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Блог компании DayTraderClub | Америка сегодня. Заказы на товары длительного пользования.

В годовом базисе аналитики продолжают ожидать рост числа заказов на товары длительного пользования:
Америка сегодня. Заказы на товары длительного пользования.


При этом основной рост ожидается в мирных секторах, исключая оборонные и авиационный:
Америка сегодня. Заказы на товары длительного пользования.


Число заказов на товары длительного пользования в этом месяце ожидается на отметке 2% и выше:
Америка сегодня. Заказы на товары длительного пользования.


Композитный индекс деловой активности демонстрирует замедление. Аналитики надеются на его восстановление и сюрпризом будут любые значения ниже 54:
Америка сегодня. Заказы на товары длительного пользования.


Все новости: 
Америка сегодня. Заказы на товары длительного пользования.
Данные: DTC News, Briefing, Interactive, Economics, Public Sources
109 комментариев
  Asian MarketsNikkei...19262.5...+177.20...+0.90%.  Hang Seng...24358...+30.60...+0.10%.
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  European MarketsFTSE...7338.48...-2.20...0.00%.  DAX...12034.76...-4.90...0.00%.
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  Knight Transportation downgraded to Underweight from Equal Weight at Barclays  (31.85)
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  Swift Transportation downgraded to Equal Weight from Overweight at Barclays  (20.14)
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 Unilever NV upgraded to Overweight from Equal Weight at Barclays  (50.07)
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 Cogent Communications initiated with a Buy at Deutsche Bank; $48 tgt  (41.85)
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  Black Stone Minerals upgraded to Buy from Hold at Stifel  (16.51)
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  Roper downgraded to Neutral from Overweight at JP Morgan  (207.46)
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 Under Armour upgraded to Buy from Hold at Jefferies  (18.98)
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  Skechers USA, Virtusa (VRTU) both upgraded to Outperform from Market Perform ratings at Cowen  (27.44)
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  Adobe Systems upgraded to Outperform from Neutral at Credit Suisse  (126.87)
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 Ares Management upgraded to Outperform from Mkt Perform at Keefe Bruyette  (18.35)
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  Alcoa upgraded to Buy from Hold at Berenberg  (33.31)
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  Frank's International upgraded to Hold from Underperform at Jefferies  (9.84)
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  Daseke initiated with a Outperform at Cowen; tgt $12  (10.17)Cowen initiates DSKE with a Outperform and price target of $12 noting DSKE is the best way to benefit from further infrastructure spending in firm's group. As the 2nd largest specialized/flat-bed hauler in the US, NT growth is likely to be driven by acquisitions as DSKE does something nobody else is doing, rolling up a highly fragmented part of the US trucking industry.
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 Autoliv upgraded to Sector Perform at RBC Capital Mkts; tgt raised to $99  (100.67)RBC Capital Mkts upgrades ALV to Sector Perform from Underperform and raises their tgt to $99 from $94. Post hosting meetings with CFO Mats Backman, firm has a better appreciation for ALV's passive safety ramp and the potential for stronger passive safety margins in 2018+. As such their 2018 EBITDA forecast is 5% higher than prior and PT goes to $99. Risks/unknowns around ALV's ADAS/autonomous efforts and valuation keeps them on the sidelines.
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  Sportsmans Warehouse downgraded to Neutral from Overweight at Piper Jaffray  (5.03)
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 Minerals Tech upgraded to Overweight from Neutral at JP Morgan  (73.35)
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  Fortive upgraded to Overweight from Neutral at JP Morgan  (58.53)
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 Zosano Pharma initiated with a Overweight at Piper Jaffray; tgt $4  (1.77)
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  Superior Ind upgraded to Buy from Neutral at B. Riley & Co.  (25.60)
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  Entergy downgraded to Neutral from Buy at Goldman  (76.63)
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 FirstEnergy upgraded to Buy from Neutral at Goldman  (31.20)
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 Tandem Diabetes Care downgraded to Neutral from Buy at B. Riley & Co.  (1.25)
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 Macy's downgraded to Neutral from Buy at Citigroup  (28.27)
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 PVH upgraded to Buy from Neutral at Citigroup  (98.55)
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 Xenon Pharmaceuticals announces XEN801 did not meet efficacy endpoints in phase 2 clinical trial in patients with moderate to severe acne   (9.85)

XEN801 is a topical stearoyl Co-A desaturase-1, or SCD1 inhibitor, developed for the potential treatment of moderate to severe acne.

