Showing posts with label WWW. Show all posts
Showing posts with label WWW. Show all posts

Tuesday, October 20, 2015

BARCHART MORNING CALL 10/20

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ15 -0.21%) are down -0.31% and European stocks are down -0.85% on reduced chances of additional easing from the ECB after the ECB's lending survey showed that credit standards on loans to companies eased for the sixth consecutive quarter. Also, weakness is IBM, which is down -4.5% in pre-market trading, is undercutting stocks after it lowered its full-year profit forecast after Q3 revenue missed estimates. Mining companies and raw-material stocks are lower as well after the price of copper (HGZ15 -0.30%) fell to a 1-week low. Asian stocks settled mixed: Japan +0.42%, Hong Kong -0.37%, China +1.14%, Taiwan +0.26%, Australia -0.65%, Singapore -0.18%, South Korea +0.43%, India -0.21%. China's Shanghai Composite rose to a 1-3/4 month high as a rally in small-cap stocks led the overall market higher on speculation the government will boost stimulus in the technology industry to offset the faltering industrial sector.
The dollar index (DXY00 -0.31%) is down -0.31%. EUR/USD (^EURUSD) is up +0.45%. USD/JPY (^USDJPY) is up +0.11%.
Dec T-note prices (ZNZ15 -0.15%) are down -6 ticks on negative carryover from a slide in German bund prices after strength in the ECB's Bank Lending Survey curbed speculation the ECB will expand QE.
The ECB said Q3 credit standards on loans to companies eased for the sixth consecutive quarter, according to the ECB's Bank Lending Survey. The survey showed 40% of banks said they used the extra liquidity from the ECB's QE program to lend to companies, while 14% increased mortgages and 36% expanded consumer credit and other loans to households.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Sep housing starts (expected +1.4% to 1.142 million, Aug -3.0% to 1.126 million), (2) introductory remarks by Fed Governor Jerome Powell and New York Fed President William Dudley at a conference on bond market liquidity, and (3) Fed Chair Janet Yellen's welcoming remarks at a Labor Hall of Honor Induction Ceremony.
There are 22 of the S&P 500 companies that report earnings today with notable reports including: Yahoo (consensus $0.16), Bank of New York Mellon (0.71), Fifth Third Bancorp (0.40), Verizon (1.02), Chipotle (4.62), Discover Financial Services (1.33), Navient (0.48).
U.S. IPO's scheduled to price today: Ferrari (RACE).
Equity conferences today include: Private Wealth Latin America and The Caribbean Forum on Wed.
OVERNIGHT U.S. STOCK MOVERS
International Business Machines (IBM -0.78%) fell nearly 5% in pre-market trading after it reported Q3 adjusted EPS of $3.34, above consensus of $3.30, but then lowered guidance for fiscal 2015 EPS to $15.25, plus or minus 50 cents, below consensus of $15.68.
Fifth Third Bancorp (FITB +0.11%) reported Q3 EPS of 39 cents, below consensus of 40 cents.
Harley Davidson (HOG +1.16%) reported Q3 EPS of 69 cents, weaker than consensus of 78 cents.
The Travelers Cos. (TRV +0.40%) reported Q3 EPS of $2.93, higher than consensus of $2.26.
Omnicom Group (OMC +0.07%) reported Q3 EPS of 97 cents, better than consensus of 95 cents.
Wolverine World Wide (WWW -0.25%) reported Q3 EPS of 48 cents, right on consensus, but then lowered guidance on fiscal 2015 EPS to $144-$1.47 from a February estimate of $1.53-$1.60, below consensus of $1.47.
The Fresh Market (TFM +3.51%) was raised to 'Neutral' from 'Underperform' at Credit Suisse.
Hexcel (HXL +0.07%) fell over 4% in after-hours trading after it reported Q3 EPS of 55 cents, weaker than consensus of 59 cents, and then lowered guidance on fiscal 2015 EPS to $2.28-$2.34, below consensus of $2.43.
SanDisk (SNDK +2.90%) jumped over 8% in after-hours trading after people with knowledge of the matter said SanDisk is in advanced talks to sell itself to Western Digital Corp.
Ctrip.com (CTRIP) climbed nearly 2% in after-hours trading after Priceline Group raised its stake in the company to 12.63%.
Rambus (RMBS +0.87%) sank nearly 15% in after-hours trading after it reported Q3 EPS of 14 cents, right on consensus, but then lowered guidance on Q4 revenue to $71 million -$77 million, below consensus of $83.4 million.
Sonic Corp. (SONC +1.99%) rose 5% in after-hours trading after it reported Q4 EPS of 43 cents, better than consensus of 42 cents, and raised guidance for fiscal year 2016 EPS growth to 16% to 20% per share, higher than a previous outlook of 14% to 18% growth.
Flexatronic International (FLEX -0.80%) rose 6% in after-hours trading after it reported Q2 EPS of 27 cents, higher than consensus of 25 cents.
MARKET COMMENTS
Dec E-mini S&Ps (ESZ15 -0.21%) this morning are down -6.25 points (-0.31%). Monday's closes: S&P 500 +0.03%, Dow Jones +0.08%, Nasdaq +0.53%. The S&P 500 on Monday closed slightly higher on reduced Chinese economic concerns after the China Q3 GDP report of +6.9% y/y was slightly stronger than expectations of +6.8% y/y. In addition, the U.S. Oct NAHB housing market index showed a larger than-expected gain to a new 10-year high of 64. Meanwhile, bank stocks were undercut by disappointing earnings from Morgan Stanley and by weakness in energy producers after crude oil fell by over-3%.
