Thursday, March 7, 2013

Thursday, March 7th pre-mkt outlook

The /ES looks to open around 1543 after closing at 1539.50. It hit an overnight low of 1537.50 and a high of 1544 at 1543.50 at 0850.

$PETM has had some bearish options flow lately and is getting hit hard on earnings. The stock closed at 66.70 and looks to open around 61.70. It hit an extended market low of 60.20 and a high of 62.25.

$CIEN is trading higher at 17.00 after posting earnings. It closed at 14.90, then traded in the extended market at a low of 16.50 and a high of 17.32.

$GMCR is in the news after making a deal with Unilever's Lipton teas. The stock closed at 49.20 and is trading at 50.25 in the pre-mkt. I don't think this is warranted, since one can make tea rather easily without using a k-cup, unless one is total idiot.

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