BARCHART MORNING CALL 10/21

BARCHART MORNING CALL

Wednesday, October 21st, 2015View Older Reports

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OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ15 +0.46%) are up +0.46% at a 2-month high and European stocks are up +0.65% on positive carryover from a rally in Japan's Nikkei Stock Index which climbed to a 6-week high on speculation the BOJ may need to expand QE after Japan exports last month grew at the slowest pace in over a year. Increased M&A activity also gave equities a boost after Lam Research agreed to buy KLA-Tencor Corp. for $10.6 billion. Strength in European stocks was limited as Credit Suisse fell over 5% after it said will sell 6.05 billion francs ($6.3 billion) in stock to boost capital and meet regulatory requirements. Asian stocks settled mixed: Japan +1.91%, Hong Kong closed for holiday, China -3.06%, Taiwan -0.51%, Australia +0.24%, Singapore +0.22%, South Korea +0.29%, India -0.07%. China's Shanghai Composite fell back from a 2-month high and closed down over 3% on speculation the recent rally was overdone.

The dollar index (DXY00 -0.05%) is down -0.09%. EUR/USD (^EURUSD) is up +0.12%. USD/JPY (^USDJPY) is up +0.13% at a 1-week high as speculation the BOJ may need to expand QE undercut the yen.

Dec T-note prices (ZNZ15 +0.10%) are up +5.5 ticks.

The Japan Sep trade balance was in deficit by -114.5 billion yen, when expectations were for a surplus of +87.0 billion yen. Sep exports rose +0.6% y/y, less than expectations of +3.8 % y/y and the smallest increase in 13 months. Sep imports fell -11.1% y/y, a smaller decline than expectations of -12.0% y/y, but still the biggest drop in 6 months.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index-22.5%), (2) Fed Governor Jerome Powell as moderator for a panel on “Repo Markets, Liquidity, and the U.S. Treasury Market” in an event hosted by the New York Fed.

There are 31 of the S&P 500 companies that report earnings today with notable reports including: GM (consensus $1.19), AMEX (1.31), Abbott Labs (0.53), Boeing (2.20), Coca-Cola (0.50), Northern Trust (0.96), Citrix (0.84), Texas Instruments (0.67), eBay (0.40), Kinder Morgan (0.18), Motorola Solutions (0.73).

U.S. IPO's scheduled to price today: Dimension Therapeutics (DMTX), Multi Packaging Solutions (MPSX).

Equity conferences today include: Private Wealth Latin America and The Caribbean Forum on Wed.

OVERNIGHT U.S. STOCK MOVERS

KLA-Tencor Corp. (KLAC +1.39%) surged 19% in pre-market trading after Lam Research agreed to buy the company for $10.6 billion.

Tupperware Brands (TUP +0.33%) reported Q3 adjusted EPS of 79 cents, better than consensus of 71 cents.

Coca-Cola (KO +0.71%) reported Q3 EPS of 51 cents, above consensus of 50 cents.

Twitter (TWTR unch) was downgraded to 'Underweight' from 'Equalweight' at Morgan Stanley.

Terex (TEX +5.13%) fell almost 5% in after-hours trading after it reported Q3 adjusted EPS of 58 cents, below consensus of 62 cents.

FMC Technologies (FTI +0.62%) reported Q3 adjusted EPS of 61 cents, better than consensus of 58 cents, although Q3 revenue of $1.55 billion was below consensus of $1.67 billion.

IRobot (IRBT +1.66%) fell over 5% in after-hours trading after it reported Q3 EPS of 42 cents, well above consensus of 23 cents, but then lowered guidance on fiscal 2015 sales to $610 million-$615 million from a previous forecast of $625 million-$635 million, below consensus of $628.4 million.

Discover Financial Services (DFS -0.49%) climbed nearly 1% in after-hours trading after it reported Q3 EPS of $1.38, higher than consensus of $1.33.

Chipotle Mexican Grill (CMG -1.81%) dropped over 8% in after-hours trading after it reported Q3 EPS of $4.59, less than consensus of $4.62.

Yahoo! (YHOO -2.00%) slid over 1% in after-hours trading after it reported Q3 adjusted EPS of 15 cents, weaker than consensus of 16 cents.

Rush Enterprises (RUSHA -1.21%) reported Q3 EPS of 48 cents, better than consensus of 47 cents.

Intuitive Surgical (ISRG -1.13%) jumped nearly 8% in after-hours trading after it reported Q3 adjusted EPS of $5.24, well above consensus of $4.22.

Pinnacle Financial (PNFP +2.21%) reported Q4 EPS of 66 cents, higher than consensus of 64 cents.

Packaging of America (PKG -1.20%) reported Q3 EPS of $1.26, below consensus of $1.28.