Dec 10-year T-notes (ZNZ15 -0.15%) this morning are down -6 ticks. Monday's closes: TYZ5 -2.00, FVZ5 +1.00. Dec T-notes on Monday closed slightly lower on increased worries about a Fed tightening after the stronger-than-expected Chinese Q3 GDP of +6.9% and the larger-than-expected increase in the Oct NAHB housing market index to a 10-year high.
The dollar index (DXY00 -0.31%) this morning is down -0.293 (-0.31%). EUR/USD (^EURUSD) is up +0.0051 (+0.45%). USD/JPY (^USDJPY) is up +0.13 (+0.11%). Monday's closes: Dollar Index +0.388 (+0.41%), EUR/USD -0.0021 (-0.19%), USD/JPY +0.06 (+0.05%). The dollar index on Monday rose to a 1-week high and closed higher on the slightly increased chances for a Fed rate hike after the stronger-than-expected U.S. Oct NAHB housing market index report to a 10-year high. In addition, EUR/USD fell to a 1-week low on speculation that ECB President Draghi will consider expanding QE when the ECB meets on Thursday.
Dec crude oil (CLZ15 +0.19%) this morning is down -1 cent (-0.02%) and Dec gasoline (RBZ15 +0.31%) is down -0.0006 (-0.05%). Monday's closes: CLZ5-1.44 (-3.02%), RBZ5 -0.0538 (-4.03%). Dec crude oil and gasoline prices on Monday closed lower with Dec gasoline at a 1-1/2 month low. Crude oil and gasoline prices were undercut by the rally in the dollar index to a 1-week high and the decline in Q3 China GDP to a 6-1/2 year low of +6.9% y/y. In addition, the market is expecting Wednesday's weekly EIA report to show a +500,000 bbl increase in Cushing crude oil inventories.
GLOBAL EVENT CALENDAR10/20/2015
US0830 ETSep housing starts expected +1.4% to 1.142 million, Aug -3.0% to 1.126 million. Sep building permits expected unch at 1.170 million, Aug +3.5% to 1.170 million.
0900 ETFed Governor Jerome Powell and New York Fed President William Dudley give introductory remarks at a conference on bond market liquidity.
1100 ETFed Chair Janet Yellen delivers welcoming remarks at a Labor Hall of Honor Induction Ceremony.
GER0200 ETGerman Sep PPI expected -0.2% m/m and -1.8% y/y, Aug -0.5% m/m and -1.7% y/y.
JPN0130 ETJapan Sep nationwide department store sales, Aug +2.7% y/y.
0200 ETRevised Japan Sep machine tool orders, previous -19.1% y/y.
1950 ETJapan Sep trade balance expected +87.0 billion yen, Aug -569.4 billion yen. Sep exports expected +3.8% y/y, Aug +3.1% y/y. Sep imports expected -11.9% y/y, Aug -3.1% y/y.
EUR0400 ETEurozone Aug current account, Jul +33.8 billion euros (nsa).
U.S. STOCK CALENDAR10/20/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
TEGNA IncTGNA USBef-mktQ3 2015 Earnings ReleaseQ3 20150.356
Harley-Davidson IncHOG USBef-mktQ3 2015 Earnings ReleaseQ3 20150.783
United Technologies CorpUTX USBef-mktQ3 2015 Earnings ReleaseQ3 20151.544
Pentair PLCPNR USBef-mktQ3 2015 Earnings ReleaseQ3 20150.958
Lockheed Martin CorpLMT USBef-mktQ3 2015 Earnings ReleaseQ3 20152.717
Prologis IncPLD USBef-mktQ3 2015 Earnings ReleaseQ3 20150.578
Regions Financial CorpRF USBef-mktQ3 2015 Earnings ReleaseQ3 20150.196
Bank of New York Mellon Corp/TheBK US6:30Q3 2015 Earnings ReleaseQ3 20150.712
Fifth Third BancorpFITB US6:30Q3 2015 Earnings ReleaseQ3 20150.4
Travelers Cos Inc/TheTRV US6:57Q3 2015 Earnings ReleaseQ3 20152.262
Dover CorpDOV US7:00Q3 2015 Earnings ReleaseQ3 20151.066
Omnicom Group IncOMC US7:00Q3 2015 Earnings ReleaseQ3 20150.951
Verizon Communications IncVZ US7:30Q3 2015 Earnings ReleaseQ3 20151.022
Bank of New York Mellon Corp/TheBK US8:00Q3 2015 Earnings CallQ3 2015
Verizon Communications IncVZ US8:30Q3 2015 Earnings CallQ3 2015
Omnicom Group IncOMC US8:30Q3 2015 Earnings CallQ3 2015
United Technologies CorpUTX US8:30Q3 2015 Earnings CallQ3 2015
Harley-Davidson IncHOG US9:00Q3 2015 Earnings CallQ3 2015
Travelers Cos Inc/TheTRV US9:00Q3 2015 Earnings CallQ3 2015
Fifth Third BancorpFITB US9:00Q3 2015 Earnings CallQ3 2015
Pentair PLCPNR US9:00Q3 2015 Earnings CallQ3 2015
Dover CorpDOV US10:00Q3 2015 Earnings CallQ3 2015
TEGNA IncTGNA US10:00Q3 2015 Earnings CallQ3 2015
JM Smucker Co/TheSJM US10:00Investor DayY 2015
Lockheed Martin CorpLMT US11:00Q3 2015 Earnings CallQ3 2015
Regions Financial CorpRF US11:00Q3 2015 Earnings CallQ3 2015
Prologis IncPLD US12:00Q3 2015 Earnings CallQ3 2015
Chipotle Mexican Grill IncCMG US16:00Q3 2015 Earnings ReleaseQ3 20154.624
Yahoo! IncYHOO US16:05Q3 2015 Earnings ReleaseQ3 20150.159
Intuitive Surgical IncISRG US16:05Q3 2015 Earnings ReleaseQ3 20154.221
Discover Financial ServicesDFS US16:05Q3 2015 Earnings ReleaseQ3 20151.325
Intuitive Surgical IncISRG US16:30Q3 2015 Earnings CallQ3 2015
Chipotle Mexican Grill IncCMG US16:30Q3 2015 Earnings CallQ3 2015
Yahoo! IncYHOO US17:00Q3 2015 Earnings CallQ3 2015
Discover Financial ServicesDFS US17:00Q3 2015 Earnings CallQ3 2015
Chubb Corp/TheCB USAft-mktQ3 2015 Earnings ReleaseQ3 20152.014
ACE LtdACE USAft-mktQ3 2015 Earnings ReleaseQ3 20152.368
FMC Technologies IncFTI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.579
Navient CorpNAVI USAft-mktQ3 2015 Earnings ReleaseQ3 20150.476
Sigma-Aldrich CorpSIAL USQ3 2015 Earnings ReleaseQ3 20151.055
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Tuesday, February 17, 2015

