Thursday June 4, 2015
Economic Calendar 6/4/2015
Morning Notes
US Futures are lower this morning as European Markets are hitting 4 week lows and down over 1.7% after a selloff in bonds occurs world wide along with the ECB forecasting higher inflation Eurozone inflation rates. Asian stocks closed lower as well.
Technicals
The $SPY broke back above descending resistance of $211.8 and closed just slightly above it at $211.92 in Wednesday’s trading. Look for a continued move upwards through yesterday’s high of $212.67 and $212.70, the next point of resistance. Support is at $210-$210.20.
In Play
NBY: NovaBay Pharmaceuticals – The Company announced it has received 510(k) clearance from the FDA for its device to safely disinfect contact lenses with hydrogen peroxide. Gapping up 32% with a 47M share float.
AVEO: Aveo Pharmaceuticals – The Company announced it recieved European regulatory guidance regarding potential marketing authorization application for Tivozanib last night. Gapping up 28% with a 18.6M share float.
NEON: Neonode – The Company announced it has signed a development and license agreement with Samsung Electronics Co., Ltd. to incorporate zForce CORE technology into its printer applications. Gapping up 9% with a 33.9M share float.
Economic Calendar
8:30 Unit Labor Costs (QoQ) [Q1] – Consensus 5.90%
8:30 Nonfarm Productivity (QoQ) [Q1] – Consensus (2.90)%
8:30 Initial Jobless Claims – Consensus 279.0
8:30 Continuing Jobless Claims – Consensus 2.21M
8:30 Jobless Claim 4-Wk Avg.
10:30 Natural Gas Storage
12:00 FOMC Member Tarullo Speaks
Earnings Before Open
SJM: JM Smucker – EPS Est. $0.99, Rev Est. $1.34B
JOY: Joy Global – EPS Est. $0.56, Rev Est. $809.94M
UTIW: UTI Worldwide – EPS Est. $(0.15), Rev Est. $1.02B
CIEN: Ciena – EPS Est. $0.24, Rev Est. $606.53M
LE: Lands’ End- EPS Est. $0.03, Rev Est. $320.54M
Earnings After Close
ALOG: Analogic – EPS Est. $0.99, Rev Est. $132.79M
COO: Cooper – EPS Est. $1.76, Rev Est. $453.60M
ZUMZ: Zumiez – EPS Est. $0.12, Rev Est. $179.58M
SEAC: SeaqChange Int’l – EPS Est. $(0.17), Rev Est. $22.97M
ZOES: Zoe’s Kitchen – EPS Est. $(0.01), Rev Est. $61.52M
Happy Trading!