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Tuesday, September 10, 2013

Barchart Moring Call 9/10

Barchart Morning Call

BC - Tue Sep 10, 6:43AM CDT

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 +0.64%) this morning are up +0.51% and European stocks are up +1.38%, both at 3-week highs, on strong Chinese economic data and reduced tensions in the Middle East. Asian stocks closed higher: Japan +1.54%, Hong Kong +0.99%, China +1.40%, Taiwan +0.20%, Australia +0.38%, Singapore +1.16%, South Korea +1.19%, India +3.77%. China's Shanghai Stock Index climbed to a 3-month high and boosted other global equity markets on signs that the Chinese economy is improving after China's industrial output rose more-than-expected at its fastest pace in 17-months. Commodity prices are mixed. Oct crude oil (CLV13 -1.52%) is down -0.77% and Oct gasoline (RBV13 -0.94%) is down -0.14% at a 4-week low after the U.S. said Russia's plan for Syria to surrender its chemical weapons may remove the need for a military strike against Syria. Dec gold (GCZ13 -1.36%) is down -1.05% and Dec copper (HGZ13 -0.06%) is up +0.12%. Agricultural and livestock prices are mixed. The dollar index (DXY00 +0.17%) is up +0.14%. EUR/USD (^EURUSD) is down -0.10% and USD/JPY (^USDJPY) is up +0.61%. December T-note prices (ZNZ13 -0.42%) are down -12.5 ticks on reduced safe-haven demand as global stocks surge.
China Aug industrial production climbed +10.4% y/y, stronger than expectations of +9.9% y/y and the most in 17-months. China Aug retail sales rose +13.4% y/y, better than expectations of +13.3% y/y and the fastest pace in 8-months.
China Aug new yuan loans were 711.3 billion yuan, less than expectations of 730.0 billion yuan.
President Obama, who will address the U.S on the Syrian situation at 9 pm EST tonight in a nationally televised speech, said late Monday that a Russian proposal to convince Syria to give up its chemical weapons is a "potentially positive development."
Japan Aug machine tool orders fell -1.8% y/y, the fifteenth consecutive month that machine tool orders have fallen on a year-over-year basis.
The minutes of the Aug 7-8 BOJ policy meeting showed that BOJ board members said that easing effects have firmly taking hold as JGB buys have put downward pressure on yields and that consumer-price expectations have turned favorable.
The Japan July tertiary industry index fell -0.4% m/m, a smaller decline than expectations of -0.5% m/m, although Jun was revised lower to -0.5% m/m from the originally reported -0.3% m/m.

