Showing posts with label LSI. Show all posts
Showing posts with label LSI. Show all posts

Thursday, April 24, 2014

BARCHART MORNING CALL 4/24

OVERNIGHT MARKETS AND NEWS
June E-mini S&Ps (ESM14 +0.31%) this morning are up +0.41% and European stocks are up +0.83% at 2-week highs after earnings results from Apple and Facebook beat analysts’ estimates. Another positive for European equities is the unexpected increase in German Apr IFO business confidence. Ukraine troops stepped up an offensive as they entered the eastern Ukraine town of Slovyansk and killed five pro-Russian separatists, while Russian President Putin said the use of force by Ukraine would have consequences. Asian stocks closed mixed: Japan -0.97%, Hong Kong +0.24%, China -0.19%, Taiwan -0.13%, Australia +0.24%, Singapore +0.80%, South Korea -0.05%, India closed for holiday. Commodity prices are mixed. Jun crude oil (CLM14 +0.35%) is up +0.41%. Jun gasoline (RBM14 +0.08%) is up +0.02%. Jun gold (GCM14 -0.81%) is down -0.58%. May copper (HGK14 +0.98%) is up +1.11% at a 1-1/2 month high after LME copper inventories tumbled -1,025 MT to a 17-1/2 month low. Agriculture and livestock prices are mixed. The dollar index (DXY00 -0.05%) is down -0.06%. EUR/USD (^EURUSD) is up +0.04%. USD/JPY (^USDJPY) is down -0.08%. June T-note prices (ZNM14 -0.09%) are down -4.5 ticks.
ECB President Draghi said that any worsening of the medium-term outlook for inflation in the Eurozone "would be the context for a more broad-based asset purchase program."
The ECB reported that excess liquidity in the Eurozone financial system today declined to 92.9 billion euros, the lowest level since December, 2011. This may increase pressure on the ECB to expand its stimulus measures.
The German Apr IFO business climate unexpectedly rose +0.5 to 111.2, better than expectations of -0.3 to 110.4. Apr IFO current assessment rose +0.1 to 115.3, less than expectations of +0.4 to 115.6 but still the highest in 2 years. Apr IFO expectations unexpectedly rose +0.9 to 107.3, better than expectations of -0.6 to 105.8.
UK Apr CBI reported sales jumped +17 to 30, much better than expectations of +4 to 17
The Japan Mar corporate services price index rose +0.7% y/y, right on expectations.
U.S. STOCK PREVIEW
Today’s weekly initial unemployment claims report is expected to show an increase of +11,000 to 315,000, adding to last week’s increase of +2,000 to 304,000. Meanwhile, continuing claims are expected to show an increase of +6,000 to 2.745 million after last week’s decline of -11,000 to 2.739 million. Today’s March durable goods orders report is expected to be solid with a headline increase of +2.0% and a +0.6% increase ex-transportation. That would follow the Feb report of +2.2% and +0.1% ex-transportation. The Treasury today will sell $29 billion of 7-year T-notes, concluding this week’s $96 billion T-note package.
There are 64 of the S&P 500 companies that report earnings today. Notable reports include Microsoft (consensus 0.63), Amazon ($0.23), Visa (2.18), UPS (1.08), Caterpillar (1.23), Starbucks (0.56), Verizon (0.87), Time Warner (1.67), GM (0.04), Nasdaq (0.71). There are no equity conferences during the remainder of this week.


OVERNIGHT U.S. STOCK MOVERS
Aetna (AET +0.29%) reported Q1 EPS of $1.98, well above consensus of $1.55.
Time Warner Cable (TWC +1.04%) reported Q1 EPS of $1.78, higher than consensus of $1.67.
Texas Instruments (TXN unch) reported Q1 EPS with items of 44 cents, higher than consensus of 41 cents.
Lam Research (LRCX unch) reported Q3 adjusted EPS of $1.26, better than consensus of $1.17.
Apple (AAPL -1.31%) jumped over 7% in after-hours trading after it reported Q2 EPS of $11.62, well above consensus of $10.18, and announced a 7-for-1 stock split.
Cheesecake Factory (CAKE -2.50%) reported Q1 adjusted EPS of 43 cents, below consensus of 49 cents, and then lowered guidance on fiscal 2014 EPS to $2.24-$2.33, below consensus of $2.36.
