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Wednesday, February 25th, 2015View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 -0.15%) this morning are down -0.11% and European stocks are down -0.26% as the market consolidates Tuesday's rally that pushed the S&P 500 up to a record high and European stocks up to a 6-1/2 year high. Losses were negligible after a gauge of Chinese manufacturing activity unexpectedly expanded at the fastest pace in 4 months. Global bond markets rallied as the 10-year government bond yields in Spain, Italy, Portugal and Ireland all fell to record lows after Fed Chair Yellen yesterday made it clear that no Fed interest rate increase was imminent. Germany sold 3.28 billion euros of 5-year notes at an average yield of negative -0.08%, the lowest yield ever for 5-year debt in the Eurozone. Asian stocks closed mixed: Japan -0.10%, Hong Kong +0.11%, China -1.24%, Taiwan +0.73%, Australia +0.30%, Singapore +0.09%, South Korea +0.67%, India +0.01%. Commodity prices are mixed. Apr crude oil (CLJ15 +0.57%) is up +0.39% and Apr gasoline (RBJ15 +0.18%) is down -0.12%. Apr gold (GCJ15 +0.98%) is up +0.94%. Mar copper (HGH15 -0.08%) is down -0.13%. Agriculture prices are weaker. The dollar index (DXY00 -0.24%) is down -0.19%. EUR/USD (^EURUSD) is up +0.04%. USD/JPY (^USDJPY) is down -0.12%. GBP/USD is up +0.23% at a 1-3/4 month high against the dollar after BOE policy maker Weale said interest rate may need to rise earlier than markets expect. Mar T-note prices (ZNH15 +0.05%) are up +1.5 ticks at a 2-week high.The China Feb HSBC flash manufacturing PMI unexpectedly rose +0.4 to 50.1, stronger than expectations of -0.2 to 49.5 and the fastest pace of expansion in 4 months.
U.S. STOCK PREVIEW
Fed Chair Yellen today will present her semi-annual testimony before the House Financial Services Committee. Today’s Jan new home sales report is expected to show a small decline of -2.3% to 470,000, settling back after the +11.6% surge to the 6-1/2 year high of 481,000 seen in December. The Treasury today will sell $35 billion of 5-year T-notes and $13 billion of 2-year floating rate notes. There are 12 of the S&P 500 companies that report earnings today with notable reports including: Lowe's (consensus $0.44), Dollar Tree (1.14), Target (1.46), TJX (0.90), Transocean (0.75), and L Brands (1.80).Equity conferences during the remainder of this week include: JPMorgan High Yield & Leveraged Finance Conference on Mon-Wed, Credit Suisse Energy Summit on Tue-Wed, RBC Capital Markets Global Healthcare Conference on Tue-Wed, Robert W. Baird Business Solutions Conference on Tue-Wed, Wells Fargo Cyber Security Forum on Wed, Bank of America Merrill Lynch Global Agriculture Conference on Wed-Thu, Auerbach Grayson & Morgan Stanley's Inaugural Frontier Markets Conference on Thu, Gabelli & Company Pump, Valve & Water Systems Symposium on Thu, Gabelli & Company Inaugural Waste & Environmental Services Symposium on Fri.
