MORNING CALL 5/11

MORNING CALL

Wednesday, May 11th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 -0.14%) are down -0.22% and European stocks are down -1.28% as a 5% sell-off in Disney in pre-market trading is dragging U.S. stocks lower. Also, Office Depot plunged 34% and Staples sank 15% in pre-market trading after a U.S. federal judge late yesterday blocked the $6.3 billion merger between the companies. Weakness in European bank stocks is pulling the overall European market lower, led by a nearly 3% decline in ABN Amro NV after it reported a -13% drop in Q1 earnings. Asian stocks settled mixed: Japan +0.08%, Hong Kong -0.93%, China +0.16%, Taiwan -0.25%, Australia +0.55%, Singapore -0.30%, South Korea -0.25%, India -0.68%. Japan's Nikkei Stock Index rose to a 1-week high, but fell back from its best levels after USD/JPY retreated from a 1-1/2 week high.

The dollar index (DXY00 -0.26%) is down -0.26%. EUR/USD (^EURUSD) is up +0.24%. USD/JPY (^USDJPY) is down -0.46%.

Jun T-note prices (ZNM16 -0.02%) are up +0.5 of a tick ahead of today's second leg of the Treasury's quarterly refunding; the $23 billion 10-year T-note auction.

According to people familiar with the matter, the ECB could discuss restoring Greek banks' access to its refinancing lines as soon as the June 2 ECB meeting. Greek government bonds could become eligible for inclusion in the ECB's QE program following completion of a bailout review by the ECB board once a staff-level agreement between the government and auditors representing creditor institutions is reached. Greek banks have been on emergency liquidity (ELA) since Feb 2015.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -3.4% with purchase sub-index -0.1% and refi sub-index -5.5%), (2) the Treasury's auction of $23 billion 10-year T-notes, and (3) Apr monthly budget statement (expected +$107.0 billion, Mar -$108.043 billion).

There are 8 of the Russell 1000 companies that report earnings today: Macy's (consensus $0.36), Aramark (0.39), TopBuild (0.15), Wendy's (0.06), CA (0.57), Middleby (0.84), Quorum Health, TerraForm Power (-0.22).

U.S. IPO's scheduled to price today: SiteOne Landscape Supply (SITE), Viamet Pharmaceuticals Holdings (VMET).

Equity conferences during the remainder of this week include: Citi Global Energy and Utilities Conference on Tue-Wed, Oppenheimer Industrial Growth Conference on Tue-Wed, Wells Fargo Industrial and Construction Conference on Tue-Wed, 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

Office Depot (ODP -2.72%) plunged over 30% in pre-market trading after a U.S. federal judge late yesterday blocked the $6.3 billion merger between Office Depot and Staples. Staples (SPLS +0.58%) is down 15% in pre-market trading.

Walt Disney (DIS +1.20%) fell over 5% in pre-market trading after it reported Q2 adjusted EPS of $1.36, below consensus of $1.40.

Alaska Air Group (ALK +0.77%) gained nearly 2% in after-hours trading after it was announced that it will replace SanDisk in the S&P 500 at the close of trading Thursday, May 12.

Electronic Arts (EA +0.03%) jumped nearly 7% in pre-market trading after it reported Q1 adjusted EPS of 50 cents, better than consensus of 42 cents, and then raised guidance on fiscal 2017 adjusted net revenue to $4.9 billion, higher than consensus of $4.83 billion.

Fossil Group (FOSL +1.73%) plunged over 30% in pre-market trading after it reported Q1 EPS of 12 cents, below consensus of 15 cents, and then lowered guidance on 2016 GAAP EPS to $1.80-$2.80 from a February 16 estimate of $2.80-$3.60, well below consensus of $3.05.

Nuance Communications (NUAN +3.24%) dropped nearly 6% in after-hours trading after it lowered guidance on 2016 adjusted revenue to $1.975 billion-$2.005 billion from a February 9 estimate of $1.98 billion-$2.03 billion.

Blue Buffalo Pet Products (BUFF unch) rallied nearly 5% in after-hours trading after it reported Q1 adjusted EPS of 19 cents, higher than consensus of 18 cents, and then raised guidance on the low end of its 2016 adjusted EPS view to 73 cents-74 cents from a Mar 8 estimate of 72 cents-74 cents.

Intrexon (XON +1.98%) fell nearly 3% in after-hours trading after it reported a Q1 loss of -55 cents a share, more than twice expectations for a -24 cent loss per share.

Planet Fitness (PLNT +1.36%) gained 5% in after-hours trading after it reported Q1 pro forma adjusted EPS of 15 cents, better than consensus of 13 cents, and then raised guidance on full-year EPS to 62 cents-65 cents from a prior view of 60 cents-63 cents.

Laredo Petroleum (LPI +2.20%) slipped nearly 4% in after-hours trading after it announced plans for a 9.5 million share secondary offering.

Albemarle (ALB +0.86%) climbed nearly 5% in after-hours trading after it reported Q1 net sales of $865.4 million, higher than consensus of $814.9 million, and then raised guidance on full-year EPS to $3.90-$4.25 from a prior view of $3.45-$3.90, higher than consensus of $3.66.

