MORNING CALL 9/21

MORNING CALL

Wednesday, September 21st, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ16 +0.46%) are up +0.42% and European stocks are up +1.43% at a 1-week high on signs that global central banks will maintain their overly easy monetary policies in an attempt to spur economic growth and revive inflation. A rally in energy producing stocks is also giving equity markets a boost with crude oil (CLX16 +2.07%) up +2.09% after API data late Tuesday showed U.S. crude stockpiles dropped -7.5 million bbl last week. Asian stocks settled mostly higher: Japan +1.91%, Hong Kong +0.59%, China +0.10%, Taiwan +0.73%, Australia +0.68%, Singapore -0.14%, South Korea +0.56%, India -0.06%. Japan's Nikkei Stock Index rallied up to a 1-1/2 week high as banks and insurance companies led the overall market higher after the BOJ refrained from cutting interest rates further below zero and shifted the focus of its stimulus to controlling the yield curve.

The dollar index (DXY00 -0.02%) is down -0.06%. EUR/USD (^EURUSD) is down -0.06%. USD/JPY (^USDJPY) is down -0.24% at a 3-week low.

Dec T-note prices (ZNZ16 -0.02%) are down -1.5 ticks.

The BOJ kept its benchmark interest rate at -0.1% and said it will maintain its asset purchase target at 80 trillion yen a year, but announced a new package which shifts its emphasis from just managing the key interest rate and buying assets to controlling the yield curve. The BOJ said it will buy bonds in a way that ensures the 10-year government bond yield remains more or less where it is, around 0%, as part of its "yield curve management." The BOJ also said it would continue expanding its monetary base until inflation overshoots its 2% target and stays above it.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +4.2% with purchase sub-index +8.6% and refi sub-index +1.7%), (2) 2-day FOMC meeting concludes with policy announcement, updated economic projections, and a press conference by Fed Chair Yellen, and (3) EIA Weekly Petroleum Status Report.

Russell 1000 companies that report earnings today: General Mills (consensus $0.76), CarMax (0.88), Red Hat (0.54), Bed, Baty & Beyond (1.17), Jabil Circuit (0.25).

U.S. IPO's scheduled to price today: elf Beauty Inc (ELF), Capstar Financial Holdings (CSTR).

Equity conferences this week include: Finance Montreal FinTech Forum on Tue-Wed, Johnson Rice Energy Conference on Tue-Wed, Goldman Sachs Communicopia Conference on Tue-Thu, Finance Shared Services & GBS Exchange Conference on Wed.

OVERNIGHT U.S. STOCK MOVERS

Microsoft (MSFT -0.21%) rose over 1% in pre-market trading after it raised its quarterly dividend by 3 cents to 39 cents and authorized the byback of an additional $40 billion of stock on top of an existing $40 billion repurchase program.

Cooper Cos. (COO -1.09%) gained 1% in after-hours trading after it was announced that it will replace Starwood Hotels & Resorts in the S&P 500 Index at the close of trading on Thursday, September 22.

SPS Commerce (SPSC +0.78%) jumped over 5% in after-hours trading after it was announced that it will replace Northwestern in the S&P SmallCap 600 at the close of trading on Thursday, September 22.

Adobe Systems (ADBE +0.94%) climbed nearly 5% in pre-market trading after it reported Q3 adjusted EPS of 75 cents, better than consensus of 72 cents, and then raised guidance on fiscal 2016 adjusted EPS to $2.94-$3.00, higher than consensus of $2.87.

KB Home (KBH -2.42%) gained over 3% in after-hours trading after it reported Q3 net orders were up +16% y/y, well above consensus of +2.8%.

FedEx (FDX +0.86%) rose almost 3% in after-hours trading after it reported Q1 adjusted EPS of $2.90, higher than consensus of $2.79.

The Children's Place (PLCE -1.02%) was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray with a 12-month target price of $88.

Clovis Oncology (CLVS +12.68%) rallied over 8% in after-hours trading after Janney said there are a "long list" of potential suitors for Clovis.

Airgain (AIRG +10.64%) gained over 4% in after-hours trading after it reported Q2 sales surged +63% y/y to $6.1 million.

CommScope Holding Co. (COMM -0.77%) slid 1% in after-hours trading after holder Carlyle said it sold 10 million common shares of CommScope.

Adamas Pharmaceuticals (ADMS +2.32%) jumped 5% in after-hours trading after the results of a Phase 3 trial of ADS-5102 for the treatment of Levodopa-induced Dyskinesia in patients with Parkinson's met its primary endpoint.

Nu Skin Enterprises (NUS -1.32%) rose over 3% in after-hours trading after it raised its Q3 revenue view to slightly above a prior forecast of $560 million-$580 million due to success of recent product introductions and "favorable" currency trends.

