Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: OWW

Showing posts with label OWW. Show all posts

Tuesday, July 14, 2015

BARCHART MORNING CALL 7/14

Tuesday, July 14th, 2015View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU15 -0.02%) are down -0.05% and European stocks are down -0.32% as global stocks consolidate Monday's sharp rally. Q2 earnings season is now in focus as the market awaits earnings reports from JPMorgan Chase, Wells Fargo and Johnson & Johnson. Losses in European stocks were contained after German investor confidence fell less than expected this month. Asian stocks closed mixed: Japan +1.47%, Hong Kong -0.41%, China -1.16%, Taiwan +0.09%, Australia +1.90%, Singapore +0.16%, South Korea -0.48%, India -0.10%.
Commodity prices are mostly lower. Aug crude oil (CLQ15 -1.03%) is down sharply by -2.09% after Iran reached a deal with world powers over its nuclear program, which bolstered speculation that an increase in Iranian crude exports will flood an already oversupplied global oil market. Aug gasoline (RBQ15 -1.07%) is down -1.64%. Metals prices are weaker. Aug gold (GCQ15 -0.22%) is down -0.25%. Sep copper (HGU15 -1.20%) is down -1.08%. Agricultural prices are mixed with Nov soybeans up +0.73% at an 8-month high on crop concerns after the National Weather Service said that parts of the Midwest saw more than triple the normal amount of rainfall in the past week.
The dollar index (DXY00 -0.20%) is down -0.16%. EUR/USD (^EURUSD) is up +0.21%. USD/JPY (^USDJPY) is down -0.05%.

Sep T-note prices (ZNU15 -0.09%) are down -2.5 ticks.
After 18 days of negotiations, Iran and six world powers signed an agreement to limit Iran's nuclear program in return for ending economic sanctions that were imposed on Iran in 2012. Diplomats said that restrictions on Iran will remain in place until UN monitors report on the country's compliance with the deal in December. The U.S. Congress has 60 days to review and agree to the deal, a deal that Israel said it would use "every means" possible to convince Congress to reject.
The German Jul ZEW survey expectations of economic growth fell -1.8 to 29.7, a smaller decline than expectations of -2.5 to 29.0, but still the lowest in 8 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) June retail sales (expected +0.2% and +0.5% ex autos after May's +1.2% and +1.0% ex autos), (2) June import price index (expected +0.1% m/m and -9.8% y/y after May's +1.3% m/m and -9.6% y/y), and (3) May business inventories (expected +0.3% after April's +0.4%).
There are 6 of the S&P 500 companies that report earnings today: JPMorgan Chase (consensus $1.45), Johnson & Johnson (1.67), Wells Fargo (1.03), Fastenal (0.47), CSX Corp (0.53), Yum Brands (0.63).
U.S. IPO's scheduled to price today include: none.
Equity conferences during the remainder of this week include: SEMICON West CEO Investor Summit on Tue-Wed, 2015 International Stewardship Symposium on Wed, Delivering Alpha Conference on Wed.

OVERNIGHT U.S. STOCK MOVERS

JPMorgan Chase (JPM +1.55%) reported Q2 EPS of $1.49, better than expectations of $1.45.
Fastenal (FAST +1.16%) reported Q2 EPS of 48 cents, higher than consensus of 47 cents.
Orbitz (OWW unch) was downgraded to 'Sell' from 'Neutral' at UBS.
Western Refining (WNR +1.57%) was upgraded to 'Neutral' from 'Sell' at Goldman Sachs.
Delek U.S. (DK -0.03%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Phillips 66 (PSX +2.37%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Coca-Cola (KO +0.67%) was upgraded to 'Buy' from 'Neutral' at UBS.
Cardinal Health (CAH +0.75%) was downgraded to 'Hold' from 'Buy' at Evercore ISI.
Amazon.com (AMZN +2.72%) was upgraded to 'Buy' from 'Neutral' at UBS.
Buffalo Wild Wings (BWLD +2.05%) was upgraded to 'Outperform' from 'Market Perform' at Raymond James.
GoPro (GPRO -0.76%) was upgraded to 'Overweight' from 'Equal Weight' at Barclays.
Micron Technology (MU +0.23%) jumped nearly 9% in pre-market trading after people familiar with the matter said that China's Tsinghua Unigroup Ltd, plans to offer $23 billion for the chipmaker.
Navient (NAVI -0.05%) slid over 10% in after-hours trading after it lowered guidance on fiscal 2015 core EPS to $1.85, well below consensus of $2.20.
Candlewood Investment Group reported a 17.9% passive stake in Pacific Ethanol (PEIX +1.39%) .