  • Results from this trial showed that XEN801 did not demonstrate a statistically significant difference from vehicle placebo in its primary endpoint of the percent change in total (inflammatory and non-inflammatory) lesion count from baseline to week 12. The results also show that XEN801 did not demonstrate statistical significance relative to key secondary efficacy endpoints. XEN801 did demonstrate a favorable safety and tolerability profile, with no drug-related serious adverse events.
  • «We look forward to a number of important milestone events anticipated over the coming months, including a topline data read-out from the Phase 2b clinical trial of TV-45070 in post-herpetic neuralgia being conducted by our collaborator, Teva (TEVA); the submission of an IND, or IND equivalent, for XEN901, our proprietary novel Nav1.6 inhibitor for the potential treatment of epilepsy, presently expected in the fourth quarter of this year; and advancement by our collaborator, Genentech (RHHBY), of its Nav1.7 pain program into Phase 2 expected this year. In addition, our goal is to continue to expand our current proprietary pipeline of novel, ion channel modulators through both our internal research efforts and our ongoing assessment of promising external product opportunities.»
  • Xenon will host a conference call and live audio webcast today at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss the XEN801 Phase 2 clinical trial results.
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 Alon USA Energy, Tesoro (TSO), Delek US Holdings (DK), Western Refining (WNR) all downgraded to Neutral from Outperform at Credit Suisse  (12.64)
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 Calumet Specialty Products downgraded to Underperform from Neutral at Credit Suisse  (3.80)
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  Syndax Pharmaceuticals, Five Prime Therapeutics (FPRX) both initiated with Outperform ratings at Cowen  (12.96)
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  Overnight Summary — World markets mixed after digesting macro data
  • The global equity markets are mixed, but had an uptick of activity in Asia compared to the prior night, with the Nikkei gaining nearly 1% and the Shanghai finishing up 0.6%. On the flip side, European indices have not had the experience, with the major averages trading in minor negative territory.
  • In Asia, the Nikkei shook off a weaker opening, with buyers stepping and closing the week out on a high note. The most notable data released out of the region was the Preliminary March Manufacturing PMI, which came in at 52.6 (down from 53.3 last month). The take-away from the release seemed to be that of the «Goldilocks» sentiment, after the print represented solid expansion, but still weaker than the February result. As such, it likely did little to persuade the BOJ to deviate from current policy.
  • Chinese markets were a conundrum on Friday, with the Shanghai rising in the face of a couple of notable events that have typically been a negative to Mainland markets. First, the PBOC refrained from injecting any new capital into the markets. Secondly, there were local reports the Central Govt is looking to tighten lending standards for the property markets. A rebound in the energy sector, led by CNOOC (+4%), helped to pave the way to the Shanghai's 0.7% gain for the week.
  • European bourses have traded with a lackluster tone that may be most attributed to better than expected macro data out of the region. One of the most notable releases was the March Preliminary Manufacturing PMI of 58.3 (vs 56.5 exp). This accelerated the Euro's advance today, which put pressure on equity complex in turn. The take-away from the EU data may be quite different than that of Japan, considering this data set could be fairly impactful to the ECB's outlook on policy.

Market Updates

  • S&P Futures vs Fair Value: +1.00 
  • 10 yr Note: 2.4231% 
  • USD/JPY: 111.01 +0.10 
  • EUR/USD: 1.0804 +0.0020
  • Europe: FTSE -0.2% DAX -0.2% CAC -0.4% 
  • Asia: Hang Seng +2.6% Shanghai +3.2% Nikkei +0.4% 
  • Commodities: Gold (1244.20 -3.00) Silver (17.61 +0.01) crude (47.97 +0.27) 

