BARCHART MORNING CALL 3/10

BARCHART MORNING CALL

March E-mini S&Ps (ESH15 -0.87%) this morning are down -0.59% at a 1-3/4 month low and European stocks are down -0.78% after Dallas Fed President Fisher said that the Fed should raise interest rates before the economy reaches full employment to avoid triggering a recession. The yield on the German 10-year bund fell to a record low of 0.279% as the ECB bought Eurozone government bonds in the second day of its quantitative easing program. Asian stocks closed mostly lower: Japan -0.67%, Hong Kong -0.94%, China -0.48%, Taiwan -0.28%, Australia +0.05%, Singapore -0.19%, South Korea -0.40%, India -0.47%. Asian stocks fell back on China deflation concerns after China's producer prices extended a record stretch of declines to 36 months after Chine Feb PPI fell -4.8% y/y, the biggest decline in over 5 years. Commodity prices are mostly lower on a rally in the dollar. Apr crude oil (CLJ15 -0.98%) is down -0.48%. Apr gasoline (RBJ15 -1.07%) is down -0.94%. Apr gold (GCJ15 -0.37%) is down -0.45% at a 3-month low as the dollar strengthens. May copper (HGK15 -2.38%) is down -1.85%. Agriculture prices are lower ahead of the USDA's Mar WASDE crop production report. The dollar index (DXY00 +0.82%) is up +0.71% at an 11-1/2 year high. EUR/USD (^EURUSD) is down -0.84% at an 11-3/4 year low. USD/JPY (^USDJPY) is up +0.41% at a 7-1/2 year high. Jun T-note prices (ZNM15 +0.21%) are up +5 ticks.
Dallas Fed President Fisher said the Fed should raise interest rates before the economy reaches full employment as policy makers are better off tightening monetary policy earlier and more gradually than later and more quickly. He added that "every time the Fed tightened policy after achieving full employment, it has driven the economy into recession."
China Feb CPI rose +1.4% y/y, stronger than expectations of +1.0% y/y. Feb PPI fell -4.8% y/y, weaker than expectations of -4.3% y/y and the fastest pace of decline in 5-1/3 years.
Japan Feb machine tool orders jumped +28.9% y/y, the seventeenth consecutive month that machine tool orders have increased.

U.S. STOCK PREVIEW

Today’s Jan JOLTS job openings report is expected to show a +22,000 increase to 5.050 million, adding to December’s +181,000 increase to 5.028 million. The Treasury today will sell $24 billion of 3-year T-notes. There are two of the Russell 1000 companies that report earnings today: John Wiley (consensus $0.97), VeriFone Systems (0.41).
Equity conferences during the remainder of this week include: Deutsche Bank Media, Internet & Telecom Conference on Mon-Wed, 11th Annual Private Banking Asia 2015 on Mon-Wed, Citigroup Asset Manager, Broker Dealer & Exchanges Conference on Tue, KBW Cards, Payments & Financial Technology Conference on Tue, Mitsubishi UFJ Securities Oil & Gas Conference on Tue, ROTH Growth Stock Conference on Tue, Susquehanna Chemical Conference, Keefe Bruyette & Woods Cards Payments & Financial Technology Symposium on Tue, Piper Jaffray Technology, Media and Telecommunications Conference on Tue-Wed, RBC Capital Markets Financial Institutions Conference on Tue-Wed, Credit Agricole Global High Yield Conference on Wed, Goldman Sachs TMT Leveraged Finance Conference on Wed, Barclays Capital Health Care Conference on Tue-Thu, Deutsche Bank Regional Banks Summit on Thu, Nomura - Conference: US Software Conference - New York on Thu.

