Showing posts with label WFM. Show all posts
Showing posts with label WFM. Show all posts

Wednesday, June 1, 2016

MORNING CALL 6/1

MORNING CALL
OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 -0.38%) are down -0.31% and European stocks are down -0.89% on signs of lackluster global manufacturing activity. The German May Markit/BME manufacturing PMI was revised lower, Japan's May Nikkei PMI contracted at the steepest pace in over 3 years, and China's May manufacturing PMI remained basically flat. A -1.22% slide in July WTI crude oil (CLN16 -1.20%) to a 1-week low undercut energy producers, and U.S. stocks were under pressure after the OECD revised its U.S. 2016 GDP forecast downward. Asian stocks settled mostly lower: Japan -1.62%, Hong Kong -0.26%, China -0.11%, Taiwan +0.72%, Australia -1.03%, Singapore -0.02%, South Korea -0.02%, India +0.17%.
The dollar index (DXY00 -0.38%) is down -0.34% after the OECD cut its U.S. 2016 GDP forecast and EUR/USD (^EURUSD) is up +0.26% after the OECD raised its Eurozone 2016 GDP forecast to 1.6% from a Feb estimate of 1.4%. USD/JPY (^USDJPY) is down -1.11%.
Sep T-note prices (ZNU16 +0.06%) are up +1 tick.
The OECD cut its U.S. 2016 GDP estimate to 1.8% from a Feb projection of 2.0% and raised its Eurozone 2016 GDP forecast to 1.6% from a Feb estimate of 1.4%. The OECD kept its global 2016 GDP estimate unchanged at 3.0%, but warned that the global economy is slipping into a self-fulfilling "low-growth trap" where ultra-loose monetary policy risks doing more harm than good.
The China May manufacturing PMI was unchanged at 50.1, stronger than expectations of -0.1 to 50.0.
The German May Markit/BME manufacturing PMI was revised downward to 52.1 from the originally reported 52.4.
The Japan May Nikkei manufacturing PMI was revised upward to 47.7 from the originally reported 47.6, still the steepest pace of contraction since the data series began in 2013.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous +2.3% with purchase sub-index +4.8% and refi sub-index +0.4%), (2) revised-May Markit U.S. manufacturing PMI (expected unrevised at 50.5, preliminary-May -0.3 to 50.5), (3) May ISM manufacturing index (expected -0.5to 50.3, Apr -1.0 to 50.8), (4) Apr construction spending (expected +0.6%, Mar +0.3%), (5) Fed Beige Book, (6) May total vehicle sales (expected 17.30 million, Apr 17.32 million).
There are 2 of the Russell 1000 companies that report earnings today: Michael Kors Holdings (consensus $0.97), Alere (0.58).
U.S. IPO's scheduled to price today: Nant Health LLC (NH).
Equity conferences during the remainder of this week include: Deutsche Bank Global Financial Services Investor Conference on Tue-Wed, BMO Capital Markets Energy & Power Conference on Wed, D. A. Davidson & Co Technology Forum on Wed, Stifel Dental & Veterinary Conference on Wed, Bank of America Merrill Lynch Global Technology Conference on Wed-Thu, Cowen and Company Technology, Media & Telecom Conference on Wed-Thu, RBC Capital Markets Consumer & Retail Conference on Wed-Thu, Bernstein Strategic Decisions Conference on Wed-Fri, Credit Suisse Engineering & Construction Conference on Thu, Keefe, Bruyette & Woods Asset Management Conference on Thu, American Society of Clinical Oncology (ASCO) Meeting on Fri.
OVERNIGHT U.S. STOCK MOVERS
Nike (NKE -1.73%) fell 2% in pre-market trading after it was downgraded to 'Neutral' from 'Buy' at Bank of America/Merrill Lynch.
Whole Foods Markets (WFM +1.00%) jumped over 2% in pre-market trading after it was upgraded to 'Outperform' from 'Neutral' at Credit Suisse.
Zoetis (ZTS +0.51%) was rated a new 'Buy' at Stifel with a 12-month price target of $58.
InterXion Holding NV (INXN +0.86%) rose nearly 1% in after-hours trading after it was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities.
Alibaba Group Holding Ltd. (BABA +1.27%) fell over 2% in pre-market trading after Softbank Group, the largest investor in Alibaba, said it will sell at least $7.9 billion of its Alibaba stake.
Under Armour (UA -0.50%) lost more than 3% in after-hours trading after it cut its full-year net revenue estimate to $4.925 billion from a prior view of $5 billion.
Quanex Building Products (NX +2.47%) reported Q2 adjusted EPS of 10 cents, better than consensus of 9 cents, and boosted its full-year Ebitda estimate to $117 million-$121 million from a December 14 estimate of $112 million-$120 million.
Ascena Retail (ASNA +1.12%) dropped nearly 6% in after-hours trading after it lowered guidance on full-year EPS to 67 cents-70 cents from a prior view of 75 cents-80 cents.
Zoe's Kitchen (ZOES +2.47%) climbed over 3% in after-hours trading after it reported Q1 adjusted EPS of 6 cents, better than consensus of 4 cents, and then raised its full-year revenue estimate to $277 million-$281 million from a prior estimate of $275 million-$289 million.
NCI Building Systems (NCS +2.48%) reported Q2 sales of $372.2 million, higher than consensus of $363.5 million.
Boyd Gaming (BYD +0.48%) rose more than 4% in after-hours trading after MGM Resorts International acquired Boyd's 50% stake in Atlantic City's Borgata hotel and casino for $900 million.
TiVo (TIVO -0.70%) slipped 3% in after-hours trading after it reported Q1 EPS of 4 cents, weaker than consensus of 8 cents.