Rocket Fuel (FUEL +1.13%) surged over 20% in after-hours trading after it reported a Q1 adjusted EPS loss of -28 cents, half as much as consensus of a -56 cent loss.

Prospect Capital (PSEC +1.79%) fell over 1% in after-hours trading after it reported Q3 net investment income of 25 cents, below consensus of 26 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM16 -0.14%) this morning are down -4.50 points (-0.22%). Tuesday's closes: S&P 500 +1.25%, Dow Jones +1.26%, Nasdaq +1.40%. The S&P 500 on Tuesday rallied to a 1-1/2 week high and settled higher on positive carryover from an upward rebound in China's Shanghai Composite from a 1-3/4 month low to close little changed, and on the +149,000 increase in U.S. Mar JOLTS job openings to 5.757 million, stronger than expectations of +5,000 to 5.45 million and an 8-month high. Stocks were also boosted by strength in energy producer stocks after the price of crude oil rose +2.81%.

June 10-year T-note prices (ZNM16 -0.02%) this morning are up +0.5 of a tick. Tuesday's closes: TYM6 -0.50, FVM6 -0.25. Jun T-notes on Tuesday closed little changed. T-note prices were undercut by supply pressures as the Treasury auctions $62 billion of T-notes and T-bonds in the quarterly refunding this week and by reduced safe-haven demand with the rally in the S&P 500 to a 1-1/2 week high. T-note prices were able to recover nearly all of their losses on strong demand for the Treasury's $24 billion auction of 3-year T-notes that had a bid-to-cover ratio of 2.93, the highest since January.

The dollar index (DXY00 -0.26%) this morning is down -0.242 (-0.26%). EUR/USD (^EURUSD) is up +0.0027 (+0.24%). USD/JPY (^USDJPY) is down-0.50 (-0.46%). Tuesday's closes: Dollar Index +0.162 (+0.17%), EUR/USD -0.0011 (-0.10%), USD/JPY +0.95 (+0.88%). The dollar index on Tuesday rose to a 1-week high and closed higher on the larger-than-expected increase in U.S. Mar JOLTS job openings to an 8-month high. In addition, USD/JPY rallied to a 1-week high after Japanese Finance Minister Aso reiterated that the Japanese government can intervene to stabilize foreign-exchange markets if necessary, which weakened the yen.

June WTI crude oil (CLM16 +0.13%) this morning is up +15 cents (+0.34%). June gasoline (RBM16 +0.71%) is up +0.0117 (+0.79%). Tuesday's closes: CLM6 +1.22 (+2.81%), RBM6 +0.0430 (+2.98%). Jun crude and gasoline on Tuesday closed higher on reduced crude output from Nigeria and Libya after Royal Dutch Shell and Chevron said they were evacuating oil workers from the Niger Delta because of deteriorating security and after Libya said some of its oil fields will halt output unless a port blockade is lifted. Crude oil prices were undercut by the rally in the dollar index to a 1-week high.

GLOBAL EVENT CALENDAR05/11/2016

US	0700 ET	Weekly MBA mortgage applications, previous -3.4% with purchase sub-index -0.1% and refi sub-index -5.5%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Treasury auctions $23 billion 10-year T-notes.
	1400 ET	Apr monthly budget statement expected +$107.0 billion, Mar -$108.043 billion.
JPN	0100 ET	Japan Mar leading index CI expected -0.5 to 96.3, Feb 96.8. Mar coincident index expected +0.5 to 111.2, Feb 110.7.
UK	0430 ET	UK Mar industrial production expected +0.5% m/m and -0.4% y/y, Feb -0.3% m/m and -0.5% y/y.
	0430 ET	UK Mar manufacturing production expected +0.3% m/m and -1.9% y/y, Feb -1.1% m/m and -1.8% y/y.
	1901 ET	UK Apr RICS house price balance expected 35%, Mar 42%.

U.S. STOCK CALENDAR05/11/2016

Company	Ticker	Time	Event Description	Period	Estimate
LyondellBasell Industries NV	LYB US	5:00	Annual General Meeting	Y 2016
Macy's Inc	M US	Bef-mkt	Q1 2017 Earnings Release	Q1 2017	0.361
Principal Financial Group Inc	PFG US	8:00	Roadshow - London	Y 2016
Simon Property Group Inc	SPG US	8:30	Annual General Meeting	Y 2016
Macy's Inc	M US	9:00	Q1 2017 Earnings Call	Q1 2017
Laboratory Corp of America Holdings	LH US	9:00	Annual General Meeting	Y 2016
Dominion Resources Inc/VA	D US	9:30	Annual General Meeting	Y 2016
Frontier Communications Corp	FTR US	10:00	Annual General Meeting
Ameren Corp	AEE US	10:00	Q1 2016 Earnings Call	Q1 2016
American International Group Inc	AIG US	11:00	Annual General Meeting
Boeing Co/The	BA US	12:15	Investor Conference	Y 2016
Gilead Sciences Inc	GILD US	13:00	Annual General Meeting	Y 2016
CA Inc	CA US	17:00	Q4 2016 Earnings Call	Q4 2016
CA Inc	CA US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	0.573
CSX Corp	CSX US		Annual General Meeting
Kohl's Corp	KSS US		Annual General Meeting	Y 2016
Murphy Oil Corp	MUR US		Annual General Meeting
NiSource Inc	NI US		Annual General Meeting
Skyworks Solutions Inc	SWKS US		Annual General Meeting
Waters Corp	WAT US		Annual General Meeting
Alexion Pharmaceuticals Inc	ALXN US		Annual General Meeting
Akamai Technologies Inc	AKAM US		Annual General Meeting
Chipotle Mexican Grill Inc	CMG US		Annual General Meeting
Mead Johnson Nutrition Co	MJN US		Annual General Meeting
Xylem Inc/NY	XYL US		Annual General Meeting