BARCHART MORNING CALL 2/17

BARCHART MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 -0.10%) this morning are down -0.13% and European stocks are down -0.13% after Monday's meeting of Eurozone finance ministers ended abruptly after Greek Finance Minister Varaoufakis refused to bow to European demands. The Eurozone finance ministers said there will be no more talks on financial support unless the Greek government requests an extension of its existing bailout program. The current aid program ends at the end of this month and failure by Greece to extend the aid could see it run out of cash by the end of next month and force it into default. Stock prices recovered from their worst levels after a gauge of German investor confidence rose to the highest in a year. Asian stocks closed mixed: Japan -0.10%, Hong Kong +0.24%, China +0.65% Taiwan and India closed for holiday, Australia -0.52%, Singapore -0.33%, South Korea +0.22%. China's Shanghai Stock Index climbed to a 2-week high ahead of the week-long Lunar New Year holidays that begin tomorrow. Commodity prices are mixed. Mar crude oil (CLH15 +0.25%) is up +0.81% and Mar gasoline (RBH15 +0.12%) is up +0.36% at a 1-3/4 month high. Apr gold (GCJ15 -0.48%) is down -0.37%. Mar copper (HGH15 -1.06%) is down -1.06%. Agriculture prices are higher. The dollar index (DXY00 -0.28%) is down -0.35%. EUR/USD (^EURUSD) is up +0.67%. USD/JPY (^USDJPY) is up +0.24%. Mar T-note prices (ZNH15 -0.11%) are down -5.5 ticks.
The German Feb ZEW survey expectations of economic growth rose +4.6 to 53.0, less than expectations of +6.6 to 55.0, but still the highest in a year. The Feb ZEW survey current situation jumped +23.1 to 45.5, a much larger increase than expectations of +7.6 to 30.0 and the highest in 7 months.
Eurozone Jan new passenger car registrations rose +6.7% y/y to 999,000, the most in 10 months.
UK Jan CPI fell -0.9% m/m, more than expectations of -0.8% m/m and matched the largest monthly decline on record (data from 1988). On an annual basis, Jan CPI rose +0.3% y/y, less than expectations of +0.4% y/y and the smallest pace of increase on record.
U.S. STOCK PREVIEW
Today’s Feb Empire manufacturing index is expected to show a small -1.45 point decline to 8.50, giving back part of the +11.18 point surge to 9.95 seen in January. Today’s Feb NAHB housing market index is expected to show a small +1 point increase to 58, reversing January’s -1 point decline. There are 13 of the S&P 500 companies that report earnings today with notable reports including: Waste Management (consensus $0.60), Genuine Parts (1.07), Goodyear (0.58), Medtronic (0.97), Agilent (0.41), Fossil Group (3.07). Equity conferences this week include: Consumer Analysts Group of New York Conference on Tue-Thu, and Barclays Industrial Select Conference on Wed-Thu.