U.S. STOCK PREVIEW

President Obama today will press hard for Congressional authorization of a use-of-force resolution against Syria by having lunch meetings with Republicans and Democrats and by delivering a prime-time address this evening. The Treasury today will kick off this week's $66 billion coupon package by selling $32 billion in 3-year T-notes. There are no major earnings reports today.
Equity conferences during the remainder of this week include the following: Barclays Global Financial Services Conference on Mon-Wed, Morgan Stanley Healthcare Conference on Mon-Wed, Vertical Research Partners Industrial Conference on Mon-Wed, 2013 dbAccess Aviation and Transportation Conference on Tue, Raymond James European Investors North American Equities Conference on Tue, Asia Pacific Petroleum Conference on Tue, Deutsche Bank dbAccess Aviation and Transportation Conference on Tue, Clinical Trial Supply USA on Tue-Wed, Rodman & Renshaw Health Care Conference on Tue-Wed, DA Davidson & Co Engineering & Construction Conference on Tue-Wed, Robert W Baird and Co Health Care Conference on Tue-Wed, KeyBanc Capital Markets Basic Materials & Packaging Conference on Tue-Wed, Goldman Sachs Global Retailing Conference on Tue-Wed, Deutsche Bank Access Technology Conference on Tue-Wed, RBC Capital Markets Global Industrials Conference on Tue-Wed, Stifel Nicolaus & Co Health Care Conference on Tue-Thu, Biofuels International 2013 Conference on Wed, Credit Suisse Asian Technology Conference on Wed, UBS Global Paper & Forest Products Conference on Thu, UBS Best of Americas Conference on Thu-Fri, Bank of America Merrill Lynch Global Real Estate Conference on Wed-Fri, Bank of America Merrill Lynch Healthcare Conference on Wed-Thu, Goldman Sachs Global Commodities Conference on Wed-Thu, Bank of America Merrill Lynch Media, Communications & Entertainment Conference on Wed-Thu, Barclays Capital CEO Energy - Power Conference on Wed-Thu, Barclays CEO Energy Power Conference on Wed-Thu, CL King & Associates Inc Best Ideas Conference on Wed-Thu, Bank of America Merrill Lynch Canada Mining Conference on Thu, and Bloomberg Canadian Fixed Income Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Jabil Circuit (JBL +1.65%) was upgraded to "Strong Buy" from "Buy" at Needham.
Interfax reported that Syria has accepted Russia's proposal on chemical weapons.
Marvell (MRVL +4.23%) was upgraded to "Overweight" from "Neutral" at JPMorgan.
Marathon Petroleum (MPC -1.75%) was downgraded to "Neutral" from "Outperform" at Credit Suisse.
Reuters reports that Apple (AAPL +1.60%) today is expected to introduce a cheaper version of the iPhone.
Northrop Grumman (NOC +0.42%) was awarded a $219.15 million government contract that involves foreign military sales to Saudi Arabia.
PG&E (PCG +0.27%) said it will take a $110 million charge in Q3 to settle the claims of substantially all of the remaining plaintiffs who sought compensation for personal injury and property damages related to the rupture of one of the utility’s natural gas transmission pipelines in San Bruno, California on September 9, 2010.
Gabelli reported a 5.22% stake in Leap Wireless (LEAP +0.06%) .
Pep Boys (PBY +1.68%) reported Q2 EPS of 10 cents, well below consensus of 19 cents.
SAC Capital reported a 8.1% stake in Clearwater Paper (CLW +0.43%) .
Five Below (FIVE +3.93%) reported Q2 EPS of 11 cents, better than consensus of 9 cents.
Casey's General Stores (CASY +1.49%) reported Q1 EPS of $1.43, stronger than consensus of $1.26.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 +0.64%) this morning are up +8.50 points (+0.51%) at a 3-week high. The S&P 500 index on Monday climbed to a 3-week high and closed higher after signs of economic strength in China and Europe boosted the prospects for the global economy. China Aug exports climbed +7.2% y/y, stronger than expectations of +5.5% y/y, and the Eurozone Sep Sentix investor confidence rose +11.4 points to a 28-month high of 6.5. Closes: S&P 500 +1.00%, Dow Jones +0.94%, Nasdaq 100 +1.17%.
Dec 10-year T-notes (ZNZ13 -0.42%) this morning are down -12.5 ticks. Dec 10-year T-note prices on Monday closed higher on speculation the economy is not strong enough to allow the Fed to aggressively taper its bond purchases. Another supportive factor for T-notes is increased safe-haven demand on concern that a U.S. attack on Syria could lead to a wider conflict in the Middle East. Closes: TYZ3 +13.50, FVZ3 +11.50.
The dollar index (DXY00 +0.17%) this morning is up +0.114 (+0.14%). EUR/USD (^EURUSD) is down -0.0013 (-0.10%) and USD/JPY (^USDJPY) is up +0.61 (+0.61%). The dollar index on Monday fell to a 1-week low and closed lower. Undercutting the dollar was strength in stocks, which curbed safe-haven demand for the dollar, and strength in EUR/USD which rallied up to a 1-week high after the Eurozone Sep Sentix investor confidence rose +11.4 points to 6.5, stronger than expectations of +1.4 to -3.5 and its best level in 28 months. Closes: Dollar index -0.353 (-0.43%), EUR/USD +0.00769 (+0.58%), USD/JPY +0.463 (+0.47%).
Oct WTI crude oil (CLV13 -1.52%) this morning is down -84 cents (-0.77%) and Oct gasoline (RBV13 -0.94%) is down -0.0040 (-0.14%) at a 4-week low on reduced Middle East tensions. Oct crude oil and gasoline prices on Monday settled lower with Oct gasoline falling to a 2-week low. Bearish factors included (1) speculation that President Obama may fail to garner enough Congressional support for a military strike against Syria, and (2) comments from a member of the Libyan parliament energy committee who said that Libya's oil production rebounded to 600,000 barrels a day from 200,000 barrels a day. Closes: CLV3 -1.01 (-0.91%), RBV3 -0.0677 (-2.37%).

