Thursday August 27, 2015
Economic Calendar & Watch List 8/27/2015
Morning Notes
US futures are higher this morning by over 1% and European stocks are up over 3% fueled by a rally in crude oil which is helping mining and energy stocks move higher. Asian stocks closed higher.
Technicals
The SPY moved higher in yesterday’s session successfully holding its gains and closing near the high at $194.46. New support will lie at the low of yesterday’s range at $188.37, followed by $186.92. Resistance overhead lies at the high of yesterday’s range at $194.79, followed by the high of Tuesday at $195.45 and $195.84. A move through $195.45 puts us into the gap until $197.52.
In Play
NQ: NQ Mobile – The company is selling its online game publishing unit to one of Tsinghua Holding‘s investment unit, in a deal valued at a minimum of 4 billion yuan, or $626 million. Tsinghua has been most notable as it expressed its interest to buy U.S.-based Micron (MU). Gapping up 58% with a 75M share float.
TBIO: TransGenomic Inc – The company announced it has Added Asia Distributors for Its ICEme™ Kits That Enable Liquid Biopsy-Based Genomics Cancer Research on Existing Platforms. Gapping up 33% with a 10.6M share float.
**Others On Watch**
DG
TIF
SPY
Economic Calendar
8:30 Weekly initial unemployment claims expected -2,000 to 275,000
8:30 Revised Q2 GDP expected +3.2%
8:30 USDA weekly Export Sales.
10:00 Jul pending home sales expected +1.0% m/m
11:00 Aug Kansas City Fed manufacturing activity expected +3 to -4
1:00 Treasury auctions $29 billion of 7-year T-notes
Earnings Before Open
DG: Dollar General Corp. – EPS Est. $.94, Rev Est. $5.14B
TIF: Tiffany & Co. – EPS Est. $.91, Rev Est. $1B
SJM: J M Smucker Co – EPS Est. $1.23, Rev Est. $1.9B
SIG: Signet Jewelers – EPS Est. $1.15, Rev Est. $1.38B
Earnings After Close
GME: GameStop Corp. – EPS Est. $.25, Rev Est. $1.74B
ULTA: Ulta Salon – EPS Est. $1.12, Rev Est. $869.76M
SWHC: Smith & Wesson – EPS Est. $.22, Rev Est. $142.76M
