Futures Lower

In After Hours Trading

IPOs on deck ContraFact, Innocoll AG, El Pollo Loco Holdings, Ocular Therapeutix, Orion Engineered Carbons S.A. and Advanced Drainage Systems. Secondaries on deck today include AGTC FPI GSJK LOAN .

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BIDU+.35, UHS+.30, BCR+.29, RGA+.26, SBAC+.16, CYN+.14, SIVB+.13, DLB+.11, V+.08, CBI+.08, PFG+.07, RFMD+.07, VRSN+.04, ALTR+.04, ALGN+.04, FSL+.03, FLEX+.03, N+.03, RSG+.02, IM+.02, FET+.02, LEG+.02, TPX-.02, MXIM-.05, KLAC-.06, VR-.08, AMZN-.12, CB-.19, WCG-.97

What’s Happening This Morning

US futures: S&P 500 -2.50, Dow Jones -12 and NDX -10.50 with fair values flatish. Asia higher and Europe lower. Copper, silver and gold higher. WTI Crude and Brent Oil Futures lower. 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): none

Due Monday morning (by market cap descending): CMI, WYNN, ROP, TSN, RPM, LECO, AHGP, TEN, ARLP, CMP, AWI

Rags & Mags: Inside Wall Street

USA Today: Fox sells stakes in some European assets to raise cash for Time Warner purchase. China declares Qualcomm (QCOM) a monopoly.

NY Times: Losses pile up at Amazon (AMZN).

Futures Higher

In After Hours Trading

IPOs on deck Immune Design, Mapi Pharma, Pfenex, Spark Energy, Townsquare Media, Intersect ENT. Secondaries on deck today include GOV NYLD.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): GILD+.56, HBI+.20, SLG+.18, CTXS+.17, TER+.13, QCOM+.10, CSGP+.10, FB+.10, RJF+.09, AIZ+.08, GGG+.08, ILMN+.07, CA+.05, ORLY+.05, NXPI+.04, UMPQ+.04, FFIV+.04, AVB+.03, PTC+.03, WFT+.03, MAC+.02, EFX+.02, OHI+.02, CCI-.03, TMK-.05, TEX-.05, TRIP-.06, AWH-.12, ALSN-.28, RE-.48

What’s Happening This Morning

US futures: S&P 500 +4.50, Dow Jones +26 and NDX +13.50 with fair values flatish. Asia higher ex Japan and Europe higher. Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield flat. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): AMZN, V, BIDU, SBUX, CB, CERN, PFG, SBAC, RSG, KLAC, BCR, ALTR, SRCL, UHS, MXIM, MTD, CBI, FSL, FLEX, VRSN, N, P, RGA, SIVB, IM, ITMN, LEG, DLB, ALGN, WRI, CYN, INFA, TPX, SWFT, VR, FET, WOOF, AWAY, RGC, FII, EPR.

Due Friday morning (by market cap descending): ABBV, LYB, COV, AON, AEP, TYC, MCO, XRX, DTE, SWK, LEA, IDXX, WBC, NS, AVY, PB, MOG.A, FNFG.

Rags & Mags: Inside Wall Street

USA Today: General Motors (GM) loss exceeds $1 billion due to recall. S&P 500 approaches 2000. FAA lifts flight restriction to Israel.

NY Times: Wind power grows in Texas. Obama Administration wants retroactive legislation on tax inversions. Facebook (FB) earnings driven by Mobile.

Futures Higher

In After Hours Trading

11 IPOs on deck including Medical Transcripion Billing. Secondaries on deck today include LIQT LJPC.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CBST+.28, EA+.23, ACE+.19, FTI+.09, LLTC+.08, AAPL+.05, DFS+.05, BRCM+.04, RHI+.03, ACC+.03, VMW+.02, JNPR+.02, IEX+.02, ISRG-.03, MSFT-.05, EXP-.12.