MARKET COMMENTS

September E-mini S&Ps (ESU15 -0.02%) this morning are down -1.00 point (-0.05%). Monday's closes: S&P 500 +1.11%, Dow Jones +1.22%, Nasdaq +1.68%. The S&P 500 on Monday rose to a 2-week high and closed higher on reduced Grexit concerns after (1) Greek PM Tsipras agreed to bailout reforms, and (2) Chinese stocks rallied by another +2.4%.
Sep 10-year T-notes (ZNU15 -0.09%) this morning are down -2.5 ticks. Monday's closes: TYU5 -4.50, FVU5 -3.75. Sep T-notes on Monday dropped to a 1-week low on reduced safe-haven demand with some progress on Greece and a +2.4% rally in Chinese stocks.
The dollar index (DXY00 -0.20%) this morning is down -0.152 (-0.16%). EUR/USD (^EURUSD) is up +0.0023 (+0.21%). USD/JPY (^USDJPY)is down -0.06 (-0.05%). Monday's closes: Dollar Index +0.833 (+0.87%), EUR/USD -0.0155 (-1.39%), USD/JPY +0.653 (+0.53%). The dollar index Monday settled higher on speculation that a deal to end the Greek debt crisis and a recovery in Chinese stocks may keep the Fed on course to raise interest rates this year.
Aug WTI crude oil (CLQ15 -1.03%) this morning is down -$1.09 a barrel (-2.09%) on news that Iran signed a nuclear agreement with western powers. Aug gasoline (RBQ15 -1.07%)is down -0.0319 (-1.64%). Monday's closes: CLQ5 -0.55 (-1.04%), RBQ5 -0.0750 (-3.72%). Aug crude oil and gasoline prices on Monday closed lower on strength in the dollar, record June Saudi Arabian crude production of 10.564 bpd, and reports that an Iranian nuclear deal is imminent, which would pave the way for the elimination of sanctions and up to 1 million bpd of new Iranian oil exports.

GLOBAL EVENT CALENDAR07/14/2015

US	0830 ET	Jun retail sales expected +0.2% and +0.5% ex autos, May +1.2% and +1.0% ex autos. Jun retail sales ex auto and gas expected +0.4%, May +0.7%.
	0830 ET	Jun import price index expected +0.1% m/m and -9.8% y/y, May +1.3% m/m and -9.6% y/y.
	1000 ET	May business inventories expected +0.3%, Apr +0.4%.
GER	0200 ET	Revised German Jun CPI (EU harmonized), previous -0.2% m/m and +0.1% y/y.
	0500 ET	German Jul ZEW survey expectations of economic growth expected -2.5 to 29.0, Jun 31.5. Jul ZEW survey current situation expected -2.9 to 60.0, Jun 62.9.
UK	0430 ET	UK Jun CPI expected +0.1% m/m and unch y/y, May +0.2% m/m and +0.1% y/y. Jun core CPI expected +0.9% y/y, May +0.9% y/y.
	0430 ET	UK Jun RPI expected +0.1% m/m and +1.0% y/y, May +0.2% m/m and +1.0% y/y. Jun RPI ex-mortgage interest payments expected +1.0% y/y, May +1.1% y/y.
	0430 ET	UK Jun PPI input prices expected -0.8% m/m and -11.8% y/y, May -0.9% m/m and -12.0% y/y. Jun PPI output prices expected +0.1% m/m and -1.5% y/y, May +0.1% m/m and -1.6% y/y. Jun PPI output core prices expected unch m/m and +0.1% y/y, May unch m/m and +0.1% y/y.
	0430 ET	UK May ONS house prices, Apr +5.5% y/y.
EUR	0500 ET	Eurozone May industrial production expected +0.2% m/m and +2.0% y/y, Apr +0.1% m/m and +0.8% y/y.
CHI	2200 ET	China Jun industrial production expected +6.0% y/y, May +6.1% y/y. Jun retail sales expected +10.2% y/y, May +10.1% y/y.
	2200 ET	China Q2 GDP expected +6.8% y/y, Q1 +7.0% y/y.

U.S. STOCK CALENDAR07/14/2015

Company	Ticker	Time	Event Description	Period	Estimate
Johnson & Johnson	JNJ US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	1.669
JPMorgan Chase & Co	JPM US	7:00	Q2 2015 Earnings Release	Q2 2015	1.447
Fastenal Co	FAST US	7:00	Q2 2015 Earnings Release	Q2 2015	0.465
Wells Fargo & Co	WFC US	8:00	Q2 2015 Earnings Release	Q2 2015	1.025
JPMorgan Chase & Co	JPM US	8:30	Q2 2015 Earnings Call	Q2 2015
Johnson & Johnson	JNJ US	8:30	Q2 2015 Earnings Call	Q2 2015
General Mills Inc	GIS US	9:00	Investor Meeting	Y 2015
Wells Fargo & Co	WFC US	10:00	Q2 2015 Earnings Call	Q2 2015
Fastenal Co	FAST US	10:00	Q2 2015 Earnings Call	Q2 2015
Lam Research Corp	LRCX US	12:00	Investor & Analyst Meeting	Y 2015
CSX Corp	CSX US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.527
Yum! Brands Inc	YUM US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.626

Monday, January 12, 2015

BARCHART MORNING CALL 1/12

BARCHART MORNING CALL

Monday, January 12th, 2015View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH15 +0.55%) this morning are up +0.57% and European stocks are up +1.62% as health-care companies rallied on increased M&A activity and promising drug-test results from Bristol-Myers Squibb. Also, Greek sovereign debt concerns eased and pushed the Greek 10-year bond yield down to a 1-week low and gave a boost to European stocks after Syriza leader Tsipras said that a government led by his party would repay Greek debt maturing in March and keep Greece in the Eurozone. Asian stocks closed mixed: Japan closed for holiday, Hong Kong +1.45%, China -0.93%, Taiwan -0.40%, Australia -0.78%, Singapore +0.19%, South Korea -0.14%, India +0.46%. China's Shanghai Stock Index slipped to a 1-week low amid concern the recent rally in Chinese equities to a 5-1/3 year high has been excessive relative to the outlook for the economy. Commodity prices are mixed. Feb crude oil (CLG15 -2.52%) is down -2.40%. Feb gasoline (RBG15 -1.56%) is down -1.36%. Feb gold (GCG15 +0.30%) is up % at a 1-month high on speculation that Friday's weaker-than-expected wage growth will prompt the Fed to go slow in raising interest rates. Mar copper (HGH15 -0.44%) is down -0.31%. Agriculture prices are mixed ahead of this morning's USDA monthly WASDE crop production report. The dollar index (DXY00 +0.38%) is up +0.32%. EUR/USD (^EURUSD) is down -0.34%. USD/JPY (^USDJPY) is up +0.57%. Mar T-note prices (ZNH15 -0.01%) are up +2 ticks.
A couple of ECB members expressed differing views over the weekend on whether the ECB should begin quantitative easing after ECB Executive Board member Lautenschlage said in an interview with Der Spiegel that conditions were not yet grave enough to warrant government bond purchases, while Bank of Italy Governor and fellow ECB member Visco said in an interview with Welt am Sonntag that there was a threat of deflation and that government bond purchases would be the most effective tool to combat it.
The UK Dec Lloyds employment confidence fell -3 to -2 and matched the lowest level in 9 months.