Flowserve (FLS -0.74%) reported Q1 EPS of 78 cents, better than consensus of 75 cents.
E-Trade (ETFC unch) reported Q1 EPS of 33 cents, higher than consensus of 23 cents.
Assurant (AIZ +0.36%) reported Q1 adjusted EPS of $1.68, stronger than consensus of $1.54.
Safeway (SWY -0.21%) reported Q1 EPS of 6 cents, well below consensus of 18 cents.
Chicago Bridge & Iron (CBI -0.88%) reported Q1 adjusted EPS of 87 cents, weaker than consensus of $1.10.
LSI Corporation (LSI +0.09%) reported Q1 EPS of 17 cents, better than consensus of 15 cents.
United Stationers (USTR +0.34%) reported Q1 adjusted EPS of 56 cents, weaker than consensus of 57 cents.
Stryker (SYK -0.44%) reported Q1 adjusted EPS of $1.06, below consensus of $1.08.
Facebook (FB -2.65%) rose over 5% in pre-market trading after it reported Q1 EPS of 34 cents, well above consensus of 24 cents.
Qualcomm (QCOM unch) reported Q2 adjusted EPS of $1.31, better than consensus of $1.22, and raised guidance on fiscal 2014 adjusted EPS view to $5.05-$5.25 from $5.00-$5.20.
MARKET COMMENTS
June E-mini S&Ps (ESM14 +0.31%) this morning are up +7.75 points (+0.41%) at a 2-week high. The S&P 500 index on Wednesday closed lower. Bearish factors included (1) the unexpected -14.5% slide in U.S. Mar new home sales to an 8-month low of 384,000, weaker than expectations of a +2.3% increase to 450,000, and (2) concern over Chinese economic growth after the China Apr HSBC manufacturing PMI rose +0.3 to 48.3, the fourth month that manufacturing activity in China has contracted. Closes: S&P 500 -0.22%, Dow Jones -0.08%, Nasdaq -0.88%.
Jun 10-year T-notes (ZNM14 -0.09%) this morning are down -4.5 ticks. Jun 10-year T-note futures prices on Wednesday closed higher. Bullish factors included (1) the unexpected drop in U.S. Mar new home sales to the lowest in 8 months, and (2) increased safe-haven demand for T-notes on concern that tensions in Ukraine may escalate after Ukraine's First Deputy Prime Minister said that the country's security forces are seeking to eliminate all pro-Russian militias operating in the eastern part of the country. Closes: TYM4 +10.50, FVM4 +6.00.
The dollar index (DXY00 -0.05%) this morning is down -0.048 (-0.06%). EUR/USD (^EURUSD) is up +0.0005 (+0.04%). USD/JPY (^USDJPY) is down -0.08 (-0.08%). The dollar index on Wednesday closed lower. Negative factors included (1) the unexpected slide in U.S. Mar new home sales to the lowest in 8 months, and (2) strength in EUR/USD after the Eurozone Apr Markit composite PMI unexpectedly rose +0.9 to 54.0, better than expectations of -0.1 to 53.0 and the fastest pace of expansion in 2-3/4 years. Closes: Dollar index -0.041 (-0.05%), EUR/USD +0.00117 (+0.08%), USD/JPY -0.077 (-0.08%).
Jun WTI crude oil (CLM14 +0.35%) this morning is up +42 cents (+0.41%) and Jun gasoline (RBM14 +0.08%) is up +0.0006 (+0.02%). Jun crude and gasoline prices on Wednesday closed lower with Jun crude oil at a 2-week low. Bearish factors included (1) the +3.524 million bbl increase in weekly EIA crude inventories to 397.659 million bbl, the most since EIA data began in 1982, and (2) the +0.7% increase in U.S. crude oil production for the week ended Apr 18 to a 26-yr high of 8.36 million bpd. Declines in crude were limited after crude inventories at Cushing, OK, the delivery point of WTI futures, fell -788,000 bbl to a 4-1/2 yr low of 26.04 million bbl. Closes: CLM4 -0.31 (-0.30%). RBM4 -0.0042 (-0.14%).
