Showing posts with label LKND. Show all posts
Showing posts with label LKND. Show all posts

Monday, June 29, 2015

BARCHART MORNING CALL /

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU15 -1.01%) are down sharply by -1.12% at a 1-1/2 month low and European stocks are down-3.75% at a 1-week low on concern Greece will be forced to leave the Eurozone. The 10-year German bund yield sank to a 3-1/2 week low of 0.705% on increased safe-haven demand for government bonds from the Greek turmoil. Greece closed banks until at least July 6 and imposed capital controls in an attempt to avert a run on its banks. Trading on the Athens Stock Exchange will be closed as well until Jul 6. The move follows a breakdown of talks Friday between Greece and its creditors and Greek Prime Minister Tsipras's surprise announcement that he will put creditors’ demands up for a referendum to the Greek people to vote on July 5. The ECB on Sunday froze the level of emergency funds available to Greek banks at Friday's level of 89 billion euros. Asian stocks closed sharply lower: Japan -2.88%, Hong Kong -2.61%, China -3.34%, Taiwan -6.73%, Australia -2.23%, Singapore -1.23%, South Korea -1.27%, India -0.60%. China's Shanghai Composite dropped % to a 2-3/4 month low, despite the cut in interest rates by the PBOC on Saturday for the fourth time since Nov.
Commodity prices are mixed. Aug crude oil (CLQ15 -2.23%) is down -2.38% at a 3-week low, Aug gasoline (RBQ15 -1.31%) is down -1.66%. Metals prices are mixed. Aug gold (GCQ15 +0.40%) is up +0.31%. Jul copper (HGN15 -0.55%) is down -0.81. Agricultural prices are higher with Jul wheat up +0.53% at a 5-3/4 month high.
The dollar index (DXY00 +0.16%) is up +0.10% at a 3-week high. EUR/USD (^EURUSD) is down -0.46% at a 3-1/2 week low. USD/JPY (^USDJPY) is down -0.82% at a 1-month low as the plunge in global equity markets boosts safe-haven demand for the yen.

Sep T-note prices (ZNU15 +0.75%) are up +1-05/32 points at a 3-1/2 week high.
The PBOC cut interest rates for the fourth time since Nov on Saturday when they lowered the 1-year lending rate by -25 bp to 4.85% and the 1-year deposit rate by 25 bp to 2.00%, and said reserve ratios for some lenders including city commercial and rural commercial banks will be cut by 50 bp.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) May pending home sales (expected +1.4% m/m and +11.6% y/y after April's +3.4% m/m and +13.4% y/y), and (2) Jun Dallas Fed manufacturing outlook (expected +4.8 to -16.0 after May's -4.8 to -20.8).
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today include: none.
Equity conferences this week include: Nasdaq Investor Program Conference on Tue
OVERNIGHT U.S. STOCK MOVERS
Qualcomm (QCOM -0.90%) was downgraded to 'Sell' from 'Hold' at Drexel Hamilton.
JPMorgan Chase (JPM +0.44%) downgraded to Perform from Outperform at Oppenheimer.
Ternium (TX -1.08%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Tesla shares (TSLA -0.63%) have 'substantially' more upside, says Credit Suisse.
Synaptics (SYNA -3.90%) was upgraded to 'Outperform' from 'Perform' at Oppenheimer.
Chesapeake (CHK +0.45%) was upgraded to 'Buy' from 'Underperform' at Sterne Agee CRT.
Ryder (R -0.67%) and Old Dominion (ODFL -0.23%) were both upgraded to 'Buy' from 'Hold' at Stifel.
Macy's(M +0.98%) was downgraded to 'Sell' from 'Buy' at Deutsche Bank.
LifePoint (LPNT +0.59%) was upgraded to 'Buy' from 'Neutral' at Mizuho.
LinkedIn (LNKD -0.90%) filed to sell 3.57 million shares of Class A common stock for holders.
First Light Asset reported a 5.16% passive stake in Streamline Health (STRM +6.93%) .
J.B. Hunt (JBHT -0.12%) will replace Integrys Energy (TEG +0.70%) in the S&P 500 as of the close of trading on Tuesday, June 30.
