Friday, March 27, 2015

Happy Friday

Good morning Folks 
We had a nice consolidation day yesterday and the markets held up a bit better than I thought they would. We are flashing red premarket >However, Janet Yellen speaks this afternoon and there is a possibility that she says something that could give the markets reason to celebrate.
She may say the word "Flexible" which could then send the market up 1000 points >> I am kidding of course but hey you never know.
It is the last Friday of the month and the first quarter is coming to an end so I am expecting more of a range trading, consolidating type of day once again heading into the weekend.

Stocks on my Radar
BBRY reported earnings seems like they were better than expected could test the 10 dolla holla, OREX possible continuation off of pr from yesterday, EDAP PR last night decent bounce spot on the daily, NVEE thin stock nice daily had some pr last night see how it reacts today, YHOO share buyback and upgrade from MS, LIVE pr about products on Amazon Careful can be a pop and flopper, VJET earnings beat could get some follow through, 


CNBC in the NEWS

IN THE NEWS TODAY
U.S. stock futures were lower in early trading, ahead of a speech this afternoon by Fed Chair Janet Yellen. Wall Street dropped for a fourth day in a row Thursday, with the Dow and S&P 500 slightly lower for the year. (CNBC)
Oil prices were lower this morning-reversing sharp gains Thursday as concerns eased about a disruption to crude supplies due to Saudi Arabia-led air strikes in Yemen. (Reuters)

The dollar resumed its rise against the euro today, after a weeklong Fed-induced selloff. The strong dollar and falling oil prices are being blamed for the dip in corporate profits. (Reuters)

Authorities have searched the homes of co-pilot Andreas Lubitz in two German cities, looking for an explanation for why he may have crashed a passenger plane into the French Alps. (AP)

A fiery explosion in Lower Manhattan Thursday, believed to be gas-related,caused two buildings to collapse and damaged others nearby. Nineteen people were injured, and at least one person was reported missing. (NY Times)

Apple (AAPL) CEO Tim Cook plans to donate his estimated $785 million fortune to charity, after paying for his 10-year-old nephew's college education. (Fortune)

Google (GOOG) plans to pay new CFO Ruth Porat-hired this week fromMorgan Stanley (MS)-more than $70 million in the next two years through a combination of restricted stock and a biennial grant. (Reuters)

The jury in the Silicon Valley sex-discrimination lawsuit against venture capital firm Kleiner Perkins that could result in payments of as much as $160 million will continue deliberations today. (USA Today)

American Apparel (APP) ex-CEO Dov Charney is seeking $40 million in damages for alleged breach of contract. Charney was removed from his job in December, following a six-month suspension. (Reuters)

Pepsi-Cola replaced Diet Coke as the No. 2 soda brand in the U.S. by volume in 2014, as Americans continued to avoid diet soft drinks, according to new industry data. (WSJ-subscription)

Republicans muscled a balanced-budget plan through the Senate early this morning, positioning Congress for months of battling President Barack Obama over the GOP's goals of slicing spending and dismantling his health care law. (NBC News)


BY THE NUMBERS
Investors get a look at the government's final estimate of fourth-quarter GDP at 8:30 a.m. ET, with forecasts calling for a 2.4 percent annual growth rate. That would be up from last month's estimate of 2.2 percent growth.
The final University of Michigan consumer sentiment index for March, out at10 a.m. ET, is expected to come in at 92.0 compared to the preliminary reading of 91.2 and February's final 95.4 tally.

In earnings news: BlackBerry (BBRY) said this morning that it made 4 cents per share for its latest quarter, compared to an expected 4 cent loss. But revenue was far below forecasts as sales from services exceeded those from hardware.

GameStop (GME) reported late Thursday adjusted earnings and revenue that missed estimates-as did guidance for the current quarter and the full year. The videogame retailer is being hurt by slowing sales growth for the Xbox One and PlayStation 4 consoles after the holiday shopping season.

Restoration Hardware (RH) late Thursday issued adjusted profit that slightly beat expectations and revenue that matched forecasts. But the home goods retailer issued weak guidance for the current quarter, citing delayed shipments due to the West Coast port labor dispute.

STOCKS TO WATCH
Dow Chemical (DOW) will spin off part of its chlorine derivatives businessand merge it with Olin Corporation (OLN), creating a company with annual revenue of about $7 billion. It will get about $2 billion in cash and about $2.2 billion in Olin stock as part of the deal.
Yahoo (YHOO) approved a new $2 billion stock buyback program-using the proceeds from the public offering of online retailer Alibaba (BABA). Yahoo is working to spin-off its Alibaba stake into a separate company.

Amazon (AMZN) is in talks to buy online luxury retailer Net-a-Porter, according to Forbes, in what might be the largest-ever acquisition for the e-commerce giant.


Vice Media, behind the namesake magazine and a digital news site, said it's partnering with Time Warner's (TWX) Home Box Office to produce a daily, half-hour news program.

Seeking Alpha
Today's economic calendar:
8:30 GDP Q4
8:30 Corporate Profits
9:55 Reuters/UofM Consumer Sentiment
3:45 PM Janet Yellen speech
Notable earnings before today's open: BBRYCCLFINL

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