GLOBAL EVENT CALENDAR09/10/2013

US	1300 ET	Treasury auctions $32 billion 3-year T-notes.
	1630 ET	API weekly U.S. oil statistics.
	n/a	President Obama addresses the nation regarding a U.S. military strike on Syria.
CHI	0130 ET	China Aug industrial production expected +9.9% y/y, July +9.7% y/y.
	0130 ET	China Aug retail sales expected +13.3% y/y, July +13.2% y/y.
JPN	1950 ET	Japan Q3 BSI business conditions all industry, Q2 5.9 q/q. Q3 BSI business conditions large manufacturing, Q2 5.0 q/q.
	1950 ET	Japan Aug domestic CGPI expected +0.3% m/m and +2.3% y/y, July +0.5% m/m and +2.2% y/y.

U.S. STOCK CALENDAR09/10/2013

Company Name	Ticker	Time	Event Description	Period
Warner Chilcott PLC	WCRX US	3:00	Extraordinary Shareholders Meeting	Y 2013
Warner Chilcott PLC	WCRX US	3:30	Annual General Meeting - M&A Vote
McDonald's Corp	MCD US	7:00	August 2013 Sales and Revenue Release	2013
PVH Corp	PVH US	8:30	Q2 2014 Earnings Call	Q2 2014
Actavis Inc	ACT US	9:00	Extraordinary Shareholders Meeting - M&A Vote	Y 2013
Green Mountain Coffee Roasters Inc	GMCR US	9:00	Investor Day	Y 2013
Hasbro Inc	HAS US	10:00	Investor Day	Y 2013
Lions Gate Entertainment Corp	LGF US	10:00	Annual General Meeting	Y 2013
Tempur Sealy International Inc	TPX US	10:00	Investor Meeting	Y 2013
Yum Brands Inc	YUM US		Investor & Analyst Meeting - Yum China - Day -2	Y 2013
Theravance Inc	THRX US		FDA Adcomm, Anoro Ellipta (LAMA/LABA), chronic obstructive pulmonary disease

Friday, August 2, 2013

Barchart Morning Call 8/2

Barchart Morning Call

Daily FX - 2 hrs 23 mins ago

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 +0.12%) this morning are up +0.09% and European stocks are up +0.15%. Asian stocks closed mostly higher: Japan +3.29%, Hong Kong +0.46%, China +0.08%, Taiwan +0.54%, Australia +1.09%, Singapore +0.33%, South Korea +0.18%, India -0.79%. Expectations for a strong U.S. July non-farm payrolls report today along with Thursday's data that showed factory output from the U.S. to China and Europe expanded in July is lifting global stocks. Commodity prices are mixed. Sep crude oil (CLU13 -0.29%) is down -0.24% as it retreated from a 2-week high. Sep gasoline (RBU13 -0.46%) is down -0.51%, Dec gold (GCZ13 -1.71%) is down -1.69% at a 2-week low as improving U.S. economic data boosts expectations the Fed will curb stimulus, and Sep copper (HGU13 +0.49%) is up +0.55%. Agricultural and livestock prices are mixed. The dollar index (DXY00 +0.12%) is up +0.12% at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.01% and USD/JPY (^USDJPY) is up +0.26%. September T-note prices (ZNU13 -0.14%) are down -4 ticks at a 3-week low on expectations that today's U.S. July non-farm payrolls will be strong enough to prompt the Fed to taper its bond buying.
UK July nationwide house prices rose +0.8% m/m, double expectations of +0.4% m/m and the biggest monthly gain in 11-months, while prices also rose +3.9% y/y, stronger than expectations of +3.1% y/y and the biggest annual gain in 3-years.
UK July PMI construction jumped +6.0 points to 57.0, stronger than expectations of +0.5 to 51.5 and its fastest pace of expansion in 3-years.
Eurozone Jun PPI was unch m/m and rose +0.3% y/y, right on expectations.
Spain’s Labor Ministry reported that Spain July jobless claims fell -64,900, smaller than expectations of a -75,000 decline.

