Friday August 14, 2015
Economic Calendar & Watch List 8/14/2015
Morning Notes
US futures are lower this morning and European stocks are trading lower by nearly -1% as the price of crude oil drifts to over a 6 year low. The Eurozone also reported weaker than expected growth for the prior quarter. Asian stocks experienced a mixed close.
Technicals
The SPY closed slightly lower at $208.66 and in the middle of yesterday’s range after testing the 50 day moving average overhead. Resistance will remain at the 50 day moving average at $209.50. Support will now become the low of yesterday’s range at $208.01.
In Play
ONTX: Onconova – The company reported in after hours yesterday that it submitted IND application with FDA to start Phase 3 study of IV rigosertib in patients with higher-risk myelodysplastic syndromes who have failed prior HMA therapy. It expects to start enrolling patients in 2H 2015, says trial as planned will require additional financing. Gapping up 60% with a 12.7M share float.
PBMD: Prima Biomed – Prima Biomed will receive an undisclosed clinical milestone payment, from its collaboration and licensing agreement with Novartis NVS relating to its Phase I IMP701 LAG-3 antibody. Gapping up 45% with a 42.8M share float.
**Others On Watch**
CYBR
NFLX
TSLA
Economic Calendar
8:30 Core PPI (YoY) [Jul] – Consensus 0.50%
8:30 PPI (YoY) [Jul] – Consensus (0.90)%
8:30 Core PPI (MoM) [Jul] – Consensus 0.10%
8:30 PPI (MoM) [Jul] – Consensus 0.10%
9:15 Industrial Production (MoM) [Jul] – Consensus 0.30%
9:15 KC Fed Mfg. Prod. [Jul] – Consensus 0.40%
9:15 Capacity Utilization Rate [Jul] – Consensus 78.0%
10:00 Michigan Inflation Expectations [Jul]
10:00 Michigan Consumer Sentiment [Jul] – Consensus 93.50
Earnings Before Open
JCP: JC Penney – EPS Est. $(0.48), Rev Est. $2.86B
Earnings After Close
NONE