GLOBAL EVENT CALENDAR04/24/2014
US0830 ETWeekly initial unemployment claims expected +11,000 to 315,000, previous +2,000 to 304,000. Weekly continuing claims expected +6,000 to 2.745 million, previous -11,000 to 2.739 million.
0830 ETMar durable goods orders expected +2.0% and +0.6% ex transportation, Feb +2.2% and +0.1% ex transportation. March non-defense capital goods orders ex-aircraft expected +1.0%, Feb -1.4%.
0830 ETUSDA weekly Export Sales.
1100 ETTreasury announces amount of 2-year floating-rate notes to be auctioned Apr 29 (previous $13 billion).
1300 ETTreasury auctions $29 billion 7-year T-notes.
GER0400 ETGerman Apr IFO business climate expected -0.3 to 110.4 Mar 110.7. Apr IFO current assessment expected +0.4 to 115.6, Mar 115.2. Apr IFO expectations expected -0.6 to 105.8, Mar 106.4.
EUR0500 ETECB President Mario Draghi speaks at a conference in Amsterdam.
UK0600 ETUK Apr CBI reported sales expected +4 to 17, Mar 13.
JPN1930 ETJapan Mar national CPI expected +1.6% y/y, Feb +1.5% y/y. Mar national CPI ex-fresh food expected +1.4% y/y, Feb +1.3% y/y. Mar national CPI ex food & energy expected +0.7% y/y, Feb +0.8% y/y.
1930 ETJapan Apr Tokyo CPI expected +3.1% y/y, Mar +1.3% y/y. Apr Tokyo CPI ex-fresh food expected +2.8% y/y, Mar +1.0% y/y. Apr Tokyo CPI ex food & energy expected +2.1% y/y, Mar +0.4% y/y.
U.S. STOCK CALENDAR04/24/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Mead Johnson Nutrition CoMJN USBef-mktQ1 2014 Earnings ReleaseQ1 20140.913
Noble Energy IncNBL USBef-mktQ1 2014 Earnings ReleaseQ1 20140.748
Nucor CorpNUE USBef-mktQ1 2014 Earnings ReleaseQ1 20140.376
Diamond Offshore Drilling IncDO USBef-mktQ1 2014 Earnings ReleaseQ1 20140.652
Nielsen Holdings NVNLSN USBef-mktQ1 2014 Earnings ReleaseQ1 20140.414
PulteGroup IncPHM USBef-mktQ1 2014 Earnings ReleaseQ1 20140.203
Bemis Co IncBMS USBef-mktQ1 2014 Earnings ReleaseQ1 20140.565
T Rowe Price Group IncTROW USBef-mktQ1 2014 Earnings ReleaseQ1 20141.036
Cabot Oil & Gas CorpCOG USBef-mktQ1 2014 Earnings ReleaseQ1 20140.262
AmerisourceBergen CorpABC USBef-mktQ2 2014 Earnings ReleaseQ2 20141.004
SCANA CorpSCG USBef-mktQ1 2014 Earnings ReleaseQ1 20141.148
Wyndham Worldwide CorpWYN USBef-mktQ1 2014 Earnings ReleaseQ1 20140.745
DR Horton IncDHI USBef-mktQ2 2014 Earnings ReleaseQ2 20140.337
Waste Management IncWM USBef-mktQ1 2014 Earnings ReleaseQ1 20140.446
Coca-Cola Enterprises IncCCE USBef-mktQ1 2014 Earnings ReleaseQ1 20140.441
Stanley Black & Decker IncSWK USBef-mktQ1 2014 Earnings ReleaseQ1 20140.964
Lorillard IncLO USBef-mktQ1 2014 Earnings ReleaseQ1 20140.719
Quest Diagnostics IncDGX USBef-mktQ1 2014 Earnings ReleaseQ1 20140.881
Time Warner Cable IncTWC USBef-mktQ1 2014 Earnings ReleaseQ1 20141.674
Entergy CorpETR USBef-mktQ1 2014 Earnings ReleaseQ1 20142.288
EQT CorpEQT USBef-mktQ1 2014 Earnings ReleaseQ1 20140.887
Peabody Energy CorpBTU USBef-mktQ1 2014 Earnings ReleaseQ1 20140.007
Helmerich & Payne IncHP USBef-mktQ2 2014 Earnings ReleaseQ2 20141.48
Hershey Co/TheHSY USBef-mktQ1 2014 Earnings ReleaseQ1 20141.143
Sigma-Aldrich CorpSIAL USBef-mktQ1 2014 Earnings ReleaseQ1 20141.032