Mirna Therapeutics (MIRN -0.40%) plunged over 25% in after-hours trading after it said it was closing a Phase 1 study of its MRX34 in melanoma patients due to serious adverse events in patients taking the drug.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ16 +0.46%) this morning are up +9.00 points (+0.42%). Tuesday's closes: S&P 500 +0.03%, Dow Jones +0.05%, Nasdaq +0.19%. The S&P 500 on Tuesday closed slightly higher as the market awaited Wednesday's outcome of the FOMC meeting, which is likely to produce hawkish language but not a rate hike. Energy producer stocks received a boost from the +0.43% rally in crude prices. Stocks were undercut by the weak Aug housing starts report of -5.8%, which implied less stimulus from the housing sector.

Dec 10-year T-notes (ZNZ16 -0.02%) this morning are down -1.5 ticks. Tuesday's closes: TYZ6 +2.50, FVZ6 +0.50. Dec T-notes on Tuesday closed higher on the weaker-than-expected U.S. Aug housing starts and building permits reports and on expectations for the FOMC on Wednesday to refrain from a rate hike.

The dollar index (DXY00 -0.02%) this morning is down -0.056 (-0.06%). EUR/USD (^EURUSD) is down -0.0007 (-0.06%). USD/JPY (^USDJPY) is down-0.24 (-0.24%). Tuesday's closes: Dollar index +0.178 (+0.19%), EUR/USD -0.0024 (-0.21%), USD/JPY -0.23 (-0.23%). The dollar index on Tuesday closed higher on speculation that the Fed may be hawkish in its post-FOMC meeting statement as it may prepare the markets for a Dec rate hike. In addition, there was weakness in EUR/USD after German Aug PPI weakened more than expected, which fueled speculation the ECB may expand stimulus.

Nov crude oil (CLX16 +2.07%) this morning is up +92 cents (+2.09%) and Nov gasoline (RBX16 +2.60%) is up +0.0356 (+2.69%). Tuesday's closes: CLX6 +0.19 (+0.43%), RBX6 -0.0280 (-2.07%). Nov crude oil and gasoline on Tuesday settled mixed with Nov gasoline at a 2-week low. Crude oil prices was undercut by a stronger dollar and the slide in gasoline prices after Colonial said it will restart its damaged gasoline pipeline in Alabama one day earlier than scheduled, which should ease East Coast supply concerns. Crude oil was also undercut by expectations for Wednesday's EIA crude inventories to climb +3.25 million bbl. Crude oil recovered from a 1-1/4 month low and closed higher after Algerian Energy Minister Noureddine Bouterfa said OPEC may turn the informal meeting in Algiers on Sep 28 into a formal meeting as it seeks ways among producers to cut crude supplies by 1.0 million bpd to rebalance and stabilize the oil market.

GLOBAL EVENT CALENDAR09/21/2016

		Wednesday, Sep 21
US	0700 ET	Weekly MBA mortgage applications, previous +4.2% with purchase sub-index +8.6% and refi sub-index +1.7%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1400 ET	FOMC announces interest rate decision and provides a summary of economic projections. Fed Chair Yellen holds press conference.
		Thursday, Sep 22
US	0830 ET	Weekly initial unemployment claims expected +1,000 to 261,000, previous +1,000 to 260,000. Weekly continuing claims expected -2,000 to 2.141 million, previous +1,000 to 2.143 million.
	0830 ET	Aug Chicago Fed national activity index expected -0.12 to 0.15, Jul +0.22 to 0.27.
	0830 ET	USDA weekly Export Sales.
	0900 ET	Jul FHFA house price index expected +0.3% m/m, Jun +0.2% m/m.
	1000 ET	Aug existing home sales expected +1.1% to 5.45 million, Jul -3.2% to 5.39 million.
	1000 ET	Aug leading indicators expected unchanged m/m, Jul +0.4%.
	1100 ET	Sep Kansas City Fed manufacturing survey expected +1 to -3, Aug +2 to -4.
	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 Sep 26-28.
	1300 ET	Treasury auctions $13 billion of 10-year TIPS.
	1300 ET	Atlanta Fed President Dennis Lockhart (non-voter) gives welcoming and introductory remarks at an Atlanta Fed conference on Unemployment, Wages and Productivity.
EUR	0400 ET	ECB publishes economic bulletin.
	1000 ET	Eurozone Sep consumer confidence expected +0.3 to -8.2, Aug -0.6 to -8.5.
UK	0600 ET	UK Sep CBI trends total orders expected unch at -5. Sep CBI trends selling prices expected +2 to 10, Aug 8.
JPN	n/a	Japanese markets closed for Autumnal Equinox Day.
	2230 ET	Japan Sep Nikkei manufacturing PMI, Aug +0.2 to 49.5.