U.S. STOCK PREVIEW

The Treasury today will sell $24 billion of 3-year T-notes. There is one of the Russell 1000 companies that reports earnings today: Alcoa (consensus $0.27). Equity conferences this week include: JP Morgan Health Care Conference on Mon-Wed, Needham Growth Conference on Tue, Deutsche Bank Global Auto Industry Conference on Tue-Wed, and Biomarkers from Research to Clinic Conference on Fri.

OVERNIGHT U.S. STOCK MOVERS

Alcoa (AA +1.32%) was upgraded to Buy from Neutral at Nomura.
Bristol-Myers Squibb (BMY -0.66%) climbed nearly 6% in pre-market trading after it said its Opdivo treatmet showed better overall survival rates compared with docetaxel, a form of chemotherapy, in a study of patients with a type of lung cancer.
NPS Pharmaceuticals (NPSP -2.35%) jumped nearly 9% in pre-market trading after Shire Plc agreed to buy the drug maker for about $5.2 billion.
D.R. Horton (DHI +0.50%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Barron's says that Regeneron (REGN +1.93%) has 25% upside potential.
Select Medical (SEM +7.65%) fell 4% in after-hours trading after it lowered guidance on fiscal 2015 diluted EPS to 84 cents-90 cents, well below consensus of 98 cents.
BlackRock reported a 12.3% passive stake in Symmetry Surgical (SSRG -2.45%) .
BlackRock reported a 10.2% passive stake in Orbitz (OWW +0.92%) .
Brown Brothers Harriman reported a 5.05% passive stake in Southwestern Energy (SWN -1.56%) .
Baupost Group reported a 10.01% passive stake in Cheniere Energy (LNG +1.49%) .
Fitch Ratings downgraded Russia's long-term foreign and local currency Issuer Default Ratings to 'BBB-' from 'BBB' with a negative outlook.
Ameriprise Financial reported a 10.6% passive stake in Mattson (MTSN unch) .
Burlington Stores (BURL -1.52%) rose 4% in after-hours trading after it raised guidance on Q4 adjusted EPS to $1.30-$1.32 from $1.25-$1.28, higher than consensus of $1.28, and also raised guidance on full year fiscal 2014 EPS view to $1.70-$1.72 from $1.65-$1.67, better than consensus of $1.68.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 +0.55%) this morning are up +11.50 points (+0.57%). The S&P 500 index on Friday closed lower: S&P 500 -0.84%, Dow Jones -0.95%, Nasdaq -0.64%. Bearish factors included (1) concern about the sustainability of the U.S. recovery after Dec avg hourly earnings unexpectedly fell -0.2% m/m, weaker than expectations of +0.2% m/m and the biggest decline since comparable records began in 2006, and (2) negative carry-over from a slide in European stocks on concern the ECB won’t be aggressive in expanding stimulus.
Mar 10-year T-notes (ZNH15 -0.01%) this morning are up +2 ticks. Mar 10-year T-note futures prices on Friday closed higher. Closes: TYH5 +15.00, FVH5 +9.00. Supportive factors included (1) speculation the Fed may delay any interest rate increase after U.S. Dec avg hourly earnings unexpectedly declined, and (2) increased safe-haven demand for Treasuries as stocks sold off.
The dollar index (DXY00 +0.38%) this morning is up +0.294 (+0.32%). EUR/USD (^EURUSD) is down -0.0040 (-0.34%). USD/JPY (^USDJPY) is up +0.68 (+0.57%). The dollar index on Friday closed lower: Dollar index -0.43 (-0.47%), EUR/USD +0.00496 (+0.42%), USD/JPY -1.126 (-0.94%). Bearish factors for the dollar included (1) the unexpected decline in U.S. Dec avg hourly earnings, which bolstered speculation the Fed will be in no hurry to raise interest rates, and (2) strength in EUR/USD on speculation the ECB may not expand stimulus at the Jan 22 policy meeting after ECB Governing Council member Hansson said current stimulus measures haven’t had time to work.
Feb WTI crude oil (CLG15 -2.52%) this morning is down -$1.16 a barrel (-2.40%) and Feb gasoline (RBG15 -1.56%) is down -0.0180 (-1.36%). Feb crude oil and Feb gasoline on Friday closed lower with Feb gasoline at a 5-3/4 year low: CLG5 -0.43 (-0.88%), RBG5 -0.0149 (-1.11%). Bearish factors included (1) speculation that OPEC will refrain from cutting oil production after the U.A.E ambassador to the U.S. said that the U.A.E. has no plans to reduce output no matter how low oil prices drop, and (2) the unexpected declines in German and UK Nov industrial production, a sign of weaker energy demand.