BARCHART

BARCHART MORNING CALL

Wednesday, September 23rd, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ15 +0.31%) rebounded from a 2-week low and are up +0.21% and European stocks recovered from a 4-week low and are up +0.84% after the new orders sub-index in the Eurozone Sep Markit manufacturing PMI rose to a 5-month high, which signals increased production in the coming months. Stocks also found support after a rally in crude oil and copper boosted energy producers and basic-resource companies. Stocks had been weaker and emerging markets closed mostly lower after a gauge of Chinese manufacturing activity unexpectedly fell to its lowest in 6-1/2 years. Asian stocks closed mostly lower: Japan closed for holiday, Hong Kong -2.29%, China -2.19%, Taiwan -2.06%, Australia -2.07%, Singapore-0.79%, South Korea -1.85%, India +0.67%.

The dollar index (DXY00 -0.12%) is down -0.11% as it fall back from a 2-week high. EUR/USD (^EURUSD) is up +0.36% and recovered from a 2-week low after ECB Governing Council member Nowotny said he's wary of expanding QE. USD/JPY (^USDJPY) is up +0.06%.

Dec T-note prices (ZNZ15 -0.13%) are down -7 ticks.

ECB Governing Council member Nowotny said he's wary of increasing QE any time soon and that the question of whether more easing is needed "deserves a much more thorough examination."

The China Sep Caixin manufacturing PMI unexpectedly fell -0.3 to 47.0, weaker than expectations of +0.2 to 47.5 and the steepest pace of contraction in 6-1/2 years.

The Eurozone Sep Markit manufacturing PMI fell -0.3 to 52.0, right on expectations and matched April's reading as the slowest pace of growth in 7 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -7.0% with purchase sub-index -4.2% and refi sub-index -9.1%), (2) prelim-Sep Markit manufacturing PMI (expected -0.2 to 52.8, Aug 53.0), (3) Atlanta Fed President Dennis Lockhart's speech on the economy to the Buckhead Rotary Club in Atlanta, and (4) the Treasury's auction of $35 billion of 5-year T-notes and $13 billion of 2-year floating rate notes.

There is 1 company in the Russell 1000 index that reports earnings today: Lumentum Holdings (consensus $0.20).

U.S. IPO's scheduled to price today include: none.

Equity conferences during the remainder of this week include: Mitsubishi UFJ Securities: Utilities Conference - New York on Thu.

OVERNIGHT U.S. STOCK MOVERS

A.O. Smith (AOS -2.12%) was initiated with a 'Buy' at BB&T with a price target of $80.

Raytheon (RTN -1.18%) was upgraded to 'Outperform' from 'Market Perform' at Bernstein.

Carnival Cruise Lines (CCL -5.49%) was upgraded to 'Buy' from 'Neutral' at Nomura.

Sherwin-Williams (SHW -2.87%) was downgraded to 'Neutral' from 'Buy' at Longbow.

Intel (INTC -1.68%) was upgraded to 'Market Perform' from 'Underperform' at Bernstein.

CarMax (KMX -4.69%) was downgraded to 'Perform' from 'Outperform' at Oppenheimer.

Laredo Petroleum (LPI -0.96%) was downgraded to 'Underperform' from 'Neutral' at BofA/Merrill Lynch.

Cytec Industries (CYT -0.08%) was downgraded to 'Hold' from 'Buy' at Jefferies.

Volkswagen (VLKAY -15.48%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.

Reuters reports that Wells Fargo (WFC -1.67%) is being sued by Oakland, California for "steering" minorities into high-cost mortgages that allegedly led to foreclosures and abandoned properties,

Integrated Core Strategies reported a 4.6% passive stake in WPX Energy (WPX -2.32%) .

Copart (CPRT -2.05%) reported Q4 EPS of 44 cents, higher than consensus of 39 cents.