U.S. STOCK PREVIEW

Today’s July non-farm payroll report is expected to show an increase of +185,000, which would be just below the increases of +195,000 or above seen in the previous 3 months (April +199,000, May +195,000, June +195,000). Meanwhile, today’s July unemployment rate is expected to fall -0.1 point to 7.5% after being unchanged at 7.6% in June. Today’s June personal income and spending reports are expected to be relatively strong at +0.4% m/m and +0.5%, following the May reports of +0.5% and +0.3%, respectively. Today's June core PCE deflator, which is the Fed’s preferred inflation measure, is expected to be unchanged from the April and May reports of +1.1% y/y, thus remaining at the record low for the series. Today’s June factory orders report is expected to show an increase of +2.3%, adding to the +2.1% increase seen in May. There are no equity conferences today.
There are 9 of the S&P 500 companies that report earnings today. Reports today include Pinnacle West Capital (consensus $1.14), Cablevision (0.05), Chevron (2.96), Eaton (1.11), Host Hotels & Resorts (0.42), Sealed Air (0.25), Berkshire Hathaway ($2165), Viacom (1.30), Washington Post.

OVERNIGHT U.S. STOCK MOVERS

CBOE Holdings (CBOE +1.40%) reported Q2 adjusted EPS of 54 cents, better than consensus of 51 cents.
Honda (HMC -0.51%) was upgraded to "Outperform" from "Neutral" at Credit Suisse.
Broadcom (BRCM +0.22%) was downgraded to "Neutral" from "Buy" at UBS.
Alliant Energy (LNT +1.45%) reported Q2 EPS of 59 cents, stronger than consensus of 55 cents.
GameStop (GME +1.88%) was downgraded to "Neutral" from "Outperform" at Credit Suisse.
Viacom (VIAB +2.18%) reported Q3 EPS of $1.29, weaker than consensus of $1.30, and also boosted its share buyback program by $10 billion to $20 billion.
Consolidated Edison (ED +0.72%) reported Q2 EPS of 59 cents, better than consensus of 57 cents.
Berry Plastics (BERY +1.26%) reported Q3 adjusted EPS of 35 cents, lower than consensus of 37 cents.
Lockheed Martin (LMT +1.71%) was awarded a firm-fixed-price governemnt contract woth up to $223.31 million for the procurement of Modernized-Target Acquisition Designations Sight pilot night vision sensors and related services.
MRC Global (MRC +1.23%) reported Q2 adjusted EPS of 43 cents, stronger than consensus of 38 cents.
Leap Wireless (LEAP -0.30%) reported a Q2 EPS loss of -$2.09, much weaker than consensus of -$1.12.
Activision Blizzard (ATVI +1.17%) reported Q2 EPS of 8 cents, better than consensus of 7 cents.
Intuit (INTU +0.89%) lowered guidance on fiscal 2013 EPS to $3.16-$3.18 vs. prior view of $3.31-$3.35.
LinkedIn (LNKD +4.52%) rose over 7% in after-hours trading after it reported Q2 adjusted EPS of 38 cents, better than consensus of 31 cents.
Kraft Foods (KRFT +0.99%) reported Q2 EPS ex-gain of 76 cents, stronger than consensus of 66 cents.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 +0.12%) this morning are up +1.50 points (+0.09%). The S&P 500 index on Thursday rallied to a new record high. Bullish factors included (1) reduced global growth concerns after the China July manufacturing PMI unexpectedly rose +0.2 to 50.3 and the Eurozone July PMI manufacturing was revised upward to a 2-year high of 50.3, and (2) strength in U.S. economic data after weekly initial unemployment claims unexpectedly fell -19,000 to a 5-1/2 year low of 326,000 and after the U.S. July ISM manufacturing index climbed +4.5 to a 2-year high of 55.4. Closes: S&P 500 +1.25%, Dow Jones +0.83%, Nasdaq 100 +1.17%.
Sep 10-year T-notes (ZNU13 -0.14%) this morning are down -4 ticks at a new 3-week low. Sep 10-year T-note prices on Thursday closed sharply lower as stronger-than-expected U.S. economic data on weekly initial unemployment claims boosted expectations for the Fed to cut its bond purchases, while the surge in the S&P 500 to a record high reduced the safe-haven demand for Treasuries. Closes: TYU3 -1-2.00, FVU3 -16.75.
The dollar index (DXY00 +0.12%) this morning is up +0.098 (+0.12%). EUR/USD (^EURUSD) is down -0.0001 (-0.01%) and USD/JPY (^USDJPY) is up +0.26 (+0.26%). The dollar index on Thursday closed higher on stronger-than-expected U.S. economic data (weekly jobless claims and the July ISM manufacturing index), which bolsters expectations the Fed will taper QE3 within a few months. EUR/USD fell back after ECB President Draghi said that risks to the economic outlook for the Eurozone “continue to be on the downside.” Closes: Dollar index +0.884 (+1.09%), EUR/USD -0.0095 (-0.71%), USD/JPY +1.664 (+1.70%).
Sep WTI crude oil (CLU13 -0.29%) this morning is down -0.26 (-0.24%) and Sep gasoline (RBU13 -0.46%) is down -0.0155 (-0.51%). Sep crude oil and gasoline prices on Thursday rose to 1-week highs and closed higher. Bullish factors included (1) stronger than expected U.S. economic data on weekly jobless claims and July ISM manufacturing, (2) expansion in China’s and the Eurozone’s July manufacturing PMIs, and (3) ECB President Draghi’s pledge to maintain accommodative monetary policy. Closes: CLU3 +2.86 (+2.72%), RBU3 +0.0321 (+1.07%).