Celgene CorpCELG USBef-mktQ1 2014 Earnings ReleaseQ1 20141.649
General Motors CoGM USBef-mktQ1 2014 Earnings ReleaseQ1 20140.041
Delphi Automotive PLCDLPH USBef-mktQ1 2014 Earnings ReleaseQ1 20141.087
Eli Lilly & CoLLY USBef-mktQ1 2014 Earnings ReleaseQ1 20140.705
Starwood Hotels & Resorts Worldwide IncHOT US6:00Q1 2014 Earnings ReleaseQ1 20140.562
Aetna IncAET US6:00Q1 2014 Earnings ReleaseQ1 20141.552
Alexion Pharmaceuticals IncALXN US6:30Q1 2014 Earnings ReleaseQ1 20141.264
Southwest Airlines CoLUV US6:30Q1 2014 Earnings ReleaseQ1 20140.165
Altria Group IncMO US7:00Q1 2014 Earnings ReleaseQ1 20140.568
Raytheon CoRTN US7:00Q1 2014 Earnings ReleaseQ1 20141.766
NASDAQ OMX Group Inc/TheNDAQ US7:00Q1 2014 Earnings ReleaseQ1 20140.711
3M CoMMM US7:30Q1 2014 Earnings ReleaseQ1 20141.796
Zimmer Holdings IncZMH US7:30Q1 2014 Earnings ReleaseQ1 20141.467
Verizon Communications IncVZ US7:30Q1 2014 Earnings ReleaseQ1 20140.869
Caterpillar IncCAT US7:30Q1 2014 Earnings ReleaseQ1 20141.23
Cameron International CorpCAM US7:30Q1 2014 Earnings ReleaseQ1 20140.715
United Parcel Service IncUPS US7:45Q1 2014 Earnings ReleaseQ1 20141.08
Zimmer Holdings IncZMH US8:00Q1 2014 Earnings CallQ1 2014
Stanley Black & Decker IncSWK US8:00Q1 2014 Earnings CallQ1 2014
Freeport-McMoRan Copper & Gold IncFCX US8:00Q1 2014 Earnings ReleaseQ1 20140.42
NASDAQ OMX Group Inc/TheNDAQ US8:00Q1 2014 Earnings CallQ1 2014
Assurant IncAIZ US8:00Q1 2014 Earnings CallQ1 2014
Pfizer IncPFE US8:30Annual General MeetingY 2014
Nielsen Holdings NVNLSN US8:30Q1 2014 Earnings CallQ1 2014
PulteGroup IncPHM US8:30Q1 2014 Earnings CallQ1 2014
Verizon Communications IncVZ US8:30Q1 2014 Earnings CallQ1 2014
Wyndham Worldwide CorpWYN US8:30Q1 2014 Earnings CallQ1 2014
CMS Energy CorpCMS US8:30Q1 2014 Earnings ReleaseQ1 20140.724
Quest Diagnostics IncDGX US8:30Q1 2014 Earnings CallQ1 2014
Time Warner Cable IncTWC US8:30Q1 2014 Earnings CallQ1 2014
Equifax IncEFX US8:30Q1 2014 Earnings CallQ1 2014
Hershey Co/TheHSY US8:30Q1 2014 Earnings CallQ1 2014
United Parcel Service IncUPS US8:30Q1 2014 Earnings CallQ1 2014
Aetna IncAET US8:30Q1 2014 Earnings CallQ1 2014
3M CoMMM US9:00Q1 2014 Earnings CallQ1 2014
Altria Group IncMO US9:00Q1 2014 Earnings CallQ1 2014
Raytheon CoRTN US9:00Q1 2014 Earnings CallQ1 2014
CMS Energy CorpCMS US9:00Q1 2014 Earnings CallQ1 2014
Celgene CorpCELG US9:00Q1 2014 Earnings CallQ1 2014
Delphi Automotive PLCDLPH US9:00Q1 2014 Earnings CallQ1 2014
Eli Lilly & CoLLY US9:00Q1 2014 Earnings CallQ1 2014
Mead Johnson Nutrition CoMJN US9:30Q1 2014 Earnings CallQ1 2014
Cabot Oil & Gas CorpCOG US9:30Q1 2014 Earnings CallQ1 2014
Cameron International CorpCAM US9:30Q1 2014 Earnings CallQ1 2014
Noble Energy IncNBL US10:00Q1 2014 Earnings CallQ1 2014
Diamond Offshore Drilling IncDO US10:00Q1 2014 Earnings CallQ1 2014
Bemis Co IncBMS US10:00Q1 2014 Earnings CallQ1 2014
T Rowe Price Group IncTROW US10:00Annual General MeetingY 2014
Regions Financial CorpRF US10:00Annual General MeetingY 2014
Caterpillar IncCAT US10:00Q1 2014 Earnings CallQ1 2014
Alexion Pharmaceuticals IncALXN US10:00Q1 2014 Earnings CallQ1 2014
DR Horton IncDHI US10:00Q2 2014 Earnings CallQ2 2014
