Showing posts with label MLM. Show all posts
Showing posts with label MLM. Show all posts

Friday, November 11, 2016

Martin Marietta Materials - Chart of the Day

Martin Marietta Materials (MLM) is the Barchart Chart of the Day.  The infrastructure  material supply company has a Trend Spotter buy signal, a Weighted Alpha of 52.91+ and gained 45.25% in the last year.

The Chart of the Day belongs to Martin Marietta Materials (MLM).  I found the infrastructure supply stock by using Barchart to sort the Russell 3000 Index stocks first for the most frequent number of new highs in the last month, then again for technical buy signals of 80% or more.  Since the Trend Spotter signaled a buy on 10/31 the stock gained 22.04%.

Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. The company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemicals products for industrial, agricultural and environmental uses, and dolomitic lime.





The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 18 new highs and up 33.77% in the last month
  • Relative Strength Index 76.83%
  • Technical support level at 228.10
  • Recently traded at 227.22 with a 50 day moving average of 182.95
Fundamental factors;
  • Market Cap $14.3 billion
  • P/E 36.18
  • Dividend yield .75%
  • Wall Street analysts are completely reworking their revenue and earnings projections
  • They still have 3 strong buy ans 2 hold recommendations in place
  • The individual investors on Motley Fool with opinions on the stock voted 158 to 24 for the stock to beat the market

Tuesday, August 2, 2016

MORNING CALL 8/2

MORNING CALL
OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps (ESU16 -0.23%) are down -0.15% and European stocks are down -1.45% at a 2-week low as weakness in European bank stocks leads the overall market lower. Commerzbank AG, Germany's second-largest lender, is down 8% after it scrapped its profit target for this year and forecast a drop in earnings, while Italy's UniCredit dropped over 5% after Il Messaggero reported that the bank may consider a capital increase of as much as 8 billion euros ($8.96 billion). Another negative for European stocks is concern that rising prices may keep the ECB from boosting stimulus measures after Eurozone Jun PPI rose a more-than-expected +0.7% m/m, the largest monthly increase in 3-3/4 years. Asian stocks settled mostly lower: Japan -1.47%, Hong Kong closed for holiday, China +0.61%, Taiwan -0.13%, Australia -0.84%, Singapore -1.24%, South Korea -0.74%, India -0.08%. Japanese stocks closed lower after USD/JPY dropped to a 3-week low when the Japanese government announced 4.6 trillion yen ($45 billion) in extra spending for the current fiscal year, much less than the 28 trillion-yen amount Japanese Prime Minister Abe had signaled in a speech last week. Australia's 10-year bond yield fell to a record low 1.823% after the Reserve Bank of Australia (RBA) cut its benchmark rate by 25 bp to a record low 1.5% today.
The dollar index (DXY00 -0.29%) is down -0.30% at a week low. EUR/USD (^EURUSD) is up +0.26% at a 1-1/4 month high. USD/JPY (^USDJPY) is down-0.63% at a 3-week low.
Sep T-note prices (ZNU16 -0.34%) are down -14 ticks.
The RBA cut its benchmark rate by 25 bp to a record low 1.5% and RBA Governor Stevens said that "recent data confirm that inflation remains quite low and given very subdued growth in labor costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time."
The Eurozone Jun PPI of +0.7% m/m and -3.1% y/y was stronger than expectations of +0.4% m/m and -3.4% y/y with the +0.7% m/m gain the largest monthly increase in 3-3/4 years.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Dallas Fed President Robert Kaplan speaks on economic conditions and implications for monetary policy at an Official Monetary and Financial Institutions Forum City Lecture in Beijing, China, (2) Jun personal spending (expected +0.3%, May +0.4%) and Jun personal income (expected +0.3%, May +0.2%), (3) Jun PCE deflator (expected +0.2% m/m and +0.9% y/y, May +0.2% m/m and +0.9% y/y) and Jun core PCE deflator (expected +0.1% m/m and +1.6% y/y, May +0.2% m/m and +1.6% y/y), (4) Jul New York ISM (May 45.4), (5) Jul total vehicle sales (expected 17.30 million, Jun 16.61 million).
There are 40 of the S&P 500 companies that report earnings today with notable reports including: Procter & Gamble (consensus $0.75), Emerson Electric (0.84), Royal Caribbean Cruises (1.02), Martin Marietta Materials (2.02), Seagate Technology (0.60), Aetna (2.12), Harris Corp (1.05), Pfizer (0.62), CVS Health (1.30), ADM (0.45), Cummins (2.16), Devon Energy (-0.20), Electronic Arts (-0.02), Verisk Analytics (0.76).
U.S. IPO's scheduled to price today: none.
Equity conferences this week include: Wells Fargo Services Conference on Wed-Thu.
OVERNIGHT U.S. STOCK MOVERS
Buffalo Wild Wings (BWLD +1.21%) was downgraded to 'Hold' from 'Buy' at Maxim Group.
Frontier Communications (FTR -2.31%) slid over 3% in pre-market trading after it reported Q2 adjusted Ebitda of $1.03 billion, less than consensus of $1.05 billion.
Charter Communications (CHTR +0.48%) was rated a new 'Buy' at Bank of America/Merrill Lynch with a price target of $300.
Williams Cos. (WMB -6.01%) rallied over 4% in after-hours trading after the company cut its dividend to 20 cents a share from 64 cents and said it will reinvest $1.7 billion into Williams Partners through 2017 with the cash saved from the lower dividends.
Texas Roadhouse (TXRH +1.02%) dropped over 5% in after-hours trading after it reported Q2 franchise comps of +2.6%, below consensus of +3.7%.
FormFactor (FORM +0.53%) was upgraded to 'Buy' from 'Hold' at Stifel with a 12-month target price of $13.
Tenet Healthcare (THC -5.55%) lost over 2% in after-hours trading after it reported Q2 adjusted EPS of 38 cents, weaker than consensus of 51 cents.
Chegg (CHGG +2.78%) climbed nearly 4% in after-hours trading after it reported Q2 adjusted EPS of 5 cents, better than consensus of 3 cents.
Trex Co. (TREX +0.82%) gained nearly 3% in after-hours trading after it reported Q2 EPS of 79 cents, higher than consensus of 71 cents.
Atwood Oceanics (ATW -3.65%) rose 3% in after-hours trading after it reported Q3 revenue of $227.8 million, above consensus of $225.2 million.
T2 Biosystems (TTOO +24.38%) slumped 9% in after-hours trading after it reported an Q2 EPS loss of -58 cents, wider than consensus of -56 cents
Amkor Technology (AMKR +2.54%) jumped 11% in after-hours trading after it reported an unexpected Q2 EPS profit of 2 cents, better than consensus for an -8 cent loss, and said it sees Q3 sales of $1.01 billion-$1.09 billion, higher than consensus of $936 million.
Cognex (CGNX +0.33%) surged 15% in after-hours trading after it reported Q2 EPS continuing operations of 50 cents, higher than consensus of 44 cents, and then said it sees Q3 revenue of $142 million-$147 million, above consensus of $127.6 million.
MARKET COMMENTS
Sep E-mini S&Ps (ESU16 -0.23%) this morning are down -3.25 points (-0.15%). Monday's closes: S&P 500 -0.13%, Dow Jones -0.15%, Nasdaq +0.55%. The S&P 500 on Monday retreated from a new all-time high and closed lower on the -0.6 point decline in the U.S. Jul ISM manufacturing index to 52.6 (weaker than expectations of -0.2 to 53.0) and on the sell-off in energy producers caused by the -3.7% drop in crude oil prices to a new 3-1/2 month low.
Sep 10-year T-notes (ZNU16 -0.34%) this morning are down -14 ticks. Monday's closes: TYU6 -8.00, FVU6 -2.50. Sep T-notes on Monday closed lower on hawkish comments from New York Fed President Dudley who said investors "appear to be too complacent" on interest rates" and "it is premature” to rule out Fed rate hikes this year.
The dollar index (DXY00 -0.29%) is down -0.285 (-0.30%) at a 4-week low. EUR/USD (^EURUSD) is up +0.0029 (+0.26%) at a 1-1/4 month high. USD/JPY (^USDJPY) is down -0.64 (-0.63%) at a 3-week low. Monday's closes: Dollar index +0.183 (+0.195%), EUR/USD -0.0011 (-0.10%), USD/JPY +0.33 (+0.32%). The dollar index on Monday closed higher on hawkish comments from New York Fed President Dudley who said "it is premature to rule out further monetary policy tightening this year." USD/JPY saw strength ahead of expectations that Japanese Prime Minister Abe on Tuesday will unveil the details of his 28 trillion-yen ($273 billion) fiscal stimulus package.
Sep WTI crude oil (CLU16 +1.45%) this morning is up +50 cents (+1.25%) and Sep gasoline (RBU16 +1.69%) is up +0.0227 (+1.74%). Monday's closes: CLU6 -1.54 (-3.70%), RBU6 -0.0158 (-1.20%). Sep crude oil and gasoline on Monday closed lower with Sep crude at a 3-1/2 month low on the stronger dollar and on global energy demand concerns after the U.S. Jul ISM manufacturing PMI and the China Jul manufacturing PMI were both weaker-than-expected. There was also negative carryover from last Friday's Baker Hughes report that U.S. active oil rigs increased for a fifth straight week.

