Wednesday May 6, 2015
Economic Calendar 5/6/2015
Morning Notes
US Futures are slightly higher this morning in front of the April ADP employment report which will give a greater understanding of the degree of recovery coming out of the winter months. European Markets are trading higher on a higher than expected PMI number and Asia closed mildly lower.
Technicals
The $SPY broke down through mid range support of $209.95 yesterday and tested ascending support once again at $208.73 closing just off the low at $208.90. Below ascending support, the next level of support is $207.08. Resistance is $211.25 then $212.25.
In Play
PTBI: PlasmaTech Biopharmaceuticals – The Company announced news this morning to acquire Abeona Therapeutics for 3.98 Million. Follow through day on a low float rotation. Gapping up 35% with a 2.7M share float.
RDCM: Radcom – The Company announced news of its largest deal to date signing a 13 Million dollar contract with a Tier-1 operator. Radcom provides telecom operations and communications services. Gapping up 10% with a 4.6M share float.
Economic Calendar
8:15 ADP Nonfarm Employment [Apr] – Consensus 200.0K
8:30 Nonfarm Productivity- Consensus (1.80)%
8:30 Unit Labor Costs- Consensus 4.00%
9:15 FED Chair Yellen Speaks
10:30 Gasoline Inventories – Consensus 500.0K
10:30 Crude Oil Inventories – Consensus 1.55M
10:30 EIA Weekly Distillates Stock – Consensus 250.0K
13:15 FED George Speaks
13:30 FED Lockhart Speaks
Earnings Before Open
WEN: Wendy’s – EPS Est. $0.05. Rev Est. $475.63M
BUD: Anheuser-Busch – EPS Est. $1.01. Rev Est. $10.40
DDD: 3D Systems – EPS Est. $(0.20). Rev Est. $20.10M
SODA: Sodastream – EPS Est. $0.03. Rev Est. $100.94M
OXY: Occidental Petroleum – EPS Est. $0.04. Rev Est. $3.30B
Earnings After Close
TSLA: Tesla – EPS Est. $(0.50). Rev Est. $1.04B
RIG: Transocean – EPS Est. $0.60. Rev Est. $1.91B
MET: MetLife – EPS Est. $1.41. Rev Est. $1.04B
WFM: Whole Foods – EPS Est. $0.43. Rev Est. $3.71B
SD: SandRidge – EPS Est. $(0.01). Rev Est. $328.61M
MRO: Marathon Oil – EPS Est. $(0.45). Rev Est. $1.63B
CZR: Caesar Entertainment – EPS Est. $(1.55). Rev Est. $2.25B
GMCR: Keurig Green Mountain – EPS Est. $1.05. Rev Est. $1.15B
Happy Trading!