Wednesday May 13, 2015
Economic Calendar 5/13/2015
Morning Notes
US Futures up slightly this morning and European Markets are trading higher by nearly 1% after bonds moved sharply higher and GDP for the Eurozone in Q1 expanded. Asian Markets closed mixed.
Technicals
The $SPY closed in between two support and resistance decision levels in yesterday’s session, leaving the market in a range bound and choppy market. Upper support will remain at $208 and the first level of resistance is $210.60’s. The $SPY will remain in this range bound zone until it breaks above $212-$212.25.
In Play
GEVO: Gevo, Inc. – The Company reported Q1 financial results yesterday after the market close showing a narrowing of a Q1 loss from an expectation of $(1.20) to $(0.88). In addition, the company signed a pact with Alaska Airlines for use of Gevo’s alcohol based fuel just a few days ago. Gapping up 20% with a 5.5M share float.
FCSC: Fibrocell Science Inc. – The Company received a Pediatric Disease Designation for a destrucitve skin disease. Gapping up 18% with a 25.5M share float.
OREX: Orexigen Therapeutics Inc. – The Company had to terminate trials with its diet pill Contrave after controversy surfaced regarding the premature release of preliminary results. You can read more here. Gapping down 10% with a 111.4M share float.
Economic Calendar
8:30 Core Retail Sales [Apr] – Consensus 0.50%
8:30 Retail Sales [Apr] – Consensus 0.20%
8:30 Retail Sales Ex Gas/Auto (MoM) [Apr]
8:30 Import Price Index – Consensus 0.30%
8:30 Export Price Index – Consensus 0.10%
10:00 Business Inventories – Consensus 0.20%
10:30 EIA Weekly Distillates Stocks – Consensus 829.0K
10:30 Gasoline Inventories – Consensus 0.43
Earnings Before Open
DSX: Diana Shipping – EPS Est. $(0.14). Rev Est. $40.47M
GTIM: Good Times Restaurants – EPS Est. $(0.04). Rev Est. $8.59M
Earnings After Close
NTES: NetEase – EPS Est. $8.69. Rev Est. $3.20B
JCP: JC Penney – EPS Est. $(0.75). Rev Est. $2.86B
CSCO: Cisco Systems – EPS Est. $0.53. Rev Est. $12.07B
JACK: Jack In The Box – EPS Est. $0.66. Rev Est. $355.77M
SHAK: Shake Shack – EPS Est. $0.66. Rev Est. $355.77M
Happy Trading!
