Wednesday August 12, 2015
Economic Calendar & Watch List 8/12/2015
Morning Notes
US futures are sharply lower this morning by nearly -1% while European markets are trading lower by nearly -2% on fears that a slowdown in China could severely affect global growth. Asian stocks closed sharply lower.
Technicals
The SPY closed lower at $208.67 in yesterday’s session after testing resistance and the 50 day moving average. Resistance will be at the high of yesterday’s range at $209.47 followed closely by the 50 day moving average at $209.69. Support will be at the low of yesterday’s range at $207.76, followed by the 200 day moving average beneath at $207.53.
In Play
CERE: Ceres Inc – The company announced it has been awarded a U.S. patent for its iCODE multi-gene trait development system. The company indicated that the patent award is a key milestone in its plan to further develop and license this technology to other crop companies and organizations. Gapping up 140% with a 5M share float.
SLTD: Solar3D, inc – a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, announced today that it has signed a definitive agreement to acquire 100% of Elite Solar, a Durham, California-based solar systems provider. The purchase is a continuation of Solar3D’s aggressive growth-by-acquisition strategy, which is intended to boost the company’s top line revenue as well as operating earnings. Gapping up 11% with a 14.5M share float.
**Others On Watch**
BABA
M
CYBR
W
Economic Calendar
10:00 JOLTs Job Openings – Consensus 5.30M
10:30 EIA Gasoline Inventory – Consensus (1.03M) Barrels
10:30 EIA Weekly Distillates – Consensus 1.20M Barrels
10:30 EIA Crude Oil Inventories – Consensus (1.77M) Barrels
2:00 Federal Budget Balance – Consensus ($103.00B)
Earnings Before Open
M: Macy’s – EPS Est. $0.78, Rev Est. $6.25B
Earnings After Close
CSCO: Cisco Systems – EPS Est. $0.56, Rev Est. $12.66B
NWSA: News Corp. – EPS Est. $0.06, Rev Est. $2.20B
TGB: Taseko Mining – EPS Est. $(0.03), Rev Est. $96.48M