GLOBAL EVENT CALENDAR08/02/2016
Tuesday, Aug 2
US0615 ETDallas Fed President Robert Kaplan speaks on economic conditions and implications for monetary policy at an Official Monetary and Financial Institutions Forum City Lecture in Beijing, China.
0830 ETJun personal spending expected +0.3%, May +0.4%. Jun personal income expected +0.3%, May +0.2%.
0830 ETJun PCE deflator expected +0.2% m/m and +0.9% y/y, May +0.2% m/m and +0.9% y/y. Jun core PCE deflator expected +0.1% m/m and +1.6% y/y, May +0.2% m/m and +1.6% y/y.
0945 ETJul New York ISM, May 45.4.
n/aJul total vehicle sales expected 17.30 million, Jun 16.61 million. Jul domestic vehicle sales expected 13.06 million, Jun 12.76 million.
Wednesday, Aug 3
US0700 ETWeekly MBA mortgage applications.
0815 ETJul ADP employment change expected +170,000, Jun +172,000.
0830 ETTreasury announces amount of 3-year T-notes (previous $24 billion), 10-year T-notes (previous $20 billion) and 30-year T-bonds (previous $12 billion) to be auctioned Aug 9-11 in the Aug quarterly refunding.
0945 ETRevised Jul Markit services PMI expected +0.1 to 51.0; prelim-Jul -0.5 to 50.9. Revised Jul Markit composite PMI, prelim-Jul +0.3 to 51.5.
1000 ETJul ISM non-manufacturing PMI expected -0.6 to 55.9, Jun +0.6 to 56.5.
1030 ETEIA Weekly Petroleum Status Report.
GER0355 ETRevised German Jul Markit services PMI, prelim-Jul +0.9 to 54.6.
EUR0400 ETRevised Eurozone Jul Markit composite PMI, prelim-Jul -0.2 to 52.9.
0500 ETEurozone Jun retail sales expected unch m/m and +1.8% y/y, May +0.4% m/m and +1.6% y/y.
U.S. STOCK CALENDAR08/02/2016

