SHEDDING LIGHT ON SOLIS TEK INC (OTCMKTS:SLTK)

Solis Tek Inc (OTCMKTS:SLTK) is a rising superstar in the green sector. They have vertically integrated their entire business model and even diversified to other related sectors to lessen their market risk. Let us shed light on this very interesting company whose product portfolio includes efficient indoor horticulture lighting, which has applications not only for the legal cannabis market, but also reaches out to take the aquaponics sector. Now that’s a bright future!

SLTK has the proverbial finger in every pie for the green industry; they have operations beginning from research and then manufacturing and then retailing consumers. They market their products to institutional buyers and also cater to end consumers. While they are more well-known in the cannabis sector, they also have branched out to horticulture, specifically aquaponics, with their new line-up of products.

Another piece of news that makes Solis Tek Inc (OTCMKTS:SLTK) such a rising star is their growing market. Regarding bottom-line financials, we can practically hear the enthusiasm and optimism of management. Dennis G. Forchic, Chief Executive Officer of Solis Tek, on quarter financial standings, reported:

“In the first quarter of 2017, we delivered record top line revenue and significantly improved gross margins. Our strong revenue performance drove record gross profit for Solis Tek and although net income was negative according to GAAP, on a Non-GAAP adjusted basis we were almost break-even for the quarter.” He further stated, “As a company focused on providing products and solutions to commercial and non-commercial cannabis cultivators, we are uniquely positioned to capitalize on the rapid growth of the cannabis market. Solis Tek is a strong nationally recognized brand in lighting for the cannabis industry and has established itself as a supplier of lighting to top growers for nearly a decade. Our first quarter of 2017 was highlighted by a number of new clients acquiring our digital lighting products as well as a number of significant expansion projects from our existing customers. I believe Solis Tek is poised to continue to build market share within the cannabis industry and I am excited to have joined the Company at an inflection point in its growth and path towards maximizing its potential.”

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With the incoming legalization of recreational marijuana in Nevada this July, we can expect more revenues for SLTK.

Their financial history also shows an increasing pace. According to the SLTK press release:

“…reported record revenues for the year ended December 31, 2016 of $8,563,751 compared to revenue of $7,713,456 in 2015. This represents an 11% increase in revenue over 2015. Gross profit for the years ended December 31, 2016 and 2015, was $3,123,859 and $2,719,036, respectively. The gross profit increase of $404,823 or 15% was primarily due to the increase in revenue.

Business and Financial Highlights for 2016

– Company had revenues of $8,563,751 for 2016; up 11% from full year 2015;

– Gross Profit of $3,123,859 for fiscal 2016; up 15% from full year 2015;

– Gross Margins increased to 36.5% up from 35.3% in 2015;

– Cash balances increased 159% year over year;

– Won Dope Magazine’s 2016 Best Lighting Company Award.”

SLTK is still in ranging mode; there is a bollinger band squeeze and lessening of volume after the stock broke the near-term resistance of 1.900 and has made a new support line around 1.6375. Stock is currently trading at 1.72 with RSI at 49, supporting the view that it is still ranging. We could see a big impact come July when legalization for Nevada pushes through. Many investors will be in accumulation phase whenever they see opportunity to buy this stock , namely when it hits support lines. For continuing coverage on shares of $SLTK stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