U.S. STOCK CALENDAR09/21/2016

Company	Ticker	Time	Event Description	Period	Estimate
General Mills Inc	GIS US	7:00	Q1 2017 Earnings Release	Q1 2017	0.759
CarMax Inc	KMX US	7:00	Q2 2017 Earnings Release	Q2 2017	0.881
General Mills Inc	GIS US	8:30	Q1 2017 Earnings Call	Q1 2017
Allergan plc	AGN US	8:30	Acquisition of Tobira Therapeutics Inc. by Allergan plc Call
Brocade Communications Systems Inc	BRCD US	9:00	Investor Day	Y 2016
CarMax Inc	KMX US	9:00	Q2 2017 Earnings Call	Q2 2017
Intuit Inc	INTU US	11:00	Investor Day	Y 2016
Copart Inc	CPRT US	11:00	Q4 2016 Earnings Call	Q4 2016
Applied Materials Inc	AMAT US	13:30	Analyst Day	Y 2016
Retail Properties of America Inc	RPAI US	16:00	Investor and Analyst Day	Y 2016
Red Hat Inc	RHT US	16:15	Q2 2017 Earnings Release	Q2 2017	0.539
Jabil Circuit Inc	JBL US	16:30	Q4 2016 Earnings Call	Q4 2016
Bed Bath & Beyond Inc	BBBY US	17:00	Q2 2017 Earnings Call	Q2 2017
Red Hat Inc	RHT US	17:00	Q2 2017 Earnings Call	Q2 2017
Alphabet Inc	GOOGL US	17:00	ITC Due to Announce Next Step in Google vs Creative Technology Patent Case
Bed Bath & Beyond Inc	BBBY US	Aft-mkt	Q2 2017 Earnings Release	Q2 2017	1.161
Jabil Circuit Inc	JBL US	Aft-mkt	Q4 2016 Earnings Release	Q4 2016	0.249
Raymond James Financial Inc	RJF US		August 2016 Sales and Revenue Release - Operating Data	2016

MORNING CALL 5/18

MORNING CALL

Wednesday, May 18th, 2016View Older Reports

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OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 +0.06%) are down -0.10% and European stocks are down -0.16% ahead of the minutes of the Apr 26-27 FOMC meeting. The minutes take on extra importance after stocks fell yesterday on hawkish Fed commentary. Atlanta Fed President Lockhart said that "currently my assumption is two, possibly three" Fed rate hikes this year and San Francisco Fed President Williams said that "gradual means two to three rate increases this year." Another negative for equities is weakness in mining stocks as the price of copper (HGN16 -1.34%) falls -1.60% to a 3-month low. On the positive side, Lowe's is up 3% in pre-market trading after it reported stronger-than-expected Q1 EPS and Tesla is up 3% after Goldman Sachs raised its recommendation on the stock to a 'Buy.' Asian stocks settled mostly lower: Japan -0.05%, Hong Kong -1.45%, China -1.27%, Taiwan +0.24%, Australia -0.74%, Singapore -0.14%, South Korea -0.50%, India -0.27%. Asian stocks retreated as better-than-expected economic data on China Apr new home prices and Japan Q1 GDP reduces the need for additional central bank stimulus measures.

The dollar index (DXY00 +0.19%) is up +0.20% at a 3-week high. EUR/USD (^EURUSD) is down -0.34% at a 3-week low. USD/JPY (^USDJPY) is up +0.24%.

Jun T-note prices (ZNM16 -0.16%) are down -6.5 ticks at a 2-week low.

China Apr new home prices rose in 65 cities out of 70 tracked by the government, up from 62 in Mar and the most in 2-1/3 years.

ECB Governing Council member Vasiliauskas said he doesn't expect any "big changes" to ECB staff economic projections in June and said there is "no need" to discuss QE expansion for now.

Japan Q1 GDP grew +1.7% (q/q annualized), much stronger than expectations of +0.3% (q/q annualized). The Q1 GDP deflator rose +0.9% y/y, weaker than expectations of +1.0% y/y and the slowest pace of increase in 2 years.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +0.4% with purchase sub-index +0.4% and refi sub-index +0.5%), (2) minutes of the Apr 26-27 FOMC meeting, and (3) EIA Weekly Petroleum Status Report.

There are 9 of the S&P 500 companies that report earnings today: Target (consensus $1.19), Hormel Foods (0.39), Analog Devices (0.63), L Brands (0.55), Cisco Systems (0.55), Urban Outfitters (0.25), salesforce.com (0.23), Lowes (0.85), Staples (0.16).

U.S. IPO's scheduled to price today: Merus BV (MRUS).

Equity conferences today: Electrical Products Group Investor Conference on Mon-Wed, Goldman Sachs Basic Materials Conference on Tue-Wed, Barclays Americas Select Franchise Conference on Tue-Wed, CBI's Life Sciences IT Governance and Cybersecurity Summit on Tue-Wed, Barclays Insurance Forum on Wed, MoffettNathanson Media and Communications Conference on Wed, BMO Capital Markets Farm to Market Conference on Wed-Thu, Citi Car of the Future Symposium on Thu, ITG Global Industrials Conference on Thu, Needham Emerging Technology Conference Thu, Business Analytics Innovation Summit on Thu-Fri, Medical Affairs Summit on Fri.

OVERNIGHT U.S. STOCK MOVERS

Scripps Networks Interactive (SNI +0.36%) was downgraded to 'Sell' from 'Neutral' at Citigroup with a price target of $62.

Lowe's (LOW -1.21%) rose 3% in pre-market trading after it reported Q1 adjusted EPS of 87 cents, higher than consensus of 85 cents.

Tesla (TSLA -1.74%) gained 3% in pre-market trading after it was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.