GLOBAL EVENT CALENDAR01/12/2015

US	1100 ET	USDA weekly grain export inspections.
	1200 ET	USDA Jan WASDE crop production.
	1200 ET	USDA Q4 quarterly grain stocks.
	1240 ET	Atlanta Fed President Dennis Lockhart speaks on the U.S. economic outlook to the Rotary Club of Atlanta.
	1300 ET	Treasury auctions $24 billion 3-year T-notes.
UK	0430 ET	UK Dec Lloyds employment confidence, Nov 1.
	1901 ET	UK Dec BRC sales like-for-like expected +1.0% y/y, Nov +0.9% y/y.
JPN	n/a	Japanese markets closed for Coming-of-age Day.
	2330 ET	Japan Dec bankruptcies, Nov -14.61% y/y.
CHI	n/a	China Dec trade balance expected +$49.00 billion, Nov +$54.48 billion. Dec exports expected +6.0% y/y, Nov +4.7% y/y. Dec imports expected -6.2% y/y, Nov -6.7% y/y.

U.S. STOCK CALENDAR01/12/2015

Company	Ticker	Time	Event Description	Period	Estimate
Zebra Technologies Corp	ZBRA US	7:00	Investor Meeting	Y 2015
Hexcel Corp	HXL US	16:00	Investor Meeting	Y 2015
Alcoa Inc	AA US	16:03	Q4 2014 Earnings Release	Q4 2014	0.271
Alcoa Inc	AA US	17:00	Q4 2014 Earnings Call	Q4 2014
Tiffany & Co	TIF US		December 2014 Sales and Revenue Release	2014

Wednesday, September 10, 2014

BARCHART MORNING CALL 9/10

BARCHART MORNING CALL

Wednesday, September 10th, 2014View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU14 -0.04%) this morning are up +0.08% and European stocks are up +0.03% on the prospects for a sustained peace in Ukraine after Ukrainian President Poroshenko said that Russia has withdrawn more than 70% of its troops from his country. Global stocks also found support on comments from Chinese Premier Li Keqiang who said that his country will accelerate policy changes to promote growth. Li Keqiang added that the Chinese economy will avoid a hard-landing and that his government will ensure a medium to high growth rate as it deepens policy changes to promote business, attract foreign investment and protect intellectual property. Asian stocks closed mostly lower: Japan +0.25%, Hong Kong -1.93%, China -0.52%, Taiwan -0.82%, Australia -0.60%, Singapore -0.13%, South Korea closed for holiday, India -0.76%. Japanese stocks bucked the trend of lower Asian markets and closed higher as exporter stocks rallied on the prospects for improved earnings after the yen slumped to a fresh 5-3/4 year low against the dollar. Commodity prices are mixed. Oct crude oil (CLV14 -0.42%) is up +0.09%. Oct gasoline (RBV14 -0.14%) is up +0.18%. Dec gold (GCZ14 +0.36%) is up +0.50%. Dec copper (HGZ14 +0.24%) is down -0.18%. Agriculture and livestock prices are mixed although Oct live cattle prices are up +1.00% at a new all-time high. The dollar index (DXY00 -0.08%) is down -0.17%. EUR/USD (^EURUSD) is up +0.10%. USD/JPY (^USDJPY) is up +0.37% at a 5-3/4 year high after an unexpected decline in Japanese producer prices last month bolstered expectations for the BOJ to expand stimulus. Dec T-note prices (ZNZ14 -0.14%) are down -4 ticks at a 1-month low.
Japan Aug PPI unexpectedly fell -0.2% m/m, less than expectations of unch m/m and the biggest drop in 22 months. On an annual basis, Aug PPI rose +3.9% y/y, less than expectations of +4.1% y/y.
Japan Jul machine orders rose +3.5% m/m, less than expectations of +4.0% m/m. On an annual basis, Jul machine orders rose +1.1% y/y, double expectations of +0.5% y/y.

U.S. STOCK PREVIEW

Mortgage activity should get a small boost from low U.S. mortgage rates. The Treasury today will sell $21 billion of 10-year T-notes. There are no Russell 1000 companies that report earnings today: (consensus: n/a).
Equity conferences the rest of this week include: Morgan Stanley Healthcare Conference on Mon-Wed, Barclays Global Financial Services Conference on Mon-Wed, Deutsche Bank dbAccess Technology Conference on Tue-Wed, RBC Capital Market Global Industrials Conference on Tue-Wed, UBS Best of Americas Conference on Tue-Thu, Latin Markets Mexico Energy Summit on Wed, Pareto Oil & Offshore Conference on Wed, Longbow Research - Industrial Manufacturing & Technology Investor Conference on Wed, Goldman Sachs Communacopia Conference on Wed-Fri, UBS Global Paper & Forest Products Conference on Thu, BIO Latin America Conference on Thu, and Credit Suisse Asian Technology Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Huntsman (HUN -1.43%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
eBay (EBAY -2.77%) was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray.
L Brands (LB -0.72%) was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Tiffany (TIF -0.92%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
Hartford Financial (HIG -0.49%) was upgraded to 'Outperform' from 'Market Perform' at FBR Capital.
Twitter (TWTR -2.67%) was upgraded to 'Buy' from 'Neutral' at UBS.
Billionaire activist investor Carl Icahn raised his stake in Gannett (GCI -3.11%) to 8.48% from 6.63%.
Urban Outfitters (URBN -0.46%) fell nearly 3% in after-hour trading after the company said that Q3 Same-Store-Ssales thus far are low single-digit negative.
Lazard Asset Management reported a 7.05% passive stake in Orbitz (OWW -1.21%) .
SAIC (SAIC -0.50%) reported Q2 EPS of 70 cents, better than consensus of 68 cents.
Piper Jaffray believes Apple's (AAPL -0.38%) new product launches met expectations and keeps its 'Overweight' rating on Apple with a $120 price target.
Pershing Square Capital Management reported a 9.7% stake in Allergan (AGN -0.49%) and sent a letter to Allergan's Board of Directors.