OVERNIGHT U.S. STOCK MOVERS
Lowe's (LOW +1.25%) reported Q4 EPS of 46 cents, better than consensus of 44 cents.Masonite (DOOR -0.48%) reported Q4 EPS of 6 cents, less than consensus of 9 cents. Papa John's (PZZA -0.24%) slid 4% in after-hours trading after it reported reported Q4 EPS of 52 cents, better than consensus of 50 cents, but then lowered guidance on fiscal 2015 EPS to $1.98-$2.06, below consensus of $2.11. HealthSouth (HLS +0.15%) reported Q4 EPS with items of 41 cents, less than consensus of 48 cents, and then lowered guidance on fiscal 2015 EPS to $2.24-$2.29, below consensus of $2.44. Dycom (DY -1.79%) reported Q2 EPS of 27 cents, well above consensus of 10 cents. QEP Resources (QEP -0.62%) reported Q4 adjusted EPS of 22 cents, below consensus of 25 cents. Range Resources (RRC -0.21%) reported Q4 adjusted EPS of 39 cents, better than consensus of 28 cents. Alleghany (Y -0.63%) reported Q4 EPS of $8.61, higher than consensus of $8.36. Verisk Analytics (VRSK +0.16%) reported Q4 adjusted EPS of 65 cents, better than consensus of 63 cents. Matson (MATX +0.98%) reported Q4 EPS of 63 cents, above consensus of 58 cents. First Solar (FSLR +10.19%) reported Q4 GAAP EPS of $1.89, over double consensus of 76 cents. Chicago Bridge & Iron (CBI +2.18%) rose 3% in after-hours trading after it reported Q4 adjusted EPS of $1.47, better than consensus $1.44. Hewlett-Packard (HPQ +0.79%) dropped 7% in after-hours trading after it reported Q1 revenue of $26.8 billion, below consensus of $27.34 billion, and then lowered guidance on fiscal 2015 EPS view to $3.53-$3.73 from $3.83.-$4.03, well below consensus of $3.95. Edison International (EIX +0.26%) reported Q4 EPS of $1.08, well above consensus of 83 cents. Century Aluminum (CENX +0.45%) reported Q4 EPS of 63 cents, less than consensus of 64 cents.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 -0.15%) this morning are down -2.25 points (-0.11%). The S&P 500 index on Tuesday posted a new all-time high and closed higher: S&P 500 +0.28%, Dow Jones +0.51%, Nasdaq +0.03%. Bullish factors included (1) comments from Fed Chair Yellen that signaled an increase in interest rates was unlikely before mid-year as inflation and wage growth remain too low, and (2) carry-over support from a rally in European stocks after Eurozone finance ministers approved an extension of bailout funds to Greece. Strength is stocks was muted after the U.S. Feb consumer confidence (Conference Board) fell -7.4 to 96.4, weaker than expectations of -3.4 to 99.5.Mar 10-year T-notes (ZNH15 +0.05%) this morning are up +1.5 ticks at a 2-week high. Mar 10-year T-note futures prices on Tuesday closed higher. Closes: TYH5 +21.50, FVH5 +14.25. Bullish factors included (1) comments from Fed Chair Yellen who said the Fed will be “patient” on when to raise interest rates and that an increase is unlikely for “at least the next couple” of FOMC meetings, and (2) the weaker-than-expected U.S. Feb consumer confidence. The dollar index (DXY00 -0.24%) this morning is down -0.176 (-0.19%). EUR/USD (^EURUSD) is up +0.0005 (+0.04%). USD/JPY (^USDJPY) is down -0/14 (-0.12%). The dollar index on Tuesday posted a 2-week high but then fell back and closed lower: Dollar index -0.076 (-0.08%), EUR/USD +0.00056 (+0.05%), USD/JPY +0.15 (+0.13%). Negative factors included (1) comments from Fed Chair Yellen that signaled the Fed is in no hurry to raise interest rates, and (2) the weaker-than-expected U.S. Feb consumer confidence report. A bullish factor for the dollar was the rally in the S&P 500 to a record high that reduced the safe-haven demand for the yen and sent USD/JPY up to a 2-week high. Apr WTI crude oil (CLJ15 +0.57%) this morning is up +19 cents (+0.39%) and Apr gasoline (RBJ15 +0.18%) is down -0.0021 (-0.12%). Apr crude and Apr gasoline prices on Tuesday closed lower: CLJ5 -0.17 (-0.34%), RBJ5 -0.0207 (-1.13%). Bearish factors included (1) comments by an unnamed OPEC delegate that despite the plunge in oil prices, OPEC has had no concrete discussions about holding an emergency meeting, and (2) expectations for Wednesday’s weekly EIA data to show crude stockpiles increased by +4.0 million bbl.