OVERNIGHT U.S. STOCK MOVERS
Cablevision (CVC +1.58%) was downgraded to 'Sell' from 'Neutral' at UBS.
Deutsche Bank reiterates a 'Sell' rating on Transocean (RIG +2.25%) and cut its price target on the stock to $6 from $16 after the company announced an 80% dividend reduction and the departure of its CEO.
Medtronic PLC (MDT +0.44%) reported Q3 EPS of $1.01, higher than consensus of 97 cents.
American Express (AXP -2.98%) was downgraded to 'Neutral' from 'Buy' at Guggenheim.
Micron (MU -0.28%) was upgraded to 'Outperform' from 'Neutral' at Macquarie.
Wolverine World Wide (WWW +1.69%) reported Q4 adjusted EPS of 30 cents, right on consensus.
LyondellBasell (LYB +0.21%) was downgraded to 'Neutral' from 'Buy' at Citigroup.
Nordstrom (JWN +0.05%) was downgraded to 'Underweight' from 'Equal Weight' at Barclays.
United Stationers (USTR +1.21%) reported Q4 adjusted EPS of 88 cents, better than consensus of 84 cents.
Vipshop (VIPS +1.68%) reported Q4 EPS of 12 cents, higher than consensus of 9 cents.
Reuters reports that Endo Intenational (ENDP +1.35%) is interested in buying Salix Pharmaceuticals (SLXP +2.12%) .
Elon Musk reported a 21.4% stake in SolarCity (SCTY +0.77%) .
Reuters reports that United Airlines (UAL -1.65%) will cut about 1,150 positions at 16 airports across the country.
Bloomberg reports that JetBlue will drop American Express (AXP -2.98%) in favor of MasterCard (MA -0.43%) .
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 -0.10%) this morning are down -2.75 points (-0.13%). The S&P 500 index on Friday climbed to a new all-time high and closed higher: S&P 500 +0.41%, Dow Jones +0.26%, Nasdaq +0.83%. Bullish factors included (1) positive carry-over from a rally in European stocks after Eurozone Q4 GDP expanded +0.3% q/q and +0.9% y/y, better than expectations of +0.2% q/q and +0.8% y/y, and (2) signs of stronger credit growth in China that may help revive the Chinese economy as China Jan new yuan loans totaled 1.47 trillion yuan, more than expectations of 1.35 trillion yuan and the most in 5-1/2 years. A negative factor was the unexpected -4.5 point decline in the Feb U.S. consumer confidence index to 93.6, weaker than expectations of unchanged at 98.1.
Mar 10-year T-notes (ZNH15 -0.11%) this morning are down -5.5 ticks. Mar 10-year T-note futures prices on Friday closed lower. Closes: TYH5 -6.00, FVH5 -3.50. Negative factors included (1) the rally in the S&P 500 to a new record high, which curbed safe-haven demand for T-notes, and (2) optimism that Greek and European leaders will find a compromise on Greek debt negotiations, which also undercut safe-haven demand for T-notes.
The dollar index (DXY00 -0.28%) this morning is down -0.331 (-0.35%). EUR/USD (^EURUSD) is up +0.0076 (+0.67%). USD/JPY (^USDJPY) is up +0.28 (+0.24%). The dollar index on Friday closed little changed: Dollar index +0.107 (+0.11%), EUR/USD -0.00254 (-0.22%), USD/JPY -0.357 (-0.30%). A bearish factor was the unexpected decline in Feb U.S. consumer confidence. A supportive factor was weakness in EUR/USD ahead of the Feb 16 meeting of Eurozone finance ministers to discuss a solution to Greece’s debt financing.
Mar WTI crude oil (CLH15 +0.25%) this morning is up +43 cents (+0.81%) and Mar gasoline (RBH15 +0.12%) is up +0.0059 (+0.36%) at a 1-3/4 month high. Mar crude oil and Mar gasoline on Friday closed higher with Mar gasoline at a 2-month high: CLH5 +1.57 (+3.07%), RBH5 +0.0307 (+1.92%). Bullish factors included (1) the rally in the S&P 500 to a record high, which bolsters optimism in the economic outlook and energy demand, (2) the decline in U.S. operating oil rigs in the week ended Feb 13 to 1056, the fewest in 3-1/2 years, which may curb U.S. crude production, and (3) concern that the ongoing strike by United Steelworkers union who represent employees at more than 200 refineries with 10% of U.S. refining output will start to curtail gasoline and distillate production.
GLOBAL EVENT CALENDAR02/17/2015
US0830 ETFeb Empire manufacturing index expected -1.45 to 8.50, Jan +11.18 to 9.95.
1000 ETFeb NAHB housing market index expected +1 to 58, Jan -1 to 57.
1100 ETUSDA weekly grain export inspections.
1245 ETPhiladelphia Fed President Charles Plosser offers his views on monetary policy and explains the risks of keeping interest rates low.
EUR0200 ETEurozone Jan new car registrations, Dec +4.7% y/y.
n/aEurozone finance ministers meet in Brussels to discuss Greeces debt financing.
UK0430 ETUK Jan CPI expected -0.8% m/m and +0.4% y/y, Dec unch m/m and +0.5% y/y. Jan core CPI, Dec +1.3% y/y.
0430 ETUK Jan RPI expected -0.7% m/m and +1.3% y/y, Dec +0.2% m/m and +1.6% y/y. Jan RPI ex-mortgage interest payments expected +1.3% y/y, Dec +1.7% y/y.
0430 ETUK Jan PPI input prices expected -2.4% m/m and -11.9% y/y, Dec -2.4% m/m and -10.7% y/y.
0430 ETUK Jan PPI output prices expected -0.3% m/m and -1.5% y/y, Dec -0.3% m/m and -0.8% y/y. Jan PPI output core expected +0.1% m/m and +0.4% y/y, Dec unch m/m and +0.8% y/y.
0430 ETUK Dec ONS house prices, Dec +10.0% y/y.
GER0500 ETGerman Feb ZEW survey expectations of economic growth expected +7.6 to 56.0, Jan 48.4. Feb ZEW survey current situation expected +7.6 to 30.0, Jan 22.4.
U.S. STOCK CALENDAR02/17/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
Waste Management IncWM USBef-mktQ4 2014 Earnings ReleaseQ4 20140.597
Genuine Parts CoGPC USBef-mktQ4 2014 Earnings ReleaseQ4 20141.065
Goodyear Tire & Rubber Co/TheGT USBef-mktQ4 2014 Earnings ReleaseQ4 20140.577
Medtronic PLCMDT US7:15Q3 2015 Earnings ReleaseQ3 20150.971
Verizon Communications IncVZ US8:00Business Update Call
Medtronic PLCMDT US8:00Q3 2015 Earnings CallQ3 2015
Goodyear Tire & Rubber Co/TheGT US9:00Q4 2014 Earnings CallQ4 2014
Waste Management IncWM US10:00Q4 2014 Earnings CallQ4 2014
Genuine Parts CoGPC US11:00Q4 2014 Earnings CallQ4 2014
Agilent Technologies IncA US16:05Q1 2015 Earnings ReleaseQ1 20150.407
Agilent Technologies IncA US16:30Q1 2015 Earnings CallQ1 2015
Fossil Group IncFOSL US16:30Q4 2014 Earnings CallQ4 2014
Analog Devices IncADI US17:00Q1 2015 Earnings CallQ1 2015
Devon Energy CorpDVN USAft-mktQ4 2014 Earnings ReleaseQ4 20141.049
Analog Devices IncADI USAft-mktQ1 2015 Earnings ReleaseQ1 20150.606
Flowserve CorpFLS USAft-mktQ4 2014 Earnings ReleaseQ4 20141.121
CF Industries Holdings IncCF USAft-mktQ4 2014 Earnings ReleaseQ4 20145.081
Vornado Realty TrustVNO USAft-mktQ4 2014 Earnings ReleaseQ4 20141.233
Cimarex Energy CoXEC USAft-mktQ4 2014 Earnings ReleaseQ4 20140.8
FirstEnergy CorpFE USAft-mktQ4 2014 Earnings ReleaseQ4 20140.755
Fossil Group IncFOSL USAft-mktQ4 2014 Earnings ReleaseQ4 20143.071
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Tuesday, January 13, 2015

