What a great start to the week, as the SPY closed solidly above the 50dma as Syria fears were somewhat removed with a possible diplomatic solution on the table. The Nasdaq closed at all-time highs and will look to possibly continue the run with the AAPL event as a possible catalyst for the move higher.
SHLD continued its torrid run and has been a money maker on the call side. Funny how the bandwagon starts forming yesterday and those trying to explain the run say its a short squeeze. I think there is plenty of room to go and will watch 58 as possible next point of resistance. Nice piece out by Bakers Street on SHLD : http://www.bakerstreetcapital.com/BakerStreet_SHLD.pdf They actually hired someone to evaluate the real estate value which they put a price tag of $7+ billion. They also think the stock at $40 is 1/3rd valued meaning $120 stock. I know thats crazy but should bode well for a move higher here.
PVH reported some good earnings last night but issued weak guidance. Hopefully it finds some footing after the open and can head back over $130. Still love SFLY, SINA, OPEN, CMG, SAM, and Z here. Will probably look to grab more SINA calls at the open today as well as possible Z if it shows some strength. Big economic numbers at the end of the week on the PPI, which may help keep GOLD prices down. Not set on getting puts yet but will be watching!
Here are some of the analyst changes for today:
PVH Corp. viewed as core position for consumer investors, says Brean Capital
Brean Capital said PVH Corp remains its favorite large cap apparel name following its better than expected Q2 results. The firm believes momentum continues at its key brands and its Warnaco acquisition remains on track for solid results in 2015. Brean Capital would use any weakness to add to or initiate positions. Shares are Buy rated with a $150 price target
PVH Corp. weakness a buying opportunity, says Buckingham |
Buckingham recommends buying PVH Corp on weakness following the Q2 report. The firm said the WRC integration is on plan and PVH's outlook is conservative. Shares are Buy rated with a $140 price target |
FIVE Five Below shares should continue to advance, says UBS |
UBS believes that Five Below reported very good Q2 results, while its guidance is likely conservative. The firm expects the company to benefit from the popularity of its rubber band bracelets, and easier comps over the next few quarters. UBS keeps a Buy rating on the stock |
FRAN Francesca's long-term margin concerns easing, says Cowen |
Cowen recommends investors accumulate shares of Francesca's following meetings with management. The firm believes sentiment towards the concept's long-term potential is improving and its margins structure is easing. Shares are Outperform rated with a $23 price target |
URBN Urban Outfitters decelerating trends could pressure valuation, says RW Baird |
Baird is encouraged by recent signs of progress in the turnaround at Urban Outfitters but believes the deceleration since August may raise near-term uncertainty. The firm noted comparisons are most difficult in September but ease in October and trimmed their estimates and price target accordingly. Shares remain Neutral rated and price target lowered to $47 from $48 |
LVS Las Vegas Sands shares should move higher near-term, says JPMorgan |
JPMorgan sees a number of near-term catalysts for Las Vegas Sands that should move the stock higher, including possible earnings upside in Q3 related to Macau and a dividend increase in Q4. The firm raised its price target for shares to $72 from $66 and keeps an Overweight rating on the name |
JBL Jabil Circuit upgraded to Strong Buy from Buy at Needham |
Needham upgraded Jabil Circuit ahead of the Q4 report on September 25 based on stable to improving fundamentals year-over-year, Nypro scale, likely Apple share gains, and healthy earnings growth. Price target raised to $28 from $24 |
SPG Simon Property initiated with a Buy at Janney Capital |
Target $165 |
FIVE Five Below price target raised to $51 from $40 at Deutsche Bank |
Deutsche Bank raised its price target for Five Below following the company's better than expected Q2 results and keeps a Buy rating on the stock |
Here are the strikes I am watching:
Stock Ticker | Call/Put | Strike | Expiration | Closing Price | Entry Price |
SINA | CALL | $110.00 | OCT | 0.39 | 0.39 |
SINA | CALL | $87.50 | Weekly | 0.25 | 0.25 |
Z | CALL | $104.00 | Weekly | 0.50 | 0.45 |
Stay tuned for updates in chat and twitter.
Lets have a great day!
- JB