OVERNIGHT U.S. STOCK MOVERS

Peabody Coal (BTU -0.78%) was downgraded to 'Hold' from 'Buy' at Jefferies.
AutoZone (AZO +0.88%) was upgraded to 'Buy' from 'Hold' at Argus.
NVIDIA (NVDA +0.27%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill Lynch.
Hewlett-Packard (HPQ -0.69%) was upgraded to 'Buy' from 'Neutral' at UBS.
Qihoo 360 (QIHU -1.88%) reported Q4 adjusted EPS of 75 cents, better than consensus of 71 cents.
Skyworks (SWKS +1.50%) will replace PetSmart (PETM +0.06%) in the S&P 500 as of the close of trading on Wednesday.
Mindray Medical (MR -1.90%) reported Q4 non-GAAP EPS of 49 cents, less than consensus of 52 cents.
Guggenheim Partners reported a 10.9% stake in Merge Healthcare (MRGE -9.19%) .
Illumina (ILMN -0.04%) was initiated with a 'Buy' at UBS with a price target of $240.
OrbiMed reported a 13.57% passive stake in Synergy Pharmaceuticals (SGYP +2.57%) .
Titan Machinery (TITN -5.90%) slid over 8% in after-hours trading after it reported preliminary a Q4 ex-items EPS loss of -18 cents to -23 cents, well below consensus of 9 cents. The company also said it will reduce its workforce by 14%.
United Natural Foods (UNFI +2.18%) reported Q2 adjusted EPS of 65 cents, below consensus of 67 cents, and then lowered guidance on fiscal 2015 revenue to $8.19 billion-$8.29 billion, less than consensus of $8.33 billion.
Casey's General Stores (CASY +3.72%) reported Q3 EPS of $1.01, well above consensus of 82 cents.
Qualcomm (QCOM +1.69%) authorized a repurchase of $15 billion in common stock.
Urban Outfitters (URBN +1.59%) reported Q4 EPS of 60 cents, better than consensus of 58 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 -0.87%) this morning are down -12.25 points (-0.59%) at a 1-3/4 month low. The S&P 500 index on Monday closed higher: S&P 500 +0.39%, Dow Jones +0.78%, Nasdaq +0.31%. Bullish factors included (1) increased M&A activity after Simon Property Group offered to buy Macerich for $22.4 billion and after Alcoa bought RTI International Metals for $1.26 billion, and (2) strength in energy producers after crude oil rallied.
Jun 10-year T-notes (ZNM15 +0.21%) this morning are up +5 ticks. Jun 10-year T-note futures prices on Monday closed higher. Closes: TYM5 +11.50, FVM5 +7.00. Bullish factors included (1) carry-over support from a rally in German bunds which rose to a 1-week high as the ECB began its QE program, and (2) increased safe-haven demand for T-notes after the yield on the 10-year Greek bond rose to a 2-week high of 10.06% on revived Greek debt concerns when European officials said Greece’s latest proposals were “far” from complete.
The dollar index (DXY00 +0.82%) this morning is up +0.696 *+0.71%) at an 11-1/2 year high. EUR/USD (^EURUSD) is down -0.0091 (-0.84%) at an 11-3/4 year low. USD/JPY (^USDJPY) is up +0.50 (+0.41%) at a 7-1/2 year high. The dollar index on Monday posted an 11-1/2 year high but fell back and closed slightly lower: Dollar index -0.027 (-0.03%), EUR/USD +0.00069 (+0.06%), USD/JPY +0.357 (+0.30%). Bullish factors included (1) carry-over support from Friday’s stronger-than-expected U.S. Feb payrolls report, and (2) weakness in EUR/USD which fell to a 11-1/2 year low as the ECB began its QE program. EUR/USD recovered from an 11-1/2 year low and closed higher after the Eurozone Mar Sentix investor confidence rose more than expected to a 7-1/2 year high.
Apr WTI crude oil (CLJ15 -0.98%) this morning is down -24 cents (-0.48%) and Apr gasoline (RBJ15 -1.07%) is down -0.0176 (-0.94%). Apr crude oil and gasoline prices on Monday settled mixed: CLJ5 +0.39 (+0.79%), RBJ5 -0.0054 (-0.29%). Supportive factors included (1) Genscape’s forecast that Wednesday’s weekly EIA data will show crude supplies at Cushing, OK, delivery point for WTI futures, rose at a slower pace in the week ended Mar 6 than the prior week’s increase of +536,000 bbl, and (2) strength in stocks. A bearish factor was the rally in the dollar index to an 11-1/2 year high.

GLOBAL EVENT CALENDAR03/10/2015

US	1000 ET	Jan wholesale inventories expected -0.1% m/m, Dec +0.1% m/m. Jan wholesale trade sales expected -0.5%, Dec -0.4% m/m.
	1000 ET	Jan JOLTS job openings expected +22,000 to 5.050 million, Dec +181,000 to 5.028 million.
	1200 ET	USDA Mar WASDE crop production.
	1300 ET	Treasury auctions $24 billion 3-year T-notes.
JPN	0200 ET	Japan Feb machine tool orders, Jan +20.4% y/y.
	1950 ET	Japan Feb PPI expected unch m/m and +0.5% y/y, Jan -1.3% m/m and +0.3% y/y.
	1950 ET	Japan Jan machine orders expected -4.0% m/m and -1.0% y/y, Dec +8.3% m/m and +11.4% y/y.

U.S. STOCK CALENDAR03/10/2015

Company	Ticker	Time	Event Description	Period	Estimate
Actavis plc	ACT US	4:30	Shareholders Meeting - M&A Vote	Y 2015
John Wiley & Sons Inc	JW/A US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.97
Bemis Co Inc	BMS US	9:00	Investor Day	Y 2015
Whole Foods Market Inc	WFM US	9:30	Annual General Meeting
Chevron Corp	CVX US	10:00	Analyst Meeting	Y 2015
John Wiley & Sons Inc	JW/A US	10:00	Q3 2015 Earnings Call	Q3 2015
Allergan Inc/United States	AGN US	13:00	Shareholders Meeting - M&A Vote	Y 2015
Landstar System Inc	LSTR US	14:00	Q1 2015 Guidance Call	Q1 2015
Xilinx Inc	XLNX US	15:00	Investor & Analyst Meeting	Y 2015
VeriFone Systems Inc	PAY US	16:30	Q1 2015 Earnings Call	Q1 2015
Adobe Systems Inc	ADBE US	17:00	Analyst Briefing	Y 2015
VeriFone Systems Inc	PAY US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.409
Energen Corp	EGN US		Investment Community Meeting - Day 2	Y 2015
Joy Global Inc	JOY US		Annual General Meeting
Toll Brothers Inc	TOL US		Annual General Meeting
Apple Inc	AAPL US		Annual General Meeting