BARCHART MORNING CALL 1/13

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 +0.49%) this morning are up +0.53% and European stocks are up +1.20% as a plunge in crude oil to a new 5-1/2 year low reduces expectations of an early interest rate increase by the Fed and boosts speculation the ECB will expand stimulus to ward off deflation. Stocks also received support from a larger-than-expected increase in China Dec exports, a sign of economic strength. Asian stocks closed mixed: Japan -0.64%, Hong Kong +0.79%, China +0.01%, Taiwan +0.58%, Australia -0.33%, Singapore -0.11%, South Korea +0.24%, India -0.58%. Commodity prices are mixed. Feb crude oil (CLG15 -2.82%) is down -2.76% at a fresh 5-1/2 year low. Feb gasoline (RBG15 -2.56%) is down -2.55% at a 5-3/4 year low. Feb gold (GCG15 +0.56%) is up +0.53% at a 2-1/2 month high on speculation the plunge in energy costs will raise deflation concerns and reduce the chance of a Fed interest rate increase. Mar copper (HGH15 -2.90%) is down -2.97% at a 4-1/2 year low on signs of increased supplies after LME copper inventories rose +3,925 MT to a 7-3/4 month high of 191.325 MT. Copper continues to slide despite strong demand from China after data from China's customs office showed China 2014 copper imports rose +7.4% to a record 4.83 MMT. Agriculture prices are higher. The dollar index (DXY00 +0.28%) is up +0.31%. EUR/USD (^EURUSD) is down -0.36%. USD/JPY (^USDJPY) is up +0.26%. Mar T-note prices (ZNH15 +0.16%) are up +6.5 ticks at a 2-3/4 month high.
The China Dec trade balance was in surplus by +$49.61 billion, more than expectations of +$49.00 billion. Dec exports rose +9.7% y/y, stronger than expectations of +6.0% y/y. Dec imports fell -2.4% y/y, less than expectations of -6.2% y/y.
Comments from ECB Governing Council member Nowotny signal he favors implementing QE when the ECB meets on Jan 22 when he said policy makers must treat the threat of deflation seriously and "we shouldn't wait too long with a reaction."
The German Dec wholesale price index fell -1.0% m/m, the biggest decline in 6 years. On an annual basis, Dec wholesale prices fell -2.3% y/y, the largest annual decline in 5 years.
UK Dec CPI was unch m/m and rose +0.5% y/y, less than expectations of +0.1% m/m and +0.7% y/y with the +0.5% y/y increase matching the May 2000 gain as the slowest annual pace of increase on record. Dec core CPI rose +1.3% y/y, right on expectations.
The Japan Dec eco-watchers survey current rose +3.7 to 45.2, more than expectations of +2.5 to 44.0. The Dec eco-watchers survey outlook rose +2.7 to 46.7.
U.S. STOCK PREVIEW
Today’s Nov JOLTS job openings report is expected to rise by +16,000 jobs to 4.850 million jobs, adding to October’s increase of +149,000 to 4.834 million jobs.  The Treasury today will sell $21 billion of 10-year T-notes.  There are three of the Russell 1000 companies that report earnings today:  IHS (consensus $1.55), CSX (0.49), Linear Technology (0.49).  Equity conferences during the remainder of this week include:  JP Morgan Health Care Conference on Mon-Wed, Needham Growth Conference on Tue, Deutsche Bank Global Auto Industry Conference on Tue-Wed, and Biomarkers from Research to Clinic Conference on Fri.
OVERNIGHT U.S. STOCK MOVERS
Hilton (HLT -1.01%) was upgraded to 'Outperform' from 'Market Perform' at Wells Fargo.
Marathon Petroleum (MPC -3.47%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan Chase.
Mosaic (MOS +0.87%) was downgraded to 'Underperformer' from 'Sector Performer' at CIBC.
Tilly's (TLYS +0.43%) was upgraded to 'Buy' from 'Neutral' at B. Riley.
Comerica (CMA -0.96%) was upgraded to 'Neutral' from 'Underperform' at RW Baird.
NRG Energy (NRG -1.66%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.
FirstEnergy (FE -1.31%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
Valmont (VMI -0.06%) lowered its fiscal 2014 EPS view to $8.10-$8.20 from $8.55-$8.65, weaker than consensus of $8.60.
Paulson & Co. reported a 19.8% passive stake in International Tower Hill Mines (THM +11.90%) .
Wolverine World Wide (WWW +0.37%) said it sees fiscal 2014 adjusted EPS at the high end of $1.57-$1.63 with fiscal 2014 revenue of $2.76 billion, more than consensus of $2.74 billion.
The Leverhulme Trust reported a 5.5% stake in Unilever (UL +1.53%) .
Sensata (ST -1.51%) was initiated with a 'Buy' at Stifel with a price target of $60.
Nokomis Capital reported a 10.1% passive stake in WidePoint (WYY -1.94%) .
SYNNEX (SNX -1.31%) reported Q4 EPS of $1.83, stronger than consensus of $1.69, and then sais it sees Q1 EPS of $1.49-$1.54, above consensus of $1.45.
Alcoa (AA +0.37%) rose over 2% in after-hours trading after it reported Q4 adjusted EPS of 33 cents, well above consensus of 27 cents.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 +0.49%) this morning are up +10.75 points (+0.53%). The S&P 500 index on Monday closed lower: S&P 500 -0.81%, Dow Jones -0.54%, Nasdaq -1.03%. Bearish factors included (1) a slide in energy producers after the price of crude plunged to a new 5-1/2 year low, and (2) trepidation and long liquidation pressures ahead of Q4 earnings season that officially started on Monday with Alcoa’s earnings report.
Mar 10-year T-notes (ZNH15 +0.16%) this morning are up +6.5 ticks at a 2-3/4 month high. Mar 10-year T-note futures prices on Monday posted a 2-3/4 month high and closed higher. Closes: TYH5 +15.50, FVH5 +9.00. Supportive factors included (1) the plunge in crude oil to a 5-1/2 year low, which dampens the outlook for inflation and spurs speculation the Fed may delay an interest rate increase, (2) strong foreign demand for the Treasury’s $24 billion 3-year T-note auction where indirect bidders, an investor class that includes foreign central banks, bought 45.8% of the T-notes at auction, the most since Aug 2011, and (3) increased safe-haven demand for Treasuries as stocks sold off.
The dollar index (DXY00 +0.28%)this morning is up +0.288 (+0.31%). EUR/USD (^EURUSD) is down -0.0043 (-0.36%). USD/JPY (^USDJPY) is up +0.31 (+0.26%). The dollar index on Monday closed higher: Dollar index +0.048 (+0.05%), EUR/USD -0.00053 (-0.04%), USD/JPY -0.093 (-0.08%). Supportive factors for the dollar included (1) weakness in EUR/USD on speculation the ECB will announce a QE program when it convenes next week, and (2) a slide in stocks, which boosted the safe-haven demand for the dollar.
Feb WTI crude oil (CLG15 -2.82%) this morning is down -$1.27 a barrel (-2.76%) at a fresh 5-1/2 year low and Feb gasoline (RBG15 -2.56%) is down -0.0325 (-2.55%) at a 5-3/4 year low. Feb crude oil and Feb gasoline on Monday closed sharply lower with Feb crude oil at a 5-1/2 year low and Feb gasoline at a 5-3/4 year low: CLG5 -2.29 (-4.74%), RBG5 -0.0487 (-3.66%). Bearish factors included (1) a stronger dollar, and (2) the action by Goldman Sachs to lower its price forecast for WTI crude to $41 per barrel in 3 months, citing excess U.S. storage capacity and the likelihood for U.S. inventories to increase in the first half of this year.
GLOBAL EVENT CALENDAR01/13/2015
US1000 ETNov JOLTS job openings expected 4.850 million, Oct 4.834 million.
1300 ETTreasury auctions $21 billion 10-year T-notes.
1400 ETDec monthly budget statement expected +$3.000 billion, Nov -$56.818 billion.
1700 ETMinneapolis Fed President Narayana Kocherlakota discusses his 2015 outlook for the economy and monetary policy at an event in New York.
JPN0000 ETJapan Dec eco-watchers survey current expected +2.5 to 44.0, Nov 41.5. Dec eco-watchers survey outlook, Nov 44.0.
GER0200 ETGerman Dec wholesale price index, Nov -0.7% m/m and -1.1% y/y.
UK0430 ETUK Dec CPI expected +0.1% m/m and +0.7% y/y, Nov -0.3% m/m and +1.0% y/y. Dec core CPI expected +1.3% y/y, Nov +1.2% y/y.
0430 ETUK Dec RPI expected +0.1% m/m and +1.6% y/y, Nov -0.2% m/m and +2.0% y/y. Dec RPI ex-mortgage interest payments expected +1.6% y/y, Nov +2.0% y/y.
0430 ETUK Dec PPI input prices expected -2.6% m/m and -11.6% y/y, Nov -1.0% m/m and -8.8% y/y
0430 ETUK Dec PPI output prices expected -0.3% m/m and -0.4% y/y, Nov +0.2% m/m and -0.1% y/y. Dec PPI output core expected -0.1% m/m and +1.2% y/y, Nov +0.5% m/m and +1.4% y/y.
0430 ETUK Nov ONS house prices expected +9.8% y/y, Oct +10.4% y/y.
U.S. STOCK CALENDAR01/13/2015
CompanyTickerTimeEvent DescriptionPeriodEstimate
IHS IncIHS US6:00Q4 2014 Earnings ReleaseQ4 20141.551
IHS IncIHS US8:00Q4 2014 Earnings CallQ4 2014
Monster Beverage CorpMNST US16:15Investor MeetingY 2015
CSX CorpCSX USAft-mktQ4 2014 Earnings ReleaseQ4 20140.49
Linear Technology CorpLLTC USAft-mktQ2 2015 Earnings ReleaseQ2 20150.491
GameStop CorpGME USDecember 2014 Sales and Revenue Release2014
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Tuesday, February 18, 2014