US Econ Data

  • Fed's Evans speaks (8am)
  • Fed's Bullard speaks (8:05am)
  • Fed's Williams speaks (8:30am)
  • February Durable Orders (8:30am)
  • U.S. Manufacturing & Services PMI- Prelim (9:45am)
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 Agilent among stocks with favorable commentary on Thursday's Mad Money  (53.18)

Stocks with favorable mention: A, AAPL, C, CIM, CSCO, CY, FDX, FIVE, JPM, MMM, PM, RRD, STZ

Stocks with unfavorable mention: F, IONS, OPK

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 On The Wires
  • On March 20, 2017, Enstar Group (ESGR) exercised the accordion feature available under its amended and restated $665 million Revolving Credit Facility. This increased the total commitments under the Facility by $166.25 million, bringing the total amount available under the Facility to an aggregate principal amount of $831.25 million. The additional commitments were obtained from two new lenders. All other terms of the Facility remain unchanged. Following this increase, as of March 20, 2017, the Company had $585.82 million of available unutilized capacity under the Facility.
  • Benitec Biopharma Limited (BNTC) advises that it has received a AUD$5,590,235 cash refund under the Federal Government's R&D Tax Incentive Scheme. The refund relates to the costs of research and development which qualify as eligible R&D expenditure under the Federal Government's Scheme. The funds will be used to advance Benitec's human therapeutic programs in gene silencing.
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  China Life Insurance upgraded to Neutral from Sell at Citigroup  (15.65)
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  Planet Fitness coverage assumed/downgraded to Neutral at Wedbush  (19.63)
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  Asian Markets Close: Nikkei +0.9%, Hang Seng +0.1%, Shanghai +0.6%

Equity indices in the Asia-Pacific region ended the week on a higher note. Investors showed some tolerance for risk amid continued hopes that the U.S. health care vote would be called before the weekend after all. Elsewhere, Bank of Japan Governor Haruhiko Kuroda shied away from discussing the central bank's long-run yield target, saying that inflation recovery remains tentative.

  • In economic data:
    • Japan's March Manufacturing PMI 52.6 (expected 53.5; last 53.3) and March Reuters Tankan Index 25 (last 20). Leading Index 104.9 (expected 105.5; last 105.5)
    • New Zealand's February trade deficit NZD3.79 billion year-over-year (expected deficit of NZD3.66 billion; last deficit of NZD3.41 billion). February Imports NZD4.02 billion (expected NZD3.99 billion; last NZD4.16 billion) and February Exports NZD4.01 billion (expected NZD4.20 billion; last NZD3.91 billion)
    • South Korea's March Consumer Confidence 97 (last 94)
    • Singapore's February Industrial Production -3.7% month-over-month (expected 0.4%; last -4.8%); +12.6% year-over-year (consensus 10.8%; last 3.8%)

---Equity Markets---

  • Japan's Nikkei climbed 0.9%, narrowing its weekly loss to 1.3%. Toshiba jumped 7.4% amid reports the Japanese government is planning a full review of the company's chip unit sale. SUMCO, Advantest, Sumitomo, Fanuc, Dentsu, and Sapporo Holdings climbed between 1.5% and 3.7%.
  • Hong Kong's Hang Seng added 0.1%, eking out a weekly gain of 0.2%. CNOOC jumped 3.9% to lead the way while financials like BoC Hong Kong, ICBC, Bank of East Asia, and Ping An Insurance climbed between 0.3% and 1.6%. On the downside, property names like New World Development, Henderson Land, Sino Land, SHK Properties, and China Overseas lost between 0.6% and 1.3%.
  • China's Shanghai Composite rose 0.6%, extending its weekly gain to 1.0%. Sichuan Languang Development, Wanhua Chemical Group, Tianjin Port Holdings, Tibet Tianlu, and Jinxi Axle advanced between 4.6% and 5.5%.
  • India's Sensex gained 0.3%, ending the week higher by 1.6%. Financials ICICI Bank and SBI led the way with gains close to 2.8% apiece while AXIS Bank added 0.2%. IT consultants were mixed with Wipro adding 0.6% while Infosys and Tata Consultancy lost 0.9% and 1.3%, respectively.

