Showing posts with label OA. Show all posts

Saturday, September 30, 2017

Aerojet Rocketdyne: A Great Choice for your Portfolio

My Seeking Alpha Article - Aerojet Rocketdyne: A Great Choice for your Portflio - Compares Aerojet Rockerdyne (AJRD) to Lockheed Martin (LMT), Orbitsl ATK (OA) and Kratos Defense (KTOS)

Monday, September 18, 2017

Morning Call 9/18

Morning Call

Barchart Morning Call

Barchart.com - Mon Sep 18, 6:41AM CDT

OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ17 +0.18%) this morning are up +0.22% at a new record nearest-futures high and European stocks are up +0.38% at a 2-month high. Increased M&A activity is giving equity markets a boost after Northrop Grumman agreed to buy Orbital ATK for $7.8 billion. European stocks found support on an upbeat monthly report from the Bundesbank that said, "the German economy may continue its path of strong expansion in Q3 of 2017." The rally in global equity markets has reduced the safe-haven demand for gold with Dec COMEX gold (GCZ17 -0.48%) down -0.48%at a 2-week low. Asian stocks settled mostly higher: Japan closed for holiday, Hong Kong +1.27%, China +0.28%, Taiwan +0.48%, Australia +0.45%, Singapore +1.01%, South Korea +1.67%, India +0.47%. Chinese stocks rose, led by gains in developers and property stocks, on the prospects of less property restrictions after China Aug new home prices showed the smallest amount of increases since Jan.

The dollar index (DXY00 -0.03%) is down -0.02%. EUR/USD (^EURUSD) is up +0.19%. USD/JPY (^USDJPY) is up +0.37% at a 1-1/2 month high.

Dec 10-year T-note prices (ZNZ17 -0.06%) are down -2.5 ticks.

In its monthly report for Sep, the Bundesbank said, "the German economy may continue its path of strong expansion in Q3 of 2017, even if with slightly less momentum than in the first half of the year."

China Aug new home prices rose in 46 of 70 cities tracked by the government, down from 56 cities that rose in Jul, the smallest number of increases since Jan.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Sep NAHB housing market index (expected -1 to 67, Aug +4 to 68), (2) USDA weekly grain export inspections, (3) USDA crop conditions and progress report.

Notable Russell 1000 earnings reports today include: none.

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

Equity conferences this week: Stephens Bank CEO Forum on Mon-Tue, CECP CEO Investor Forum on Tue, Forum International Supply Chain Expo on Tue, J.P. Morgan U.S. All Stars Conference on Tue, Raymond James North America Equities Conference on Tue, D.A. Davidson Engineering & Construction Conference on Wed, Electronic Design Process Symposium on Thu.

OVERNIGHT U.S. STOCK MOVERS

Orbital ATK (OA +1.52%) surged 20% in pre-market trading after the company was acquired by Northrop Grumman for $7.8 billion, or $134.50 a share.

Tech Data (TECD +1.09%) was initiated a new 'Buy' at Needham & Co. with a 12-month target price of $100.

Caterpillar (CAT +0.74%) was upgraded to 'Buy' from 'Neutral' at UBS with a price target of $140.

Resolute Energy (REN +9.21%) was downgraded to 'Market Perform' from 'Outperform' at BMO Capital Markets.

Finish Line (FINL +2.84%) was downgraded to 'Underweight' from 'Neutral' with a 12-month target price of $8.

Applied Materials (AMAT +0.19%) was upgraded to 'Outperform' from 'Sector Perform' at RBC Capital Markets with a target price of $55.

Brookfield Infrastructure Partners LP (BIP +0.07%) rose over 2% in after-hours trading after Exame reported that it is weighing a possible bid for JBS SA, the world's largest meat producer

Weibo (WB -0.81%) lost -0.3% in after-hours trading after Chief Financial Officer Herman Yu resigned to "pursue other opportunities."

Horizon Pharma (HZNP -1.46%) gained almost 1% in after-hours trading after Reuters reported that people familiar with the situation said the company was working with Morgan Stanley to review strategic options for its primary care unit, including a potential sale.

Equifax (EFX -3.81%) said its Chief Information Officer David Webb and Chief Security Officer Susan Mauldin are retiring effective immediately.