MARKET COMMENTS

Dec E-mini S&Ps (ESZ15 +0.46%) this morning are up +9.25 points (+0.46%) at a fresh 2-month high. Tuesday's closes: S&P 500 -0.14%, Dow Jones-0.08%, Nasdaq -0.54%. The S&P 500 on Tuesday retreated from a 2-month high and closed lower on the unexpected -5.0% decline in U.S. Sep building permits to a 6-month low of 1.103 million and the reduced chances for an ECB QE expansion after the ECB's Bank Lending Survey said that Q3 credit standards eased for the sixth consecutive quarter. Stocks found support from the +1.14% rally in China's Shanghai Composite to a 1-3/4 month high and the +6.5% increase in U.S. Sep housing starts to 1.206 million, stronger than expectations of +1.4% to 1.142 million.

Dec 10-year T-notes (ZNZ15 +0.10%) this morning are up +5.5 ticks. Tuesday's closes: TYZ5 -13.00, FVZ5 -7.75. Dec T-notes on Tuesday fell to a 1-week low and closed lower on negative carryover from a slide in German bund prices to a 3-week low and on the stronger-than-expected U.S. Sep housing starts report.

The dollar index (DXY00 -0.05%) this morning is down -0.087 (-0.09%). EUR/USD (^EURUSD) is up +0.0014 (+0.12%). USD/JPY (^USDJPY) is up +0.15 (+0.13%) at a 1-week high. Tuesday's closes: Dollar Index -0.015 (-0.02%), EUR/USD +0.0019 (+0.17%), USD/JPY +0.34 (+0.28%). The dollar index on Tuesday closed lower on strength in EUR/USD after ECB Governing Council member Noyer said the ECB's current bond buying pace is "well calibrated," which signals he sees no need to expand QE, and after the ECB's Bank Lending Survey reported that Q3 credit standards on loans to companies eased for the sixth consecutive quarter.

Dec crude oil (CLZ15 -1.27%) this morning is down -58 cents (-1.25%) and Dec gasoline (RBZ15 -0.75%) is down -0.0083 (-0.64%). Tuesday's closes: CLZ5 -0.36 (-0.78%), RBZ5 +0.0132 (+1.04%). Dec crude oil and gasoline on Tuesday settled mixed. Gasoline prices found support from a weaker dollar and expectations that Wednesday's EIA report will show gasoline supplies fell -1.0 million bbl. Crude oil fell on expectations that Wednesday's weekly EIA report will show a +3.5 million bbl increase in crude inventories and a +500,000 bbl increase in Cushing crude oil stockpiles.

GLOBAL EVENT CALENDAR10/21/2015

US	0700 ET	Weekly MBA mortgage applications, previous -27.6% with purchase mortgage sub-index -34.1% and refi sub-index -22.5%.
	1030 ET	EIA Weekly Petroleum Status Report.
	1330 ET	Fed Governor Jerome Powell moderates a panel on Repo Markets, Liquidity, and the U.S. Treasury Market in an event hosted by the New York Fed.
JPN	0030 ET	Japan Aug all-industry activity index expected -0.2% m/m, Jul +0.2% m/m.
UK	0430 ET	UK Sep public sector net borrowing expected +9.6 billion, Aug+11.3 billion pounds.