BARCHART MORNING CALL 12/12

BARCHART MORNING CALL

Friday, December 12th, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH15 -0.40%) this morning are down -0.53% at a 1-month low and European stocks are down -1.34% at a 3-week low as a drop in crude oil to a 5-1/3 year low undercuts energy producers. Chinese economic concerns also weighed on stocks after Nov China industrial output grew less than expected. The plunge in oil prices has also pressured the Russian ruble which plunged to a record low of 57.974 per dollar and has now lost over 30% of its value in the last 3 weeks. Asian stocks closed mixed: Japan +0.66%, Hong Kong -0.27%, China +0.32%, Taiwan +0.16%, Australia -0.22%, Singapore +0.16%, South Korea +0.37%, India -0.91%. Chinese stocks closed higher despite weaker-than-expected China Nov industrial production on speculation the government will boost its stimulus measures, while Japanese stocks rose ahead of Sunday's national elections in Japan where Prime Minister Abe's LDP party is expected to win in a landslide, which will allow him to push ahead with his fiscal policies. Commodity prices are mixed. Jan crude oil (CLF15 -1.07%) is down -0.88% at a 5-1/3 year low after the IEA cut its global oil demand forecast for the fourth time in five months when it said global oil demand in 2015 will grow by 900,000 bpd, 230,000 bpd less than previously forecast, to 93.3 million bpd. Jan gasoline (RBF15 +0.02%) is up +0.24%. Feb gold (GCG15 -0.24%) is down -0.16%. Mar copper (HGH15 +0.39%) is up +0.45%. Agriculture prices are higher. The dollar index (DXY00 -0.37%) is down -0.43%. EUR/USD (^EURUSD) is up +0.32%. USD/JPY (^USDJPY) is down -0.27%. Mar T-note prices (ZNH15 +0.33%) are up +15.5 ticks at a 1-1/2 week high on carry-over support from a rally in European government bonds to record highs as the 10-year German bund yield fell to an all-time low of 0.636%.
China Nov new yuan loans were 852.7 billion yuan, more than expectations of 655.0 billion yuan. Nov aggregate financing, China's broadest measure of credit, rose +1.15 trillion yuan, more than expectations of 895.0 billion yuan and the most in 5 months.
China Nov industrial production rose +7.2% y/y, less than expectations of +7.5% y/y.
China Nov retail sales climbed +11.7% y/y, stronger than expectations of +11.5% y/y.
Eurozone Q3 employment rose +0.2% q/q and +0.6% y/y with the +0.6% y/y increase the largest annual gain since Q2 of 2011.
Eurozone Oct industrial production rose +0.1% m/m, less than expectations of +0.2% m/m. On an annual basis Oct industrial production rose +0.7% y/y, right on expectations.
The German Nov wholesale price index fell -0.7% m/m and -1.1% y/y, a faster pace of decline from Oct when wholesale prices fell -0.6% m/m and -0.7% y/y.
UK Oct construction output unexpectedly fell -2.2% m/m, when expectations were for a +0.7% m/m increase. On an annual basis Oct construction output rose +0.7% y/y, less than expectations of +1.3% y/y.

U.S. STOCK PREVIEW

Today’s preliminary Dec U.S. consumer confidence index from the University of Michigan is expected to rise by +0.7 points to 89.5, adding to November’s rise of +1.9 points to a 7-1/3 year high 88.8. Today’s Nov final-demand PPI report is expected to fall to +1.4% y/y from +1.5% y/y in October. However, excluding food and energy, today’s Nov final-demand core PPI is expected to be unchanged at +1.8% y/y from October. None of the Russell 1000 companies report earnings today. There are no equity conferences today.

