Thursday, June 25, 2015

Happy Thursday

Good morning folks, 
Greece continues to be a thorn in the side of markets and until it gets resolved in one way or another the markets are likely going to struggle to find a definitive direction. 
We are flashing a bit of green premarket however that could change in the blink of an eye with negative news from Greece or a random Tweet from a Billionaire. 

This is not the climate to be chasing stocks, breakout plays can be very frustrating unless you are just taking quick scalps. Bounce plays seem to work much better SGYP had a nice red to green move yesterday after a 3 day pullback. 

Its an active week for IPO's my two favorites are GKOS and TRU.

Stocks on my Radar Premarket 
BWEN, CBLI, ORPN, ALQA, MZOR, EXAS, RGSE. RMTI, EGLT


IN THE NEWS TODAY
U.S. stock futures were higher in early trading, with the crisis in Greece and the latest U.S. economic numbers in focus. The sharp Wednesday selloff put the Downegative for June and the S&P 500 just above breakeven. (CNBC)
As leftist Greek Prime Minister Alexis Tsipras embarks on a last-ditch effort to agree on a reform deal with creditors,a rebellion is mounting at home among his own Syriza party and the opposition. | Live blog (CNBC)

Barry Diller's IAC/InterActiveCorp (IACI) is planning to announce a spinoff and IPO of Match.com. (CNBC)

Key cases on same-sex marriage and Obamacare are among those left for the Supreme Court to rule on this term. Ahead of decisions today, tomorrow, and Monday, it appears Americans have largely made up their minds. (NBC News & CNBC)

The back-and-forth struggle over the president's trade agenda is expected to take another step forward today, with a House vote on a companion to the fast track bill, which received final passage Wednesday. (USA Today)

The CEO of Takata, the Japanese airbag maker at the center a defect-and-recall scandal, today repeated his regret. Meanwhile, Toyota (TM) and Nissan said they'reexpanding their North America Takata-related recalls to the rest of the world. (AP & Reuters)

News reports are emerging that unscrupulous meat traders in China had been peddling tons of beef, pork and chicken wings that in some cases had been frozen for 40 years. (NY Times)

Chinese billionaire Jack Ma has paid $23 million for a swath of New York's Adirondacks, principally for conservation purposes. The Alibaba (BABA) co-founder also plans to occasionally use it as a personal retreat. (WSJ-subscription)

For the first timeFacebook (FB) is streaming the first episodes of two new HBO comedy series-"Ballers," starring The Rock, and "The Brink," featuring Tim Robbins-in a deal with the Time Warner -owned network. (CNBC)

Google (GOOG) reportedly plans to invest $600 million to build a new data center in Alabama on the site of a former coal-fired power plant. (CNBC)

Minnesota is America's Top State for Business in 2015-reaching the pinnacle of success by way of a much different route than previous CNBC winners. | Full list(CNBC)

Americans put in more hours at work last year, but also managed to find more time to sleep and watch television. In fact, people slept about an hour more than they worked. (WSJ-subscription)

BY THE NUMBERS
It's a busy morning for economic numbers, with several numbers of significance coming at 8:30 a.m. ET: jobless claims, personal income and spending for last month, and the May PCE deflator, an inflation measure watched by the Fed. Then at 10:30 a.m. ET, the Energy Department releases its usual Thursday look at natural gas inventories.
Accenture (ACN), Barnes & Noble (BKS), and Winnebago(WGO) are among the companies reporting quarterly earnings this morning, while Nike (NKE) and Micron Technology (MU) report their numbers after today's closing bell.

Bed Bath & Beyond (BBBY) late Wednesday reported quarterly profit of 93 cents per share, missing estimates by a penny, and revenue that matched expectations. The household goods retailer warned on outlook.

Walt Disney (DIS) late Wednesday announced it israising its dividend by 15 percent, and going to now make dividend payments twice per year rather than once.

STOCKS TO WATCH
McDonald's (MCD) plans to sell its more than 400 Taiwan-based stores to a franchise operator. The fast food chain is trying to cut costs and turn around its China business.
JPMorgan (JPM) is in talks with the SEC to settle a product steering case, according to the Wall Street Journal. It involves whether the financial giant tried to steer private banking clients toward its own products.

TransUnion (TRU) begins trading today on the New York Stock Exchange after the credit bureau priced its IPO at $22.50 per share, in the middle of the expected range. That gives TransUnion a value of about $4 billion.
Seeking Alpha
Today's Markets:
In Asia, Japan -0.5% to 20771. Hong Kong -1% to 27146. China -3.4% to 4529. India +0.6% to 27896.
In Europe, at midday, London +0.2%. Paris +0.5%. Frankfurt +0.8%.
Futures at 6:20: Dow +0.4%. S&P +0.4%. Nasdaq +0.3%. Crude -0.3% to $60.11. Gold +0.1% to $1173.50.
Ten-year Treasury Yield +2 bps to 2.39%
Notable earnings before today's open: ACNBKSCMCLNNMEISJR,WGO
Notable earnings after today's close: MUNKESNX

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