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

Showing posts with label JNS. Show all posts

Thursday, May 12, 2016

MORNING CALL 5/12

Thursday, May 12th, 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

Jun E-mini S&Ps (ESM16 +0.57%) are up +0.60% and European stocks are up +0.95% as a +0.89% rally in Jun WTI crude oil (CLM16 +0.82%) to a 1-1/2 week high lifts energy producing stocks. Crude oil is higher after the IEA cut its global crude oil surplus estimate for the first half of 2016 to 1.3 million bpd from 1.5 million bpd forecast last month, citing robust demand in India and other emerging markets. European stocks rose despite an unexpected decline in Eurozone Mar industrial production. Asian stocks settled mixed: Japan +0.41%, Hong Kong -0.70%, China -0.04%, Taiwan-0.34%, Australia -0.24%, Singapore +0.46%, South Korea -0.30%, India +0.75%. Gains in Japanese stocks were held back by a -1.4% drop in Toyota after the automaker forecast its yearly profit will probably decline for the first time in 5 years.

The dollar index (DXY00 +0.26%) is up +0.26%. EUR/USD (^EURUSD) is down -0.27%% after Eurozone Mar industrial production unexpectedly fell. USD/JPY (^USDJPY) is up +0.73%.

Jun T-note prices (ZNM16 -0.17%) are down -7.5 ticks.

As expected, the BOE kept its benchmark rate unchanged at 0.50% and maintained its asset purchase target at 375 billion pounds following today's policy meeting. The BOE also cut its UK 2016 GDP forecast to 2.0% from a 2.2% estimate in Feb, citing uncertainty regarding next month's referendum on whether the UK will remain in the European Union.

Eurozone Mar industrial production unexpectedly fell -0.8% m/m, weaker than expectations of no change.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected -4,000 to 270,000, previous +17,000 to 274,000) and continuing claims (expected -1,000 to 2.120 million, previous -8,000 to 2.121 million), (2) Apr import price index (expected +0.6% m/m and -5.4% y/y, Mar +0.2% m/m and-6.2% y/y), (3) Cleveland Fed President Loretta Mester speaks on monetary policy and inflation dynamics at an event in Reichenau Island, Germany, (4) Boston Fed President Eric Rosengren delivers luncheon speech to the Great Concord Chamber in Concord, NH, (5) the Treasury auction of $15 billion of 30-year T-bonds, (6) Kansas City Fed President Esther George speaks about the U.S. economy to business and community leaders in Albuquerque, NM, and (7) USDA weekly Export Sales.

There are 6 of the Russell 1000 companies that report earnings today: Kohl's (consensus $0.37), Perrigo (1.72), Ralph Lauren (0.83), NVIDIA (0.41), Nordstrom (0.46), Symantec (0.22).

U.S. IPO's scheduled to price today: Oncobiologics (ONS), Cancer Prevention Pharmaceuticals (CPP), Acacia Communications (ACIA).

Equity conferences during the remainder of this week include: Bank of America Merrill Lynch Health Care Conference on Tue-Thu, Jefferies Technology, Media and Telecom Conference on Wed-Thu, Mitsubishi UFJ Oil & Gas Conference on Thu, Morgan Stanley Refining Corporate Access Day on Thu, RBC Capital Markets Aerospace & Defense Investor Day on Thu.

OVERNIGHT U.S. STOCK MOVERS

Jack in the Box (JACK -5.24%) jumped 11% in pre-market trading after it reported Q2 adjusted operating EPS of 85 cents, higher than consensus of 70 cents.

Berry Plastics Group (BERY +2.32%) was rated a new 'Buy' at Goldman Sachs.

Weight Watchers International (WTW -0.88%) climbed over 1% in after-hours trading after Oprah Winfrey was elected to a 2-year term on the company's board.

Janus Capital Group (JNS -2.05%) was downgraded to 'Market Perform' from 'Outpeform' at Wells Fargo Securities.

St. Jude Medical (STJ +0.23%) was downgraded to 'Neutral' from 'Buy' at UBS.

Kohl's (KSS -6.02%) slid over 4% in pre-market trading after it reported Q1 EPS of 31 cents, below consensus of 37 cents.

Owens-Illinois (OI +0.57%) was rated a new 'Sell' by Goldman Sachs.