MARKET COMMENTS
June E-mini S&Ps (ESM16 -0.38%) this morning are down -6.50 points (-0.31%). Tuesday's closes: S&P 500 -0.10%, Dow Jones -0.48%, Nasdaq +0.25%. The S&P 500 on Tuesday fell back from a 1-1/4 month high and closed lower on the unexpected -2.1 point decline in U.S. May consumer confidence (Conference Board) to 92.6 (weaker than expectations of +1.9 to 96.1 and a 6-month low) and the unexpected -1.1 point decline in the May Chicago PMI (weaker than expectations of +0.1 to 50.5). Stocks were boosted by the +1.0% m/m increase in U.S. Apr personal spending, stronger than expectations of +0.7% m/m and the largest increase in 6-1/2 years.
September 10-year T-note prices (ZNU16 +0.06%) this morning are up +1 tick. Tuesday's closes: TYU6 -0.50, FVU6 -0.25. Sep T-notes on Tuesday fell to a 1-month low but recovered and closed little changed. T-notes were undercut by negative carry-over from Friday's comments by Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." T-notes were also undercut by the sharp +1.0% increase in U.S. Apr personal spending. T-notes found support on the decline in the U.S. May consumer confidence index to a 6-month low and by the weak May Chicago PMI.
The dollar index (DXY00 -0.38%) this morning is down -0.327 (-0.34%). EUR/USD (^EURUSD) is up +0.0029 (+0.26%). USD/JPY (^USDJPY) is down-1.23 (-1.11%). Tuesday's closes: Dollar Index +0.370 (+0.97%), EUR/USD -0.0006 (-0.05%), USD/JPY -0.39 (-0.35%). The dollar index on Tuesday closed higher on carryover support from Friday's hawkish comments Friday by Fed Chair Yellen who said a Fed rate hike in coming months may be "appropriate." The dollar was also boosted by the stronger-than-expected U.S. Apr personal spending of +1.0%, which rose at the fastest pace in 6-1/2 years and bolstered the case for a Fed rate hike.
July WTI crude oil (CLN16 -1.20%) this morning is down -60 cents (-1.22%) at a 1-week low. July gasoline (RBN16 -0.60%) is down -0.0117 (-0.73%) at a 2-week low. Tuesday's closes: CLN6 -0.23 (-0.47%), RBN6 -0.0244 (-1.49%). July crude oil and gasoline on Tuesday closed lower on the stronger dollar and on expectations that OPEC members will be unable to agree on production cuts when the cartel meets on Thursday in Vienna.
GLOBAL EVENT CALENDAR06/01/2016
US0700 ETWeekly MBA mortgage applications, previous +2.3% with purchase sub-index +4.8% and refi sub-index +0.4%.
0945 ETRevised-May Markit U.S. manufacturing PMI expected unchanged at 50.5, preliminary-May -0.3 to 50.5.
1000 ETMay ISM manufacturing index expected -0.5 to 50.3, Apr -1.0 to 50.8. May ISM new orders, Apr -2.5 to 55.8. May ISM employment, Apr +0.9 to 49.2. May ISM prices paid expected -1.0 to 58.0, Apr +7.5 to 59.0.
1000 ETApr construction spending expected +0.6%, Mar +0.3%.
1400 ETFed Beige Book.
n/aMay total vehicle sales expected 17.30 million, Apr 17.32 million. May domestic vehicle sales expected 13.58 million, Apr 13.48 million.
JPN0100 ETJapan May vehicle sales, Apr +7,2% y/y.
GER0355 ETRevised German May Markit/BME manufacturing PMI, preliminary +0.6 to 52.4.
EUR0400 ETRevised Eurozone May Market manufacturing PMI, preliminary -0.2 to 51.5.
UK0200 ETUK My nationwide house prices expected +0.3% m/m and +4.8% y/y, Apr +0.2% m/m and +4.9% y/y.
0430 ETUK Apr net consumer credit expected +1.6 billion pounds, Mar +1.9 billion pounds.
0430 ETUK Apr mortgage approvals expected 67,900, Mar 71,400.
0430 ETUK Apr M4 money supply, Mar -0.4% m/m and +1.6% y/y.
0430 ETUK May Markit manufacturing PMI expected +0.4 to 49.6, Apr 49.2.
U.S. STOCK CALENDAR06/01/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Michael Kors Holdings LtdKORS USBef-mktQ4 2016 Earnings ReleaseQ4 20160.965
Michael Kors Holdings LtdKORS US8:00Q4 2016 Earnings CallQ4 2016
Alkermes PLCALKS US8:30ALKS 5461 FORWARD-3 & FORWARD-4 Data Study Results Call
Ford Motor CoF US9:15May 2016 Sales and Revenue Release2016
Ford Motor CoF US10:00May 2016 Sales and Revenue Call2016
IPG Photonics CorpIPGP US10:00Annual General Meeting
Gaming and Leisure Properties IncGLPI US10:00Annual General Meeting
Workday IncWDAY US12:00Annual General MeetingY 2016
Pandora Media IncP US12:00Annual General Meeting
Costco Wholesale CorpCOST US21:00May 2016 Sales and Revenue Release2016
Equifax IncEFX USInvestor Meeting - San FranciscoY 2016
MGM Resorts InternationalMGM USAnnual General Meeting
Taubman Centers IncTCO USAnnual General Meeting
American Tower CorpAMT USAnnual General Meeting
Alere IncALR USQ4 2015 Earnings ReleaseQ4 20150.583
Equinix IncEQIX USAnnual General Meeting
Ulta Salon Cosmetics & Fragrance IncULTA USAnnual General Meeting
Michaels Cos Inc/TheMIK USAnnual General Meeting
Rice Energy IncRICE USAnnual General Meeting
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Wednesday, March 9, 2016