Host Hotels & Resorts (HST -0.90%) was upgraded to 'Market Perform' from 'Underperform' at Raymond James.

The Children's Place (PLCE +4.13%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs with a price target of $74.

Brocade Communications Systems (BRCD +0.25%) was rated a new 'Buy' at Bank of America Merrill Lynch with a price target of $10.

Valeant Pharmaceuticals (VRX +7.50%) said it is exploring the sale of some of its cosmetic and pharmaceutical assets to reduce some of its debt.

Acxion (ACXM -1.93%) dropped over 6% in after-hours trading after it lowered guidance on fiscal 2017 adjusted EPS to 55 cents to slightly higher, below consensus of 65 cents.

Dynagas LNG Partners (DLNG +0.38%) reported Q1 adjusted EPS/unit 48 cents, higher than consensus of 45 cents.

Allegheny Technologies (ATI unch) fell over 1% in after-hours trading after it announced plans for a convertible offering of senior notes.

Vipshop Holdings Ltd. (VIPS -1.05%) slumped nearly 10% in after-hours trading after it said its sees Q2 revenue of 12.3 billion yuan-12.8 billion yuan, below consensus of 12.81 billion yuan.

Andersons Inc. (ANDE -2.22%) surged nearly 20% in after-hours trading after HC2 Holdings offered to acquire the company for $37 a share, well above Tuesday's closing price of $25.94.

MARKET COMMENTS

June E-mini S&Ps (ESM16 +0.06%) this morning are down -2.00 points (-0.10%). Tuesday's closes: S&P 500 -0.94%, Dow Jones -1.02%, Nasdaq-1.32%. The S&P 500 on Tuesday closed lower on concern that the Fed may raise interest rates sooner rather than later after U.S. Apr CPI rose +0.4% m/m (stronger than expectations of +0.3% m/m and the largest increase in 3 years) and the hawkish comment from San Francisco Fed President Williams that it "makes sense" for 2-3 Fed rate hikes this year. Stocks were supported by optimism about the economy after the +0.7% increase in U.S. Apr industrial production (stronger than expectations of +0.3% and the biggest gain in 17 months) and the +6.6% rise in Apr housing starts to 1.172 million (stronger than expectations of +3.3% to 1.125 million).

June 10-year T-note prices (ZNM16 -0.16%) this morning are down -6.5 ticks at a 2-week low. Tuesday's closes: TYM6 -14.50, FVM6 -8.75. Jun T-notes on Tuesday posted a 1-1/2 week low and closed lower on the stronger-than-expected Apr housing starts, Apr CPI, and Apr industrial production reports. There were also increased inflation expectations after the 10-year T-note breakeven rate rose to a 2-week high. T-notes received underlying support from safe-haven demand as equities sold off.

The dollar index (DXY00 +0.19%) this morning is up +0.284 (+0.30%) at a 3-week high. EUR/USD (^EURUSD) is down -00038 (-0.34%) at a 3-week low. USD/JPY (^USDJPY) is up +0.26 (+0.24%). Tuesday's closes: Dollar Index -0.024 (-0.03%), EUR/USD -0.0008 (-0.07%), USD/JPY +0.11 (+0.10%). The dollar index on Tuesday closed lower on strength in the currencies of the crude-producing countries of Russia and Canada after the price of crude oil rose to a 7-month high. The dollar failed to receive much of a boost from the sharp increase in expectations for a Fed rate hike this year after the strong U.S. economic reports and the hawkish comments by two Fed officials.

June WTI crude oil (CLM16 +0.06%) this morning is up +16 cents (+0.33%). June gasoline (RBM16 -0.04%) is up +0.0003 (+0.02%). Tuesday's closes: CLM6 +0.59 (+1.24%), RBM6 +0.0278 (+1.73%). Jun crude oil and gasoline on Tuesday closed higher with Jun crude at a 7-month high. Crude oil prices were boosted by a weaker dollar and by expectations that Wednesday's weekly EIA data will show that U.S. crude inventories fell -3.5 million bbl and gasoline supplies declined by -1.25 million bbl.

GLOBAL EVENT CALENDAR05/18/2016

US	0700 ET	Weekly MBA mortgage applications, previous +0.4% with purchase sub-index +0.4% and refi sub-index +0.5%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1400 ET	Minutes of the Apr 26-27 FOMC meeting.
UK	0430 ET	UK Apr jobless claims change expected +5,000, Mar +6,700. Apr claimant count rate expected unch at 2.1%.
	0430 ET	UK Mar avg weekly earnings expected +1.7% 3-mo avg y/y, Feb +1.8% 3-mo avg y/y. Mar avg weekly earnings ex-bonus expected +2.3% 3-mo avg y/y, Feb +2.2% 3-mo avg y/y.
	0430 ET	UK Mar ILO unemployment rate expected unch at 5.1% 3-months through Mar, previous 5.1% 3-months through Feb.
EUR	0500 ET	Revised Eurozone Apr CPI, preliminary unch y/y. Revised Apr core CPI, preliminary +0.7% y/y.
JPN	1950 ET	Japan Q1 housing loans, Q4 +2.2% y/y.
	1950 ET	Japan Mar machine orders expected -2.0% m/m and +0.8% y/y, Feb -9.2% m/m and -0.7% y/y.

