Tuesday June 2, 2015
Economic Calendar 6/2/2015
Morning Notes
US Futures are lower this morning as European Markets are trading at 2 week lows after further concerns out of Greece arise with a debt payment that is due to the IMF this Friday. Asian Markets closed mixed.
Technicals
The $SPY tested support of $210.9 again in yesterday’s trading and closed higher at $211.57. Descending resistance remains in play at $212.50 and support remains at $210.9. Watch for a strong move in either direction through these points of resistance/support for market direction.
In Play
CDTI: Clean Diesel Technologies – The Company announced very positive results for its “SpineI” technology, a proprietary system that reduces exhaust emissions and expected to drastically reduce the cost for auto manufacturers to attain the clean air standards. Gapping up 14% with a 13.3M share float.
AVEO: AVEO Oncology – The CEO announced he would be presenting at the Jefferies 2015 Global Healthcare Conference. Gapping up 17% with a 54M share float.
Economic Calendar
9:00 CB Consumer Confidence – Consensus 94.90
10:00 Factory Orders (MoM) – Consensus (0.1)%
1:30 Total Vehicle Sales – Consensus 16.5M
Earnings Before Open
MDT: Medtronic – EPS Est. $1.10, Rev Est. $7.08B
SOL: ReneSola – EPS Est. $(0.04), Rev Est. $368.18M
DG: Dollar General Corp. – EPS Est. $0.82, Rev Est. $4.94B
Earnings After Close
GES: Guess – EPS Est. $(0.05), Rev Est. $483.45M
ABM: ABM Industries Inc – EPS Est. $0.35, Rev Est. $1.28B
Happy Trading!
