Friday, June 17th, 2016View Older Reports
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OVERNIGHT MARKETS AND NEWS
Sep E-mini S&Ps are down -0.18% and European stocks are up +1.07% as Brexit concerns temporarily receded after campaigning over whether the UK should leave the European Union was suspended for a second day today after the murder of Labor lawmaker Jo Cox, an advocate for Britain to remain in the EU. A weaker dollar has also boosted commodity prices, which has strengthened energy and raw-material producing stocks. Asian stocks settled higher: Japan +1.07%, Hong Kong +0.66%, China +0.43%, Taiwan +0.87%, Australia +0.32%, Singapore +0.43%, South Korea +0.01%, India +0.38%.
The dollar index is down -0.17%. EUR/USD is up +0.33%. USD/JPY is unchanged.
Sep T-note prices are down -11 ticks.
The BOE warns that if Britain votes next Thursday to leave the European Union, the damage could extend to global markets and the word economy. Central banks around the world are on high alert ahead of the vote with the leaders of the Fed, BOJ, BOC and SNB all citing the vote as being potentially disruptive. The BOE said a vote to leave could have "adverse spillovers to the global economy" through "financial market and confidence channels."
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) May housing starts (expected -1.9% to 1.150 million, Apr +6.6% to 1.172 million) and May building permits (expected +1.3% to 1.145 million, Apr +4.9% to 1.130 million).
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today: none.
Equity conferences today include: none.
OVERNIGHT U.S. STOCK MOVERS
Phillips 66 (PSX +0.37%) was downgraded to 'Equal Weight' from 'Overweight' at Morgan Stanley.
Oracle (ORCL +0.52%) climbed over 2% in after-hours trading after it reported Q4 adjusted EPS of 81 cents, below consensus of 82 cents, but Q4 adjusted revenue of $10.6 billion was higher than consensus of $10.47 billion.
Smith & Wesson (SWHC +1.26%) jumped nearly 7% in after-hours trading after it reported Q4 adjusted EPS of 66 cents, well above consensus of 54 cents, and then raised guidance on fiscal 2017 adjusted EPS to $1.83-$1.93, above consensus of $1.66.
Parsley Energy (PE -2.77%) was rated a new 'Buy' at Wunderlich Securities with an 18-month price target of $32.
Envision Healthcare Holdings (EVHC -6.18%) was downgraded to 'Market Perform' from 'Outperform' at Oppenheimer.
Finisar (FNSR +0.80%) rallied over 8% in after-hours trading after it reported Q4 adjusted EPS of 29 cents, above consensus of 25 cents.
MGM Resorts International (MGM -1.47%) rose over 4% in after-hours trading after guiding annual adjusted Ebitda benefit to $400 million by the end of 2017 from $300 million previously forecast.
Revlon will buy Elizabeth Arden (RDEN -0.21%) for $14/ share cash if deal valued at $870 million.
Lumber Liquidators (LL +0.68%) jumped over 10% in after-hours trading after agreed to not resume sales of laminate flooring previously imported from China and the U.S, Consumer Product Safety Commission said it will not order a product recall.
ServiceNow (NOW -1.06%) was rated a new 'Market Perform' at Oppenheimer.
Paypal Holdings (PYPL +0.35%) was rated a new 'Outperform' at Oppenheimer with a price target of $43.
Synergy Resources Corp. (SYRG -4.24%) was rated a 'Strong Buy' at Raymond James with a 12-month price target of $9.50.
Stanley Furniture (STLY -1.56%) said it hired Stephens as financial adviser on a strategic review.
MARKET COMMENTS
September E-mini S&Ps this morning are down -3.75 points (-0.18%). Thursday's closes: S&P 500 +0.31%, Dow Jones +0.53%, Nasdaq +0.21%. The S&P 500 on Thursday rebounded from a 3-week low and closed higher on reduced Brexit concerns after the murder of a UK lawmaker fueled speculation that UK voters will vote to remain in the EU. Stocks were also boosted by stronger-than-expected U.S. economic data after the +6.5 point increase in the Jun Philadelphia Fed business outlook survey to 4.7 (stronger than expectations of +2.8 to 1.0) and the +2 point gain in the Jun NAHB housing market index to 60 (stronger than expectations of +1 to 59 and a 5-month high). Stocks were undercut by the slide in European stocks to a 4-month low on concern about a possible UK "Leave" vote next Thursday. Stocks were also undercut by the unexpected +13,000 increase in weekly initial unemployment claims.