CompanyTickerTimeEvent DescriptionPeriodEstimate
Emerson Electric CoEMR USBef-mktQ3 2016 Earnings ReleaseQ3 20160.843
NiSource IncNI USBef-mktQ2 2016 Earnings ReleaseQ2 20160.072
Pinnacle West Capital CorpPNW USBef-mktQ2 2016 Earnings ReleaseQ2 20161.135
Expeditors International of Washington IncEXPD USBef-mktQ2 2016 Earnings ReleaseQ2 20160.589
Welltower IncHCN USBef-mktQ2 2016 Earnings ReleaseQ2 20161.14
Royal Caribbean Cruises LtdRCL USBef-mktQ2 2016 Earnings ReleaseQ2 20161.021
Martin Marietta Materials IncMLM USBef-mktQ2 2016 Earnings ReleaseQ2 20162.017
Seagate Technology PLCSTX USBef-mktQ4 2016 Earnings ReleaseQ4 20160.604
Teradata CorpTDC USBef-mktQ2 2016 Earnings ReleaseQ2 20160.596
Mallinckrodt PLCMNK USBef-mktQ3 2016 Earnings ReleaseQ3 20162.011
Aetna IncAET US6:00Q2 2016 Earnings ReleaseQ2 20162.118
Eaton Corp PLCETN US6:30Q2 2016 Earnings ReleaseQ2 20161.069
Entergy CorpETR US6:30Q2 2016 Earnings ReleaseQ2 20161.049
Harris CorpHRS US6:30Q4 2016 Earnings ReleaseQ4 20161.438
Pfizer IncPFE US6:45Q2 2016 Earnings ReleaseQ2 20160.624
Molson Coors Brewing CoTAP US6:45Q2 2016 Earnings ReleaseQ2 20161.094
AmerisourceBergen CorpABC US6:45Q3 2016 Earnings ReleaseQ3 20161.268
CVS Health CorpCVS US6:50Q2 2016 Earnings ReleaseQ2 20161.303
Xylem Inc/NYXYL US6:55Q2 2016 Earnings ReleaseQ2 20160.474
Archer-Daniels-Midland CoADM US7:00Q2 2016 Earnings ReleaseQ2 20160.448
Pitney Bowes IncPBI US7:00Q2 2016 Earnings ReleaseQ2 20160.39
Procter & Gamble Co/ThePG US7:00Q4 2016 Earnings ReleaseQ4 20160.745
Cardinal Health IncCAH US7:00Q4 2016 Earnings ReleaseQ4 20161.13
Mosaic Co/TheMOS US7:00Q2 2016 Earnings ReleaseQ2 20160.117
Discovery Communications IncDISCA US7:00Q2 2016 Earnings ReleaseQ2 20160.567
Cummins IncCMI US7:30Q2 2016 Earnings ReleaseQ2 20162.164
Pitney Bowes IncPBI US8:00Q2 2016 Earnings CallQ2 2016
Cardinal Health IncCAH US8:00Q4 2016 Earnings CallQ4 2016
Dun & Bradstreet Corp/TheDNB US8:00Q2 2016 Earnings CallQ2 2016
Ecolab IncECL US8:30Q2 2016 Earnings ReleaseQ2 20161.078
Harris CorpHRS US8:30Q4 2016 Earnings CallQ4 2016
CVS Health CorpCVS US8:30Q2 2016 Earnings CallQ2 2016
Procter & Gamble Co/ThePG US8:30Q4 2016 Earnings CallQ4 2016
Aetna IncAET US8:30Q2 2016 Earnings CallQ2 2016
Teradata CorpTDC US8:30Q2 2016 Earnings CallQ2 2016
Discovery Communications IncDISCA US8:30Q2 2016 Earnings CallQ2 2016
Mallinckrodt PLCMNK US8:30Q3 2016 Earnings CallQ3 2016
Archer-Daniels-Midland CoADM US9:00Q2 2016 Earnings CallQ2 2016
NiSource IncNI US9:00Q2 2016 Earnings CallQ2 2016
General Growth Properties IncGGP US9:00Q2 2016 Earnings CallQ2 2016
Seagate Technology PLCSTX US9:00Q4 2016 Earnings CallQ4 2016
Mosaic Co/TheMOS US9:00Q2 2016 Earnings CallQ2 2016
Xylem Inc/NYXYL US9:00Q2 2016 Earnings CallQ2 2016
Ford Motor CoF US9:15July 2016 Sales and Revenue Release
Williams Cos Inc/TheWMB US9:30Q2 2016 Earnings CallQ2 2016
Cummins IncCMI US10:00Q2 2016 Earnings CallQ2 2016
Eaton Corp PLCETN US10:00Q2 2016 Earnings CallQ2 2016
Equifax IncEFX US10:00Business Update Call
Ford Motor CoF US10:00July 2016 Sales and Revenue Call
Pfizer IncPFE US10:00Q2 2016 Earnings CallQ2 2016
Vornado Realty TrustVNO US10:00Q2 2016 Earnings CallQ2 2016
Alliant Energy CorpLNT US10:00Q2 2016 Earnings CallQ2 2016
Welltower IncHCN US10:00Q2 2016 Earnings CallQ2 2016
Royal Caribbean Cruises LtdRCL US10:00Q2 2016 Earnings CallQ2 2016
Entergy CorpETR US11:00Q2 2016 Earnings CallQ2 2016
Molson Coors Brewing CoTAP US11:00Q2 2016 Earnings CallQ2 2016
AmerisourceBergen CorpABC US11:00Q3 2016 Earnings CallQ3 2016
American International Group IncAIG USAft-mktQ2 2016 Earnings ReleaseQ2 20160.922
FMC CorpFMC USAft-mktQ2 2016 Earnings ReleaseQ2 20160.68
ONEOK IncOKE USAft-mktQ2 2016 Earnings ReleaseQ2 20160.437
Cerner CorpCERN USAft-mktQ2 2016 Earnings ReleaseQ2 20160.571
Electronic Arts IncEA USAft-mktQ1 2017 Earnings ReleaseQ1 2017-0.023
Fiserv IncFISV USAft-mktQ2 2016 Earnings ReleaseQ2 20161.074
Newfield Exploration CoNFX USAft-mktQ2 2016 Earnings ReleaseQ2 20160.157
Hanesbrands IncHBI USAft-mktQ2 2016 Earnings ReleaseQ2 20160.524
Concho Resources IncCXO USAft-mktQ2 2016 Earnings ReleaseQ2 20160.053
Verisk Analytics IncVRSK USAft-mktQ2 2016 Earnings ReleaseQ2 20160.762
Fortive CorpFTV USAft-mktQ2 2016 Earnings ReleaseQ2 20160.613
Alaska Air Group IncALK USJuly 2016 Sales and Revenue Release - Traffic Results2016
Delta Air Lines IncDAL USJuly 2016 Sales and Revenue Release - Traffic Results2016
General Motors CoGM USJuly 2016 Sales and Revenue Release2016