U.S. STOCK CALENDAR10/21/2015

Company	Ticker	Time	Event Description	Period	Estimate
Seagate Technology PLC	STX US	4:30	Annual General Meeting	Y 2015
Abbott Laboratories	ABT US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.534
Baker Hughes Inc	BHI US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	-0.135
Boeing Co/The	BA US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	2.197
Coca-Cola Co/The	KO US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.502
Interpublic Group of Cos Inc/The	IPG US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.252
Kimberly-Clark Corp	KMB US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	1.493
Thermo Fisher Scientific Inc	TMO US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	1.789
Biogen Inc	BIIB US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	3.766
Northern Trust Corp	NTRS US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.958
Amphenol Corp	APH US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.653
General Motors Co	GM US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	1.188
Nielsen Holdings PLC	NLSN US	Bef-mkt	Q3 2015 Earnings Release	Q3 2015	0.688
EMC Corp/MA	EMC US	7:00	Q3 2015 Earnings Release	Q3 2015	0.43
St Jude Medical Inc	STJ US	7:15	Q3 2015 Earnings Release	Q3 2015	0.97
Illinois Tool Works Inc	ITW US	8:00	Q3 2015 Earnings Release	Q3 2015	1.359
St Jude Medical Inc	STJ US	8:00	Q3 2015 Earnings Call	Q3 2015
Navient Corp	NAVI US	8:00	Q3 2015 Earnings Call	Q3 2015
Nielsen Holdings PLC	NLSN US	8:00	Q3 2015 Earnings Call	Q3 2015
EMC Corp/MA	EMC US	8:30	Q3 2015 Earnings Call	Q3 2015
Interpublic Group of Cos Inc/The	IPG US	8:30	Q3 2015 Earnings Call	Q3 2015
Thermo Fisher Scientific Inc	TMO US	8:30	Q3 2015 Earnings Call	Q3 2015
Biogen Inc	BIIB US	8:30	Q3 2015 Earnings Call	Q3 2015
ACE Ltd	ACE US	8:30	Q3 2015 Earnings Call	Q3 2015
Abbott Laboratories	ABT US	9:00	Q3 2015 Earnings Call	Q3 2015
FMC Technologies Inc	FTI US	9:00	Q3 2015 Earnings Call	Q3 2015
Coca-Cola Co/The	KO US	9:30	Q3 2015 Earnings Call	Q3 2015
Illinois Tool Works Inc	ITW US	10:00	Q3 2015 Earnings Call	Q3 2015
Kimberly-Clark Corp	KMB US	10:00	Q3 2015 Earnings Call	Q3 2015
General Motors Co	GM US	10:00	Q3 2015 Earnings Call	Q3 2015
Boeing Co/The	BA US	10:30	Q3 2015 Earnings Call	Q3 2015
Northern Trust Corp	NTRS US	12:00	Q3 2015 Earnings Call	Q3 2015
Amphenol Corp	APH US	13:00	Q3 2015 Earnings Call	Q3 2015
Citrix Systems Inc	CTXS US	16:05	Q3 2015 Earnings Release	Q3 2015	0.843
Robert Half International Inc	RHI US	16:15	Q3 2015 Earnings Release	Q3 2015	0.731
Texas Instruments Inc	TXN US	16:30	Q3 2015 Earnings Release	Q3 2015	0.674
Kinder Morgan Inc/DE	KMI US	16:30	Q3 2015 Earnings Call	Q3 2015
Citrix Systems Inc	CTXS US	16:45	Q3 2015 Earnings Call	Q3 2015
American Express Co	AXP US	17:00	Q3 2015 Earnings Call	Q3 2015
CA Inc	CA US	17:00	Q2 2016 Earnings Call	Q2 2016
Robert Half International Inc	RHI US	17:00	Q3 2015 Earnings Call	Q3 2015
Lam Research Corp	LRCX US	17:00	Q1 2016 Earnings Call	C3 2016
Tractor Supply Co	TSCO US	17:00	Q3 2015 Earnings Call	Q3 2015
SanDisk Corp	SNDK US	17:00	Q3 2015 Earnings Call	Q3 2015
eBay Inc	EBAY US	17:00	Q3 2015 Earnings Call	Q3 2015
American Express Co	AXP US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	1.311
CA Inc	CA US	Aft-mkt	Q2 2016 Earnings Release	Q2 2016	0.558
Equifax Inc	EFX US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	1.097
Lam Research Corp	LRCX US	Aft-mkt	Q1 2016 Earnings Release	Q1 2016	1.719
Tractor Supply Co	TSCO US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.627
SanDisk Corp	SNDK US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.798
SL Green Realty Corp	SLG US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	1.567
United Rentals Inc	URI US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	2.355
Crown Castle International Corp	CCI US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	1.046
eBay Inc	EBAY US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.401
Ameriprise Financial Inc	AMP US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	2.287
Kinder Morgan Inc/DE	KMI US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.182
Texas Instruments Inc	TXN US	17:30	Q3 2015 Earnings Call	Q3 2015
Motorola Solutions Inc	MSI US		Q3 2015 Earnings Release	Q3 2015	0.725

BARCHART MORNING CALL 12/18

BARCHART MORNING CALL

Thursday, December 18th, 2014View Older Reports

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH15 +1.15%) this morning are up +1.06% and European stocks are up +2.35% as energy producers gained as crude oil rallied and on carry-over support from yesterday's FOMC meeting where the Fed pledged patience on raising interest rates. European stocks also received a boost after German investor confidence rose for a second month to a 4-month high. European government bonds rose after the Swiss National Bank (SNB) introduced negative interest rates for the first time since the 1970s as the Russian financial crisis and the threat of further ECB stimulus pressured the Swiss franc. Asian stocks closed mostly higher: Japan +2.32%, Hong Kong +1.09%, China -0.44%, Taiwan +0.57%, Australia +0.95%, Singapore +0.51%, South Korea +0.04%, India +1.56%. Commodity prices are higher. Jan crude oil (CLF15 +3.22%) is up +2.32% Jan gasoline (RBF15 +3.23%) is up +2.59%. Feb gold (GCG15 +0.95%) is up +1.05%. Mar copper (HGH15 -0.05%) is up +0.35%. Agriculture prices are stronger with Mar corn at a 5-1/2 month high and Mar wheat at a 6-3/4 month high. The dollar index (DXY00 -0.01%) is down -0.10%. EUR/USD (^EURUSD) is down -0.28% at a 1-week low as the action by the SNB to introduce negative interest rates that applies on the same date as the next ECB meeting boosted speculation the ECB will expand stimulus. USD/JPY (^USDJPY) is down -0.02%. Mar T-note prices (ZNH15 -0.21%) are down -7.5 ticks.
The German Dec IFO business climate rose +0.8 to 105.5, right on expectations and the highest in 4 months. The Dec IFO current assessment was unchanged at 110.0, weaker than expectations of +0.4 to 110.4. The Dec IFO expectations rose +1.3 to 101.1, better than expectations of +0.8 to 100.5.
The Swiss National Bank (SNB) imposed a negative interest rate of -0.25% on slight deposit account balances at the SNB that will apply as of Jan 22, The SNB also expanded the target range for the 3-month Libor to -0.75% to 0.25%.
UK Nov retail sales ex autos rose +1.7% m/m, stronger than expectations of +0.3% m/m and the largest increase in 11 months. On an annual basis, Nov retail sales ex autos rose +6.9% y/y, better than expectations of +4.5% y/y. Nov retail sales including autos rose +1.6% m/m and +6.4% y/y, with the +6.4% y/y increase the largest annual gain in 10-1/2 years.
Eurozone Oct construction output rose +1.3% m/m and +1.4% y/y.

