Thursday September 3, 2015
Economic Calendar & Watch List 9/3/2015
Morning Notes
US futures are slightly higher this morning and European markets are trading over 1.2% higher as China is on a holiday giving a break from the recent volatile financial market movements. Also boosting European markets is their August PMI which exhibited the fastest pace of growth since 2012.
Technicals
The SPY traded higher in yesterday’s session closing near the highs of the day and just above resistance. New support will be at the low of yesterday’s range at $192.42, followed by $190.73. Resistance lies at the high of yesterday’s range at $195.46, followed by $197.01.
In Play
CERE: Ceres – The company announced it has expanded commercial evaluations of its improved forage hybrids in Puerto Rico. Growers and dairies on the island territory have planted multiple, commercial-scale evaluations of Ceres’ seed products in order to diversify their supply of feed and forage. Gapping up 19% with a 5M share float.
GEVO: Gevo – The company announced that Harbor Marina at Lake Pomme de Terre in Missouri is the first U.S. marina to sell gasoline blended with Gevo’s renewable isobutanol at the pump. Gapping up 10% with a 16M share float.
GERN: Geron – The company announced that the New England Journal of Medicine was going to publish two papers showing positive results for its drug imetelstat. Gapping up 20% with a 157M share float.
**Others On Watch**
ACAD
COST
MDT
Economic Calendar
8:30 Weekly initial unemployment claims expected +4,000 to 275,000, previous -6,000 to 271,000
8:30 Jul trade balance expected -$42.20 billion
8:30 USDA weekly Export Sales
9:45 Final-Aug Markit U.S. services PMI expected -0.2 to 55.0
10:00 Aug ISM non-manufacturing PMI expected -2.1 to 58.2
11:00 Treasury announces amount of 3-year T-notes
Earnings Before Open
JOY: Joy Global – EPS Est. $.60, Rev Est. $799M
CIEN: Ciena – EPS Est. $.33, Rev Est. $629.44M
MDT: MedTronic – EPS Est. $1.00, Rev Est. $7.06B
Earnings After Close
PAY: VeriFone Systems – EPS Est. $.46, Rev Est. $500.8M
BLOX: Infoblox – EPS Est. $.11, Rev Est. $81.25M