Waste Management IncWM US10:00Q1 2014 Earnings CallQ1 2014
Coca-Cola Enterprises IncCCE US10:00Q1 2014 Earnings CallQ1 2014
Freeport-McMoRan Copper & Gold IncFCX US10:00Q1 2014 Earnings CallQ1 2014
CenterPoint Energy IncCNP US10:00Annual General MeetingY 2014
General Motors CoGM US10:00Q1 2014 Earnings CallQ1 2014
Johnson & JohnsonJNJ US10:00Annual General MeetingY 2014
Crown Castle International CorpCCI US10:30Q1 2014 Earnings CallQ1 2014
EQT CorpEQT US10:30Q1 2014 Earnings CallQ1 2014
Starwood Hotels & Resorts Worldwide IncHOT US10:30Q1 2014 Earnings CallQ1 2014
Broadcom CorpBRCM USAft-mktQ1 2014 Earnings ReleaseQ1 20140.457
Newmont Mining CorpNEM USAft-mktQ1 2014 Earnings ReleaseQ1 20140.194
Republic Services IncRSG USAft-mktQ1 2014 Earnings ReleaseQ1 20140.444
Visa IncV USAft-mktQ2 2014 Earnings ReleaseQ2 20142.181
Chubb Corp/TheCB USAft-mktQ1 2014 Earnings ReleaseQ1 20141.56
Amazon.com IncAMZN USAft-mktQ1 2014 Earnings ReleaseQ1 20140.228
Stericycle IncSRCL USAft-mktQ1 2014 Earnings ReleaseQ1 20140.987
PerkinElmer IncPKI USAft-mktQ1 2014 Earnings ReleaseQ1 20140.437
Starbucks CorpSBUX USAft-mktQ2 2014 Earnings ReleaseQ2 20140.557
Microsoft CorpMSFT USAft-mktQ3 2014 Earnings ReleaseQ3 20140.63
Cerner CorpCERN USAft-mktQ1 2014 Earnings ReleaseQ1 20140.371
Cincinnati Financial CorpCINF USAft-mktQ1 2014 Earnings ReleaseQ1 20140.544
Leggett & Platt IncLEG USAft-mktQ1 2014 Earnings ReleaseQ1 20140.378
Masco CorpMAS USAft-mktQ1 2014 Earnings ReleaseQ1 20140.175
Baker Hughes IncBHI USAnnual General Meeting
SCANA CorpSCG USAnnual General Meeting
Edison InternationalEIX USAnnual General Meeting
Snap-on IncSNA USAnnual General Meeting
Intuitive Surgical IncISRG USAnnual General Meeting
Ameren CorpAEE USAnnual General Meeting
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Monday, March 17, 2014

BARCHART MORNNG CALL 3/17

OVERNIGHT MARKETS AND NEWS
June E-mini S&Ps (ESM14 +0.53%) this morning are up +0.52% as they rebound from a 3-week low, and European stocks are up +0.78% on increased M&A activity after Vodaphone Group Plc, the world's second-biggest carrier, agreed to buy Spanish cable operator Grupo Corporativo Ono SA for 7.2 billion euros ($10 billion), and after Allianz SE, Europe's biggest insurer, agreed to spend 440 million euros buying assets from Unipol Gruppo Finanziario SpA. European stock rose despite Sunday's referendum vote In Crimea where 97% of voters opted to secede from Ukraine. The EU said "the referendum is illegal and illegitimate and its outcome will not be recognized." Russia has deployed about 60,000 troops along the Ukrainian border according to the Ukrainian government, which also said it closed border crossings to Russia and will mobilize as many as 15,000 volunteers in the next 2-weeks to defend the nation. Russia's Micex Stock Index rose 2.3% on reduced concern that the Crimean vote to leave Ukraine will not lead to an immediate increase in tensions between Russia and the West. Asian stocks closed mixed: Japan -0.35%, Hong Kong -0.30%, China +0.95%, Taiwan +0.14%, Australia -0.22%, Singapore +0.60%, South Korea +0.45%, India closed for holiday. Commodity