Fridays lower then expected GDP numbers shook the market a bit, and we ended an otherwise positive week, on a down note. Futures are in the green this morning, and commodities are rallying with Gold up nearly $20, and Silver/Platinum up nearly 2%. We are still quite close to all-time highs on the SPY, and looks like $160 is in reach this week.
Tons of earnings reports due, including BWLD after the close today. Spoke about a few of them on the week ahead and how I will be playing them. You can find the week ahead here:
Folks asked me about JCP yesterday, and I’ll continue to just watch, but some more possible good news on the horizon after the Soros stake last week and the loan this morning : http://www.nypost.com/p/news/business/blight_brigade_ZEKHp90e4vyaxxuELb4HoO
SINA finally had some good news as the rumored Alibaba stake became a reality as Alibaba announced a partnership as well as 18% stake in SINA with the possibility of 30% in the future. SINA is up over $11 right now and will wait and see how she plays out today.
Here are some of the analyst changes today:
DKS Dick's Sporting initiated with an Overweight at Barclays
PVH PVH Corp. added to U.S. Focus List at Credit Suisse
Credit Suisse added PVH to the U.S. Focus List given long-term earnings power of the combined Warnaco business acquisition, improved control of Calvin Klein distribution, improved product assortments, and consumer engagement. Shares are Outperform rated with a $139 price target.
DIS Disney upgraded to Buy from Neutral at UBS
UBS upgraded DIsney citing multiple levers to drive shares higher that include the contribution from retrans/reverse comp, an acceleration of return on capital, parks margin expansion, and recent acquisitions. Price target raised to $72 from $55.
ANF Abercrombie & Fitch upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded Abercrombie to reflect expectations for margin improvement and earnings expansion driven by management initiatives to improve fashion, reduce lead-times, and potential for increasing buybacks. Price target raised to $63 from $50.
FB Facebook Q1 revenue could miss expectations, says Piper Jaffray
Piper Jaffray believes Facebook could report Q1 revenue on Wednesday that misses consensus expectations by 1%-2%. Piper says the company's core ad revenue growth may not accelerate as fast as analysts expect. However, the firm thinks Facebook is positioning itself for sustained mid-term growth through investments in mobile and keeps an Overweight rating on the stock.
As I spoke about in the Week Ahead, like WU for a bounce over $15 and the calls are relatively inexpensive. WIll try and put another bid in for SAM ( I have 185 calls already). Will also try and play SOHU as they reported strong earnings this morning and may move $54-55 today:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
Will post in chat and twitter any trades. Will also be doing some DittoTrades today for those that follow.
Lets have a great day!