U.S. STOCK CALENDAR05/18/2016

Company	Ticker	Time	Event Description	Period	Estimate
Target Corp	TGT US	Bef-mkt	Q1 2017 Earnings Release	Q1 2017	1.192
Hormel Foods Corp	HRL US	Bef-mkt	Q2 2016 Earnings Release	Q2 2016	0.388
Progressive Corp/The	PGR US	Bef-mkt	April 2016 Sales and Revenue Release	2016
Hormel Foods Corp	HRL US	8:00	Q2 2016 Earnings Call	Q2 2016
Northrop Grumman Corp	NOC US	8:00	Annual General Meeting	Y 2016
Staples Inc	SPLS US	8:00	Q1 2017 Earnings Call	Q1 2017
DaVita HealthCare Partners Inc	DVA US	8:30	Capital Markets Day	Y 2016
Lowe's Cos Inc	LOW US	9:00	Q1 2017 Earnings Call	Q1 2017
Thermo Fisher Scientific Inc	TMO US	9:00	Analyst Meeting	Y 2016
State Street Corp	STT US	9:00	Annual General Meeting	Y 2016
Analog Devices Inc	ADI US	10:00	Q2 2016 Earnings Release	Q2 2016	0.634
Analog Devices Inc	ADI US	10:00	Q2 2016 Earnings Call	Q2 2016
Fiserv Inc	FISV US	10:00	Annual General Meeting	Y 2016
Target Corp	TGT US	10:30	Q1 2017 Earnings Call	Q1 2017
CenturyLink Inc	CTL US	11:00	Annual General Meeting
Southwest Airlines Co	LUV US	11:00	Annual General Meeting	Y 2016
PayPal Holdings Inc	PYPL US	11:30	Analyst and Investor Day	Y 2016
Halliburton Co	HAL US	12:00	Annual General Meeting	Y 2016
Xcel Energy Inc	XEL US	12:00	Annual General Meeting	Y 2016
Thermo Fisher Scientific Inc	TMO US	13:00	Annual General Meeting
Cisco Systems Inc	CSCO US	16:30	Q3 2016 Earnings Call	Q3 2016
CME Group Inc/IL	CME US	16:30	Annual General Meeting	Y 2016
Urban Outfitters Inc	URBN US	17:00	Q1 2017 Earnings Call	Q1 2017
salesforce.com Inc	CRM US	17:00	Q1 2017 Earnings Call	Q1 2017
L Brands Inc	LB US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	0.553
Cisco Systems Inc	CSCO US	Aft-mkt	Q3 2016 Earnings Release	Q3 2016	0.552
Urban Outfitters Inc	URBN US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	0.248
salesforce.com Inc	CRM US	Aft-mkt	Q1 2017 Earnings Release	Q1 2017	0.233
Johnson & Johnson	JNJ US		Investor Day
Lowe's Cos Inc	LOW US		Q1 2017 Earnings Release	Q1 2017	0.849
Pinnacle West Capital Corp	PNW US		Annual General Meeting
Universal Health Services Inc	UHS US		Annual General Meeting
Foot Locker Inc	FL US		Annual General Meeting
Range Resources Corp	RRC US		Annual General Meeting
Ross Stores Inc	ROST US		Annual General Meeting
Staples Inc	SPLS US		Q1 2017 Earnings Release	Q1 2017	0.163
Hartford Financial Services Group Inc/The	HIG US		Annual General Meeting
National Oilwell Varco Inc	NOV US		Annual General Meeting
Quest Diagnostics Inc	DGX US		Annual General Meeting
NVIDIA Corp	NVDA US		Annual General Meeting
Advance Auto Parts Inc	AAP US		Annual General Meeting
Illumina Inc	ILMN US		Annual General Meeting
Mondelez International Inc	MDLZ US		Annual General Meeting
First Solar Inc	FSLR US		Annual General Meeting
Verisk Analytics Inc	VRSK US		Annual General Meeting

Children's Place - Chart of the Day

The Children's Place (PLCE) is the Barchart  Chart of the Day.  The children's apparel and accessory retailer has a Trend Spotter buy signal, a Weighted Alpha of 33.06+ and gained 38.53% in the last year.

The Chart of the Day belongs to The Children's Place (PLCE). I found the children's clothing and accessory retailer by using Barchart to sort today's All Time High list first for the highest number of new highs in the last month, then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 12/8 the stock gained 39.52%.

The Children's Place Retail Stores, Inc. is a growing specialty retailer of apparel and accessories for children from newborn to twelve years of age. The company designs, sources and markets the products under the proprietary `The Children's Place` brand name for sale exclusively in the stores. The merchandising objective is to provide the customers with high-quality, fashionable products at prices that represent substantial value relative to the competitors.

