Thursday August 20, 2015
Economic Calendar & Watch List 8/20/2015
Morning Notes
US futures are lower this morning by -0.75% while European stocks are down -1.25% on further concerns of emerging markets. A sharp drop in crude oil prices has been influenced by Asia’s largest oil producer, Kazakhstan, allowed its currency to devalue to keep competitive with China and Russia as they are its two major trading partners. Asian stocks closed lower.
Technicals
The SPY dipped lower in early trading and managed to close off the lows and back above the 200 Day moving average at $208.32. Support lies at the 200 Day moving average at $207.86 followed by the low of yesterday’s range at $207.35. Resistance is at the 50 Day moving average at $209.53 followed by $209.60, a level that was tested and rejected yesterday.
In Play
OHGI: One Horizon Group – The company signs cooperation agreement with YTO Express to commence a trial of the Aishuo VoIP platform in Jiangsu province. Gapping up 20% with a 15.6M share float.
CLTX: Celsus Therapeutics – Celsus Therapeutics and Volution Immuno Pharmaceuticals Announce $75 Million Private Placement which values the shares representing a 159% premium to yesterday’s closing bid price. Gapping up 20% with a 4.9M share float.
**Others On Watch**
NTAP
YOKU
Economic Calendar
8:30 Jobless Claims 4-Wk Avg.
8:30 Initial Jobless Claims – Consensus 272.0K
8:30 Continuing Jobless Claims – Consensus 2.27M
10:00 Philly Fed Mfg. Index [Aug] – Consensus 7.00
10:00 Existing Home Sales (MoM) [Jul] – Consensus (0.60)%
10:00 Existing Homes Sales [Jul] – Consensus 5.42M
Earnings Before Open
CYBX: Cyberonics – EPS Est. $0.62, Rev Est. $76.78M
TTC: Toro – EPS Est. $0.90, Rev Est. $612.31M
Earnings After Close
HPQ: Hewlett-Packard – EPS Est. $0.86, Rev Est. $25.58B
BRCD: Brocade Comm. – EPS Est. $0.22, Rev Est. $550.86M
INTU: Intuit – EPS Est. $(0.11), Rev Est. $736.12M
TFM: The Fresh Market – EPS Est. $0.40, Rev Est. $458.75M