GLOBAL EVENT CALENDAR02/25/2015
U.S. STOCK CALENDAR02/25/2015
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Wednesday, February 25, 2015
BARCHART MORNING CALL 2/25
Tuesday, February 24, 2015
Advanced Drainage Systems - Barchart's Chart of the Day
Advanced Drainage Systems (WMS) is the Barchart Chart of the Day. The PVC pipe manufacturer has a Trend Spotter buy signal, a Weighted Alpha of 75.60+ and gained 65.94% over the last year.
The Chart of the Day belongs to Advanced Drainage Systems (WMS). I found the stock by sorting the All Time High list for the stocks with the highest technical buy signals, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 12/26 the stock gained 15.47%.
Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
The Chart of the Day belongs to Advanced Drainage Systems (WMS). I found the stock by sorting the All Time High list for the stocks with the highest technical buy signals, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 12/26 the stock gained 15.47%.
Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications.
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 signals
- Above its 20, 50 and 100 day moving averages
- 3 new highs and up 6.82% in the last month
- Relative Strength Index 70.27%
- Barchart computes a technical support level at 26.37
- Recently traded at 26.80 with a 50 day moving average of 23.92
Fundamental factors:
- Market Cap $1.42 billion
- Dividend yield .62%
- Revenue expected to grow 7.60% this year and another 4.80% next year
- Earnings estimated to compound at an annual rate of 20.10% for the next 5 years
- Wall Street analysts issued 3 strong buy and 1 buy recommendation on the stock
The 20-50 Day MACD Oscillator has been a reliable technical trading strategy for this stock and should continue to be used to find entry and exit points.
The 5 Best Small Caps
Today I used Barchart to sort the S&P 600 Small Cap Index stocks for the best technical buy signals, then used the Flipchart feature to find the charts I liked.
Today's list includes Universal Forest Products (UFPI), Texas Roadhouse (TXRH), Resources Connections (RECN), Neogen (NEOG) and Monolithic Power Systems (MPWR):
Universal Forest Products (UFPI)
Today's list includes Universal Forest Products (UFPI), Texas Roadhouse (TXRH), Resources Connections (RECN), Neogen (NEOG) and Monolithic Power Systems (MPWR):
Universal Forest Products (UFPI)
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 7 new highs and up 8.71% in the last month
- Relative Strength Index 51.63%
- Barchart computes a technical support level at 51.63
- Recently traded at 54.14 with a 50 day moving average of 51.56
Texas Roadhouse (TXRH)
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 9.98% in the last month
- Relative Strength Index 71.38%
- Barchart computes a technical support level at 36.00
- Recently traded at 37.57 with 50 day moving average of 34.15
Resources Connections (RECN)
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 5.57% in the last month
- Relative Strength Index 68.83%
- Barchart computes a technical support level at 17.34
- Recently traded at 18.15 with a 50 day moving average of 48.18
Neogen (NEOG)
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 4 new highs and up 4.00% in the last month
- Relative Strength Index 64.13%
- Barchart computes a technical support level at 48.16
- Recently traded at 50.18 with a 50 day moving average of 48.18
Monolithic Power Systems (MPWR)
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 9.38% in the last month
- Relative Strength Index 70.81%
- Barchart computes a technical support level at 51.25