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 22.59% in the last month
• Relative Strength Index 83.66%
• Technical support level at 68.44
• Recently traded at 76.43 with a 50 day moving average of 65.09

Fundamental factors:

• Market Cap $1.55 billion
• P/E 20.44
• Dividend yield .87%
• Revenue expected to shrink 2.10% this year but increase again by .50% next year
• Earnings estimated to increase by 15.70% this year, another 11.60% next year and continue to compound at an annual rate of 10.07% for the next 5 years
• Wall Street analysts issued 2 strong buy, 3 buy, 9 hold and 1 under perform report on this stock

BARACHART MORNING CALL 5/7

BARCHART MORNING CALL

Thursday, May 7th, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 -0.23%) this morning are down -0.54% at a 1-month low and European stocks are down -1.35% at a 2-1/2 month low amid carry-over selling from Wednesday's rout after Fed Chair Yellen said equity market valuations are high. The slide in global government bond markets continued as well after Fed Chair Yellen said that long-term rates are low and could jump when the Fed begins to raise interest rates. The German 10-year bund yield climbed to a 4-3/4 month high of .777% and the U.S. 10-year T-note yield rose to a 4-3/4 month high of 2.31%. On the positive side, Greece's ASE Stock Index is up +2.39% as bank stocks rose after the ECB boosted emergency funding to Greece's central bank. The yield on the Greek 10-year bond fell -33 bp to 10.90% after the ECB raised the cap on Emergency Liquidity Assistance to the Greek central bank by 2 billion euros to 78.9 billion euros. Asian stocks closed lower: Japan -1.23%, Hong Kong -1.27%, China -2.77%, Taiwan -1.16%, Australia -0.82%, Singapore -0.78%, South Korea -0.59%, India -0.44%. China's Shanghai Composite slid to a 3-week low after Morgan Stanley downgraded Chinese stocks for the first time in 7 years to 'Equalweight' from 'Overweight,' citing the weakest corporate profits since 2009.
Commodity prices are mixed. Jun crude oil (CLM15 +0.13%) is down -0.03% and Jun gasoline (RBM15 -0.27%) is down -0.39%. Metals prices are mixed. Jun gold (GCM15 -0.42%) is down -0.60%. Jul copper (HGN15 +0.12%) is up +0.29%. Agriculture prices are mixed.
The dollar index (DXY00 +0.10%) is up +0.02%. EUR/USD (^EURUSD) is down -0.15%. USD/JPY (^USDJPY) is down -0.28%.

Jun T-note prices (ZNM15 +0.11%) are down -5.5 ticks at a 1-3/4 month low on negative carry-over from a slide in global bond markets. The yield on the 10-year Germany bund jumped to a 4-3/4 month high on .777% and has surged over 60 bp in the past week.
According to two officials who spoke on conditions of anonymity, ECB officials want progress at Monday's meeting of Eurozone finance ministers with Greece in reaching an agreement with international creditors or they will consider tightening Greek banks' access to emergency liquidity. One official said that are prepared to raise haircuts, the discounts imposed on collateral pledged by Greek banks in return for funding, to levels seen last year.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) Apr Challenger job cuts (Mar was +6.4% y/y), (2) weekly initial unemployment claims (expected +16,000 to 278,000 after last week's -34,000 to 262,000) and continuing claims (expected +17,000 to 2.270 million after last week's -74,000 to 2.253 million), and (3) Mar consumer credit (expected +$15.800 billion after Feb's +$15.516 billion).
There are 17 of the S&P 500 companies that report earnings today with notable reports including: Priceline (consensus $7.74), NVIDIA (0.34), CA (0.50), Monster Beverage (0.68), CBS (0.75), Molson Coors Brewing (0.68).
U.S. IPO's scheduled to price today include: International Market Centers (IMC), Bojangles Inc (BOJA), Anterios (ANTE), NephroGenex (NRX), Hemishere Media Group (HMTV), Aldeyra Therapeutics (ALDX).
Equity conferences during the remainder of this week include: Baird Growth Stock Conference on Tue-Thu, Deutsche Bank Health Care Conference on Wed-Thu, ICI General Membership Meeting on Wed-Thu, Citi Car of the Future Conference on Thu, Mitsubishi UFJ Securities Oil & Gas Conference on Thu, and RBC Capital Markets Mobile & Cloud Networking Investor Day on Thu.

