Thursday, July 28, 2016
Economic Calendar & Watch Lists 7/28/2016
Morning Notes
US Futures are slightly higher this morning led by a strong move higher in FB after it posted strong quarterly results late yesterday. European stocks are trading modestly lower by over -.50% and Asian markets closed mostly mixed.
Technicals
The SPY remains in its consolidation period near all time highs as we move into the busiest earnings day of the quarter. Support will lie at the low of yesterday’s range at $215.62, closely followed by $215.31, $214.35, and the former macro ascending resistance which lies at $214. Resistance lies at the high of yesterday’s range at $217.27, closely followed by $217.30 and all time highs at $217.37.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
Economic Calendar
8:30 Weekly initial unemployment claims expected +8,000 to 261,000
8:30 USDA weekly Export Sales
11:00 Jul Kansas City Fed manufacturing activity expected +2 to 4
1:00 Treasury auctions $28 billion of 7-year T-notes
Notable Earnings Before Open
ARIA: Ariad Pharmaceuticals – EPS Est. $(.10), Rev Est. $60.64M
ALXN: Alexion Pharmaceuticals – EPS Est. $1.18, Rev Est. $743.18M
BMY: Bristol Myers Squibb – EPS Est. $.67, Rev Est. $4.62B
CAB: Cabela’s – EPS Est. $.61, Rev Est. $905.78M
CELG: Celgene – EPS Est. $1.38, Rev Est. $2.7B
CLF: Cliff’s Naturals – EPS Est. $.02, Rev Est. $N/A
F: Ford Motor – EPS Est. $.60, Rev Est. $36.29B
GRUB: Grub Hub – EPS Est. $.19, Rev Est. $114.13M
IGT: International Gaming Technology – EPS Est. $.47, Rev Est. $1.26B
LLL: L-3 Communications – EPS Est. $1.68, Rev Est. $2.49B
Notable Earnings After Close
ACRX: Acelrx – EPS Est. $(.23) Rev Est. $N/A
GOOG: Alphabet Class C – EPS Est. $0.00, Rev Est. $N/A
AMZN: Amazon – EPS Est. $1.14, Rev Est. $29.54B
BIDU: Baidu – EPS Est. $.94, Rev Est. $18.29B
July 28th Swing Watch List
$GERN – Long entry is over 2.80, stop 2.70. Target is 3.30.
$HTZ – Looking for an obvious short entry under the 50.00 mark. Stop will be 51. Target is 47.50.
