Wednesday June 10, 2015
Economic Calendar 6/10/2015
US Futures are higher this morning after more Merger and Acquisition activity takes place after HCC Insurance Company is being bought by Tokio Marine Holdings for $7.5 Billion dollars. European stocks are also trading higher as the Greek Prime Minister is meeting with German and French officials to strike a deal. Asian stocks closed mixed.
The $SPY tested $208 support and closed up off support at $208.45 in yesterday’s session. Today, if the $208 support zone holds and the price action begins to move back up through yesterday’s high of$209.10 we can look for a reversal and a move back up. Resistance will be at the high of yesterday’s range at $209.10 and support is at $208.
OGEN: Oragenics Inc – The Company announced the expansion of collaboration with Intrexon to pursue the development of biotherapeutics for the oral cavity. Gapping up 75% with a 4.6M share float.
CANF: Can Fite Biopharma – The Company announced receipt of a “Notice of Allowance” from the US Patent and Trademark Office for a manufacturing method of its lead drug candidate CF101. Gapping up 7% with a 9.3M share float.
RCON: Recon Technologies – The Company announced it has been selected as a “Qualified Contractor” for Sinopec, China Petroleum and Chemical Corporation, which is one of the largest energy and chemical plants in China. Gapping up 12% with a 2.7M share float.
10:30 EIA Weekly Distillates Stocks – Consensus 1.17M
10:30 Gasoline Inventories
10:30 Crude Oil Inventories – Consensus (1.70M)
Earnings Before Open
Earnings After Close
KKD: Krispy Kreme – EPS Est. $0.22, Rev Est. $135.99M
MW: Mens Warehouse – EPS Est. $0.51, Rev Est. $857.67M