Thursday October 27, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are pointing slightly higher this morning while European markets trade flat to slightly lower. Asian stocks closed mostly lower. For M&A activity, QCOM will buy NXPI for $47B.
Technicals
The SPY attempted to push higher throughout yesterday’s session but could not break the 100 day moving average and closed out well off the intra day highs. Support will lie at the low of yesterday’s range at $212.94, followed by $212.76, and the support pivot at $212.50. Resistance will lie at the 100 day moving average at $214.34, followed by the high of yesterday’s range at $214.42, then $214.98, $215.32, $215.74, and the 50 day moving average at $215.75.
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 -5,000 to 255K
8:30 Sep durable goods orders expected unch and +0.2% ex trans
8:30 USDA weekly Export Sales
10:00 Sep pending home sales expected +1.1% m/m
11:00 Oct Kansas City Fed manufacturing activity survey expected -3 to 3
Notable Earnings Before Open
AET: Aetna – EPS Est. $2.02, Rev. Est. $15.76B
MO: Altria – EPS Est. $.81, Rev. Est. $5.12B
BMY: Bristol Meyers – EPS Est. $.65, Rev. Est. $4.74B
CELG: Celgene – EPS Est. $1.48, Rev. Est. $2.85B
CLF: Cliffs Natural – EPS Est. $.19, Rev. Est. $595.73M
COP: Conoco Phillips – EPS Est. $(.69), Rev. Est. $6.36B
GNC: GNC Holdings – EPS Est. $.71, Rev. Est. $648.14M
SRPT: Sarepta – EPS Est. $(1.35), Rev. Est. $6.35M
TWTR: Twitter – EPS Est. $.09, Rev. Est. $606.57M
Notable Earnings After Close
GOOG: Alphabet – EPS Est. $NA Rev. Est. $NA
AMZN: Amazon – EPS Est. $.85, Rev. Est. $32.56B
AMGN: Amgen – EPS Est. $2.79, Rev. Est. $5.75B
BIDU: Baidu – EPS Est. $1.11, Rev. Est. $2.62B
CRUS: Cirrus Logic – EPS Est. $1.05, Rev. Est. $396.24M
EXPE: Expedia – EPS Est. $2.5, Rev. Est. $2.56B