Thursday October 22, 2015
Economic Calendar & Watch List 10/22/2015
Morning Notes
US futures are slightly higher this morning after strong Q3 earnings results released by Texas Instruments and eBay. European stocks are trading slightly higher as the ECB has decided to hold interest rates at unchanged. Asian stocks closed mixed.
Technicals
The SPY tested resistance in yesterday’s session, failed it and pulled back closing just off the lows. Support will lie at the low of yesterday’s range at $201.65, followed by $199.64 and $198.94. Resistance will lie at the high of yesterday’s range at $203.79, followed by $203.90 and the 200 day moving average at $206.
Small Cap Watch List
ERII: Energy Recovery – Credit Suisse increased their price target to $10 from $3. Gapping up 8% with a 48M share float.
WGBS: WaferGen – WaferGen Bio-systems Announces Supply Agreement With Reprogenetics for Next-Generation Sequencing (NGS) Automated Solutions Focused on In-Vitro Fertilization (IVF). Gapping up 6% with a 3.6M share float.
CANF: CanFite Biopharma – reports new findings for its CF602 drug candidate showing a defined mechanism of action in erectile dysfunction similar to sildenafil (Viagra). Gapping up 10% with a 9.6M share float.
**Others On Watch**
UA
MJN
RYLP
Economic Calendar
8:30 Weekly initial unemployment claims expected +10,000 to 265,000
8:30 Sep Chicago Fed national activity index expected +0.21 to -0.2
8:30 USDA weekly Export Sales
9:00 Aug FHFA house price index expected +0.5% m/m
10:00 Sep existing home sales expected +1.5% to 5.39 million
10:00 Sep leading indicators expected unchanged
11:00 Oct Kansas City Fed manufacturing activity expected -1 to -9
11:00 Treasury announces amount of 2-year T-notes, 2-year floating rate notes, T-notes
1:00 Treasury auctions $7 billion 30-year TIPS
Notable Earnings Before Open
MCD: McDonald’s – EPS Est. $1.28, Rev Est. $6.41B
CAT: Caterpillar – EPS Est. $.75, Rev Est. $11.25B
UA: Under Armour – EPS Est. $.44, Rev Est. $1.18B
EBAY: eBay – EPS Est. $.41, Rev Est. N/A
MMM: 3M – EPS Est. $2.00, Rev Est. $7.85B
LUV: Southwest Airlines – EPS Est. $.94, Rev Est. $5.1B
Earnings After Close
AMZN: Amazon – EPS Est. $(.07), Rev Est. $24.91B
GOOGL: Alphabet Inc. – EPS Est. $7.37, Rev Est. $18.53B
MSFT: Microsoft – EPS Est. $.58, Rev Est. $21B
JNPR: Juniper Networks – EPS Est. $.53, Rev Est. $1.23B