Sep 10-year T-note prices this morning are down -11 ticks. Thursday's closes: TYU6 +6.50, FVU6 +3.50. Sep T-notes on Thursday rallied to a new contract high and closed higher on increased safe-haven demand from a slide in global stocks and on carryover support from rallies in 10-year German bunds and Japanese 10-year JGBs to all-time highs. T-notes were also boosted by reduced inflation expectations as the 10-year T-note breakeven inflation rate fell to a 3-1/4 month low.
The dollar index this morning is down -0.160 (-0.17%). EUR/USD is up +0.0037 (+0.33%). USD/JPY is unchanged. Thursday's closes: Dollar Index-0.318 (-0.33%), EUR/USD -0.0023 (-0.20%), USD/JPY -1.64 (-1.55%). The dollar index on Thursday climbed to a 1-1/2 week high but fell back and closed lower. The dollar was undercut by a recovery in GBP/USD from a 2-month low after the murder of a UK lawmaker fueled speculation that UK voters will vote to remain in the EU. The dollar was also undercut as USD/JPY plunged to a 1-3/4 year low after the BOJ refrained from expanding stimulus. The dollar found support on weakness in EUR/USD on Brexit fears and on stronger-than-expected U.S. economic data that included the Jun NAHB housing market index and the Jun Philadelphia Fed index.
July WTI crude oil this morning is up +71 cents (+1.54%). July gasoline is up +0.0303 (+2.07%). Thursday's closes: CLN6 -1.85 (-3.85%), RBN6 -0.0329(-2.19%). July crude oil and gasoline prices on Thursday closed lower with July crude at a 1-month low and July gasoline at a 5-week low. Crude oil prices were undercut by concern about a possible UK Leave Brexit vote next week and the the fall in the S&P 500 to a 3-week low, which undercuts optimism about the economy and energy demand.
GLOBAL EVENT CALENDAR06/17/2016
U.S. STOCK CALENDAR06/17/2016
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Showing posts with label PE. Show all posts
Showing posts with label PE. Show all posts
Friday, June 17, 2016
MORNING CALL 6/17
MORNING CALL
Monday, May 16, 2016
Parsley Energy - Chart of the Day
Parsley Energy (PE) is the Barchart Chart of the Day. The oil exploration company has a Trend Spotter buy signal, a Weighted Alpha of 59.60+ and gained 43.08% in the last year.
The Chart of the Day belongs to Parsley Energy (PE). I found the oil exploration stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, ten again for technical buy signals of 80% or more. Next I used the Flipchart feature to review the charts for consistency.
Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.
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:
The Chart of the Day belongs to Parsley Energy (PE). I found the oil exploration stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, ten again for technical buy signals of 80% or more. Next I used the Flipchart feature to review the charts for consistency.
Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.
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:
- 96% technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 14.96% in the last month
- Relative Strength Index 61.32%
- Technical support level at 24.42
- Recently traded at 25.21 with a 50 day moving average of 22.61
Fundamental factors:
- Market Cap $3.97 billion
- Revenue expected to grow 56.80% this year and another 53.70% next year
- Earnings estimated to increase 55.60% this year, an additional 375.00% next year and continue to compound at an annual rate of 40.00% for the next 5 years
- Wall Street analysts issued 13 strong buy, 2 buy and 2 hold recommendations on the stock
Tuesday, April 5, 2016
MORNING CALL 4/5
MORNING CALL
Tuesday, April 5th, 2016View 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
Jun E-mini S&Ps (ESM16 -0.66%) are down -0.78% and European stocks are down -2.15% at a 5-week low on concern that global economic growth is faltering. German Feb factory orders unexpectedly fell by the most in 6 months and IMF Managing Director Lagarde said the world economy's outlook has dimmed. A -0.22% fall in crude oil prices to a 1-month low has also undercut energy producing stocks. The slide in stocks has boosted demand for government debt as the yield on the 10-year German bund has tumbled to an 11-1/4 month low of 0.081%. Asian stocks settled mostly lower: Japan-2.42%, Hong Kong -1.57%, China up+1.45%, Taiwan closed for holiday, Australia -1.42%, Singapore -1.21%, South Korea -1.02%, India -2.03%. The plunge in USD/JPY to a 17-month low fueled selling in Japanese exporters as Japan's Nikkei Stock Index fell to a 1-1/2 month low. Chinese stocks bucked the trend as the Shanghai Composite rallied to a 2-1/2 month high on optimism that government efforts to spur economic growth are kicking in.
