Tuesday October 20, 2015
Economic Calendar & Watch List 10/20/2015
Morning Notes
US futures are slightly lower this morning and European stocks are trading lower by nearly -1% as chances of increased quantitative easing from the ECB has lessened after European credit standards have loosened consistently over the past 6 months. Asian stocks closed mixed.
Technicals
The SPY traded slightly higher in yesterday’s session with relatively choppy price action. Support will lie at the low of yesterday’s range at $202.13, followed by $199.64, $198.94, and $198.59 which coincides with the 50 day moving average. Resistance will lie at the high of yesterday’s range at $203.37, followed by $203.90.
Small Cap Watch List
ERII: Energy Recovery – The company signed a 15 year deal with Schlumberger (SLB) where SLB will pay $75M exclusivity fee and two additional milestone payments of $25M Gapping up 140% with a 47.8M share float.
CRBP: Corbus Pharmaceuticals – Receives Orphan Designation, Fast Track in Cystic Fibrosis. Gapping up 30% with a 24M share float.
**Others On Watch**
HOG
SNDK
YUM
Economic Calendar
8:30 Sep housing starts expected +1.4% to 1.142 million
9:00 Fed Governor Jerome Powell and New York Fed President William Dudley speak on bonds
11:00 Fed Chair Janet Yellen delivers welcoming remarks at a Labor Hall of Honor Induction Ceremony
Earnings Before Open
HOG: Harley Davidson – EPS Est. $.783
UTX: United Technologies – EPS Est. $1.54
PNR: Pentair PLC – EPS Est. $.958
LMT: Lockheed Martin – EPS Est. $2.71
BK: Bank of New York Mellon – EPS Est. $.71
VZ: Verizon Wireless – EPS Est. $1.02
OMC: Omnicom – EPS Est. $.95
DOV: Dover Corp – EPS Est. $1.06
FITB: Fifth Third Bancorp – EPS Est. $.4
TRV: Travelers – EPS Est. $2.26
Earnings After Close
CMG: Chipotle Mexican Grill – EPS Est. $4.62
YHOO: Yahoo! – EPS Est. $.15
ISRG: Intuitive Surgical – EPS Est. $4.22
DFS: Discover Financial Services – EPS Est. $1.32
