLO US	11:00	Annual General Meeting	Y 2015
ResMed Inc	RMD US	12:00	Investor Day	Y 2015
Wal-Mart Stores Inc	WMT US	13:30	Investment Community Meeting and Q&A Session	Y 2015
Questar Corp	STR US		Roadshow - Europe - Day 5	Y 2015
Garmin Ltd	GRMN US		Annual General Meeting	Y 2015

Friday, March 27, 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""

Tuesday, August 27, 2013

5 Mid Cap Still Going Up

Today I used Barchart to sort the S&P 400 Mid Cap Index to find stocks I still like even in this choppy market. First I sorted the Index for the stocks hitting the most new highs in the last month then panned down the rows to find the stocks that had net gains not only during the last month but also during the last 5 trading sessions.

The list includes Dreamworks Animation (DWA), Royal Gold (RGLD), Trinity Industries (TRN), Under Armour (UA) and Omnicare (OCR):

Dreamworks Animation (DWA)