---FX---

  • USDJPY +0.1% to 111.06
  • USDCNY UNCH at 6.8861
  • USDINR UNCH at 65.411
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  HFF Inc., Marcus & Millichap (MMI) both downgraded to Market Perform from Outperform at William Blair  (29.16)
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  Jones Lang LaSalle upgraded to Outperform from Market Perform at William Blair  (107.93)
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  GameStop downgraded to Neutral from Buy at BofA/Merrill  (23.96)
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  Guaranty Bancorp initiated with a Outperform at Hovde Group; tgt $26.50 — Expect double-digit loan growth, positive operating leverage, and modest credit costs  (23.30)Hovde Group initiates GBNK with a Outperform and price target of $26.50. GBNK has generated double-digit loan growth since 2013, and firm anticipates this trend will continue in 2017 and 2018. Also, the company has generated positive operating leverage with the core efficiency ratio declining from 67% in 2013 to 58% in 2016, and they anticipate further improvement to 56% in 2017. They also expect credit costs will remain low as NPAs were just 17 bps of assets in 4Q16. Additionally, firm anticipates modest NIM expansion in 2017 to 3.71% from 3.69% in 2016. These positives are driving superior profitability, and firm's core ROA and ROE 2017 forecasts are 1.14% and 10.9%, respectively; above the West peer medians of 0.99% and 9.4%.
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  Verastem target raised to $6.50 at H.C. Wainwright  (1.51)H.C. Wainwright raises their VSTM tgt to $6.50 from $5. They noted that based on results from earlier stage studies in CLL as well as the previously completed Dynamo study in indolent non-Hodgkin's lymphoma, Duo is highly likely to meet its primary PFS endpoint. Furthermore, H.C. Wainwright further discusses that while many investors have doubts regarding duvelisib's commercial outlook in the competitive CLL indication, they believe that, even with less-than-stellar results from Duo, the drug has the potential to capture a material portion of the highly lucrative market for 2nd/3rd-line CLL treatments. Therefore, H.C. Wainwright expects positive results from the Duo study to be a significant catalyst for the co; reiterates Buy.
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  Apple downgraded to Buy from Strong Buy at Needham  (140.92)
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  Tesaro initiated with a Buy at Argus; $210 tgt  (153.62)
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  Apple downgraded to Buy from Strong Buy at Needham; tgt raised to $165 — remains Top Pick  (140.92)Needham downgrades AAPL to Buy from Strong Buy and raises their tgt to $165 from $150. When they put a $150 target price on AAPL last March, some said they were crazy. AAPL remains their top stock pick owing to RAPID: a) Recurring revenue streams imply higher earnings growth and valuations; b) Arms dealer in a rising tide; c) Pure play on strong mobile growth; d) Inexpensive, especially because it has higher profit margins than DIS and CBS and higher asset efficiency than FB and EXPE, but much lower valuations; and e) Downside protection from its «sequel» strategy, excess cash, dividends and share repurchases. AAPL's GAAP FY18E P/E is 13.9x, which ignores AAPL's excess cash. Adjusting for AAPL's excess cash, its P/E is 11.6-12.8x (depending on tax rate).
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  Early premarket gappers

Gapping up:

  • HTGM +50.1%, RGLS +20%, NVCN +13.7%, LTBR +12.2%, MU +12.1%, SPHS +11.6%, SNAK +10.4%, ZSAN +8.5%, JAG +5.4%, EBIO +5.3%, VSTM +4%
  • SPP +3.9%, QTNT +3.8%, IMMU +3.8%, WDC +3.7%, RXDX +3.4%, GLOG +3.1%, CYTX +3%, MTL +2.7%, NVO +2.4%, AMD +2.1%, GLOP +1.9%
  • CHK +1.8%, AKS +1.6%, TWTR +1.3%, STX +1.2%, NGG +1%, INTC +1%, XOM +0.8%, SCVL +0.8%, REX +0.7%

Gapping down:

  • FINL -12.8%, GME -11.3%, OXM -8.7%, ADPT -8.2%, CBAY -8.1%, CDOR -6.7%, SPWH -6.6%, OPGN -6.3%, MTW -4.8%, MYL -3.5%
  • CHMI -3.4%, SBGL -2.8%, BLCM -2.1%, FL -1.1%, KLDX -1.1%, M -1%, DNKN -0.5%
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 European Markets Update: FTSE -0.1%, DAX -0.1%, CAC -0.4%

Major European indices trade in negative territory, which puts them on track for a lower finish to the week. The European Central Bank increased Greek banks' emergency liquidity assistance allowance by EUR400 million, representing the first increase since the middle of 2015. This comes as Greek officials and European representatives continue working on an agreement that would unlock the next tranche of bailout funds.