The Market In 5 Minutes 5/22/2017

  • While some investors fear the uncertainty of possible Trump impeachment proceedings, others seem to be realizing that the possibility of a Mike Pence presidency could be the best possible news for investors:
  • Now that most companies have reported first-quarter earnings, Benzinga took a look at some of the largest, most popular tech companies in the world to determine how much value investors are getting from a share of stock at the current market price:
  • Last week, a deal was confirmed between the ride-hailing service Lyft and autonomous car company Waymo, an Alphabet Inc (GOOG) (GOOGL) subsidiary. While the companies are keeping hush on details, each offered statements confirming the deal:
  • Wal-Mart Stores Inc (WMT) shook up the business world after announcing its massive acquisition of Jet.com to boost its e-commerce operations last August. It’s huge e-commerce bet on Marc Lore is starting to pay off:
  • Pandora Media Inc (P) is on the market with a 30-day sale goal, and none but Sirius XM Holdings Inc. (SIRI) seems to notice: THE WALL STREET JOURNAL
  • Ford Motor Co. (F) will replace Chief Executive Mark Fields with Jim Hackett, the former head of office-furniture maker Steelcase Inc. who joined the auto maker in 2016, according to people familiar with the matter:
  • The future of Arconic Inc. (ARNC) is up for grabs this week in a tightly fought shareholder vote that will test the growing power of activist investors:
  • Former managers at one of the largest U.S. solar-energy companies, Sunrun (RUN), say they manipulated a key sales metric around the time of the company’s August 2015 initial public offering:
  • For decades, investors imagined a time when data-driven traders would dominate financial markets. That day has arrived:

REUTERS

  • The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics
  • Barclays will hire 100 new staff in its private bank as it launches its second attempt in the last seven years to win more business from wealthy clients, a source with direct knowledge of the plans told Reuters:
  • Akzo Nobel shareholders angered by the Dutch paint maker’s rejection of a 26.3 billion euro ($29.5 billion) takeover offer from U.S. rival PPG Industries (PPG) on Monday took their fight to an Amsterdam court:

    BLOOMBERG

  • Battery-making gigafactories are about to arrive in Europe, challenging a lead Tesla Inc. (TSLA) is building at a plant in Nevada and opening the way for a quicker shift toward green power for both cars and utilities
  • Oil advanced a fourth day in the build-up to OPEC’s gathering in Vienna this week, asspeculation grows that production cuts will be extended into next year:
  • Blackstone Group LP (BX), the world’s biggest private equity manager, is eyeing more than $100 billion in infrastructure investments with a new strategy anchored by Saudi Arabia’s Public Investment Fund:
  • For commodity traders operating in the Information Age, just good old trading doesn’t cut it anymore:

NY POST

  • Robots really mean skyrocketing economic growth and higher-paid jobs, a new think-tank report reveals:

CONSUMER

ENERGY

Energy XXI (EXXI) Q1 GAAP EPS $(1.97), Sales $157.91M vs $116.29M YoY, Earnings Includes Impairment Charge

INDUSTRIALS

FINANCIALS

HEALTHCARE

Biostar Pharmaceuticals (BSPM) Reports Q1 EPS $(0.38) vs $(0.28) In Same Qtr. Last Year, No Sales vs $801.627K YoY

TECHNOLOGY

Booz Allen Hamilton (BAH) Q4 EPS $0.45 vs $0.43 Est, Sales $1.58B vs $1.48B Est
Cheetah Mobile (CMCM) Q1 Adj. EPS $0.12 vs $0.03 Est, Sales $172.99M vs $170.97M Est

ECONOMIC FIGURES

08:30 a.m. Chicago Fed National Activity Index

10:00 a.m. FOMC Member Harker Speaks

10:30 a.m. FOMC Member Kashkari Speaks

11:30 a.m. 6-Month Bill Auction

11:30 a.m. 3-Month Bill Auction

7:30 p.m. FOMC Member Brainard Speaks

Analyst & Shareholder Meetings

  • 9:00 a.m. Royal Caribbean Cruises (RCL)
  • 10:00 a.m. DeVry Education (DV)
  • 12:00 p.m. Targa Resources (TRGP)
  • 1:00 p.m. Travelzoo (TZOO)
  • 1:00 p.m. Twitter (TWTR)
  • 2:00 p.m. Morgan Stanley (MS)

UPGRADES

  • JP Morgan Upgraded Qualcomm (QCOM) from Neutral to Overweight
  • B. Riley Upgraded Genesco (GCO) from Neutral to Buy
  • Barclays Upgrades Mylan (MYL) From Equal-Weight to Overweight

DOWNGRADES

  • JP Morgan Downgraded Centene (CNC) from Overweight to Neutral
  • DA Davidson Downgraded Arista Networks (ANET) from Buy to Neutral
  • Baird Downgrades Zoe’s Kitchen (ZOES) From Outperform to Neutral

Deal Talk

  • Huntsman Corporation (NYSE: HUN) is close to an agreement to merge with Clariant in a deal valued at around $14 billion, according to the Wall Street Journal. Huntsman shares gained 3.37 percent to close at $26.71 on Friday.