GLOBAL EVENT CALENDAR08/02/2013

US	0830 ET	July non-farm payrolls expected +185,000, Jun +195,000. July private payrolls expected +195,000, Jun +202,000. July manufacturing payrolls expected +2,000, Jun 6,000. July unemployment rate expected -0.1 to 7.5%, Jun unch at 7.6%.
	0830 ET	July avg hourly earnings expected +0.2% m/m and +2.2% y/y, Jun +0.4% m/m and +2.2% y/y. July avg weekly hours expected unch at 34.5, Jun 34.5.
	0830 ET	Jun personal spending expected +0.5%, May +0.3%. Jun personal income expected +0.4%, May +0.5%. Personal income and spending annual revisions.
	0830 ET	Jun PCE deflator expected +0.4% m/m and +1.3% y/y, May +0.1% m/m and +1.0% y/y. Jun core PCE deflator expected +0.1% m/m and +1.1% y/y, May +0.1% m/m and +1.1% y/y.
	1000 ET	Jun factory orders expected +2.3%, May +2.1%.
	1215 ET	St. Louis Fed President James Bullard speaks on the economy at the 2013 Municipal Finance Conference in Boston, MA.
UK	0200 ET	UK July nationwide house prices expected +0.4% m/m and +3.1% y/y, Jun +0.3% m/m and +1.9% y/y.
	0430 ET	UK July PMI construction expected +0.5 to 51.5, Jun 51.0.
EUR	0500 ET	Eurozone Jun PPI expected unch m/m and +0.3% y/y, May -0.3% m/m and -0.1% y/y.
CHI	2100 ET	China July non-manufacturing PMI, Jun -0.4 to 53.9.

U.S. STOCK CALENDAR08/02/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Pinnacle West Capital Corp	PNW US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	1.139
Cablevision Systems Corp	CVC US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	0.045
Chevron Corp	CVX US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	2.955
Eaton Corp PLC	ETN US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	1.107
Host Hotels & Resorts Inc	HST US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	0.417
Sealed Air Corp	SEE US	7:30	Q2 2013 Earnings Release	Q2 2013	0.247
American International Group Inc	AIG US	8:00	Q2 2013 Earnings Call	Q2 2013
Viacom Inc	VIAB US	8:30	Q3 2013 Earnings Call	Q3 2013
Tesoro Corp	TSO US	8:30	Q2 2013 Earnings Call	Q2 2013
Morgan Stanley	MS US	9:00	Fixed Income Investor Update Call
Cablevision Systems Corp	CVC US	10:00	Q2 2013 Earnings Call	Q2 2013
Southwestern Energy Co	SWN US	10:00	Q2 2013 Earnings Call	Q2 2013
Eaton Corp PLC	ETN US	10:00	Q2 2013 Earnings Call	Q2 2013
Host Hotels & Resorts Inc	HST US	10:00	Q2 2013 Earnings Call	Q2 2013
Chevron Corp	CVX US	11:00	Q2 2013 Earnings Call	Q2 2013
Sealed Air Corp	SEE US	11:00	Q2 2013 Earnings Call	Q2 2013
Pinnacle West Capital Corp	PNW US	12:00	Q2 2013 Earnings Call	Q2 2013
Public Storage	PSA US	13:00	Q2 2013 Earnings Call	Q2 2013
Apartment Investment & Management Co	AIV US	13:00	Q2 2013 Earnings Call	Q2 2013
Dell Inc	DELL US	18:00	Extraordinary Shareholders Meeting (M&A Vote)
Berkshire Hathaway Inc	BRK/A US		Q2 2013 Earnings Release	Q2 2013	2165.8
Viacom Inc	VIAB US		Q3 2013 Earnings Release	Q3 2013	1.298
AutoNation Inc	AN US		July 2013 Sales and Revenue Release	2013
Washington Post Co/The	WPO US		Q2 2013 Earnings Release	Q2 2013

