THIS WEEK'S MARKET MOVERS

 

Monday: 
Economic: New Home Sales (350K). Wildcard Eurozone credit markets with Spain's record yields and bad loan situation, as well as Greece's new coalition government still likely targets for daily drivers stateside.

Earnings: Apollo (APOL), HB Fuller (FUL), Synnex (SNX).

Tuesday: 
Economic: Consumer Confidence (63).

Earnings: LDK Solar (LDK), Robbins & Myers (RBN).

After Hours: H & R Block (HRB), Sealy (ZZ).

Wednesday: 
Economic:  Weekly Crude, Durable Orders (1.0%, 0.0%), Pending Homes (1.0%).

Earnings: Commercial Metals (CMC), Gen Mills (GIS), Lennar (LEN), Lindsay (LNN), McCormick (MKC), Monsanto (MON).

After Hours: Herman Miller (MLHR), Paychex (PAYX), Progress Sftwr (PRGS).

Thursday: 
Economic:  Weekly Claims (385K), Continuing Claims (3.29M), GDP Q1 3^rd Est. (1.9%, Deflator 1.7%).

Earnings: Family Dollar (FDO), Schnitzer Steel (SCHN), Worthington (WOR).

After Hours: Retail athletics giant Nike (NKE) reports after the close. Analysts expect profit growth of about 10.5% on earnings of $1.37 per share on sales of $6.5B compared to the prior year's $5.1B. Technically, shares are showing mixed signals. On the daily, a complex H & S top is being confirmed with a bearish flag built around a test of its 200SMA, which broke marginally lower during Thursday's session. The weekly view looks a bit more approachable for bulls as shares look to establish a W4 weekly low off 50-Week SMA support.

Other: Accenture (ACN), RIM (RIMM), TIBCO (TIBX).

Friday: 
Economic: Income & Spending (0.0%, 0.1%), PCE (0.2%), Chicago PMI (52), Michigan (73).

Earnings: NA.

THIS WEEK'S MARKET MOVERS

Monday: 
Economic: NAHB (prior 29). Wildcard Eurozone credit markets as long-awaited second election in Greece finds pro-austerity New Democracy looking to squeak by with a narrow majority much to the joy of our dear friends the Bovinus Optimist.

Earnings: IHS (IHS).

Tuesday: 
Economic: Housing Starts & Building Permits. 

Earnings: Economic bellwether FedEx (FDX) is one of two potentially influential reports this week with regards to the broader market. Shares of FDX have been in a four-month long tight counter-trend channel which has drifted lower against its in-motion weekly W5 which sports an estimated mid-TAPP of about $110 by the first half of October. Analysts expect the air and ground shipping giant to report profits of $1.92 per share compared to the prior year's $1.75 on sales of $11.13B.

Discover (DFS), FedEx (FDX).

After Hours: Adobe (ADBE), Jabil (JBL), La-Z-Boy (LZB).

Wednesday: 
Economic:  Weekly Crude, MBA Mortgage Index, FOMC Meeting!!

Earnings: Actuant (ATU), JinkoSolar (JKS).

After Hours: Bed Bath & Beyond (BBBY), CLARCOR (CLC), Micron (MU), Red Hat (RHT).

Thursday: 
Economic:  Weekly Claims, Continuing Claims, Existing Home Sales, Philly Fed, Leading Indicators, FHFA Housing Price Index.

Earnings: CarMax (KMX), ConAgra (CAG). 

After Hours: Oracle (ORCL) is the sole earnings report Thursday night and the second of two corporate confessionals which might rustle the undercarriages of either bulls or bears this week. Analysts expect profits of $0.78 per share compared to the year ago period's $0.75 on sales of $10.88B and revenue growth of 12.9%.

Technically, shares are carving out a symmetrical triangle of nearly 11 months on the weekly chart. For its part, our friend PS Elliott shows that same pattern signaling a Wave 4 EBOT and estimating markedly higher prices with a mid TAPP of $41 by mid-July. Our view is a downside resolution with an estimated short-term target of 23 – 24, has a much higher probability of occurring and you don't have to be an Oracle to appreciate that.

Friday: 
Economic: NA.

Earnings: NA.

THIS WEEK'S MARKET MOVERS

Monday: 
Economic: Wildcard Eurozone credit markets as policymakers convene over weekend and grant Spain's banks $125.0B lifeline to help shore up country's financial system. Limbo government / Eurozone status for Greece as country nears its second vote.

Earnings After Hours: Finisar (FNSR), Shanda Games (GAME).

Tuesday: 
Economic: Import / Export, Treasury Budget (-$125.0B).

Earnings: FactSet (FDS), Michael Kors (KORS).

After Hours: Casey's (CASY).

Wednesday: 
Economic:  Weekly Crude, MBA Mortgage Index, Retail Sales & Ex Auto (-0.2% & 0.0%), PPI & Core (-0.7% & 0.2%), Business Inventories (0.2%).

Earnings After Hours: Korn/Ferry (KFY).

Thursday: 
Economic:  Weekly Claims (375K), Continuing Claims (3.27M), CPI & Core (-0.2% & 0.1%).

Earnings: Kroger (KR), Pier 1 (PIR), Smithfield (SFD), Winnebago (WGO).

After Hours: JDA Software (JDAS).

Friday: 
Economic: Empire (13.5), IP & CU (0.1% & 79.1%), Michigan (77.0).

Earnings: NA.

THIS WEEK'S MARKET MOVERS

 

Monday: 
Economic: Factory Orders (0.1%). Wildcard Eurozone credit markets with primary drivers Spanish banking system and limbo government / Eurozone status for Greece.

Earnings After Hours: Dollar General (DG), Shuffle Master (SHFL).

Tuesday: 
Economic: ISM Services (53.0).

Earnings: Utd Nat Foods (UNFI), JA Solar (JASO), G-III (GIII).

After Hours: Bob Evans (BOBE), Christopher & Banks (CBK), Oxford (OXM), Ulta Salon (ULTA).

Wednesday: 
Economic:  Weekly Crude, MBA Mortgage Index, Productivity (0.7%), and Fed's Beige Book.

Earnings: Brown Forman (BF.B), Hovnanian (HOV), Vail Resorts (MTN).

After Hours: ABM (ABM), AMERCO (UHAL), Greif (GEF), Men's Wearhouse (MW), Pall (PLL), Pep Boys (PBY).

Thursday: 
Economic:  Weekly Claims (375K), Continuing Claims (3.25M), Consumer Credit ($12.7B).

Earnings: Anheuser-Busch (BUD), JM Smucker (SJM), Lululemon (LULU), Navistar (NAV), Titan (TITN), UTI World (UTIW).

After Hours: Cooper (COO), Exide (XIDE), Quiksilver (ZQK), Piedmont (PNY).

Friday: 
Economic: Wholesale Inventories (0.5%), Trade Balance (-$49.9B).

Earnings: Ferrellgas (FGP).