US OPTIONS RECAP

  • NKE Nike Jul 52.5 Calls: 1000 @ ASK $1.44: 4932 traded vs 943 OI: Earnings 6/27 After Close (est) $51.78 Ref

     

  • NKE Nike Oct 55.0 Calls Sweep: 554 @ ASK $1.58: 991 traded vs 2113 OI: Earnings 6/27 After Close (est) $51.89 Ref

     

  • MAT Mattel Jul 23.0 Calls Sweep: 2998 @ ASK $0.90: 3001 traded vs 1123 OI: Earnings 7/20 After Close (est) $22.26 Ref

     

  • GIMO Gigamon Oct 35.0 Puts: 1000 @ ASK $2.95: 2275 traded vs 194 OI: Earnings 7/27 After Close (est) $37.97 Ref

     

  • MDRX AllScripts Jun 13.0 Calls: 500 @ ASK $0.10: 1007 traded vs 392 OI: Earnings 8/3 After Close (est) $11.92 Ref

     

  • RT Ruby Tuesday Jul 2.5 Calls: 1000 @ ASK $0.20: 3000 traded vs 6163 OI: Earnings 7/20 After Close (est) $2.26 Ref

     

  • SBUX Starbucks Jul 60.0 Puts Sweep: 1800 @ ASK $0.909: 1825 traded vs 2893 OI: Earnings 7/27 After Close (est) $61.66 Ref

     

  • RT Ruby Tuesday Jul 2.5 Calls: 2000 @ ASK $0.20: 2000 traded vs 6163 OI: Earnings 7/20

     

  • RHI Robert Half Jun 50.0 Calls Sweep: 1104 @ ASK $0.213: 2060 traded vs 205 OI: Earnings 7/20 After Close (est) $46.20 Ref

     

  • MDLZ Mondelez June 2018 $38 Put; 2000 @Bid @$1.77; Ref=$45.58

     

  • NKE Nike Jul 52.5 Calls Sweep: 661 @ ASK $1.485: 1642 traded vs 943 OI: Earnings 6/27 After Close (est) $51.83 Ref

     

  • HLF Herbalife Jan18 45.0 Puts: 600 @ ASK $1.83: 600 traded vs 2716 OI: Earnings 8/3 After Close (est) $71.14 Ref

     

  • SNAP Snap May $20 Put @Bid @$0.06; Ref=$20.29

     

  • NKE Nike

Nasd 100…FANG names are attracting the new buying.

Nasd 100…FANG names are attracting the new buying.
A close over 5636 keeps the Nasdaq in a Risk On footing.
Spu’s…need a close over 2379 to keep the weekly pattern intact.
The later it gets in the day the greater the propensity of a melt up.

Short-term traders can still sell closer to 2379 early in the day looking for price rejection but only for a scalp, not a longer-term short.

Fighting the Bull late day on a Friday has proven to be a very low probability endeavor.

Cisco’s Sell-Side Roundup: The Good And Bad In Q3, And What’s Next

Cisco Systems, Inc. CSCO‘s fiscal third-quarter earnings report and fourth-quarter guidance was alarming enough for investors to send the stock lower by more than 7 percent Thursday.

Here is a summary of what some of Wall Street’s most notable analysts are saying after the report.

Citi: Maintain At Buy

Citi’s Jim Suva maintains a Buy rating on Cisco’s stock with a price target lowered from $37 to $36.

According to Suva, Cisco’s earnings report came in better than expected, but the company’s guidance fell short of expectations. But the analyst remains bullish on the stock as the company’s earnings per share could benefit by around 16 percent to 20 percent under President Donald Trump’s tax reforms.