Heron Therapeutics (HRTX -3.20%) surged 19% in after-hours trading after a Phase 2 study of its HTX-011 drug meets primary endpoint in the management of post-operative pain in patients undergoing bunionectomy.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 +0.31%) this morning are up +4.00 points (+0.21%). Tuesday's closes: S&P 500 -1.23%, Dow Jones -1.09%, Nasdaq -1.43%. The S&P 500 on Tuesday dropped to a 2-week low and closed lower on the unexpected -5 point drop in the Sep Richmond Fed manufacturing survey to -5, weaker than expectations of +2 to 2 and the steepest pace of contraction in 2-1/2 years. In addition, raw-material and energy-producer stocks saw weakness after commodity prices slumped. Meanwhile, biotech and pharmaceutical stocks sold-off after Hillary Clinton said she will propose price caps and research-and-development spending guidelines for the pharmaceutical industry.

Dec 10-year T-notes (ZNZ15 -0.13%) this morning are down -7 ticks. Tuesday's closes: TYZ5 +23.50, FVZ5 +12.00. Dec T-notes on Tuesday rose to a 3-week high and closed higher on reduced inflation expectations after the 10-year T-note breakeven inflation rate fell to a 4-week low, and on increased safe-haven demand for T-notes after the S&P 500 tumbled to a 2-week low.

The dollar index (DXY00 -0.12%) this morning is down -0.103 (-0.11%) as it retreats from a 2-week high. EUR/USD (^EURUSD) is up +0.0040 (+0.35%) as it rebounds from a 2-week low. USD/JPY (^USDJPY) is up +0.07 (+0.06%). Tuesday's closes: Dollar Index +0.389 (+0.41%), EUR/USD -0.0070(-0.63%), USD/JPY -0.41 (-0.34%). The dollar index on Tuesday climbed to a 1-1/2 week high and closed higher on (1) the larger-than-expected increase in July FHFA home prices, which bolsters the case for a Fed interest rate increase, and (2) weakness in EUR/USD which slid to a 2-week low on speculation the ECB may boost stimulus after ECB Executive Board member Praet said that policy makers would "forcefully react" to defend their inflation objective.

Nov crude oil (CLX15 +0.97%) this morning is up +21 cents (+0.45%_ and Nov gasoline (RBX15 +0.16%) is down -0.0033 (-0.24%). Tuesday's closes: CLX5 -0.60 (-1.28%), RBX5 +0.0139 (+1.00%). Nov crude oil and gasoline prices on Tuesday settled mixed. Crude oil prices were undercut by the rally in the dollar index to a 1-1/2 week high, and by news that Iran has cooperated in allowing the IEAE access to Iran's nuclear facilities, which is a critical step towards getting sanctions dropped. Gasoline closed higher on supply concerns after Marathon Oil said it will shut its Catlettsburg, KY, 277,000 bpd refinery for repairs and Northern Tier St. Paul Park said it will close its 90,500 bpd refinery for unplanned repairs.

GLOBAL EVENT CALENDAR09/23/2015

US	0700 ET	Weekly MBA mortgage applications, previous -7.0% with purchase sub-index -4.2% and refi sub-index -9.1%.
	0945 ET	Prelim-Sep Markit manufacturing PMI expected -0.2 to 52.8, Aug 53.0.
	1030 ET	EIA Weekly Petroleum Status Report.
	1130 ET	Treasury auctions $13 billion of 2-year floating rate notes.
	1230 ET	Atlanta Fed President Dennis Lockhart speaks on the economy to the Buckhead Rotary Club in Atlanta.
	1300 ET	Treasury auctions $35 billion of 5-year T-notes.
GER	0330 ET	German Sep Markit/BME manufacturing PMI expected -0.7 to 52.6, Aug 53.3.
	0330 ET	German Sep Markit services PMI expected -0.4 to 54.5, Aug 54.9.
EUR	0400 ET	Eurozone Sep Markit manufacturing PMI expected -0.3 to 52.0, Aug 52.3. Sep Markit composite PMI expected -0.3 to 54.0, Aug 54.3.
	0900 ET	ECB President Mario Draghi delivers introductory statement at the Quarterly Hearing before the Committee on Economic and Monetary Affairs of the European Parliament.
JPN	2135 ET	Japan Sep Nikkei manufacturing PMI expected -0.5 to 51.2, Aug 51.7.

U.S. STOCK CALENDAR09/23/2015

Company	Ticker	Time	Event Description	Period	Estimate
Golar LNG Ltd	GLNG US	8:00	Annual General Meeting	Y 2015
Steel Dynamics Inc	STLD US	9:30	Investor Day	Y 2015
Liberty Broadband Corp	LBRDA US	10:30	Extraordinary Shareholders Meeting	Y 2015
Copart Inc	CPRT US	11:00	Q4 2015 Earnings Call	Q4 2015
Raymond James Financial Inc	RJF US		August 2015 Sales and Revenue Release - Operating Data	2015
Lumentum Holdings Inc	LITE US		Q4 2015 Earnings Release	Q4 2015	0.199