OVERNIGHT U.S. STOCK MOVERS

Morgan Stanley (MS +0.03%) was downgraded to 'Neutral' from 'Buy' at Buckingham.
Costco (COST +0.83%) was downgraded to 'Neutral' from 'Buy' at Janney Capital.
Sherwin-Williams (SHW +3.00%) lowered guidance on fiscal 2014 EPS to $8.75-$8.80, below consensus of $8.81, and also lowered guidance on fiscal 2015 EPS to $10.65-$10.85, below consensus of $10.87.
Mindray Medical (MR -0.28%) was downgraded to 'Underweight' from 'Equal Weight' at Morgan Stanley.
Avery Dennison (AVY +0.80%) was upgraded to 'Buy' from 'Hold' at Topeka.
Goodrich Petroleum (GDP +14.21%) was downgraded to 'Underweight' from 'Overweight' at JPMorgan Chase.
Lazard (LAZ -0.95%) was upgraded to 'Outperform' from 'Market Perform' at Keefe Bruyette.
CI Investments reported a 5.16% passive stake in Forest City (FCE.A -0.24%) .
United Technologies (UTX +0.48%) lowered guidance on fiscal 2014 EPS to approximately $6.80, below consensus of $6.87, and also lowered guidance on fiscal 2015 EPS to $7.00-$7.20, less than consensus of $7.27.
Nordson (NDSN +1.58%) reported Q4 EPS of $1.15, higher than consensus of $1.13.
Quiksilver (ZQK -2.63%) reported a Q4 EPS loss of -29 cents, a much bigger loss than consensus of -11 cents.
Esterline (ESL +0.38%) reported Q4 adjusted EPS of $1.82, less than consensus of $1.85.
Adobe (ADBE -0.16%) jumped over 7% in after-hours trading after it reported Q4 adjusted EPS of 36 cents, higher than consensus of 30 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 -0.40%) this morning are down -10.75 points (-0.53%) at a 1-month low. The S&P 500 index on Thursday closed higher: S&P 500 +0.45%, Dow Jones +0.36%, Nasdaq +0.51%. Bullish factors included (1) the +0.7% increase in U.S. Nov retail sales, stronger than expectations of +0.4% and the most in 8 months, (2) the unexpected -3,000 decline in U.S. weekly initial unemployment claims, better than expectations of no change, and (3) slack price pressures after U.S. Nov import prices fell -1.5% m/m and -2.3% y/y, the fastest pace of decline in 1-1/2 years.
Mar 10-year T-notes (ZNH15 +0.33%) this morning are yp +15.5 ticks at a 1-1/2 week high. Mar 10-year T-note futures prices on Thursday fell back from a 1-week high and closed lower: TYH5 -7.00, FVH5 -6.00. Bearish factors included (1) the stronger-than-expected U.S. Nov retail sales, and (2) reduced safe-haven demand for Treasuries after stocks rallied sharply. Losses were limited on carry-over support from a rally in German bund prices to an all-time high.
The dollar index (DXY00 -0.37%) this morning is down -0.377 (-0.43%). EUR/USD (^EURUSD) is up +0.0040 (+0.32%). USD/JPY (^USDJPY) is down -0.32 (-0.27%). The dollar index on Thursday closed higher. Closes: Dollar index +0.392 (+0.44%), EUR/USD -0.00366 (-0.29%), USD/JPY +0.83 (+0.70%). Supportive factors included (1) the stronger-than-expected U.S. Nov retail sales, which may bring the Fed closer to raising interest rates, (2) weakness in the yen after USD/JPY recovered from a 3-week low and closed higher after the Kyodo News reported that Japanese Prime Minister Abe’s party may win more than 300 of 475 lower house seats in the Dec 14 election, which would give Abe a clear mandate to continue his yen-negative fiscal policies.
Jan WTI crude oil (CLF15 -1.07%) this morning is down -53 cents (-0.88%) at a new 5-1/3 year low and Jan gasoline (RBF15 +0.02%) is up +0.0039 (+0.24%). Jan crude and Jan gasoline prices Thursday closed lower with Jan crude at a 5-1/3 year low and Jan gasoline at a 5-year low. Closes: CLF5 -2.88 (-4.51%), RBF5 -0.0781 (-4.53%). Bearish factors included (1) a rally in the dollar, and (2) comments from Saudi Arabian Oil Minister Ali Al-Naimi who said Saudi Arabia will not cut oil production, “the market will correct itself.” A bullish factor was the larger-than-expected increase in U.S. Nov retail sales, which signals economic strength that is positive for fuel demand.

GLOBAL EVENT CALENDAR12/12/2014

US	0830 ET	Nov final-demand PPI expected -0.1% m/m and +1.4% y/y, Oct +0.2% m/m and +1.5% y/y. Nov final-demand PPI ex food & energy expected +0.1% m/m and +1.8% y/y, Oct +0.4% m/m and +1.8% y/y.
	0955 ET	Preliminary Dec U.S. consumer confidence (University of Michigan) expected +0.7 to 89.5, Nov +1.9 to 88.8.
CHI	0030 ET	China Nov industrial production expected +7.5% y/y, Oct +7.7% y/y
	0030 ET	China Nov retail sales expected +11.5% y/y, Oct +11.5% y/y.
UK	0430 ET	UK Oct construction output expected +0.7% m/m and +1.3% y/y, Sep +1.8% m/m and +3.5% y/y.
EUR	0500 ET	Eurozone Oct industrial production expected +0.2% m/m and +0.7% y/y, Sep +0.6% m/m and +0.6% y/y.
	0500 ET	Eurozone Q3 employment, Q2 +0.2% q/q and +0.4% y/y.

