Friday, May 29, 2015

Happy Friday

Good morning folks, 
This weeks live video session will likely be taking place on Saturday this week @ 8 AM instead of Sunday. 
So we had a red day yesterday and it looks like we could have a weak open. China continued its decline last night and the mergers mania looks to continue as another deal in the semi space appear to be on the horizon with Intel. 
Rumors are swirling around about Greece and their potential exit from the Euro. The markets continue to trade within a range. There seems to be a lack of conviction on both sides. 

Stocks on my Radar premarket
TBIO pr continuation move gapper over the 2 holla don't chase it thin float likely going to need capital soon, STNG announced share repurchase potential ten test, FRO earnings like the daily 3 roll potential, PLUG pr still looks like it wants to test 3, GEVO had a late afternoon pop yesterday potential continuation today recent offering @ 4 bucks, SPPI pr could be at a potential bounce spot, PBMD recent runner pr gapper testing 3 be careful another one that likely needs to do an offering soon, CCXI pr potential 8 roll thin one don't chase it, AFMD pr  another thin bio name making a move premarket, TWTR looking like maybe it has found its bottom will be looking for entry for swing, HRTX big gapper from pr last night took out 52 week highs premarket be careful don't chase it, DGLY can be a pop and flopper but looks like a decent pr could be a great bounce spot on the daily gapping a little premarket, PPHM pr looking like it may have found its bottom Look for it to take out 1.50
CNBC in the NEWS
May remains on track to be the second best month of 2015 for the major stock averages, but positive momentum has disappeared as the month draws to a close. Ahead of the final trading day of May, the S&P 500 has fallen in five of seven sessions, while the Dow is down in four of six sessions. Stock index futures are currently pointing to continued losses at the Fridayopen.
Japan's Nikkei 225 index finished just above the previous day's close toclinch a fresh 15-year high as government data showed consumer prices rose 0.3 percent in April. However, household spending fell 1.3 percent in April, below expectations for a 3.1 percent increase. (CNBC)

Intel is nearing a deal to acquire chip maker Altera Corp. for as much as $54 per share, or about $15 billionThe New York Post reports. Talks reportedly resumed last week after Altera reported disappointing quarterly earnings. (CNBC)

U.S. data center company Equinix has agreed to buy British rival Telecity Group for $3.6 billion. Telecity ended its $2.2 billion bid for Dutch company Interxion Holdinngs after its board recommended Equinix's offer. (Reuters)

JPMorgan Chase will lay off more than 5,000 workers by next year as the biggest U.S. bank seeks to replace tellers with technology at its more than 5,500 branches, the Wall Street Journal reports. The cuts began earlier this year and will reduce JPMorgan's workforce by at least 2 percent. (WSJ)

Amazon is expanding its Elements brand to include food staples, such as milk and cereal, and household products, the Wall Street Journal reported. The e-commerce company sought to expand trademark protection under the brand earlier this month. (CNBC)

Apple said Thursdaypurchased augmented-reality software maker Metaio. The tech giant did not disclose the buyout price or its plans for the Munich-based Metaio, whose technology displays digital information on physical surfaces. (AP)

FIFA President Sepp Blatter is expected to be re-elected on Friday amid a corruption scandal that has engulfed soccer's governing body. FIFA members are choosing between Blatter, who is seeking his fifth term as president, and Prince Ali bin Al Hussein of Jordan.

Former U.S. Speaker of the House John Dennis Hastert was chargedThursday with attempting to evade banks' reporting requirements and lying to the FBI. He was charged with structuring a cash withdrawal of $952,000 so as to get around the rule that banks must report such transactions over $10,000. (CNBC)

First responders raced to rescue motorists and residents in central Texas early Friday, as flash flooding continued during the wettest May on record in the state. At least 23 people have died in Texas this week in flooding caused by heavy rains. (NBC News)

Today's key economic report comes at 8:30 a.m. ET, when the government issues its second reading on first quarter GDP. Economists think the revised figure will show the U.S. economy contracting at a 1 percent annual rate, compared to the initial estimate of a 0.2 percent expansion.
At 9:45 a.m. ET, the May Chicago Purchasing Managers Index is seen coming in at 53.0, a slight improvement from last month's 52.3. And at 10 a.m. ET, consensus forecasts call for the University of Michigan's May consumer sentiment index to rise to 89.5 from the preliminary May reading of 88.6, but lower than April's final 95.9.

There are no companies of note reporting after today's closing bell.

GameStop is among our stocks to watch this morning, with the video game retailer earning 68 cents per share for its latest quarter, 7 cents above estimates. Revenue was slightly ahead of forecasts, and GameStop also gave an upbeat forecast for the current quarter and full year. GameStop's results were helped by strong sales of new game software.
Deckers Outdoor earned 4 cents per share for its most recent quarter,beating consensus estimates for a breakeven quarter. The maker of UGG boots also saw its revenue beat estimates, but it's giving a below-consensus forecast for the current quarter while raising its earnings projections for the full year.

Ulta Salon beat estimates by 11 cents with quarterly profit of $1.04 per share, and revenue was also above forecasts. The cosmetics retailer saw increases in market share across all its categories.

Vodafone's biggest investors tell Reuters that they would be open to a deal with John Malone's Liberty Global, a week after Malone said Vodafone would be a "great fit" for Liberty.
Seeking Alpha
Today's Markets:
In Asia, Japan +0.1% to 20563. Hong Kong -0.1% to 27424. China -0.2% to 4613. India +1.2% to 27828.
In Europe, at midday, London flat. Paris -1.1%. Frankfurt -1%.
Futures at 6:20: Dow -0.3%. S&P -0.2%. Nasdaq -0.3%. Crude +1.4% to $58.47. Gold +0.1% to $1190.
Ten-year Treasury Yield flat at 2.12%
Today's economic calendar:
8:30 GDP Q1
8:30 Corporate Profits
9:45 Chicago PMI
10:00 Reuters/UofM Consumer Sentiment
Notable earnings before today's open: BIGBNSCCGDXLGFROGCOGHM