The dollar index (DXY00 +0.28%) is up +0.21%. EUR/USD (^EURUSD) is down -0.25%. USD/JPY (^USDJPY) is down -0.92% to a 17-month low.
Jun T-note prices (ZNM16 +0.31%) are up +15 ticks at a 5-week high on carryover support from a rally in German bunds to an 11-1/4 month low.
IMF Managing Director Lagarde said the world economy's outlook has dimmed over the last 6 months, exacerbated by China's slowdown, lower commodity prices and the risk of financial tightening in many countries. This suggests the IMF will downgrade its growth forecast when it releases its updated World Economic Outlook on Apr 12.
Chicago Fed President Evans said "I believe it will be appropriate to make two more rate hike this year and then follow a very gradual path of rate increases thereafter." Evans projects U.S. 2016 economic growth at 2.0-2.5% and that the U.S. consumer is the "linchpin" behind the outlook.
German Feb factory orders unexpectedly fell -1.2% m/m, weaker than expectations of +0.3% m/m and the biggest decline in 6 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Key U.S. reports today include: (1) Chicago Fed President Charles Evans' speech on the economy and monetary policy at the Credit Suisse Asian Investment Conference in Hong Kong, (2) Feb U.S. trade balance (expected -$46.2 billion, Jan -$45.68 billion), (3) final-Mar Markit services PMI (expected +0.2 to 51.2, prelim-Mar +1.3 to 51.0), (4) Mar ISM non-manufacturing PMI (expected +0.8 to 54.2, Feb -0.1 to 53.4), and (5) Feb JOLTS job openings (expected -53,000 to 5.488 million, Jan +260,000 to 5.541 million).
There are 2 of the Russell 1000 companies that report earnings today: Darden Restaurants (consensus $1.20), Walgreens (1.28).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: Cowen & Co Retail & Luxury Day on Thu
OVERNIGHT U.S. STOCK MOVERS
Allergan (AGN +3.53%) dropped 22% in pre-market trading after the U.S. Treasury Department said it will introduce regulations to make it more difficult to engage in a tax strategy known as "earnings stripping," which enables U.S. subsidiaries to curb their tax bills as interest payments to their foreign parent companies are tax deductible.
Tesla (TSLA +3.96%) slipped 3% in pre-market trading after it reported Q1 deliveries of 14,820 vehicles, below consensus of 16,000.
Fifth Third Bancorp (FITB -0.30%) was downgraded to 'Market Perform' from 'Outperform' at BMO Capital Markets.
Hormel Foods (HRL -0.82%) was downgraded to 'Underweight' from 'Hold' at BB&T Capital Markets.
Northrop Grumman (NOC +0.43%) was rated a new 'Buy' at Guggenheim with a price target of $226.
General Dynamics (GD -0.49%) was rated a new 'Buy' at Guggenheim with a price target of $153.
Raytheon (RTN +0.80%) was rated a new 'Buy' at Guggenheim with a price target of $144.
Disney (DIS -0.39%) dropped 2% in pre-market trading after COO Thomas Staggs said he will step down next month.
Starbucks (SBUX -1.26%) was rated a new 'Buy' at Evercore ISI.
National Instruments (NATI -0.37%) slumped 10% in after-hours trading after it lowered guidance on Q1 adjusted EPS to 14 cents-15 cents, well below consensus of 23 cents.
Dominion Resources (D -1.07%) lost over 1% in after-hours trading after it announced a 10.2 million share secondary stock offering.
United Continental Holdings ({=UAL said it had reached tentative agreements on new contracts with its nearly 30,000 International Association of Machinists & Aerospace Workers (IAM) represented employees.
Dunkin' Brands (DNKN -0.19%) fell 2% in after-hours trading after it was initiated with a 'Sell" at Evercore ISI with a price target of $39.
Parsley Energy (PE -1.27%) dropped over 1% in after-hours trading after it announced a 16 million share offering of Class A common stock.
MARKET COMMENTS
June E-mini S&Ps (ESM16 -0.66%) this morning are down -16.00 points (-0.78%). Monday's closes: S&P 500 -0.32%, Dow Jones -0.31%, Nasdaq-0.45%. The S&P 500 on Monday closed lower on weakness in energy producers after the price of crude oil fell to a 1-month low and on hawkish comments from Boston Fed President Rosengren who said that predictions of just one interest-rate hike before Dec 31 are "unduly pessimistic." Stocks were also undercut by -0.8% decline in U.S. Feb factory orders ex-transportation, weaker than expectations of -0.5%.