Monday, July 15, 2013

BARCHART MORNING CALL 7/15

BARCHART MORNING CALL

Monday, July 15th, 2013

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 +0.15%) this morning are up +0.10% at a 1-3/4 month high and European stocks are up +0.25%. Asian stocks closed higher: Japan closed for holiday, Hong Kong +0.12%, China +1.40%, Taiwan +0.42%, Australia +0.15%, Singapore +0.02%, South Korea +0.29%, India +0.38%. Global stocks are higher after China Q2 GDP rose at a 7.5% y/y pace, right on market expectations, although JPMorgan cut their 2013 China GDP estimate to 7.4% from 7.6%. Commodity prices are mostly lower. Aug crude oil (CLQ13 -0.60%) is down -0.65% after China's Jun industrial production rose at its slowest pace in 4 years. Aug gasoline (RBQ13 -1.47%) is down -0.91%, Aug gold (GCQ13 +0.36%) is up +0.35%, and Sep copper (HGU13 -0.59%) is down -0.63%. Agricultural prices are lower. The dollar index (DXY00 +0.40%) is up +0.35% on expectations that U.S. Jun retail sales, to be released later this morning, will be strong enough to add to the case for the Fed to reduce stimulus. EUR/USD (^EURUSD) is down -0.30% and USD/JPY (^USDJPY) is up +0.93%. September T-note prices (ZNU13 +0.01%) are little changed, up +0.5 of a tick.
China Q2 GDP rose 7.5% y/y, right on expectations, although it did slow from a 7.7% y/y pace in Q1.
China Jun industrial production climbed +8.9% y/y, weaker than expectations of +9.1% y/y and matched its slowest pace of growth in 4-years.
China Jun retail sales rose +13.3% y/y, the fastest pace in 4-months and stronger than expectations of +12.9% y/y.
UK July Rightmove house prices slowed to a +0.3% m/m increase from +1.2% in Jun, but rose +4.8% y/y, a 3-year high, from a 2.7% y/y increase in Jun.

U.S. STOCK PREVIEW

Today’s June retail sales report is expected to show a strong increase of +0.8% overall and +0.5% ex-autos. That would add to May’s respectable report of +0.6% and +0.3% ex-autos. Today’s July Empire manufacturing index is expected to show a small decline of -2.84 to 5.00, giving back a small part of the +9.27 point increase to 7.84 seen in June. There are four of the Russell 1000 companies that report earnings today: Citigroup (consensus $1.18), JB Hunt Transport (0.74), Cintas (0.70), Brown & Brown (0.35). There are no equity conferences this week.

