Style Underperformer:
Small-cap Growth (-3.15%)
Sector Underperformers:
Steel (-5.89%), Homebuilding (-5.88%) and Coal (-5.02%)
Stocks Falling on Unusual Volume:
OLN, CMC, CLF, BCS, VIP, MBT, ABB, PBR, STO, WBD, TSN, CIEN, CAVM, ADTN, ATMI, JOYG, NETL, SHPGY, AFAM, AAUK, DIOD, MRVL, ORCL, POWI, TEX, BBV, VOL and BTH
Stocks With Unusual Put Option Activity:
1) CAG 2) IOC 3) TIVO 4)
- ADP Employment Change for August was -33K versus estimates of -30K and +1K in July.
- Final 2Q Non-farm Productivity rose 4.3% versus estimates of a 3.5% increase and a 2.2% gain in 1Q.
- Final 2Q Unit Labor Costs fell .5% versus estimates of unch. and a 1.3% rise in 1Q.
- Initial Jobless Claims for last were 444K versus estimates of 420K and 429K the prior week.
- Continuing Claims were 3435K versus estimates of 3420K and 3429K prior.
- ISM Non-Manufacturing for August rose to 50.6 versus estimates of 49.5 and a reading of 49.5 in July.
BOTTOM LINE:
First-time claims for unemployment insurance rose more than forecast, Bloomberg reported. However, the four-week moving average of initial claims fell to 438,000 from 441,250 the prior week. The unemployment rate among those eligible for benefits, which tracks the
Style Outperformer:
Mid-cap Value (-1.51%)
Sector Outperformers:
Airlines (+.77%), Computer Services (-1.28%) and Retail (-1.43%)
Stocks Rising on Unusual Volume:
UN, UL, STRA, KOK, WMT, CLMT, CLNE, BIOD, CRMT, CGRB, CACH, ZUMZ, CEPH, SPWR, MDVN, PPDI, BSI, UST, WF, GES, PSS, MR, BZC, MTR, OGE and EAS
Stocks With Unusual Call Option Activity:
1) MAS 2) MW 3) NUAN 4) PSS 5)
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (ERTS), target $64.
Night Trading
Asian Indices are -1.25% to unch. on average.
S&P 500 futures -.07%.
NASDAQ 100 futures -.04%.
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Company/EPS Estimate
- (JTX)/-.69
- (CIEN)/.37
- (TOL)/-.35
- (ADCT)/.27
- (COO)/.65
- (MATK)/.25
- (ZQK)/.20
- (MOV)/.41
Economic Releases
8:15 am EST
- The ADP Employment Change for August is estimated at -30K versus +9K in July.
8:30 am EST
- Final 2Q Non-farm Productivity is estimated to rise 3.5% versus a 2.2% increase in 1Q.
- Final 2Q Unit Labor Costs are estimated unch. versus a 1.3% gain in 1Q.
- Initial Jobless Claims for last week are estimated to fall to 420K versus 425K the prior week.
- Continuing Claims are estimated to fall to 3420K versus 3423K prior.
10:00 am EST:
- ISM Non-Manufacturing for August is estimated at 49.5 versus 49.5 in July.
10:35 am EST:
- Bloomberg consensus estimates call for a weekly crude oil inventory build of 450,000 barrels versus a -3,502,000 barrel drawdown the prior week. Gasoline supplies are expected to fall by -1,300,000 barrels versus a -1,179,000 barrel decline the prior week. Distillate inventories are estimated to rise by 1,000,000 barrels versus a 57,000 barrel increase the prior week. Refinery Utilization is expected to rise .2% versus a 1.58% increase the prior week. Finally, Natural Gas supplies are estimated to rise by 90bcf versus a 102 bcf injection the prior week.
Upcoming Splits
- (ISYS) 2-for-1
- (ATVID) 2-for-1
Other Potential Market Movers
- The Fed’s Fisher speaking, Fed’s Yellen speaking, ICSC August Chain Store Sales, (TEX) analyst meeting, Goldman Retail Conference, Keefe Bruyette Woods Insurance Conference, Thomas Weisel Healthcare Conference, Morgan Keegan Equity Conference, Cowen Clean Energy Conference, Kaufman Brothers Investor Conference, Citigroup Tech Conference, Lehman Consumer Conference, Needham HDD Investor Day and CSFB Automotive Conference could also impact trading today.