U.S. STOCK PREVIEW

Today’s initial unemployment claims report is expected to show a small +1,000 increase to +295,000 and the continuing claims report is expected to show a -79,000 decline to 2.435 million.  Today’s Nov leading indicators report is expected to show another solid increase of +0.5%, adding to the sharp increase of +0.9% seen in October.  Today’s Dec Philadelphia Fed business outlook index is expected to show a sharp -14.8 point decline to 26.0.  There are 7 of the Russell 1000 companies that report earnings today:  Nike (consensus $0.70), Accenture (1.20), Rite Aid (0.05), ConAgra (0.61), Cintas (0.78), Red Hat (0.40), SandRidge Energy (0.04).  There are no equity conferences today.

OVERNIGHT U.S. STOCK MOVERS

Rite Aid (RAD +4.30%) reported Q3 EPS of 10 cents, double consensus of 5 cents, and then raised guidance on fiscal 2015 EPS view to 31 cents-37 cents, better than consensus of 31 cents.
Joy Global (JOY +0.20%) was upgraded to 'Neutral' from 'Underperform' at Longbow.
Starwood (HOT +1.01%) was initiated with a 'Buy' at Evercore ISI with a price target of $87.
Accenture PLC (ACN +2.93%) reported Q1 EPS of $1.29, higher than consensus of $1.20.
Exxon-Mobile (XOM +3.02%) climbed over 2% in pre-market trading as crude oil rose over +$1.00 a barrel.
Navistar (NAV +4.26%) gained over 2% in after-hours trading after activist investor Carl Icahn reported a 19.99% stake in the company.
AK Steel (AKS +6.11%) climbed over 5% in after-hours trading after it said it sees Q4 EPS of 5 cents-10 cents, above consensus of 4 cents.
Discover (DFS +3.31%) was initiated with a 'Buy' at Jefferies with a price target of $75.
Sally Beauty (SBH +2.11%) was initiated with an 'Overweight' at Piper Jaffray with a price target of $37.
Tupperware Brands (TUP -0.02%) was initiated with an 'Overweight' at Piper Jaffray with a price target of $77.
Jabil Circuit (JBL +1.93%) jumped over 4% in after-hours trading after it reported Q1 core EPS of 55 cents, higher than consensus of 48 cents, and then raised guidance on fiscal 2015 core EPS view to $1.85-$2.15, above consensus of $1.79.
Herman Miller (MLHR +3.29%) slid 6% in after-hours trading after it reported Q2 EPS ex-items of 51 cents, below consensus of 52 cents.
Oracle (ORCL +1.30%) rose over 4% in after-hours trading after it reported Q2 EPS of 69 cents, beter than consensus of 68 cents.

MARKET COMMENTS

Mar E-mini S&Ps (ESH15 +1.15%) this morning are up +21.25 points (+1.06%). The S&P 500 index on Wednesday closed sharply higher: S&P 500 +2.04%, Dow Jones +1.69%, Nasdaq +1.85%. Bullish factors included (1) slack inflation pressures after U.S. Nov CPI fell -0.3% m/m, weaker than expectations of -0.1% m/m and the largest monthly decline in nearly 6 years, (2) strength in energy producers after crude oil rallied, and (3) the post-FOMC meeting statement that said the Fed will be “patient” in its approach to raising interest rates.
Mar 10-year T-notes (ZNH15 -0.21%) this morning are down -7.5 ticks. Mar 10-year T-note futures prices on Wednesday closed lower: TYH5 -22.00, FVH5 -15.00. Bearish factors included (1) the post-FOMC statement that said the labor market “improved further” and that “underutilization of labor resources continues to diminish,” which signals policy makers are a step closer to raising interest rates, and (2) reduced safe-haven demand after stocks rallied.
The dollar index (DXY00 -0.01%) this morning is down -0.089 (-0.10%). EUR/USD (^EURUSD) is down -0.0034 (-0.28% at a 1-week low. USD/JPY (^USDJPY) is down -0.02 (-0.02%). The dollar index on Wednesday posted a 1-week high and closed higher. Closes: Dollar index +1.008 (-0.38%), EUR/USD -0.01688 (-1.35%), USD/JPY +2.240 (+1.92%). Bullish factors included (1) the post-FOMC meeting statement that said the labor market “improved further,” which signals the Fed is closer to raising interest rates, and (2) weakness in EUR/USD on signs the ECB may soon expand stimulus after ECB Executive Board member Coeure said “there is a broad consensus on the ECB Governing Council to do more and we are now discussing the instruments to use.”
Jan WTI crude oil (CLF15 +3.22%) this morning is up +$1.31 (+2.32%) a barrel and Jan gasoline (RBF15 +3.23%) is up +0.0406 (+2.59%). Jan crude and Jan gasoline prices Wednesday closed higher. Closes: CLF5 +0.54 (+0.97%), RBF5 +0.0252 (+1.64%). The main bullish factor was fund short covering after prices failed to take out Tuesday’s 5-1/2 year lows. Negative factors included (1) the +5.25 million bbl surge in weekly EIA gasoline inventories to a 9-month high of 222 million bbl, three times more than expectations of +1.75 million bbl, and (2) the +2.92 million bbl increase in crude supplies at Cushing, OK, the delivery point of WTI futures, to an 8-1/2 month high of 27.8 million bbl.

