Monday, February 29, 2016

MORNING CALL 2/29

MORNING CALL

OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 -0.08%) are down -0.18% and European stocks are down -0.49% after G-20 finance ministers meeting over the weekend in Shanghai disappointed financial markets by not coming up with coordinated stimulus to support the global economy. Weakness in bank stocks is leading the overall market lower with Goldman Sachs and Bank of America both down at least 1.1% in pre-market trading. Stock prices recovered from their worst levels, however, after China cut its reserve requirement ratio for banks by 50 bp to 17.00% from 17.50%. Asian stocks settled mostly lower: Japan -1.00%, Hong Kong -1.30%, China -2.86%, Taiwan closed for holiday, Australia +0.02%, Singapore +0.65%, South Korea -0.25%, India -0.66%. China's Shanghai Composite fell to a 1-month low after G-20 officials failed to come up with a coordinated plan to boost global growth, while Japanese stocks also fell after the yen rallied against the dollar, which undercut exporter stocks.
The dollar index (DXY00 +0.15%) is up +0.17% at a 3-week high. EUR/USD (^EURUSD) is down -0.41% at a 4-week high after Eurozone CPI unexpectedly fell at the fastest pace in a year, which bolsters the case for the ECB to expand stimulus when it convenes next week. USD/JPY (^USDJPY) is down -0.95%.
Mar T-note prices (ZNH16 +0.04%) are up +3.5 ticks on carryover support from a rally in German bunds to a 10-1/4 month high after Eurozone Feb CPI unexpectedly fell by the most in a year.
After Chinese financial markets closed today, the PBOC cut the required reserve ratio for China's biggest banks by 50 bp to 17.00% from 17.50%, effective March 1.
Eurozone Feb CPI unexpectedly fell -0.2% y/y, weaker than expectations of unch y/y and the fastest pace of decline in a year. Feb core CPI rose +0.7% y/y, weaker than expectations of +0.9% y/y and the smallest increase in 10 months.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Feb Milwaukee ISM (expected -0.36 to 50.00, Jan +1.83 to 50.36), (2) Feb Chicago PMI (expected -3.1 to 52.5, Jan +12.7 to 55.6), (3) Jan pending home sales (expected +0.5% m/m and +4.1% y/y, Dec +0.1% m/m and +3.1% y/y), (4) Feb Dallas Fed manufacturing activity (expected +4.6 to -30.0, Jan -13.0 to -34.6), (5) New York Fed President William Dudley's speech at a symposium in Hangzhou, China co-hosted by the PBOC and the New York Fed, and (6) USDA weekly grain export inspections.
There are 2 of the S&P 500 companies that report earnings today: NRG Energy (consensus $0.18), Endo Intl (1.27).
U.S. IPO's scheduled to price today: Shimmick Construction (SCCI).
Equity conferences this week include: BMO Capital Markets Global Metals and Mining Conference on Mon-Tue, J.P. Morgan Global High Yield & Leveraged Finance Conference on Mon-Tue, Morgan Stanley Technology Media & Technology Conference on Mon-Thu, Barclays Power & Utility Credit Conference on Tue, Goldman Sachs Media & Telecom Conference on Tue, Canaccord Genuity Musculoskeletal Conference on Tue, JMP Securities Technology Conference on Tue, Longbow Research Basic Materials Investor Conference on Tue, Pacific Crest Securities Emerging Technology Summit on Tue-Wed, UBS Natural Gas & Electric Utilities Conference on Wed, Bank of America Merrill Lynch Global Agriculture and Chemicals Conference on Wed-Thu, Bank of America Refining Conference on Thu, Citi Asset Management, Broker Dealer & Exchanges Investor Conference on Thu, Gabelli & Company Waste & Environmental Services Conference on Thu, Simmons Energy Conference on Thu-Fri.