U.S. STOCK CALENDAR12/12/2014

Company	Ticker	Time	Event Description	Period	Estimate
WW Grainger Inc	GWW US	8:00	November 2014 Sales and Revenue Call	2014
WW Grainger Inc	GWW US	8:00	November 2014 Sales and Revenue Release	2014
Principal Financial Group Inc	PFG US	8:00	Roadshow - Europe - Day 2	Y 2014
MetLife Inc	MET US	8:00	Business Update Call
Alnylam Pharmaceuticals Inc	ALNY US	8:00	R&D Day	Y 2014
Nordson Corp	NDSN US	8:30	Q4 2014 Earnings Call	Q4 2014
Centene Corp	CNC US	8:30	Investor Meeting	Y 2014
Nu Skin Enterprises Inc	NUS US	12:00	Investor Day	Y 2014
Twenty-First Century Fox Inc	FOXA US		U.S. Box Office Release of Movie Exodus: Gods and Kings""
Palo Alto Networks Inc	PANW US		Annual General Meeting

Barchart Moring Call 5/7

BARCHART MORNING CALL

Tuesday, May 7th, 2013View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM13 +0.11%) this morning are up +0.12% at another fresh record high. European stocks rose +0.64% to a 1-3/4 year high after German factory orders unexpectedly increased. Another positive for global stocks was the action by the Reserve Bank of Australia to cut its benchmark interest rate by 25 bp. Portugal's 10-year government bond yield slipped to 5.44%, the lowest in 2-3/4 years as the country readies the markets for a sale of 3 billion euros of 10-year government bonds, its first sale of a new bond since it asked for a bailout 2 years ago. Asian stocks closed mixed: Japan +3.55%, Hong Kong +0.58%, China +0.16%, Taiwan -0.07%, Australia -0.24%, Singapore +0.03%, South Korea -0.53%, India +1.09%. Commodity prices are mixed. June WTI crude oil (CLM13 -0.52%) is down -0.48%. June gasoline (RBM13 -0.43%) is down -0.45%, June natural gas (NGM13 -0.97%) is down -0.62%, June gold (GCM13 -0.35%) is down -0.54%, July copper (HGN13 -0.30%) is down -0.20%. Agriculture prices are higher. The dollar index (DXY00 -0.24%) is lower by -0.24%. EUR/USD (^EURUSD) is up +0.40%. USD/JPY (^USDJPY) is down -0.08%. June 10-year T-note futures prices (ZNM13 -0.02%) are little changed, down -0.5 of a tick.
German Mar factory orders unexpectedly climbed +2.2% m/m, stronger than expectations for a -0.5% m/m decline, while factory orders fell -0.4% y/y, better than expectations for a -2.9% y/y decline.
The UK April BRC shop price index weakened to a +0.4% increase from a +1.4% gain in March.
The UK April Lloyds employment confidence improved slightly to -41 from -45 in March.
The Reserve Bank of Australia (RBA) cut its benchmark interest rate by 25 bp to a record low 2.75% and RBA Governor Stevens said "The board has previously noted that the inflation outlook would afford scope to ease further and that a further decline in the cash rate was appropriate to encourage sustainable growth in the economy."

U.S. STOCK PREVIEW

Today’s March consumer credit report is expected to show an increase of +$15.5 billion, adding to the increase of +$18.139 billion seen in February. The Treasury today will sell $32 billion in 3-year T-notes to kick off this week's $72 billion quarterly refunding operation. There are 22 of the S&P 500 companies that report earnings today. Notable earnings reports include Emerson Electric (consensus $0.78), McKesson (2.31), Disney (0.77), Marathon Oil (0.72), Electronic Arts (0.58), Whole Foods (0.73), Williams Companies (0.24), Symantec (0.38).
Conferences during the remainder of this week include American Gas Association (AGA) Financial Forum on Mon, Mizuho Securities USA Healthcare Access Day on Tue, Barclays Chemical ROC Star Conference on Tue, Robert W. Baird Growth Stock Conference on Tue-Thu, Jefferies Global Technology, Media and Telecom Conference on Tue-Thu, ISI Bermuda Energy Conference on Wed, 17th Annual International Cash and Treasury Management Conference on Wed-Thu, Wells Fargo Industrial and Construction Conference on Wed-Thu, Skybridge Alternatives Conference (SALT)-Las Vegas on Wed-Thu, Sanford C. Bernstein & Co IT Services Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Fossil (FOSL +0.71%) reported Q1 EPS of $1.08, better than consensus of 97 cents.
NRG Energy (NRG +0.11%) reported a Q1 EPS loss of -37 cents, wider than consensus of a -29 cent loss.
Discovery Communications (DISCA -0.24%) reported Q1 EPS of 63 cents, weaker than consensus of 64 cents.
According to an AP report, the Senate late Monday passed a bill allowing states to collect a tax on Internet purchases.
DCP Midstream (DPM +0.23%) reported Q1 adjusted EPS of 63 cents, below consensus of 64 cents.
Mindray Medical (MR +1.93%) reported Q1 adjusted EPS of 53 cents, much better than consensus of 41 cents.
Vantiv (VNTV -0.43%) reported Q1 adjusted EPS of 31 cents, better than consensus of 30 cents.
Alleghany (Y +1.83%) reported Q1 EPS of $11.67, well ahead of consensus of $8.01.
Chico's FAS (CHS -0.98%) was initiated with an "Outperform" at Wells Fargo with a price range of $20 to $22 a share.
Frontier Communications (FTR +1.49%) reported Q1 EPS of 5 cents, lower than consensus of 6 cents.
Ruckus Wireless (RKUS +5.15%) reported Q1 adjusted EPS of 3 cents, weaker than consensus of 4 cents.
Scotts Miracle-Gro (SMG +1.64%) reported Q2 EPS of $1.60, well below consensus of $2.00.
First Solar (FSLR +3.67%) fell 3% in after-hours ttrading after it reported Q1 EPS of 69 cents, below consensus of 75 cents. The stock then recovered all of its losses and moved up over 1% when it reaffirmed its guidance for fiscal 2012 and announced a reduction in its work force of about 150 employees.
Norwegian Cruise Line (NCLH +0.92%) reported Q1 adjusted EPS of 6 cents, double the consensus of 3 cents.
Anadarko (APC +1.18%) reported Q1 EPS ex-items $1.08, stronger than consensus of 94 cents.
Matson (MATX +0.29%) reported Q1 EPS of 21 cents, better than consensus of 15 cents.