Monday, May 16, 2016

5 Large Caps for Momentum Investors

Today I used Barchart to sort the S&P 500 Large Cap Index stocks to find stocks for momentum investors.  First I sorted for the most frequent new highs in the last month then again for positive short term buy signals.  Next I used the Flipchart feature to review the charts.  Today;s watch list includes:

Oneok (OKE), Baxter International (BAX), L-3 Communications (LLL), Republic Services (RSG) and Martin Marietta Materials (MLM)

Oneok (OKE)

Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 32.21% in the last month
  • Relative Strength Index 79.75%
  • Technical support level at 39.29
  • Recently traded at 41.98 with a 50 day moving average of 32.60

Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 7.41% in the last month
  • Relative Strength Index 68.35%
  • Technical support level at 44.87
  • Recently traded at 45.85 with a 50 day moving average of 42.45


Barchart technical indicators:
  • 72% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 12.17% in the last month
  • Relative Strength Index 71.20%
  • Technical support level at 133.05
  • Recently traded at 135.99 with a 50 day moving average of 123.89


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 5.37% in the last month
  • Relative Strength Index 64.10%
  • Technical support level at 47.99
  • Recently traded at 48.72 with a 50 day moving average of 47.21


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 13.33% in the last month
  • Relative Strength Index 72.19%
  • Technical support level at 181.06
  • Recently traded at 187.13 with a 50 day moving average of 165.23










Wednesday, May 11, 2016

Martin Marietta Materials - Chart of the Day

Martin Marietta Materials (MLM) is the Barchart Chart of the Day.  The building materials company has a Trend Spotter buy signal, a Weighted Alpha of 30.30+ and gained 21.39% in the last year.

The Chart of the Day is Martin Marietta Materials (MLM).  I found the building materials stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% of more.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 2/12 the stock gained 40.15%.

Martin Marietta Materials producer of aggregates for the construction industry, including highways, infrastructure, commercial and residential. The company also manufactures and markets magnesia-based products, including heat-resistant refractory products for the steel industry, chemicals products for industrial, agricultural and environmental uses, and dolomitic lime.



The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 13.75% in the last month
  • Relative Strength index 75.07%
  • Technical support level at 180.02
  • Recently traded at 186.05 with a 50 day moving average if 162.97
Fundamental factors:
  • Market Cap $ 11.82 billion
  • P/E 35.74
  • Dividend yield .90%
  • Revenue expected to grow 13.60% this year and another 11.70% next year
  • Earnings estimated to increase 64.00% this year, an additional 32.80% next year and continue to increase at an annual rate of 18.60% for the next 5 years
  • Wall Street analysts issued 5 strong buy, 5 buy and 4 hold recommendations on the stock
The 100 day moving average vs. the price has been a reliable trading strategy for this stock.