OVERNIGHT U.S. STOCK MOVERS
Morgan Stanley (MS +2.15%) and Goldman Sachs (GS +1.35%) are both down at least 1% in pre-market trading.
Valeant Pharmaceuticals (VRX -4.79%) slumped 7% in pre-market trading after the company withdrew its financial forecast and delayed releasing its quarterly results as its CEO returns from leave.
Federal-Mogul Holdings (FDML +12.93%) may be active today after Carl Icahn, the company's biggest shareholder, offered to buy the rest of the company for $7 a share, well above Friday's closing price of $4.98.
General Motors (GM +0.44%) was downgraded to 'Hold' from 'Buy at Argus Research.
Dillard's (DDS +3.73%) was downgraded to 'Sell' from 'Hold' at Deutsche Bank.
Southwestern Energy (SWN -5.76%) was downgraded to 'Underperform' from 'Market Perform' at Raymond James.
Dynegy (DYN +3.06%) was upgraded to 'Buy' from 'Neutral' at Guggenheim with a price target of $22.
FormFactor (FORM +1.64%) said it sees Q1 revenue of $65 million-$70 million, below consensus of $70.3 million.
Cleco (CNL -1.03%) reported Q4 operating EPS of 38 cents, below consensus of 42 cents.
New Jersey Resources (NJR -2.58%) will replace StanCorp in the S&P MidCap 400 as of the close of trading on Monday, March 7.
Business Insider reports that Bank of America (BAC +3.08%) is preparing for "significant" job cuts of over 5% across its global investment banking and markets business.
Atlas Resource Partners LP (ARP -5.63%) was downgraded to 'Sell' from 'Hold' at Stifel.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 -0.08%) this morning are down -3.50 points (-0.18%). Friday's closes: S&P 500 -0.19%, Dow Jones -0.34%, Nasdaq -0.13%. The S&P 500 on Friday fell back from a 1-1/2 month high and closed lower on concern the Fed may continue to raise interest rates after the U.S. Jan PCE core deflator rose +0.3% m/m and +1.7% y/y, stronger than expectations of +0.2% m/m and +1.5% y/y. Stocks received support from the +0.95% rally in the Shanghai Composite after the PBOC said it sees room for further monetary easing and from the +0.5% increase in U.S. Jan personal spending, stronger than expectations of +0.3% and the biggest increase in 8 months.
Mar 10-year T-notes (ZNH16 +0.04%) this morning are up +3.5 ticks. Friday's closes: TYH6 -23.00, FVH6 -16.25. Mar T-notes on Friday closed lower on the stronger-than-expected Jan personal spending and income reports and on the +1.7% y/y increase in the U.S. Jan PCE core deflator, stronger than expectations of +1.5% y/y and the largest increase in nearly 3 years.
The dollar index (DXY00 +0.15%) this morning is up +0.171 (+0.17%) at a 3-weeek high. EUR/USD (^EURUSD) is down -0.0045 (-0.41%) at a 4-week low. USD/JPY (^USDJPY) is down -1.08 (-0.95%). Friday's closes: Dollar Index +0.861 (+0.89%), EUR/USD -0.0084 (-0.76%), USD/JPY +1.00 (+0.88%). The dollar index on Friday climbed to a 3-week high and settled higher on the stronger-than-expected U.S. Q4 GDP and Jan personal spending and income reports, which bolster confidence in the U.S. economic outlook. In addition, EUR/USD slid to a 3-week low after German Feb CPI fell-0.2% y/y, weaker than expectations of unch y/y and the fastest pace of decline in 13 months, which supports the case for the ECB to expand stimulus.
Apr WTI crude (CLJ16 +0.49%) this morning is down -4 cents (-0.12%) and Apr gasoline (RBJ16 -0.32%) is down -0.0093 (-0.72%). Friday's closes: CLJ6-0.29 (-0.88%), RBJ6 -0.0171 (-1.30%). Apr crude and gasoline on Friday fell back from 3-week highs and closed lower on the rally in the dollar index to a 3-week high and the ongoing crude oil supply glut with EIA crude inventories at a record high. A bullish factor for crude was the late-Friday report from Baker Hughes that the active U.S. oil rig count fell -13 to 400 in the week ended Feb 26, the 10th straight decline and the fewest number of active rigs in 6 years.