- Recently traded at 52.52 with a 50 day moving average of 48.58
BARCHART MORNING CALL 2/14
Tuesday, February 24th, 2015View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 unch) this morning are up +0.02% ahead of testimony from Fed Chair Yellen to U.S. lawmakers and European stocks are up +0.23% at a 6-1/2 year high on optimism Eurozone finance ministers will agree to Greece's list of debt-reduction policies. The markets will be watching for clues on the timing of a Fed interest rate hike when Fed Chair Yellen delivers her semi-annual monetary policy testimony later today before the Senate Banking Committee. Greece's ASE Stock Index soared over 7% to a 2-1/2 month high and the yield on Greece's 10-year bond fell to a 4-week low of 8.85% after a European Union source said that Greece's creditors; the European Commission, the ECB and the IMF were all satisfied with the reforms submitted by the Greek government in its bid for a bailout extension. Asian stocks closed mostly higher: Japan +0.74%, Hong Kong -0.35%, China closed for holiday, Taiwan +1.05%, Australia +0.32%, Singapore +0.48%, South Korea +0.19%, India +0.10%. Japan's Nikkei Stock Index posted a 14-3/4 year high, led by strength in exporters, after the yen fell to a 1-week low against the dollar. Commodity prices are mostly higher. Apr crude oil (CLJ15 +0.44%) is up +0.61% and Apr gasoline (RBJ15 +0.33%) is up +0.39%. Apr gold (GCJ15 -0.14%) is down -0.19%. Mar copper (HGH15 +0.25%) is up +0.25%. Agriculture prices are higher. The dollar index (DXY00 +0.16%) is up +0.18%. EUR/USD (^EURUSD) is down -0.11%. USD/JPY (^USDJPY) is up +0.61% at a 1-week high. Mar T-note prices (ZNH15 -0.10%) are down -4.5 ticks.Eurozone Jan CPI fell -1.6% m/m, right on expectations and the biggest monthly decline since the euro currency was introduced in 1999. The Jan CPI was left unrevised at -0.6% y/y and the Jan core CPI was also left unrevised at +0.6% y/y. The German Q4 GDP was left unrevised at +0.7% q/q and +1.6% y/y (nsa). Japan Jan PPI services rose +3.4% y/y, less than expectations of +3.6% y/y and the smallest pace of increase in 6 months.
U.S. STOCK PREVIEW
Fed Chair Yellen will present her semi-annual testimony today before the Senate Banking Committee and tomorrow before the House Financial Services Committee. Today’s Dec S&P/CaseShiller Composite-20 home price index is expected to show another solid increase of +0.60% m/m, which would be just slightly weaker than the Nov report of +0.74%. Today’s Feb U.S. consumer confidence index from the Conference Board is expected to show a -3.4 point decline to 99.5, giving back part of the +9.8 point surge to the 7-1/2 year high of 102.9 seen in January.There are 13 of the S&P 500 companies that report earnings today with notable reports including: Macy's (consensus $2.40), HP (0.91), Comcast (0.78), Home Depot (0.89), First Solar (0.77). Equity conferences during the remainder of this week include: JPMorgan High Yield & Leveraged Finance Conference on Mon-Wed, BMO Capital Markets Global Metals & Mining Conference on Mon-Tue, Cantor Fitzgerald 2nd Annual Internet and Technology Conference on Tue, Susquehanna Semi, Storage & Tech Summit on Tue, Credit Suisse Energy Summit on Tue-Wed, RBC Capital Markets Global Healthcare Conference on Tue-Wed, Robert W. Baird Business Solutions Conference on Tue-Wed, Wells Fargo Cyber Security Forum on Wed, Bank of America Merrill Lynch Global Agriculture Conference on Wed-Thu, Auerbach Grayson & Morgan Stanley's Inaugural Frontier Markets Conference on Thu, Gabelli & Company Pump, Valve & Water Systems Symposium on Thu, Gabelli & Company Inaugural Waste & Environmental Services Symposium on Fri.
