Thursday May 21, 2015
Economic Calendar 5/21/2015
Morning Notes
US Futures are slightly lower this morning ahead of a busy economic calendar including existing home sales and weekly jobless claims. Yesterday the fed released the minutes from their April meeting noting that interest rates could be raised at any meeting. Europe is currently down -0.5% and Asia closed lower.
Technicals
The $SPY tested new highs in yesterday’s session but closed well off the highs at $212.88, lower than Tuesday’s close. The first level of support is to be tested is at $212.25-$212. Next support below lies at $210.9. Watch for the upper range support of $212 to hold for continuation.
In Play
AMPE: Ampio Pharmaceuticals Inc. – The Company announced positive results from the study on Optina, a drug used to treat Macular Edema, a disorder in the eyes. Gapping up 30% with a 37M share float.
CALA: Calithera Biosciences – The Company announced positive Phase I Data for safety with use of its drug to treat Acute Leukemia. Gapping up 23% with an 8.3M share float.
ATNM: Actinium Pharmaceuticals Inc. – The Company announced that they would be presenting trial data on their Actimab – A at the 2015 ASCO conference on May 31. Gapping up 20% with a 29.6M share float.
PRAN: Prana Biotechnology – The Company announced positive updates from the recent “Orphan Drug Designation” it had received for its drug PBT2 in Europe. Gapping up 18% with a 45.6M share float.
Economic Calendar
8:30 Chicago Fed National Activity
8:30 Philly Fed Mfg. Index – Consensus 8.00
8:30 Initial Jobless Claims – Consensus 271.0K
8:30 Continuing Jobless Claims – Consensus 2.23M
8:30 Jobless Claims 4-Wk Avg
10:00 Existing Home Sales (MoM) – Consensus 1.00%
10:00 Existing Home Sales – Consensus 5.24M
10:00 KC Fed Composite Index
10:00 KC Fed Mfg. Index
Earnings Before Open
BBY: Best Buy – EPS Est. $0.29, Rev Est. $8.49B
AAP: Advanced Auto Parts – EPS Est. $2.49, Rev Est. $3.05B
Earnings After Close
GPS: Gap – EPS Est. $0.56, Rev Est. $3.75B
HPQ: Hewlett-Packard – EPS Est. $0.86, Rev Est. $25.68B
ARO: Aeropostale – EPS Est. $(0.55), Rev Est. $324.91M
BRCD: Brocade Comm – EPS Est. $0.20, Rev Est. $551.33M
Happy Trading!
