Friday April 24, 2015
Good Morning Traders,
Morning Notes
US Futures are higher this morning after MSFT posted a beat of third quarter earnings and being bid higher by over 3%. European Markets currently trading higher after a business confidence report came in higher than expected. Asian Markets settled mixed.
Technicals
The $SPY broke through key resistance of $211 and closed above at $211.16 in yesterday’s session. This action sets the $SPY up for a stronger move higher in the days to come. Resistance now is at $212.25 and mid-range support is at $209.95.
In Play
LOOK: Look Smart – The company announced news that it would be spinning off and merging with Maritime Technologies. This action has been labeled a “spin-off” however, it involves the sale of all of Look Smart to Maritime Technologies. Gapping up 25% with a 5.7M share float.
EHTH: EHealth Inc. – Reported a Q1 on earnings per share and also a beat on revenue. Gapping up 22% with a 13M share float.
Economic Calendar
08:30 Durable Goods Orders (MoM) [Mar] – Consensus 0.60%
08:30 Core Durable Goods Orders (MoM) [Mar] – Consensus 0.30%
08:30 Durable Ex Def (MoM) [Mar]
08:30 Orders Non-Def Ex Air (MoM) [Mar] – Consensus 0.30%
Earnings Before Open
DTE: DTE Energy – EPS Est. $1.45, Rev Est. $3.34B
AAL: American Airlines – EPS Est. $1.71, Rev Est. $9.83B
SHOO: Steve Madden – EPS Est. $0.32, Rev Est. $316.70M
Earnings After Close
NONE
Happy Trading!