SINA Corp/China (SINA +0.67%) dropped over 4% in after-hours trading after it reported a Q1 adjusted EPS loss of -4 cents, a wider loss than consensus of -3 cents.

Weibo (WB -0.43%) rose nearly 3% in after-hours trading after it reported Q1 adjusted EPS of 7 cents, better than consensus of 4 cents.

Spin Master (SNMSF +2.40%) reported Q1 adjusted EPS of 12 cents, double consensus of 6 cents.

CA Inc. (CA -0.63%) gained 3% in after-hours trading after it reported Q4 adjusted continuing operations EPS of 60 cents, higher than consensus of 57 cents, and said it sees fiscal 2017 adjusted EPS continuing operation of $2.51-$2.56, above consensus of $2.49.

Loxo Oncology (LOXO -5.36%) dropped over 4% in after-hours trading after it announced a public equity offering. Price, volume and terms have yet to be announced.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.57%) this morning are up +12.25 points (+0.60%). Wednesday's closes: S&P 500 -0.96%, Dow Jones -1.21%, Nasdaq-0.93%. The S&P 500 on Wednesday closed lower on carryover weakness from a slide in European stocks on concern about the health of the European banking sector after ABN Amro Group NV reported a -13% decline in Q1 profits. U.S. stocks were also undercut by weakness in U.S. retail stocks led by a -15% plunge in Macy's, the largest U.S department store company, after it reported weaker-than-expected Q1 revenue and cut its profit forecast for this year.

June 10-year T-note prices (ZNM16 -0.17%) this morning are down -7.5 ticks. Wednesday's closes: TYM6 +4.00, FVM6 +0.25. Jun T-notes on Wednesday closed higher on increased safe-haven demand with the weakness in stocks and on strong demand for the Treasury's $23 billion 10-year T-note auction where indirect bidders, a proxy for foreign buyers, purchased a record 73.5% of the auction, higher than the 12-auction average of 60.7%.

The dollar index (DXY00 +0.26%) this morning is up +0.244 (+0.26%). EUR/USD (^EURUSD) is down -0.0031 (-0.27%). USD/JPY (^USDJPY) is up +0.79 (+0.73%). Wednesday's closes: Dollar Index -0.467 (-0.50%), EUR/USD +0.0054 (+0.47%), USD/JPY -0.86 (-0.79%). The dollar index on Wednesday closed lower on strength in the currencies of the oil-exporting countries of Canada and Russia after the price of crude oil jumped +3%.

June WTI crude oil (CLM16 +0.82%) this morning is up +41 cents (+0.89%) at a 1-1/2 week high. June gasoline (RBM16 -0.13%) is up +0.0002 (+0.01%). Wednesday's closes: CLM6 +1.33 (+2.98%), RBM6 +0.0849 (+5.71%). Jun crude and gasoline on Wednesday posted 1-week highs and closed higher on a weaker dollar, the unexpected -3.41 million bbl decline in EIA crude inventories (vs expectations of +750,000 bbl), and the -0.3%drop in U.S. crude output in the week ended May 6 to a 1-1/2 year low of 8.802 million bpd.

GLOBAL EVENT CALENDAR05/12/2016

US	0830 ET	Weekly initial unemployment claims expected -4,000 to 270,000, previous +17,000 to 274,000. Weekly continuing claims expected-1,000 to 2.120 million, previous -8,000 to 2.121 million.
	0830 ET	Apr import price index expected +0.6% m/m and -5.4% y/y, Mar +0.2% m/m and -6.2% y/y.
	0830 ET	USDA weekly Export Sales.
	1100 ET	Cleveland Fed President Loretta Mester speaks on monetary policy and inflation dynamics at an event in Reichenau Island, Germany.
	1100 ET	Treasury announces amount of 10-year TIPS to be auctioned May 19.
	1145 ET	Boston Fed President Eric Rosengren delivers luncheon speech to the Great Concord Chamber in Concord, NH.
	1300 ET	Treasury auctions $15 billion 30-year T-bonds.
	1330 ET	Kansas City Fed President Esther George speaks about the U.S. economy to business and community leaders in Albuquerque, NM.
JPN	0030 ET	Japan Apr bankruptcies, Mar -13.15% y/y.
	0100 ET	Japan Apr eco-watchers survey current expected -1.4 to 44.0, Mar 45.4. Apr eco-watchers survey outlook expected -0.5 to 46.2, Mar 46.7.
GER	0200 ET	German Apr wholesale price index, Mar +0.3% m/m and -2.6% y/y.
EUR	0500 ET	Eurozone Mar industrial production expected unch m/m and +0.9% y/y, Feb -0.8% m/m and +0.8% 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.