MARKET COMMENTS

Sep E-mini S&Ps (ESU14 -0.04%) this morning are up +1.50 points (+0.08%). The S&P 500 Index on Tuesday fell to a 2-week low and closed lower: S&P 500 -0.65%, Dow Jones -0.57%, Nasdaq -0.82%. Bearish factors included (1) the unexpected -2,000 decline in Jul JOLTS job openings, less than expectations for a +29,000 increase, and (2) long liquidation spurred on by interest rate concerns after a San Francisco Fed research paper stated that investors may be underestimating how quickly the Fed could raise interest rates.
Dec 10-year T-notes (ZNZ14 -0.14%) this morning are down -4 ticks at a fresh 1-month low. Dec 10-year T-note futures prices on Tuesday fell to a 1-month low and closed lower. Bearish factors included (1) a San Francisco Fed research paper that stated investors are underestimating how quickly the Fed may hike interest rates, and (2) supply pressures ahead of today's $21 billion auction of 10-year T-notes and tomorrow's $13 billion auction of 30-year T-bonds. Closes: TYZ4 -9.50, FVZ4 -7.00.
The dollar index (DXY00 -0.08%) this morning is down -0.147 (-0.17%). EUR/USD (^EURUSD) is up +0.0013 (+0.10%) and USD/JPY (^USDJPY) is up +0.39 (+0.37%) at a new 5-3/4 year high. The dollar index on Tuesday climbed to a 14-month high and closed higher. Bullish factors included (1) a San Francisco Fed research paper that stated the markets may be underestimating the pace of Fed rate increases, and (2) weakness in the yen as USD/JPY surged to a 5-3/4 year high on divergent monetary policies between the Fed, which is cutting stimulus and may soon raise interest rates and the BOJ, which is seen expanding stimulus to boost Japanese growth and combat deflation risks. Closes: Dollar index +0.046 (+0.05%), EUR/USD +0.0043 (+0.33%), USD/JPY +0.173 (+0.16%).
Oct WTI crude oil (CLV14 -0.42%) this morning is up +8 cents (+0.09%) and Oct gasoline (RBV14 -0.14%) is up +0.0045 (+0.18%). Oct crude and gasoline prices on Tuesday settled mixed: CLV4 +0.09 (+0.10%), RBV4 -0.0169 (-0.66%). Crude found support on expectations that Wednesday's weekly EIA inventory data will show crude supplies fell -1.5 million bbl, the fourth consecutive decline. Negative factors included (1) the rally in the dollar index to a 14-month high, and (2) increased oil output in Libya after Libya's state-run National Oil Corp. said Libyan oil production rose to 747,000 bpd on Sep 8 from 700,000 bpd on Sep 1.

GLOBAL EVENT CALENDAR09/10/2014

US	0700 ET	Weekly MBA mortgage applications, previous +0.2% with purchase sub-index -1.5% and the refi sub-index +1.4%.
	1000 ET	Jul wholesale inventories expected +0.5% m/m, Jun +0.3% m/m. Jul wholesale trade sales expected +0.6% m/m, Jun +0.2% m/m.
	1030 ET	EIA Weekly Petroleum Status Report.
	1300 ET	Treasury auctions $21 billion 10-year T-notes.
UK	1901 ET	UK Aug RICS house price balance expected 47%, Jul 49%.
JPN	1950 ET	Japan Q3 BSI large all-industry business conditions, Q2 -14.6. Q3 BSI large manufacturing business conditions, Q2 -13.9.
CHI	2130 ET	China Aug CPI expected +2.2% y/y, Jul +2.3% y/y. Aug PPI expected -1.1% y/y, Jul -0.9% y/y.

U.S. STOCK CALENDAR09/10/2014

Company Name	Ticker	Time	Event Description	Period
General Electric Co	GE US	9:00	Investor Meeting - Oil & Gas	Y 2014
B/E Aerospace Inc	BEAV US	9:00	Annual General Meeting
Legg Mason Inc	LM US	12:00	Investor Day	Y 2014
Charles Schwab Corp/The	SCHW US		August 2014 Sales and Revenue Release - Activity Report	2014

Tuesday, July 29, 2014

BARCHART MORNING CALL 7/29

BARCHART MORNING CALL

Tuesday, July 29th, 2014View Older Reports

Everything you need to know about the markets in one free daily newsletter.