MARKET COMMENTS

June E-mini S&Ps (ESM13 +0.11%) this morning are up +2.00 points (+0.12%) at a new record high. The S&P 500 index on Monday posted a fresh record high and closed higher. Stocks found carry-over support from last Friday's gains after U.S. employment in April rose more than expected. Also, stocks continue to receive a boost from strong earnings results as 73% of the 407 S&P 500 companies that have reported Q1 earnings results thus far have beaten expectations. Closes: S&P 500 +0.19%, Dow Jones -0.03%, Nasdaq 100 +0.37%.
June 10-year T-notes (ZNM13 -0.02%) this morning are little changed, down -0.5 of a tick. June 10-year T-note futures prices on Monday closed lower. T-notes added to Friday's losses and posted a fresh 3-week low as stronger equities reduced the safe-haven demand for Treasuries, along with supply pressures ahead of this week's May refunding of $72 billion of T-notes and T-bonds that begins Tuesday with the Treasury's $32 billion 3-year T-note auction. Closes: TYM3 -6.0, FVM3 -2.75.
The dollar index (DXY00 -0.24%) this morning is lower by -0.201 (-0.24%). EUR/USD (^EURUSD) is up +0.0052 (+0.40%) and USD/JPY (^USDJPY) is down -0.08 (-0.08%). The dollar index on Monday closed higher. EUR/USD was knocked lower after comments from ECB Executive Board member Coeure who said the ECB is ready to cut interest rates further if the economic outlook in the Eurozone worsens. USD/JPY rallied up to a 1-week high as the yen weakened after stock market strength reduced the safe-haven demand for the yen. Closes: Dollar index +0.190 (+0.23%), EUR/USD -0.00406 (-0.31%), USD/JPY +0.326 (+0.33%).
June WTI crude oil (CLM13 -0.52%) this morning is down -46 cents a barrel (-0.48%). June gasoline (RBM13 -0.43%) is down -1.28 cents per gallon (-0.45%). June crude oil and gasoline on Monday rallied sharply in overnight trade after Israel made several air strikes in Syria over the weekend, but prices fell back from their best levels on speculation there won't be much effect on oil flow through the Middle East. Another negative factor that pulled Jun crude off of a 1-month high was the stronger dollar. Closes: CLM3 +0.55 (+0.58%), RBM3 +0.0403 (+1.43%).

GLOBAL EVENT CALENDAR05/07/2013

US	1300 ET	Treasury auctions $32 billion 3-year T-notes.
	1500 ET	Mar consumer credit expected +$15.5 billion, Feb +$18.139 billion.
	1630 ET	API weekly U.S. oil statistics.
GER	0600 ET	German Mar factory orders (sa) expected -0.5% m/m and -2.9% y/y, Feb +2.3% m/m and unch y/y (nsa).
CHI	n/a	China Apr trade balance expected +$15.5 billion, Mar -$0.88 billion. Apr exports expected +10.0% y/y, Mar +10.0% y/y. Apr imports expected +13.0% y/y, Mar +14.1% y/y.