The analyst also noted that around 3 percent points of Cisco’s sales declines from a year ago is attributed to the company’s shift to a subscription model along with a decline in business from the federal government.

MKM: ‘Modest’ Progress Seen

MKM Partners’ Michael Genovese maintains a Neutral rating on Cisco’s stock with a price target lowered from $35 to $34.

Genovese noted that Cisco’s “solid” third-quarter report is overshadowed by the fact that the company has only shown “modest” progress in its business transition. Specifically, 31 percent of revenue in the quarter came from recurring sources, which does mark an increase from 29 percent in the prior year but still consistent with prior quarters.

Looking forward, Cisco’s stock could re-rate higher as the company’s percentage of recurring revenue increases.

Wunderlich: Tough Environment

Wunderlich’s Matthew Robison maintains a Hold rating on Cisco’s stock with an unchanged $30 price target.

Robison’s unchanged view stems from the fact that the earnings report shows that the legacy tech company is operating in a tougher-than-expected environment but there are some encouraging signs, including a better-than-expected performance in the routing segment.

Robison also believes Cisco’s progress toward building a company that boasts a strong recurring revenue mix will be “gradual” although there are no immediate catalysts to excite shareholders in the near term.

Cowen: Weak Outlook But Still A Buyer

Cowen’s Paul Silverstein maintains an Outperform rating on Cisco’s stock with an unchanged $39 price target.

Silverstein acknowledged the “disappointing” revenue growth seen in the third quarter but also highlighted the company’s margin structure remains “impressive.” Since these two factors cancel each other out, the analyst maintains a bullish stance on Cisco’s stock, which is trading at a “highly favorable” risk to reward profile.

Jefferies: Not As Bad

Jefferies George Notter maintains a Buy rating on Cisco’s stock with an unchanged $37 price target.

While Notter admitted to being “frustrated” with Cisco’s guidance, it is hard to believe the overall IT spending environment is as bad as the guidance assumes it to be.

The analyst also highlighted the fact that Cisco’s operating margins hit 32.3 percent, which marks its best margin result dating back all the way to the July 2004 ending quarter. Looking forward the analyst is confident that the company can at the very least sustain margins, if not improve them further.

Wall Street’s M&A Chatter From May 18: B. Riley-Wunderlich, Lowe’s-Maintenance Supply, Energy Transfer-PennTex Midstream Partners

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, May 18, 2017.

Energy Transfer Partners Makes Tender Offer To Purchase PennTex Midstream Partners for $20/Unit Cash

The Tender Offer:

Energy Transfer Partners LP ETP announced a tender offer to purchase all of the outstanding common units representing limited partner interests in PennTex Midstream Partners, LP PTXP not currently owned by ETP for $20.00 per common unit in cash. ETP currently owns approximately 32.4 percent of the outstanding PennTex common units. The tender offer will expire on June 19, 2017, unless the offer is extended in accordance with its terms.

There can be no assurance that the tender offer will be completed. The tender offer is subject ETP and its affiliates owning more than 80% of the outstanding PennTex common units following completion of the tender offer.

PennTex Midstream Partners closed at $16.65, and traded at $19.87 after-hours.

Lowe’s to Acquire Maintenance Supply Headquarters for $512M

The Deal:

Lowe’s Companies, Inc. LOW announced it has agreed to acquire the distributor of MRO products to the multifamily housing industry, Maintenance Supply Headquarters, for $512 million. The acquisition is expected to be completed in Lowe’s FY Q2, subject to regulatory approval.

Lowe’s closed at $84.05, up $0.30.

B. Riley Financial to Acquire Wunderlich Securities for $67M

The Deal:

B. Riley Financial Inc RILY has signed a definitive agreement to acquire Wunderlich Securities in a cash and stock deal valued at $67 million. The purchase price consists of $36 million in cash, 1.9 million shares of B. Riley Financial common stock, and warrants to purchase 0.82 million shares of B. Riley common stock.

The transaction is expected to close in June 2017.

