Wednesday, April 29, 2015

Yo Rocky!!!

Good morning folks, 
What a crazy day TWTR had yesterday! As many of you know I was planning on taking a small swing into earnings strictly off the technical s looking for a breakout of the flag it had on the daily. That little earnings leak saved me some dough. As soon as I saw it I retweeted it but I was not 100 percent sure it was actually real. The results clearly disappointed the street and that stock tanked and then got halted. This is a very good example of why holding through earnings can be a very sobering experience. Charts can look incredibly hot but ultimately what matters is fundamentals. A miss of the streets expectations  or poor guidance can ruin a good looking chart in the blink of an eye. Taking a stock just before earnings is a risky bet, I rarely do it and if I do> >>I go in with a small position knowing that I may be taking a hit. If the stock has had a nice run up into earnings like TWTR did and it is a high profile stock, your risk is increased. The safest strategy is to sit on the sidelines through earnings and then look for an ideal entry over the next few days. However, if you feel compelled to gamble just make sure its a bet you can afford to lose!

Today is a big day, we have GDP data the Fed announcement. We also have Greece presenting their draft reform legislation to lenders today. 

The IBB continued to be weak and Gold and Metal/ Metals miners continued with their strength. The statement from the Fed will likely play a role in whether or not that strength continues. 
It could be a wild day out there so be careful make sure you have a plan and stick to it. 

Stocks on my Radar premarket
CLF better than expected earnings, MTOR earnings beat nice daily 13 dolla roll?, MWA stock repurchase program and earnings thin one testing 52 week highs more of a swing, IG getting a smack down off earnings my be a bounce in there somewhere, CVEO bounced yesterday possible continuation, POWR pr nice daily could take out 14, CBG earnings beat very hot daily more of a swing type, ONCY pr could try for a 1 dolla holla, ENPH daily kinda hot bounce off 200 day?, QSII pr 16 dolla roll?,  HLTH pr possible could be ready to bounce thin one be careful 

CNBC in the NEWS

U.S. stock futures were mixed in early trading, ahead of this morning's release of the government's initial read on first-quarter gross domestic product and this afternoon's policy statement from the Fed. (CNBC)
Lumber Liquidators (LL) said it's been advised the Justice Department is seeking criminal charges against the company relating to the importation of certain products, and the DOJ probe will likely cost the company about $10 million. Lumber Liquidators also reported an unexpected loss.(AP)

Twitter (TWTR) was stable in premarket trading, after closing down 18 percent on the premature release of its quarterly earnings report. Revenue fell short and future guidance was weak. (CNBC)

Twitter CEO Dick Costolo joins CNBC's "Squawk Alley" during the 11 a.m. ET hour to talk about the results and why they were released early.

GoPro (GPRO) was higher in the premarket, after reporting late Tuesdayearnings and revenue that beat expectations. The action video camera maker's results were boosted by sales growth in Europe and Asia. (Reuters)

Hulu has landed the subscription video on-demand rights to "Seinfeld,"cutting a deal for all 180 episodes of the enduring NBC comedy, for an expected price tag of nearly $180 million. (Variety)

Samsung has regained its crown as the world's top smartphone vendor after losing serious ground to Apple (AAPL) last year. But the South Korean tech giant posted a sixth consecutive quarterly decline. (CNBC)

American Airlines (AAL) said a glitch in an Apple iPad application used by its pilots caused flight delays last night. (Re/code)

Wal-Mart (WMT) plans to open 115 new stores in China by 2017-expanding its store count there by more than 30 percent. But the retailer will also close some under-performing locations in China. (Reuters)

Barclays (BCS) added $1.2 billion to its reserve for potential settlementsrelated to alleged foreign exchange manipulation. (Reuters)

The SEC is set to propose today long-awaited rules that would force thousands of companies to tell investors how the pay of top management tracked with financial results. (WSJ-subscription)

The Oklahoma Supreme Court has dismissed an appeal by the ex-wife ofbillionaire energy tycoon Harold Hamm in their near-$1 billion divorce settlement. (AP)

The U.S. criminal-justice system is in desperate need of reform, says ex-Qwest CEO Joe Nacchio, who's now out of prison. He was convicted of insider trading in 2007. (CNBC)

At 8 a.m. ETNacchio joins CNBC's "Squawk Box," along with former NYPD Commissioner Bernie Kerik, who also served time.