GLOBAL EVENT CALENDAR02/29/2016
US0900 ETFeb Milwaukee ISM expected -0.36 to 50.00, Jan +1.83 to 50.36.
0945 ETFeb Chicago PMI expected -3.1 to 52.5, Jan +12.7 to 55.6.
1000 ETJan pending home sales expected +0.5% m/m and +4.1% y/y, Dec +0.1% m/m and +3.1% y/y.
1030 ETFeb Dallas Fed manufacturing activity expected +4.6 to -30.0, Jan -13.0 to -34.6.
1100 ETUSDA weekly grain export inspections.
2330 ETNew York Fed President William Dudley speaks at a symposium in Hangzhou, China co-hosted by the PBOC and the New York Fed.
JPN0000 ETJapan Jan housing starts expected -0.3% y/y to 870,000 annualized, Dec -1.3% y/y to 860,000 annualized.
0000 ETJapan Jan construction orders, Dec +14.8% y/y.
1830 ETJapan Jan jobless rate expected unch at 3.3%. Jan job-to-applicant ratio expected unch at 1.27.
1830 ETJapan Jan overall household spending expected -2.7% y/y, Dec -4.4% y/y
1850 ETJapan Q4 capital spending expected +10.0% y/y, Q3 +11.2% y/y. Q4 capital spending ex-software expected +8.7% y/y, Q3 +11.2% y/y.
2100 ETRevised Japan Feb Nikkei manufacturing PMI.
GER0200 ETGerman Jan import price index expected -1.0% m/m and -3.4% y/y, Dec -1.2% m/m and -3.1% y/y.
0200 ETGerman Jan retail sales expected +0.3% m/m and +1.8% y/y, Dec +0.6% m/m and +1.5% y/y.
UK0430 ETUK Jan net consumer credit expected +1.4 billion pounds, Dec +1.2 billion pounds.
0430 ETUK Jan M4 money supply, Dec -0.2% m/m and +0.2% y/y.
0430 ETUK Jan mortgage approvals expected 73,700, Dec 70,800.
EUR0500 ETEurozone Feb CPI estimate expected unch y/y, Jan +0.3% y/y. Feb core CPI expected +0.9% y/y, Jan +1.0% y/y.
CHI2000 ETChina Feb manufacturing PMI expected unch at 49.4, Jan -0.3 to 49.4. Feb non-manufacturing PMI, Jan 53.5.
U.S. STOCK CALENDAR02/29/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Endo International PLCENDP USBef-mktQ4 2015 Earnings ReleaseQ4 20151.274
Golar LNG LtdGLNG USBef-mktY 2015 Earnings ReleaseY 2015-1.561
NRG Energy IncNRG USBef-mktQ4 2015 Earnings ReleaseQ4 20150.181
Tribune Media CoTRCO USBef-mktQ4 2015 Earnings ReleaseQ4 20150.549
Frank's International NVFI USBef-mktQ4 2015 Earnings ReleaseQ4 20150.103
Platform Specialty Products CorpPAH USBef-mktQ4 2015 Earnings ReleaseQ4 20150.11
NRG Energy IncNRG US7:30Q4 2015 Earnings CallQ4 2015
Endo International PLCENDP US8:30Q4 2015 Earnings CallQ4 2015
Tribune Media CoTRCO US8:30Q4 2015 Earnings CallQ4 2015
Platform Specialty Products CorpPAH US8:30Q4 2015 Earnings CallQ4 2015
Golar LNG LtdGLNG US10:00Y 2015 Earnings CallY 2015
Frank's International NVFI US11:00Q4 2015 Earnings CallQ4 2015
OPKO Health IncOPK US16:30Q4 2015 Earnings CallQ4 2015
TerraForm Power IncTERP US16:30Q4 2015 Earnings CallQ4 2015
Workday IncWDAY US17:00Q4 2016 Earnings CallQ4 2016
Juno Therapeutics IncJUNO US17:00Q4 2015 Earnings CallQ4 2015
California Resources CorpCRC US17:00Q4 2015 Earnings CallQ4 2015
Atmel CorpATML USAft-mktQ4 2015 Earnings ReleaseQ4 20150.063
OPKO Health IncOPK USAft-mktQ4 2015 Earnings ReleaseQ4 20150
Hertz Global Holdings IncHTZ USAft-mktQ4 2015 Earnings ReleaseQ4 20150.039
Intrexon CorpXON USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.187
Workday IncWDAY USAft-mktQ4 2016 Earnings ReleaseQ4 2016-0.045
Brixmor Property Group IncBRX USAft-mktQ4 2015 Earnings ReleaseQ4 20150.511
Juno Therapeutics IncJUNO USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.434
California Resources CorpCRC USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.254
Intrexon CorpXON US17:30Q4 2015 Earnings CallQ4 2015
Orbital ATK IncOA USQ4 2015 Earnings ReleaseQ4 20151.106
Equifax IncEFX USInvestor Meeting - Los AngelesY 2016
Howard Hughes Corp/TheHHC USQ4 2015 Earnings ReleaseQ4 20150.385
Puma Biotechnology IncPBYI USQ4 2015 Earnings ReleaseQ4 2015-1.846
TerraForm Power IncTERP US23:59Q4 2015 Earnings ReleaseQ4 2015-0.206
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5 Great Low Priced Stocks

