Wednesday July 22, 2015
Economic Calendar 7/22/2015
Morning Notes
US futures are lower this morning as earnings from Apple, Microsoft, and Yahoo are weighing heavily on the markets. European stocks are also trading lower while Asian stocks closed predominantly lower.
Technicals
The $SPY tested and rejected descending resistance yesterday and closed lower at $211.75. Support below lies at $211.25, $21.60, and $209.8. Resistance overhead remains at the descending resistance line at $212.85.
In Play
LPCN: Lipocine Inc. – The company received a new buy rating at Roth Capital with a $36 price target. Gapping up 6% with a 9.2M share float.
LOCK: LifeLock – The company was hit with allegations from the FTC that the company violated a previous settlement between the two parties. Experienced a selloff yesterday and will continue to be volatile with a lot of range. Gapping up 5% with an 81M share float.
Economic Calendar
9:00 FHFA Housing Price Index (MoM) [May]
9:00 FHFA Housing Price Index – SA [May]
9:00 FHFA Housing Price Index (YoY) [May]
10:00 Existing Home Sales (MoM) [Jun] – Consensus 1.20%
10:00 Existing Home Sales [Jun] – Consensus 5.40M
10:30 EIA Weekly Distillates Stocks – Consensus 1.71M Barrels
10:30 Gasoline Inventories – Consensus 1.03M Barrels
10:30 EIA Crude Oil Inventories – Consensus (2.13M) Barrels
Earnings Before Open
BA: Boeing – EPS Est. $2.06, Rev Est. $23.51B
KO: Coca-Cola – EPS Est. $0.60, Rev Est. $12.07B
ABT: Abbott Labs – EPS Est. $0.50, Rev Est. $5.15B
EMC: EMC – EPS Est. $0.41, Rev Est. $6.10B
TUP: Tupperware Brands – EPS Est. $1.18, Rev Est. $592.03M
Earnings After Close
QCOM: Qualcomm- EPS Est. $0.95, Rev Est. $5.86B
SNDK: SanDisk – EPS Est. $0.33, Rev Est. $1.19B
DFS: Discover Financial – EPS Est. $1.33, Rev Est. $2.23B
Happy Trading!