U.S. STOCK CALENDAR05/12/2016

Company	Ticker	Time	Event Description	Period	Estimate
Kohl's Corp	KSS US	Bef-mkt	Q1 2017 Earnings Release	Q1 2017	0.37
Perrigo Co PLC	PRGO US	6:00	Q1 2016 Earnings Release	Q1 2016	1.721
WW Grainger Inc	GWW US	8:00	April 2016 Sales and Revenue Call	2016
WW Grainger Inc	GWW US	8:00	April 2016 Sales and Revenue Release	2016
Perrigo Co PLC	PRGO US	8:00	Q1 2016 Earnings Call	Q1 2016
Principal Financial Group Inc	PFG US	8:00	Roadshow - Paris	Y 2016
Ralph Lauren Corp	RL US	8:00	Q4 2016 Earnings Release	Q4 2016	0.833
Ford Motor Co	F US	8:30	Annual General Meeting
Kohl's Corp	KSS US	8:30	Q1 2017 Earnings Call	Q1 2017
E*TRADE Financial Corp	ETFC US	8:30	Annual General Meeting	Y 2016
Ralph Lauren Corp	RL US	9:00	Q4 2016 Earnings Call	Q4 2016
EMC Corp/MA	EMC US	10:00	Annual General Meeting	Y 2016
Owens-Illinois Inc	OI US	10:00	Annual General Meeting
Cimarex Energy Co	XEC US	10:00	Annual General Meeting
Discover Financial Services	DFS US	10:00	Annual General Meeting	Y 2016
Apache Corp	APA US	11:00	Annual General Meeting	Y 2016
Exxon Mobil Corp	XOM US	11:00	Executive Compensation Update Call
Torchmark Corp	TMK US	11:00	Annual General Meeting	Y 2016
Transocean Ltd	RIG US	11:00	Annual General Meeting	Y 2016
Valero Energy Corp	VLO US	11:00	Annual General Meeting	Y 2016
CF Industries Holdings Inc	CF US	11:00	Annual General Meeting
Union Pacific Corp	UNP US	13:00	Annual General Meeting
Invesco Ltd	IVZ US	13:00	Annual General Meeting
Edwards Lifesciences Corp	EW US	13:00	Annual General Meeting
NVIDIA Corp	NVDA US	16:20	Q1 2017 Earnings Release	Q1 2017	0.407
Nordstrom Inc	JWN US	16:45	Q1 2017 Earnings Call	Q1 2017
Symantec Corp	SYMC US	17:00	Q4 2016 Earnings Call	Q4 2016
NVIDIA Corp	NVDA US	17:00	Q1 2017 Earnings Call	Q1 2017
Nordstrom Inc	JWN US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	0.456
Symantec Corp	SYMC US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	0.22
Dow Chemical Co/The	DOW US		Annual General Meeting
Host Hotels & Resorts Inc	HST US		Annual General Meeting
Norfolk Southern Corp	NSC US		Annual General Meeting - Proxy Fight
UDR Inc	UDR US		Annual General Meeting
AutoNation Inc	AN US		Annual General Meeting	Y 2016
Waste Management Inc	WM US		Annual General Meeting
Western Union Co/The	WU US		Annual General Meeting
CH Robinson Worldwide Inc	CHRW US		Annual General Meeting
Sempra Energy	SRE US		Annual General Meeting
Assurant Inc	AIZ US		Annual General Meeting
Zoetis Inc	ZTS US		Annual General Meeting	Y 2016

Wednesday, October 1, 2014

BARCHART MORNING CALL 10/1

BARCHART MORNING CALL

Wednesday, October 1st, 2014View 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