B. Riley closed at $14.05, up $0.35.

A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Campbell Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Campbell Soup Company CPB. St. Louis Federal Reserve Bank President James Bullard is set to speak in St. Louis at 9:15 a.m. ET, while San Francisco Federal Reserve Bank President John Williams will speak in San Francisco at 1:40 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 29 points to 20,673.00, while the Standard & Poor’s 500 index futures rose 5.50 points to 2,369.00. Futures for the Nasdaq 100 index gained 13.25 points to 5,643.75.

Oil prices traded higher as Brent crude futures rose 1.18 percent to trade at $53.13 per barrel, while US WTI crude futures gained 1.18 percent to trade at $49.93 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.70 percent, STOXX Europe 600 Index surging 0.41 percent and German DAX 30 index gaining 0.23 percent. The UK’s FTSE index was trading higher by 0.43 percent, while French CAC 40 Index climbed 0.48 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.19 percent, Hong Kong’s Hang Seng Index rose 0.15 percent, China’s Shanghai Composite Index gained 0.02 percent and India’s BSE Sensex rose 0.10 percent.

Broker Recommendation

Analysts at Macquarie downgraded Pandora Media Inc P from Outperform to Neutral.

Pandora shares rose 5.49 percent to close at $9.42 on Thursday.

Breaking news

  • Deere & Company DE reported stronger-than-expected earnings for its second quarter.
  • Gap Inc GPS reported stronger-than-expected earnings for its first quarter on Thursday.
  • Foot Locker, Inc. FL posted weaker-than-expected earnings for its first quarter on Friday.
  • Ross Stores, Inc. ROST posted better-than-expected profit for its first quarter.

8 Stocks To Watch For May 19, 2017

Some of the stocks that may grab investor focus today are:

  • Wall Street expects Foot Locker, Inc. FL to report quarterly earnings at $1.38 per share on revenue of $2.02 billion before the opening bell. Foot Locker shares rose 0.48 percent to $70.79 in after-hours trading.
  • Ross Stores, Inc. ROST posted better-than-expected profit for its first quarter. Ross Stores shares surged 4.19 percent to $63.63 in the after-hours trading session.
  • salesforce.com, inc. CRM posted upbeat earnings for its first quarter and raised its FY18 outlook. salesforce.com shares rose 1.37 percent to $88.95 in the after-hours trading session.
  • Analysts are expecting Campbell Soup Company CPB to have earned $0.64 per share on revenue of $1.87 billion in the latest quarter. Campbell Soup will release earnings before the markets open. Campbell Soup shares declined 0.82 percent to $56.94 in after-hours trading.
  • Autodesk, Inc. ADSK reported a narrower-than-expected loss for its first quarter. Autodesk shares jumped 10.08 percent to $105.49 in the after-hours trading session.
  • McKesson Corporation MCK reported upbeat profit for its fourth quarter on Thursday. McKesson shares climbed 8.24 percent to $153.10 in the after-hours trading session.
  • Analysts expect Deere & Company DE to report quarterly earnings at $1.68 per share on revenue of $7.31 billion before the opening bell. Deere shares gained 1.18 percent to $114.00 in after-hours trading.
  • Gap Inc GPS reported stronger-than-expected earnings for its first quarter on Thursday. Gap shares climbed 4.14 percent to $24.15 in the after-hours trading session.

The Market In 5 Minutes 5/19/2017

  • Not yet a year into his presidency, Brazilian President Michel Temer is facing a major bribery scandal that has sent Brazilian stocks tumbling:
  • Twitter Inc (TWTR) shares jumped 2 percent after cofounder Biz Stone announced he is returning to work for the company full-time. Why are investors so optimistic about Stone’s return? Here’s a look at a few ways he could light a fire under Twitter:
  • Amazon.com, Inc. (AMZN) has become known as the everything store. That’s why it’s no surprise recent reports have stated the company is interested to get into the pharmacy space: Link
  • Corium International (CORI) shares have been white hot over the past 10 days, rising more than 30 percent since the company reported positive preliminary results in the clinical study of its Corplex Donepezil Alzheimer’s Disease (AD) product candidate:
  • Robert Mueller’s bulletproof reputation as a relentless, by-the-book investigator virtually guarantees a rigorous and wide-ranging investigation of President Donald Trump’s ties to the Kremlin, the former FBI director’s supporters say: Link