OVERNIGHT U.S. STOCK MOVERS

Sunoco (SXL -0.85%) reported a Q1 EPS loss with items of -10 cents, much weaker than consensus of 40 cents.
Children's Place (PLCE +7.78%) was upgraded to 'Neutral' from 'Sell' at Goldman Sachs.
Energy Transfer Equity (ETE -1.90%) reported Q1 EPS of 52 cents, well below consensus of 70 cents.
General Cable (BGC -0.92%) reported Q1 adjusted EPS of 35 cents, much better than consensus for a -13 cent loss.
Babcock & Wilcox (BWC +0.44%) reported Q1 adjusted EPS of 47 cents, higher than consensus of 43 cents.
Transocean (RIG +0.05%) reported Q1 adjusted EPS of $1.10, well above consensus of 60 cents.
Chesapeake Energy (CHK -7.19%) was downgraded to 'Neutral' from 'Buy' at SunTrust.
Pioneer Natural Resources (PXD -1.93%) was upgraded to 'Buy' from 'Neutral' at SunTrust with a price target of $190.
Tesla (TSLA -1.08%) rose nearly 2% in pre-market trading after it reported a Q1 EPS loss of -36 cents, a smaller loss than consensus of-50 cents.
Activision Blizzard (ATVI +2.16%) reported Q1 EPS of 16 cents, more than double consensus of 7 cents.
Prudential (PRU +0.36%) reported Q1 adjusted EPS of $2.79, well above consensus of $2.38.
MetLife (MET -0.63%) reported Q1 operating EPS of $1.44, above consensus of $1.41, but Q1 operating revenue of $17.03 billion was less than consensus of $17.53 billion.
Whole Foods Market (WFM +0.40%) slid 12% in after-hours trading after it reported Q2 EPS of 44 cents, higher than consensus of 43 cents, although Q2 revenue of $3.65 billion was below consensus of $3.70 billion.
21st Century Fox (FOXA -0.71%) reported Q3 EPS of 47 cents, above consensus of 39 cents.
Keurig Green Mountain (GMCR -1.75%) fell 12% in after-hours trading after it reported Q2 EPS of $1.03, below consensus of $1.05.

MARKET COMMENTS

June E-mini S&Ps (ESM15 -0.23%) this morning are down -11.25 points (-0.54%) at a new 1-month low. Wednesday's closes: S&P 500 -0.45%, Dow Jones -0.48%, Nasdaq -0.67%. The S&P 500 on Wednesday sold off to a 1-month low on the weaker than expected +169,000 increase in the ADP employment report and Fed Chair Yellen's comment that stock market valuations are "quite high" and could be a potential source of financial instability.
Jun 10-year T-notes (ZNM15 +0.11%) this morning are down -5.5 ticks to a new 1-3/4 month low. Wednesday's closes: TYM5 -10.50, FVM5 -4.50. Jun T-notes on Wednesday fell to a 1-3/4 month low on carry-over weakness from the plunge in German bund prices to a 4-month low and on Fed Chair Yellen's comment that long-term interest rates are low and could jump when they Fed begins to raise interest rates.
The dollar index (DXY00 +0.10%) this morning is up +0.019 (+0.02%). EUR/USD (^EURUSD) is down -0.0017 (-0.15%). USD/JPY (^USDJPY) is down -0.33 (-0.28%). Wednesday's closes: Dollar Index -0.989 (-1.04%), EUR/USD +0.0162 (+1.45%), USD/JPY -0.388 (-0.32%). The dollar index on Wednesday fell sharply to a 2-1/2 month low on the weaker-than-expected Apr ADP employment report, which may delay a Fed rate hike. Meanwhile, EUR/USD climbed to a 2-1/4 month high after the Eurozone Apr Markit composite PMI was revised higher by +0.4 to 53.9.
Jun WTI crude oil (CLM15 +0.13%) this morning is down -2 cents (-0.03%) and Jun gasoline (RBM15 -0.27%) is down -0.0079 (-0.39%). Wednesday's closes: CLM5 +0.53 (+0.88%), RBM5 -0.0380 (-1.84%). Jun crude oil and gasoline prices on Wednesday settled mixed with Jun crude at a 4-3/4 month high. Crude oil prices were boosted by the unexpected -3.88 million bbl decline in EIA crude inventories, the first decline in 17 weeks. In addition, U.S. crude oil production fell by -4,000 bpd, which was the third decline in the past four weeks. Gasoline closed lower after news that U.S. fuel consumption fell to an 11-month low of 18.196 million bpd.

GLOBAL EVENT CALENDAR05/07/2015

US	0730 ET	Apr Challenger job cuts, Mar +6.4% y/y.
	0830 ET	Weekly initial unemployment claims expected +17,000 to 279,000, previous -34,000 to 262,000. Weekly continuing claims expected +17,000 to 2.270 million, previous -74,000 to 2.253 million.
	0830 ET	USDA weekly Export Sales.
	1500 ET	Mar consumer credit expected +$15.800 billion, Feb +$15.516 billion.
GER	0200 ET	German Mar factory orders expected +1.5% m/m and +1.9% y/y, Feb -0.9% m/m and -1.3% y/y.
	0330 ET	German Apr Markit construction PMI, Mar 53.3.
UK	0400 ET	UK Apr new car registrations, Mar +6.0% y/y.
	n/a	UK general election.
CHI	n/a	China Apr trade balance expected +$39.60 billion, Mar +$3.08 billion. Apr exports expected +1.9% y/y, Mar 15.0% y/y. Apr imports expected -12.2% y/y, Mar -12.7% y/y.