December E-mini S&Ps (ESZ14 -0.14%) this morning are down -0.10% and European stocks are down -0.09% after a gauge of Eurozone manufacturing activity last month was revised lower to its slowest pace of expansion in 15 months. Losses were contained after data showed Chinese manufacturing activity was stronger-than-expected last month. Greek stocks rallied sharply after the Financial Times reported that ECB President Draghi at Thursday's ECB policy meeting will unveil a plan to buy private-sector assets and will push for the central bank to buy bundles of Greek and Cypriot bank loans with "junk" ratings. Asian stocks closed mixed: Japan -0.56%, Hong Kong and China closed for holiday, Taiwan +0.26%, Australia +0.78%, Singapore -0.39%, South Korea -1.54%, India -0.23%. Commodity prices are mixed. Nov crude oil (CLX14 +0.67%) is up +0.36%. Nov gasoline (RBX14 +0.58%) is up +0.31%. Dec gold (GCZ14 -0.15%) is down -0.21%. Dec copper (HGZ14 +1.20%) is up +0.57%. Agriculture and livestock prices are lower with Dec corn down -0.47% at a fresh 5-year low. The dollar index (DXY00 +0.23%) is up +0.18%. EUR/USD (^EURUSD) is down -0.27%. USD/JPY (^USDJPY) is up +0.17% at a new 6-year high. Dec T-note prices (ZNZ14 +0.18%) are up +8.5 ticks at a 3-week high on carry-over support from a rally in German bunds to a 3-week high.
The German Sep Markit/BME manufacturing PMI was revised lower to 49.9 from the previously reported 50.3, the first time that manufacturing activity in Germany has contracted in 15 months.
The Eurozone Sep Markit manufacturing PMI was revised down to 50.3 from the previously reported 50.5, the slowest pace of expansion in 15 months.
The China Sep manufacturing PMI was unchanged at 51.1, better than expectations of -0.1 to 51.0.
The UK Sep Markit manufacturing PMI fell -0.6 to 51.6, weaker than expectations of +0.2 to 52.7 and the slowest pace of expansion in 17 months.
The Japan Q3 Tankan large manufacturing business conditions unexpectedly improved to 13 from 12 in Q2, better than expectations of decline to 10.

U.S. STOCK PREVIEW

Today’s Sep ISM manufacturing index is expected to show a -0.5 point decline to 58.5. Today’s Sep ADP employment report is expected to show an increase of +207,000, slightly better than August’s report of +204,000. Today’s Sep total vehicle sales report is expected to fall back to 16.80 million units from the 8-1/2 year high of 17.45 million posted in August.
There is one of the Russell 1000 companies that reports earnings today: Acuity Brands (consensus $1.22). Equity conferences this week include: Oracle OpenWorld 2014 on Mon-Wed, Unconventional Resources Conference Canada 2014 on Wed, and Paris Motor Show 2014-Press Days on Thu.

