Thursday, April 16, 2015

Optimism

Good morning folks, 
The markets had a nice day yesterday and as we anticipated there are earnings winners and earnings losers. Oil popped hard after a smaller than anticipated inventory build. Many of the  oil and oil services names had tremendous moves. NFLX set all time highs after reporting earnings after the close yesterday even though the earnings themselves were a miss. The subscriber growth was what the street really cared about.

Technically we are overbought in some of the indexes but that does not mean that things must come down, it just means we need to be careful. This isn't the time I want to start loading up on long term holds. I have actually been selling into the strength and booking profits. I closed out nearly all of my $YNDX and took some profit in $PACB from my swing account. While taking day trades in MCP and UWTI. 

This morning it looks like we have some red premarket. Bond yields are spiking for Greece which typically is not a good sign. Gold had a little bit of a bounce yesterday and looks as though it may carry over to today.

The IPO market is heating up once again as we had ADRO, XBIT,  CDTX, yesterday and ETSY,  VIRT , KMPH, PRTY on deck. 

Stocks on my radar premarket
INVE gapper off pr look for intraday setup don't chase, ROSG potential continuation and 4 dolla roll be careful it can be a pop and flopper, KTOS already a long term hold possible 6 dolla roll, CGIX pr gapper its up a lot over last couple weeks but could continue, CLSN pr yesterday held the gap looking for potential pullback entry, SPWR nice pop this morning flat top break out partnership with AAPL solar's could be in play, TSL JASO CSIQ SUNE HSOL SOL a few names to keep an eye on, SZYM and PEIX both swings looking for continuation   

CNBC in the NEWS 

IN THE NEWS TODAY
Dow stock Goldman Sachs (GS), which beat on earnings and revenue, leads this morning's list of corporate profit reports, along with Citigroup (C), BlackRock (BLK), and Blackstone (BX). Dow component American Express (AXP) is out after the bell. (CNBC)
Blackstone reported much better-than-expected quarterly results this morning, prompting Chairman and CEO Steve Schwarzman to declare his private equity firm an "earnings machine." (CNBC)

Central banks do not appreciate what low interest rates are doing to the long-term interests of insurance companies, pension funds, and retirement plans BlackRock founder and CEO Larry Fink told CNBC, shortly after this morning's earnings beat and revenue miss.

U.S. stock futures were lower in early trading, after stronger oilWednesday helped the Dow and S&P 500 log their fifth day of advances in six sessions. But crude prices were under pressure again this morning. (CNBC)

UnitedHealth (UNH), also among the Dow 30, this morning reported earnings and revenue that beat expectations. The company also raised its 2015 earnings forecast. (AP)

Netflix (NFLX) surged in premarket trading, after reporting lateWednesday as part of its earnings announcement blockbuster new subscriber numbers. The company also said it's seeking board approval for a stock split. (Reuters)

Ben Bernanke, the former Fed chairman, has agreed to become a senior adviser to Citadel Investment Group, a $25 billion hedge fund founded by billionaire investor Kenneth Griffin. (NY Times)

The European Union is accusing Google (GOOG) of abusing its dominance, and Microsoft (MFST) has links with the three initial complainants that sparked the antitrust investigation. (NY Times)

Google competitors are pushing U.S. antitrust enforcers to investigate allegations the Internet services company unfairly uses its Android system to win online advertising. (Reuters)

A federal judge has ruled a 2009 bankruptcy order shieldsGeneral Motors (GM) from billions of dollars in death and injuryclaims tied to defective ignition switches in older small cars. (AP)

It may be lighter and feature an aluminium body, but Ford's (F) new pickup passed a major test of its ability to protect passengers, getting a top five-star safety rating from U.S. safety regulators. (CNBC)

Wearables company Jawbone is taking on Apple Pay with its newest activity tracker, launching today the UP4. According to sources, Jawbone has also completed a new round of funding, raising $300 million from investment giant BlackRock. (Re/code)

The GOP-controlled House is scheduled to vote today on a bill to repeal the estate tax, a move long-sought by Republicans and one that Democrats describe as a giveaway to the rich. (USA Today)

New Jersey Gov. Chris Christie told New Hampshire voters at a town hall that he won't make a decision about whether to seek the Republican presidential nomination run until after June 30. (NBC News)

BY THE NUMBERS
Japan has overtaken China to become the leading holder of U.S. Treasurys for the first time since the 2008 financial crisis, and analysts say it looks as though it might stay that way for a while.
Then at 10 a.m. ET, the monthly Philadelphia fed survey index is released, followed by the Energy Department's weekly look at natural gas inventories at 10:30 a.m. ET.

Investors get a double dose of U.S. economic data at 8:30 a.m. ET, when the government is out with both initial jobless claimsand March housing starts.

STOCKS TO WATCH
Etsy (ETSY) is set to make its Wall Street debut today, with the crafts marketplace pricing its initial public offering at $16 per share, at the high end of the expected range.
Party City (PRTY) initial public offering was priced lateWednesday at $17 per share, the high end of an expected range. The stock is set to begin trading today.

Virtu Financial (VIRT), an electronic market maker that postponed its IPO a year ago amid the furor over Michael Lewis' book "Flash Boys," is slated to begin trading today.


Procter & Gamble (PG) is drawing interest for its beauty brands from Revlon (REV), Coty (COTY), and others, according to the Reuters. The brands could fetch as much as $12 billion, according to some estimates.

Seeking Alpha 
Notable earnings before today's open: ADSBLKBXCFCFSFCSFRCGS,GWWHOMBKEYPBCTPMPPGPVTBSHWSONTSMTZOOUNHWBS
Notable earnings after today's close: AMDASBAXPCCKCECYTEGPMAT,NOWSLB