OVERNIGHT U.S. STOCK MOVERS
Home Depot (HD +0.04%) reported Q4 EPS of $1.00, stronger than consensus of 89 cents.Comcast (CMCSA -0.50%) reported Q4 EPS of 77 cents, below consensus of 78 cents. Valspar (VAL -0.14%) reported Q1 adjusted EPS of 85 cents, more than consensus of 76 cents. Werner (WERN +0.25%) was upgraded to 'Buy' from 'Hold' at Deutsche Bank. Worthington (WOR -1.67%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse. Office Depot (ODP -0.53%) reported Q4 adjusted EPS of 7 cents, higher than consensus of 4 cents. First Solar (FSLR +1.26%) rose 9% and SunPower (SPWR -0.82%) jumped 11% in after-hours trading after both companies said they are in talks to form a joint venture called YieldCo. Alliant Energy (LNT +0.74%) reported Q4 adjusted EPS of 54 cents, less than consensus of 55 cents. Quad/Graphics (QUAD -1.46%) reported Q4 adjusted EPS of 96 cents, better than consensus of 94 cents. American Tower (AMT +0.83%) reported Q4 EPS of 42 cents, below consensus of 51 cents, and then lowered guidance on fuscal 2015 revenue to $4.25 billion-$4.33 billion, well below consensus of $4.62 billion. The Soros Fund reported a 9.95% passive stake in Oclaro (OCLR +1.99%) . Kaman (KAMN -1.31%) reported Q4 adjusted EPS of 76 cents, more than consensus of 70 cents. Dillard's (DDS +0.62%) reported Q4 EPS of $3.17, less than consensus of $3.18. Texas Roadhouse (TXRH +2.48%) gained almost 2% in after-hours trading after it reported Q4 EPS of 26 cents, right on consensus, although Q4 revenue of $404.43 million was higher than consensus of $399.63 million. Express Scripts (ESRX +0.74%) rose over 2% in after-hours trading after it reported Q4 EPS of 1.39, better than consensus of $1.38.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 unch) this morning are .up +0.50 of a point (+0.02%) The S&P 500 index on Monday closed slightly lower: S&P 500 -0.03%, Dow Jones -0.13%, Nasdaq +0.14%. Bearish factors included (1) the -4.9% decline in U.S. Jan existing home sales to 4.82 million, weaker than expectations of -1.8% to 4.95 million and the lowest level in 9 months, and (2) weakness in energy producers after crude oil prices fell to a 2-week low. Stocks recovered from their worst levels after health-care stocks rallied on increased M&A activity when Valeant Pharmaceuticals said it would purchase Salix Pharmaceuticals for $10.1 billion.Mar 10-year T-notes (ZNH15 -0.10%) this morning are down -4.5 ticks. Mar 10-year T-note futures prices on Monday closed higher. Closes: TYH5 +19.50, FVH5 +9.75. Bullish factors included (1) the larger-than-expected decline in U.S. Jan existing home sales to the lowest level in 9 months, and (2) speculation that Fed Chair Yellen will keep a dovish tilt to her comments when she delivers her semi-annual monetary policy testimony to the Senate Banking Committee Congress on Tuesday. The dollar index (DXY00 +0.16%) this morning is up +0.173 (+0.18%). EUR/USD (^EURUSD) is down -0.0012 (-0.11%). USD/JPY (^USDJPY) is up +0.72 (+0.61%) at a 1-week high. The dollar index on Monday posted a 1-week high and closed higher: Dollar index +0.316 (+0.34%), EUR/USD -0.00454 (-0.40%), USD/JPY -0.191 (-0.16%). Bullish factors included (1) short covering in the dollar ahead of Fed Chair Yellen’s semi-annual monetary policy testimony to Congress on Tuesday, and (2) the weaker-than-expected increase in the German Feb IFO business climate, which was negative for EUR/USD. Apr WTI crude oil (CLJ15 +0.44%) this morning is up +30 cents (+0.61%) and Apr gasoline (RBJ15 +0.33%) is up +0.0072 (+0.39%). Apr crude and Apr gasoline prices on Monday settled mixed with Apr crude at a 2-week low: CLJ5 -1.36 (-2.68%), RBJ5 +0.0018 (+0.10%). Bearish factors included (1) the rally in the dollar index to a 1-week high and (2) expectations for Wednesday’s weekly EIA data to show crude stockpiles increased by +3.75 million bbl. Gasoline closed higher due to the ongoing strike by the United Steelworkers union that represents more than 30,000 oil refinery workers and 13% of U.S. refining output, which will reduce gasoline and distillate production.
GLOBAL EVENT CALENDAR02/24/2015
U.S. STOCK CALENDAR02/24/2015
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Monday, February 23, 2015
Zs Pharma - Barchart's Chart of the Day
Zs Pharma (ZSPH) is the Barchart Chart of the Day. The biopharmaceutical company has a Trend Spotter buy signal, a Weighted Alpha of 78.70+ and gained 77.80% in the last year.