  • In economic data:
    • Eurozone March Manufacturing PMI 56.2 (expected 55.3; last 55.4) and Services PMI 56.5 (consensus 55.3; previous 55.5)
    • Germany's March Manufacturing PMI 58.3 (consensus 56.5; last 56.8) and Services PMI 55.6 (consensus 54.6; last 54.4)
    • France's March Manufacturing PMI 53.4 (consensus 52.4; last 52.2) and Services PMI 58.5 (expected 56.1; last 56.4). GDP +0.4% quarter-over-quarter, as expected (last 0.4%)
    • UK's BBA Mortgage Approvals 42,600 (expected 44,900; last 44,100)
    • Italy's February non-EU trade surplus EUR1.72 billion (previous deficit of EUR890 million)

---Equity Markets---

  • UK's FTSE is lower by 0.1% with consumer names on the defensive. Next is down 2.4% while Marks & Spencer, Kingfisher, Taylor Wimpey, Persimmon, Barratt Developments, and Travis Perkins show losses between 0.5% and 1.6%. On the upside, miners Fresnillo and Rio Tinto hold respective gains of 1.2% and 0.8%.
  • Germany's DAX has shed 0.1%. Allianz is down 1.3% in reaction to a downgrade while Volkswagen, Daimler, BMW, and Deutsche Bank display losses between 0.4% and 0.9%. Countercyclical names outperform with drugmakers Merck and Bayer up 3.2% and 0.6%, respectively, while RWE and E.ON show respective gains of 2.6% and 1.3%.
  • France's CAC is down 0.4% as financials weigh. Societe Generale, Credit Agricole, BNP Paribas, and AXA have given up between 0.5% and 1.2%. Conversely, Legrand, ArcelorMittal, and Vinci are up between 0.1% and 0.6%.
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  Intl Game Tech. PLC downgraded to Hold from Buy at Argus  (23.42)
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  KB Home very encouraged with start of spring selling season; raises FY17 guidance  (19.32)
  • Very encouraged with start of spring selling season. Net order value +32%, +73% in the West
  • SG&A ratio improved 160 bps YoY to 11.5%
  • Sees Q2 homebuilding rev $880-940 mln vs. $930 mln consensus
  • Sees GM expanding throughout the year; sees Q2 gross margin +50 bps Q/Q to 15.6%, with Q3 gross margin +70 bps and Q4 +100 bps Q/Q.
  • Raises FY17 homebuilding rev to $4.0-4.3 bln from $3.8-4.2 bln; raises ASP to $385-395K from $370-385K; raises gross margin to 16.1-16.5% from 16.0-16.5% 

KBH indicated slightly lower premarket; stock +22% YTD.

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  Overnight Treasury Summary