prices are mixed. Apr crude oil (CLJ14 -0.20%) is down -0.23%. Apr gasoline (RBJ14 -0.55%) is down -0.46%. Apr gold (GCJ14 -0.08%) is up +0.10% at a 6-1/4 month high after the referendum in Crimea to leave Ukraine and join Russia boosted safe-haven demand for precious metals. May copper (HGK14 +0.83%) is up +0.58%. Agriculture prices are weaker. The dollar index (DXY00 +0.09%) is up +0.06%. EUR/USD (^EURUSD) is down -0.11% after Eurozone Feb CI was revised lower, which may keep the pressure on the ECB to provide additional stimulus to fight deflation risks. USD/JPY (^USDJPY) is up +0.41%. June T-note prices (ZNM14 -0.23%) are down -8 ticks.
Eurozone Feb CPI rose +0.3% m/m, less than expectations of +0.4% m/m, while on an annual basis Feb CPI was revised unexpectedly lower to +0.7% y/y from the originally reported +0.8% y/y and matched the Oct 2013 gain as the smallest year-over-year increase in 4-1/4 years. Feb core CPI was left unrevised at +1.0% y/y.
China's yuan fell to 6.1818 per dollar, the weakest in 11-months, after the PBOC widened the yuan's daily trading band to trade as much as 2% on either side of the reference rate, compared with the previous limit of 1%.
U.S. STOCK PREVIEW
The main item on this week’s agenda will be whether Russia starts to annex Crimea and makes any further military moves in Ukraine and the sanctions response from the U.S. and Europe. Today’s Feb industrial production report is expected to show an increase of +0.2%, reversing most of the -0.3% decline seen in January. Today’s March Empire manufacturing index is expected to show a +2.5 point increase to 7.0, rebounding somewhat after the sharp -8.0 point drop to 4.5 seen in February. Today’s March NAHB housing market index is expected to show an upward rebound of +4 points to 50 after the -10 point plunge to 46 seen in February.
None of the Russell 1000 companies report earnings today. Equity conferences this week include: Consumer Analyst Group of Europe (CAGE) Conference on Mon-Wed, Bank of America Merrill Lynch Global Industrials & EU Auto Conference on Tue-Thu, Goldman Sachs TMT Leveraged Finance Conference on Wed, International Strategy & Investment Retail Summit on Wed, ISI Retail Summit on Wed-Thu, Gabelli & Company Specialty Chemicals Conference on Thu, Bloomberg Mexico Economic Summit on Thu, and Capital Link Invest in International Shipping Forum on Thu.
OVERNIGHT U.S. STOCK MOVERS
RBC Capital kept its 'Outperform' rating on Adobe (ADBE +0.16%) and increased its price target on the stock to $75 from $63.
Facebook (FB -1.61%) was downgraded to 'Hold' from 'Buy' at Argus.
JA Solar (JASO +8.25%) reported Q4 EPS of 16 cents, well above consensus of 1 cent.
GNC Holdings (GNC -0.41%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
SAP (SAP +0.61%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
Siemens (SI +2.00%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill.
TC PipeLines (TCP +0.82%) and Martin Midstream Partners (MMLP +0.47%) were both upgraded to 'Buy' from 'Neutral' at UBS.
Amgen's (AMGN -1.15%) talimogene laherparepvec drug reduced the size of tumors in a Phase 3 study.