OVERNIGHT U.S. STOCK MOVERS

Dean Foods (DF +0.61%) was downgraded to 'Hold' from 'Buy' at BB&T.
Panera Bread (PNRA +2.51%) was upgraded to 'Buy' from 'Hold' at Wunderlich.
Tyson Foods (TSN +1.34%) was upgraded to 'Neutral' from 'Underperform' at Credit Suisse.
Janus Capital (JNS -1.09%) was upgraded to 'Buy' from 'Hold' at Jefferies.
eBay (EBAY +7.54%) was downgraded to 'Hold' from 'Buy' at Jefferies.
Allergan (AGN -0.84%) was upgraded to 'Buy' from 'Hold' at Stifel.
Freeport McMoRan (FCX +0.77%) was initiated with a 'Buy' at Brean Capital with a price target of $39.
Lockheed Martin (LMT +0.78%) was awarded a $246.61 million modification to a previously awarded government contract to develop, test, and certify two Drag Chute Systems for the Low Rate Initial Production Lot VII F-35 Lightning II Joint Strike Fighter aircraft.
Tekmira (TKMR +2.22%) surged 20%, Hemispherx BioPharma (HEB unch) climbed 15%, NewLink Genetics (NLNK -7.11%) jumped 14%, and BioCryst (BCRX -6.77%) rose over 10% in after-hours trading after the CDC confirmed that an individual traveling from Liberia has been diagnosed with the Ebola virus in the U.S.
NRG Energy (NRG +0.23%) was upgraded to 'Strong Buy' from 'Buy' at ISI Group.
Dynegy (DYN -1.54%) and Exelon (EXC -0.06%) were both upgraded to 'Buy' from 'Hold' at ISI Group.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 -0.14%) this morning are down -2.00 points (-0.10%). The S&P 500 index on Tuesday closed lower: S&P 500 -0.28%, Dow Jones -0.17%, Nasdaq +0.06%. Bearish factors included (1) the -7.6 point drop in Sep U.S. Sep consumer confidence (Conference Board) to 86.0, much weaker than expectations of -0.2 to 92.2 and the lowest in 4 months, (2) the -0.50% m/m drop in the Jul S&P/CaseShiller composite-20 home price index, weaker than expectations of -0.10%, and (3) the -3.8 point drop in the Sep Chicago PMI to 60.5, weaker than expectations of -2.3 to 62.0.
Dec 10-year T-notes (ZNZ14 +0.18%) this morning are up +8.5 ticks at a 3-week high. Dec 10-year T-note futures prices on Tuesday closed lower. Bearish factors included (1) hawkish comments from Dallas Fed President Fisher who said that as the economy continues to accelerate the Fed may need to raise rates in Q1-2015, and (2) speculation that Wednesday’s Sep ADP employment change will show strength in the U.S. labor market. Closes: TYZ4 -4.00, FVZ4 -1.50.
The dollar index (DXY00 +0.23%) this morning is up +0.157 (+0.18%). EUR/USD (^EURUSD) is down -0.0034 (-0.27%) and USD/JPY (^USDJPY) is up +0.19 (+0.17%) at a new 6-year high. The dollar index on Tuesday rallied to a 4-1/4 year high and closed higher. Bullish factors included (1) the slide in EUR/USD to a 2-year low on expectations for additional ECB stimulus after the Eurozone Sep CPI eased to a 4-3/4 year low of +0.3% y/y, and (2) the rally in USD/JPY to a 6-year high as the yen plunged on the divergent Fed/BOJ monetary policies. Closes: Dollar index +0.345 (+0.40%), EUR/USD -0.00549 (-0.43%), USD/JPY +0.149 (+0.14%).
Nov WTI crude oil (CLX14 +0.67%) this morning is up +33 cents (+0.36%) and Nov gasoline (RBX14 +0.58%) is up +0.0076 (+0.31%). Nov crude and Nov gasoline prices on Tuesday closed sharply lower: CLX4 -3.41 (-3.61%), RBXX4 -0.0769 (-3.06%). Nov crude retreated from a 3-1/2 week high on bearish factors that included (1) the rally in the dollar index to a new 4-1/4 year high, and (2) expectations that Wednesday’s weekly EIA inventory report will show that crude inventories rose by +1.5 mln bbl.

GLOBAL EVENT CALENDAR10/01/2014

US	0700 ET	Weekly MBA mortgage applications, previous -4.1% with purchase sub-index -0.3% and refi sub-index -7.0%.
	0815 ET	Sep ADP employment change expected +207,000, Aug +204,000.
	0945 ET	Revised Sep Markit manufacturing PMI expected unch at 57.9, prelim-Sep unch at 57.9.
	1000 ET	Sep ISM manufacturing PMI expected -0.5 to 58.5, Aug +1.9 to 59.0. Sep ISM employment, Aug -0.1 to 58.1. Sep ISM new orders, Aug +3.3 to 66.7. Sep ISM prices paid expected -1.0 to 57.0, Aug -1.5 to 58.0.
	1000 ET	Aug construction spending expected +0.5% m/m, Jul +1.8% m/m.
	1030 ET	EIA Weekly Petroleum Status Report.
	n/a	Sep total vehicle sales expected 16.80 million, Aug 17.45 million. Sep domestic vehicle sales expected 13.55 million, Aug 13.87 million.
JPN	0100 ET	Japan Sep vehicle sales, Aug -5.0% y/y.
GER	0355 ET	Revised German Sep Markit/BME manufacturing PMI, previous 50.3.
EUR	0400 ET	Revised Eurozone Sep Markit manufacturing PMI, previous 50.5.
UK	0430 ET	UK Sep Markit manufacturing PMI expected +0.2 to 52.7, Aug 52.5.

