Wednesday July 1, 2015
Economic Calendar 7/1/2015
Morning Notes
US Futures are slightly higher this morning and European stocks are also trading higher on optimism on Greece is ready to accept proposals from creditors to put an end to the struggle over a bailout. Asian stocks closed mixed.
Technicals
The $SPY tested the 200 day moving average again yesterday and closed slightly back above it at $205.85. Support will remain to be at the 200 day moving average of $205.40-$205.30. The pivot point for a potential move back higher is $207.30. Resistance above that is at $208.
In Play
RCPI: Rock Creek Pharmaceuticals – announced today the results of a human proof of principle study with anatabine citrate, the Company’s lead compound. Results from the study show that a single oral dose of anatabine citrate can significantly inhibit the activation of inflammatory proteins in the blood of human subjects. Gapping up 28% with a 7.6M share float.
TLOG: announced preliminary data from the ongoing Phase 2A study of birinapant in combination with azacitidine in first line higher risk myelodysplastic syndromes (MDS). Says 3 patients in MDS study had complete response. Gapping up 30% with a 9.9M share float.
FREE: FreeSeas – Greece -based shipping company been beaten down moving higher on the Greek optimism. Gaping up 17%.
Economic Calendar
8:15 ADP Nonfarm Employment Change – Consensus 205.0K
9:45 Manufacturing PMI
10:00 ISM Manufacturing Prices
10:00 ISM Manufacturing PMI – Consensus 53.0
10:00 ISM Manufacturing New Orders Index
10:00 ISM Manufacturing Employment
10:00 Construction Spending – Consensus 0.40%
1:30 Domestic Truck Sales – Consensus 7.90M
1:30 All Truck Sales
Earnings Before Open
GIS: General Mills – EPS Est. $0.71, Rev Est. $4.53B
STZ: Constellation Brands – EPS Est. $1.23, Rev Est. $1.62B
MKC: McCormick & Co. – EPS Est. $0.68, Rev Est. $1.03B
PAYX: Paychex – EPS Est. $0.44, Rev Est. $690.53M
Earnings After Close
NONE
Happy Trading!
