Seeking Alpha

Jim Van Meerten's  Instablog

Jim Van Meerten
Send Message
Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
My company:
Marketocracy Capital Management
My blog:
Barchart Portfolio Blogs
  • BARCHART MORNING CALL5 9/ 0 comments
    May 8, 2014 3:22 PM | about stocks: PCLN, DTV, KND, CCRN, RIG, CF, CAR, CTL, CZR, PRU, MDR, TSLA, FOXA, RNDY, UNWL, GMCR, SNI, CVC, PCP, TDC, HCN, REGN, ICE, AES, WIN, AEE, LB, APEI, UPS, NCS, F, NRG, GHC, QEP, RAI, AIZ, NUE, KIM, ECL, BTU, MNST, CBS, NWSA, SYMC, THC, COST, CHRW, MCD

    BARCHART MORNING CALL

    Thursday, May 8th, 2014

    View Older Reports

    Everything you need to know about the markets in one free daily newsletter.

    E-mail: Submit


    You will also receive a free subscription to the Barchart family of newsletters.

    OVERNIGHT MARKETS AND NEWS

    June E-mini S&Ps (ESM14 +0.07%) this morning are up +0.03% and European stocks are up +0.54% after China Apr exports unexpectedly rose, a sign of improvement in global demand. Gains in European stocks were muted after German Mar industrial production unexpectedly fell and ahead of the outcome of today's ECB policy meeting. At the conclusion of its policy meeting today, the BOE as expected maintained its benchmark rate at 0.50% and kept its asset purchase target at 375 billion pounds. Asian stocks closed mostly higher: Japan +0.93%, Hong Kong +0.42%, China -0.09%, Taiwan +0.42%, Australia +0.75%, Singapore +0.35%, South Korea +0.59%, India +0.09%. Asian markets found support on stronger-than-expected Chinese Apr exports along with dovish comments from Fed Chair Yellen who said the Fed will continue to support the U.S. economy. Commodity prices are mixed. Jun crude oil (CLM14 -0.12%) is down -0.40%. Jun gasoline (RBM14 +0.14%) is up +0.03%. Jun gold (GCM14 +0.34%) is up +0.26%. July copper (HGN14 +0.03%) is down -0.05%. Agriculture and livestock prices are mixed. The dollar index (DXY00 -0.13%) is down -0.16%. EUR/USD (^EURUSD) is up +0.24%, just below Tuesday's 1-3/4 month high, amid speculation the ECB will refrain from announcing additional stimulus measures at today's policy meeting. USD/JPY (^USDJPY) is down -0.12%. June T-note prices (ZNM14 -0.06%) are down -2 ticks.

    The China Apr trade balance widened to a +$18.46 billion surplus, more than expectations of a +$16.70 billion surplus. Apr exports unexpectedly increased by +0.9% y/y, better than expectations of -3.0% y/y, and Apr imports rose by +0.8% y/y, also better than expectations of -2.1% y/y.

    German Mar industrial production unexpectedly fell -0.5% m/m, weaker than expectations of +0.2% m/m. On an annual basis, Mar industrial production climbed +3.0% y/y, less than expectations of +4.4% y/y.

    UK Apr Halifax house prices fell -0.2% m/m and rose +8.5% y/y, weaker than expectations of +0.9% m/m and +9.1% y/y.

    U.S. STOCK PREVIEW

    Today's weekly initial unemployment claims report is expected to show a -19,000 decline to 325,000, more than reversing last week's increase of +14,000 to 344,000. Meanwhile, continuing claims are expected to fall -11,000 to 2.760 million, reversing part of last week's increase of +97,000 to 2.771 million. The Treasury today will sell $16 billion of 30-year T-bonds, concluding this week's $69 billion quarterly refunding operation.

    There are 17 of the S&P 500 companies that report earnings today. Notable reports include Computer Sciences (consensus $1.04), Regeneron (2.27), ICE Group (2.61), Priceline (6.84), Apache (1.60), Symantec (0.42). Equity conferences during the remainder of this week include: Bank of America Merrill Lynch Global Transportation Conference on Wed-Thu, Wells Fargo Industrial & Construction Conference on Wed-Thu, Jefferies Global Technology, Media & Telecom Conference on Tue-Thu, and Deutsche Bank Healthcare Conference on Wed-Fri.

