Friday, April 10, 2015

Happy Friday


Good morning Folks,
We had a nice green day yesterday and going through my scans it looks as though that could continue for the very near term. However, the real action is likely to come next week when earnings begin rolling from the banks and a few big tech companies. Earnings recession is still being thrown around on the financial networks and the few earnings announcements that we have had have been mixed to negative. We should get a clearer picture next week but for today it looks like we continue to climb that wall of worry.

Gold is struggling once again and Oil is holding up fairly well in the face of what appears to be bad news. More impressive is the way some of the oil sector names have been performing. Solar names tend to do well when Oil is climbing and SUNE has had a nice run plus it just got the Cramer pump yesterday so it could continue. 

PreMarket Movers

Losers: ZNGAQUREUSLVMEMPBBBYALTR,INTCSHPGDYAXGOLD EXTR
Gainers: EXELBIOSINOINFNTASRASPSDBVT,AMCNBRCMWYNN


Stocks on my Radar 
GE if it takes out 28 that is a big area definitely more of a swing selling real estate assets and stock buyback, TASR and DGLY for potential continuation, LOCO for continuation,NERV thinner stock but nice daily may be trying,  VJET for continuation, CNIT 5 dolla holla, QTM nice earnings beat gapper off good bounce spot on the daily guidance was a little weak for 1st qtr, VLTC could get whacky once again today looks like its a gapper, CBMX pr gapper can be a pop an flopper so be careful nice two dolla roll, BIOA hot daily gapper, NEO possible range break like the daily,

CNBC in the News 


IN THE NEWS TODAY
General Electric (GE), in a move to become a pure play industrial company,is selling the bulk of the assets contained in its GE Capital unit and returning most of the proceeds from that disposition to shareholders in the form of a$50 billion share buyback. (CNBC)
GE's move out of financial services would be viewed as positive if it pushes the company into new strategic opportunities in the future, analysts said. (CNBC)

U.S. stock futures were higher in early trading, after Wall Street closed mostly higher Thursday. The Dow and S&P 500 were seeking their first back-to-back weekly gains since February. (CNBC)

The euro moved lower early this morning, after sinking below $1.07 on Thursday for the first time since March 19. The U.S. dollar index against a basket of currencies is trading near three-week highs. (Reuters)

After a rollercoaster week, U.S. oil prices were looking to close out their fourth straight weekly gain, despite early losses Friday. But the recent bounce has done little to make a dent in the 50 percent decline since June. (Reuters)

From Sydney to Tokyo to London, enthusiasts were braving long lines to preview the eagerly anticipated Apple Watch, which became available for pre-orders overnight. An appointment is necessary to even try one on. (CNBC)

The Apple Watch went on pre-sale online at 3 a.m. ET Friday, and within less than three hours, almost all of the models were out to late May or later for availability. (CNBC)

Samsung is trying to steal a little of Apple's limelight with the launch of the Galaxy S6 smartphone Friday, on the back of an earnings report this week that was slightly better than expected. (CNBC)

Amazon (AMZN) has won approval from the Federal Aviation Administration to test delivery drones outdoors, less than a month after the e-commerce powerhouse blasted regulators for being slow in granting permission. (Reuters)

Federal aviation inspectors stepped up oversight of United Continental (UAL) two months ago, citing risks from repeated violations of mandatory pilot qualification and scheduling requirements. (WSJ-subscription)

About 30,000 cases of Sabra hummus sold nationwide are being recalleddue to a possible Listeria contamination. Sabra is a joint venture of PepsiCo(PEP) and Israel-based food and beverage company Strauss. (AP)

As world leaders gather in Panama today, President Barack Obama and Cuban leader Raul Castro, whose expected encounter at the Summit of the Americas, would mark a historic moment. (AP)

A dozen or so Republican presidential hopefuls will address the National Rifle Association's annual convention today. Two notable figures, Sen. Rand Paul of Kentucky and New Jersey Gov. Chris Christie, won't be there. (USA Today)

BY THE NUMBERS
European stocks continued to trade at 15-year highs. Meanwhile, Japan'sNikkei 225 stock index briefly crossed 20,000 for the first time since April 2000 overnight before closing slightly lower. (Reuters)
Two U.S. government reports are on the calendar today: March import and export prices at 8:30 a.m. ET, and the March federal budget statement at 2 p.m. ET. Meanwhile, investors do have two Fed speeches to ponder today:Richmond Fed President Jeffrey Lacker at 8:45 a.m. ET, and Minneapolis Fed President Naryana Kocherlakota at 12:20 p.m. ET.

There are no major earnings reports on the calendar today, in the proverbial calm before the storm of quarterly releases next week, which include several Dow components, major banks, and some big names in tech.

Sprint (S) today is opening retail operations in 1,435 RadioShack stores that were recently acquired by General Wireless as a result of a RadioShack bankruptcy filing.

Chinese low-cost smartphone maker Xiaomi said it has set a Guinness World Record for selling the most mobile phones on a single online platform in a 24-hour period.

STOCKS TO WATCH
Gap (GPS) reported a 2 percent rise in comparable-store sales for March, above the 0.6 percent estimate. The results were entirely driven by a 14 percent gain by the retailer's Old Navy chain, while the Gap and Banana Republic brands saw declines.
Ruby Tuesday (RT) lost a penny per share for its latest quarter, smaller than the 4 cent loss expected by analysts. Revenue was in line, but the restaurant chain did lower its same-restaurant sales outlook for 2015.

PriceSmart (PSMT) earned 82 cents per share for its latest quarter, 16 cents below estimates, citing devaluation of the Colombian peso. The warehouse club operator did beat forecasts on revenue.

EBay (EBAY) and its PayPal unit announced an agreement that will maintain an interdependence between the two when PayPal splits into a separate company.

Citrix Systems (CTRX) cut its profit and sales outlook for its first quarter, citing both negative impact from currency fluctuations, as well as the business software maker's restructuring initiatives.
Seeking Alpha
Today's economic calendar:
8:00 Fed's Lacker: U.S. Economic Outlook
8:30 Import/Export Prices
2:00 PM 
Treasury Budget