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU14 +0.15%) this morning are up +0.01% and European stocks are up +0.46% as optimism over Q2 corporate earnings results offsets concern about the geopolitical crisis' in Ukraine and the Middle East. Gains in European stocks were muted as the EU and the U.S. prepare new sanctions against Russia. Concern that new sanctions against Russia may slow European economic growth has fueled a rally in European government bond markets with the yield on the 10-year German bund falling to 1.119%, the lowest since Bloomberg began tracking the data in 1989. Asian stocks closed mostly higher: Japan +0.57%, Hong Kong +0.87%, China +0.32%, Taiwan -0.30%, Australia +0.20%, Singapore +0.18%, South Korea +0.93%, India closed for holiday. Japan's Nikkei Stock Index climbed to a 6-month high as exporter stocks rallied after the yen fell to a 3-week low against the dollar, which improves the earnings prospects for exporters. China's Shanghai Stock Index rose to a 7-month high as property developers rallied after the Shanghai Securities News reported that banks in Shanghai, Beijing and Guangzhou may shorten their mortgage-approval process to 1 month from 3 months, which may boost China's home sales in the second half of this year. Commodity prices are mixed. Sep crude oil (CLU14 -0.26%) is down -0.23%. Sep gasoline (RBU14 +0.45%) is up +0.44%. Aug gold (GCQ14 +0.36%) is up +0.32%. Sep copper (HGU14 -0.29%) is down -0.28%. Agriculture and livestock prices are mostly lower. The dollar index (DXY00 +0.04%) is up +0.03%. EUR/USD (^EURUSD) is down -0.03%. USD/JPY (^USDJPY) is up +0.12% at a 3-week high. Sep T-note prices (ZNU14 +0.07%) are up +4 ticks on catty-over support from a rally in European bond markets.
The Japan Jun jobless rate unexpectedly rose +0.2 to 3.7%, higher than expectations of unch at 3.5% and the highest in 5 months. The Jun job-to-applicant ratio unexpectedly rose +0.01 to 1.10, higher than expectations of unch at 1.09 and the highest in 22 years.
Japan Jun retail sales rose +0.4% m/m and fell -0.6% y/y, weaker than expectations of +0.8% m/m and -0.5% y/y.
Japan Jun overall household spending fell -3.0% y/y, less than expectations of -4.0% y/y.
UK Jun mortgage approvals rose 67,200, more than expectations of 63,000.
UK Jun net consumer credit rose +0.4 billion pounds, less than expectations of +0.8 billion pounds and the smallest increase in 17 months.

U.S. STOCK PREVIEW

The 2-day FOMC meeting begins today and will conclude tomorrow with a policy announcement. Today’s May S&P/CaseShiller Composite-20 home price index is expected to show an increase of +0.3% m/m, strengthening a bit from the +0.2% increase seen in April. April’s report of +0.2% m/m marked the smallest advance for the series since it started rising in February 2012. Today’s July U.S. consumer confidence from the Conference Board is expected to show a small increase of +0.2 to 85.4, edging higher after the sharp +3.0 point increase to 85.2 seen in June. The Treasury today will sell $35 billion of 5-year T-notes.
There are 46 of the S&P 500 companies that report earnings today with notable reports including: UPS (consensus $1.25), Newmont Mining (0.19), Aflac (1.59), Pfizer (0.57), Martin Marietta Materials (1.29), Corning (0.38), Wynn Resorts (2.03), International Paper (0.83), Merck (0.81). Equity conferences this week include the following: Institute of Validation technology on Tue-Thu, and Marcus Evans 13th Annual Outage Management for Power Plants Conference on Tue-Thu.

OVERNIGHT U.S. STOCK MOVERS

Merck & Co. (MRK -0.31%) reported Q2 EPS of 85 cents, better than consensus of 81 cents.
Aetna (AET +1.71%) reported Q2 EPS of $1.69, higher than consensus of $1.60.
Eastman Chemical (EMN -0.05%) reported Q2 EPS of $1.92, above consensus of $1.84.
Range Resources (RRC -0.57%) reported Q2 EPS of 36 cents, weaker than consensus of 40 cents.
Masco (MAS -3.01%) climbed 6% in after-hours trading after it reported Q2 adjusted EPS of 32 cents, stronger than consensus of 28 cents.
Luxor Capital Group reported a 5.4% passive stake in Orbitz (OWW unch) .
Herbalife (HLF +2.15%) fell over 10% in after-hours trading after it reported Q2 EPS of $1.55, below consensus of $1.57.
HealthSouth (HLS +1.21%) reported Q2 EPS of 81 cents with items, well above consensus of 47 cents, and then raised guidance on fiscal 2014 EPS view to $2.25-$2.31 from $1.86-$1.91, well above consensus of $1.91.
Amkor Technology (AMKR +0.10%) jumped over 10% in after-hours trading after it reported Q2 EPS of 21 cents, higher than consensus of 15 cents.
Lloyd Miller reported a 5.4% passive stake in Learning Tree (LTRE +1.28%) .
CNO Financial (CNO +0.17%) reported Q2 EPS of 29 cents, weaker than consensus of 31 cents.
W. R. Berkley (WRB -0.25%) reported Q2 operating EPS of 82 cents, stronger than consensus of 77 cents.
Plum Creek Timber (PCL +0.32%) reported Q2 EPS of 31 cents, higher than consensus of 30 cents, but then lowered guidance on fiscal 2014 EPS view to $1.05-$1.25 from $1.30-$1.50, well below consensus of $1.39.
Norwegian Cruise Line (NCLH +1.11%) reported Q2 adjusted EPS of 58 cents, better than consensus of 57 cents.