Neos Therapeutics (NEOS +2.22%) rose over 3% but then reversed course and dropped 6% in after-hours trading. The stock rallied initially after it received FDA approval for its Adzenys ER drug for treatment of Attention Deficit Hyperactivity Disorder in patients 6 years and older. However, the stock erased its gains and headed lower after a BMO Capital Markets analyst said there may be some "financing overhang" on the stock as the company may need additional funding in the future to get to breakeven.

MARKET COMMENTS

Dec S&P 500 E-mini stock futures (ESZ17 +0.18%) this morning are up +5.50 points (+0.22%) at a new record-nearest-futures high. Friday's closes: S&P 500 +0.18%, Dow Jones +0.29%, Nasdaq +0.32%. The S&P 500 on Friday rose to a new all-time high and closed higher on strength in technology stocks and on the stronger-than-expected Sep Empire manufacturing index of -0.8 to 24.4 (stronger than expectations of -7.2 to 18.0). There was also technical buying with the new all-time high. Stocks were undercut by geopolitical tensions after North Korea fired another missile over Japan and by the unexpected -0.2% decline in the U.S. Aug retail sales report (vs expectations of +0.1%).

Dec 10-year T-note prices (ZNZ17 -0.06%) this morning are down -2.5 ticks. Friday's closes: TYZ7 -3.00, FVZ7 -2.75. Dec 10-year T-notes on Friday closed lower on negative carry-over from a rise in global yields after the 10-year UK Gilt yield rose to a 7-1/4 month high and the German bund yield climbed to a 1-month high. There was also reduced safe-haven demand for T-notes after the S&P 500 rose to a new record high. T-notes were supported by the unexpected declines in U.S Aug retail sales and Aug manufacturing production.

The dollar index (DXY00 -0.03%) this morning is down -0.014 (-0.02%). EUR/USD (^EURUSD) is up +0.0023 (+0.19%) and USD/JPY (^USDJPY) is up +0.41 (+0.37%) at a 1-1/2 month high. Friday's closes: Dollar Index -0.252 (-0.27), EUR/USD +0.0026 (+0.22%), USD/JPY +0.59 (+0.54%). The dollar index on Friday closed lower on the weaker-than-expected U.S. Aug retail sales and manufacturing production reports, which were dovish for Fed policy. There was also strength in GBP/USD which soared to a 14-1/2 month high on carry-over from Thursday's BOE meeting where the BOE said it sees scope for stimulus reduction in the coming months.

Oct crude oil (CLV17 -0.54%) this morning is down -7 cents (-0.14%) and Oct gasoline (RBV17 -0.26%) is +0.0021 (+0.13%). Friday's closes: Oct WTI crude unch, Oct gasoline +0.0330 (+2.03%). Oct crude oil and gasoline on Friday settled mixed. Crude oil prices were supported by the weaker dollar and by an increase in the crack spread for the first time in the last 3 sessions, which may boost refinery demand for crude to refine into gasoline. Crude oil prices were undercut by the weaker-than-expected U.S. Aug retail sales and manufacturing production reports, which signaled reduced energy demand.

Metals prices this morning are mixed with Dec gold (GCZ17 -0.48%) -6.3 (-0.48%) at a 2-week low, Dec silver (SIZ17-0.71%) -0.121 (-0.68%) at a 2-week low and Dec copper (HGZ17 +0.76%) +0.022 (+0.75%). Friday's closes: Dec gold -4.1(-0.31%), Dec silver -0.088 (-0.49%), Dec copper -0.0085 (-0.29%). Metals on Friday closed lower with Dec copper at a 1-month low. Metals prices were undercut by the rally in the S&P 500 to a new record high, which curbed safe-haven demand for precious metals, and by the unexpected decline in U.S. Aug manufacturing production, which signals reduced demand for industrial metals.