MARKET COMMENTS
September E-mini S&Ps (ESU15 -1.01%) this morning are down -23.50 points (-1.12%) at a 1-1/2 month low. Friday's closes: S&P 500 -0.04%, Dow Jones +0.31%, Nasdaq -0.66%. The S&P 500 on Friday rebounded from a 1-week low and closed little changed. The main supportive factor was the +1.5 point increase in the final-June U.S. consumer sentiment index, better than expectations of unchanged at 94.6 and the highest level in 5 months. The main negative factor was the decline in tech stocks sparked by an -18% plunge in shares of Micron after it reported weaker-than-expected sales and earnings.
Sep 10-year T-notes (ZNU15 +0.75%) this morning are up +1-05/32 points at a 3-1/2 week high. Friday's closes: TYU5 -18.00, FVU5 -8.50. Sep 10-year T-note futures prices on Friday fell to a 9-month nearest-futures low and closed lower. The main bearish factor was the stronger-than-expected Jun University of Michigan U.S. consumer sentiment report, which bolstered the case for a Fed interest rate increase sooner rather than later.
The dollar index (DXY00 +0.16%) this morning is up +0.100 (+0.10%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0051 (-0.4%) at a 3-week low. USD/JPY (^USDJPY) is down -1.01 (-0.82%) at a 1-month low. Friday's closes: Dollar Index +0.285 (+0.30%), EUR/USD -0.00413 (-0.37%), USD/JPY +0.204 (+0.17%). The dollar index on Friday rallied to a 2-week high and closed higher on (1) the larger-than-expected increase in the Jun U.S. consumer sentiment index to a 5-month high, and (2) weakness in EUR/USD which fell to a 2-week low as the unresolved Greek debt crisis increased the risk of a Greek default.
Aug WTI crude oil (CLQ15 -2.23%) this morning is down -$1.42 a brrrel (-2.38%) at a 3-week low. Aug gasoline (RBQ15 -1.31%) is down -0.0336 (-1.66%). Friday's closes: CLQ5 -0.07 (-0.12%), RBQ5 +0.0077 (+0.38%). Aug crude oil and gasoline settled mixed Friday with Aug crude at a 2-week low. Negative factors included the rally in the dollar index to a 2-week high and concern that the U.S. crude oil supply glut will persist with U.S. crude oil inventories 84 million bbl above the 5-year average for this time of year.
GLOBAL EVENT CALENDAR06/29/2015
US1000 ETMay pending home sales expected +1.4% m/m and +11.6% y/y, Apr +3.4% m/m and +13.4% y/y.
1030 ETJun Dallas Fed manufacturing outlook expected +4.8 to -16.0, May -4.8 to -20.8.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA weekly crop progress.
UK0430 ETUK May net consumer credit expected +1.2 billion pounds, Apr +1.2 billion pounds.
0430 ETUK May mortgage approvals expected 68,800, Apr 68,100.
0430 ETUK May M4 money supply, Apr +0.4% m/m and unch y/y.
1905 ETUK Jun GfK consumer confidence expected +1 to 2, May 1.
EUR0500 ETEurozone Jun economic confidence expected unch at 103.8. Jun business climate indicator expected -0.01 to 0.27, May 0.28.
0500 ETRevised Eurozone Jun consumer confidence, previous unch at -5.6.
GER0800 ETGerman Jun CPI (EU harmonized) expected +0.1% m/m and +0.4% y/y, May +0.1% m/m and +0.7% y/y.
JPN2130 ETJapan May labor cash earnings expected +0.7% y/y, Apr +0.7% y/y. May real cash earnings expected +0.2% y/y, Apr -0.1% y/y.
