Thursday May 7, 2015
Economic Calendar 5/7/2015
Morning Notes
US Futures are lower this morning with the Emini’s at monthly lows. European Markets are trading lower by over 1% at 2 month lows after comments from Fed Chair Yellen said that valuations of equity markets are high. Asian Markets closed mildly lower.
Technicals
The $SPY tested two levels of support in yesterday’s session. $208 and $207 support zones were tested and the $SPY closed back above both at $208.04. Look for the $SPY to hold above $207 for a potential move back up. Otherwise, lower range support is $205 then $204. Resistance is at $209.93 and $211.10.
In Play
GEVO: Gevo Inc. – The company announced news that it has partnered with Alaska Airlines to launch the first ever renewable alcohol based jet fuel. Gaping up 60% with a 5.5M share float.
BABA: Alibaba Group Holding Limited – The Company posted a 45% increase in Q4 revenue and named Daniel Zhang as the new CEO. Gapping up 10% with a 1B share float.
PTBI: Plasmatech Biopharmaceuticals, Inc. – Day 3 of a momentum based run. The Company also announced news of a 10M private placement from one institutional investor for $8/share. Gapping up 18% with a 2.7M share float.
Economic Calendar
8:30 Initial Jobless Claims – Consensus 280.0K
8:30 Jobless Claims 4-wk Avg.
8:30 Continuing Jobless Claims – Consensus 2.28M
10:30 Natural Gas Storage
15:00 Consumer Credit – Consensus $16.0B
Earnings Before Open
CSIQ: Canadian Solar – EPS Est. $0.60. Rev Est. $735.12M
PCLN: Priceline – EPS Est. $7.72. Rev Est. $1.80B
SEAS: SeaWorld – EPS Est. $(0.59). Rev Est. $210.84M
BDX: Becton Dickinson – EPS Est. $1.53. Rev Est. $2.05B
TAP: Molson Coors – EPS Est. $0.45. Rev Est. $718.21M
MPEL: Melco Crown Ent. – EPS Est. $0.19. Rev Est. $1.07B
SUNE: SunEdison – EPS Est. $(0.40). Rev Est. $491.77M
KATE: Kate Spade – EPS Est. $0.02. Rev Est. $244.88M
Earnings After Close
FUEL: Fuel – EPS Est. $(0.69). Rev Est. $105.01M
TSO: Tesoro – EPS Est. $1.29. Rev Est. $5.94B
TLLP: Tesoro Logistics – EPS Est. $0.60. Rev Est. $239.21M
BEBE: BeBe Stores – EPS Est. $(0.13). Rev Est. $93.14M
BKD: Brookdale Senior – EPS Est. $0.59. Rev Est. $1.27B
Happy Trading!