OVERNIGHT U.S. STOCK MOVERS

According to the Korea Economic Daily, Samsung (SSNLF +0.88%) , which previously supplied the mobile application processors for Apple's (AAPL -0.18%) iPhones but lost the business to TSMC (TSM -0.54%) , will again be Apple's supplier for the chips from 2015.
Qualcomm (QCOM +1.17%) was downgraded to "Neutral" from "Buy" at Lazard Capital.
Harley-Davidson (HOG +1.56%) was downgraded to "Neutral" from "Outperform" at Wedbush.
Tiffany (TIF -0.09%) was upgraded to "Buy" from "Hold" at Stifel.
Gap (GPS +0.76%) was downgraded to "Neutral" from "Overweight" at Piper Jaffray.
Teekay Tankers (TNK +0.68%) was downgraded to "Underweight" from "Neutral" at JPMorgan.
Newmont Mining (NEM -2.45%) was downgraded to "Market Perform" from "Outperform" at BMO Capital.
CIBC downgraded Mosaic (MOS -1.32%) to "Sector Performer" from "Sector Outperformer" based on a reduction in its long-term potash price target to $400 a tonne from $450 a tonne.
Genesco (GCO -1.68%) was downgraded to "Neutral" from "Buy" at Sterne Agee.
UPS (UPS -5.83%) downgraded to "Outperform" from "Strong Buy" at Raymond James and was also downgraded to "Hold" from "Buy" at BB&T.
BNY Mellon (BK +0.97%) was upgraded to "Buy" from "Neutral" at Citigroup who also raised their price target on the stock to $34 from $28.
Leap Wireless (LEAP +2.57%) surged over 80% in after-hours trading after AT&T (T -0.17%) said it would purchase the company for $15 per share.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 +0.15%) this morning are up +1.75 points (+0.10%) at a 1-3/4 month high. The U.S. stock market on Friday settled slightly high as better-than-expected bank earnings offset an unexpected decline in July University of Michigan consumer confidence, (-0.2 to 83.9 versus expectations of +0.6 to 84.7) and comments from Philadelphia Fed President Plosser who said he wants to start tapering stimulus in September. Closes: S&P 500 +0.31%, Dow Jones +0.02%, Nasdaq 100 +0.64%.
Sep 10-year T-notes (ZNU13 +0.01%) this morning are little changed, up +0.5 of a tick. Sep 10-year T-note prices on Friday climbed to a 1-week high after the July U.S. consumer confidence index from the University of Michigan unexpectedly fell, but shed their gains and closed lower on hawkish comments from Philadelphia Fed President Plosser who said “I’d like for us to start in September” to taper asset purchases. Closes: TYU3 -7.00, FVU3 -6.25.
The dollar index (DXY00 +0.40%) this morning is up +0.289 (+0.35%). EUR/USD (^EURUSD) is down -0.0039 (-0.30%). USD/JPY (^USDJPY) is up +0.92 (+0.93%). The dollar index on Friday closed higher on expectations the Fed will taper its stimulus measures faster than the ECB. EUR/USD weakened after Fitch Ratings cut France’s credit ratings and after dovish comments from ECB Executive Board member Constancio who said that the Eurozone’s slow economic recovery “implies that monetary policy has to stay accommodative for a longer period of time.” Closes: Dollar index +0.242 (+0.29%), EUR/USD -0.0288 (-0.22%), USD/JPY +0.259 (+0.26%).
Aug WTI crude oil (CLQ13 -0.60%) this morning is down -69 cents a barrel (-0.65%) and Aug gasoline (RBQ13 -1.47%) is down -2.84 cents per gallon (-0.91%). Crude oil and gasoline prices on Friday closed higher as Aug gasoline climbed to a 3-1/4 month high. Bullish factors included (1) optimism that global central banks will keep stimulus measures in place after ECB Executive Board member Constancio said monetary policy needs to stay accommodative due to a substandard recovery, and (2) strength in gasoline on supply concerns after unplanned outages at Valero’s Port Arthur, Texas refinery and Irving Oil’s St. John, New Brunswick refinery have shuttered a combined 608,000 barrels a day of gasoline production. Closes: CLQ3 +1.04 (+0.99%), RBQ3 +0.0961 (+3.18%).

GLOBAL EVENT CALENDAR07/15/2013

US	0830 ET	Jul Empire manufacturing index expected -2.84 to 5.00, Jun +9.27 to 7.84.
	0830 ET	Jun retail sales expected +0.8% and +0.5% less autos, May +0.6% and +0.3% less autos.
	1000 ET	May business inventories expected unchanged, Apr +0.3%
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA Crop Progress.
JPN	n/a	Japanese markets closed for Marine Day.

U.S. STOCK CALENDAR07/15/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Citigroup Inc	C US	8:00	Q2 2013 Earnings Release	Q2 2013	1.176
Citigroup Inc	C US	10:00	Q2 2013 Earnings Call	C2 2013
Goldman Sachs Group Inc/The	GS US		Fabrice Tourre vs SEC Trial Begins

Monday, July 8, 2013

Buy Signals - Dyax, Groupon, Leap Wireless International and Envivio

Today I added Dyax (DYAX), Groupon (GRPN), Leap Wireless International (LEAP) and Envivio (ENVI) to the Barchart Van Meerten New High portfolio for positive price momentum. All the stocks were chosen from the New High List trading over 100K shares a day then sorted for frequency:

Dyax (DYAX)