Thursday June 25, 2015
Economic Calendar 6/25/2015
Morning Notes
US Futures are higher this morning along with European markets after Greece submitted a revised proposal to avoid default and EU officials said they felt optimistic about this plan can be the foundation for a successful deal. Officials will meet in Brussels today to determine if the new plan will fit creditors’ criteria.
Technicals
The $SPY closed lower at $210.50 yesterday, just off the upper support zone. Support will remain the same at $210.36 and resistance is at $211.70.
In Play
CBLI: Cleveland BioLabs – announced that it has entered into a securities purchase agreement with David Davidovich, a venture capital investor, for the sale of 6,459,948 unregistered common shares at a price of $3.87 per share for an aggregate of $25 million. The offering represents a 35% premium to the closing market price of $2.86 on June 23, 2015 and a 21% premium to the trailing 60-day volume weighted average price, as reported by Bloomberg. The parties expect to close the transaction on or about July 6, 2015. Gapping up 94% with a 2.8M share float.
CNAT: Conatus Pharmaceuticals – The company announced biomarker and histology data from the first patients in Phase 2b clinical trial of its drug candidate, emricasan, in post-orthotopic liver transplants. Patients have reestablished liver fibrosis or cirrhosis post-transplant as a result of recurrent hepatitis C virus infection and have successfully achieved a sustained viral response. Gapping up 9% with a 12M share float.
Thursday’s Full Watch List
Economic Calendar
8:30 Continuing Jobless Claims – Consensus 2.21M
8:30 Initial Jobless Claims – Consensus 272.0K
8:30 4-Wk Avg. Jobless Claims
8:30 Personal Spending (MoM) [May] – Consensus 0.70%
8:30 Personal Income (MoM) [May] – Consensus 0.50%
8:30 Real Personal Consumption (MoM) [May]
8:30 Core PCE Price Index (YoY) [May]
8:30 Core PCE Price Index (MoM) [May] – Consensus 0.10%
9:45 Services PMI – Consensus 56.70
9:45 Natural Gas Storage
11:00 KC Fed Manufacturing Index
Earnings Before Open
BKS: Barnes & Noble – EPS Est. $(0.39), Rev Est. $1.18B
ACN: Accenture – EPS Est. $1.22, Rev Est. $7.55B
Earnings After Close
NKE: Nike – EPS Est. $0.83, Rev Est. $7.67B
MU: Micron Tech – EPS Est. $0.60, Rev Est. $3.93B
WOR: Worthington Industries – EPS Est. $0.46, Rev Est. $844.87M
