Tuesday July 21, 2015
Economic Calendar 7/21/2015
Morning Notes
US futures are unchanged after IBM declined 5% on earnings late yesterday and European markets are slightly lower led by a slip in drug stocks after Novartis lost 2% on lower than expected earnings. Asian stocks closed higher.
Technicals
The $SPY tested descending resistance yesterday of $212.85 and closed back below at $212.59. Resistance will remain at the descending support of $212.85 followed by $213.34. Upper range support will now be $212 – $212.20.
In Play
EDAP: Edap TMS SA – The company announced that it has received a letter from the U.S. Food and Drug Administration (“FDA”) related to its Direct De Novo 510(k) petition for Ablatherm HIFU in the United States. The “Deficiency List” (as such communications about a regulatory filing are officially termed), identifies items and topics for which the FDA has requested additional information or further clarification to continue its ongoing review. Only four (4) points were raised in the deficiency list and the company believes it can address each of the issues. Gapping up 7% with a 25M share float.
OGXI: OncoGenex Pharmaceuticals – Analsyt firm William Blair pushed its price target to $6 from $5. Gapping up 6% with a 22M share float.
Economic Calendar
8:55 Redbook (MoM)
8:55 Redbook (YoY)
4:30 API Weekly Crude Oil Stock
Earnings Before Open
VZ: Verizon – EPS Est. $1.00, Rev Est. $32.53B
TRV: Travelers – EPS Est. $2.09, Rev Est. $6.26B
HOG: Harley Davidson- EPS Est. $1.41, Rev Est. $1.68B
Earnings After Close
AAPL: Apple – EPS Est. $1.76, Rev Est. $1.03B
CMG: Chipotle – EPS Est. $4.46, Rev Est. $1.22B
GPRO: GoPro – EPS Est. $.26
YHOO: Yahoo! – EPS Est. $0.18, Rev Est. $1.03B
VMW: VMWare – EPS Est. $0.91, Rev Est. $1.59B
MSFT: Microsoft – EPS Est. $0.56, Rev Est. $22.08B