GLOBAL EVENT CALENDAR12/18/2014

US	0830 ET	Weekly initial unemployment claims expected +1,000 to 295,000, previous -3,000 to 294,000. Weekly continuing claims expected -79,000 to 2.435 million, previous +132,000 to 2.514 million.
	0830 ET	USDA weekly Export Sales.
	0945 ET	Preliminary Dec Markit U.S. services PMI expected +0.1 to 56.3, Nov -0.9 to 56.2.
	1000 ET	Nov leading indicators expected +0.5%, Oct +0.9%.
	1000 ET	Dec Philadelphia Fed business outlook expected -14.8 to 26.0, Nov +20.1 to 40.8.
	1100 ET	Treasury announces amount of 2-year T-notes (previous $28 billion), 2-year floating rate notes (previous $13 billion), 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Dec 22-26.
	1300 ET	Treasury auctions $16 billion of 5-year TIPS.
GER	0400 ET	German Dec IFO business climate expected +0.8 to 105.5, Nov 104.7. Dec IFO current assessment expected +0.4 to 110.4, Nov 110.0. Dec IFO expectations expected +0.8 to 100.5, Nov 99.7.
UK	0430 ET	UK Nov retail sales ex autos expected +0.3% m/m and +4.5% y/y, Oct +0.8% m/m and +4.6% y/y.
	0430 ET	UK Nov retail sales including autos expected +0.4% m/m and +4.4% y/y, Oct +0.8% m/m and +4.3% y/y.
	1905 ET	UK Dec GfK consumer confidence expected +1 to -1, Nov -2.
EUR	0500 ET	Eurozone Oct construction output, Sep -1.8% m/m and -1.7% y/y.
JPN	2330 ET	Japan Oct all-industry activity index expected unch m/m, Sep +1.0% m/m.

U.S. STOCK CALENDAR12/18/2014

Company	Ticker	Time	Event Description	Period	Estimate
Accenture PLC	ACN US	Bef-mkt	Q1 2015 Earnings Release	Q1 2015	1.199
Rite Aid Corp	RAD US	7:00	Q3 2015 Earnings Release	Q3 2015	0.054
ConAgra Foods Inc	CAG US	7:30	Q2 2015 Earnings Release	Q2 2015	0.609
Accenture PLC	ACN US	8:00	Q1 2015 Earnings Call	Q1 2015
Rite Aid Corp	RAD US	8:30	Q3 2015 Earnings Call	Q3 2015
AutoZone Inc	AZO US	9:00	Annual General Meeting
AutoZone Inc	AZO US	9:00	Annual General Meeting	Y 2014
Progressive Corp/The	PGR US	9:00	Acquisition of Controlling Interest in American Strategic Insurance by Progress
ConAgra Foods Inc	CAG US	9:30	Q2 2015 Earnings Call	Q2 2015
Coca-Cola Enterprises Inc	CCE US	10:00	Q4 2015 Guidance Call	Q4 2015
NIKE Inc	NKE US	16:15	Q2 2015 Earnings Release	Q2 2015	0.701
NIKE Inc	NKE US	17:00	Q2 2015 Earnings Call	Q2 2015
Cintas Corp	CTAS US	17:00	Q2 2015 Earnings Call	Q2 2015
Red Hat Inc	RHT US	17:00	Q3 2015 Earnings Call	Q3 2015
Cintas Corp	CTAS US	Aft-mkt	Q2 2015 Earnings Release	Q2 2015	0.776
Red Hat Inc	RHT US	Aft-mkt	Q3 2015 Earnings Release	Q3 2015	0.399
SandRidge Energy Inc	SD US		Q3 2014 Earnings Release	Q3 2014	0.038
Madison Square Garden Co/The	MSG US		Annual General Meeting
Zillow Inc	Z US		Special Meeting - M&A Vote