U.S. STOCK CALENDAR10/01/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
Acuity Brands Inc	AYI US	Bef-mkt	Q4 2014 Earnings Release	Q4 2014	1.219
Patterson Cos Inc	PDCO US	7:30	Analyst and Investor Day	Y 2014
BOK Financial Corp	BOKF US	8:00	Investor Meeting	Y 2014
American Capital Agency Corp	AGNC US	9:15	Investor Day	Y 2014
Ford Motor Co	F US	9:30	September 2014 Sales and Revenue Release	2014
Ford Motor Co	F US	10:00	September 2014 Sales and Revenue Call	2014
Acuity Brands Inc	AYI US	10:00	Q4 2014 Earnings Call	Q4 2014
General Motors Co	GM US	10:30	Business Update Call - Call 1
Autodesk Inc	ADSK US	11:30	Investor Day	Y 2014
General Motors Co	GM US	13:25	Business Update Call - Call 2

Monday, September 29, 2014

BARCHART MORNING CALL 9/29

BARCHART MORNING CALL

Monday, September 29th, 2014View 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

December E-mini S&Ps (ESZ14 -0.62%) this morning are down -0.63% and European stocks are down -0.57% after Eurozone Sep economic confidence fell to a 10-month low. A slide in European bank stocks is weighing on the overall market as well with Commerzbank AG down nearly 4% after a person with knowledge of the matter said the bank faces a U.S. inquiry into whether it broke anti-money laundering laws. Also, HSBC and Standard Chartered PLC both fell over 1% after they closed some of their Hong Kong branches as pro-democracy protesters clashed with police. The ruble fell to a record low of 39.59 per dollar on concern that EU and U.S. sanctions against Russia will propel capital outflows out of Russia. Asian stocks closed mixed: Japan +0.50%, Hong Kong -1.90%, China +0.43%, Taiwan -0.32%, Australia -0.93%, Singapore -0.08%, South Korea -0.15%, India -0.11%. Japanese exporters rose and led Japan's Nikkei Stock Index higher as a slide in the yen to a fresh 6-year low against the dollar boosted the earnings prospects of Japanese exporters. Commodity prices are mixed. Nov crude oil (CLX14 -0.50%) is down -0.55%. Nov gasoline (RBX14 +0.42%) is up +0.28%. Dec gold (GCZ14 +0.65%) is up +0.52%. Dec copper (HGZ14 -0.18%) is down -0.21% at a 3-1/2 month low on Chinese demand concerns after China Aug industrial profits fell for the first time in 2 years. Agriculture prices are mixed with Nov soybeans down -0.22% at a 4-1/2 year low as U.S, farmers begin to harvest a record crop. The dollar index (DXY00 -0.10%) is down -0.02%. EUR/USD (^EURUSD) is up +0.02%. USD/JPY (^USDJPY) is up +0.18% at a fresh 6-year high. Dec T-note prices (ZNZ14 +0.20%)are up +5.5 ticks.
Eurozone Sep economic confidence fell -0.7 to 99.9, right on expectations and the lowest in 10 months. The Eurozone Sep business climate indicator fell -0.9 to 0.07, a larger decline than expectations of -0.06 to 0.10 and the lowest in 11 months.
UK Aug net consumer credit rose +0.9 billion pounds, more than expectations of +0.8 billion pounds.
UK Aug mortgage approvals were 64,200, less than expectations of 65,000, and Jul was revised lower to 66,100 from the originally reported 66,600.
China Aug industrial profits fell -0.6% y/y, the first decline in 2 years.

U.S. STOCK PREVIEW

Today's Aug personal income and spending reports is expected to improve to +0.3% and +0.4%, respectively, from the July reports of +0.2% and -0.1%. Today's Aug PCE deflator is expected to ease to +1.4% y/y from +1.6% y/y in July. Meanwhile, today's Aug core PCE deflator is expected to ease to +1.4% y/y from +1.5% in July. Today’s Aug pending home sales report is expected to show a decline of -0.5% m/m, falling back after the +3.3% increase seen in July. There is one of the Russell 1000 companies that report earnings today: Cintas (consensus $0.75).
Equity conferences this week include APICS Supply Chain Council - Europe conference 2014 on Mon, European Society for Medical Oncology (ESMO) Meeting on Mon, Oracle OpenWorld 2014 on Mon-Wed, Johnson Rice Energy Conference on Mon-Tue, Bloomberg Canadian Fixed Income Conference on Tue, SACHS ASSOCIATES - Biotech in Europe Forum For Global Partnering & Investment on Tue, Deutsche Bank Leveraged Finance Conference on Tue, Leerink Partners Rare Disease Roundtable on Tue, JMP Securities Financial Services & Real Estate Conference on Tue, TAG Fall Consumer Conference on Tue, Unconventional Resources Conference Canada 2014 on Wed, and Paris Motor Show 2014-Press Days on Thu.