What’s Happening This Morning

US futures: S&P 500 +2.50 Dow Jones +13 NDX +13.50 with fair values higher but still a very positive open. Asia and Europe higher. Copper lower with silver but gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is flat vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury yield flat. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): T, FB, QCOM, GILD, CCI, ILMN, AVB, WFT, NXPI, ORLY, TRIP, CA, SLG, CTXS, FLS, HBI, MAC, EFX, VAR, TSCO, FFIV, OII, RE, CLB, TMK, RJF, ETFC, ALSN, OHI, AIZ, CSGP, GGG, PTC, TEX, FTNT, TER, AWH, LHO, UMPQ, SLM, TQNT.

Due Thursday morning (by market cap descending): MMM, UNP, BMY, LLY, F, CELG, CAT, GM, PCP, ALXN, AAL, POT, RTN, WIT, NOK, NBL, TROW, HSY, KKR, RCI, LUV, ZMH, BSX, UAL, ABC, NUE, HOT, ECA, EQT, CAM, COG, UA, RCL, SIAL, CCE, DPS, O, WYN, CNX, DGX, IMS, CMS, ARG, DHI, WAB, PHM, JAH, NDAQ, DO, ALK, LAZ, RS, PTEN, FLIR, DNKN, EQM, ORI, GNTX, WCC, CAB, BMS, USG, DST, BC, CRI, GPK, PDS, DAN, TDY, BPOP, BKU, JBLU, FAF.

Rags & Mags: Inside Wall Street

USA Today: Secretary of State Kerry to Israel to produce a cease fire. Pepsi (PEP) beats and raises outlook. Microcap rollercoaster.

NY Times: The Federal Reserve is taking on Deutsche Bank on its oversight and reporting efforts.

Other News: Apple (AAPL) to face another class action employee lawsuit for violation of California law for lunch breaks, rest breaks and final paychecks.

 

Futures Higher

In After Hours Trading

11 IPOs on deck including El Pollo Loco Holdings. Secondaries on deck today include CBAY FANG.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CMG+.41, ZION+.11, WWD+.08, PKG+.06, CNI+.04, TXN+.03, APAM+.02, ATR-.03, BRO-.03

What’s Happening This Morning

US futures: S&P 500 +6.50 Dow Jones +51 NDX +14.50 with fair values higher but still a very positive open. Asia and Europe higher. Copper higher with silver and gold lower. 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 +2. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): AAPL, MSFT, VMW, ACE, DFS, BRCM, ISRG, FTI, XLNX, HTZ, EA, JNPR, LLTC, NBR, RHI, IEX, TSS, CBST, EXP, ACC

Due Wednesday morning (by market cap descending): PEP, BA, BIIB, DOW, EMC, SPG, ABB, TMO, GD, FCX, PX, NSC, DAL, APD, NOC, TEL, APH, CHKP, WHR, BEAV, STM, GRA, NYCB, OCR, SEIC, HCBK, RES, R, OC, ROL, TUP, SLGN, FDML

Rags & Mags: Inside Wall Street

USA Today: Israel hits 5 mosques in Gaza. Interview with IMAX CEO Geifond. Hedge fund manager Bill Ackman pledges to crush Herbalife (HLF). 9 stocks to avoid, Chipotle (CMG) cranks out strong earnings.

Other News: European leaders discuss arms embargo against Russia.

 

Futures Down

In After Hours Trading

11 IPOs on deck including El Pollo Loco Holdings. Secondaries on deck CBAY LIQT LOAN.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none

What’s Happening This Morning

US futures: S&P 500 -4.50 Dow Jones -41 NDX -3.50 with fair values higher hurting the open. Asia and Europe lower. Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and flat vs. Yen. US 10 year Treasury yield no change. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): CNI, TXN, NFLX, CMG, CCK, PKG, WCN, ZION, CDNS, BRO, ATR, STLD, HXL, POL, ELS, WWD

Due Tuesday morning (by market cap descending): VZ, KO, CMCSA, UTX, MCD, MO, DD, LMT, CS, KMB, TRV, STT, PLD, ARMH, MJN, OMC, AMTD, IR, HOG, RF, TCK, COL, PII, WAT, CIT, GCI, HUB.B, AOS, SBNY, LPT, CSL, ATI, CNC, BTU, PACW, DPZ, EDU, SNV, FMER

Rags & Mags: Inside Wall Street

USA Today: Gaza conflict sees bloodiest day. China supplier sold McDonalds and KFC expired meat. Dr. Doom Marc Faber sounds warning bell again. Colorado underestimated pot demand.