Treasuries Set for Flattish Open

  • U.S. Treasuries are a trading a touch lower this morning following the overnight release of better-than-expected purchasing managers' index data for the eurozone. The U.S. House of Representatives is set to vote on the American Health Care Act (AHCA) today and its passage would be an important step towards making corporate tax reform achievable with only 50 Senate votes. The AHCA is not expected to win passage in the House. The U.S. Dollar Index is down 0.08% to 99.68 and the S&P 500 is set to open up half a point to 2,346.4. WTI crude is higher by 0.69% at $48.03/bbl. and gold is losing 0.14% to $1,245.5/troy oz.
  • Yield Check:
    • 2-yr: unch at 1.26%
    • 5-yr: -1 bp to 1.95%
    • 10-yr: unch at 2.42%
    • 30-yr: unch at 3.03%
  • International News:
    • In Japan, the Reuters Tankan Index jumped to 25 for March from 20 in February
    • Japan's manufacturing purchasing managers' index unexpectedly fell to 52.6 in March from 53.3 in February
    • Japan's Leading Index fell to 104.9 for January from 105.5 for December
    • Russia's central bank unexpectedly cut its benchmark policy rate to 9.75% from 10%, citing cooling inflation and improving economic growth
    • The eurozone's manufacturing PMI unexpectedly rose to 56.2 in March from 55.4 in February
      • France: 53.4 (52.2 prior)
      • Germany: 58.3 (56.8 prior)
    • The eurozone's services PMI also beat expectations, climbing to 56.5 in March from 55.5 in February
      • France: 58.5 (56.4 prior)
      • Germany: 55.6 (54.4 prior)
    • Italy's trade balance swung to a surplus of EUR1.72 bln for February from a deficit of EUR0.89 bln in January
    • In the U.K., BBA Mortgage Approvals fell to 42.6K in February from 44.1K in January
  • Data out Friday:
    • February Durable Goods and Durable Goods ex-trans (08:30 ET)]
  • Fed Speakers:
    • Chicago Fed President Evans (FOMC voter) (08:00 ET)
    • St. Louis Fed President Bullard (non-FOMC voter) (08:05 ET)
    • San Francisco Fed President Williams (non-FOMC voter) (08:30 ET)
    • New York Fed President Dudley (FOMC voter) (10:00 ET)
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  Black Stone Minerals upgrade details — to Buy at Stifel; tgt $19  (16.51)Stifel upgrades BSM to Buy from Hold and sets target price at $19 following the recent pullback in units. While commodity prices have recently come under pressure, firm reminds investors the partnership has hedged ~74% of its FY17 production. Coupled with the current subordinated structure, firm continues to forecast the partnership will raise its DPU as planned in 2Q17 and, in turn, view the relatively known DPU outlook attractive in the recent volatile commodity envm't.
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  Caesarstone upgraded to Buy at Stifel; tgt raised to $47  (33.55)Stifel upgrades CSTE to Buy from Hold and raises their tgt to $47 from $33 as they believe the opportunity for quartz to continue to take share from traditional countertop surfaces provides a growth backdrop and that CSTE has begun a subtle but important recovery in its U.S. presence as was evidenced by improving sales trends as the company moved through Q4 of 2016. Central to firm's thesis is co's ability to extract much better production rates and efficiencies from its newly built capacity in the U.S. despite a challenging ramp of that facility in 2016.
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  RiceBran Tech. downgraded to Hold at Maxim Group After weaker-than-expected 4Q16 results  (0.81)Maxim Group downgrades RIBT to Hold from Buy. Firm would not initiate new positions of RIBT as they await more clarity following mgmt's initiatives to reposition its marketing efforts and reduce costs. Firm believes RIBT improved its financial position through a private placement and debt restructuring, which may provide flexibility needed to reaccelerate the business. However, 4Q16 results were lower than expected, and despite a sequential rebound, the Brazil segment continued to show weakness, and gross margin in the U.S. was significantly narrower y/y. They feel there is uncertainty regarding RIBT's Brazil operations, as firm does not expect mgmt to invest additional capital in that business segment. Moreover, they believe RIBT is at risk of being delisted from the Nasdaq, which could hurt future access to capital.
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  On The Wires
  • AeroCentury (ACY) discloses in a regulatory filing that it entered into an Exchange Agreement with Lee G. Beaumont, a shareholder of the Company, whereunder the Company transferred title to an off-lease CF34-8E5 Engine owned by the Company to Beaumont, in exchange for 150,000 shares of Common Stock of the Company, which represent all of the shares held by Beaumont and his affiliates, and approximately 9.6% of the outstanding shares of the Company.
  • Align Technology (ALGN) announced and agreement with the Zfx GmbH to expand the restorative and laboratory marketplace for iTero Element® intraoral scanners through their dental network in major European, Asian and African countries. By collaborating with Zfx, an industry leader in digital prosthetic solutions, Align Technology will enable practitioners and dental laboratories to have access to high-quality iTero intraoral scans that drive the restorative digital workflow and precision restorations. Through this non-exclusive agreement, Zfx will serve as a sales agent for iTero Element intraoral scanners among its network of laboratories, milling centers, and dental professionals.
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 S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +5.90.