MORNING CALL 3/9

MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +0.56%) are up +0.49% and European stocks are up +1.35% on speculation that the ECB on Thursday will deliver a package of easing measures to spur economic growth. Energy and raw-material producing stocks are higher as the price of crude oil and copper rose. Crude oil had initially moved lower after the API late yesterday reported a +4.4 million bbl increase in U.S. crude inventories. However, crude recovered losses and is up +1.53% on the outlook for lower future U.S. crude production after the EIA cut its U.S. 2017 crude output forecast. Asian stocks settled mixed: Japan -0.84%, Hong Kong -0.08%, China -1.34%, Taiwan -0.35%, Australia +0.96%, Singapore +1.14%, South Korea +0.29%, India +0.55%.
The dollar index (DXY00 +0.16%) is up +0.17%. EUR/USD (^EURUSD) is down -0.33%. USD/JPY (^USDJPY) is down -010% at a 1-week low.
Jun T-note prices (ZNM16 -0.27%) are down -11.5 ticks.
The Energy Information Administration (EIA) in its monthly Short-Term Energy Outlook projected that U.S. 2017 crude production will fall -5.5% y/y to 8.19 million bpd, less than the 8.46 million bpd previously forecast and a 4-year low.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -4.8% with purchase sub-index -0.6% and refi sub-index -7.2%), (2) Jan wholesale inventories (expected -0.2%, Dec -0.1% m/m) and Jan wholesale trade sales (expected -0.3% m/m, Dec -0.3% m/m), (3) the Treasury's auction of $20 billion of 10-year T-notes, (4) EIA Weekly Petroleum Status Report, and (5) USDA Mar WASDE crop production.
There are 2 of the Russell 1000 companies that report earnings today: Tahoe Resources (consensus $0.12), Square Inc (-0.14).
U.S. IPO's scheduled to price today: KLR Acquisition Group (KLREU)
Equity conferences this week include: Raymond James Institutional Investors Conference on Mon-Wed, J.P. Morgan Aviation, Transportation & Industrials Conference on Tue-Wed, Piper Jaffray Technology Symposium on Tue-Wed, RBC Capital Markets Financial Institutions Conference on Tue-Wed, UBS Global Consumer Conference on Wed-Thu, JPMorgan Chase & Co., Inc Aviation, Transportation and Industrials Conference on Tue-Thu, J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on Thu.