Barchart Morning Call 8/21

Barchart Morning Call

BC - Wed Aug 21, 6:44AM CDT

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OVERNIGHT MARKETS AND NEWS

September E-mini S&Ps (ESU13 -0.23%) this morning are down -0.32% and European stocks are down -0.40% ahead of the release of the minutes of the July 30-31 FOMC meeting. Asian stocks closed mixed: Japan +0.21%, Hong Kong -0.69%, China -0.17%, Taiwan closed because of the approach of Tropical Storm Trami, Australia +0.43%, Singapore -0.63%, South Korea -1.08%, India -1.86%. India's central bank said it will start buying government debt to pump funds into markets in an attempt to lower the surge in bond yields that threatens India's economy. Commodity prices are mostly lower. Oct crude oil (CLV13 -0.40%) is down -0.07% at a 1-week low and Oct gasoline (RBV13 +0.04%) is down -0.05%. Dec gold (GCZ13 -0.43%) is down -0.55%, and Sep copper (HGU13 -0.78%) is down -0.85%. Agricultural and livestock prices are mixed. The dollar index (DXY00 +0.20%) is up +0.27%. EUR/USD (^EURUSD) is down -0.18% and USD/JPY (^USDJPY) is up +0.16%. September T-note prices (ZNU13 -0.04%) are down -1.5 ticks.
UK Aug CBI volume of total factory orders rose to 0 from -12 in July, better than expectations of -8 and its highest level in 2 years. Aug CBI average selling prices unexpectedly fell to 0 from 2 in July, weaker than expectations of an increase to 3 and its lowest level in a year.
UK July public sector net borrowing fell -1.6 billion pounds, the first decline in 6-months, but less than expectations of -5.0 billion pounds.
In an attempt to pump funds into the markets and rein in a surge in bond yields and slow the slide in the rupee, the Reserve Bank of India (RBI) said it will buy 80 billion rupees ($1.2 billion) of government bonds through open-market operations on Aug 23 and "thereafter calibrate them both in terms of quantum and frequency" based on market conditions. The RBI also said that sales of cash-management bills will be calibrated going forward, "including scaling it down as may be necessary." The rupee weakened to a record low of 64.465 per dollar today and the yield on India's 10-year bond rose to a 12-year high of 9.48% yesterday as capital outflows intensified. Global funds have cut holdings of Indian debt by $10 billion since May 22 when Fed Chairman Bernanke first mentioned the prospects of tapering Fed stimulus.

U.S. STOCK PREVIEW

Today’s July existing home sales report is expected to show an increase of +1.4% to what would be a new 3-1/2 year high of 5.15 million, more than reversing June’s -1.2% decline and taking out June’s current 3-1/2 year high of 5.14 million.  The markets will assess today’s minutes from the July 30-31 FOMC meeting for any clues as to whether the Fed will start tapering QE3 as soon as the next FOMC meeting on Sep 17-18.  There are 7 of the S&P 500 companies that report earnings today: Target (consensus $0.95), Staples (0.18), PetSmart (0.86), Lowe's (0.79), Limited Brands (0.03), JM Smucker ($1.20), Hewlett-Packard (0.86).  Equity conferences during the remainder of this week include CRM Evolution Conference & Exhibition 2013 on Tue-Wed, Morgan Stanley Semiconductor & Semi-Cap Equipment Corporate Access Day on Wed, Citi One on One Midstream/Infrastructure Conference on Wed, and Raymond James Bank Conference on Thu.

OVERNIGHT U.S. STOCK MOVERS

Tupperware Brands (TUP +0.20%) was downgraded to "Market Perform" from "Outperform" at BMO Capital.
Target (TGT -0.42%) reported Q2 adjusted EPS of $1.19, well ahead of consensus of 96 cents.
Staples (SPLS +2.62%) reported Q2 EPS of 16 cents, lower than consensus of 18 cents, and then lowered guidance on fiscal 2013 EPS to $1.21-$1.25 from $1.30-$1.35, weaker than consensus of $1.32.
JM Smucker (SJM +0.04%) reported Q1 EPS of $1.24, stronger than consensus of $1.20.
Bloomberg repoted that PG&E (PCG +0.85%) CEO Tony Earley said that the company may be pushed to the brink of bankruptcy if California state regulators impose a proposed $2.25 billion penalty against the company related to a 2010 pipeline explosion.
Textron (TXT -0.18%) has been awarded a $640.79 million U.S. government firm-fixed-price contract for 1,300 cluster bomb units for foreign military sales to Saudi Arabia.
The WSJ reports that German Finance Minister Wolfgang Schäuble says that Greece will need a third bailout.
Lowe's (LOW +0.94%) reported Q2 EPS of 88 cents, better than consensus of 79 cents, and also announced that CEO Mark Baker will resign.
La-Z-Boy (LZB +3.96%) rose over 1% in pre-market trading after it reported Q1 EPS of 18 cents, better than consensus of 15 cents.
Analog Devices (ADI +0.15%) reported Q3 EPS of 57 cents, better than consensus of 54 cents.
Intuit (INTU -0.44%) reported Q4 adjusted EPS of 0 cents, right on expectations, although Q4 revenue of $634 million was better than consensus of $622.95 million.
The Financial Times reported that Goldman Sachs (GS +0.59%) could face up to $100 million in losses after making erroneous trades across multiple options exchanges on Tuesday.