U.S. STOCK CALENDAR06/29/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Harmonic IncHLIT US16:00Annual General Meeting
Investors Real Estate TrustIRET US16:30Q4 2015 Earnings ReleaseQ4 20150.163
Apollo Education Group IncAPOL US17:00Q3 2015 Earnings CallQ3 2015
Apollo Education Group IncAPOL USAft-mktQ3 2015 Earnings ReleaseQ3 20150.473
Fenix Parts IncFENX USAft-mktQ1 2015 Earnings ReleaseQ1 20150.045
Biglari Holdings IncBH USQ2 2015 Earnings ReleaseQ2 20151.45
General Communication IncGNCMA USAnnual General Meeting
Isramco IncISRL USAnnual General Meeting
Spectrum Pharmaceuticals IncSPPI USAnnual General Meeting

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Tuesday, March 12, 2013

Barchart Morning Call 3/12



Tuesday, March 12th, 2013>>View Older Reports
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OVERNIGHT MARKETS AND NEWS
June E-mini S&Ps (ESM13 -0.21%) are trading mildly lower by -0.16% as the market is on hold ahead of U.S. economic reports later this week and the EU Summit on Thursday/Friday. European stocks are little changed and Asian stocks closed mostly lower. Japan closed -0.28%, Hong Kong closed -0.87%, and China closed -1.42%. Commodity prices are mildly lower by -0.10% this morning. April crude oil (CLJ13 +0.07%) is down -0.12%, April gasoline (RBJ13 -0.31%) is down -0.28%, April gold (GCJ13 +1.01%) is up +0.34%, May copper (HGK13 +0.34%) is down -0.21%, and agriculture prices are trading mostly lower. The dollar index (DXY00 +0.16%) is mildly higher by +0.16% while EUR/USD (^EURUSD) is down -0.31% and USD/JPY (^USDJPY) is down -0.50%. June 10-year T-note prices (ZNM13 +0.18%) are up 7 ticks.
The opposition Democratic Party of Japan said that it would oppose the nomination of Kikuo Iwata for deputy governor of the BOJ, who is one of the two deputy governors proposed by Prime Minister Abe to help BOJ governor nominee Kuroda implement a new and expanded asset purchase program. However, Prime Minister Abe may still be able to push Mr. Iwata through the confirmation process if he can gain the support of smaller parties.
Spain today successfully sold 3.85 billion euros of 12-month bills with a bid cover ratio of 1.85, a bit lower than 1.97 at the last sale of 12-month bills on Feb 12. However, the yield fell to 1.363% from 1.548% at the Feb 12 auction.
Italy today successfully sold 7.75 billion euros of 1-year bills with a bid cover ratio of 1.50, up from 1.38 last month. However, the yield rose to 1.28% from 1.09% at the last auction of 1-year bills on Feb 12. Investors absorbed the bills despite last Friday's downgrade of Italy's credit rating to BBB+ by Fitch.
UK Jan industrial production fell -1.2% m/m, more than reversing the +1.1% increase seen in December and showing a much weaker-than-expected report than expectations of +0.1%. However, the drop in UK industrial production was largely due to a decline in North Sea oil production due to the shutdown of the Schiehallion oil platform.
UK Jan total trade deficit of -2.362 billion pounds was narrower than market expectations of -3.2 billion pounds and was narrower than Jan's report of a revised -2.811 bln pounds (prelim -3.201 billion pounds). The narrower trade deficit was supportive for the pound.
Japan's Feb consumer confidence index rose by +1.0 point to 44.3 from 43.3 in Jan and was stronger than market expectations for a -0.3 point decline to 43.0.
The Germany Feb wholesale price index report of +0.1% m/m and +1.4% y/y was weaker than Jan's report of +0.3% m/m and +2.3% y/y.
Germany's final-Feb EU-harmonized CPI was left unrevised, as expected, at +0.8% m/m and +1.8% y/y.
U.S. STOCK PREVIEW
Today is a light news day with only the 3-year T-note auction on the calendar. House Budget Chairman Paul Ryan today will release his fiscal 2014 budget. President Obama will be at Capitol Hill to meet with members of Congress on budget issues. There are earnings reports today from Costco (consensus $1.06), Laredo Petroleum (0.10), and Engility Holdings (0.50).
