Tuesday May 26, 2015
Economic Calendar 5/26/2015
Morning Notes
US Futures are down this morning after Fed President Loretta Mester made comments hinting that the Fed is closer to raising interest rates. This comment goes along with what Janet Yellen had noted on Friday that the economy is near a point where it can handle higher rates.European markets are currently unchanged while Asia closed higher.
Technicals
The $SPY held the pivot low of $212.50 in trading on Friday and now hows upper range support at $212.25 – $212.50. Resistance is at $213.75.
In Play
IPCI: IntelliPharmaceutics International – The Company announced that it has received a Fast Track designation from the FDA for its Rexista(TM) Oxycodone XR Incorporating PODRAS(TM) Technology. Gapping up 16% with a 17.4M share float.
CERU: Cerulean Pharma – The Company announced that it has received Orphan Drug Status from the FDA for its drug CLRX101 which provides treatment for ovarian cancer. Gapping up 10% with a 13.5M share float.
PBMD: Prima BioMed – The Company announced that its drug CVac has shown a clear overall trend for survival in second Ovarian Cancer Phase II study. Gapping up 8% with a 42M share float.
Economic Calendar
8:30 Core Durables (MoM)-Apr – Consensus 0.50%
8:30 Durable Goods (MoM)-Apr – Consensus (0.20)%
8:30 Durables Ex Def. (MoM)-Apr
8:30 Durables Non Def. Ex Air (MoM)-Apr – Consensus 0.50%
8:55 Redbook (MoM)
8:55 Redbook (YoY)
9:00 S&P C/S Housing Price Index (YoY)-Mar
9:00 S&P C/S Housing Price Index (MoM)-Mar
9:00 S&P C/S Housing Price Index-Mar
9:00 S&P C/S HPI – 20-city s.a. (MoM)-Mar – Consensus 0.90%
9:00 S&P C/S HPI – 20-city n.s.a. (MoM)-Mar – Consensus 0.80%
9:00 S&P C/S HPI – 20-city n.s.a. (YoY)-Mar – Consensus 4.80%
9:45 Services PMI-May – Consensus 57.00
10:00 Consumer Confidence-May – Consensus 95.0
10:00 New Home Sales-Apr – Consensus 510.00K
10:00 New Home Sales (MoM)-Apr – Prior (11.40)%
10:00 Richmond Services Index-Apr
10:00 Richmond Mfg. Shipments-Apr
10:00 Richmond Mfg. Index-Apr
10:30 Dallas FED Mfg. Biz Index-May
Earnings Before Open
AZO: AutoZone – EPS Exp. $9.50, Rev Exp. $2.50B
MOBI: Sky-Mobi – No Expectations or prior results
Earnings After Close
WDAY: Workday – EPS Exp. $(0.08), Rev Exp. $245.01M
TIVO: TIVO – EPS Exp. $0.07, Rev Exp. $91.53M
VNET: 21Vianet Group – EPS Exp. $0.21, Rev Exp. $899.31M
Happy Trading!