MARKET COMMENTS

Sep E-mini S&Ps (ESU13 -0.23%) this morning are down -5.25 points (-0.32%). The S&P 500 index on Tuesday rebounded from a 6-week low and closed mostly higher after better-than-expected quarterly earnings results from Best Buy, TJX and Urban Outfitters lifted retail stocks. Gains in stocks were limited ahead of Wednesday's release of the minutes of the July 30-31 FOMC meeting, which may shed some clarity on to when and how much the Fed may taper QE3. Closes: S&P 500 +0.38%, Dow Jones -0.05%, Nasdaq 100 +0.40%.
Sep 10-year T-notes (ZNU13 -0.04%) this morning are down -1.5 ticks. Sep 10-year T-note prices on Tuesday rebounded from Monday's 6-week low and closed higher. Short-covering and increased safe-haven demand for Treasuries boosted T-notes on concern that a Fed cut in stimulus may exacerbate capital outflows from emerging Asian markets that are already reeling after India's rupee fell to a record low and Indonesia's rupiah tumbled to a 4-year low against the dollar. Closes: TYU3 +18.0, FVU3 +9.25.
The dollar index (DXY00 +0.20%) this morning is up +0.215 (+0.27%). EUR/USD (^EURUSD) is down -0.0024 (-0.18%) and USD/JPY (^USDJPY) is up +0.16 (+0.16%). The dollar index on Tuesday slid to a 2-month low and closed lower. EUR/USD surged to a 6-1/4 month high as European investors repatriated funds from Asian markets back into euros as emerging market assets have slumped after India's rupee fell to a record low and Indonesia's rupiah tumbled to a 4-year low against the dollar. Closes: Dollar index -0.320 (-0.39%), EUR/USD +0.00827 (+0.62%), USD/JPY -0.297 (-0.30%).
Oct WTI crude oil (CLV13 -0.40%) this morning is down -7 cents (-0.07%) and Oct gasoline (RBV13 +0.04%) is down -0.0013 (-0.05%). Oct crude oil and gasoline prices on Tuesday closed mixed. Crude prices were undercut on concern a cut in Fed stimulus will reduce economic growth and demand for crude. Limiting declines were (1) the slide in the dollar index to a 2-month low and (2) expectations for weekly EIA gasoline stockpiles on Wednesday to drop -1.25 million bbl and for crude inventories to fall -1.25 million bbl to an 11-month low. Closes: CLV3 -1.75 (-1.64%), RBV3 +0.0145 (+0.51%).

GLOBAL EVENT CALENDAR08/21/2013

US	0700 ET	Weekly MBA mortgage applications, previous -4.7% with purchase sub-index -5.4% and refi sub-index -4.4%.
		1000 ET	July existing home sales expected +1.4% to 5.15 million, Jun -1.2% to 5.08 million.
		1030 ET	EIA Weekly Petroleum Status Report.
		1400 ET	Minutes of the July 30-31 FOMC meeting.
UK	0430 ET	UK July public sector net borrowing expected -5.0 billion pounds, Jun +10.2 billion pounds.
		0600 ET	UK Aug CBI trends total orders expected -8, July -12. Aug CBI trends selling prices expected 3, July 2.
CHI	2145 ET	China HSBC Aug flash manufacturing PMI expected +0.5 to 48.2, July 47.7.

U.S. STOCK CALENDAR08/21/2013

Company Name	Company Ticker	Time	Event Description	Period	Estimate
Target Corp	TGT US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.953
Staples Inc	SPLS US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.181
PetSmart Inc	PETM US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	0.857
Lowe's Cos Inc	LOW US	6:00	Q2 2014 Earnings Release	Q2 2014	0.793
Staples Inc	SPLS US	8:00	Q2 2014 Earnings Call	Q2 2014
JM Smucker Co/The	SJM US	8:30	Q1 2014 Earnings Call	Q1 2014
Lowe's Cos Inc	LOW US	9:00	Q2 2014 Earnings Call	Q2 2014
Yum! Brands Inc	YUM US	10:00	Investor & Analyst Meeting - Yum! Restaurants International (YRI)	Y 2012
PetSmart Inc	PETM US	10:00	Q2 2014 Earnings Call	Q2 2014
Target Corp	TGT US	10:30	Q2 2014 Earnings Call	Q2 2014
Life Technologies Corp	LIFE US	11:00	Extraordinary Shareholders Meeting - M&A Vote	Y 2013
Hewlett-Packard Co	HPQ US	17:00	Q3 2013 Earnings Call	Q3 2013
L Brands Inc	LTD US	Aft-mkt	Q2 2014 Earnings Release	Q2 2014	0.595
JM Smucker Co/The	SJM US		Q1 2014 Earnings Release	Q1 2014	1.195
Hewlett-Packard Co	HPQ US		Q3 2013 Earnings Release	Q3 2013	0.864