Monday, May 9, 2016

MORNING CALL 5/9

MORNING CALL

OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 +0.29%) are up +0.24% and European stocks are up +1.48% as a +2.15% rally in crude oil (CLM16 +1.34%) boosts energy producing stocks. The ongoing wildfire in Alberta, Canada has cut Canadian oil production by about 1 million bpd and has underpinned oil prices. Another positive for European stocks was the bigger-than-expected increase in Eurozone May Sentix investor confidence. On the negative side, however, copper prices (HGN16 -1.51%) dropped -1.53% to a 3-1/2 week low which has undercut mining stocks with Rio Tinto Group and Glencore Plc both down at last 3%. In addition, China Apr exports unexpectedly fell and China Apr imports fell for the 18th month in a row. Asian stocks settled mixed: Japan +0.68%, Hong Kong +0.23%, China -2.79%, Taiwan -0.18%, Australia +0.54%, Singapore +1.29%, South Korea -0.44%, India +1.82%. Chinese stocks were pressured by the weak Chinese trade data as the Shanghai Composite fell to a 1-3/4 month low, while Japanese stocks finished higher as exporters rallied after USD/JPY climbed to a 1-week high, which improves the earnings prospects of exporter companies.
The dollar index (DXY00 +0.19%) is up +0.13% at a 1-week high. EUR/USD (^EURUSD) is down -0.13% at a 1-week low. USD/JPY (^USDJPY) is up +0.88% at a 1-week high.
Jun T-note prices (ZNM16 +0.12%) are up +1.5 ticks.
Speaking at the International Financial Services Forum in London, Chicago Fed President Evans said that U.S. economic fundamentals are "good" and "wait and see" stance for monetary policy is appropriate. He said the U.S. economy should grow at a 2.5% pace for the rest of 2016, which "should support a gradual resumption of U.S. policy rate increases later this year."
New York Fed President Dudley said that while Friday's U.S. employment report was "a touch softer," it won't affect his economic outlook and that it remains a "reasonable expectation" that the Fed will raise interest rates twice this year.
The Eurozone May Sentix investor confidence rose +0.5 to 6.2, stronger than expectations of +0.3 to 6.0.
The China Apr trade balance widened to a surplus of +$45.56 billion, bigger than expectations of +$40.00 billion. Apr exports unexpectedly fell -1.8%y/y weaker than expectations of no change, and Apr imports fell -10.9% y/y, weaker than expectations of -4.0% y/y.

