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Proprietary Trading Morning Market Update June 26 2013

US Stocks Rise After GDP Report. U.S. stocks rose, sending the Standard & Poor's 500 Index (SPX) higher for a second day, as China's cash crunch eased and slower-than-forecast economic growth fueled speculation the Federal Reserve will maintain stimulus.

US Economy Grew Less Q1. The economy in the U.S. grew less than previously calculated in the first quarter, reflecting less spending on services by consumers who were trying to make ends meet after taxes rose.

US Stocks Opens With Gains. Stocks opened broadly higher, extending the previous session's gains on the heels of strength in European stocks and a decline in Treasury yields.

Pre-Market Activity:

$SPY +0.58%

$VXX -1.87%

$TLT +1.11%

$UUP +0.09%

$USO -0.09%

$UNG +1.02%

$GLD -2.62%

$SLV -3.23%

Early Movers:

$ALLT (two upgrades) +3.66%

$APOL (declining enrollment) -4.54%

$SWHC(raises Q1 forecast) +1.10%

Proprietary Trading Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

26-Jun

7:00 AM

MBA Mortgage Index

22-Jun

-

NA

NA

-3.30%

26-Jun

8:30 AM

GDP - Third Estimate

Q1

-

2.40%

2.40%

2.40%

26-Jun

8:30 AM

GDP Deflator - Third Estimate

Q1

-

1.10%

1.10%

1.10%

26-Jun

10:30 AM

Crude Inventories

22-Jun

-

NA

NA

0.313M

Proprietary Trading Earnings Announcements:

 

Company

Symbol

EPS
Estimate*

Time

Add to My
Calendar

Conference
Call

1st United Bancorp Inc

FUBC

0.06

Time Not Supplied

Add

 

Accretive Health Inc

AH

0.09

Time Not Supplied

Add

 

Akers Biosciences Inc

AKR.L

N/A

Before Market Open

Add

 

Bed Bath & Beyond Inc

BBBY

0.93

After Market Close

Add

Listen

Bosideng International Holdings Ltd

3998.HK

N/A

Time Not Supplied

Add

 

Carphone Warehouse Group PLC

CPW.L

N/A

Time Not Supplied

Add

Listen

Casella Waste Systems Inc

CWST

-0.23

After Market Close

Add

 

China Bak Battery Inc

CBAK

N/A

Time Not Supplied

Add

 

Columbus McKinnon Corp

CMCO

0.33

Time Not Supplied

Add

 

Cortex Business Solutions Inc

CBX.V

-0.01

Time Not Supplied

Add

 

Credit Foncier de Monaco SA

MLCFM.PA

N/A

Time Not Supplied

Add

 

Daxor Corp

DXR

N/A

Time Not Supplied

Add

 

Excel Maritime Carriers Ltd

EXMCF

-0.41

Time Not Supplied

Add

 

EXFO Inc

EXF.TO

0.02

After Market Close

Add

 

General Mills Inc

GIS

0.53

Before Market Open

Add

Listen

Groupe Partouche SA

PARP.PA

N/A

After Market Close

Add

 

Groupe Vial SA

VIA.PA

N/A

Time Not Supplied

Add

 

HB Fuller Co

FUL

0.7

After Market Close

Add

Listen

Herman Miller Inc

MLHR

0.36

After Market Close

Add

 

Lindsay Corp

LNN

1.8

Before Market Open

Add

 

Monsanto Co

MON

1.6

Before Market Open

Add

Listen

Newtree Group Holdings Ltd

1323.HK

N/A

Time Not Supplied

Add

 

Niko Resources Ltd

NKO.TO

-0.01

Before Market Open

Add

 

Paris Orleans SA

PAOR.PA

N/A

Time Not Supplied

Add

 

Park Electrochemical Corp

PKE

0.28

Before Market Open

Add

 

Paychex Inc

PAYX

0.38

After Market Close

Add

Listen

Progress Software Corp

PRGS

0.22

After Market Close

Add

 

Real Good Food Company PLC

RGD.L

N/A

Time Not Supplied

Add

 

Stagecoach Group PLC

SGC.L

N/A

Before Market Open

Add

 

Tallgrass Energy Partners LP

TEP

0.2

After Market Close

Add

 

Telecom Reseaux Services SA

ALTRS.PA

N/A

Time Not Supplied

Add

 

TIO Networks Corp

TNC.V

N/A

Before Market Open

Add

 

Torex Gold Resources Inc

TXG.TO

N/A

Time Not Supplied

Add

 

UniFirst Corp

UNF

1.37

Before Market Open

Add

Listen

Unusual Options Activity:

APOL- Apollo Group will report Q3 earnings after the bell tonight. Analysts are looking for $0.85 in EPS and revenue of $965 million. The options market is implying a $1.90 move, or 9.80%, in either direction. Call to put ratio in the June 28 weekly options is 1.36.

SWHC- Another big report after the bell will come from Smith & Wesson. Analysts are looking for $0.44 in EPS and revenue of $171 million. Option traders are pricing in a $0.95 move, or 9.62%, in either direction through July options expiration. The call to put ratio in the July options is heavily in the favor of the bull at 9.16.

JOSB- Over 2,800 Aug. $40 calls were bought for $2.70-$2.75 each, against open interest of 12 contracts. Shares of Jos. A. Bank Clothiers are up 4.25% today.

SIRI- 50k Jan. 2015 $2 puts were sold for $0.15-$0.16 each, against open interest of 29,286 contracts. He/she is betting on Sirius XM Radio shares to stay above the $2 level through January 2015 options expiration.

AAPL- Shares of Apple are under pressure for the 6th day in a row, down 0.32% this afternoon. The call to put ratio in the June 28 weekly options is 1.35, led by activity in the June 28 weekly $405 and $410 calls.

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