As I write this post the market seems to have found a bottom but I can't really say it has began a recovery.  Although 74.61% of the 10,000+ stocks in the Barchart database are trading above their 20 Day Moving Averages only 48.47% are trading above their 50 DMAs.  I like it when the market is trading above its 20, 50 and 100 DMAs but we are not there yet.

Today list are some of the stocks I added recently to the Barchart Van Meerten Speculative portfolio.  For this portfolio I use Barchart to screen the Russell 3000 Index stocks first for a price under $10, technical buy signals of 80%+ and then I use the Flipchart feature to review the charts for consistency.  Today's additions include:
Vince Holdings (VNCE), Oclaro (OCLR), Century Aluminum (CENX), Orasure Technologies (OSUR) and Groupon (GRPN).

Vince Holdings (VNCE)


Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 30.37% in the last month
  • Relative Strength Index 66.76%
  • Technical support level at 5.84
  • Recently traded at 6.31 with a 50 day moving average of 4.79
Oclaro (OCLR)


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 44.41% in the last month
  • Relative Strength Index 75.53%
  • Technical support level at 4.73
  • Recently traded at .91 with a 50 day moving average of 3.82


Barchart techncial indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 94.54% in the last month
  • Relative Strength Index 66.66%
  • Technical support level at 6.21
  • Recently traded at 6.77 with a 50 day moving average of 4.35


Barchart technical indicators:
  • 88% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 3 new highs and up 17.61% in the last month
  • Relative Strength Index 65.12%
  • Technical support level at 6.67
  • Recently traded at 6.68 with a 50 day moving average of 6.16
Groupon (GRPN)


Barchart technical indicators:
  • 80% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 5 new highs and up 61.51% in the last month
  • Relative Strength Index 73.12%
  • Technical support level at 4.06
  • Recently traded at 4.49 with a 50 day moving average of 3.02








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Friday, February 26, 2016

National Storage Affiliates - Chart of the day

National Storage Affiliates (NSA) is the Barchart Chart of the Day.  The self storage unit REIT has a Trend Spotter buy signal, a Weighted Alpha of 46.80+, gained 39.77% in the last year and paid a 4.62% dividend.

The Chart of the Day belongs to National Storage Affiliates (NSA).  I found the self storage unit REIT by using Barchart to sort today's All Time High list first by technical buy signals, then I used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 2/24 the stock gained 4.91%.

National Storage Affiliates Trust is a real estate investment trust. The company is focused on the ownership, operation and acquisition of self-storage properties primarily in the United States. National Storage Affiliates Trust is based in Houston, United States.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

 Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 4 new highs and up 5.64% in the last month
  • Relative Strength Index 66.60%
  • Technical support level at 17.76
  • Recently traded at 18.17 with a 50 day moving average of 16.92
Fundamental factors:
  • Market Cap $418.27 million
  • Dividend yield 4.62%
  • Revenue expected to grow 28.40% next year
  • Earnings estimated to increase 14.30% next year and continue to compound 4.00% a year for the next 5 years
  • Wall Street analysts issued 1 strong buy, 1 buy and 3 hold recommendations on the stock
Although the Price vs, the 100 Day moving average as been a reliable technical trading strategy on this stock you might want to consider holding it and putting it on a DRIP .
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Thursday, February 25, 2016

Texas Roadhouse - Chart of the Day

Texas Roadhouse (TXRH) is the Barchart Chart of the Day.  The steak house chain has a Trend Spotter buy signal, a Weighted Alpha of 20.30+, and gained 12.64% in the last year.

The Chart of the Day belongs to Texas Roadhouse (TXRH).  I found the steak house stock by using Barchart to sort today's All Time High list first for the highest technical buy signal then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 1/14 the stock gained 16.88%.

Texas Roadhouse is a growing, moderately priced, full service restaurant chain. They offer an assortment of specially seasoned and aged steaks hand-cut daily in every restaurant and cooked to order over open gas-fired grills. They also offer their customers, whom they call their guests, a selection of ribs, fish, chicken and vegetable plates, an assortment of hamburgers, salads and sandwiches.


The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 21.00% in the last month
  • Relative Strength Index 76.04%
  • Technical support level at 40.46
  • Recently traded at 42.23 with a 50 day moving average of 36.11
Fundamental factors:
  • Market Cap $2.96 billion
  • P/E 30.40
  • Dividend yield 1.63%
  • Revenue expected to grow 11.60% this year and another 10.2% next year
  • Earnings estimated to increase 24.50% this year, an additional 15.80% next year and continue to compound at an annual rate of 14.98% for the next 5 years
  • Wall Street analysts issued 5 strong buy, 1 buy, 9 hold and 1 strong sell recommendation on the issue.
The 50-100 Day MACD Oscillator has been a reliable technical trading strategy for this stock.
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The 5 Best S&P 500 Large Caps

This morning I used Barchart to sort the S&P 500 Large Cap Index stocks first for the highest technical buy signals, then I used the Flipchart feature to review the charts for consistency of the upward momentum.  The list today includes:

Reynolds American (RAI), Eversource Energy (ES), Baxter International (BAX), XCEL Energy (XEL) and Waste Management (WM).