U.S. STOCK CALENDAR05/07/2015

Company	Ticker	Time	Event Description	Period	Estimate
Becton Dickinson and Co	BDX US	Bef-mkt	Q2 2015 Earnings Release	Q2 2015	1.535
PPL Corp	PPL US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.684
Molson Coors Brewing Co	TAP US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.449
Sigma-Aldrich Corp	SIAL US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	1.08
Regeneron Pharmaceuticals Inc	REGN US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	2.682
Ameren Corp	AEE US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.369
Teradata Corp	TDC US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.418
Scripps Networks Interactive Inc	SNI US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	0.919
Priceline Group Inc/The	PCLN US	7:00	Q1 2015 Earnings Release	Q1 2015	7.742
L Brands Inc	LB US	7:30	April 2015 Sales and Revenue Call	2015
Priceline Group Inc/The	PCLN US	7:30	Q1 2015 Earnings Call	Q1 2015
Apache Corp	APA US	8:00	Q1 2015 Earnings Release	Q1 2015	-0.595
Becton Dickinson and Co	BDX US	8:00	Q2 2015 Earnings Call	Q2 2015
United Parcel Service Inc	UPS US	8:00	Annual General Meeting
DTE Energy Co	DTE US	8:00	Annual General Meeting	Y 2015
MetLife Inc	MET US	8:00	Q1 2015 Earnings Call	Q1 2015
PPL Corp	PPL US	8:30	Q1 2015 Earnings Call	Q1 2015
Regeneron Pharmaceuticals Inc	REGN US	8:30	Q1 2015 Earnings Call	Q1 2015
E*TRADE Financial Corp	ETFC US	8:30	Annual General Meeting	Y 2015
Teradata Corp	TDC US	8:30	Q1 2015 Earnings Call	Q1 2015
CVS Health Corp	CVS US	9:00	Annual General Meeting	Y 2015
Tesoro Corp	TSO US	9:00	Annual General Meeting	Y 2015
Marathon Oil Corp	MRO US	9:00	Q1 2015 Earnings Call	Q1 2015
CF Industries Holdings Inc	CF US	9:00	Q1 2015 Earnings Call	Q1 2015
Verizon Communications Inc	VZ US	9:30	Annual General Meeting
St Jude Medical Inc	STJ US	9:30	Annual General Meeting
Transocean Ltd	RIG US	9:30	Q1 2015 Earnings Call	Q1 2015
Duke Energy Corp	DUK US	10:00	Annual General Meeting	Y 2015
Ecolab Inc	ECL US	10:00	Annual General Meeting	Y 2015
Kimco Realty Corp	KIM US	10:00	Q1 2015 Earnings Call	Q1 2015
Ameren Corp	AEE US	10:00	Q1 2015 Earnings Call	Q1 2015
Scripps Networks Interactive Inc	SNI US	10:00	Q1 2015 Earnings Call	Q1 2015
Archer-Daniels-Midland Co	ADM US	11:00	Annual General Meeting
Wisconsin Energy Corp	WEC US	11:00	Annual General Meeting
Molson Coors Brewing Co	TAP US	11:00	Q1 2015 Earnings Call	Q1 2015
Prudential Financial Inc	PRU US	11:00	Q1 2015 Earnings Call	Q1 2015
Eastman Chemical Co	EMN US	11:30	Annual General Meeting	Y 2015
Molson Coors Brewing Co	TAP US	13:00	Q1 2015 Earnings Call - Follow-up Session	C1 2015
Essex Property Trust Inc	ESS US	13:00	Q1 2015 Earnings Call	Q1 2015
Apache Corp	APA US	14:00	Q1 2015 Earnings Call	Q1 2015
Danaher Corp	DHR US	15:00	Annual General Meeting	Y 2015
NVIDIA Corp	NVDA US	16:20	Q1 2016 Earnings Release	Q1 2016	0.335
Cerner Corp	CERN US	16:30	Q1 2015 Earnings Call	Q1 2015
CBS Corp	CBS US	16:30	Q1 2015 Earnings Call	Q1 2015
Microchip Technology Inc	MCHP US	16:30	Q4 2015 Earnings Call	C1 2015
CA Inc	CA US	17:00	Q4 2015 Earnings Call	Q4 2015
Monster Beverage Corp	MNST US	17:00	Q1 2015 Earnings Call	Q1 2015
NVIDIA Corp	NVDA US	17:00	Q1 2016 Earnings Call	Q1 2016
CA Inc	CA US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.498
Cerner Corp	CERN US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.449
Mohawk Industries Inc	MHK US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	1.602
Monster Beverage Corp	MNST US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.684
CBS Corp	CBS US	Aft-mkt	Q1 2015 Earnings Release	Q1 2015	0.75
Microchip Technology Inc	MCHP US	Aft-mkt	Q4 2015 Earnings Release	Q4 2015	0.666
Corning Inc	GLW US		Investor Meeting	Y 2015
Dover Corp	DOV US		Annual General Meeting
Kansas City Southern	KSU US		Annual General Meeting
L Brands Inc	LB US		April 2015 Sales and Revenue Release	2015
Tenet Healthcare Corp	THC US		Annual General Meeting
Health Care REIT Inc	HCN US		Annual General Meeting
CH Robinson Worldwide Inc	CHRW US		Annual General Meeting
Reynolds American Inc	RAI US		Annual General Meeting
Assurant Inc	AIZ US		Annual General Meeting
NRG Energy Inc	NRG US		Annual General Meeting
Kinder Morgan Inc/DE	KMI US		Annual General Meeting