MARKET COMMENTS

Sep E-mini S&Ps (ESU14 +0.15%) this morning are up +0.25 of a point (+0.01%). The S&P 500 index on Monday erased early losses and closed higher on increased M&A activity after Dollar Tree agreed to buy rival Family Dollar Stores in a cash-and-stock deal valued at about $8.5 billion and after Zillow agreed to purchase Trulia for $3.5 billion: S&P 500 +0.08%, Dow Jones +0.03%, Nasdaq +0.13%. Negative factors that kept gains in check included (1) the -1.1% m/m decline in June pending home sales, weaker than expectations of a +0.5% m/m increase and the biggest monthly decline in 6 months, and (2) geopolitical concerns with the escalation of violence in the Middle East and Ukraine and with impending new Russian sanctions.
Sep 10-year T-notes (ZNU14 +0.07%) this morning are up +4 ticks. Sep 10-year T-note futures prices on Monday closed lower. Negative factors included (1) supply pressures as the Treasury auctions $108 billion of T-notes this week, and (2) expectations for the Fed to further reduce its monthly bond purchases by $10 billion when it convenes at this week’s 2-day FOMC meeting. Losses were limited as stocks fell after Jun pending home sales unexpectedly fell by the most in 6 months. Closes: TYU4 -6.0, FVU4 -4.00.
The dollar index (DXY00 +0.04%) this morning is up +0.026 (+0.03%). EUR/USD (^EURUSD) is down -0.0004 (-0.03%) and USD/JPY (^USDJPY) is up +0.12 (+0.12%) a a 3-week high. The dollar index on Monday closed little changed on signs of economic weakness after U.S. Jun pending home sales unexpectedly declined. EUR/USD was undercut by comments from ECB Vice President Constancio who said that inflation rates in the Eurozone “remained too low” in the second quarter. Closes: Dollar index unch, EUR/USD -0.0034 (-0.25%), USD/JPY +0.02 (+0.02%).
Sep WTI crude oil (CLU14 -0.26%) this morning is down -23 cents (-0.23%) and Sep gasoline (RBU14 +0.45%) is up +0.0125 (+0.44%). Sep crude and gasoline prices Monday closed lower with Sep crude at a 2-week low: CLU4 -0.42 (-0.41%), RBU4 -0.0129 (-0.45%). Bearish factors for crude oil and gasoline included (1) signs of economic weakness after U.S. Jun pending home sales unexpectedly declined by the most in 6 months, and (2) reduced geopolitical concerns as the flow of crude oil from the Middle East remains unaffected by the surge of violence in Libya and Iraq.

GLOBAL EVENT CALENDAR07/29/2014

US	0900 ET	May S&P/CaseShiller Composite-20 home price index expected +0.3% m/m and +10.0% y/y, Apr +0.19% m/m and +10.82% y/y.
	1000 ET	Jul U.S. consumer confidence (Conference Board) expected +0.2 to 85.4, Jun +3.0 to 85.2.
	1100 ET	FOMC begins 2-day policy meeting.
	1300 ET	Treasury auctions $35 billion of 5-year T-notes.
UK	0430 ET	UK Jun net consumer credit expected +0.8 billion pounds, May +0.7 billion pounds.
	0430 ET	UK Jun mortgage approvals expected 63,000, May 61,700.
	0430 ET	UK Jun M4 money supply expected -0.6% y/y, May -0.1% m/m and -0.9% y/y.
JPN	1950 ET	Japan Jun industrial production expected -1.2% m/m and +5.2% y/y, May +0.7% m/m and +1.0% y/y.
GER	0200 ET	German Jun import price index expected +0.3% m/m and -1.2% y/y, May unch m/m and -2.1% y/y.