The Chart of the Day belongs to Zs Pharma (ZSPH). I found the stock by sorting the All Time High list for the stock with the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 1/23 the stock gained 10.15%.
Zs Pharma, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of non-absorbed drugs to treat renal, cardiovascular, liver and metabolic diseases. The Company is developing ZS-9, insoluble non-absorbed zirconium silicate that is in Phase III development for the treatment of hyperkalemia.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
The Chart of the Day belongs to Zs Pharma (ZSPH). I found the stock by sorting the All Time High list for the stock with the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 1/23 the stock gained 10.15%.
Zs Pharma, Inc. is a biopharmaceutical company. It is focused on the development and commercialization of non-absorbed drugs to treat renal, cardiovascular, liver and metabolic diseases. The Company is developing ZS-9, insoluble non-absorbed zirconium silicate that is in Phase III development for the treatment of hyperkalemia.
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
- 4 new highs and up 9.70% in the last month
- Relative Strength Index 67.78%
- Barchart computes a technical support level at 45.30
- Recently traded at 50.65 with a 50 day moving average of 44.46
Fundamental factors:
- Market Cap $1.05 billion
- Earnings estimated to increase by 29.70% next year
- Wall Street analysts issued 1 strong buy and 3 buy recommendations
- The individual investors polled on Motley Fool voted 6 to 1 that the stock will beat the market
The 100 day moving average vs price has been a dependable technical trading strategy for this stock and should continue to be used for entry and exit points.
The 5 Best Mid Caps
Today I used Barchart to sort the S&P 400 Mid Cap Index stocks for the best technical buy signals, then used the Flipchart feature to review the charts.
Today's list includes Wellcare Group (WCG), Wabtec (WAB), Synopsys (SNPS), John Wiley Sons (JW.A), JetBlue Airways (JBLU):
Wellcare Group (WCG)
Today's list includes Wellcare Group (WCG), Wabtec (WAB), Synopsys (SNPS), John Wiley Sons (JW.A), JetBlue Airways (JBLU):
Wellcare Group (WCG)
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 7 new highs and up 14.50% in the last month
- Relative Strength Index 75.36%
- Barchart computes a technical support level at 81.35%
- Recently traded at 89.30 with a 50 day moving average of 78.55
Wabtec (WAB)
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 11.91% in the last month
- Relative Strength Index 74.49%
- Barchart computes a technical support level at 92.04
- Recently traded at 95.1 with a 50 day moving average of 86.75
Synopsys (SNPS)
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 7.4% in the last month
- Relative Strength Index 72.84%
- Barchart computes a technical support level at 45.76
- Recently traded at 46.75 with a 50 day moving average of 43.60
John Wiley Sons (JW.A)
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 7 new highs and up 5.23% in the last month
- Relative Strength Index 70.40%
- Barchart computes a technical support level at 63.04
- Recently traded at 64.47 with a 50 day moving average of 60.22
JetBlue Airways (JBLU)
Barchart technical indicators
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 5 new highs and up 6.22% in the last month
- Relative Strength Index 66.37%
- Barchart computes a technical support level at 16.65
- Recently traded at 17.47 with a 50 day moving average of 15.84
BARCHART MORNING CALL 2/23
Monday, February 23rd, 2015View Older Reports
Everything you need to know about the markets in one free daily newsletter.
