Friday, June 19, 2015

Happy Friday

Good morning Folks, 
Just a hint of a deal or extension in Greece and the fact that we still have a very dovish Fed gave the markets something to celebrate sending us to new highs in several indexes. How long this rally will last is anyone's guess but I wouldn't want to be the first to try and fight the trend. 
Today is options expiration so we could get some wild action throughout the day. 

Stocks on my Radar this morning
SYGP, MRGE,GERN PBMD, CPXX, SIFY, AMCN, AMTX, INUV, IMMU, CDTI, FOGO, KBH,

Shippers looking interesting again
NNA FRO DSX 

CNBC


Euro zone leaders plan to hold an emergency summitMonday after the region's finance ministers failed to agree on a reform-for-aid deal with Greece, making adebt default at the end of the month more likely. | Live blog (CNBC)

The European Central Bank is expressing concernabout whether Greek banks-which have seen withdrawals of about $2.2 billion in the past three days-would open Monday. (CNBC)

Martha Stewart Living Omnimedia (MSO) is said to beclose to a sale to retail licensing company Sequential Brands (SQBG). Shares of Martha Stewart surged 26 percent on the news Thursday. (WSJ)

Arianna Huffington, a founder of The Huffington Post, has signed a new four-year contract, ending speculation that she might leave now that her parent company, AOL(AOL), was acquired by Verizon (VZ).

Fitbit (FIT) shares were higher in premarket trading, after the exercise wearables maker surged 48 percentThursday in its stock market debut, the eighth best performance of an IPO so far this year. (CNBC Pro)

Three years ago, Wal-Mart (WMT) moved its "greeters"away from entrances in many stores. Now, the retail giant is experimenting with moving them back, in part to deter theft. (WSJ)

The Obama administration is set propose today new standards for big trucks-including garbage trucks, 18-wheelers, and heavy-duty pickups-designed to cut carbon emissions and lower fuel costs. (WSJ)

STOCKS TO WATCH
Activist hedge fund Jana Partners has taken a 7.2 percent stake in ConAgra (CAG). Jana said the food maker's shares are undervalued, and it's planning to nominate three directors to the ConAgra board.
Food company Post Holdings (POST) lowered its estimate of the impact of avian flu on its egg supply, following a new round of testing of its chicken flock.

In pharma news: China has turned down a patent application related to the Gilead Sciences (GILD) hepatitis C drug Sovaldi. Separately, Amgen (AMGN) said its Vectibix cancer drug met its primary goal in a late stage study.

American Express (AXP) has stopped prohibiting merchants from steering customers toward rival cards, after a judge ruled that the practice was anti-competitive.



Today's economic calendar:
Seeking Alpha
Today's Markets:
In Asia, Japan +0.9% to 20174. Hong Kong +0.3% to 26760. China -6.4% to 4481. India +0.7% to 27316.
In Europe, at midday, London +0.6%. Paris +1.3%. Frankfurt +1.1%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.1%. Crude -1% to $60.19. Gold -0.2% to $1200.10.
Ten-year Treasury Yield -4 bps to 2.31%
Notable earnings before today's open: KBHKMX

No comments:

Post a Comment