U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Chicago Fed President Charles Evans speaks on a panel with ECB Vice President Vitor Constancio at the International Financial Services Forum in London, (2) Minneapolis Fed President Neel Kashkari speaks at an Economic Club of Minnesota luncheon.
There are 6 of the S&P 500 companies that report earnings today: Tyson Foods (consensus $0.96), HCP (0.69), AES (0.20), Xcel Energy (0.47), International Flavors & Fragrances (1.40), Dun & Bradstreet (0.97).
U.S. IPO's scheduled to price today: none.
Equity conferences this week include: Morgan Stanley E&P and Oil Services Conference on Mon, Deutsche Bank Clean Tech, Utilities and Power Conference on Mon, Goldman Sachs Global Staples Forum on Tue, Bank of America Merrill Lynch Global Metals, Mining & Steel Conference on Tue, Credit Suisse REIT Conference on Tue, Wells Fargo Securities Gaming, Leisure & Restaurants Conference on Tue, Sterne Agee CRT Business Services Conference on Tue, The Boston Industrial and Environmental Services Conference on Tue, 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
Tyson Foods (TSN +1.31%) rose nearly 3% in pre-market trading after it reported Q2 adjusted EPS of $1.07, higher than consensus of 96 cents, and then raised guidance on full-year adjusted EPS to $4.20-$4.30 from a prior estimate of $3.85-$3.95, above consensus of $4.06.
Altria Group (MO +0.14%) was upgraded to 'Buy' from 'Hold' at Argus Research with a price target of $68.
LabStyle Innovations (DRIO +3.45%) was rated a new 'Buy' at Rodman & Renshaw with a 12-month price target of $12.
Silver Wheaton (SLW +2.74%) reported Q1 EPS of 10 cents, below consensus of 12 cents.
LendingClub (LC +3.65%) slumped 16% in pre-market trading after CEO Renaud Laplanch resigned following an internal review of $22 million in near-prime loans to a single investor.
Flotek Industries (FTK +1.13%) was upgraded to 'Buy' from 'Speculative Buy' ay Seaport Global Securities with a 12-month price target of $13.
Comerica (CMA unch) was upgraded to 'Outperform' from 'Market Perform' at Raymond James.
Kronos Worldwide (KRO +4.38%) reported a Q1 EPS loss of -3 cents, a smaller loss than consensus of -13 cents,
Apollo Education Group (APOL +1.47%) climbed nearly 2% in after-hours trading after Apollo Education shareholders approved a $10 a share offer from a group led by Apollo Global Management.
Beazer Homes (BZH +0.42%) gained over 1% in after-hours trading after the chairman of the company, Stephen Zelnak, disclosed a purchase of 55,000 shares May 4-5.
NorthStar Realty Finance (NRF +2.28%) jumped almost 6% in after-hours trading after Colony Capital said it is in exclusive negotiations with NorthStar Asset Management Group and NRF for a tri-party all stock "at the market" business combination.
NorthStar Asset Management Group (NSAM +1.01%) surged over 15% in after-hours trading after Colony Capital said it is in exclusive negotiations with NSAM and NorthStar Realty for a tri-party all stock "at the market" business combination.
MARKET COMMENTS
June E-mini S&Ps (ESM16 +0.29%) this morning are up +5.00 points (+0.24%). Friday's closes: S&P 500 +0.32%, Dow Jones +0.45%, Nasdaq +0.48%. The S&P 500 on Friday rebounded from a 1-month low and closed higher on reduced interest rate concerns as the weaker than expected U.S. Apr non-farm payrolls may keep the Fed from raising interest rates this year. Stocks also received a boost from the +$29.647 billion increase in U.S. Mar consumer credit, much stronger than expectations of +$16.0 billion and the largest increase on record (data from 1943). Stocks were undercut by the weak +160,000 April payroll report and by Friday's -2.82% drop in the Shanghai Composite to a 2-week low.
June 10-year T-note prices (ZNM16 +0.12%) this morning are up +1.5 ticks. Friday's closes: TYM6 -6.50, FVM6 -3.50. Jun T-notes on Friday retreated from a 3-1/2 week high and closed lower on reduced safe-haven demand after stocks recovered from an early 1-month low. T-notes initially rallied to a 3-1/2 week high after U.S. Apr non-farm payrolls rose less than expected.
The dollar index (DXY00 +0.19%) this morning is up +0.126 (+0.13% at a 1-week high. EUR/USD (^EURUSD) is down -0.0015 (-0.13%) at a 1-week low. USD/JPY (^USDJPY) is up +0.94 (+0.88%) at a 1-week high. Friday's closes: Dollar Index +0.601 (+0.64%), EUR/USD -0.0001 (-0.01%), USD/JPY-0.14 (-0.13%). The dollar index on Friday closed higher on the stronger-than-expected U.S. Apr average hourly earnings report and the stronger-than-expected U.S. Mar consumer credit report of +$29.674 billion.
June WTI crude oil (CLM16 +1.34%) this morning is up +96 cents (+2.15%). June gasoline (RBM16 +0.29%) is up +0.0126 (+0.84%). Friday's closes: CLM6 +0.34 (+0.77%), RBM6 +0.0048 (+0.32%). Jun crude oil and gasoline on Friday recovered from early losses and closed higher on the outlook for reduced U.S. oil production after Baker Hughes reported a -4 rig drop in the number of active U.S. oil rigs to a 6-1/2 year low of 328 rigs. Gains were limited by the weak U.S. payroll report.
GLOBAL EVENT CALENDAR05/09/2016
US0510 ETChicago Fed President Charles Evans speaks on a panel with ECB Vice President Vitor Constancio at the International Financial Services Forum in London.
1100 ETUSDA weekly grain export inspections.
1300 ETMinneapolis Fed President Neel Kashkari speaks at an Economic Club of Minnesota luncheon.
1600 ETUSDA Weekly Crop Progress.
JPN0100 ETJapan Apr consumer confidence index expected -1.0 to 40.7, Mar 41.7.
GER0200 ETGerman Mar factory orders expected +0.6% m/m and +0.1% y/y, Feb -1.2% m/m and +0.5% y/y.
EUR0430 ETEurozone May Sentix investor confidence expected +0.3 to 6.0, Apr 5.7.
UK0330 ETUK Apr Halifax house prices expected -0.3% m/m and +9.6% 3-mon y/y, Mar +2.6% m/m and +10.1% 3-mon y/y.
1901 ETUK Apr BRC sales like-for-like expected +0.5% y/y, Mar -0.7% y/y.
CHI2130 ETChina Apr CPI expected +2.3% y/y, Mar +2.3% y/y. Apr PPI expected -3.7% y/y, Mar -4.3% y/y.
n/aChina Apr new yuan loans expected +815.0 billion yuan, Mar +1.37 trillion yuan.
U.S. STOCK CALENDAR05/09/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
HCP IncHCP USBef-mktQ1 2016 Earnings ReleaseQ1 20160.69
AES Corp/VAAES USBef-mktQ1 2016 Earnings ReleaseQ1 20160.203
Xcel Energy IncXEL USBef-mktQ1 2016 Earnings ReleaseQ1 20160.465
Tyson Foods IncTSN US7:30Q2 2016 Earnings ReleaseQ2 20160.955
Pitney Bowes IncPBI US9:00Annual General MeetingY 2016
AES Corp/VAAES US9:00Q1 2016 Earnings CallQ1 2016
Tyson Foods IncTSN US9:00Q2 2016 Earnings CallQ2 2016
Masco CorpMAS US10:00Annual General Meeting
Xcel Energy IncXEL US10:00Q1 2016 Earnings CallQ1 2016
Martin Marietta Materials IncMLM US11:00Analyst and Investor DayY 2016
HCP IncHCP US12:00Q1 2016 Earnings CallQ1 2016
International Paper CoIP US12:00Annual General Meeting
Baxter International IncBAX US13:00Investor ConferenceY 2016
Gap Inc/TheGPS US16:15April 2016 Sales and Revenue Release2016
International Flavors & Fragrances IncIFF USAft-mktQ1 2016 Earnings ReleaseQ1 20161.4
Dun & Bradstreet Corp/TheDNB USAft-mktQ1 2016 Earnings ReleaseQ1 20160.969

