Friday, January 30, 2015

Happy Friday!


Good morning folks,
We had a nice bounce yesterday and today we have the GDP report that could be a market moving report if it comes in either too hot or not hot enough.Once again we had a mixed bag in earnings GOOG and BABA missed V AMZN and BIIB beat. 

As I said yesterday the IBB has been the pillar of strength and in early trading it looked as though it was starting to crack as it tested the 20 day moving average only to reverse on the day and close in the green and the IWM also had a nice reversal day.

Gold and miners continued to drop and oil was basically flat.

GDP is out and GOLD had a little bounce off the number 


Stocks on my RadarSCMP pr testing the 16 dolla holla, MITK earnings beat but it has already run into earnings see if it holds, IMGN earnings beat possible base breakout gap to fill on the daily, HABT and PLAY could be sympathy plays with SHAK IPO, CRMD possible continuation, GENE possible red to green but it can be a pop and flopper so be careful, NEO looking for it to take out 4 with conviction, ICPT on fyaa after FDA designation gapper, GURE pr I would not chase it the pr is mediocre,  CTIC article on the Street active premarket 

IPO's  SHAK HIFR AVGR

USO IWM IBB TVIX TZA NUGT JDST SPY UUP NDAQ for market sentiment 
 
CNBC in the News 

IN THE NEWS TODAY
U.S. stock futures were under early pressure on this last trading day of January, after Wall Street snapped a two-day losing streak. The Dow andS&P 500 face an uphill battle today to breakeven for the month.
Nuveen Chief Equity Strategist Bob Doll joins CNBC's "Squawk Box" at 8:30 a.m. ET to help us make sense of all this market volatility and the impact of oil and the dollar on earnings.

Dow component Chevron (CVX) leads today's list of earnings releases, on a fairly busy morning, which also includes results from Eli Lilly (LLY). The drugmaker beat estimates on earnings, but revenue was slightly short hurt by the strong dollar. (CNBC)

Amazon (AMZN) blew past Wall Street earnings expectations, pushing thestock sharply higher in premarket trading. But revenue fell short of estimates and so did forward guidance. (CNBC)

Google (GOOG) reported earnings and revenue that missed expectations, asforeign exchange and falling ad prices weighed on the search giant's quarterly results. (CNBC)

Time Warner (TWX) Chairman and CEO Jeff Bewkes joins us at 8 a.m. ET to share his thoughts on the media landscape.

Shake Shack (SHAK) is set to begin trading today, after pricing its IPO last night at $21 a share, higher than the bumped-up range, valuing the hamburger joint at more than $700 million. (CNBC)

Russia's central bank today cut its key interest rate to 15 percent, just a month after a surprise 6.5 percent hike to 17 percent. The move put further pressure on the ruble this morning. (CNBC)

The European Union's decision to extend sanctions against Russia, including travel bans and asset freezes, is akin to "economic war," the head of one of Russia's largest banks told CNBC.

Russian Finance Minister Anton Siluanov told CNBC Moscow would consider giving financial help to debt-ridden Greece-just days after the new Greek government questioned those EU sanctions.

The GOP-controlled Senate has approved a bipartisan Keystone XL oil pipeline bill, defying a presidential veto threat and setting up the first of many battles with the White House over energy and the environment. (AP)

President Barack Obama plans to detail his State of the Union precision medicine initiative, setting aside $215 million in his budget to seek a better understanding of diseases at the molecular level. (CNBC)

There's a threat of more snow this weekend and next week for residents in the Northeast, who are still digging out from this week's storm that dumped one-to-two feet of snow in parts of the region. (Weather Channel)

On the heels of this month's European Central Bank announcement of its $1.2 trillion bond purchase plan, new figures today showed the euro zone slid further into deflation in January.


BY THE NUMBERS
The day's most notable U.S. economic report comes at 8:30 a.m. ET, when the government issues its first look at fourth quarter GDP. Economists are forecasting a 3.2 percent annual growth rate, compared to 5.0 percent during the third quarter.
The Chicago purchasing manager's index is out at 9:45 a.m. ET, and it's seen dropping to 57.5 for January from 58.8 in December. A short time later, the University of Michigan's final read on January consumer sentiment is out, and it's expected to rise to 98.2, matching the preliminary reading, and up from December's 93.6 reading.

U.S. homeownership fell to a 20-year low in the fourth quarter, but a sharp rebound in the rate at which people are moving out on their own is expected to help drive a pickup in housing.

STOCKS TO WATCH
Dow stock Visa (V) beat estimates on earnings and revenue. The credit card giant's bottom line was helped by a cheaper gasoline prices, among other factors. The company also announced a 4-for-1 stock split.
Broadcom (BRCM) saw earnings and revenue come in above estimates. The semiconductor maker increased sales of its Wi-Fi and broadband-related chips. The company was also being helped by soaring sales at key customerApple (AAPL).

Deckers (DECK) missed estimates on earnings and revenue. The maker of footwear and apparel also cut its full year outlook, on weaker sales for its UGG shoes.

Honda (HMC) cut 6.5 percent off its core annual profit forecast as the Japanese automaker set aside hundreds of millions of dollars in extra cash to cover an extended recall to replace potentially faulty air bags.

Valeant Pharmaceuticals (VRX) is buying the cancer vaccine Provenge from bankrupt drug maker Dendreon for $296 million. Valeant said the treatment'srevenue was about $300 million in 2014.

Seeking Alpha
Today's Markets:
In Asia, Japan +0.4% to 17674. Hong Kong -0.4% to 24507. China -1.6% to 3212. India -1.7% to 29183.
In Europe, at midday, London -0.3%. Paris -0.2%. Frankfurt -0.1%.
Futures at 6:20: Dow -0.7%. S&P -0.6%. Nasdaq -0.2%. Crude +1.1% to $45.03. Gold +0.8% to $1264.60.
Ten-year Treasury Yield +2 bps to 1.75%
Today's economic calendar:
8:30 GDP Q4
8:30 Employment Cost Index
9:45 Chicago PMI
9:55 Reuters/UofM Consumer Sentiment
3:00 PM USDA Ag. Prices
Notable earnings before today's open: ABBVAVYBENBERYBZHCNXCVXGHMHMCIDXXIMGNINGRIRKCGLEALLYLMMAMAN,MATMGICMOMOG.AMOSYNSNVONWLOFGPCARSAIASPGTSNTYCWYXRX

Best of Success!