Thursday, January 9, 2014

Thursday Jan 9 outlook

The /ES looks to open around 1835 after closing at 1832 yesterday. It hit an overnight low of 1829 and a high of 1839. The 10yr is trading around 2.979 after finishing yesterday at 2.993. The VIX finished at 12.93.

$BBBY 17.1b - is out with earnings which disappointed. The stock closed at 79.65 and is currently trading around 72.55. It traded at a high of 73.90 and a low of 71.55. It has been trading in a range between 72 and 73 in the pre-mkt and that 72 area looks to be key support dating back to Sept '12.

From Marketwatch:

Bed Bath & Beyond BBBY -9.07%  late Wednesday reported its fiscal third-quarter profit rose to $237.2 million, or $1.12 a share, from $232.8 million, or $1.03 a share, in the year-earlier period. Revenue rose 6% to $2.87 billion. Analysts polled by FactSet had estimated the retailer would earn $1.15 a share on $2.88 billion in revenue. Same-store sales grew 1.3% versus 1.7% a year earlier. However, the company trimmed its full-year earnings outlook to a range of $4.79 to $4.86 a share from $4.88 to $5.01 a share previously. Shares of Bed Bath & Beyond fell over 8% in after hours.

$FDO 7.5b - is another stock out with earnings getting hit in the pre-mkt. It closed at 66.31 and dropped to a low of 59.50 and is currently trading near the pre-mkt high at 61.51. The chart is super gappy and I would look to 60 as support.

From Marketwatch:

Family Dollar Stores Inc. FDO -7.30% reported its first quarter profit fell to $78.0 million, or 68 cents a share, from $80.3 million, or 69 cents a share, a year earlier. Revenue rose 3.2% to $2.50 billion, from $2.42 billion a year earlier, the wholesaler said Thursday. Analysts had expected earnings of 69 cents a share on revenue of $2.51 billion, according to FactSet. The company's top line was pressured in the most recent three months, with second-quarter same store sales dropping 2.8%. The firm warned it sees same-store sales falling in the low single digits in the current quarter, and a per-share earnings range of 85 cents to 95 cents. Shares in Family Dollar slid 9.6% in premarket trading, according to FactSet.

Then there's $M 19.2b which is trading 6% higher. The stock is breaking out past 54 resistance and trading at new all time highs at 55. It had support around 54.50 then spiked to 55.79 and is currently trading around 55 off the following news from Marketwatch:

Macy’s M +6.25%  said it will cut 2,500 jobs and close five underperforming stores. It also reported same-store sales in November and December rose 3.6% and narrowed its sales outlook in the second half of the year to a range of 2.8% to 2.9% from its prior guidance of 2.5% to 4% growth. However, it kept its full-year profit forecast unchanged at $3.80 to $3.90 a share. Macy’s stock jumped more than 5% in after-hours trading.

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