Reynolds American (RAI)


Barchart technical indicators:
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 10.04% in the last month
  • Relative Strength Index 67.70%
  • Technical support level at 49.59
  • Recently traded at 51.03 with a 50 day moving average of 47.31


Barchart technical indicators:
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 10 day moving averages
  • 10 new highs and up 9.02% in the last month
  • Relative Strength Index 67.04%
  • Technical support level at 55.14
  • Recently traded at 56.57 with a 50 day moving average of 52.46


Barchart technical indicators:
  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 9 new highs and up 8.04% in the last month
  • Relative Strength Index 61.79%
  • Technical support level at 37.35
  • Recently traded at 38.99 with a 50 day moving average of 36.96


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 8.95% in the last month
  • Relative Strength Index 67.30%
  • Technical support level at 39.20
  • Recently traded at 40.20 with a 50 day moving average of 37.28

Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 5.87% in the last month
  • Relative Strength Index 66.83%
  • Recently traded at 56.37 with a 50 day moving average of 53.24








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MORNING CALL 2/25

MORNING CALL
OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH16 +0.14%) are little changed, up +0.13%. Crude oil prices are down -0.47%, which has drug energy producers and service companies lower with Transocean Ltd. and Kinder Morgan both down at last 1.2% in pre-market trading. Also, a -6.41% plunge in China's Shanghai Composite to a 1-week low undercut stocks after a surge in money-market rates indicated tighter liquidity as China's overnight repurchase rate climbed 14 bp to 2.11%, the largest increase in almost 3 weeks. European stocks are up +1.81% after the Eurozone Jan CPI was revised lower, which bolsters the case for the ECB to expand stimulus when it meets next month. Asian stocks settled mixed: Japan +1.41%, Hong Kong -1.58%, China -6.41%, Taiwan +1.00%, Australia +0.13%, Singapore -0.63%, South Korea +0.20%, India -0.49%. U.S Treasury Secretary Lew said that G-20 finance ministers won't deliver an "emergency response" to the recent market turmoil when they meet in Shanghai for a 2-day meeting Friday and Saturday as we aren't in a crisis environment.
The dollar index (DXY00 -0.15%) is down -0.05%. EUR/USD (^EURUSD) is up +0.15%. USD/JPY (^USDJPY) is up +0.20%.
Mar T-note prices (ZNH16 +0.07%) are up +3 ticks.
St. Louis Fed President Bullard said there's "too much talk about negative interest rates" and that he doesn’t see recession risk rising in the U.S. He added, that the U.S Jan CPI report was "hot" and that he expects inflation expectations to stabilize.
The Eurozone Jan CPI was revised downward to +0.3% y/y from the originally reported +0.4% y/y. The Jan core CPI was left unchanged at +1.0% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Atlanta Fed President Dennis Lockhart's opening remarks at the Atlanta Fed’s 2016 Banking Outlook Conference, (2) weekly initial unemployment claims (expected +8,000 to 270,000, previous -7,000 to 262,000) and continuing claims (expected -20,000 to 2.253 million, previous +30,000 to 2.273 million), (3) Jan durable goods orders (expected +2.7% and +0.3% ex transportation, Dec -5.0% and -1.0% ex transportation), (4) Dec FHFA house price index (expected +0.5% m/m, Nov +0.5% m/m), (5) Feb Kansas City Fed manufacturing activity (expected +3 to -6, Jan unch at-9), (6) San Francisco Fed President John Williams' speech at NYU Stern Business School, and (7) the Treasury's auction of $28 billion of 7-year T-notes.
There are 19 of the S&P 500 companies that report earnings today with notable reports including: Best Buy (consensus $1.39), Kohl's (1.55), Gap (0.57), Kraft (0.58), Monster Beverage (0.82), Patterson Cos (0.67), Apache (-0.49), Autodesk (0.12), Intuit (0.19).
U.S. IPO's scheduled to price today: none.
Equity conferences during the remainder of this week include: IHS Energy CERAWeek Conference on Tue-Thu, Cantor Fitzgerald Internet & Technology Conference on Thu, Gabelli & Company Pump, Valve and Water Systems Symposium on Thu.