OVERNIGHT U.S. STOCK MOVERS
CBS Corp. (CBS -1.58%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo Securities.
Yelp (YELP -4.74%) and Groupon (GRPN -3.78%) were both downgraded to 'Sell' from 'Neutral' at UBS.
United Continental Holdings (UAL -2.20%) reported February traffic was up +2.7% and available seat miles were up +6%, but still sees Q1 passenger unit revenue down 6%-8% y/y due to a stronger dollar, lower surcharges, and softening domestic and international yields.
Ross Stores (ROST -0.26%) were downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
Chipotle Mexican Grill (CMG -1.69%) fell nearly 4% in after-hours trading after it said it closed a store in Billerica, Massachusetts for cleaning after 4 workers at the store "were not feeling well."
Aerovironment (AVAV -0.30%) climbed over 7% in after-hours trading after it raised guidance on yearly gross profit margin to between 38%-39.5%, up from a December forecast of 37%-37.5%.
Blue Buffalo Pet Products (BUFF -4.72%) surged over 10% in after-hours trading after it reported Q4 adjusted EPS of 16 cents, higher than consensus of 14 cents, and then raised guidance on fiscal 2016 adjusted EPS to 72 cents-74 cents, higher than consensus of 70 cents.
NCI Building Systems (NCS -3.45%) rose over 3% in after-hours trading after it reported Q1 adjusted EPS of 7 cents, well above consensus of 2 cents, as Q1 sales rose to $370 million, above consensus of $363.8 million.
Amplify Snack Brands (BETR -1.60%) jumped over 9% in after-hours trading after it reported Q4 adjusted EPS of 13 cents, higher than consensus of 9 cents and then raised guidance on 2016 adjusted EPS to 61 cents-64 cents, above consensus of 57 cents.
Zagg Inc. (ZAGG -1.42%) slumped over 10% in after-hours trading after it reported Q4 GAAP EPS of 18 cents, weaker than consensus of 24 cents.
Cerus Corp. (CERS -5.51%) slid over 5% in after-hours trading after it said it sees 2016 global revenue of $37 million-$40 million, below consensus of $44.5 million.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +0.56%) this morning are up +9.75 points (+0.49%). Tuesday's closes: S&P 500 -1.12%, Dow Jones -0.64%, Nasdaq -0.88%. The S&P 500 on Tuesday closed lower on concern that a slowdown in China will undercut global economic growth after China Feb exports fell -25.4%y/y, weaker than expectations of -14.5% y/y and the largest decline in 6-3/4 years. In addition, energy and commodity producers showed weakness after the price of crude oil and copper fell.
Jun 10-year T-notes (ZNM16 -0.27%) this morning are down -11.5 ticks. Tuesday's closes: TYM6 +18.50, FVM6 +11.25. Jun T-notes on Tuesday closed higher on increased safe-haven demand with the sell-off in stocks. T-notes also received a boost from Japanese government bonds where the 10-year JGB bond yield fell to a record low of -0.10%.
The dollar index (DXY00 +0.16%) this morning is up +0.163 (+0.17%). EUR/USD (^EURUSD) is down -0.0036 (-0.33%). USD/JPY (^USDJPY) is down-0.11 (-0.10%) at a 1-week low. Tuesday's closes: Dollar Index +0.138 (+0.14%), EUR/USD -0.0003 (-0.03%), USD/JPY -0.84 (-0.74%). The dollar index on Tuesday recovered from a 2-week low and closed higher on weakness in EUR/USD on the outlook for the ECB to expand stimulus when it meets on Thursday. The dollar also received a boost from weakness in GBP/USD after BOE official Weale said that if the outlook for inflation worsens, "the scope for further asset purchases is substantial."
Apr WTI crude (CLJ16 +1.78%) this morning is up +56 cents (+1.53%) and Apr gasoline (RBJ16 +2.02%) is up +0.0318 (+2.29%). Tuesday's closes: CLJ6 -1.40 (-3.69%), RBJ6 -0.0049 (-0.35%). Apr crude and gasoline on Tuesday closed lower on concern that a slowdown in China's economy will lead to slower global growth and energy demand after China Feb exports fell by the most in 6-3/4 years. Crude oil prices were also undercut by expectations that Wednesday's EIA data will show U.S crude supplies rose +3.5 million bbl. Crude oil prices found some underlying support on news that Chinese Feb crude oil imports rose +19% m/m to 31.8 MMT.
GLOBAL EVENT CALENDAR03/09/2016
US0700 ETWeekly MBA mortgage applications, previous -4.8% with purchase sub-index -0.6% and refi sub-index -7.2%.
1000 ETJan wholesale inventories expected -0.2%, Dec -0.1% m/m. Jan wholesale trade sales expected -0.3% m/m, Dec -0.3% m/m.
1030 ETEIA Weekly Petroleum Status Report.
1200 ETUSDA Mar WASDE crop production.
1300 ETTreasury auctions $20 billion 10-year T-notes.
JPN0100 ETJapan Feb machine tool orders, Jan -17.2% y/y.
1850 ETJapan Feb PPI expected -0.3% m/m and -3.4% y/y, Jan -0.9% m/m and -3.1% y/y.
UK0430 ETUK Jan industrial production expected +0.4% m/m and unch y/y, Dec -1.1% m/m and -0.4% y/y.
0430 ETUK Jan manufacturing production expected +0.2% m/m and -0.7% y/y, Dec -0.2% m/m and -1.7% y/y.
1901 ETUK Feb RICS house price balance expected 50%, Jan 49%.
CHI2030 ETChina Feb CPI expected +1.8% y/y, Jan +1.8% y/y. Feb PPI expected -4.9% y/y, Jan -5.3% y/y.
n/aChina Feb new yuan loans expected +1.2 trillion yuan, Jan +2.51 trillion yuan. Feb aggregate financing expected +1.790 trillion yuan, Jan +3.417 trillion yuan.
U.S. STOCK CALENDAR03/09/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Analog Devices IncADI US9:00Annual General MeetingY 2016
Tyco International PlcTYC US10:00Annual General MeetingY 2016
Whole Foods Market IncWFM US11:00Annual General MeetingY 2016
Danaher CorpDHR US17:00ITC Decision Due in Instradent vs. Danaher Corp. Patent Case
Square IncSQ US17:00Q4 2015 Earnings CallQ4 2015
Tahoe Resources IncTHO CNAft-mktQ4 2015 Earnings ReleaseQ4 20150.122
Square IncSQ USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.137
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Tuesday, March 8, 2016

The 5 Best NASDAQ 100 Stocks

Today as I write this post I looked at the 10,000+ stock that are in the Barchart database.  87.22% are trading above their 20 day moving averages and 71.39% are trading above their 59 day moving averages.   I used Barchart to sort the stocks in the NASDAQ 100 Index first for the highest technical buy signals, then I used the Flipchart feature to review the charts.

My list today includes Ross Stores (ROST), Whole Foods Markets (WFM), Kla-Tencor (KLAC), Intuitive Surgical (ISRG) and PayPal (PYPL).

Ross Foods (ROST)


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 8.76% in the last month
  • Relative Strength Index 63.28%
  • Technical support level at 55.88
  • Recently traded at 57.70 with a 50 day moving average of 54.63


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 15.96% in the last month
  • Relative Strength Index 72.43%
  • Technical support level at 31.36
  • Recently traded at 33.96 with a 50 day moving average of 31.12


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 6.83% in the last month
  • Relative Strength Index 59.69%
  • Technical support level at 67.72
  • Recently traded at 68.46 with a 50 day moving average of 66.43


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 12.18% in the last month
  • Relative Strength Index 60.73%
  • Technical support level at 560.01
  • Recently traded at 567.00 with a 50 day moving average of 548.02
PayPal (PYPL)


Barchart technical indicators:
  • 80% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 9 new highs and up 15.20% in the last month
  • Relative Strength Index 64.80%
  • Technical support level at 38.35
  • Recently traded at 38.50 with a 50 day moving average of 35.12