GLOBAL EVENT CALENDAR09/18/2017

		Monday, Sep 18
US	1000 ET	Sep NAHB housing market index expected -1 to 67, Aug +4 to 68.
	1100 ET	USDA weekly grain export inspections.
	1600 ET	USDA crop conditions and progress report.
		Tuesday, Sep 19
US	0830 ET	Aug housing starts expected +1.7% to 1.175 million, Jul -4.8% to 1.155 million. Aug building permits expected -0.8%to 1.220 million, Jul -3.5% to 1.230 million.
	0830 ET	Aug import price index expected +0.4% m/m and +2.2%, July +0.1% m/m and +1.5% y/y. Aug import price index ex-petroleum expected +0.2%, July unchanged. Aug export price index expected +0.2% m/m, Jul +0.4% m/m and +0.8% y/y.
	0830 ET	Q2 current account balance expected -$112.4 billion, Q1 -$116.8 billion
	1030 ET	EIA Weekly Petroleum Status Report.
	1030 ET	FOMC begins 2-day policy meeting.

U.S. STOCK CALENDAR09/18/2017

Name	Ticker	Time	Description	Period	Estimate
Patterson Cos Inc	PDCO US		Annual General Meeting

Wednesday, March 15, 2017

Orbital ATK - Chart of the Day

Orbital ATK (OA) is the Barchart Chart of the Day. The aerospace defense company has a Trend Spotter buy signal, a Weighted Alpha of 32.58+ and gained 30.30% in the last year.

The Chart of the Day belongs to Orbital ATK (OA). I found the aerospace defense stock by using Barchart to sort today's Top Stock to Own list first for the most frequent number of new highs in the last month, then again for technical buy signal of 80% or better. Since the Trend Spotter signaled a buy om 2/21 the stock gained 11.77%.

Orbital ATK, Inc. designs, builds and delivers space, defense and aviation-related systems. The company operates in three segments: Aerospace Group, Defense Group and Sporting Group. Its product include launch vehicles and related propulsion systems; satellites and associated components and services; composite aerospace structures; tactical missiles, subsystems and defense electronics; precision weapons, armament systems and ammunition. Orbital ATK, Inc., formerly known as Alliant Techsystems Inc., is headquartered in Dulles, Virginia.

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
14 new highs and up 14.39% in the last month
Relative Strength Index 83.71%
Technical support level at 99.50
Recently traded at 101.75 with a 50 day moving average of 90.85

Fundamental factors:

Market Cap $5.86 billion
Dividend yield 1.28%
Revenue expected to grow 3.30% this year and another 4.10% next year
Earnings estimated to increase 9.70% this year, an additional 10.30% next year and compound at an annual rate of 9.80% for the next 5 years
Wall Street analysts issued 6 buy and 1 hold recommendation on the stock

Wednesday, December 21, 2016

MORNING CALL 12/21

Barchart Morning Call

Barchart.com - 3 hours ago

OVERNIGHT MARKETS AND NEWS

Mar E-mini S&Ps (ESH17 -0.08%) are little changed, down -0.07% in uninspired trade, and European stocks are down -0.37% on weakness in bank stocks. Spanish bank stocks sold-off, with Banco Sabadell SA down over 7% and Banco Popular down 10%, which put pressure on the overall market after the EU Court of Justice ruled that borrowers in Spain who paid too much interest on home loans pre-dating a May 2013 Spanish court ruling on mortgage floors are entitled to a refund from their banks. Stock losses were contained on strength in energy producing companies as Feb WTI crude oil (CLG17 +0.56%) is up +0.68% after the API reported late yesterday that U.S. crude supplies dropped -4.15 million bbl last week. Also, reduced market anxiety is positive for stock prices as the VIX volatility index slid to a 4-1/4 month low. Asian stocks settled mixed: Japan -0.26%, Hong Kong +0.37%, China +1.11%, Taiwan -0.41%, Australia +0.40%, Singapore -0.33%, South Korea -0.19%, India -0.25%. Japan's Nikkei Stock Index posted a new 1-year high, but gave up its advance and closed lower as the yen strengthened against the dollar, which undercut exporter stocks.

The dollar index (DXY00 -0.35%) is down -0.15%. EUR/USD (^EURUSD) is up +0.21%. USD/JPY (^USDJPY) is down -0.48%.

Mar 10-year T-note prices (ZNH17 +0.05%) are up +2 ticks and garnered support from a rally in German bunds which climbed to a 3-week high.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -4.0% with purchase sub-index -3.3% and refi sub-index -3.6%), (2) Nov existing home sales (expected -1.8% to 5.50 million, Oct +2.0% to 5.60 million), (3) EIA Weekly Petroleum Status Report.

