Tuesday May 19, 2015
Economic Calendar 5/19/2015
Morning Notes
US Futures are higher this morning after a record close in the markets yesterday. Futures are also being bumped by news out of Europe that the ECB will increase its QE purchase program into the summer months. Asian Markets closed higher.
Technicals
The $SPY continued higher in yesterday’s session closing at record highs of $213.10. Uper support remains $211.90 acting as a pivot point. Resistance will be at the high of yesterday, $213.40.
In Play
MOMO: Momo Inc. – The Company posted Q1 financial results that showed adjusted profit beat all estimates. Gapping up 25% with a 46M share float and over 13% short interest.
MNGA: MagneGas – The Company announced news that it has been requested to demonstrate its product to the top 10 utility companies in the nation. Gapping up 15% with a 24.9M share float.
BIOC: Biocept – The Company reported positive Q1 financial results and announced a number of positive developments. Gapping up 5% with a 13M share float.
GIGA: Giga-Tronics – The Company reported news that it has completed an order worth 10M for YIG filters for an aerospace company. Gapping up 20% on a 3.3M share float.
Economic Calendar
8:30 Housing Starts Apr – Consensus 1.02M
8:30 Housing Starts Apr
8:30 Building Permits Apr – Consensus 1.04M
8:30 Building Permits Apr
Earnings Before Open
HD: Home Depot – EPS Est. $1.15, Rev Est. $20.82B
WMT: Walmart – EPS Est. $1.04, Rev Est. $116.32B
MDT: Medtronic – EPS Est. $1.10, Rev Est. $7.08B
TJX: TJX Companies – EPS Est. $0.67, Rev Est. $6.80B
Earnings After Close
ADSK: Autodesk – EPS Est. $0.28, Rev Est. $636.56M
CSC: Computer Sciences – EPS Est. $1.20, Rev Est. $2.99B
QIHU: Qihoo 360 Technology – EPS Est. $0.49, Rev Est. $378.12M
Happy Trading!