BARCHART MORNING CALL 4/13

BARCHART MORNING CALL

Monday, April 13th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 -0.14%) this morning are down -0.14% as they fell back from a 3-week high ahead of Q1 corporate earnings reports this week. European stocks are up +0.22% at a 6-3/4 year high. Asian stocks settled mixed: Japan -0.01%, Hong Kong +2.73%, China +2.17%, Taiwan +0.51%, Australia -0.14%, Singapore +0.35%, South Korea +0.58%, India +0.57%. China's Shanghai Composite Index climbed to a 7-year high and gave most global bourses a boost on speculation that China may boost stimulus to spur economic growth after China Mar exports unexpectedly declined.
Commodity prices are mixed. May crude oil (CLK15 +1.20%) is up +1.28% and May gasoline (RBK15 +0.76%) is up +0.84% as skepticism among U.S. lawmakers over a nuclear deal with Iran bolstered speculation that an increase in Iranian crude exports may be delayed. Metals prices weakened as the dollar index climbed to a 4-week high. Jun gold (GCM15 -0.45%) is down -0.42%. May copper (HGK15 -0.22%) is unch. Agriculture prices are lower with May corn at a 3-week low, after weekend rains in the U.S. Midwest boosted soil moisture levels ahead of spring plantings.
The dollar index (DXY00 +0.52%) is up +0.60% at a 4-week high and EUR/USD (^EURUSD) is down -0.66% at a 4-week low as the ECB continues its QE program while the Fed readies the markets for an eventual interest rate increase. USD/JPY (^USDJPY) is up +0.36% at a 3-week high.
Jun T-note prices (ZNM15 -0.13%) are down -5 ticks at a 1-1/2 week low after a report Sunday from Morgan Stanley said that the U.S. 10-year T-note yield will rise to 2.40% by year-end as a rebound in economic growth pushes inflation higher.
The China Mar trade balance shrank to a surplus of +$3.08 billion, narrower than expectations of +$40.10 billion and the smallest trade surplus in 13 months. China Mar exports unexpectedly fell -14.6% y/y, weaker than expectations of +8.2% y/y, and China Mar imports fell -12.7% y/y, weaker than expectations of -10.0% y/y.
Japan Mar PPI rose +0.3% m/m and +0.7% y/y, stronger than expectations of -0.1% m/m and +0.4% y/y.
Japan Feb machine orders fell -0.4% m/m and rose +5.9% y/y, stronger than expectations of -2.2% m/m and +4.3% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes (1) the March Treasury budget statement (expected -$43.4 billion vs year-earlier -$36.9 billion).
There are two of the Russell 1000 companies that report earnings today: Commerce Bancshares (consensus $0.58), Ocwen Financial (0.27).
There are no U.S. IPO's that price or trade today.
Equity conferences this week include: Consumer Debt Forum on Mon, World Strategic Forum on Mon-Tue, Cantor Fitzgerald First Annual ETF and Indexing Forum on Wed.

OVERNIGHT U.S. STOCK MOVERS

British Petroleum (BP +0.46%) was downgraded to 'Neutral' from 'Buy' at BofA/Merrill Lynch.
Marathon Oil (MRO +1.43%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill Lynch.
Netflix (NFLX +3.43%) was upgraded to 'Buy' from 'Neutral' at UBS who also raised their price target on the stock to $565 from $370.
Sempra Energy (SRE -0.05%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs with a price target of $130.
Helmerich & Payne (HP -1.15%) was downgraded to 'Hold' from 'Buy' at Jefferies.
Freeport McMoRan (FCX -2.56%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
BHP Billiton (BHP -0.04%) and Rio Tinto (RIO -1.61%) were both downgraded to 'Neutral' from 'Buy' at Citigroup.
UPS (UPS +0.09%) will invest $1.06 billion in a Europe expansion, according to Reuters.
Grainger (GWW -0.06%) may be 10%-20% undervalued, according to a weekend article by Barron's.
Avon (AVP -1.86%) "could still pay off" with a doubling of its stock price in coming years, according to a weekend column by Barron's.
Accenture (ACN -0.82%) may rally by 26% over next three years, according to a weekend article by Barron's.
Newmont Mining (NEM +0.45%) may may rally by 55%, according to a weekend article by Barron's.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.14%) this morning are down -3.00 points (-0.14%). Friday's closes: S&P 500 +0.52%, Dow Jones +0.55%, Nasdaq +0.43%. The S&P 500 index on Friday closed moderately higher and posted a new 2-1/2 week high. The market extended the week's rally as GE returned to its industrial roots by announcing an effective spin-off of GE Capital and as market optimism continues about the recent spate of M&A activity.
Jun 10-year T-notes (ZNM15 -0.13%) this morning are down -5 ticks at a 1-1/2 week low. Friday's closes: TYM5 -1, FVM5 -1.75. June 10-year T-notes on Friday remained on the defensive and closed slightly lower on stock market strength and carry-over pessimism about the poor demand seen for Thursday's 30-year bond auction.
The dollar index (DXY00 +0.52%) this morning is up +0.594 (+0.60%) at a 4-week high. EUR/USD (^EURUSD) is down -0.0070 (-0.66%) at a 4-week low. USD/JPY (^USDJPY) is up +0.43 (+0.36%) at a 3-week high. Friday's closes: Dollar Index +0.19 (+0.19%), EUR/USD -0.0055 (-0.52%), USD/JPY -0.36 (-0.30%). The dollar index on Friday extended the weekly rally and closed just moderately below March’s 12-year high. The dollar continued to see strength on Friday after Wednesday's FOMC minutes noted that "several" FOMC members favored a rate hike as early as June.
May WTI crude oil (CLK15 +1.20%) this morning is up +66 cents (+1.28%). May gasoline (RBK15 +0.76%) is up +0.0151 (+0.84%). Friday's closes: CLK5 +0.85 (+1.67%), RBK5 +0.0481 (+2.73%). May crude oil and gasoline on Friday closed moderately higher on some continued short-covering after Wednesday's 6% plunge. Crude oil prices on Wednesday plunged on the +10.95 million bbl surge in EIA U.S. crude oil inventories and on doubts about an Iranian nuclear agreement after Iran Supreme Leader Khamenei insisted that sanctions would have to be dropped immediately upon a final nuclear agreement, not phased in as the preliminary agreement contemplated.