Conferences during the remainder of this week include Edison Electric Institute - International Utility Conference on Mon-Tue, Credit Suisse Global Services Conference on Mon-Wed, Bank of America Merrill Lynch Consumer & Retail Conference on Tue-Wed, World Biofuels Markets 2013 on Tue-Wed, China Healthcare Investment Conference on Tue-Wed, FIA International Derivatives Conference on Tue-Thu, Piper Jaffray Technology Media and Telecommunications Conference on Tue-Wed, Barclays Capital Healthcare Conference on Tue-Thu, UBS Global Consumer Conference on Wed-Thu, and Susquehanna Chemical Conference on Thu.

June E-mini S&Ps (ESM13 -0.21%) are mildly lower by -2.50 points (-0.16%) in mostly technical trade. The S&P 500 index on Monday closed higher with the Dow at a record high and the S&P 500 at a 5-1/3 year high. Bullish factors included (1) carry-over support from Friday’s stronger-than-expected U.S. Feb payroll report and (2) the larger-than-expected increase in Germany’s Jan exports (+1.4% versus expectations of +0.5%). The stock market shook off Fitch Ratings downgrade of Italy’s debt rating and the weaker-than-expected Chinese Feb economic data on industrial production, retail sales and new yuan loans. Closes: S&P 500 +0.32%, Dow Jones +0.35%, Nasdaq +0.28%.
OVERNIGHT U.S. STOCK MOVERS
  • Costco (COST -0.58%) reported Q2 EPS at $1.24, well above the consensus of $1.06.
  • Bon-Ton Stores (BONT +1.02%) reported Q4 EPS of $3.71, well above the consensus of $3.57.
  • Dick's Sporting Goods (DKS -10.85%) was upgraded to a Conviction Buy rating from Buy by Goldman Sachs.
  • Apple's (AAPL +1.42%) price target was lowered to $420 from $500 by Jefferies as Jefferies sees a 25% chance that Apple with miss its Q1 guidance due to slowing sales.
  • LinkedIn (LNKD +0.12%) announced it will buy newsreader app Pulse for between $50 million and $100 million.
  • Pall Corporation (PLL -0.23%) has signed a 30-year agreement with Brazilian aerospace innovator Embraer (ERJ +2.48%) to supply hydraulic filter manifolds and assemblies for KC-390 aircraft.
  • Lakeland Industries (LAKE -0.20%) slumped over 20% in after-hours trading after the company reported a $11.5M goodwill impairment charge in Brazil.
  • iRobot (IRBT -0.48%) climbed over 9% in after-hours trading after it raised its guidance on Q1 EPS to 16 cents-20 cents, above a previous estimate of 0 cents-7 cents. It also raised its Q1 revenue estimate to of $102 million to $104 million, above a previous estimate of $98 million to $102 million, and above consensus of $100.36 million.
  • Rare Element Resources (REE -1.56%) announced rare earth element assay results from the final core holes completed during the 2012 drilling program at the company's 100% owned Bear Lodge property, located in northeastern Wyoming. The company said the drilling results confirm that the Bear Lodge deposits contain high grades of total rare earth oxide, including high abundances of combined Critical Rare Earth Oxides.
  • Cadence Design Systems (CDNS +0.69%) announced that it has entered into a definitive agreement to acquire Tensilica for approximately $380M in cash.
  • Diamond Foods (DMND +0.23%) fell over 5% in after-hours trading when it reported Q2 EPS ex-charges of 5 cents, below consensus of 6 cents, and said it expects net sales in the second half of fiscal 2013 to be down more on a year-over-year basis as compared to the first half of the fiscal year.
  • Casey's General Stores (CASY -0.17%) reported Q3 EPS of 40 cents, well below consensus of 47 cents.
  • Urban Outfitters (URBN +0.46%) reported Q4 EPS of 56 cents, slightly weaker than consensus of 57 cents.
MARKET COMMENTS
June 10-year T-notes (ZNM13 +0.18%) are up +7 ticks on some short-covering after recent losses. June 10-year T-note prices on Monday settled little changed as an increase in safe-haven demand from Fitch’s action to downgrade Italy’s debt rating was offset by supply pressures before this week’s $66 billion Treasury coupon auction package. Closes: TYM3 unch, FVM3 unch.