OVERNIGHT U.S. STOCK MOVERS

Ferrellgas Partners LP (FGP +1.44%) reported a Q4 EPS loss of -58 cents, wider than consensus of a -31 cent loss.
Mattel (MAT -1.25%) was downgraded to 'Neutral' from 'Buy' at MKM Partners.
Baidu (BIDU +0.68%) was upgraded to 'Buy' from 'Neutral' at UBS.
FedEx (FDX +1.67%) was upgraded to 'Outperform' from 'Market Perform' at Cowen.
Rent-A-Center (RCII +0.03%) was upgraded to 'Buy' from 'Hold' at KeyBanc.
Janus Capital (JNS +43.02%) was upgraded to 'Equal Weight' from 'Underweight' at Morgan Stanley.
Encana (ECA +0.86%) acquires Athlon Energy (ATHL +2.61%) for $58.50 per share or $5.93 billion.
Nike (NKE +12.23%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Allianz (AZSEY -6.14%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
The U.S. Navy awarded Raytheon (RTN +1.33%) a $251 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015 for the U.S. Navy and for the U.K. Royal Navy.
HealthCor Management reported a 4.0% stake in Allscripts (MDRX +1.04%) .
Point72 Asset reported a 5.1% passive stake in Stage Stores (SSI +1.95%) .
Meritage Group reported a 5.0% passive stake in Sally Beauty Supply (SBH +0.47%) .
Alimera Sciences (ALIM -3.90%) soared over 25% in after-hours trading after it announced that the FDA has approved its Iluvien drug for the treatment of diabetic macular edema.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ14 -0.62%) this morning are down -12.50 points (-0.63%). The S&P 500 index on Friday closed higher: S&P 500 +0.86%, Dow Jones +0.99%, Nasdaq +1.15%. The main bullish factor Friday was the upward revision in U.S. Q2 GDP to +4.6% q/q annualized from +4.2%, right on expectations and the fastest pace of expansion since Q4 of 2011. On the negative side was the final-Sep U.S. consumer confidence index from the University of Michigan, which came in unchanged at 84.6, weaker than expectations of +0.2 to 84.8.
Dec 10-year T-notes (ZNZ14 +0.20%) this morning are up +5.5 ticks. Dec 10-year T-note futures prices on Friday fell back from a 2-week high and closed lower. Bearish factors included (1) reduced safe-haven demand for Treasuries after stocks rallied, and (2) concern that the departure of Bill Gross, the manager of the world’s largest bond fund at PIMCO, may lead to reduced exposure in the fund to U.S. Treasury securities. Closes: TYZ4 -10.00, FVZ4 -6.75.
The dollar index (DXY00 -0.10%) this morning is down -0.014 (-0.02%). EUR/USD (^EURUSD) is up +0.0003 (+0.02%) and USD/JPY (^USDJPY) is up +0.20 (+0.18%) at a 6-year high. The dollar index on Friday climbed to a new 4-year high and closed higher. Bullish factors included (1) the upward revision to U.S. Q2 GDP to +4.6%, the fastest pace of growth since Q4 of 2011, and (2) weakness in EUR/USD which dropped to a 1-3/4 year low after German Oct GfK consumer confidence fell to a 9-month low and after ECB Governing Council member Coene said the situation in the Eurozone “remains fragile.” Closes: Dollar index +0.445 (+0.52%), EUR/USD -0.00684 (-0.54%), USD/JPY +0.522 (+0.48%).
Nov WTI crude oil (CLX14 -0.50%) this morning is down -51 cents (-0.55%) and Nov gasoline (RBX14 +0.42%) is up +0.0069 (+0.28%). Nov crude and gasoline prices on Friday settled mixed: CLX4 +1.01 (+1.09%), RBXX4 -0.0517 (-2.04%). Crude prices rose on signs of increased U.S. fuel demand after Q2 GDP was revised higher to +4.6%, the fastest pace of expansion since Q4 of 2011. Gasoline prices fell after the dollar index rose to a 4-year high and on speculation that gasoline supplies in the U.S. Northeast will be adequate despite the shutdown of Irving Oil’s 146,000 bpd St. John, New Brunswick, refinery.