GLOBAL EVENT CALENDAR04/13/2015

US	1100 ET	USDA weekly grain export inspections.
	1400 ET	March Treasury budget statement expected -$43.4 billion, year-earlier -$36.9 billion.
	1600 ET	USDA weekly crop progress.
UK	1901 ET	UK Mar BRC sales like-for-like, Feb +0.2% y/y.

U.S. STOCK CALENDAR04/13/2015

Company	Ticker	Time	Event Description	Period	Estimate
Commerce Bancshares Inc/MO	CBSH US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.579
Laredo Petroleum Inc	LPI US	14:30	Analyst Meeting	Y 2015
Goodyear Tire & Rubber Co/The	GT US		Annual General Meeting
Ocwen Financial Corp	OCN US		Q4 2014 Earnings Release	Q4 2014	0.269

Barchart Morning Call 9/17

Barchart Morning Call

Tuesday, September 17th, 2013View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ13 -0.10%) this morning are down -0.13% and European stocks are down -0.34%. Asian stocks closed mostly lower: Japan -0.65%, Hong Kong -0.31%, China -2.06%, Taiwan -0.07%, Australia +0.06%, Singapore +0.05%, South Korea -0.49%, India +0.31%. Asian stocks slid after foreign direct investment in China trailed estimates, while U.S. stocks fell back ahead of the start of the 2-day FOMC meeting later today. European stocks failed to garner much support from the jump in German investor confidence to a 3-1/3 year high. Commodity prices are mixed. Oct crude oil (CLV13 -0.20%) is down -0.39% at a 2-week low and Oct gasoline (RBV13 +0.04%) is down -0.10% at a 5-week low. Dec gold (GCZ13 +0.30%) is up +0.09% and Dec copper (HGZ13 unch) is down -0.02%. Agricultural prices are higher and livestock prices are lower. The dollar index (DXY00 -0.18%) is down -0.18%. EUR/USD (^EURUSD) is up +0.19% and USD/JPY (^USDJPY) is unch. December T-note prices (ZNZ13 +0.18%) are up +9 ticks.
The German Sep ZEW survey of expectations of economic growth rose +7.0 from Aug to 49.6, stronger than expectations of +3.0 to 45.0 and the highest in 3-1/3 years. The Sep ZEW survey current situation rose +12.3 from Aug to 30.6, stronger than expectations of +1.7 to 20.0 and the highest in 15-months.
UK Aug PPI input prices fell -0.2% m/m and rose +2.8% y/y, weaker than expectations of +0.2% m/m and +3.0% y/y. Aug PPI output prices rose +0.1% m/m and +1.6% y/y, smaller increases than expectations of +0.2% m/m and +1.8% y/y. Aug PPI output core prices were unchanged m/m and +1.0% y/y, weaker than expectations of +0.1% m/m and +1.1% y/y.
UK Aug CPI rose +0.4% m/m and +2.7% y/y, close to expectations of +0.5% m/m and +2.7% y/y. Aug core CPI rose +2.0% y/y, a smaller increase than expectations of +2.1% y/y. The Aug RPI rose +0.5% m/m and +3.3% y/y, bigger increases than expectations of +0.4% m/m and +3.2% y/y. Aug RPI ex-mortgage interest payments rose +3.3% y/y, stronger than expectations of +3.2% y/y.
China Aug foreign direct investment rose +0.6% y/y, much weaker than expectations of +12.5% y/y.

U.S. STOCK PREVIEW

The FOMC today begins its 2-day meeting. The FOMC will announce its decision tomorrow and Fed Chairman Bernanke will give a news conference tomorrow as well. The market consensus is that the FOMC tomorrow will announce a $10 billion cut in its $85 billion per month QE3 program to $75 billion. Today’s Aug CPI report is expected to ease to +1.6% y/y from +2.0% y/y in July. Meanwhile, the Aug core CPI is expected to edge higher to +1.8% y/y from +1.7% in July. Today’s Sep NAHB housing market index is expected to show a small -1 point decline to 58, reversing part of the +3 point increase to August’s 7-3/4 year high of 59. There are two of the Russell 1000 companies that report earnings today: FactSet (consensus $1.19) and Adobe Systems (0.34).
Equity conferences during the remainder of this week include: Morgan Stanley Industrials & Autos Conference on Mon-Wed, Capital Link Global Commodities Energy Freight Forum on Tue, Home Delivery World 2013 on Tue, Citi Global Industrials Conference on Tue-Wed, RBC Capital Markets Financial Institutions Conference on Tue-Wed, Credit Suisse Chemical & Ag Science Conference on Tue-Thu, BMO Capital Markets North American Real Estate Conference on Wed, Jefferies Advanced Analytics & Big Data Intelligence Summit on Wed, Mitsubishi UFJ Securities-Utility Corporate Access Day on Wed, 28th International Aluminum Conference on Wed-Thu, UBS Houston Energy Symposium on Wed-Thu, Credit Suisse Global Mining & Steel Conference on Thu, Mitsubishi UFJ Securities- Industrials Corporate Access Day on Thu.