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 -0.20%) this morning are down -0.20% as they consolidate Friday's rally to an all-time high, while European stocks are up +0.26% at a 6-1/2 year high after Greece received a 4-month extension on its bailout. The Greek government has until the end of the day today to complete a list of policies in return for continued funding. The Eurozone finance ministers will then meet and decide whether the Greek policies go far enough or trigger another round of emergency negotiations this week. European stocks fell back from their best levels after the German Feb IFO business confidence rose less than expected. The extension of bailout funds to Greece also fueled a rally in Italian and Portuguese government bonds that sent their yields falling to record lows. Asian stocks closed mixed: Japan +0.73%, Australia +0.45%, Singapore -0.42%, South Korea +0.17%, India -0.88%, China and Taiwan closed for holiday. Japan's Nikkei Stock Index rose to a 14-3/4 year high as the positive news on a Greek debt deal lifted most global stocks. Commodity prices are mostly lower. Apr crude oil (CLJ15 -3.01%) is down -2.40% at a 1-week low and Apr gasoline (RBJ15 -0.91%) is down -0.85%. Apr gold (GCJ15 -0.79%) is down -0.87%. Mar copper (HGH15 -0.64%) is down -0.79%. Agriculture prices are mixed. The dollar index (DXY00 +0.52%) is up +0.56% at a 1-week high on speculation that Fed Chair Yellen's testimony to Congress tomorrow will be dollar supportive. EUR/USD (^EURUSD) is down -0.60%. USD/JPY (^USDJPY) is unchanged. Mar T-note prices (ZNH15 +0.12%) are up +3.5 ticks.The German Feb IFO business climate rose +0.1 to 106.8, less than expectations of +1.0 to 107.7 but still the highest in 7 months. The Feb IFO current assessment unexpectedly fell -0.4 to 111.3, weaker than expectations of +0.8 to 112.5. The Feb IFO expectations rose +0.5 to 102.5, less than expectations of +1.0 to 103.0.
The UK Feb CBI reported sales slumped -38 to 1, a much bigger decline than expectations of -4 to 35 and the lowest in 15 months.
U.S. STOCK PREVIEW
Today’s Jan existing home sales report is expected to show a decline of -1.8% to 4.95 million, giving back most of December’s +2.4% increase to 5.04 million. There are 3 of the S&P 500 companies that report earnings today: Tenet Healthcare (consensus $1.19), ONEOK (0.35), and Express Scripts (1.38).Equity conferences this week include: JPMorgan High Yield & Leveraged Finance Conference on Mon-Wed, BMO Capital Markets Global Metals & Mining Conference on Mon-Tue, Cantor Fitzgerald 2nd Annual Internet and Technology Conference on Tue, Susquehanna Semi, Storage & Tech Summit on Tue, Credit Suisse Energy Summit on Tue-Wed, RBC Capital Markets Global Healthcare Conference on Tue-Wed, Robert W. Baird Business Solutions Conference on Tue-Wed, Wells Fargo Cyber Security Forum on Wed, Bank of America Merrill Lynch Global Agriculture Conference on Wed-Thu, Auerbach Grayson & Morgan Stanley's Inaugural Frontier Markets Conference on Thu, Gabelli & Company Pump, Valve & Water Systems Symposium on Thu, Gabelli & Company Inaugural Waste & Environmental Services Symposium on Fri.
OVERNIGHT U.S. STOCK MOVERS
Precision Castparts (PCP +2.53%) was downgraded to 'Neutral' from 'Buy' at Goldman Sachs.Boeing (BA +2.97%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
Raytheon (RTN +0.75%) was upgraded to 'Buy' from 'Neutral' at Buckingham.
AerCap (AER +1.42%) reported Q4 adjusted EPS of $1.40, higher than consensus of $1.30.
Colgate-Palmolive (CL +0.04%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
CSX (CSX +0.06%) was initiated with an 'Overweight' at JPMorgan Chase with a price target of $41.
Penn National (PENN -1.80%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill Lynch.
Honda (HMC +0.42%) announced that Takanobu Ito is stepping down as president and CEO of Honda and Takahiro Hachigo, Honda's managing officer, will take over as president and CEO in June.
CyberArk (CYBR +9.44%) was downgraded to 'Underweight' from 'Neutral' at JPMorgan Chase.
LabCorp (LH +3.36%) was upgraded to 'Overweight' from 'Neutral' at Piper Jaffray.
Antofagasta (ANFGY +2.00%) was downgraded to 'Sell' from 'Neutral' at Goldman Sachs.
DirecTV (DTV +0.06%) was downgraded to 'Hold' from 'Buy' at Brean Capital.