    OVERNIGHT U.S. STOCK MOVERS

    Priceline Group (PCLN -3.13%) reported Q1 EPS of $7.81, well above consensus of $6.84.

    The WSJ reported that DirecTV (DTV +7.96%) has engaged Goldman Sachs (GS +0.63%) to evaluate a potential deal with AT&T (T +0.76%) .

    Kindred Healthcare (KND +0.80%) reported Q1 EPS ex-items of 32 cents, below consensus of 33 cents.

    JP Morgan Chase reported a 10.2% passive stake in Cross Country Healthcare (CCRN -5.96%) .

    Transocean (RIG +0.63%) climbed more than 3% in pre-market trading after it reported Q1 adjusted EPS of $1.43, well above consensus of $1.02.

    CF Industries (CF +0.55%) reported Q1 adjusted EPS of $4.51, below consensus of $4.54.

    Avis Budget (CAR +0.28%) reported Q1 EPS ex-items of 16 cents, double consensus of 8 cents.

    CenturyLink (CTL +0.55%) reported Q1 adjusted EPS of 66 cents, better than consensus of 61 cents.

    Caesar's (CZR +14.12%) reported a Q1 EPS loss of -$2.82, a much wider loss than consensus of -$1.15.

    Prudential (PRU +0.99%) reported Q1 EPS of $2.40, higher than consensus of $2.26.

    McDermott (MDR unch) reported a Q1 EPS loss of -21 cents, a wider loss than consensus of -12 cents.

    Tesla (TSLA -2.86%) dropped over 5% in after-hours trading after it reported Q1 EPS of 12 cents, better than consensus of 10 cents, but then said battery cell supply will constrain Q2 production.

    21st Century Fox (FOXA -0.89%) reportED Q3 adjusted EPS OF 47 cents, stronger than consensus of 35 cents.

    Roundy's (RNDY -2.86%) reported Q1 EPS of 1 cents, weaker than consensus of 3 cents.

    Unum Group (UNM +1.57%) reported Q1 adjusted EPS of 87 cents, better than consensus of 85 cents.

    Keurig Green Mountain (GMCR -3.21%) jumped over 6% in after-hours trading after it reported Q2 adjusted EPS of $1.08, higher than consensus of 94 cents.

    MARKET COMMENTS

    June E-mini S&Ps (ESM14 +0.07%) this morning are up +0.50 of a point (+0.03%). The S&P 500 index on Wednesday recovered from a 1-week low and closed higher: S&P 500 +0.56%, Dow Jones +0.72%, Nasdaq -0.28%. Bullish factors included (1) reduced interest rate concerns after Fed Chair Yellen said that the Fed must continue to spur growth as employment and inflation indicators remain below the Fed's goals, and (2) upbeat earnings results with 75% of the 422 S&P 500 companies that have already reported Q1 earnings beating estimates. A negative factor was the -1.7% drop in U.S. Q2 non-farm productivity, the biggest decline in a year and weaker than expectations of -1.2%.

    Jun 10-year T-notes (ZNM14 -0.06%) this morning are down -2 ticks. Jun 10-year T-note futures prices on Wednesday closed higher on comments from Fed Chair Yellen who said a "high degree" of accommodation remains warranted: TYM4 +7.50, FVM4 +6.00. T-note prices also found support from strong foreign demand for the Treasury's $24 billion 10-year T-note auction as indirect bidders, an investor class that includes foreign central banks, bought 49.3% of the notes at auction, higher than the 12-auction average of 43.9%.

    The dollar index (DXY00 -0.13%) this morning is down -0.124 (-0.16%). EUR/USD (^EURUSD) is up +0.0033 (+0.24%). USD/JPY (^USDJPY) is down -0.12 (-0.12%). The dollar index on Wednesday closed higher. Dollar index +0.109 (+0.14%), EUR/USD -0.0017 (-0.12%), USD/JPY +0.218 (+0.21%). The main bullish factor for the dollar was weakness in EUR/USD on long liquidation ahead of Thursday's ECB meeting and after German Mar factory orders unexpectedly declined. Dollar strength was limited after Fed Chair Yellen said that a "high degree" of accommodation remains warranted.