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Thursday, February 11, 2016

MORNING CALL 2/11

MORNING CALL
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 -1.69%) are down sharply by -2.11% at a 3-week low and European stocks are down -3.44% at a 2-1/2 year low after Wednesday's testimony to Congress by Fed Chair Yellen failed to boost confidence in the markets. Crude oil prices (CLH16 -2.95%) are down -4.04% at a 3-week low and copper (HGH16 -0.57%) is down -0.67% at a 2-week low, which has pushed energy producers, miners, and raw-material companies lower with Exxon Mobile sliding more than 5% in pre-market trading. The plunge in global equities has fueled a massive rush into the safe-haven of government bonds as the 10-year UK gilt yield fell to a record low of 1.296%, the 10-year German bund yield declined to a 9-1/2 month low of 0.158% and the 10-year T-note yield dropped to a 2-3/4 year low of 1.62%. The global market turmoil has also pushed global investors into the safe-haven of gold with Apr gold (GCJ16 +3.37%) up +3.93% at an 8-1/2 month high. Asian stocks settled mostly lower: Japan, China and Taiwan closed for holiday. Hong Kong -3.85%, Australia +0.95%, Singapore -1.70%, South Korea -2.83%, India -3.40%.
The dollar index (DXY00 -0.25%) is down -0.40% at a 3-1/2 month low. EUR/USD (^EURUSD) is up +0.41% at a 3-1/2 month high. USD/JPY (^USDJPY) is down -1.83% at a 15-month low.
Mar T-note prices (ZNH16 +0.75%) are up +1-3.5/32 points at a 2-3/4 year nearest-futures high.

U.S. STOCK PREVIEW
Key U.S. news today includes: (1) weekly initial unemployment claims (expected -5,000 to 280,000, previous +8,000 to 285,000) and continuing claims (expected -10,000 to 2.245 million, previous -18,000 to 2.255 million), (2) Fed Chair Janet Yellen's testimony before the Senate Banking Committee to deliver the Fed’s semi-annual monetary policy report to Congress, and (3) the Treasury's auction of $15 billion of 30-year T-bonds.
There are 20 of the S&P 500 companies that report earnings today with notable reports including: Coca-Cola Enterprises (Consensus $0.51), PepsiCo (1.06), Kellogg (0.75), BorgWarner (0.72), AIG (-0.91), CBS (0.92), TripAdvisor (0.33), Wynn Resorts (0.76).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: Goldman Sachs Technology and Internet Conference on Tue-Thu, Bank Of America Merrill Lynch Insurance Conference on Wed-Thu, BB&T Capital Markets Transportation Services Conference on Wed-Thu, Leerink Partners Global Health Care Conference on Wed-Thu, Morgan Stanley Chemicals Corporate Access Day on Thu.



OVERNIGHT U.S. STOCK MOVERS
Exxon Mobil (XOM -0.91%) slumped over 5% in pre-market trading as the price of oil tumbled to a 3-week low.
Twitter (TWTR +4.03%) declined over 8% in pre-market trading after it lowered guidance on Q1 revenue to $595 million-$610 million, below consensus of $627.6 million.
Cisco Systems (CSCO -0.62%) gained 6% in pre-market trading after it reported Q2 adjusted EPS of 57 cents, better than consensus of 54 cents, and then added $15 billion to the company's share buyback program.
Amazon.com (AMZN +1.74%) climbed over 2% in after-hours trading after its board authorized a $5 billion share buyback program
Tesla Motors (TSLA -3.09%) rose nearly 8% in pre-market trading after it reported an unexpected Q4 adjusted EPS loss of -87 cents, well below consensus of a 10 cent profit, but then said it expects its global automobile deliveries to climb as much as 78% this year.
O'Reilly Automotive (ORLY +0.17%) rose over 5% in after-hours trading after it reported Q4 adjusted EPS of $2.19, higher than consensus of $2.08, and then raised guidance on Q1 EPS to $2.41-$2.51, above consensus of $2.38.
Whole Foods Market (WFM -0.65%) jumped nearly 6% in after-hours trading after it reported Q1 EPS of 46 cents, higher than consensus of 40 cents, and then raised guidance on fiscal 2016 EPS to $1.53 or greater, up from a November 4 estimate of $1.50.
Prudential Financial (PRU +0.74%) reported Q4 operating EPS of $1.94, below consensus of $2.30, although Q4 total revenue of $13.2 billion was better than consensus of $11.6 billion.
Pilgrim's Pride (PPC +1.54%) plunged 15% in after-hours trading after it reported Q4 adjusted EPS of 26 cents, much weaker than consensus of 40 cents.
Expedia (EXPE +1.85%) jumped 12% in pre-market trading after it said it sees 2016 adjusted Ebitda growth of 35%-45%. The stock recovered from overnight losses of as much as 7% after it reported Q4 adjusted EPS of 77 cents, well below consensus of 96 cents.
Mylan (MYL -0.39%) tumbled over 8% in pre-market trading after it reported Q4 adjusted EPS of $1.22, weaker than consensus of $1.28.
Skechers (SKX +1.08%) slid over 6% in after-hours trading after it reported Q4 EPS of 19 cents, below consensus of 20 cents.
iRobot (IRBT -3.25%) dropped over 7% in after-hours trading after it lowered guidance on fiscal 2016 EPS to $1.20-$1.40, well below consensus of $1.96.
Zynga (ZNGA +4.93%) tumbled over 10% in after-hours trading after it lowered guidance on Q1 revenue to $160 million-$175 million, below consensus of $184.3 million.

