Tuesday October 27, 2015
Economic Calendar & Watch List 10/27/2015
Morning Notes
US futures are relatively flat this morning and European stocks are trading slightly lower as APPL prepares to release earnings after the market close and the FOMC 2 day meeting begins. The market will await the post FOMC meeting statement to better gauge the timing of a rate hike. Asian stocks closed mostly lower.
Technicals
The SPY was range bound in yesterday’s session, remaining within the prior days trading range making for a low volatility choppy day. Support will lie at the low of yesterday’s range at $206.56, followed by $206.30 and then the 200 day moving average at 206. Resistance will lie at the high of yesterday’s range at $207.37, followed by $207.95 and $210.01.
Small Cap Watch List
ORPN: Bio Blast Pharma – The company reported promising data on muscle wasting drug that displayed positive phase 2 results. Gapping up 24% with a 4M share float.
UQM: UQM Technologies – The company Signs Ten Year Supply Agreement with Chinese Customer which could generate up to $400M over 10 years. Gapping up 21% with a 35.7M share float.
CYTK: Cytokinetics – Amgen/Cytokinetics Heart Failure Study Meets Endpoints. Gapping up 16% with a 30.2M share float.
**Others On Watch**
IACI
CMI
BABA
Economic Calendar
8:30 Sep durable goods orders expected -1.5%
9:00 Aug S&P Case Shiller composite home price index expected +.10% m/m and +5.10% y/y
9:45 Preliminary Oct Markit services PMI expected +0.4 to 55.5
10:00 Oct consumer confidence expected unchanged at 103.0
10:00 Oct Richmond Fed manufacturing index expected +2 to -3
11:00 FOMC begins 2-day policy meeting
1:00 Treasurys 2-year T-note auction postponed due to debt ceiling constraints
Notable Earnings Before Open
BABA: Alibaba – EPS Est. $3.45, Rev Est. $21.32B
UPS: United Parcel Service – EPS Est. $1.37, Rev Est. $14.43B
F: Ford – EPS Est. $.47, Rev Est. $35.07B
PFE: Pfizer – EPS Est. $.51, Rev Est. $11.56B
CMCSA: Comcast – EPS Est. $.80, Rev Est. $18.02B
Notable Earnings After Close
AAPL: Apple – EPS Est. $1.88, Rev Est. $51.06B
TWTR: Twitter – EPS Est. $.05, Rev Est. $559.4M
AKAM: Akamai – EPS Est. $.58, Rev Est. $550.29M
