Wednesday October 21, 2015
Economic Calendar & Watch List 10/21/2015
Morning Notes
US futures are higher this morning and European stocks are trading higher by over +.5% as chatter that the BOJ (Bank of Japan) may have to increase the QE as recent economic numbers have slowed which fueled Japan’s Nikkei Index rally overnight. Merger and Acquisition news surfaced overnight that WDC would be acquiring SNDK for $85.10/share. In addition, LRCX agreed to buy KLAC for $67/share.
Technicals
The SPY traded slightly higher again in yesterday’s session testing resistance and moving back off the highs. Support will lie at the low of yesterday’s range at $202.55, followed by $202.13 and $199.64. Resistance lies at the high of yesterday’s range which also coincides with 8/21/2015, the day prior to the flash crash at $203.90 which then opens up to the 200 day moving average at $206.
Small Cap Watch List
XOMA: XOMA – The company announced it has entered into an exclusive license agreement with Novartis NVS. Gapping up 9% with a 110.5M share float.
**Others On Watch**
VMW
ARMH
TWTR
Economic Calendar
10:30 EIA Weekly Petroleum Status Report
1:30 Fed’s Powell moderates panel on market liquidity in New York
Earnings Before Open
BA: Boeing – EPS Est. $2.14, Rev Est. $24.38
GM: General Motors – EPS Est. $1.15, Rev Est. $28.58B
KO: Coca -Cola – EPS Est. $.51 Rev Est. $11.66B
ABT: Abbott Laboratories – EPS Est. $.53, Rev Est. $5.5B
BHI: Baker Hughes – EPS Est. $(.14), Rev Est. $3.79B
KMB: Kimberly Clark – EPS Est. $1.49, Rev Est. $4.65B
BIIB: Biogen – EPS Est. $3.8, Rev Est. $2.65B
NLSN: Nielsen – EPS Est. $.66, Rev Est. $1.54B
EMC: EMC Corp – EPS Est. $.44, Rev Est. $6.06
STJ: St. Jude Medical – EPS Est. $.97 Rev Est. $1.35
Earnings After Close
LRCX: Lam Research – EPS Est. $1.7, Rev Est. $1.6B
SNDK: Sandisk – EPS Est. $.80, Rev Est. $1.4B
URI: United Rentals – EPS Est. $2.35, Rev Est. $1.5B
EBAY: eBay – EPS Est. $.40, Rev Est. $2.1B
KMI: Kinder Morgan – EPS Est. $.18, Rev Est. $3.83B
AXP: American Express – EPS Est. $1.31, Rev Est. $8.32B