U.S. STOCK CALENDAR07/29/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
Martin Marietta Materials Inc	MLM US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.292
Pfizer Inc	PFE US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.567
Nielsen NV	NLSN US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.612
Waste Management Inc	WM US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.593
Corning Inc	GLW US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.376
Eaton Corp PLC	ETN US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.118
Ecolab Inc	ECL US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.022
Entergy Corp	ETR US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.103
Wynn Resorts Ltd	WYNN US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	2.026
National Oilwell Varco Inc	NOV US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.437
PACCAR Inc	PCAR US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.891
Fidelity National Information Services Inc	FIS US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.739
Affiliated Managers Group Inc	AMG US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	2.599
International Paper Co	IP US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.832
Reynolds American Inc	RAI US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.867
Marsh & McLennan Cos Inc	MMC US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.744
Merck & Co Inc	MRK US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.81
Aetna Inc	AET US	6:00	Q2 2014 Earnings Release	Q2 2014	1.604
Harris Corp	HRS US	6:30	Q4 2014 Earnings Release	Q4 2014	1.284
CONSOL Energy Inc	CNX US	6:45	Q2 2014 Earnings Release	Q2 2014	0.245
Xylem Inc/NY	XYL US	7:00	Q2 2014 Earnings Release	Q2 2014	0.444
McGraw Hill Financial Inc	MHFI US	7:15	Q2 2014 Earnings Release	Q2 2014	0.98
NextEra Energy Inc	NEE US	7:30	Q2 2014 Earnings Release	Q2 2014	1.44
United Parcel Service Inc	UPS US	7:45	Q2 2014 Earnings Release	Q2 2014	1.248
Illinois Tool Works Inc	ITW US	8:00	Q2 2014 Earnings Release	Q2 2014	1.201
Masco Corp	MAS US	8:00	Q2 2014 Earnings Call	Q2 2014
Eastman Chemical Co	EMN US	8:00	Q2 2014 Earnings Call	Q2 2014
Merck & Co Inc	MRK US	8:00	Q2 2014 Earnings Call	Q2 2014
Nielsen NV	NLSN US	8:30	Q2 2014 Earnings Call	Q2 2014
Corning Inc	GLW US	8:30	Q2 2014 Earnings Call	Q2 2014
Wynn Resorts Ltd	WYNN US	8:30	Q2 2014 Earnings Call	Q2 2014
Harris Corp	HRS US	8:30	Q4 2014 Earnings Call	Q4 2014
United Parcel Service Inc	UPS US	8:30	Q2 2014 Earnings Call	Q2 2014
Fidelity National Information Services Inc	FIS US	8:30	Q2 2014 Earnings Call	Q2 2014
Aetna Inc	AET US	8:30	Q2 2014 Earnings Call	Q2 2014
Marsh & McLennan Cos Inc	MMC US	8:30	Q2 2014 Earnings Call	Q2 2014
McGraw Hill Financial Inc	MHFI US	8:30	Q2 2014 Earnings Call	Q2 2014
Xylem Inc/NY	XYL US	9:00	Q2 2014 Earnings Call	Q2 2014
NextEra Energy Inc	NEE US	9:00	Q2 2014 Earnings Call	Q2 2014
National Oilwell Varco Inc	NOV US	9:00	Q2 2014 Earnings Call	Q2 2014
International Paper Co	IP US	9:00	Q2 2014 Earnings Call	Q2 2014
Reynolds American Inc	RAI US	9:00	Q2 2014 Earnings Call	Q2 2014
Range Resources Corp	RRC US	9:00	Q2 2014 Earnings Call	Q2 2014
Pfizer Inc	PFE US	10:00	Q2 2014 Earnings Call	Q2 2014
Waste Management Inc	WM US	10:00	Q2 2014 Earnings Call	Q2 2014
CONSOL Energy Inc	CNX US	10:00	Q2 2014 Earnings Call	Q2 2014
General Growth Properties Inc	GGP US	10:00	Q2 2014 Earnings Call	Q2 2014
Eaton Corp PLC	ETN US	10:00	Q2 2014 Earnings Call	Q2 2014
Illinois Tool Works Inc	ITW US	10:00	Q2 2014 Earnings Call	Q2 2014
Entergy Corp	ETR US	11:00	Q2 2014 Earnings Call	Q2 2014
Affiliated Managers Group Inc	AMG US	11:00	Q2 2014 Earnings Call	Q2 2014
Jacobs Engineering Group Inc	JEC US	11:00	Q3 2014 Earnings Call	Q3 2014
PACCAR Inc	PCAR US	12:00	Q2 2014 Earnings Call	Q2 2014
Ecolab Inc	ECL US	13:00	Q2 2014 Earnings Call	Q2 2014
Martin Marietta Materials Inc	MLM US	14:00	Q2 2014 Earnings Call	Q2 2014
Edwards Lifesciences Corp	EW US	16:00	Q2 2014 Earnings Release	Q2 2014	0.769
CBRE Group Inc	CBG US	16:00	Q2 2014 Earnings Release	Q2 2014	0.356
CH Robinson Worldwide Inc	CHRW US	16:15	Q2 2014 Earnings Release	Q2 2014	0.765
American Express Co	AXP US	17:00	Q2 2014 Earnings Call	Q2 2014
Marriott International Inc/DE	MAR US	17:00	Q2 2014 Earnings Release	Q2 2014	0.67
Edwards Lifesciences Corp	EW US	17:00	Q2 2014 Earnings Call	Q2 2014
Vertex Pharmaceuticals Inc	VRTX US	17:00	Q2 2014 Earnings Call	Q2 2014
CBRE Group Inc	CBG US	17:00	Q2 2014 Earnings Call	Q2 2014
Amgen Inc	AMGN US	17:00	Q2 2014 Earnings Call	Q2 2014
Fiserv Inc	FISV US	17:00	Q2 2014 Earnings Call	Q2 2014
Equity Residential	EQR US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.768
Aflac Inc	AFL US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.592
Newmont Mining Corp	NEM US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.191
American Express Co	AXP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.381
Anadarko Petroleum Corp	APC US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.296
Owens-Illinois Inc	OI US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.824
AGL Resources Inc	GAS US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.428
Newfield Exploration Co	NFX US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.528
Vertex Pharmaceuticals Inc	VRTX US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	-0.762
Boston Properties Inc	BXP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.331
Genworth Financial Inc	GNW US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.349
Express Scripts Holding Co	ESRX US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	1.216
Amgen Inc	AMGN US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	2.064
Fiserv Inc	FISV US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.808
Ameriprise Financial Inc	AMP US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	2.01
Kimco Realty Corp	KIM US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.344
Cincinnati Financial Corp	CINF US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.455
Legg Mason Inc	LM US		Annual General Meeting	Y 2014

Friday, March 15, 2013

6 Sky Rocket Stocks

Today's featured stocks - I'll withhold the term "stock pick" - are highly volatile and before you consider adding them to your portfolio please do additional due diligence.

On days when the market seems to be regrouping or taking a breather is a good day to learn how to screen for stocks that are beating the trend. Today I used Barchart to screen all the Stocks Hitting New Highs list, then sorted them for frequency and used the flipchart function to pan through the charts. Some have risen too fast to continue much longer and some seem to be rising in spite of poor fundamentals but I decided to give you the charts anyway.

Today's list includes Orbitz Worldwide (OWW), Cerus Corp (CERS), First Financial Holdings (FFCH), E I DuPont de Nemours and Co (DD), Arch Capital Group (ACGL) and Universal Corp (UVV):

Orbitz WorldWide (OWW)