3 Interesting Mid-Caps

Today I used Barchat to sort the S & P 400 Mid Cap Index stocks to find 5 with great Barchart technical indicators and charts.  Today's list includes Waste Connections (WVN), ValueClick (VCLK), URS Corp (URS), Tupperware (TUP) and Temper-Pedic International (TPX):

Waste Connections (WCN)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signals
• Above its 20, 50 and 100 day moving averages
• 9 new highs and up 6.93% in the last month
• Relative Strength Index 74.48%
• Barchart computes a technical support level at 34.66
• Recently traded at 35.48 with a 50 day moving average of 33.33

ValueClick (VCLK)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 9.95% in the last month
• Relative Strength Index 72.91%
• Barchart computes a technical support level at 20.56
• Recently traded at 20.89 with a 50 day moving average of 19.35

URS Corp (URS)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 8 new highs and up 8.42% in the last month
• Relative Strength Index 67.90%
• Barchart computes a technical support level at 41.36
• Recently traded at 41.97 with a 50 day moving average of 38.79

Tupperware (TUP)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signals
• Above its 20, 50 and 100 day moving averages
• 10 new highs and up 12.22% in the last month
• Relative Strength Index 80.41%
• Barchart computes a technical support level at 68.94
• Recently traded at 70.33 with a 50 day moving average of 65.09

Temper-Pedic International (TPX)

Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 32.33% in the last month
• Relative Strength Index 79.12%
• Barchart computes a technical support level at 38.12
• Recently traded at 40.15 with a 50 day moving average of 30.34

5 Mid Cap Picks

Today I screened the S&P 400 Mid Cap Index to find the 5 with the best Barchart technical indicators and charts.  Near the top of the list were Post Holdings (POST), Office Depot (ODP), Covance (CVD), Tupperware (TUP) and Trimble Navigation (TRMB):

Post Holdings (POST)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 12.86% in the last month
• Relative Strength Index 71.06%
• Barchart computes a technical support level at 33.55
• Recently traded at 34.73 with a 50 day moving average of 31.22

Office Depot (ODP)

Barchart technical indicators:

• 88% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 7 new highs and up 22.46% in the last month
• Relative Strength Index 62.61%
• Barchart computes a technical support level at 2.75
• Recently traded at 2.91 with a 50 day moving average of 2.47

Covance (CVD)

Barchart technical indicators:

• 96% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving average
• 6 new highs and up 9.16% in the last month
• Relative Strength Index 64.82%
• Barchart computes a technical support level at 53.30
• Recently traded at 53.89 with a 50 day moving average of 49.33

Tupperware (TUP)

Barchart technical indicators:

• 88% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 4 new highs and up 12.45% in the last month
• Relative Strength Index 62.27%
• Barchart computes a technical support level at 60.68
• Recently traded at 62.24 with a 50 day moving average of 56.95

Trimble Navigation (TRMB)

Barchart technical indicators:

• 80% Barchart technical buy signal
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 6 new highs and up 10.88% in the last month
• Relative Strength Index 61.43%
• Barchart computes  a technical support level at 51.75
• Recently traded at 52.55 with a 50 day moving average of 49.43

MORE STOCK PICKS

Tupperware - Barchartr Chart of the Day

Barchart.coms Chart of the Day - Tupperware (TUP)

Barchart Research Team - Barchart.com - Sat Mar 12, 10:14PM CST

Related Stocks

 TUP - Tupperware Corp.

Sym	Last	Chg	Pct
TUP	58.61	+1.73	+3.04%

The "Chart of the Day" is Tupperware (TUP), which showed up on Friday's Barchart "NYSE 12-month High" list and also on the Barchart "All Time High" list. Tupperware on Friday rallied by 3.04% and posted a new all-time high of $58.79. TrendSpotter has been Long on Tupperware since Feb 2 at $53.22. In recent news on the stock, SunTrust initiated coverage on Tupperware with a Buy and a target of $65. Tupperware on Feb 1 reported Q4 EPS OF $1.38 versus the consensus of $1.28, provided management EPS guidance for 2011 of $4.23-4.33 versus the consensus of $4.16, said the company is seeing strong growth in emerging markets, and raised its stock buyback authorization to $600 million from $350 million. Tupperware, with a market cap of $3.5 billion, is a global direct seller of products that include preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through its Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics, Nuvo and Swissgarde brands.


How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "New Highs/Lows" page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. We then clicked on the "12-Month # Highs" column heading twice in order to sort the list in ascending order. Stocks with the fewest number of 12-month highs over the past 12 months are stocks that have only recently broken out to a new 12-month high and may have better upside potential then stocks that have already rallied sharply and have posted many new 12-month highs.
Barchart's Opinion trading systems are all a Buy and Barchart's daily TrendSpotter trading system is a "Buy." 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.

• TrendSpotter: Buy
• Short-Term Indicators: 100% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 100% Buy

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