MARKET COMMENTS
Mar E-mini S&Ps (ESH16 -1.69%) this morning are down sharply by -39.00 points (-2.11%) at a 3-week low. Wednesday's closes: S&P 500 -0.02%, Dow Jones -0.62%, Nasdaq +0.47%. The S&P 500 on Wednesday closed little changed. Stocks were boosted by carryover support from a rally in European stocks as concerns over European bank creditworthiness eased after Deutsche Bank AG jumped over 10% when it said it may buy back some of its debt. Stocks also received support from Fed Chair Yellen's comment that the Fed expects the economy to warrant only gradual interest rate increases and that job and wage gains should support incomes and spending. Stocks were undercut by renewed weakness in energy and raw-material producer stocks when the price of crude fell to a 3-week low and the price of copper slid to a 2-week low.
Mar 10-year T-notes (ZNH16 +0.75%) this morning are up +1-3.5/32 points at a 2-3/4 year nearest-futures high. Wednesday's closes: TYH6 +6.00, FVH6 +2.00. Mar T-notes on Wednesday rallied to a new contract high and closed higher on Fed Chair Yellen's comment that the Fed expects the economy to warrant only gradual rate rises. T-notes were also boosted by strong foreign demand for the Treasury's $23 billion 10-year T-note auction where indirect bidders, a proxy for foreign buying, bought 62.3% of the total auction, higher than the 12-auction average of 60.5%.
The dollar index (DXY00 -0.25%) this morning is down -0.386 (-0.40%) at a 3-1/2 month low. EUR/USD (^EURUSD) is up +0.0046 (+0.41%) at a 3-1/2 month high. USD/JPY (^USDJPY) is down -2.07 (-1.83%) at a 15-month low. Wednesday's closes: Dollar Index -0.183 (-0.19%), EUR/USD -0.001(-0.01%), USD/JPY -1.76 (-1.53%). The dollar index on Wednesday closed lower as Fed Chair Yellen said that the Fed expects the economy to warrant only gradual interest rate increases. USD/JPY plunged to a 1-1/4 year low as the yen continued to see safe-haven demand.
Mar crude (CLH16 -2.95%) this morning is down -$1.11 a barrel (-4.04%) at a 3-weeklow and Mar gasoline (RBH16 +0.51%) is up +0.0029 (+0.31%). Wednesday's closes: CLH6 -0.49 (-1.75%), RBH6 +0.0436 (+4.85%). Mar crude oil and gasoline on Wednesday settled mixed with Mar crude at a 3-week nearest-futures low. Crude oil prices were undercut by the +1.26 million bbl increase in EIA gasoline inventories to a record high 255.6 million bbl (more than expectations of +1.0 million bbl) and by the +523,000 bbl increase in crude supplies at Cushing, OK, delivery point of WTI futures, to a record high 64.7 million bbl. Crude oil prices were boosted by a weaker dollar and by the unexpected -754,000 bbl decline in weekly EIA crude oil inventories, less than expectations for a +3.2 million bbl increase.
GLOBAL EVENT CALENDAR02/11/2016
US0830 ETWeekly initial unemployment claims expected -5,000 to 280,000, previous +8,000 to 285,000. Weekly continuing claims expected -10,000 to 2.245 million, previous -18,000 to 2.255 million.
0830 ETUSDA weekly Export Sales.
1000 ETFed Chair Janet Yellen appears before the Senate Banking Committee to deliver the Feds semi-annual monetary policy report to Congress.
1100 ETTreasury announces amount of 30-TIPS to be auctioned Feb 18.
1300 ETTreasury auctions $15 billion 30-year T-bonds.
JPNn/aJapanese markets closed for National Foundation Day.
U.S. STOCK CALENDAR02/11/2016

CompanyTickerTimeEvent DescriptionPeriodEstimate
Coca-Cola Enterprises IncCCE USBef-mktQ4 2015 Earnings ReleaseQ4 20150.506
Advance Auto Parts IncAAP USBef-mktQ4 2015 Earnings ReleaseQ4 20151.203
Reynolds American IncRAI USBef-mktQ4 2015 Earnings ReleaseQ4 20150.504
TripAdvisor IncTRIP USBef-mktQ4 2015 Earnings ReleaseQ4 20150.328
Allegion PLCALLE USBef-mktQ4 2015 Earnings ReleaseQ4 20150.735
Nielsen Holdings PLCNLSN USBef-mktQ4 2015 Earnings ReleaseQ4 20150.798
PepsiCo IncPEP US6:30Q4 2015 Earnings ReleaseQ4 20151.06
Molson Coors Brewing CoTAP US6:45Q4 2015 Earnings ReleaseQ4 20150.512
Mosaic Co/TheMOS US7:00Q4 2015 Earnings ReleaseQ4 20150.442
FLIR Systems IncFLIR US7:30Q4 2015 Earnings ReleaseQ4 20150.492
WW Grainger IncGWW US8:00January 2016 Sales and Revenue Call2016
Kellogg CoK US8:00Q4 2015 Earnings ReleaseQ4 20150.746
PepsiCo IncPEP US8:00Q4 2015 Earnings CallQ4 2015
BorgWarner IncBWA US8:00Q4 2015 Earnings ReleaseQ4 20150.718
TripAdvisor IncTRIP US8:00Q4 2015 Earnings CallQ4 2015
Nielsen Holdings PLCNLSN US8:00Q4 2015 Earnings CallQ4 2015
Equifax IncEFX US8:30Q4 2015 Earnings CallQ4 2015
Advance Auto Parts IncAAP US8:30Q4 2015 Earnings CallQ4 2015
Allegion PLCALLE US8:30Q4 2015 Earnings CallQ4 2015
Emerson Electric CoEMR US9:00Investor MeetingY 2016
FMC CorpFMC US9:00Q4 2015 Earnings CallQ4 2015
Reynolds American IncRAI US9:00Q4 2015 Earnings CallQ4 2015
Mosaic Co/TheMOS US9:00Q4 2015 Earnings CallQ4 2015
Kellogg CoK US9:30Q4 2015 Earnings CallQ4 2015
BorgWarner IncBWA US9:30Q4 2015 Earnings CallQ4 2015
Coca-Cola Enterprises IncCCE US10:00Q4 2015 Earnings CallQ4 2015
International Flavors & Fragrances IncIFF US10:00Q4 2015 Earnings CallQ4 2015
Pioneer Natural Resources CoPXD US10:00Q4 2015 Earnings CallQ4 2015
Molson Coors Brewing CoTAP US11:00Q4 2015 Earnings CallQ4 2015
O'Reilly Automotive IncORLY US11:00Q4 2015 Earnings CallQ4 2015
FLIR Systems IncFLIR US11:00Q4 2015 Earnings CallQ4 2015
Prudential Financial IncPRU US11:00Q4 2015 Earnings CallQ4 2015
Molson Coors Brewing CoTAP US13:00Q4 2015 Earnings Call - Follow-Up SessionC4 2015
QUALCOMM IncQCOM US13:00Analyst DayY 2016
Realty Income CorpO US14:30Q4 2015 Earnings CallQ4 2015
VeriSign IncVRSN US16:05Q4 2015 Earnings ReleaseQ4 20150.781
Activision Blizzard IncATVI US16:30Q4 2015 Earnings CallQ4 2015
CBS CorpCBS US16:30Q4 2015 Earnings CallQ4 2015
VeriSign IncVRSN US16:30Q4 2015 Earnings CallQ4 2015
Wynn Resorts LtdWYNN US16:30Q4 2015 Earnings CallQ4 2015
DaVita HealthCare Partners IncDVA US17:00Q4 2015 Earnings CallQ4 2015
Republic Services IncRSG US17:00Q4 2015 Earnings CallQ4 2015
American International Group IncAIG USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.906
Activision Blizzard IncATVI USAft-mktQ4 2015 Earnings ReleaseQ4 20150.857
CBS CorpCBS USAft-mktQ4 2015 Earnings ReleaseQ4 20150.921
DaVita HealthCare Partners IncDVA USAft-mktQ4 2015 Earnings ReleaseQ4 20150.966
Republic Services IncRSG USAft-mktQ4 2015 Earnings ReleaseQ4 20150.493
Dun & Bradstreet Corp/TheDNB USAft-mktQ4 2015 Earnings ReleaseQ4 20152.831
Wynn Resorts LtdWYNN USAft-mktQ4 2015 Earnings ReleaseQ4 20150.758
Varian Medical Systems IncVAR US19:30Annual General MeetingY 2016
WW Grainger IncGWW USJanuary 2016 Sales and Revenue Release2016
Varian Medical Systems IncVAR USAnnual General Meeting
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Monday, August 31, 2015