Keurig Green Mountain (GMCR +6.68%) rose over 1% in European trading after it was announced that it will replace WPX Energy (WPX -0.11%) in S&P 500 as of the 3/21 close.
Long Focus Capital reported a 8.933% passive stake in Lucas Energy (LEI -8.00%) .
Solus Alternative Asset reported a 8.91% passive stake in YRC Worldwide (YRCW +1.70%) .
UPS Freight (UPS -0.85%) announced a general rate increase of 4.4%, effective March 31.
Kylin reported a 5.9% passive stake in E-House (EJ +0.63%) .
MARKET COMMENTS
June E-mini S&Ps (ESM14 +0.53%) this morning are up +9.50 points (+0.52%). The S&P 500 on Friday fell to a 1-1/2-week low and closed lower. Bearish factors included (1) concern the referendum vote Sunday in Crimea may lead to escalation of the Ukraine crisis, and (2) the U.S. Mar University of Michigan consumer confidence that unexpectedly fell -1.7 to 79.9, weaker than expectations of +0.4 to 82.0 and the lowest in 4-months. Stocks recovered their losses briefly late morning after Russian Foreign Minister Lavrov said Russia had no plans to invade eastern Ukraine and would respect the will of the Crimean people. Closes: S&P 500 -0.28%, Dow Jones -0.27%, Nasdaq -0.65%.
Jun 10-year T-notes (ZNM14 -0.23%) this morning are down -8 ticks. Jun 10-year T-note futures prices on Friday fell back from a 1-week high and closed little changed. T-notes moved higher on increased safe-haven demand from the Ukraine crisis and also after U.S. Mar University of Michigan consumer confidence unexpectedly fell to a 4-month low. T-notes relinquished most of their gains when Russia's foreign minister said his country has no plans to intervene in eastern Ukraine. Closes: TYM4 +1.00, FVM4 unch.
The dollar index (DXY00 +0.09%) this morning is up +0.048 (+0.06%). EUR/USD (^EURUSD) is down -0.0015 (-0.11%). USD/JPY (^USDJPY) is up +0.42 (+0.41%). The dollar index on Friday closed lower after U.S. Mar University of Michigan consumer confidence unexpected declined to a 4-month low. Another negative for the dollar was the drop in USD/JPY fell to a 2-week low as the yen strengthened on increased safe-haven demand over concern tensions in Ukraine may increase after Sunday's referendum that may lead Russia to annex Crimea. Closes: Dollar index -0.174 (-0.22%), EUR/USD +0.00363 (+0.26%), USD/JPY -0.494 (-0.49%).
Apr WTI crude oil (CLJ14 -0.20%) this morning is down -23 cents (-0.23%) and Apr gasoline (RBJ14 -0.55%) is down -0.0137 (-0.46%). Apr crude and gasoline prices on Friday closed higher. Bullish factors included (1) a weaker dollar, (2) the action by the IEA to raise their 2014 global crude consumption estimate to a record 92.7 million bbl a day, up +95,000 bbl from a forecast last month, and (3) concern that an escalation of Ukraine crisis could lead to a disruption of global energy supplies. Closes: CLJ4 +0.69 (+0.70%), RBJ4 +0.0268 (+0.91%).
GLOBAL EVENT CALENDAR03/17/2014
US0830 ETMar Empire manufacturing index expected +2.52 to 7.00, Feb -8.03 to 4.48.
0915 ETFeb industrial production expected +0.2%, Jan -0.3%. Feb capacity utilization expected +0.1 to 78.6%, Jan -0.4 to 78.5%.
1000 ETMar NAHB housing market index expected +4 to 50, Feb -10 to 46.
1100 ETUSDA weekly grain export inspections.
EUR0600 ETRevised Eurozone Feb CPI, previous +0.8% y/y. Revised Feb core CPI, previous +1.0% y/y.
CHI2130 ETChina Feb property prices.
U.S. STOCK CALENDAR03/17/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Ford Motor CoF US9:00Ford University CallY 2014
Cooper Cos Inc/TheCOO USAnnual General MeetingY 2014
LSI CorpLSI USITC Due to Release Findings in Realtek vs. LSI Patent-Infringement Case
Viacom IncVIAB USAnnual General Meeting
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