BARCHART MORNING CALL 2/18

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH14 +0.14%) this morning are down -0.08% and European stocks are down -0.42% after German Feb investor confidence slid more than forecast. Asian stocks closed mixed: Japan +3.13%, Hong Kong +0.23%, China -1.26%, Taiwan +0.43%, Australia +0.18%, Singapore +0.05%, South Korea +0.01%, India +0.83%. Japanese stocks surged over 3% after the BOJ boosted lending programs and pledged to continue easing, while Chinese stocks slumped on fears of PBOC tightening after the central bank drained funds from the financial system. The PBOC conducted a 48 billion yuan ($7.9 billion) of 14-day repurchase contracts, the first time since June that it drained money from the financial system. Commodity prices are mixed. Mar crude oil (CLH14 +0.88%) is up +0.87%. Mar gasoline (RBH14 +0.48%) is up +0.43%. Apr gold (GCJ14 -0.20%) is down -0.32%. March copper (HGH14 +0.37%) is up +0.38%. Agriculture prices are higher. The dollar index (DXY00 +0.03%) is up +0.01%. EUR/USD (^EURUSD) is up +0.16% at a 3-week high. USD/JPY (^USDJPY) is up +0.56% at a 2-week high after the yen weakened when the BOJ boosted lending programs. March T-note prices (ZNH14 +0.09%) are up +4.5 ticks.
The German Feb ZEW survey of expectations for economic growth fell -6.0 to 55.7, a bigger decline than expectations of -0.2 to 61.5. The Feb ZEW survey current situation rose +8.8 to 50. 0, better than expectations of +2.8 to 44.0 and the highest in 2-1/2 years.
The BOJ kept interest rates unchanged as expected, but doubled a lending program to 7 trillion yen ($68 billion) and said individual banks could borrow twice as much low-interest money as previously under a second lending facility. The BOJ also said the loan programs, which were scheduled to expire at the end of March, will be extended for another year.
Japan Q4 GDP rose +0.3% q/q and +1.0% q/q annualized, weaker than expectations of +0.7% q/q and +2.8% q/q annualized. The Q4 GDP deflator fell -0.4% y/y, a faster pace of decline than expectations of -0.2% y/y. Q4 GDP consumer spending rose +0.5% q/q, weaker than expectations of +0.8% q/q and Q4 GDP business spending rose +1.3% q/q, less than expectations of +1.8% q/q.
Eurozone Jan new car registrations rose +5.5% y/y, the fifth consecutive monthly increase.
UK Jan CPI fell -0.6% m/m and rose +1.9% y/y, slower than expectations of -0.5% m/m and +2.0% y/y, with the +1.9% y/y increase the slowest annual gain in 4-1/4 years. The Jan core CPI rose +1.6% y/y, slower than expectations of +1.9% y/y and the smallest increase in 4-1/2 years.
China Jan new yuan loans were +1320.0 billion yuan, more than expectations of +1100.0 billion yuan and the most in 4-years.
U.S. STOCK PREVIEW
Today’s Feb Empire manufacturing index is expected to show a -3.51 point decline to 9.00, reversing part of the +10.29 point increase to 12.51 seen in January. Today’s Feb NAHB housing market index is expected to be unchanged at 56, stabilizing after the -1 point decline to 56 seen in January. There are 12 of the S&P 500 companies that report earnings today: Genuine Parts (consensus 0.91), NiSource (0.47), Duke Energy (0.95), DENTSPLY International (0.61), Medtronic (0.91), Waste Management (0.61), Coca-Cola (0.46), Flowserver (1.05), Nabors Industries (0.20), Fluor (0.98), Analog Devices (0.49), CF Industries (4.41). Equity conferences during the remainder of this week include EnerCom Oil & Services Conference on Tue-Wed, Mitsubishi Tokyo Utility Conference on Tue-Wed, Consumer Analyst Group of New York Conference on Tue-Fri, and Barclays Industrial Select Conference on Wed-Thu.
OVERNIGHT U.S. STOCK MOVERS
Waste Management (WM +0.78%) reported Q4 adjusted EPS of 56 cents, below consensus of 61 cents.
Wolverine World Wide (WWW -0.60%) reported Q4 adjusted EPS of 22 cents, higher than consensus of 20 cents.
Kansas City Southern (KSU -2.60%) was downgraded to 'Neutral' from 'Overweight' at JPMorgan.
Weight Watchers (WTW -27.73%) was downgraded to 'Underweight' from 'Equal Weight' at Barclays.
The WSJ reports that Actavis (ACT +0.13%) is expected to buy Forest Labs (FRX +1.49%) for $89.48 a share in cash and stockin a deal valued at $25 billion.
Medtronic (MDT +0.49%) reported Q3 EPS of 91 cents, right on expectations.
Coca-Cola (KO +0.72%) reported Q4 EPS of 46 cents, right on expectations.
Duke Energy (DUK +0.03%) reported Q4 EPS of $1.00, better than consensus of 95 cents.
NiSource (NI +1.15%) reported Q$ EPS of 47 cents, right on expectations.
Moody's Investors Service has upgraded its outlook on Italy's Baa2 government bond rating to stable from negative.
MARKET COMMENTS