U.S. STOCK CALENDAR05/07/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
DIRECTV	DTV US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	1.095
Health Care REIT Inc	HCN US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	0.904
Emerson Electric Co	EMR US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	0.781
NRG Energy Inc	NRG US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	-0.294
Molson Coors Brewing Co	TAP US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	0.343
International Flavors & Fragrances Inc	IFF US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	1.132
FirstEnergy Corp	FE US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	0.686
Fossil Inc	FOSL US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	0.969
Discovery Communications Inc	DISCA US	7:00	Q1 2013 Earnings Release	Q1 2013	0.645
Perrigo Co	PRGO US	8:00	Q3 2013 Earnings Release	Q3 2013	1.444
Discovery Communications Inc	DISCA US	8:30	Q1 2013 Earnings Call	Q1 2013
EOG Resources Inc	EOG US	9:00	Q1 2013 Earnings Call	Q1 2013
NRG Energy Inc	NRG US	9:00	Q1 2013 Earnings Call	Q1 2013
Fossil Inc	FOSL US	9:00	Q1 2013 Earnings Call	Q1 2013
Anadarko Petroleum Corp	APC US	10:00	Q1 2013 Earnings Call	Q1 2013
Baxter International Inc	BAX US	10:00	Annual General Meeting	Y 2013
Health Care REIT Inc	HCN US	10:00	Q1 2013 Earnings Call	Q1 2013
Boston Scientific Corp	BSX US	10:00	Annual General Meeting	Y 2013
Vornado Realty Trust	VNO US	10:00	Q1 2013 Earnings Call	Q1 2013
Gannett Co Inc	GCI US	10:00	Annual General Meeting	Y 2013
Perrigo Co	PRGO US	10:00	Q3 2013 Earnings Call	Q3 2013
International Flavors & Fragrances Inc	IFF US	10:00	Q1 2013 Earnings Call	Q1 2013
Molson Coors Brewing Co	TAP US	11:00	Q1 2013 Earnings Call	Q1 2013
Kinder Morgan Inc/DE	KMI US	11:00	Annual General Meeting	Y 2013
Cliffs Natural Resources Inc	CLF US	11:30	Annual General Meeting	Y 2013
Sigma-Aldrich Corp	SIAL US	12:00	Annual General Meeting	Y 2013
Wynn Resorts Ltd	WYNN US	13:00	Annual General Meeting	Y 2013
FirstEnergy Corp	FE US	13:00	Q1 2013 Earnings Call	Q1 2013
DIRECTV	DTV US	14:00	Q1 2013 Earnings Call	Q1 2013
Emerson Electric Co	EMR US	14:00	Q2 2013 Earnings Call	Q2 2013
Molson Coors Brewing Co	TAP US	14:00	Q1 2013 Earnings Call - Follow-Up Session	C1 2013
Murphy Oil Corp	MUR US	15:00	Analyst Meeting	Y 2013
Danaher Corp	DHR US	15:00	Annual General Meeting	Y 2013
Mondelez International Inc	MDLZ US	16:00	Q1 2013 Earnings Release	Q1 2013	0.334
McKesson Corp	MCK US	16:00	Q4 2013 Earnings Release	Q4 2013	2.308
CA Inc	CA US	16:15	Q4 2013 Earnings Release	Q4 2013	0.553
Walt Disney Co/The	DIS US	16:15	Q2 2013 Earnings Release	Q2 2013	0.77
CH Robinson Worldwide Inc	CHRW US	16:15	Q1 2013 Earnings Release	Q1 2013	0.685
CA Inc	CA US	16:30	Q4 2013 Earnings Call	Q4 2013
Mondelez International Inc	MDLZ US	17:00	Q1 2013 Earnings Call	Q1 2013
DaVita HealthCare Partners Inc	DVA US	17:00	Q1 2013 Earnings Call	Q1 2013
McKesson Corp	MCK US	17:00	Q4 2013 Earnings Call	Q4 2013
Walt Disney Co/The	DIS US	17:00	Q2 2013 Earnings Call	Q2 2013
Electronic Arts Inc	EA US	17:00	Q4 2013 Earnings Call	Q4 2013
Whole Foods Market Inc	WFM US	17:00	Q2 2013 Earnings Call	Q2 2013
TripAdvisor Inc	TRIP US	17:00	Q1 2013 Earnings Call	Q1 2013
BMC Software Inc	BMC US	17:00	Q4 2013 Earnings Call	Q4 2013
CH Robinson Worldwide Inc	CHRW US	17:00	Q1 2013 Earnings Call	Q1 2013
Symantec Corp	SYMC US	17:00	Q4 2013 Earnings Call	Q4 2013
DaVita HealthCare Partners Inc	DVA US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	1.797
Marathon Oil Corp	MRO US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	0.719
Electronic Arts Inc	EA US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	0.575
Whole Foods Market Inc	WFM US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	0.729
Williams Cos Inc/The	WMB US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	0.24
TripAdvisor Inc	TRIP US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	0.468
Symantec Corp	SYMC US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	0.381
United Parcel Service Inc	UPS US		Roadshow - Montreal	Y 2013
United Parcel Service Inc	UPS US		Roadshow - Kansas City	Y 2013