OVERNIGHT U.S. STOCK MOVERS
Salesforce.com (CRM -0.60%) jumped over 9% in pre-market trading after it said it sees Q1 adjusted EPS of 23 cents-24 cents, above consensus of 21 cents, and raised guidance on fiscal 2017 adjusted EPS to 99 cents-$1.01, higher than consensus of 99 cents.
Best Buy (BBY +1.78%) dropped over 3% in pre-market trading after it said it sees Q1 ajusted EPS of 31 cents-35 cents, below consensus of 39 cents.
Charter Communications (CHTR +0.80%) was upgraded to 'Overweight' from 'Neutral' at JPMorgan Chase with a 12-month price target of $210.
Kohl's (KSS +1.16%) reported Q4 EPS of $1.58, higher than consensus of $1.55.
Bankrate (RATE +2.51%) was downgraded to 'Hold' from 'Buy' at Topeka Capital Markets.
Imax Corporation (IMAX +2.39%) fell over 7% in after-hours trading after it reported Q4 EPS of 39 cents, below consensus of 42 cents.
La Quinta Holdings (LQ +1.88%) lost over 3% in after-hours trading after it said it sees 2016 pro forma adjusted Ebitda of $367 million-$384 million versus $394 million y/y.
Relypsa (RLYP -2.39%) slumped over 10% in after-hours trading after it reported a Q4 adjusted EPS loss of -$1.40, a wider loss than consensus of -$1.35.
AmSurg (AMSG -0.01%) climbed nearly 5% in after-hours trading after it reported Q4 adjusted EPS of $1.07, higher than consensus of $1.04.
Restoration Hardware (RH +1.29%) plunged over 20% in pre-market trading after it reported preliminary Q4 adjusted EPS of 99 cents, well below consensus of $1.40.
Andarko Petroleum (APC +2.58%) rose nearly 7% in after-hours trading after it sold its Springfield Pipeline LLC to Western Gas Partners for $750 million.
Malibu Boats (MBUU +2.41%) was rated a new 'Buy' at B. Riley with a 12-month price target of $22.
Diamond Resorts International (DRII -1.60%) jumped 17% in after-hours trading after it said it hired Centerview Partners to explore a wide range of strategic options to maximize shareholder value.
MARKET COMMENTS
Mar E-mini S&Ps (ESH16 +0.14%) this morning are up +2.50 points (+0.13%). Wednesday's closes: S&P 500 +0.44%, Dow Jones +0.32%, Nasdaq +0.92%. The S&P 500 on Wednesday recovered from a 1-week low and closed higher on a rebound in crude oil that boosted energy producer stocks and on Richmond Fed President Lacker's comment that there is "no evidence" that a U.S. recession is imminent. Stocks were undercut by the -9.2% decline in U.S. Jan new home sales to 494,000 (weaker than expectations of -4.4% to 520,000) and the unexpected -3.4 point decline in the U.S. Feb Markit services PMI to a 2-1/3 year low of 49.8 (weaker than expectations of +0.3 to 53.5).
Mar 10-year T-notes (ZNH16 +0.07%) this morning are up +3 ticks. Wednesday's closes: TYH6 +2.00, FVH6 +1.25. Mar T-notes on Wednesday climbed to a 1-week high and closed higher on U.S. economic concerns after the weak Jan new home sales and Feb Markit services PMI reports.
The dollar index (DXY00 -0.15%) this morning is down -0.044 (-0.05%). EUR/USD (^EURUSD) is up +0.0016 (+0.15%). USD/JPY (^USDJPY) is up +0.22 (+0.20%). Wednesday's closes: Dollar Index -0.023 (-0.02%), EUR/USD -0.0007 (-0.06%), USD/JPY +0.08 (+0.07%). The dollar index on Wednesday fell back from a 3-week high and closed lower on the weaker-than-expected U.S. Jan new home sales and Feb Markit services PMI reports. The dollar was also undercut by strength in the energy-exporting currencies of Canada and Russia after crude oil erased early declines and closed higher. The dollar index found underlying support from Richmond Fed President Lacker's comment that there is "no evidence" that a U.S. recession is imminent, which "bolsters the case for raising the federal funds rate target."
Apr WTI crude (CLJ16 -0.25%) this morning is down -15 cents (-0.47%) and Apr gasoline (RBJ16 -0.39%) is down -0.0104 (-0.82%). Wednesday's closes: CLJ6 +0.28 (+0.88%), RBJ6 +0.0561 (+4.60%). Apr crude oil and gasoline on Wednesday closed higher on the -0.4% decline in U.S. crude oil production in the week of Feb 19 to a 4-month low of 9.102 million bpd and the -2.2 million bbl drop in EIA gasoline stockpiles (vs expectations of -1.0 million bbls). Crude oil prices were undercut by the +3.5 million bbl increase in EIA crude inventories to a record high of 507.6 million bbl and by the +333,000 bbl increase in crude supplies at Cushing, OK, delivery point of WTI futures, to a record high 65.066 million bbl.
GLOBAL EVENT CALENDAR02/25/2016