Russell 1000 earnings reports today include: Accenture (consensus $1.50), Paychex (0.56), Bed Bath & Beyond (0.98), Red Hat (0.58), Micron Technology (0.27), Orbital ATK (1.39).

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

Equity conferences this week: none.

OVERNIGHT U.S. STOCK MOVERS

Goldman Sachs (GS +1.68%) was downgraded to 'Neutral' from 'Overweight' at Atlantic Securities with a 12-month target price of $240.

JetBlue Airways (JBLU +1.24%) was downgraded to 'Market Perform' from 'Outperform' at Raymond James.

Sunoco LP (SUN -8.02%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse with a target price of $31.

Goldcorp (GG -0.40%) was upgraded to 'Buy' from 'Hold' at TD Securities with a 12-month target price of $18.50.

Texas Instruments (TXN +0.64%) was rated a new 'Positive' at Susquehanna with a 12-month target price of $85.

Fluor (FLR -0.57%) gained 1% in after-hours trading after it was awarded a contract by Novo Nordisk to build a $2 billion manufacturing facility in Clayton, North Carolina.

BB&T (BBT +1.69%) boosted its 2016/17 share buyback program by $200 million.

Nike (NKE +1.85%) climbed 3% in after-hours trading after it reported Q2 EPS of 50 cents, higher than consensus of 43 cents. Under Armour (UAA -0.33%) also gained 1% on the news.

FedEx (FDX +0.57%) dropped 3% in after-hours trading after it reported Q2 adjusted EPS of $2.80, weaker than consensus of $2.91.

DexCom (DXCM +0.08%) gained almost 2% in after-hours trading after the FDA approved its G5 Mobile CGM system as the first and only continuous glucose monitoring system that can be used without finger pricking to test glucose levels.

Steelcase (SCS +3.38%) slumped 8% in after-hours trading after it reported Q3 revenue of $786.5 million, less than consensus of $787 million, and then lowered guidance on Q4 revenue to $735 million-$760 million, below consensus of $762 million.

MARKET COMMENTS

Mar E-mini S&Ps (ESH17 -0.08%) this morning are down -1.50 points (-0.07%). Tuesday's closes: S&P 500 +0.36%, Dow Jones +0.46%, Nasdaq +0.38%. The S&P 500 on Tuesday closed higher on carry-over support from a rally in Japan's Nikkei Stock Index to a 1-year high after Japan's Cabinet Office raised its Japan 2017 GDP forecast to 1.5% from +1.2%. In addition, energy producer stocks were boosted as the price of crude oil rose +0.85%.

Mar 10-year T-notes (ZNH17 +0.05%) this morning are up +2 ticks. Tuesday's closes: TYH7 -4.50, FVH7 -2.25. Mar 10-year T-notes on Tuesday closed lower on reduced safe-haven demand with the rally in stocks and on higher inflation expectations from the rally in crude oil prices.

The dollar index (DXY00 -0.35%) this morning is down -0.160 (-0.15%). EUR/USD (^EURUSD) is up +0.0022 (+0.21%). USD/JPY (^USDJPY) is down -0.57 (-0.48%). Tuesday's closes: Dollar index +0.150 (+0.15%), EUR/USD -0.0014 (-0.13%), USD/JPY +0.77 (+0.66%). The dollar index on Tuesday rallied to a 14-year high and closed higher on the increase in the 10-year T-note yield. In addition, there was strength in USD/JPY after the BOJ maintained its asset-purchase program and Japan's Cabinet Office lowered its Japan 2017 CPI estimate, which bolsters the case for additional BOJ easing.

Feb WTI crude oil prices (CLG17 +0.56%) this morning are up +36 cents (+0.68%) and Feb gasoline (RBG17 +0.35%) is +0.0059 (+0.37%) at a new 1-1/2 month high. Tuesday's closes: Feb crude +0.45 (+0.85%), Feb gasoline +0.0349 (+2.20%). Feb crude oil and gasoline on Tuesday closed higher with Feb gasoline at a 1-1/2 month high. Crude oil prices were boosted by expectations for Wednesday's EIA crude inventories to decline by -2.5 million bbl and by the increase in the crack spread to a 1-1/2 month high, which may boost refinery demand for crude to refine into gasoline. Crude oil prices were undercut by the rise in the dollar index to a 14-year high.