GLOBAL EVENT CALENDAR09/29/2014

US	0830 ET	Aug personal spending expected +0.4%, Jul -0.1%. Aug personal income expected +0.3%, Jul +0.2%. Aug PCE deflator expected -0.1% m/m and +1.4% y/y, Jul +0.1% m/m and +1.6% y/y. Aug core PCE deflator expected unch m/m and +1.4% y/y, Jul +0.1% m/m and +1.5% y/y.
	0900 ET	Chicago Fed President Charles Evans speaks to the NABE on current economic conditions and monetary policy.
	1000 ET	Aug pending home sales expected -0.5% m/m and -1.4% y/y, Jul +3.3% m/m and -2.7% y/y.
	1030 ET	Sep Dallas Fed manufacturing activity expected +3.4 to 10.5, Aug -5.6 to 7.1.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA weekly crop progress.
UK	0430 ET	UK Aug net consumer credit expected +0.8 billion pounds, Jul +1.1 billion pounds.
	0430 ET	UK Aug mortgage approvals expected 65,000, Jul 66,600.
	0430 ET	UK Aug M4 money supply, Jul +0.3% m/m and -1.0% y/y.
	1905 ET	UK Sep GfK consumer confidence expected -1 to 0, Aug 1.
EUR	0500 ET	Eurozone Sep economic confidence expected -0.7 to 99.9, Aug 100.6. Sep business climate indicator expected 0.06 to 0.10, Aug 0.16.
	0500 ET	Revised Eurozone Sep consumer confidence, previous -1.4 to -11.4.
GER	0800 ET	German Sep CPI (EU harmonized) expected -0.1% m/m and +0.7% y/y, Aug unch m/m and +0.8% y/y.
JPN	1930 ET	Japan Aug jobless rate expected unch at 3.8%. Aug job-to-applicant ratio expected unch at 1.10.
	1930 ET	Japan Aug overall household spending expected -3.6% y/y, Jul -5.9% y/y.
	1950 ET	Japan Aug retail sales expected +0.7% m/m and +0.3% y/y, Jul -0.5% m/m and +0.6% y/y.
	1950 ET	Japan Aug industrial production expected +0.2% m/m and -1.1% y/y, Jul +0.4% m/m and -0.7% y/y.
	2130 ET	Japan Aug labor cash earnings expected +1.0% y/y, Jul +2.4% y/y.
CHI	2145 ET	Final-Sep China HSBC manufacturing PMI, prelim-Sep +0.3 to 50.5.

U.S. STOCK CALENDAR09/29/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
NiSource Inc	NI US	8:30	Investor Day
Seattle Genetics Inc	SGEN US	8:30	ADCETRIS Phase 3 AETHERA Clinical Trial Results Call
FedEx Corp	FDX US	9:00	Annual General Meeting	Y 2014
Corporate Office Properties Trust	OFC US	9:30	Analyst & Investor Day	Y 2014
Ford Motor Co	F US	13:00	Investor Day	Y 2014
Cintas Corp	CTAS US	17:00	Q1 2015 Earnings Call	Q1 2015
Cintas Corp	CTAS US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.746
Salix Pharmaceuticals Ltd	SLXP US		PDUFA, Relistor subcu, opioid-induced constipation in chronic pain setting

Wednesday, October 30, 2013

The 5 Best Mid Cap Stocks

Today's list of the Best Mid Cap Stocks comes from using Barchart to sort the S&P 400 Mid Cap Index stocks for new high frequency, then sorting for those with positive gains for both the last week and month and lastly panning through the charts using the flipchart feature. The list for today includes Janus Capital Group (JNS), Minerals Technologies (MTX), Unit Corp (UNT), Lancaster Colony Corp (LANC) and Affiliated Managers Group (AMG):

Janus Capital Group (JNS)