    Jun WTI crude oil (CLM14 -0.12%) this morning is down -40 cents (-0.40%). Jun gasoline (RBM14 +0.14%) is up +0.0008 (+0.03%). Jun crude and gasoline prices on Wednesday closed higher with Jun crude at a 1-week high. Bullish factors included (1) the -1.395 million bbl decline in crude inventories at Cushing, OK, the delivery point of WTI futures, to a 5-1/3 yr low of 24.03 million bbl, and (2) the unexpected -1.781 mln bbl decline in weekly EIA crude inventories versus expectations for a +1.15 million bbl build. Closes: CLM4 +1.27 (+1.28%). RBM4 +0.0324 (+1.12%).

    GLOBAL EVENT CALENDAR05/08/2014

    US0800 ETPhiladelphia Fed President Charles Plosser speaks on Communication and Transparency in the Conduct of Systematic Monetary Policy to the Council on Foreign Relations in New York.
     0830 ETWeekly initial unemployment claims expected -19,000 to 325,000, previous +14,000 to 344,000. Weekly continuing claims expected -13,000 to 2.758 million, previous +97,000 to 2.771 million.
     0830 ETUSDA weekly Export Sales.
     0925 ETChicago Fed President Charles Evans delivers welcoming remarks to the Chicago Feds Bank Regulation Conference.
     0930 ETFed Chair Janet Yellen testifies to the Senate Budget Committee on the economic outlook.
     0930 ETFed Governor Daniel Tarullo delivers keynote address at to the Chicago Feds Bank Regulation Conference.
     1300 ETTreasury auctions $16 billion 30-year T-bonds.
     1400 ETSt. Louis Fed President James Bullard delivers welcoming remarks at a St. Louis Fed conference title The Balance Sheets of Younger Americans: Is the American Dream at Risk?
    GER0200 ETGerman Mar industrial production expected +0.2% m/m and +4.4% y/y, Feb +0.4% m/m and +4.8% y/y.
    UK0700 ETBOE announces interest rate decision and asset purchase target, expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.
    EUR0745 ETECB announces interest rate decision.
     0830 ETECB President Mario Draghi holds monthly press conference following ECB meeting.
    CHI2130 ETChina Apr CPI expected +2.1% y/y, Mar +2.4% y/y. Apr PPI expected -1.9% y/y, Mar -2.3% y/y.