BARCHART MORNING CALL 8/31

OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU15 -0.83%) are down -0.82% and European stocks are down -0.52% as Chinese stocks fell on concern China's efforts to prop up its equity market will fail. Another negative for global stock and commodity markets was hawkish comments from Fed and ECB members at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming. Fed Vice Chair Fischer said there's "good reason" to believe that inflation is poised to move higher and ECB Vice President Constancio said that the link between real activity and inflation in the Eurozone has "strengthened." Losses in European stocks were contained after German Jul retail sales came in stronger than expected. Asian stocks closed mostly lower: Japan -1.28%, Hong Kong +0.27%, China -0.82%, Taiwan +1.94%, Australia -1.08%, Singapore -1.17%, South Korea +0.19%, India -0.41%. China's Shanghai Composite fell even after people familiar with the matter said China's securities regulator asked brokerages to increase stock buybacks and step up their support for stock prices by contributing 100 billion yuan ($15.7 billion) to China's market rescue fund. Japanese stock prices were also pressured after Japan Jul industrial production came in weaker than expected.
The dollar index (DXY00 -0.14%) is down -0.13%. EUR/USD (^EURUSD) is up +0.21% after Eurozone Aug CPI rose at a faster pace than expected. USD/JPY (^USDJPY) is down -0.36%.
Sep T-note prices (ZNU15 +0.09%) are up +3 ticks.
Comments from Fed Vice Chair Fischer Saturday at the Kansas City Fed's annual symposium in Jackson Hole, WY, suggest he favors an interest rate increase sooner rather than later when he said "given the apparent stability of inflation expectations, there is good reason to believe that inflation will move higher as the forces holding down inflation dissipate further."
ECB Vice President Constancio said at the Fed's symposium in Jackson Hole, WY, that "the link between inflation and real activity appears to have strengthened in the Eurozone recently."
The Eurozone Aug CPI estimate rose +0.2% y/y, higher than expectations of +0.1% y/y. Aug core CPI rose +1.0% y/y, higher than expectations of +0.9% y/y.
Japan Jul industrial production fell -0.6% m/m and rose +0.2% y/y, weaker than expectations of +0.1% m/m and +0.8% y/y.
German Jul retail sales rose +1.4% m/m and +3.3% y/y, stronger than expectations of +1.1% m/m and +1.7% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Aug Milwaukee ISM (expected +2.88 to 50.00, Jul +0.57 to 47.12), (2) Aug Chicago PMI (expected -0.02 at 54.5, Jul +4.7 to 54.7), (3) Aug Dallas Fed manufacturing activity (expected +0.8 to -3.8, Jul +2.4 to -4.6).
None of the Russell 1000 companies report earnings today.
U.S. IPO's scheduled to price today include: GC Aesthetics (GCAA), Ardelyx (ARDX), Accelerize (ACLZ), NovaBay Pharmaceuticals (NBY).
Equity conferences this week include: European Society of Cardiology Meeting on Mon-Wed, Longbow Research Industrial Manufacturing & Technology Investor Conference on Tue, Simmons Gleneagles Energy Conference on Tue-Wed, KeyBanc Capital Markets Basic Materials and Packaging Conference on Wed, Global Hunter Securities Industrials Conference on Thu.
OVERNIGHT U.S. STOCK MOVERS
United Technologies (UTX -0.03%) was downgraded to 'Equal Weight' from 'Overweight' at Barclays.
Intel (INTC +2.53%) was upgraded to 'Outperform' from 'Market Perform' at Northland.
Twitter (TWTR +1.40%) was upgraded to 'Buy' from 'Neutral' at SunTrust.
Morgan Stanley (MS -0.73%) and Goldman Sachs (GS -0.77%) were both upgraded to 'Buy' from 'Hold' at Evercore ISI.
J.C. Penney (JCP +5.55%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank.
CNOOC (CEO -1.67%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill Lynch.
Southern Copper (SCCO +1.56%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Stanley Black & Decker (SWK -0.23%) was upgraded to 'Outperform' from 'Neutral' at Macquarie.
Baidu (BIDU +0.05%) was upgraded to 'Buy' from 'Hold' at Jefferies.
Freeport McMoRan (FCX +3.04%) , which has fallen over 70% in the past year, looks oversold, according to Barron's.
