Monday April 27, 2015
Good Morning Traders,
Morning Notes
US Futures are higher this morning as the FOMC prepares for a two day meeting where once again we will have to watch for further clues to the timing of a rate increase. European markets are trading higher and Asia settled mixed.
Technicals
The $SPY remained above the resistance level of $211.50 and closed $211.85 on Friday. The $SPY has now broken through midrange resistance levels and above $212.25 opens up a clear area until major ascending macro channel resistance at $223. Support will remain at $211.
In Play
CANF: Can-Fite Biopharma – The company announced news regarding positive results from further analysis of Phase II/III Psoriasis trial; Data suggest CF101 as potential first-line systemic therapy for patients with moderate-severe psoriasis. Gapping up 32% with an 8.8M share float.
SYMX: Synthesis Energy Systems – John Paulson, hedge fund manager of Paulson & Co., a 19B hedge fund establishes a 12% stake. Gapping up 70% with a 59M share float.
CLDN: Celladon – The company announced news of failed Phase 2 Mydicar trial data. Gapping down 74% with a 12.6M share float.
Economic Calendar
9:45 Services PMI (Apr)
10:30 Dallas Fed Mfg. Business Index (Apr)
Earnings Before Open
TEN: Tenneco – EPS Est. $0.92. Rev Est. $2.04B
PLT: Plantronics – EPS Est. $0.61. Rev Est. $200.31M
Earnings After Close
AAPL: Apple Inc – EPS Est. $2.11. Rev Est. $2.38B
ABX: Barrick Gold – EPS Est. $0.09. Rev Est. $55.19B
RCII: Rent-A-Center – EPS Est. $0.50. Rev Est. $863.33M
Happy Trading!