OVERNIGHT U.S. STOCK MOVERS

ConAgra (CAG +0.66%) was downgraded to "Neutral" from "Overweight" at JPMorgan.
Kellogg (K +0.56%) was downgraded to "Underweight" from "Neutral" at JPMorgan.
US Airways (LCC +1.12%) and Delta Air Lines (DAL +3.03%) were both pgraded to "Overweight" from "Neutral" at JPMorgan.
Verizon (VZ +1.13%) was upgraded to "Outperform" from "Sector Perform" at RBC Capital.
The WSJ report that JPMorgan (JPM +1.05%) is expected to pay $800 million in 'London Whale' fines.
Fifth Third Bancorp (FITB +0.60%) was downgraded to "Neutral" from "Buy" at Goldman.
Huntsman (HUN -0.67%) will acquire Rockwood (ROC +0.94%) TiO2 business for $1.1 billion.
Chico's FAS (CHS +1.98%) was upgraded to "Buy" from "Hold" at KeyBanc.
Altria Group (MO +0.83%) raised guidance on fiscal 2013 EPS view to $2.57-$2.62 from $2.51-$2.56, well above consensus of $2.39.
Pandora (P unch) filed to sell 14 million shares of common stock.
Outerwall (OUTR -2.32%) plunged over 17% in after-hours trading after it lowered guidance on fiscal 2013 EPS view to $4.72-$5.12 from $5.76-$6.26, well below consensus of $5.91.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ13 -0.10%) this morning are down -2.25 points (-0.13%). The S&P 500 index on Monday gapped up to a 1-1/4 month high and closed higher. Bullish factors included (1) former Treasury Secretary Summers’ withdrawal from consideration as the next Fed Chairman, which bolstered speculation that Janet Yellen will get the job and she will maintain the Fed’s easy monetary policies and be less aggressive in tapering QE3, and (2) reduced threats of an imminent U.S. military attack on Syria after U.S. Secretary of State Kerry and Russian Foreign Minister Lavrov agreed on a framework for locating and destroying Syria’s stockpiles of chemical weapons. Closes: S&P 500 +0.57%, Dow Jones +0.77%, Nasdaq 100 -0.30%.
Dec 10-year T-notes (ZNZ13 +0.18%) this morning are up +9 ticks. Dec 10-year T-note prices on Monday gapped up to a 1-month high and the 10-year T-note yield fell to a 2-week low on speculation that Fed Vice Chair Janet Yellen will be the next Fed chairman and will withdraw stimulus more slowly than former Treasury Secretary Summers would have done. Other bullish factors include (1) the unexpected decline in the Sep Empire manufacturing index (-1.9 to 6.3), and (2) the smaller-than-expected +0.4% in Aug industrial production (vs expectations of +0.5%). Closes: TYZ3 +13.50, FVZ3 +12.50.
The dollar index (DXY00 -0.18%) this morning is down -0.144 (-0.18%). EUR/USD (^EURUSD) is up +0.0026 (+0.19%) and USD/JPY (^USDJPY) is unch. The dollar index on Monday dropped to a 2-week low and closed lower on former Treasury Secretary Summers’ rejection of consideration of the Fed chairmanship. Mr. Summers famously questioned the efficacy of quantitative easing and probably would have ended QE3 faster than Fed Vice Chair Janet Yellen. Closes: Dollar index -0.157 (-0.19%), EUR/USD +.00356 (+0.27%), USD/JPY -0.319 (-0.32%).
Oct WTI crude oil (CLV13 -0.20%) this morning is down -42 cents (-0.39%) at a 2-week low and Oct gasoline (RBV13 +0.04%) is down -0.0026 (-0.10%) at a 5-week low. Oct crude oil and gasoline prices on Monday closed lower with Oct crude at a 2-week low. The main bearish factor for crude prices was the reduced threat of an imminent U.S. attack on Syria after U.S. Secretary of State Kerry and Russian Foreign Minister Lavrov over the weekend agreed on a framework for locating and destroying Syria’s stockpiles of chemical weapons by mid-2014. Crude prices climbed from their worst levels after the dollar index fell to a 2-week low and the S&P 500 rallied to a 1-1/4 month high. Closes: CLV3 -1.62 (-1.50%), RBV3 -0.0530 (-1.91%).