Barron's said that With its shares down about 50% from all-time highs, Whole Foods Market (WFM -0.88%) looks cheap.
Kopp Investment Advisors reported a 16.1% stake in Superconductor Technologies (SCON unch) .
Apollo Principal Holdings reported a 5.7% stake in RCS Capital (RCAP unch) .
Integrated Core Strategies reported a 4.7% passive stake in Whiting Petroleum (WLL +5.07%) .
MARKET COMMENTS
Sep E-mini S&Ps (ESU15 -0.83%) this morning are down -16.25 points (-0.82%). Friday's closes: S&P 500 +0.063%, Dow Jones -0.07%, Nasdaq +0.10%. The S&P 500 on Friday closed little changed. Stocks were undercut by the +0.3% increase in U.S. Jul personal spending, less than expectations of +0.4%, and by the unexpected -1.0 point decline in U.S. Aug University of Michigan consumer sentiment to 91.0, weaker than expectations of +0.1 to 93.0. Stocks found support on Friday's +4.8% rally in China's Shanghai Composite and strength in energy producers after crude oil rallied to a 2-week high.
Sep 10-year T-notes (ZNU15 +0.09%) this morning are up +3 ticks. Friday's closes: TYU5 -5.00, FVU5 -7.75. Sep T-notes on Friday closed lower on the stable U.S. stock market and Friday's +4.8% rally in the Chinese Shanghai index. T-notes were also hurt by Cleveland Fed President Mester's comment that the U.S. economy "is solid and could support an increase in interest rates" despite recent market turmoil. T-notes found support on the decline in the U.S. Jul core PCE deflator, the Fed's preferred gauge of inflation, to a 4-1/3 year low of +1.2% y/y.
The dollar index (DXY00 -0.14%) this morning is down -0.128 (0.13%). EUR/USD (^EURUSD) is up +0.0024 (+0.21%). USD/JPY (^USDJPY) is down -0.44 (-0.36%). Friday's closes: Dollar Index +0.496 (+0.52%), EUR/USD -0.00698 (-0.62%), USD/JPY +0.668 (+0.55%). The dollar index on Friday climbed to a 1-week high and closed higher on the increases in U.S. Jul personal spending and income that were close to expectations, and weakness in EUR/USD which fell to a 1-week low on speculation the ECB may expand stimulus after ECB Executive Board member Praet said that policy makers are ready to act if they perceive a material shift in inflation risks.
Oct crude oil (CLV15 -1.77%) this morning is down -89 cents (-1.97%) and Oct gasoline (RBV15 -2.08%) is down -0.0250 (-2.51%). Friday's closes: CLV5 +2.81 (+6.60%), RBV5 +0.0635 (+5.78%). Oct crude and gasoline prices on Friday closed higher with Oct crude at a 2-week high. Crude oil found support on the sharp +4.8% rally in the Shanghai index on Friday and on the close-to-expected increases in U.S. Jul personal spending and income, which were positive for economic growth and energy demand.
GLOBAL EVENT CALENDAR08/31/2015
US0900 ETAug Milwaukee ISM expected +2.88 to 50.00, Jul +0.57 to 47.12.
0945 ETAug Chicago PMI expected -0.2 at 54.5, Jul +4.7 to 54.7.
1030 ETAug Dallas Fed manufacturing activity expected +0.8 to -3.8, Jul +2.4 to -4.6.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA weekly crop progress.
JPN0000 ETJapan Jul vehicle production, Jun -5.3% y/y.
0100 ETJapan Jul housing starts expected +11.0% y/y to 938,000 annualized, Jun +16.3% y/y to 1.033 million annualized.
0100 ETJapan Jul construction orders, Jun +15.4% y/y.
1950 ETJapan Q2 capital spending expected +8.9% y/y, Q1 +7.3% y/y. Q2 capital spending ex-software expected +11.3% y/y, Q1 +8.1% y/y.
2135 ETRevised Japan Aug Nikkei manufacturing PMI.
GER0200 ETGerman Jul retail sales expected +1.3% m/m and +1.7% y/y, Jun -2.3% m/m and +5.1% y/y.
EUR0500 ETEurozone Aug CPI estimate expected +0.1% y/y, Jul +0.2% y/y. Aug core CPI expected +0.9% y/y, Jul +1.0% y/y.
CHI2100 ETChina Aug manufacturing PMI expected -0.3 to 49.7, Jul 50.0. Aug non-manufacturing PMI, Jul 53.9.
U.S. STOCK CALENDAR08/31/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
TCF Financial CorpTCB US8:30Investor Day
Multiple CompaniesNEE US9:00Business Update Call
VMware IncVMW US15:00Analyst Day
Genesee & Wyoming IncGWR USInvestor Meeting
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