Mar E-mini S&Ps (ESH14 +0.14%) this morning are down -1.50 points (-0.08%). The S&P 500 on Friday fell back briefly after U.S. Jan industrial production unexpectedly fell -0.3%, weaker than expectations of +0.2% and the first decline in 6 months, but stocks recovered and pushed up to 3-week highs on speculation that recent weakness in U.S. economic data has been weather related. Stocks also received carry-over support from a rally in European equities after Eurozone Q4 GDP was revised higher. Closes: S&P 500 +0.48%, Dow Jones +0.79%, Nasdaq 100 +0.12%.
Mar 10-year T-notes (ZNH14 +0.09%) this morning are up +4.5 ticks. Mar 10-year T-note futures prices on Friday moved higher after U.S. Jan industrial production unexpectedly declined, but T-note prices fell back and closed lower after Dallas Fed President Fisher said he favors tapering QE at each Fed meeting unless he sees "something truly frightening" in the U.S. economy. Closes: TYH4 -3.50, FVH4 -2.75.
The dollar index (DXY00 +0.03%) this morning is up +0.008 (+0.01%). EUR/USD (^EURUSD) is up +0.0022 (+0.16%) to a 3-week high. USD/JPY (^USDJPY) is up +0.57 (+0.56%) to a 2-week high. The dollar index on Friday posted a 1-1/4 month low and closed lower on signs of a slowdown in the U.S. economy after U.S. Jan industrial production unexpectedly declined for the first time in 6-months. EUR/USD climbed to a 3-week high after Eurozone Q4 GDP was revised higher. Closes: Dollar index -0.187 (-0.23%), EUR/USD +0.00129 (+0.09%), USD/JPY -0.385 (-0.38%).
Mar WTI crude oil (CLH14 +0.88%) this morning is up +87 cents (+0.87%) and Mar gasoline (RBH14 +0.48%) is up +0.0121 (+0.43%). Mar crude and gasoline prices Friday settled mixed. A weak dollar boosted energy prices and Mar gasoline posted a 1-1/2 month high on concern that that shutdowns by refiners for seasonal maintenance will limit gasoline supplies. Crude prices fell back after U.S. Jan industrial production unexpectedly declined, a sign of weak energy demand. Closes: CLH4 -0.05 (-0.05%), RBH4 +0.0281 (+1.01%).
GLOBAL EVENT CALENDAR02/18/2014
US0830 ETFeb Empire manufacturing index expected -3.51 to 9.00, Jan +10.29 to 12.51.
1000 ETFeb NAHB housing market index expected unch at 56, Jan -1 to 56.
1100 ETUSDA weekly grain export inspections.
JPN0100 ETRevised Japan Jan machine tool orders.
2330 ETJapan Dec all-industry activity index expected +0.1% m/m, Nov +0.3% m/m.
n/aBOJ announces interest rate decision.
EUR0200 ETEurozone Jan new car registrations, Dec +13.3% y/y.
UK0430 ETUK Jan CPI expected -0.5% m/m and +2.0% y/y, Dec +0.4% m/m and +2.0% y/y. Jan core CPI, Dec +1.7% y/y.
0430 ETUK Jan RPI expected -0.4% m/m and +2.7% y/y, Dec +0.5% m/m and +2.7% y/y. Jan RPI ex mortgage interest payments, Dec +2.8% y/y.
0430 ETUK Jan PPI input prices expected +0.2% m/m and -2.3% y/y, Dec +0.1% m/m and -1.2% y/y.
0430 ETUK Jan PPI output prices expected unch m/m and +0.7% y/y, Dec unch m/m and +1.0% y/y. Jan PPI output core, Dec +0.1% m/m and +1.0% y/y.
GER0500 ETGerman Feb ZEW survey expectations of economic growth expected -0.2 to 61.5, Jan 61.7. Feb ZEW current situation expected +2.8 to 44.0, Jan 41.2.
U.S. STOCK CALENDAR02/18/2014
Company NameTickerTimeEvent DescriptionPeriodEstimate
Genuine Parts CoGPC USBef-mktQ4 2013 Earnings ReleaseQ4 20130.912
NiSource IncNI US6:30Q4 2013 Earnings ReleaseQ4 20130.465
Duke Energy CorpDUK US7:00Q4 2013 Earnings ReleaseQ4 20130.951
DENTSPLY International IncXRAY US7:00Q4 2013 Earnings ReleaseQ4 20130.61
Medtronic IncMDT US7:15Q3 2014 Earnings ReleaseQ3 20140.911
Waste Management IncWM US7:30Q4 2013 Earnings ReleaseQ4 20130.605
Coca-Cola Co/TheKO US7:30Q4 2013 Earnings ReleaseQ4 20130.463
Medtronic IncMDT US8:00Q3 2014 Earnings CallQ3 2014
DENTSPLY International IncXRAY US8:30Q4 2013 Earnings CallQ4 2013
NiSource IncNI US9:00Q4 2013 Earnings CallQ4 2013
Coca-Cola Co/TheKO US9:30Q4 2013 Earnings CallQ4 2013
Waste Management IncWM US10:00Q4 2013 Earnings CallQ4 2013
Duke Energy CorpDUK US10:00Q4 2013 Earnings CallQ4 2013
Genuine Parts CoGPC US11:00Q4 2013 Earnings CallQ4 2013
Analog Devices IncADI US17:00Q1 2014 Earnings CallQ1 2014
Flowserve CorpFLS USAft-mktQ4 2013 Earnings ReleaseQ4 20131.054
Nabors Industries LtdNBR USAft-mktQ4 2013 Earnings ReleaseQ4 20130.201
Fluor CorpFLR US17:30Q4 2013 Earnings CallQ4 2013
Fluor CorpFLR USAft-mktQ4 2013 Earnings ReleaseQ4 20130.983
Analog Devices IncADI USAft-mktQ1 2014 Earnings ReleaseQ1 20140.487
CF Industries Holdings IncCF USAft-mktQ4 2013 Earnings ReleaseQ4 20134.41
American Electric Power Co IncAEP USRoadshow - Japan - Day 2Y 2014
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Tuesday, May 7, 2013

