Futures Up Slightly

May 22, 2015

In After Hours Trading

IPOs on deck today none of note. Secondaries on deck EOX FLT HSTM NVEE VGGL VWR.

In After Hours Trading: INTU+.11, ROST+.05, MRVL+.02, BRCD+.02, LGF-.02.

What’s Happening This Morning

U.S. futures: S&P +0.50, Dow Jones +5, NDX +4 and Russell 2000 +1.10 with fair value mixed. Asia higher and Europe mixed.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -3. Prices as of 7:45 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): none of note.

Due Tuesday morning (by avg. trade volume descending): AZO, CAE.

Rags & Mags: Inside Wall Street

USA Today: Lumber Liquidators (LL) CEO resigned on Thursday. Hewlett Packard (HPQ) beat estimates by $0.02 and sold a China unit. Existing home sales came in weak yesterday.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DE+.47, CPB+.10, FL+.06.

Current Morning missing: ANN, MENT, TNP.

Delta Airlines (DAL)

Delta Airlines (DAL) has seen its stock price fall from above $50 to a close of $43.75. So the $64,000 question is the stock price cheap yet?

dal

Futures Lower

May 21, 2015

In After Hours Trading

IPOs on deck today Baozun, Community Health Trust, PGA Holdings and Shopify. Secondaries on deck AGEN D DRNA FATE MBUU NPTN SABR WAVX.

In After Hours Trading: SNPS+.05, WSM+.04, CRM+.02, NTAP-.07, YOKU-.15.

What’s Happening This Morning

U.S. futures: S&P -2.50, Dow Jones -17, NDX -10 and Russell 2000 -1.80 with fair value mixed. Asia higher ex Hong Kong and Europe lower ex the U.K.

Copper,silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -2. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): HPQ, MRVL, GPS, BRCD, JMEI, WUBA, ARO, ROST, LGF, INTU, TC, DANG, DRC,TFM.

Due Friday morning (by avg. trade volume descending): DE, FL, CPB, ANN, MENT, TNP.

Rags & Mags: Inside Wall Street

USA Today: ISIS take control of Palmyra ruins. China demands U.S. plane leave island airspace. Fed concerned about future “taper tantrums”. Airline stocks fall on increased capacity in the fall.

Shutterfly (SFLY)

Shutterfly (SFLY) is slowly but surely clawing its way out of the gutter after hitting a low of $40 back in January. That said, there is still a great of upside left in the this name before its price target is hit.

sfly

Futures Flat

May 20, 2015

In After Hours Trading

IPOs on deck today Black Knight Financial Services and Shopify. Secondaries on deck ESNT LOCO MNTA NCLH PCTY XEC.

In After Hours Trading: QIHU+.09, CSC+.06, KEYS+.05,HEI+.04, ADSK+.02, NDSN-.06, VSAT-.06, ETSY-.84.

What’s Happening This Morning

U.S. futures: S&P -0.75, Dow Jones +0, NDX +1.50 and Russell 2000 +0.50 with fair value mixed. Asia higher ex Hong Kong and Europe lower ex the U.K.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield +3. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): CRM, NTAP, YOKU, LB, WSM, BOX, SNPS, EGHT, RXN.

Due Thursday morning (by avg. trade volume descending): BBY, TSL, DLTR, PDCO, AAP, NM, SHLD, BAH, DCI, TTC.

Rags & Mags: Inside Wall Street

USA Today: President Obama calls climate change a national security threat. UBS to pay $54 million in fines on manipulation probe. Oil pipeline breaks off California coast, near Santa Barbara.

Reported Earnings This Morning

Salesforce.com (CRM)

Salesforce.com (CRM) will report earnings after the close. Estimates are for earnings of $0.14 versus $0.11. Decent growth but not enough for such a high priced stock. The stock is well above its price target and only fractionally below its upper limit. For now we would eschew this name.

crm

Wal-Mart (WMT)

Wal-Mart (WMT) will report earnings befor the open. Estimates are $1.05 versus $1.10. Anemic growth. Despite this, the stock rates favorable in the scorecard and is worth a look if it can close above $80. 

wmt

Futures Lower

May 18, 2015

In After Hours Trading

5 IPOs on deck this week including Black Knight Financial Services and Shopify. Secondaries on deck this week, none of note so far.

In After Hours Trading: KITE -0.54.

What’s Happening This Morning

U.S. futures: S&P -4.75, Dow Jones -26, NDX -14.50 and Russell 2000 -3.50 with fair value mixed. Asia lower ex Japan and Europe lower.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +1. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): A, URBN, TTWO, LF, NOAH.

Due Monday morning (by avg. trade volume descending): WMT, HD, TJX, WBAI, EJ, AINV, CMCM, DKS.

Rags & Mags: Inside Wall Street

USA Today: A big week ahead for stocks as investors see how Wal-Mart (WMT) and Target (TGT) fared. Expensive stocks that are really bargain, BIIB GOOGL ACT CMG PCLN ISRG BRKA.

Bloomberg: Greek banks are running out of collateral. Expect deal soon. Q Ratio says that stocks are expensive. ISIS takes control of Ramadi.

Another Merger Monday

Another Monday and another merger. This time a public company is buying a private company. Endo International PLC (ENDP) is buying privately held Par Pharmaceuticals for $8.05 billion. Private Equity firm TPG was the owner of Par after it took the company private in 2008

http://nyti.ms/1L13PL5

Photronics (PLAB)

Photronics (PLAB) will report earnings on Monday after the close. Earnings are expected to be $0.11 versus $0.02. There is about 5% upside to the price target and 37% to the upper limit. The stock has been in a narrow range since December 2013. Worth a look. 

plab