Monday November 23, 2015
Economic Calendar & Watch List 11/23/2015
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Morning Notes
US Futures are slightly lower this morning and European stocks are also trading slightly lower influenced by a slide in commodity prices. Crude is lower by over -1.5% and copper is lower by nearly -2%, over a 6 year low. US futures paired some of the losses after Pfizer(PFE) and Allergan(AGN) announced their merger deal is to be valued at over $150 billion. Asian stocks closed mixed.
Technicals
The SPY traded slightly higher initially in Friday’s session to then drift lower and close negative on the day. Support will lie at the low of Friday’s range at 208.86, followed by 208.20, and the 200 day moving average at 206.56. Resistance lies at multiple points slightly above current levels. The first point of resistance lies at 210.12, followed by 210.32, and descending resistance at 210.60.
Small Cap Watch List
CANF: Can-Fite Biopharma – announces development of its drug candidate CF102 will be expanded beyond hepatocellular carcinoma, into treatment for non-alcoholic steatohepatitis. Gapping up 40% with a 9.57M share float.
**Others On Watch**
SRPT
MNK
GME
Economic Calendar
| 9:45 Manufacturing PMI Est. 53.9, Previous 54.1
10:00 Existing Home Sales Est 5.4M, Previous 5.55M 10:00 Existing Home Sales (MoM) Est. -2%, Previous 4.7% |
Notable Earnings Before Open
GME: Gamestop – EPS Est. $.59, Rev Est. $2.14B
MNK: Mallinckrodt PLC – EPS Est. $1.763, Rev Est. $870.52M
TSN: Tyson Foods – EPS Est. $.88 Rev Est. $10.3B
Notable Earnings After Close
BRCD: Brocade Communications – EPS Est. $.244, Rev Est. $575.1M
PANW: Palo Alto Networks – EPS Est. $.318, Rev Est. $284.4M