THE WALL STREET JOURNAL

  • President Donald Trump said Thursday that an investigation of his campaign’s possible ties to Russia is a “witch hunt” and should be quickly brought to a close, but the appointment of a special counsel and recent grand jury subpoenas suggest a federal criminal probe is expanding to include other suspicious activity and countries: Link
  • A loophole is helping gig-economy workers, online sellers and home-sharing hosts cheat on their taxes: Link
  • U.S. financial authorities are looking into the Russian government’s growing leverage over Citgo Petroleum Corp. amid heightened concern that the Kremlin is seeking to use energy as a political weapon against the U.S., according to U.S. and congressional officials: Link
  • International Business Machines Corp. (IBM) is giving thousands of its remote workers in the U.S. a choice this week: Abandon your home workspaces and relocate to a regional office—or leave the company: Link

REUTERS

  • U.S. Treasury Secretary Steven Mnuchin told lawmakers on Thursday that he has some doubts that what are known as alternate scoring models will give enough credit to the potential for economic growth when assessing the impact of the Trump administration’s tax planLink
  • Uber has threatened to fire an engineer accused by Alphabet’s self-driving Waymo unit of stealing confidential documents in a high profile trade secrets case between the two companies, according to a court filing: Link
  • Suitors including private equity firms KKR & Co LP (KKR), Bain Capital and U.S. chip maker Broadcom Ltd are lining up for Toshiba Corp’s semiconductor business, sources familiar with matter said ahead of a deadline for second-round offers on Friday: Link

    BLOOMBERG

  • Legendary short seller Jim Chanos lambasted a “dysfunctional” Trump administration, saying the markets hope that Vice President Michael Pence becomes presidentLink
  • Rep. Jason Chaffetz announced Thursday he will resign from Congress next month, saying a “mid-life crisis” had compelled him to step away from his chairmanship of the House Oversight Committee just as it is poised to investigate President Donald Trump’s firing of the FBI director: Link
  • Greece’s latest economic reforms will be key to winning debt relief that unleashes years of pent-up investment and finally ends its economic crisis. Or the austerity will crush the economy and send the government cap-in-hand for another bailout: Link
  • Melco Crown Philippines Resorts Corp. is the best-performing casino stock in the world this year. To punters playing baccarat at the company’s City of Dreams venue in Manila, that’s no surprise: Link

NY POST

  • JCPenney (JCP) is aiming to give “hot sheets” new meaning. The mall anchor is getting into the hotel business, selling bedsheets, towels, curtains and even mattresses to the lodging industry, the retailer said on Tuesday: Link

CONSUMER

Gap (GPS) Reports Q1 EPS $0.36 vs $0.29 Est., Sales $3.4B vs $3.39B Est., Comps Up 2%

Ross Stores (ROST) Reports Q1 EPS $0.82 vs $0.80 Est., Sales $3.3B vs $3.27B Est., Comps Up 3%

Foot Locker (FL) Reports Q1 EPS $1.36 vs $1.38 Est., Sales $2.001B vs $2.02B Est., Comps Up 0.5%
McKesson (MCK) Reports Q4 Adj. EPS $3.42 vs $3 Est., Sales $48.7B vs $49.5B Est.
Sportsman’s Warehouse (SPWH) Reports Q1 Adj. EPS $(0.08) vs $(0.06) Est., Sales $156.9M vs $153.9M Est.

ENERGY

Warrior Met Coal (HCC) Reports Q1 Adj. EPS $2.22, Sales $254M

INDUSTRIALS

Deere (DE) Reports Q2 EPS $2.49 vs $1.56 in Same Qtr. Last Year, Sales $8.287B vs $7.31B Est.

FINANCIALS

HEALTHCARE

Del Mar Pharmaceuticals (DMPI) Reports Q3 EPS $(0.18) vs $(0.15) Est.

