Lets see if the mini two day rally to end last week continues today after a volatile start to June. There are few catalysts this week and the FOMC meeting June 18th-19th will continue to generate buzz : http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Earnings are light as well but LULU could be interesting at the bell, although positions are pricey. ULTA also reports tomorrow after the bell. The Nikkei closed up nearly 5% overnight, the biggest rally since 2011, and will most likely head back to previous highs over the next week or two.
AAPL has it’s WWDC today and could provide a bid in shares depending on some announcements. Folks are expecting some announcement on music streaming, the new IOS, developers access to Apple TV, and possibly an update to Maps. We shall see.
FB was upgraded today and is seeing a nice bid in the pre-market. TSLA was the front cover story on Barron’s with a negative spin and $50 price target which has the stock under $100 pre-market. Musk hung up on the interviewer claiming they had no clue about the industry, and quite honestly i agree with some of that, as the article was using BMW and F fundamentals to warrant their price valuation for TSLA. Either way, will hope for a break to $85 and I will go calls.
If you missed it, here is the week ahead from last night : https://www.optionmillionaires.com/forum/showthread.php/438-The-Week-Ahead-with-UPB-and-JPB-6-9-2013
Here are some of the analyst changes today:
CRM Salesforce.com price target raised to $65 from $51.75 at Wunderlich |
Wunderlich raised its price target for Salesforce.com citing a more positive outlook post the company's acquisition of ExactTarget. The firm keeps a Buy rating on the stock |
WU Western Union upgraded to Outperform from Market Perform at Raymond James
AAPL Piper sees 80% chance of iRadio at today's Apple event |
Piper sees an 80% chance of Apple announcing its iRadio ad supported music service at today's WWDC keynote. The firm sees a 90% chance of Apple unveiling a redesigned operating system and an 80% chance of new maps and an update to Siri. Piper reiterates an Overweight rating on shares of Apple with a $655 price target |
MON Monsanto upgraded to Outperform from Neutral at Macquarie |
Macquarie upgraded Monsanto based on relative valuation. Price target raised to $117 from $105 |
FB Facebook upgraded to Buy from Hold at Stifel |
Stifel upgraded Facebook with a $29 price target citing near-term catalysts and its belief that shares have bottomed. The firm sees potential catalysts from inclusion in the S&P 500 Index, enthusiasm over back-to-school, and the monetization of Instagram |
Cree price target raised to $70 from $59 at Stifel |
Stifel increased its price target on Cree based on strong LED lighting adoption trends. The firm thinks that the company will be at the high end of its Q4 guidance range or surpass the range. The firm keeps a Buy rating on the shares |
FB JPMorgan reiterates Overweight on Facebook after weakness |
JPMorgan attributes the recent underperformance in shares of Facebook to concerns around user engagement and monetization into the back half of the year. However, the firm believes competing services are having only a modest impact on time spent on Facebook and reiterates an Overweight rating on the stock with a $35 price target |
Ulta Salon shares should be bought ahead of earnings, says Sterne Agee |
Sterne Agee expects Ulta's Q1 results to surpass its guidance, and the firm predicts that the company's Q2 guidance will be solid. Sterne Agee keeps a Buy rating on the stock |
Here are the strikes I am looking at for the open:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
CME | CALL | $75.00 | June | 0.35 | 0.35 |
WYNN | CALL | $147.50 | June | 0.31 | 0.30 |
Will be keeping it small for now. Stay tuned for chat and twitter for updates.
Lets have a great day!
- JB