NY Times: Pressure rises on Russian President Putin. Whirlpool (WHR) pushes Congress to ban class action suits tied to Energy Star Program.

Futures On The Rebound

In After Hours Trading

IPOs on deck today Globant SA, Microlin Bio, Medical Transcription Billing, Pfenex, Sage Therapeutics, TerraFrom Power, Trupanion, TubeMogul. Secondaries on deck today include TGP. IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CE+.23, COF+.20, CYT+.18, ATHN+.10, PBCT+.04, SWKS+.03, SLB+.02, CPHD+.02, GOOG-.15. AMD off sharply in after hours on guidance.

What’s Happening This Morning

US futures: S&P 500 +2 Dow Jones +2 NDX +8.30 with fair values lower adding to the open. Asia and Europe lower. Copper,silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher 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): none

Due Monday morning (by market cap descending): HAL, PHG, BBT, STI, GPC, HAS, MAN, NVR, LII, SIX

Rags & Mags: Inside Wall Street

USA Today: 401Ks to record highs. Federal Express (FDX) charged with trafficking drugs. Fox bid could unleash wave of media mergers.

NY Times: Russia remains in denial over downing of airliner. Microsoft to lay off 18,000 workers due to Nokia merger.

Other News: Amazon (AMZN) to offer unlimited Kindle for $9.99.

Futures Weak

In After Hours Trading

IPOs on deck today CareDx, Roka BioScience and Terrapin 3 Acquisition. Secondaries on deck today include BNFT CLNY GARS NGL OWW THS.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): URI+.15, SNDK+.02, NAVI+.02, LVS-.04, EPB-.06, KMP-.15. SNDK offers poor guidance and is off sharply in after hours.

What’s Happening This Morning

US futures: S&P 500 -10 Dow Jones -55 NDX -23 with fair values higher taking away from the open. Asia and Europe lower. Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is lower vs Euro, higher 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): GOOGL, IBM, SLB, COF, SYK, STX, CE, SWKS, ATHN, PBCT, VMI, FFIN, CYT, AMD, CPHD

Due Friday morning (by market cap descending): GE, HON, BK, ERIC, JCI, VFC, KSU, ALV, LH, IPG, HBAN

Rags & Mags: Inside Wall Street

USA Today: Russian stocks feel squeeze of U.S. sanctions. Who is Rupert Murdoch?

NY Times: Media mergers may heat up.

 

Futures Positive

In After Hours Trading

IPOs on deck today iRadimed, Microlin Bio and 1347 Capital. Secondaries on deck today include ARCC BIOA IRT.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): INTC +.02

What’s Happening This Morning

US futures: S&P 500 +7 Dow Jones +55 NDX +23 with fair values lower adding to the open. Asia mixed to lower and Europe higher. Copper lower with silver lower and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher 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): EBAY, LVS, KMI, KMP, YUM, SNDK, URI, EPB, EWBC

Due Thursday morning (by market cap descending): NVS, PM, TSM, SAP, UNH, MS, DHR, BAX, BX, CP, BHI, PPG, SHW, FITB, GWW, MTB, ADS, DOV, MAT, KEY, AN, SNA, SON, SYNT, WSO

Rags & Mags: Inside Wall Street

USA Today: Apple (AAPL) and IBM team up to hit corporate market.

NY Times: Israelis attacked homes of several Hamas leaders overnight. Full invasion may be imminent. Yellen testimony reviewed.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BLK+.43, BAC+.12, ASML+.10, PNC+.07, ABT+.03, STJ+.02, TXT-.02, FRC-.04.

Data Points

Yesterday saw 1051 stocks rise and 1998 fall on the NYSE. NASDAQ saw 760 rise and 1921 fall.

The SP 500 is above its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is now above its 50 day moving exponential average and above its 200 day exponential moving average. Miracles occur.

The 10 day spread moving average of breadth is now invested. The Madison Market Timing Indicator is now in cash.