June 10-year T-note prices (ZNM16 +0.31%) this morning are up +15 ticks at a 5-week high. Monday's closes: TYM6 +5.50, FVM6 +2.75. Jun T-notes Monday climbed to a 1-month high on the weaker-than-expected U.S. Feb factory orders report ex-transporation of -0.8% and on carryover support from a rally in German bunds to a 1-month high after ECB Executive Board member Praet said that the ECB will continue to act "forcefully" if needed to counter the risk of low inflation in the Eurozone becoming entrenched.
The dollar index (DXY00 +0.28%) this morning is up +0.197 (+0.21%). EUR/USD (^EURUSD) is down -0.0029 (-0.25%). USD/JPY (^USDJPY) is down-1.02 (-0.92%) at a 17-month low. Monday's closes: Dollar Index -0.109 (-0.12%), EUR/USD unch, USD/JPY -0.35 (-0318%). The dollar index in Monday closed lower on strength in the yen as USD/JPY fell to a 2-week low and on the weaker-than-expected decline in U.S. Feb factory orders ex-transportation.
May WTI crude oil (CLK16 +0.08%) is down -8 cents (-0.22%) at a fresh 1-month low. May gasoline (RBK16 +0.80%) is up +0.0096 (+0.70%). Monday's closes: CLK6 -1.33 (-3.62%), RBK6 -0.0256 (-1.83%). May crude oil and gasoline on Monday closed lower with May crude at a 1-month low. Crude oil prices saw continued weakness from reduced optimism about an OPEC oil production freeze after Saudi Arabia's deputy crown prince last Friday said that Saudi Arabia will not agree to freeze production at the upcoming April 17 meeting in Doha if Iran does not agree as well.
GLOBAL EVENT CALENDAR04/05/2016
| US | 0100 ET | Chicago Fed President Charles Evans speaks on the economy and monetary policy at the Credit Suisse Asian Investment Conference in Hong Kong. |
| 0830 ET | Feb trade balance expected -$46.2 billion, Jan -$45.68 billion. | |
| 0945 ET | Final-Mar Markit services PMI expected +0.2 to 51.2, prelim-Mar +1.3 to 51.0. Final-Mar Markit composite PMI, prelim-Mar +1.1 to 51.1. | |
| 1000 ET | Mar ISM non-manufacturing PMI expected +0.8 to 54.2, Feb -0.1 to 53.4. | |
| 1000 ET | Feb JOLTS job openings expected -53,000 to 5.488 million, Jan +260,000 to 5.541 million. | |
| GER | 0200 ET | German Feb factory orders expected +0.3% m/m and +2.2% y/y, Jan -0.1% m/m and +1.1% y/y. |
| 0355 ET | Revised German Mar Markit services PMI, preliminary +0.2 to 55.5. | |
| EUR | 0400 ET | Revised Eurozone Mar Markit composite PMI, preliminary +0.7 to 53.7. |
| 0500 ET | Eurozone Feb retail sales expected unch m/m and +1.9% y/y, Jan +0.4% m/m and +2.0% y/y. | |
| UK | 0430 ET | UK Mar Markit/CIPS services PMI expected +0.8 to 53.5, Feb 52.7. |
| 1901 ET | UK Mar BRC shop price index, Feb -2.0% y/y. |
U.S. STOCK CALENDAR04/05/2016
| Company | Ticker | Time | Event Description | Period | Estimate |
|---|---|---|---|---|---|
| Darden Restaurants Inc | DRI US | Bef-mkt | Q3 2016 Earnings Release | Q3 2016 | 1.199 |
| Walgreens Boots Alliance Inc | WBA US | 7:00 | Q2 2016 Earnings Release | Q2 2016 | 1.28 |
| Walgreens Boots Alliance Inc | WBA US | 8:30 | Q2 2016 Earnings Call | Q2 2016 | |
| Darden Restaurants Inc | DRI US | 8:30 | Q3 2016 Earnings Call | Q3 2016 | |
| NVIDIA Corp | NVDA US | 14:30 | Investor Day | Y 2016 | |
| First Solar Inc | FSLR US | Analyst Meeting | Y 2016 |
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