Monday July 27, 2015
Economic Calendar 7/27/2015
Morning Notes
US futures are lower this morning as the Shanghai Index plummeted over 8% overnight on news that Chinese Industrial profits fell by nearly 30% in June compared to a year ago. Europe is also trading lower on the negative news out of China.
Technicals
The $SPY broke down through multiple levels of support on Friday while finally closing at $208. The next support below lies at $206.40 – $206.50, the 200 day moving average. Resistance will be at $208, then the high of Friday at $210.37.
In Play
MNOV: MediciNova – MediciNova Announces FDA Approval of the Second Phase 2 Protocol for MN-001 in NASH Which Targets NASH Patients With Hypertriglyceridemia. Gapping up 27% with a 22.4M share float.
Economic Calendar
8:30 Core Durable Goods (MoM) [Jun] – Consensus 0.30%
8:30 Durable Goods (MoM) [Jun] – Consensus 2.50%
8:30 Durable Goods Ex. Def. (MoM) [Jun]
8:30 Durable Goods Non-Def. Ex. Air (MoM) [Jun]
10:30 Dallas FED Mfg. Index [Jul]
Earnings Before Open
CAJ: Canon – EPS Est. $0.53, Rev Est. $7.89B
PHG: Canon – EPS Est. $0.53, Rev Est. $7.89B
NSC: Northfolk Southern – EPS Est. $1.52, Rev Est. $2.82B
Earnings After Close
PRE: PartnerRe – EPS Est. $2.20, Rev Est. $1.45B
BIDU: Baidu – EPS Est. $10.59, Rev Est. $16.55B
RCII: Rent-A-Center – EPS Est. $0.49, Rev Est. $813.41M
SWN: Southwestern Energy – EPS Est. $0.07, Rev Est. $808.17M