Tuesday, February 9, 2016

MORNING CALL 2/9

MORNING CALL
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 -0.86%) are down -0.40% and European stocks are down -0.59% at a 2-1/3 year low as global economic concerns intensified after German Dec industrial production unexpectedly fell by the most in 16 months and as Greece's ASE Stock Index fell to the lowest since 1990. Greek debt concerns resurfaced as the Greek government remains at odds with creditors as bailout talks drag on. Greek bank stocks plunged after representatives from the IMF, the European Commission, the ECB and the European Stability Mechanism left Athens after a week of talks that failed to find an agreement for additional Greek bailout funds. Estimate are that Greece may face a cash crunch by the middle of the year if it fails to find more funding with 3 billion euros of redemptions and interest payments due in July. Concerns over European banks abated slightly after Goldman Sachs said that European banks have "ample liquidity" and after Deutsche Bank AG rose over 1% when it said it has enough cash to pay its debts. Asian stocks settled lower: Japan -5.40%, Australia -2.86%, India -1.10% with Hong Kong, China, Taiwan, Singapore and South Korea all closed for holiday. Japan's Nikkei Stock Index fell to a 2-week low as exporters slid after the yen jumped to a 14-3/4 month high against the dollar. The plunge in Japanese stocks fueled safe-haven buying of government debt and pushed the yield on Japan's 10-year bond down to a record low of -0.035%.
The dollar index (DXY00 -0.07%) is down -0.12%. EUR/USD (^EURUSD) is up +0.26%. USD/JPY (^USDJPY) is down -0.72% at a 14-3/4 month low.
Mar T-note prices (ZNH16 unch) are down -6 ticks.
German Dec industrial production unexpectedly fell -1.2% m/m, weaker than expectations of +0.5% m/m and the biggest decline in 16 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Dec JOLTS job openings (expected +19,000 to 5.450 million, Nov +82,000 to 5.431 million), (2) Dec wholesale inventories (expected -0.2% m/m, Nov -0.3% m/m) and (3) the Treasury's auction of $24 billion of 3-year T-notes.
There are 18 of the S&P 500 companies that report earnings today with notable reports including: Disney (consensus $1.45), Coca-Cola Co (0.37), Viacom (1.18), Ingersol-Rand (0.93), CVS Health (1.53), Goodyear (0.75).
U.S. IPO's scheduled to price today: OTG EXP Inc (OTG).
Equity conferences during the remainder of this week include: Credit Suisse Financial Services Forum on Tue-Wed, Stifel Nicolaus Transportation and Logistics Conference on Tue-Wed, Goldman Sachs Technology and Internet Conference on Tue-Thu, Bank Of America Merrill Lynch Insurance Conference on Wed-Thu, BB&T Capital Markets Transportation Services Conference on Wed-Thu, Leerink Partners Global Health Care Conference on Wed-Thu, Morgan Stanley Chemicals Corporate Access Day on Thu.