Barchart Morning Call 8/6

Barchart Morning Call

BC - 1 hr 31 mins ago

Overnight Developments

• Sep E-mini S&Ps this morning are trading mildly higher by +0.18% due to this morning's +0.50% rally in European stocks. Commodity prices this morning are down by an average of -0.51% with Sep crude oil down -0.47%, gold up +0.26%, copper down -0.27%, and agricultural commodities trading mostly lower. The dollar index this morning is up +0.16% and EUR/USD is down -0.19% after Italian Prime Minister Monti said over the weekend that the Eurozone is showing signs of "psychological dissolution." Sep 10-year T-notes are up 6.5 ticks.
• Asian stocks today closed higher across the board on carry-over support from last Friday's stronger-than-expected U.S. July payroll report of +163,000. Chinese stocks also received a boost from an announcement on Sunday by Chinese securities regulators that allows companies to pay employees up to 30% of their wages with company stock acquired in the secondary market. Closes: Japan +2.00%, Hong Kong +1.69%, China +1.35%, Taiwan +0.95%, Australia +1.21%, Singapore +0.67%, South Korea +2.27%, India +1.25%, Turkey +0.93%.
• Knight Capital Group reportedly received a $400 million cash infusion over the weekend via a convertible bond investment by several financial firms, thus averting bankruptcy. The capital injection should prevent any fresh disruptions from Knight, which accounts for some 10% of market-making stock trading volume.
• Trading in Spanish stocks at the Bolsas & Mercados Espanoles was halted today at 10:05 AM in Madrid due to a technical default. There was no word on when trading would resume.
• Italian Prime Minister Mario Monti said in an interview in Der Spiegel magazine published over the weekend that the Eurozone is showing signs of "psychological dissolution."
• Troika officials over the weekend wrapped up an initial examination of Greece's austerity progress and said they will return in early September. An IMF representative said, "We made a lot of good progress" and said there was agreement that Greece needs to strengthen its policy efforts.
• Japan's June leading index report fell by 2.6 points to 92.6 and was 0.3 points weaker than market expectations of 92.9. The June coincident index fell 2.0 points to 93.8 and was 0.1 point weaker than market expectations of 93.9.
• UK July Halifax house prices fell -0.6% m/m, which was in line with market expectations and reversed part of June's revised +0.8% increase.
  Market Comments
  • Sep E-mini S&Ps this morning are up 2.50 points (+0.18%) on support from today's 0.50% rally in European stocks. The U.S. stock market Friday rallied up to 3-month highs and settled sharply higher after July U.S. non-farm payrolls rose more than forecast and after Spanish and Italian bond yields fell when members of German Chancellor Merkel's CDU party said they wouldn't stand in the way of additional ECB bond purchases: S&P 500 +1.90%, Dow Jones +1.69%, Nasdaq 100 +1.92%. Another positive for stocks was the larger-than-expected increase in the July ISM non-manufacturing index.
  • Sep 10-year T-notes this morning are up 6.5 ticks on some short-covering after last Friday's sharp sell-off. Sep 10-year T-note prices Friday plunged to a 1-month low after stocks soared when the U.S. economy added more jobs than expected last month, which dampens speculation the Fed will need to start a QE 3 asset purchase program to stimulate the economy: TYU2 -23, FVU2 -10. Also, safe-haven demand for Treasuries was reduced after Spanish 10-year bond yields plunged -31 bp and fell back below the critical 7.00% yield level.
  • The dollar index this morning is up +0.16% with EUR/USD down -0.19% and USD/JPY down -0.20%. The dollar index on Friday settled sharply lower as a rally in stocks curbed the safe-haven demand for the dollar while the euro strengthened after Italian and Spanish bond yields fell when ECB Council member Liikanen said the size of a new ECB bond purchase program would be "adequate to reach its objective" of lowering Italian and Spanish borrowing costs: Dollar index -0.986 (-1.18%), EUR/USD +0.02057 (+1.69%), USD/JPY +0.228 (+0.29%).
  • Sep WTI crude oil prices this morning are down -0.43 (-0.47%) and Sep gasoline is down -0.0306 (-1.04%) on this morning's higher trade in the dollar index and on some long liquidation pressure after last Friday's sharp rally. Crude oil and gasoline prices Friday moved sharply higher after the U.S. economy added more jobs than expected last month along with reduced concern over the European debt crisis after members of German Chancellor Merkel's ruling CDU party said they wouldn't stand in the way of ECB Draghi's plan to buy more government bonds: CLU2 +4.27 (+4.90%), RBU2 +0.0614 (+2.14%). Sep crude posted a 2-week high and Sep gasoline rose to a 2-1/2 month high.
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    Today's U.S. Earnings Reports Earnings reports (ranked by market cap): BRK-Berkshire Hathaway (Consensus $1,780.00), CTSH-Cognizant Technology Solutions (0.86), BXP-Boston Properties (0.43), VNO-Vornado Realty Trust (-0.07), PAA-Plains All Anerican Pipeline (1.68), HCN-Health Care REIT (0.26), CF-CF Industries Holdings (8.71), CHK-Chesapeake Energy (0.07), HCA-HCA Holdings (0.78), AES-AES Corp. (0.27), BAP-Credicorp Ltd. (2.29), CXO-Concho Resources (0.99), TSN-Tyson Foods (0.55), KOS-Kosmos Energy Ltd. (-0.10), NGLS-Targa Resources Partners LP (0.40), MR-Mindray Medical International (0.46).
    Global Financial Calendar
    

    Monday 8/6/12
    United States
    0900 ET	Fed Chairman Ben Bernanke speaks via prerecorded video on "Economic Measurement" at the 32nd General Conference of the International Association for Research in Income and Wealth in Cambridge, MA.
    1100 ET	USDA weekly grain export inspections.
    1130 ET	Weekly 3-mo and 6-mo T-bill auctions.
    1600 ET	USDA Crop Progress
    Japan
    0100 ET	Japan June leading index CI expected -2.3 to 92.9, May 95.2. June coincident index CI expected -1.9 to 93.9, May 95.8.
    Euro-Zone
    0430 ET	Aug Euro-Zone Sentix investor confidence expected -1.4 to -31.0, July -0.7 to -29.6.

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