Futures are solid red this morning with the SPY set to open giving back all of it’s games from Tuesday. The Nikkei sold off over 2% as Abe’s new stimulus measures disappointed the market : http://invezz.com/news/equities/5817-nikkei-225-watch-index-slumps-as-abe-stimulus-plan-disappoints
Seems negative talk around the government shutdown has folks a little more concerned today then yesterday, and that has helped pressure equities. With no jobs report this friday, the ADP numbers out today will be seen as more important. They came in at 166k for September vs 180k estimates. Futures slipped a bit more after those numbers so yet to be seen if we have shaken the ‘bad news is good news’ stance the market has been running on for the past few years.
A nice read on the growing 3d printer sector: http://techcrunch.com/2013/10/02/gartner-3d-printer-market-forecast/
Obviously stocks like DDD, XONE and SSYS will continue to look to benefit. I know most love DDD, but i like SSYS over the long haul.
Would hope we find some support around $168 on the SPY and can scrap back some of the red this morning. Looks like high fliers were the place to be yesterday and think today maybe no different after the morning dip. PCLN has the most non-news premarket activity in recent memory and me be setting up for a move to $1100. AMZN also looks great after breaking over $320 again yesterday. Both will be on watch today.
ANGI was beating up after a filing out showing the CTO left. Folks are speculating that it may have a material impact on revenue and earnings, and the bears that have been salivating, destroyed the stock yesterday. 2 more analysts out today defending the company so hopefully that gets things back in the right direction.
Here are some of that analysts changes of note:
|ANGI Angie's List shares should be bought on weakness, says Stifel|
|After Angie's List's stock fell following the departure of its CFO, Stifel thinks that concerns over the departure are overdone. Stifel expects the company to report Q3 results that are at least in-line with expectations and it keeps a Buy rating on the shares|
|VRX Valeant price target raised to $123 from $109 at BMO Capital|
|BMO Capital raised its price target on Valeant (VRX) as the firm expects the company to benefit from reduced competition and new product licensing opportunities as a result of Merck's (MRK) downsizing plans. The firm reiterates an Outperform rating on Valeant|
|SPLK Splunk price target raised to $75 from $61 at FBR Capital|
|FBR Capital raised its price target for Splunk to $75 following the company's analyst day and annual user conference. The firm keeps an Outperform rating on the stock|
|KO Coca-Cola estimates lowered on yen exposure at JPMorgan|
|JPMorgan lowered its 2014 earnings estimate for Coca-Cola to $2.20 from $2.27 on expectations the hedged value of the company's yen exposure will be down about 22% next year. The firm expects another round of negative 2014 earnings revisions and keeps a Neutral rating on Coke with a $43 price target|
|ANGI Worries over Angie's List e-commerce outlook overdone, says Oppenheimer|
|After the departure of Angie's List's CTO caused investors to question the company's ability to ramp up its e-commerce revenue, Oppenheimer reports that its estimates for the company are among the highest on the Street, yet assume no growth in e-commerce in 2014 and beyond. The firm thinks the stock offers the best risk/reward profile among high-growth Internet companies focused on local marketplaces, and reiterates an Outperform rating on the shares|
|TTWO Take-Two 2013 EPS estimate raised at Stifel|
|Stifel increased its FY14 EPS estimate for Take-Two to $2.80 from $2.43, citing stronger than expected sales of the company's GTA V game. The firm expects the company to benefit significantly from digital sales of the game, and it thinks the visibility of the company's game pipeline should improve going forward. Stifel keeps a Buy rating on the stock|
|REGN Regeneron price target raised to $367 from $315 at Brean Capital|
|Brean Capital raised Buy rated Regeneron's price target to $367 based on positive results from the VIVID/VISTA trials with Eylea for DME. The firm expects Eylea peak sales for DME to exceed peak sales for wet AMD|
|ANGI Angie's List pullback a buying opportunity, says Piper Jaffray|
|Piper Jaffray attributes the recent pullback in shares of Angie's List to concerns around the CTO departure and declining analyst estimates. However, Piper expects Angie's to report in-line September quarter results and says the CTO departure was driven by the company taking steps to better align its platform for the future. The firm keeps an Overweight rating on the stock with a $30 price targe|
Here are the strikes I am looking at for today:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
Lets have a great day!!