OVERNIGHT U.S. STOCK MOVERS
CVS Health Corp. (CVS -3.71%) reported Q4 EPS of $1.53, right on consensus.
Ingersoll-Rand PLC (IR -3.66%) reported Q4 EPS of 94 cents, better than consensus of 93 cents.
Cheesecake Factory (CAKE -0.04%) was rated a new 'Buy' at Maxim Group with a price target of $57.
Salesforce.com (CRM -7.62%) was upgraded to 'Hold' from 'Underperform' at Jeffries.
Twenty-First Century Fox (FOXA -1.91%) declined nearly 6% in after-hours trading after it reported Q2 revenue of $7.38 billion, below consensus of $7.52 billion.
The Gap (GPS +0.93%) rose over 2% in after-hours trading after it said it sees Q4 adjusted EPS of 56 cents-57 cents, above consensus of 53 cents.
Waste Connections (WCN -1.91%) reported Q4 adjusted EPS of 49 cents, higher than consensus of 47 cents.
Partner Re (PRE -0.06%) reported Q4 operating EPS of $3.74, well above consensus of $2.48
Molina Healthcare MOH reported Q4 adjusted EPS of 67 cents, higher than consensus of 60 cents, although Q4 revenue of $3.77 billion was below consensus of $3.90 billion.
Bristow Group (BRS +2.27%) slid nearly 3% in after-hours trading after it reported Q3 adjusted EPS of 67 cents, better than consensus of 63 cents, but Q3 revenue of $419.9 million was below consensus of $447.8 million.
Plains All American Pipeline LP (PAA -13.15%) fell over 1% in after-hours trading after it reported Q4 adjusted EPS of 38 cents, below consensus of 46 cents.
Qualys (QLYS -6.09%) dropped 7% in after-hours trading after it lowered guidance on fiscal 2016 adjusted EPS to 74 cents-79 cents, weaker than consensus of 81 cents.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 -0.86%) this morning are down -7.50 points (-0.40%). Monday's closes: S&P 500 -1.42%, Dow Jones -1.10%, Nasdaq -1.59%. The S&P 500 index on Monday sold off to a 2-1/2 week low and closed sharply lower on carryover weakness from the plunge in European stocks to a 2-1/3 year low, the slump in the Nasdaq Composite to a 17-month low, and a sell-off in energy producers after crude oil fell -2.5%.
Mar 10-year T-notes (ZNH16 unch) this morning are down -6 ticks. Monday's closes: TYH6 +30.00, FVH6 +16.50. Mar T-notes on Monday rallied to a new contract high and the 10-year T-note yield tumbled to a 1-year low of 1.73%. T-note prices were boosted by safe-haven demand from the plunge in stocks and by reduced inflation expectations as the 10-year breakeven inflation expectations rate fell to a 6-3/4 year low.
The dollar index (DXY00 -0.07%) this morning is down -0.113 (-0.12%). EUR/USD (^EURUSD) is up +0.0029 (+0.26%). USD/JPY (^USDJPY) is down-0.83 (-0.72%) at a 14-3/4 month low. Monday's closes: Dollar Index -0.461 (-0.48%), EUR/USD +0.0035 (+0.31), USD/JPY -1.02 (-0.87%). The dollar index on Monday closed lower on weakness in USD/JPY which plunged to a 14-3/4 month low as the slump in the S&P 500 to a 2-week low prompted safe-haven buying of the yen. The dollar was also undercut by speculation that the slide in global equity markets will keep the Fed from additional interest rate increases.
Mar crude oil (CLH16 +0.64%) this morning is up +56 cents (+1.89%) and Mar gasoline (RBH16 -1.27%) is down -0.0061 (-0.64%). Monday's closes: CLH6-0.77 (-2.49%), RBH6 -0.0338 (-3.40%). Mar crude oil and gasoline on Monday closed lower with Mar gasoline at a 7-year nearest-futures low. Crude oil prices were undercut by the slump in global equity markets and by signs that OPEC will continue to overproduce after Venezuela's oil minister met with other OPEC oil ministers over the weekend and was unable to drum up support for a coordinated cut in OPEC oil production. Crude prices recovered from their worst levels as the dollar weakened.
GLOBAL EVENT CALENDAR02/09/2016
US1000 ETDec JOLTS job openings expected +19,000 to 5.450 million, Nov +82,000 to 5.431 million.
1000 ETDec wholesale inventories expected -0.2% m/m, Nov -0.3% m/m. Dec wholesale trade sales expected -0.4% m/m, Nov -1.0% m/m.
1200 ETUSDA Feb WASDE crop production.
1300 ETTreasury auctions $24 billion 3-year T-notes.
GER0200 ETGerman Dec industrial production expected +0.5% m/m and -0.6% y/y, Nov -0.3% m/m and +0.1% y/y.
0200 ETGerman Dec trade balance expected +20.0 billion euros, Nov +20.5 billion euros. Dec exports expected +0.5% m/m, Nov +0.5% m/m. Dec imports expected -0.5% m/m, Nov +1.7% m/m.
JPN0100 ETJapan Jan machine tool orders, Dec -25.7% y/y.
1850 ETJapan Jan PPI expected -0.7% m/m and -2.8% y/y, Dec -0.3% m/m and -3.4% y/y.
CHIn/aChina Jan new yuan loans expected 1.9 trillion yuan, Dec +597.8 billion yuan.
U.S. STOCK CALENDAR02/09/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Coca-Cola Co/TheKO USBef-mktQ4 2015 Earnings ReleaseQ4 20150.373
Goodyear Tire & Rubber Co/TheGT USBef-mktQ4 2015 Earnings ReleaseQ4 20150.746
HCP IncHCP USBef-mktQ4 2015 Earnings ReleaseQ4 20150.779
CVS Health CorpCVS USBef-mktQ4 2015 Earnings ReleaseQ4 20151.532
Omnicom Group IncOMC USBef-mktQ4 2015 Earnings ReleaseQ4 20151.325
Regeneron Pharmaceuticals IncREGN USBef-mktQ4 2015 Earnings ReleaseQ4 20153.374
Martin Marietta Materials IncMLM USBef-mktQ4 2015 Earnings ReleaseQ4 20151.338
Fidelity National Information Services IncFIS USBef-mktQ4 2015 Earnings ReleaseQ4 20150.928
Wyndham Worldwide CorpWYN USBef-mktQ4 2015 Earnings ReleaseQ4 20150.966
Ingersoll-Rand PLCIR US6:30Q4 2015 Earnings ReleaseQ4 20150.926
Masco CorpMAS US7:00Q4 2015 Earnings ReleaseQ4 20150.258
Masco CorpMAS US8:00Q4 2015 Earnings CallQ4 2015
Owens-Illinois IncOI US8:00Q4 2015 Earnings CallQ4 2015
Viacom IncVIAB US8:00Q1 2016 Earnings ReleaseQ1 20161.179
CVS Health CorpCVS US8:30Q4 2015 Earnings CallQ4 2015
Omnicom Group IncOMC US8:30Q4 2015 Earnings CallQ4 2015
Regeneron Pharmaceuticals IncREGN US8:30Q4 2015 Earnings CallQ4 2015
Fidelity National Information Services IncFIS US8:30Q4 2015 Earnings CallQ4 2015
Viacom IncVIAB US8:30Q1 2016 Earnings CallQ1 2016
Wyndham Worldwide CorpWYN US8:30Q4 2015 Earnings CallQ4 2015
Coca-Cola Co/TheKO US9:00Q4 2015 Earnings CallQ4 2015
Goodyear Tire & Rubber Co/TheGT US9:00Q4 2015 Earnings CallQ4 2015
Ingersoll-Rand PLCIR US10:00Q4 2015 Earnings CallQ4 2015
Texas Instruments IncTXN US11:00Strategy Update Call
Charles Schwab Corp/TheSCHW US11:30Business Update Call
Ford Motor CoF US12:00C.D. Howe Institute Presents CEO of Ford Canada, Dianne Craig
HCP IncHCP US12:00Q4 2015 Earnings CallQ4 2015
Martin Marietta Materials IncMLM US14:00Q4 2015 Earnings CallQ4 2015
Western Union Co/TheWU US16:01Q4 2015 Earnings ReleaseQ4 20150.416
Walt Disney Co/TheDIS US16:15Q1 2016 Earnings ReleaseQ1 20161.446
Western Union Co/TheWU US16:30Q4 2015 Earnings CallQ4 2015
Akamai Technologies IncAKAM US16:30Q4 2015 Earnings CallQ4 2015
Walt Disney Co/TheDIS US17:00Q1 2016 Earnings CallQ1 2016
Federal Realty Investment TrustFRT USAft-mktQ4 2015 Earnings ReleaseQ4 20151.377
Akamai Technologies IncAKAM USAft-mktQ4 2015 Earnings ReleaseQ4 20150.624
Willis Towers Watson PLCWLTW USAft-mktQ4 2015 Earnings ReleaseQ4 20151.446
Assurant IncAIZ USAft-mktQ4 2015 Earnings ReleaseQ4 20151.539