GLOBAL EVENT CALENDAR09/17/2013

US	0815 ET	U.S. Treasury Secretary Jacob Lew speaks at the Economic Club of Washington on The state of the U.S. economy and the need for Washington to avoid self-inflicted wounds that could impede economic growth.
	0830 ET	Aug CPI expected +0.2% m/m and +1.6% y/y, July +0.2% m/m and +2.0% y/y. Aug CPI ex food & energy expected +0.1% m/m and +1.8% y/y, July +0.2% m/m and +1.7% y/y.
	1000 ET	Sep NAHB housing market index expected -1 to 58, Aug +3 to 59.
	1000 ET	CBO releases federal budget outlook.
	1030 ET	FOMC begins 2-day meeting.
	1630 ET	API weekly U.S. oil statistics.
EUR	0200 ET	Eurozone Aug new car registrations, July -5.6%.
	0500 ET	Eurozone July trade balance expected +15.0 billion euros, Jun +14.9 billion euros.
UK	0430 ET	UK Aug PPI input prices expected +0.2% m/m and +3.0% y/y, July +1.1% m/m and +5.0% y/y. Aug PPI output prices expected +0.2% m/m and +1.8% y/y, July +0.2% m/m and +2.1% y/y. Aug PPI core output prices expected +0.1% m/m and +1.1% y/y, July +0.1% m/m and +1.1% y/y.
	0430 ET	UK Aug CPI expected +0.5% m/m and +2.7% y/y, July unch m/m and +2.8% y/y. Aug core CPI expected +2.1% y/y, July +2.0% y/y.
	0430 ET	UK Aug RPI expected +0.4% m/m and +3.2% y/y, July unch m/m and +3.1% y/y. Aug RPI ex-mortgage interest payments expected +3.2% y/y, July +3.2% y/y.
GER	0500 ET	German Sep ZEW survey expectations of economic growth expected +3.0 to 45.0, Aug 42.0. Sep ZEW survey current situation expected +1.7 to 20.0. Aug 18.3.
CHI	2130 ET	China Aug property prices.

U.S. STOCK CALENDAR09/17/2013

Company Name	Ticker	Time	Event Description	Period	Estimate
FactSet Research Systems Inc	FDS US	Bef-mkt	Q4 2013 Earnings Release	Q4 2013	1.19
BioMarin Pharmaceutical Inc	BMRN US	8:00	Research and Development Day	Y 2013
Laredo Petroleum Holdings Inc	LPI US	8:30	Investor Meeting	Y 2013
Cummins Inc	CMI US	9:00	Analyst Day	Y 2013
Reliance Steel & Aluminum Co	RS US	9:30	Analyst & Investor Day	Y 2013
Adobe Systems Inc	ADBE US	Aft-mkt	Q3 2013 Earnings Release	Q3 2013	0.337

Barchart Morning Call 3/12

BARCHART MORNING CALL 3/12

Tuesday, March 12th, 2013View 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

US	1300 ET	Treasury sells $32 billion in 3-year T-notes.
	n/a	House Budget Committee Chairman Paul Ryan releases his fiscal 2014 budget proposal.
	1400 ET	Feb monthly budget statement expected -$220 bln.
	1630 ET	API weekly U.S. oil statistics.
JPN	0100 ET	Japan Feb consumer confidence expected 43.0, Jan 43.3.
GER	0300 ET	German final-Feb CPI (EU harmonized) expected unrevised from preliminary +0.6% m/m and +1.8% y/y.
	0300 ET	German Feb wholesale price index, Jan +0.3% m/m and +2.3% y/y.
UK	0530 ET	U.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 ET	UK 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 ET	U.K. Feb NIESR GDP estimate, Jan 0.0%.

U.S. STOCK CALENDAR03/12/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
Laredo Petroleum Holdings Inc	LPI US	Bef-mkt	Q4 2012 Earnings Release	Q4 2012	0.102
WW Grainger Inc	GWW US	8:00	February 2013 Sales and Revenue Call	2013
WW Grainger Inc	GWW US	8:00	February 2013 Sales and Revenue Release	2013
Discover Financial Services	DFS US	8:30	Financial Community Briefing	Y 2013
Chevron Corp	CVX US	9:00	Analyst Meeting	Y 2013
Laredo Petroleum Holdings Inc	LPI US	10:00	Q4 2012 Earnings Call	Q4 2012
Costco Wholesale Corp	COST US	11:00	Q2 2013 Earnings Call	Q2 2013
NextEra Energy Inc	NEE US	13:00	Investor Conference	Y 2013
Thoratec Corp	THOR US	13:00	Annual & Extraordinary General Meeting	Y 2012
Toro Co/The	TTC US	14:30	Annual General Meeting	Y 2013
Engility Holdings Inc	EGL US	17:00	Q4 2012 Earnings Call	Q4 2012
Engility Holdings Inc	EGL US	Aft-mkt	Q4 2012 Earnings Release	Q4 2012	0.495
Costco Wholesale Corp	COST US		Q2 2013 Earnings Release	Q2 2013	1.057
JDS Uniphase Corp	JDSU US		Analyst Meeting	Y 2013