GLOBAL EVENT CALENDAR12/21/2016

		Wednesday, Dec 21
US	0700 ET	Weekly MBA mortgage applications, previous -4.0% with purchase sub-index -3.3% and refi sub-index -3.6%.
	1000 ET	Nov existing home sales expected -1.8% to 5.50 million, Oct +2.0% to 5.60 million.
	1030 ET	EIA Weekly Petroleum Status Report.
		Thursday, Dec 22
US	0830 ET	Weekly initial unemployment claims expected +3,000 to 257,000, previous -4,000 to 254,000. Weekly continuing claims expected -8,000 to 2.010 million, previous +11,000 to 2.018 million.
	0830 ET	Revised Q3 GDP expected 3.3% (q/q annualized), previous +3.2%. Q3 personal consumption expected unrevised at +2.8%. Q3 GDP price index expected unrevised at +1.4%. Q3 core PCE expected unrevised at +1.7% q/q.
	0830 ET	Nov durable goods orders expected -4.9% and +0.2% ex transportation, Oct +4.6% and +0.8% ex transportation. Nov capital goods new orders nondefense ex aircraft expected +0.4%, Oct +0.2%.
	0830 ET	Nov Chicago Fed national activity index expected -0.02 to -0.10, Oct +0.15 to -0.08.
	0830 ET	USDA weekly Export Sales.
	0900 ET	Oct FHFA house price index expected +0.5% m/m, Sep +0.6% m/m.
	1000 ET	Nov personal spending expected +0.3%, Oct +0.3%. Nov personal income expected +0.3%, Oct +0.6%.
	1000 ET	Nov PCE deflator expected +0.2% m/m and +1.5% y/y, Oct +0.2% m/m and +1.4% y/y. Nov core PCE deflator expected +0.1% m/m and +1.7% y/y, Oct +0.1% m/m and +1.7% y/y.
	1000 ET	Nov leading indicators expected +0.1%, Oct +0.1%.
	1100 ET	Dec Kansas City Fed manufacturing activity expected +3 to 4, Nov -5 to 1.
	1100 ET	Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $13 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned Dec 27-29.
	1300 ET	Treasury auctions $14 billion of 5-year TIPS.

U.S. STOCK CALENDAR12/21/2016

Company	Ticker	Time	Event Description	Period	Estimate
Paychex Inc	PAYX US	Bef-mkt	Q2 2017 Earnings Release	Q2 2017	0.555
Accenture PLC	ACN US	6:59	Q1 2017 Earnings Release	Q1 2017	1.496
Accenture PLC	ACN US	8:00	Q1 2017 Earnings Call	Q1 2017
Paychex Inc	PAYX US	9:30	Q2 2017 Earnings Call	Q2 2017
Bed Bath & Beyond Inc	BBBY US	16:15	Q3 2017 Earnings Release	Q3 2017	0.984
Red Hat Inc	RHT US	16:15	Q3 2017 Earnings Release	Q3 2017	0.579
Micron Technology Inc	MU US	16:30	Q1 2017 Earnings Call	Q1 2017
Bed Bath & Beyond Inc	BBBY US	17:00	Q3 2017 Earnings Call	Q3 2017
Red Hat Inc	RHT US	17:00	Q3 2017 Earnings Call	Q3 2017
Micron Technology Inc	MU US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	0.269
Orbital ATK Inc	OA US		Q3 2016 Earnings Release	Q3 2016	1.386
Raymond James Financial Inc	RJF US		November 2016 Sales and Revenue Release - Operating Data	2016

Wednesday, January 6, 2016

Today's 5 Best Mid Caps

I wanted to find the 5 Mid Cap stocks with the best current momentum so I used Barchart to sort the S&P 400 Mid Cap Index stocks first for the best technical buy signals, then I used the Flipchart feature to review the charts.

My list today includes Orbital ATK (OA), National Retail Properties (NNN), Health Net (HNT), Fairchild Semiconductor International (FCS) and Extra Space Storage (EXR).

Orbital ATK (OA)