The dollar index (DXY00 +0.16%) is mildly higher by +0.13 points (+0.16%). EUR/USD (^EURUSD) is down -0.0041 (-0.31%) despite today's successful Spanish and Italian bill sales. USD/JPY (^USDJPY) is down -0.48 yen (-0.50%) with the yen showing some weakness on the possibility that one of Prime Minister Abe's choices for a BOJ deputy governor may not be confirmed. The dollar index on Monday finished slightly lower as stock market strength reduced safe-haven demand for the dollar. Gains in EUR/USD were limited after Fitch Ratings late Friday downgraded Italy’s debt rating. USD/JPY strengthened after Japanese Jan machine orders fell more than expected (-13.1% m/m versus expectations of -1.7% m/m), which weakened the yen. Closes: Dollar index -0.12 (-0.15%), EUR/USD +0.0041 (+0.32%), USD/JPY +0.275 (+0.29%).
April WTI crude oil (CLJ13 +0.07%) is slightly lower by -0.11 (-0.12%) while April gasoline (RBJ13 -0.31%) is down -0.0088 (-0.28%). Crude oil and gasoline prices on Monday settled mixed. Stock market strength and dollar weakness offset weak Chinese economic data. April gasoline retreated from a 2-week high on speculation that U.S. refinery production will increase as summer driving season approaches. Closes: CLJ3 +0.11 (+0.12%), RBJ3 -0.0511 (-1.60%).
GLOBAL EVENT CALENDAR03/12/2013
US1300 ETTreasury sells $32 billion in 3-year T-notes.
n/aHouse Budget Committee Chairman Paul Ryan releases his fiscal 2014 budget proposal.
1400 ETFeb monthly budget statement expected -$220 bln.
1630 ETAPI weekly U.S. oil statistics.
JPN0100 ETJapan Feb consumer confidence expected 43.0, Jan 43.3.
GER0300 ETGerman final-Feb CPI (EU harmonized) expected unrevised from preliminary +0.6% m/m and +1.8% y/y.
0300 ETGerman Feb wholesale price index, Jan +0.3% m/m and +2.3% y/y.
UK0530 ETU.K. Jan industrial production expected +0.1% m/m and -1.1% y/y, Dec +1.1% m/m and -1.7% y/y. an manufacturing production expected unch m/m and -1.0% y/y, Dec +1.6% m/m and -1.5% y/y.
0530 ETUK Jan visible trade balance expected -8.89 bln pounds, Dec -8.897 bln pounds. Jan non-EU trade balance expected -4.5 bln pounds, Dec -4.239 bln pounds. UK Jan total trade balance expected -3.2 bln pounds, Dec -3.201 bln pounds.
1100 ETU.K. Feb NIESR GDP estimate, Jan 0.0%.
U.S. STOCK CALENDAR03/12/2013
Company NameSymbolTimeEvent DescriptionPeriodEPS Est (US$)
Laredo Petroleum Holdings IncLPI USBef-mktQ4 2012 Earnings ReleaseQ4 20120.102
WW Grainger IncGWW US8:00February 2013 Sales and Revenue Call2013
WW Grainger IncGWW US8:00February 2013 Sales and Revenue Release2013
Discover Financial ServicesDFS US8:30Financial Community BriefingY 2013
Chevron CorpCVX US9:00Analyst MeetingY 2013
Laredo Petroleum Holdings IncLPI US10:00Q4 2012 Earnings CallQ4 2012
Costco Wholesale CorpCOST US11:00Q2 2013 Earnings CallQ2 2013
NextEra Energy IncNEE US13:00Investor ConferenceY 2013
Thoratec CorpTHOR US13:00Annual & Extraordinary General MeetingY 2012
Toro Co/TheTTC US14:30Annual General MeetingY 2013
Engility Holdings IncEGL US17:00Q4 2012 Earnings CallQ4 2012
Engility Holdings IncEGL USAft-mktQ4 2012 Earnings ReleaseQ4 20120.495
Costco Wholesale CorpCOST USQ2 2013 Earnings ReleaseQ2 20131.057
JDS Uniphase CorpJDSU USAnalyst MeetingY 2013
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