Good morning. Happy Wednesday.
The Asian/Pacific markets closed mostly down. Australia and India dropped more than 2%; South Korea and China fell more than 1%. Europe is currently mixed. Germany and Italy are up more than 1%; Spain and France are also doing well. Russia is down 0.8%; Switzerland is down 0.5%. Futures here in the States point towards an up open for the cash market.
Thanks for your votes on my public list at stockcharts.com. Keep ’em coming.
The dollar is down. Oil is up, copper is down. Gold and silver are down. Bonds are down.
The market got spanked yesterday while oil was the loan bright spot. Crude gapped up and held its gains all day. Today it’s going to jump again at the open. It’s up about $1.40 or 2.3%. Here’s the chart.
Unfortunately the strength in crude didn’t help many oil stocks. Many gapped up and then proceeded to give everything back during the day.
Otherwise the market remains in the same state it’s been in, if not a weaker state. The small caps are lagging…the breadth indicators suggest a lack of broad-based participation…we have a lack of very good set ups to play. If our goal is to play the easy and obvious charts that “jump off the screen” at us, there isn’t much to do.
Don’t force trades. Don’t churn your account. As of yesterday’s close (or today’s anticipated open) the S&P was unchanged going back one month, two months, three months…heck it was unchanged going back to December. There have been lots of ups and downs and virtually no progress in either direction.
Be conservative. More after the open.
Stock headlines from barchart.com…
Convergys (CVG -0.74%) reported Q1 adjusted EPS of 47 cents, better than consensus of 40 cents
News Corp. (NWSA -0.93%) reported Q3 adjusted EPS of 5 cents, less than consensus of 7 cents.
CenturyLink (CTL -1.42%) reported Q1 adjusted EPS of 67 cents, above consensus of 59 cents.
Trinseo (TSE -2.02%) reported Q1 adjusted EPS of 80 cents, below consensus of 81 cents.
Team Health (TMH -1.67%) reported Q1 adjusted EPS of 68 cents, better than consensus of 60 cents.
Community Health (CYH -3.63%) reported Q1 EPS of 79 cents, above consensus of 66 cents, but Q1 revenue of $4.911 billion was below consensus of $5.010 billion
Frontier Communications (FTR -1.89%) reported Q1 adjusted EPS of 2 cents, half as much as consensus of 4 cents.
Andersons (ANDE -0.83%) reported Q1 adjusted EPS of 42 cents, higher than consensus of 34 cents, but Q1 revenue of $950 million was less than consensus of $962.05 million.
Allstate (ALL +0.26%) reported Q1 EPS of $1.46, above consensus of $1.44.
Herbalife (HLF -4.71%) jumped 13% in after-hours trading after it reported Q1 adjusted EPS of $1.29, higher than consensus of $1.01, and then raised guidance on fiscal 2015 adjusted EPS outlook to $4.30-$4.60, better than consensus of $4.22.
Groupon (GRPN -2.84%) fell over 4% in after-hours trading after it reported Q1 EPS of 3 cents, better than consensus of 1 cent, although Q1 revenue of $750.4 million was less than consensus of $812.19 million.
Electronic Arts (EA -0.25%) climbed nearly 5% in after-hours trading after it reported Q4 adjusted EPS of 39 cents, well above consensus of 25 cents, and then raised guidance on fiscal 2016 adjusted EPS to $2.75, better than consensus of $2.64.
Mylan (MYL -0.22%) reported Q1 adjusted EPS of 70 cents, above consensus of 69 cents, but Q1 revenue of $1.87 billion was below consensus of $2.06 billion.
AmSurg (AMSG -2.42%) reported Q1 adjusted EPS of 62 cents, higher than consensus of 57 cents, and then raised guidance on fiscal 2015 EPS outlook to $3.31-$3.39 from $3.24-$3.32, above consensus of $3.26.
Fiserv (FISV -1.45%) reported Q1 adjusted EPS of 89 cents, better than consensus of 86 cents, although Q1 revenue of $1.28 billion was below consensus of $1.29 billion.
Earnings and Economic Numbers from seekingalpha.com…
Today’s economic calendar:
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Productivity and Costs
8:30 Gallup U.S. Job Creation Index
8:30 Treasury Refunding Quarterly Announcement
9:15 Janet Yellen
10:30 EIA Petroleum Inventories
1:30 PM Fed’s Lockhart: Monetary Policy
Notable earnings before today’s open: ANSS, ARQL, ATHM, AVA, AYR, BAM, BUD, CEQP, CHH, CHK, CKSW, CLH, CMLP, CRNT, CRZO, CSTE, DAVE, DDD, DNR, EE, EGAN, ENB, EXK, GDP, GLOG, HAIN, HCLP, HFC, HSC, HSNI, HTA, IMN, INFI, KELYA, LAMR, LG, LINC, MEMP, MPO, MSI, MWE, NOR, NXTM, OXY, PERI, PGNX, POWR, RDC, RHP, SBGI, SCMP, SE, SNH, SODA, STRA, SUP, SWC, TMHC, OTCQB:TRXC, VG, VOYA, VSI, WCG, WD, WEN, WIX, WMC, WPX, XLS, XRAY
Notable earnings after today’s close: ACAS, ALB, ALDW, AMTG, ANAC, AREX, ATML, ATO, ATVI, AUQ, AWK, BEAT, BGC, BNFT, BREW, BRKR, BWC, CCRN, CECO, CF, CHEF, CHGG, CJES, CKP, CLR, CLVS, CODI, CPA, CPE, CSLT, CSOD, CUZ, CXW, CZR, DMD, DPM, ECR, EFC, EGN, ENSG, EPAM, EPM, EQC, ESS, ETE, ETP, EXTR, EXXI, FLTX, FNGN, FNV, FOXA, FRSH, GBDC, GMCR, GUID, HIVE, HR, HUBS, IL, IO, IVR, JKHY, JONE, KIM, KND, KW, LCI, LGCY, LHCG, MASI, MCHX, MELI, MET, MITT, MRIN, MRO, MTDR, NEWP, NLY, NP, NSIT, NSTG, NUS, OAS, ORA, OSUR, PAYC, PDLI, PEGA, PFMT, PGTI, PHH, PMT, PNNT, PRAA, PRI, PRU, PSEC, PTLA, QLTY, QTM, REG, RIG, RIGP, RST, RYN, SBY, SD, SGM, SLH, SN, SQNM, SUN, SWM, SXL, SZYM, TCAP, THRX, TRIP, TROX, TSLA, TTPH, TUMI, TWO, VECO, VNDA, VRNS, VVC, WBMD, WFM, WGL, WTI, XNPT
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings
this week’s Economic Numbers