    U.S. STOCK CALENDAR05/08/2014

    Company NameTickerTimeEvent DescriptionPeriodEstimate
    Scripps Networks Interactive IncSNI USBef-mktQ1 2014 Earnings ReleaseQ1 20140.812
    Cablevision Systems CorpCVC USBef-mktQ1 2014 Earnings ReleaseQ1 20140.047
    Precision Castparts CorpPCP USBef-mktQ4 2014 Earnings ReleaseQ4 20143.198
    Teradata CorpTDC USBef-mktQ1 2014 Earnings ReleaseQ1 20140.473
    Health Care REIT IncHCN USBef-mktQ1 2014 Earnings ReleaseQ1 20140.982
    Regeneron Pharmaceuticals IncREGN USBef-mktQ1 2014 Earnings ReleaseQ1 20142.269
    IntercontinentalExchange Group IncICE USBef-mktQ1 2014 Earnings ReleaseQ1 20142.612
    AES Corp/VAAES USBef-mktQ1 2014 Earnings ReleaseQ1 20140.272
    Windstream Holdings IncWIN USBef-mktQ1 2014 Earnings ReleaseQ1 20140.087
    Ameren CorpAEE USBef-mktQ1 2014 Earnings ReleaseQ1 20140.318
    Priceline Group Inc/ThePCLN US7:00Q1 2014 Earnings ReleaseQ1 20146.844
    Priceline Group Inc/ThePCLN US7:30Q1 2014 Earnings CallQ1 2014 
    L Brands IncLB US7:30April 2014 Sales and Revenue Call2014 
    Apache CorpAPA US8:00Q1 2014 Earnings ReleaseQ1 20141.604
    United Parcel Service IncUPS US8:00Annual General MeetingY 2014 
    Norfolk Southern CorpNSC US8:30Annual General MeetingY 2014 
    Teradata CorpTDC US8:30Q1 2014 Earnings CallQ1 2014 
    Regeneron Pharmaceuticals IncREGN US8:30Q1 2014 Earnings CallQ1 2014 
    IntercontinentalExchange Group IncICE US8:30Q1 2014 Earnings CallQ1 2014 
    Ford Motor CoF US8:30Annual General MeetingY 2014 
    Windstream Holdings IncWIN US8:30Q1 2014 Earnings CallQ1 2014 
    Unum GroupUNM US9:00Q1 2014 Earnings CallQ1 2014 
    NRG Energy IncNRG US9:00Annual General Meeting  
    Graham Holdings CoGHC US9:00Annual General MeetingY 2014 
    AES Corp/VAAES US9:00Q1 2014 Earnings CallQ1 2014 
    QEP Resources IncQEP US9:00Q1 2014 Earnings CallQ1 2014 
    Reynolds American IncRAI US9:00Annual General MeetingY 2014 
    Assurant IncAIZ US9:00Annual General Meeting  
    CVS Caremark CorpCVS US9:00Annual General MeetingY 2014 
    Scripps Networks Interactive IncSNI US10:00Q1 2014 Earnings CallQ1 2014 
    Nucor CorpNUE US10:00Annual General Meeting  
    Cablevision Systems CorpCVC US10:00Q1 2014 Earnings CallQ1 2014 
    Precision Castparts CorpPCP US10:00Q4 2014 Earnings CallQ4 2014 
    Health Care REIT IncHCN US10:00Q1 2014 Earnings CallQ1 2014 
    Transocean LtdRIG US10:00Q1 2014 Earnings CallQ1 2014 
    CF Industries Holdings IncCF US10:00Q1 2014 Earnings CallQ1 2014 
    Ameren CorpAEE US10:00Q1 2014 Earnings CallQ1 2014 
    Kimco Realty CorpKIM US10:00Q1 2014 Earnings CallQ1 2014 
    Ecolab IncECL US11:00Annual General MeetingY 2014 
    Peabody Energy CorpBTU US11:00Annual General MeetingY 2014 
    Prudential Financial IncPRU US11:00Q1 2014 Earnings CallQ1 2014 
    Monster Beverage CorpMNST USAft-mktQ1 2014 Earnings ReleaseQ1 20140.49
    CBS CorpCBS USAft-mktQ1 2014 Earnings ReleaseQ1 20140.744
    News CorpNWSA USAft-mktQ3 2014 Earnings ReleaseQ3 20140.03
    Symantec CorpSYMC USAft-mktQ4 2014 Earnings ReleaseQ4 20140.417
    Tenet Healthcare CorpTHC US Annual General Meeting  
    Republic Services IncRSG US Annual General Meeting  
    Gap Inc/TheGPS US April 2014 Sales and Revenue Release2014 
    Costco Wholesale CorpCOST US April 2014 Sales and Revenue Release2014 
    AMETEK IncAME US Annual General Meeting  
    CH Robinson Worldwide IncCHRW US Annual General Meeting  
    L Brands IncLB US April 2014 Sales and Revenue Release2014 
    McDonald's CorpMCD US April 2014 Sales and Revenue Release2014 

    Stocks: PCLN, DTV, KND, CCRN, RIG, CF, CAR, CTL, CZR, PRU, MDR, TSLA, FOXA, RNDY, UNWL, GMCR, SNI, CVC, PCP, TDC, HCN, REGN, ICE, AES, WIN, AEE, LB, APEI, UPS, NCS, F, NRG, GHC, QEP, RAI, AIZ, NUE, KIM, ECL, BTU, MNST, CBS, NWSA, SYMC, THC, COST, CHRW, MCD
Back To Jim Van Meerten's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • $ALV - 100% Barchart technical buy signals - 6 new highs and up 4.75% in the last month - Relative Strength Index 65.03%
    about 5 hours ago
  • $GTIM - 32% Barchart technical sell signals - 18.10% off its recent high - Relative Strength Index 30.32%
    about 6 hours ago
  • $DHX - 40% Barchart technical sell signals - 22.63% off its recent high - Relative Strength Index 47.38%
    about 10 hours ago
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.