Economic Calendar 7/7/2015

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Tuesday July 7, 2015

 

Economic Calendar 7/7/2015

 

Morning Notes

US Futures are slightly higher this morning while European stocks are trading near 5 month lows ahead  of the meeting taking place between European leaders to discuss the crisis in Greece. The Greek stock market as well as the banks will remain closed through Wednesday. Asian stocks closed mostly mixed.

 

Technicals

The $SPY tested the 200 day moving average once again in yesterday’s session and closed above at $206.72.  Resistance is at $207.30 followed by a critical pivot point at $208. If the $SPY can move through and hold $208, look for a move back up to the next resistance at $208.80 – $209.20.

SPY_7_7

In Play

ORMP: Oramed Pharmaceuticals – The company announced today that it has signed a non-binding Letter of Intent (LoI) for an investment and license agreement in China with Sinopharm Capital Management Co. Ltd. and Hefei Life Science & Technology Park Investments and Development Co., Ltd. (Sinopharm/Hefei) potentially valued at $50,000,000,  plus royalty payments. Gapping up 11% with a 8.5M share float.

PBMD: Prima Biomed – The company announced that it has received positive Scientific Advice from the European Medicines Agency on the development path for its lead product, IMP321 in metastatic breast cancer. Gapping up 40% with a 43M share float.

PLUG: Plug Power – The company announced a record revenue quarter and reaffirms FY15 financial targets; maintains forecast for revs of $100 mln vs $99.96 mln Capital IQ Consensus Estimate. Gapping up 11% with a 172M share float

 

Economic Calendar

8:30 Trade Balance [May] – Consensus (42.10B)

8:55 Redbook (YoY) – Prior 1.70%

8:55 Redbook (MoM) – Prior (1.50)%

10:00 JOLTs Job Opening – Consensus 5.35M

10:00 IBD/TIPP Economic Optimism

15:00 Consumer Credit – Consensus 18.50B

16:00 API Weekly Crude Stock

 

Earnings Before Open

NONE

 

Earnings After Close

TCS: The Container Store – EPS Est. $(0.13), Rev Est. $173.56M

 

Happy Trading!

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