YTD 4349 (+323) stocks are higher for the year and 2468 (-376) are lower. Updated 7/14/14 Close. Last Update 6/5/14 close.

Economics

June PPI is due out at 8:30 a.m. EDT and is expected to rise to 0.2% from -0.2%. Then at 9:15 a.m. EDT, June Industrial Production is expected to remain at 0.6%.

Federal Reserve Chairman Yellen testifies before the House Finance & Banking Committee in the semiannual Humphrey Hawkins testimony. Day 2.

Politico

The Bank of Canada announces its latest interest rate decision.

At 2:00 p.m. the latest Federal Reserve Beige Book is due out.

Federal Reserve San Francisco President Williams speaks at 11:20 a.m. EDT. Then Federal Reserve Vice Chairman Stanley Fisher speaks at 12:00 p.m. EDT.

Conference & Analyst Meetings

Analyst and investor meetings of note today WSH.

Conference of Note

Annual Shopper Insights In Action Conference.

M & A News

Time Warner (TWX) rejected an $85 per share takeover offer from Fox (FOXA). GTECH S.p.A. to buy International Game & Technology (IGT) for $18.25 per share.

Key Upgrades and Downgrades

 

 

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs BKD PFPT FEYE PANW
Morgan Stanley
Deutsche Bank
Citigroup AAPPL
Merrill Lynch IM
Wachovia/Wells Fargo WAC NSM
Credit Suisse
Banc of America
UBS
Oppenheimer
Needham
Jefferies MLNX RDUS

Futures Positive

In After Hours Trading

Secondaries on deck today include TOUR.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.

What’s Happening This Morning

US futures: S&P 500 +1.50 Dow Jones +29 NDX +7 with fair values lower adding to the open. Asia higher and Europe lower. Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield -1. Prices as of 7:45 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): INTC, YHOO, CSX, CTAS.

Due Wednesday morning (by market cap descending): BAC, USB, ABT, BLK, PNC, ASML, SCHW, STJ, NTRS, TXT, FRC

Rags & Mags: Inside Wall Street

USA Today: Federal Reserve Chairman Yellen to be grilled. Dow Jones Industrial Average moves back above 17,000.

 

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): GS+1.04, JPM+.16, CMA+.03, CBSH+.02.

Data Points

Yesterday saw 1978 stocks rise and 1098 fall on the NYSE. NASDAQ saw 1690 rise and 999 fall.

The SP 500 is above its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is now above its 50 day moving exponential average and above its 200 day exponential moving average. Miracles occur.

The 10 day spread moving average of breadth is now invested. The Madison Market Timing Indicator is now in cash.

YTD 4026 stocks are higher for the year and 2844 are lower. Updated 6/5/14 close.

Economics

June Retail Sales are due out at 8:30 a.m. and are expected to rise to 0.6% from 0.3%. At the same time, the New York Empire Manufacturing Survey is due out and expected to come in at 13.2 from 19.3.

Federal Reserve Chairman Yellen testifies before the Senate Banking Committee in the semiannual Humphrey Hawkins testimony.

Politico

Hamas rejects Israeli truce proposal. Expect an invasion this week.

Conference & Analyst Meetings

Analyst and investor meetings of note today ADHD WSH PRKR.

Conference of Note

Annual Shopper Insights In Action Conference.

M & A News

Reynolds America (RAI) to buy Lorillard (LO) for $68.88 per share including the assumption of debt.

 

Futures Positive Start To Week & Merger Monday

In After Hours Trading

10 IPOs on deck this week.

IPO Financial provides our capital raise data.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.

What’s Happening This Morning

US futures: S&P 500 +8.25 Dow Jones +74 NDX +20 with fair values lower adding to the open. Asia and Europe higher. Copper, silver and gold lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +1. Prices as of 8:05 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending):OZRK WTFC.

Due tomorrow morning (by market cap descending): JNJ, JPM, GS, OMC, CMA, JBHT, CBSH.

Rags & Mags: Inside Wall Street

USA Today: Gap Stores (GPS) June sales fell. Citiggroup to pay $7 billion to government.

NY Times: Samsung has child labor issues. Airbus will upgrade the A330.