Wednesday April 29, 2015
Good Morning Traders,
Morning Notes
US Futures are slightly lower this morning ahead of the 2:00 P.M. FOMC meeting decision and US Q1 GDP data. European Markets are also slightly higher and Asian Markets settled lower.
Technicals
The $SPY.tested support of $209.95 in yesterday’s session, dipping down to $209.33 but rallied back to close just off the highs at $211.44 proving true the relentless buying we have experienced the last few days. Support and resistance levels will remain the same. $209.95 and $212.25, respectively.
In Play
GPRO: GoPro – The Company posted a Q1 earnings beat and has received numerous upgrades. Gapping up 12% with a 48M share float.
ARNA: Arena Pharmaceuticals – The Company announced favorable results from a Phase 1 single-ascending dose clinical trial of APD371, a highly selective and potent agonist of the cannabinoid 2 (CB2) receptor currently in development for the treatment of pain and potentially fibrotic diseases. Gapping up 6% with a 240M share float.
Economic Calendar
8:30 GDP (QoQ) [Q1 1st Reas] – Consensus 1.10%
8:30 GDP Price Index (QoQ) [Q1 1st Reas] – Consensus 0.50%
8:30 Real Consumer Spending
10:00 Pending Home Sales (MoM) – Consensus 1.00%
10:00 Pending Home Sales Index
14:00 FOMC Statement
Earnings Before Open
HUM: Humana – EPS Est. $2.56. Rev Est. $13.25B
HOT: Starwood Hotels – EPS Est. $0.57. Rev Est. $1.39B
NOC: Northrop Grumman – EPS Est. $2.28. Rev Est. $5.80B
HES: Hess – EPS Est. $(1.05). Rev Est. $1.39B
GRMN: Garmin – EPS Est. $0.57. Rev Est. $606.26M
MA: Mastercard – EPS Est. $0.80. Rev Est. $2.29B
GD: General Dynamics – EPS Est. $1.95. Rev Est. $7.42B
SAVE: Spirit Airlines – EPS Est. $0.96. Rev Est. $494.92M
LINE: Linn Energy- EPS Est. $(0.20. Rev Est. $762.46M
LL: Lumber Liquidators – EPS Est. $0.16. Rev Est. $258.01M
TWX: Time Warner – EPS Est. $1.09. Rev Est. $7.0B
Earnings After Close
NXPI: NXP Semiconductors – EPS Est. $1.30. Rev Est. $1.48B
MUR: Murphy – EPS Est. $(0.87). Rev Est. $764.11M
KEX: Kirby – EPS Est. $1.08. Rev Est. $610.55M
LOCK: LifeLock – EPS Est. $(0.05). Rev Est. $133.82M
CBT: Cabot – EPS Est. $0.63. Rev Est. $823.00M
MAR: Marriott Int’l – EPS Est. $0.70. Rev Est. $3.59B
YELP: Yelp – EPS Est. $0.01. Rev Est. $119.96M
AMC: AMC Enertainment – EPS Est. $0.08. Rev Est. $655.52M
WLL: Whiting Petroleum – EPS Est. $(0.32). Rev Est. $567.65M
SFLY: Shutterfly – EPS Est. $(1.33). Rev Est. $156.24M
Happy Trading!