US0815 ETAtlanta Fed President Dennis Lockhart delivers welcoming and opening remarks at the Atlanta Feds 2016 Banking Outlook Conference.
0830 ETWeekly initial unemployment claims expected +8,000 to 270,000, previous -7,000 to 262,000. Weekly continuing claims expected -20,000 to 2.253 million, previous +30,000 to 2.273 million.
0830 ETJan durable goods orders expected +2.7% and +0.3% ex transportation, Dec -5.0% and -1.0% ex transportation. Jan capital goods new orders ex-aircraft & parts expected +1.0%, Dec -4.3%.
0830 ETUSDA weekly Export Sales.
0900 ETDec FHFA house price index expected +0.5% m/m, Nov +0.5% m/m.
1100 ETFeb Kansas City Fed manufacturing activity expected +3 to -6, Jan unch at -9.
1200 ETSan Francisco Fed President John Williams speaks at NYU Stern Business School.
1300 ETTreasury auctions $28 billion of 7-year T-notes.
GER0200 ETRevised German Jan CPI (EU harmonized), previous -1.0% m/m and +0.4% y/y.
0200 ETGerman Mar GfK consumer confidence expected -0.1 to 9.3, Feb 9.4.
EUR0400 ETEurozone Jan M3 money supply expected +4.7% y/y, Dec +4.7% y/y.
0500 ETRevised Eurozone Jan CPI, previous +0.2% y/y. Revised Jan core CPI, previous +1.0% y/y
UK0430 ETRevised UK Q4 GDP, previous +0.5% q/q and +1.9% y/y.
0430 ETUK Dec index of services expected +0.3% m/m and +0.7% 3-mo/3-mo, Nov +0.2% m/m and +0.6% 3-mo/3-mo.
0430 ETUK Q4 total business investment expected +0.9% q/q and +6.4% y/y, Q3 +2.2% q/q and +5.8% y/y.
1905 ETUK Feb GfK consumer confidence expected -1 to 3, Jan 4.
JPN1830 ETJapan Jan national CPI expected unch y/y, Dec +0.2% y/y. Jan national CPI ex-fresh food expected unch y/y, Dec +0.1% y/y. Jan national CPI ex food & energy expected +0.7% y/y, Dec +0.8% y/y.
1830 ETJapan Feb Tokyo CPI expected -0.3% y/y, Jan -0.3% y/y. Feb Tokyo CPI ex-fresh food expected -0.2% y/y, Jan -0.1% y/y. Feb Tokyo CPI ex food & energy expected +0.4% y/y, Jan +0.4% y/y.
CHI2030 ETChina Jan property prices.
U.S. STOCK CALENDAR02/25/2016
CompanyTickerTimeEvent DescriptionPeriodEstimate
Campbell Soup CoCPB USBef-mktQ2 2016 Earnings ReleaseQ2 20160.87
Cablevision Systems CorpCVC USBef-mktQ4 2015 Earnings ReleaseQ4 20150.168
Ensco PLCESV USBef-mktQ4 2015 Earnings ReleaseQ4 20150.726
Patterson Cos IncPDCO USBef-mktQ3 2016 Earnings ReleaseQ3 20160.667
Iron Mountain IncIRM USBef-mktQ4 2015 Earnings ReleaseQ4 20150.558
Quanta Services IncPWR USBef-mktQ4 2015 Earnings ReleaseQ4 20150.284
Best Buy Co IncBBY US7:00Q4 2016 Earnings ReleaseQ4 20161.393
Kohl's CorpKSS US7:00Q4 2016 Earnings ReleaseQ4 20161.553
Apache CorpAPA US8:00Q4 2015 Earnings ReleaseQ4 2015-0.489
Best Buy Co IncBBY US8:00Q4 2016 Earnings CallQ4 2016
Campbell Soup CoCPB US8:30Q2 2016 Earnings CallQ2 2016
International Business Machines CorpIBM US8:30Investor MeetingY 2016
Kohl's CorpKSS US8:30Q4 2016 Earnings CallQ4 2016
Iron Mountain IncIRM US8:30Q4 2015 Earnings CallQ4 2015
L Brands IncLB US9:00Q4 2016 Earnings CallQ4 2016
Transocean LtdRIG US9:00Q4 2015 Earnings CallQ4 2015
Quanta Services IncPWR US9:30Q4 2015 Earnings CallQ4 2015
Concho Resources IncCXO US9:30Q4 2015 Earnings CallQ4 2015
Patterson Cos IncPDCO US10:00Q3 2016 Earnings CallQ3 2016
Zions BancorporationZION US10:30Investor MeetingY 2016
Ensco PLCESV US11:00Q4 2015 Earnings CallQ4 2015
Newfield Exploration CoNFX US11:00Q4 2015 Earnings CallQ4 2015
Apache CorpAPA US14:00Q4 2015 Earnings CallQ4 2015
Gap Inc/TheGPS US16:15Q4 2016 Earnings ReleaseQ4 20160.568
Intuit IncINTU US16:30Q2 2016 Earnings CallQ2 2016
Gap Inc/TheGPS US17:00Q4 2016 Earnings CallQ4 2016
Autodesk IncADSK US17:00Q4 2016 Earnings CallQ4 2016
Kraft Heinz Co/TheKHC US17:00Q4 2015 Earnings CallQ4 2015
Monster Beverage CorpMNST US17:00Q4 2015 Earnings CallQ4 2015
EOG Resources IncEOG USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.316
Southwestern Energy CoSWN USAft-mktQ4 2015 Earnings ReleaseQ4 2015-0.041
Universal Health Services IncUHS USAft-mktQ4 2015 Earnings ReleaseQ4 20151.739
Autodesk IncADSK USAft-mktQ4 2016 Earnings ReleaseQ4 20160.116
Range Resources CorpRRC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.088
Mohawk Industries IncMHK USAft-mktQ4 2015 Earnings ReleaseQ4 20152.728
Intuit IncINTU USAft-mktQ2 2016 Earnings ReleaseQ2 20160.191
Kraft Heinz Co/TheKHC USAft-mktQ4 2015 Earnings ReleaseQ4 20150.58
Monster Beverage CorpMNST USAft-mktQ4 2015 Earnings ReleaseQ4 20150.818
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Wednesday, February 24, 2016