Wolverine World Wide Barchart's Chart of the Day

Summary:

Wolverine World Wide (WWW) is the Chart of the Day.  The stock has 100% Technical buy signals as well as a Trend Spotter buy signal.  10 new highs for a 17.35% gain in the last month puts this at the top of the New High lists.


Article:

The Chart of the Day is Wolverine World Wide (WWW). I found it when I sorted the New High List for technical buy signals.  The stock has a 100% Technical buy signals as well as a Trend Spotter buy signal.  10 new highs and a gain of 17.35% in the last month result in a Relative Strength Index of 71.55%.

The Company designs, manufactures, distributes and markets various brands and styles of footwear. The wide variety of footwear sold by the Company includes casual shoes, slippers, moccasins, dress shoes, boots, uniform shoes and work boots and shoes. They are also a domestic tanner of pigskin.


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% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 17.35% in the last month
  • Relative Strength Index 71.55%
  • Barchart computes a technical support level at 49.34
  • Recently traded at 50.72 with a 50 day moving average of 45.21
Fundamental factors:
  • Market Cap $2.54 billion
  • P/E 20.50
  • Dividend yield .97%
  • Revenue projected to increase 66.70% this year and another 6.70% next year
  • Earnings forecasted to grow 16.60% this year, an additional 21.70% next year and continue to compound 16.30% annually for the next 5 years
  • Wall Street analysts issued 2 strong buy,  buy,. 5 hold and 1 strong sell recommendation
  • Financial Strength A
Sell if the stock drops below its 50 day moving average.
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