Go behind bars with the new CNBC documentary, "White Collar Convicts: Life on the Inside," at 10 p.m. ET/PT.

Baltimore's streets, previously rocked by riots, were quiet overnight as residents obeyed an all-night curfew enforced by 3,000 police and National Guards troops. (AP)

Japan Prime Minister Shinzo Abe is in the middle of a historic, week-long visit to the U.S., but it's his congressional speech today that's drawing the most attention. (USA Today)


Sen. Bernie Sanders, independent from Vermont, is expected today to announce that he's running for president as a Democrat, the first to challenge Hillary Clinton in the primary. (USA Today)

BY THE NUMBERS
In addition to the 8:30 a.m. ET GDP print, investors also get a read on housing. At 10 a.m. ET, the National Association of Realtors is out with its March report on pending home sales, which is expected to show a 1 percent increase, after February's rise of 3.1 percent.
Mortgage applications gave back their gains last week-falling exactly as much as they had risen the previous week-as interest rates increased ever so slightly. Total application volume fell 2.3 percent, according to the Mortgage Bankers Association.

The Energy Department is out with its weekly Wednesday assessment of oil and gasoline inventories at 10:30 a.m. ET.

Another earnings blitz is on tap for today, with this morning's list includingMasterCard (MA), Mondelez International (MDLZ), Norfolk Southern (NSC),Northrop Grumman (NOC), Starwood Hotels (HOT), and Waste Management(WM). After-the-bell reports today include Baidu (BIDU), Marriott (MAR), andYelp (YELP).

STOCKS TO WATCH
Wynn Resorts (WYNN) reported adjusted quarterly profit of 70 cents per share, well short of the $1.30 consensus analyst estimate, and revenue missed as well. Additionally, the casino operator cut its dividend to 50 cents per share from $1.50. Wynn's results were hurt by a drop in revenue from its Macau operations.
Kraft Foods (KRFT) beat estimates by 5 cents with adjusted quarterly profit of 86 cents per share, though revenue was slightly shy of forecasts. Sales were down in spite of price increases that were designed to offset higher commodity costs.

Buffalo Wild Wings (BWLD) missed estimates by 11 cents with quarterly profit of $1.52 per share, while the restaurant chain's revenue also fell short. The company was hurt by higher costs for chicken wings, although it did see a 7 percent increase in same-store sales at company-owned locations and a 6 percent increase at franchised outlets.


Panera Bread (PNRA) missed estimates by 2 cents with adjusted quarterly profit of $1.41 per share, with revenue also below estimates. The restaurant chain is experiencing higher expenses from its plan to invest in and update its stores.

Seeking Alpha
Notable earnings before today's open: ABBACCOADTAMEAMEDANTMAVYBCBENBGCP,BOKFCBGCCJCFRCRICVEDHXDXDXYNEDRETNEVEREXCFCAUFCHFDMLFIFUN,GDGELGIBGRMNGRUBGTHCBKHEROHESHLTHOTHUMICONIDCCIPISSILFUSLINE,LLLVLTMAMDLZMTORMWVNEENOCNSCNYCBOCRPCGPXQRESROLSAIASAVE,SLABSLGNSNCRSOSPILSPRSPWTRITWXUMCVRXWEXWMWOOF
Notable earnings after today's close: AELAFFXARARIIARRSASGNASHATRCATWAVGAXS,BIDUBLKBBVNCACICAVMCBTCHMTCMOCMPRCNOCNWCOHRCRLCSGPCSIICWCWT,DOXDREDXCMDYAXECOLELGXEQIXEQYESESVEXLEXRFLEXFOEFORMFORRGLUU,HOLXHOSHYIPCMISILKAMNKEGKEXKRALNCLOCKLOPELXRXMAAMACMANTMAR,MDASMEOHMEPMMLPMTGEMTWMURNENSRNXPIOOGSOISPDMPPCPRXLPTC,QEPQUIKRKTROGRRTSSAMSCISFLYSGISPOKSPRTSSSSTAASTRSUTALTCOTEX,TILETTEKTTMITXUNMVARVRTXWLLWMBWMGIWTSXLYELP