Bona Film Group - Chart of the Day

Bona Film Group (BONA) is the Barchart Chart of the Day.  The movie distribution company operates in China, has a Trend Spotter buy signal, a Weighted Alpha of 71.80 and gained 92.61% in the last year.

The Chart of the Day is Bona Film Group (BONA).  I found the film distribution stock by using Barchart to sort today's All Time High list for the highest technical buy signals, then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 12/15 the stock gained 4.31%.

Bona Film Group Limited operates as a film distributor engaged in the distribution of movies to theatres and non theatre circuits in the People's Republic of China. The Company's non-theatrical distribution channels include home video products, digital and internet distribution; and cable, satellite, and broadcast television. Additionally, Bona Film owns and operates movie theaters in commercial districts and residential areas in several major cities in China. The Company is also engaged in the production and advertisement of films. Bona Film Group Limited is headquartered in Beijing, the People's Republic of China.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

 Barchart technical indicators:

  • 96% technical  buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 2.19% in the last month
  • Relative Strength Index 66.59%
  • Technical support level at 13.57
  • Recently traded at 13.56 with a 50 day moving average of 13.28
Fundamental factors:
  • Market Cap $851.57 million
  • Revenue expected to grow 30.50% this year and another 24.50% next year
  • Earnings estimated to increase a 18.50% this year, an additional 15.60% next year and continue to increase at an annual rate of 70.00% for the next 5 years
  • Only 1 Wall Street analysts issued a recommendation on the stock and it's a buy
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The 5 Best of the IBD 50

Each week Investors Business Daily publishes the IBD 50 which is their 50 top rated stocks.  I use Barchart to sort those 50 stocks first by the Barchart technical buy signals, then I use the Flipchart feature to review the chart of consistent upward momentum.  Today's list includes:

Michael Kors (KORS), Ellie Mae (ELLI), Equity Lifestyle Properties (ELS), TAL Education Group (XRS) and Edwards Lifesciences (EW).

Michael Kors (KORS)


Barchart technical indicators:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 9 new highs and up 44.29% in the last month
  • Relative Strength Index 78.11%
  • Technical support level at 53.28
  • Recently traded at 55.44 with a 50 day moving average of 43.11
Ellie Mae (ELLI)


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 27.20% in the last month
  • Relative Strength Index 67.76%
  • Technical support level at 77.05
  • Recently traded at 83.74 with a 50 day moving average of 66.47

Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 6 new highs and up 3.01% in the last month
  • Relative Strength Index 60.24%
  • Technical support level at 6893
  • Recently traded at 69.11 with a 50 day moving average of 66.04


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 15.39% in the last month
  • Relative Strength Index 64.71%
  • Technical support level at 49.60
  • Recently traded at 50.82 with a 50 day moving average of 46.27


Barchart technical indicators:
  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 10.22% in the last month
  • Relative Strength Index 64.17%
  • Technical support level at 85.32
  • Recently traded at 87.05 with a 50 day moving average of 79.77





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