Wednesday May 20, 2015
Economic Calendar 5/20/2015
Morning Notes
US Futures are flat this morning ahead of the FOMC minutes from their April meeting. European Markets are slightly lower while Asian Markets closed mildly lower.
Technicals
The $SPY made another new high in yesterday’s session and closed off the highs at $213.03. Upper range support will now be at $212. Resistance will be at yesterday’s high of $213.57.
In Play
SRPT: Sarepta Therapeutics – The Company announced news that they would be filing for regulatory approval of their muscular dystrophy drug. Gapping up 45% with a 35M share float.
PBMD: Prima BioMed – The Company announced positive results from its Phase II study of its ovarian cancer drug showing improvements in patients. Gapping up 37% with a 42M share float.
PTBI: PlasmaTech Biopharmaceuticals – The Company announced that the FDA granted “Orphan Drug Designation” and “Rare Pediatric Disease Designation” for its lead product candidates. Gapping up 8% with a 2.7M share float.
ISR: IsoRay Inc. – The Company reported very positive results for its lung cancer treatment at 96% success in the control study. Gapping up 35% with a 54.4M share float.
Economic Calendar
10:30 EIA Gasoline Stocks Change – Consensus 2.08M barrels
10:30 EIA Crude Oil Stocks Change – Consensus 825.0K barrels
2:00 FOMC Meeting Minutes From April Meeting
Earnings Before Open
TGT: Target – EPS Est. $1.03, Rev Est. $17.09B
LOW: Lowe’s Corp. – EPS Est. $0.74, Rev Est. $14.27B
SPLS: Staples – EPS Est. $0.17, Rev Est. $5.47B
Earnings After Close
LB: L-Brands – EPS Est. $0.60, Rev Est. $2.54B
WSM: Williams-Sonoma – EPS Est. $0.44, Rev Est. $1.01B
CRM: Salesforce.com – EPS Est. $0.14, Rev Est. $1.50B
Happy Trading!