TECHNOLOGY

Quality Systems (QSII) Reports Q4 Adj. EPS $0.21 vs $0.19 Est., Sales $132.4M vs $128.5M Est.
Autodesk (ADSK) Reports Q1 Adj. EPS $(0.16) vs $(0.24) Est., Sales $486M vs $470.4M Est.
Salesforce (CRM) Reports Q1 Adj. EPS $0.28 vs $0.26 Est., Sales $2.39B vs $2.35B Est.
Globant (GLOB) Reports Q1 Adj. EPS $0.27 In-line With Est., Sales $88.7M vs $87.72M Est.

ECONOMIC FIGURES

09:15 a.m. FOMC Member Bullard Speaks

10:30 a.m. ECRI Weekly Annualized (WoW)

10:30 a.m. ECRI Weekly Index

1:00 p.m. Baker Hughes Oil Rig Count

Analyst & Shareholder Meetings

  • 9:30 a.m. TravelCenters (TA)
  • 10:00 a.m. Yum Brands (YUM)
  • 10:00 a.m. CBS (CBS)
  • 10:30 a.m. Aetna (AET)
  • 11:00 a.m. Cato Co. (CATO)
  • 11:00 a.m. J.C. Penney (JCP)
  • 11:00 a.m. Macy’s (M)
  • 12:00 p.m. Mattel (MAT)

UPGRADES

  • Jefferies Upgraded Palo Alto Networks (PANW) from Hold to Buy
  • Oppenheimer Upgraded Lumber Liquidators (LL) from Perform to Outperform
  • BMO Upgrades Walmart (WMT) From Underperform to Market Perform

DOWNGRADES

  • RBC Downgraded Symantec(EXPE) from Outperform to Sector Perform
  • Deutsche Bank Downgraded Buckle (BKE) from Hold to Sell
  • Macquarie Downgrades Pandora (P) From Outperform to Neutral

Deal Talk

  • Energy Transfer Partners (ETP) Makes Tender Offer To Purchase PennTex Midstream Partners For $20/Unit Cash
  • Vistra Energy Corp. (VST) has made a takeover approach to debt-laden rivalDynegy Inc. (DYN), according to people familiar with the matter at the Wall Street Journal, a tie-up that would create one of the country’s largest independent power producers.

US OPTIONS RECAP

  • CDNS Cadence Des Jun 34.0 Calls Sweep: 817 @ ASK $0.30: 1554 traded vs 2094 OI: Earnings 7/24 After Close (est) $32.38 Ref

     

  • FRED Fred’s Jul 12.5 Puts Sweep: 3000 @ ASK $1.576: 3020 traded vs 473 OI: Earnings 5/25 Before Open (est) $13.60 Ref

     

  • YRCW YRC Worldwide Jun 8.0 Calls: 9600 @ ASK $0.54: 10k traded vs 64 OI: Earnings 7/27 After Close (est) $8.04 Ref

     

Watch These 5 Huge Call Purchases In Friday Trade

These trades were placed during Thursday’s regular session.

  • YRC Worldwide Inc YRCW Jun 8.0 Calls: 9600 @ ASK $0.54: 10k traded vs 64 OI: Earnings 7/27 After Close (est) $8.04 Ref
  • Rite Aid Corporation RAD Jan 2019 10.0 Calls: 1000 @ ASK $0.03: 1350 traded vs 61k OI: Earnings 6/22 Before Open (est) $3.46 Ref
  • salesforce.com, inc. CRM May 95.0 Calls Sweep: 760 @ ASK $0.22: 3047 traded vs 11k OI: $87.53 Ref
  • Humana Inc HUM Jun 245 Calls: 3000 @ ASK $1.40: 3000 traded vs 7895 OI: Earnings 8/2 Before Open (est) $226.61 Ref
  • Ambev SA (ADR) ABEV May 5.0 Calls Sweep: 500 @ ASK $0.666: 522 traded vs 20 OI: Earnings 7/27 Before Open (est) $5.53 Ref