Rio Tinto (RIO +0.67%) was downgraded to 'Neutral' from 'Buy' at UBS.
Exxon Mobil (XOM +0.54%) was awarded a $1.01 billion government contract for aviation turbine fuel.
MARKET COMMENTS
Mar E-mini S&Ps (ESH15 -0.20%) this morning are down -4.25 points (-0.20%). The S&P 500 index on Friday rose to a new all-time high and closed higher: S&P 500 +0.61%, Dow Jones +0.86%, Nasdaq +0.71%. Bullish factors included (1) optimism about a Eurozone agreement with Greece to keep bailout funds flowing to Greece, and (2) signs of strength in the U.S. economy after the U.S. Feb Markit manufacturing PMI unexpectedly rose +0.4 to 54.3, better than expectations of -0.3 to 53.6.Mar 10-year T-notes (ZNH15 +0.12%) this morning are up +3.5 ticks. Mar 10-year T-note futures prices on Friday closed lower. Closes: TYH5 -6.00, FVH5 -4.75. Bearish factors included (1) the unexpected increase in the Feb Markit manufacturing PMI, and (2) the rally in the S&P 500 to a new record high, which reduced safe-haven demand for Treasuries.
The dollar index (DXY00 +0.52%) this morning is up +0.529 (+0.56%) at a 1-week high. EUR/USD (^EURUSD) is down -0.0068 (-0.60%). USD/JPY (^USDJPY) is unchanged. The dollar index on Friday fell back from a 1-week high and closed lower: Dollar index -0.095 (-0.10%), EUR/USD +0.00087 (+0.08%), USD/JPY +0.026 (+0.02%). The main bearish factor was a rebound in EUR/USD, which recovered from a 1-week low and closed higher after Eurozone finance ministers reached a deal to extend bailout funds to Greece for four months in return for a commitment on budget targets. The dollar had risen to a 1-week high on bullish factors that included (1) the unexpected increase in the U.S. Feb Markit manufacturing PMI, and (2) early weakness in EUR/USD which fell to a 1-week low after the Eurozone Feb Markit manufacturing PMI was weaker than expected and German Jan producer prices fell more than expected.
Apr WTI crude oil (CLJ15 -3.01%) this morning is down -$1.22 a barrel (-2.40%) at a 1-week low and Apr gasoline (RBJ15 -0.91%) is down -0.0156 (-0.85%). Apr crude and Apr gasoline prices on Friday settled mixed: CLJ5 -1.02 (-1.97%), RBJ5 +0.0049 (+0.27%). The main bearish factor was ample supplies after Wednesday’s EIA data showed U.S. crude inventories at their highest level since weekly EIA data began in 1982. Gasoline closed higher on bullish factors that included (1) the ongoing strike by the United Steelworkers union that represents more than 30,000 oil refinery workers and 13% of U.S. refining output, which may reduce gasoline and distillate production, and (2) frigid weather in the U.S. Northeast that boosted demand for heating fuels and also shuttered two refineries in Pennsylvania because of the sub-zero cold.
GLOBAL EVENT CALENDAR02/23/2015
| US | 0830 ET | Jan Chicago national activity index expected +0.10 to 0.05, Dec -0.05. |
| 1000 ET | Jan existing home sales expected -1.8% to 4.95 million, Dec +2.4% to 5.04 million. | |
| 1030 ET | Feb Dallas Fed manufacturing outlook level of general business activity expected +0.4 to -4.0, Jan -7.9 to -4.4. | |
| 1100 ET | USDA weekly grain export inspections. | |
| GER | 0400 ET | German Feb IFO business climate expected +1.0 to 107.7, Jan 106.7. Feb IFO current assessment expected +0.8 to 112.5, Jan 111.7. Feb IFO expectations expected +1.0 to 103.0, Jan 102.0. |
| UK | 0600 ET | UK Feb CBI reported sales expected -4 to 35, Jan 39. |
| JPN | 1850 ET | Japan Jan PPI services expected +3.6% y/y, Dec +3.6% y/y. |
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