President Trump gave House Republicans an ultimatum last night; pass the American Health Care Act on Friday or be left with Obamacare. It appears that the new administration is ready to move on to the next item on its legislative agenda--tax reform--regardless of the outcome of today's vote. That mentality has provided the cash market with some support this morning as the S&P 500 futures trade one point above fair value.

U.S. Treasuries trade flat in early action as investors prepare for comments from a series of Fed Presidents this morning, including Chicago's Evans (FOMC voter), St. Louis' Bullard (non-FOMC voter), San Francisco's Williams (non-FOMC voter), and New York's Dudley (FOMC voter). The benchmark 10-yr yield is currently unchanged at 2.43%.

The price of WTI crude ($48.02/bbl) has increased by 0.6% this morning, but the uptick still leaves the commodity lower by 1.6% for the week. 

On the data front, today's lone economic report--February Durable Orders (Briefing.com consensus +1.3%)--will cross the wires at 8:30 ET.

In U.S. corporate news:

  • Micron Technology (MU 29.55, +3.08): +11.6% after beating earnings estimates and issuing upbeat guidance.
  • GameStop (GME 21.25, -2.71): -11.3% after below-consensus guidance overshadowed better than expected earnings. 
  • The Finish Line (FINL 13.62, -2.44): -15.2% after worse than expected earnings and downbeat guidance outweighed above-consensus revenues.

Reviewing overnight developments:

  • Equity indices in the Asia-Pacific region ended the week on a higher note. Japan's Nikkei +0.9%, Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +0.6%, India's Sensex +0.3%.
    • In economic data:
      • Japan's March Manufacturing PMI 52.6 (expected 53.5; last 53.3) and March Reuters Tankan Index 25 (last 20). Leading Index 104.9 (expected 105.5; last 105.5)
      • New Zealand's February trade deficit NZD3.79 billion year-over-year (expected deficit of NZD3.66 billion; last deficit of NZD3.41 billion). February Imports NZD4.02 billion (expected NZD3.99 billion; last NZD4.16 billion) and February Exports NZD4.01 billion (expected NZD4.20 billion; last NZD3.91 billion)
      • South Korea's March Consumer Confidence 97 (last 94)
      • Singapore's February Industrial Production -3.7% month-over-month (expected 0.4%; last -4.8%); +12.6% year-over-year (consensus 10.8%; last 3.8%)
    • In news:
      • Bank of Japan Governor Haruhiko Kuroda shied away from discussing the central bank's long-run yield target, saying that inflation recovery remains tentative.
  • Major European indices trade in negative territory, which puts them on track for a lower finish to the week. UK's FTSE -0.1%, Germany's DAX -0.1%, France's CAC -0.4%.
    • In economic data:
      • Eurozone March Manufacturing PMI 56.2 (expected 55.3; last 55.4) and Services PMI 56.5 (consensus 55.3; previous 55.5)
      • Germany's March Manufacturing PMI 58.3 (consensus 56.5; last 56.8) and Services PMI 55.6 (consensus 54.6; last 54.4)
      • France's March Manufacturing PMI 53.4 (consensus 52.4; last 52.2) and Services PMI 58.5 (expected 56.1; last 56.4). GDP +0.4% quarter-over-quarter, as expected (last 0.4%)
      • UK's BBA Mortgage Approvals 42,600 (expected 44,900; last 44,100)
      • Italy's February non-EU trade surplus EUR1.72 billion (previous deficit of EUR890 million)
    • In news:
      • The European Central Bank increased Greek banks' emergency liquidity assistance allowance by EUR400 million, representing the first increase since the middle of 2015. This comes as Greek officials and European representatives continue working on an agreement that would unlock the next tranche of bailout funds.
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Durable Goods Orders Preview

There has been a good bit of hand-wringing over the lowly GDP growth projections for the first quarter. On Friday those projections could move up, or down, following the release of the Durable Goods Orders Report.

According to the Briefing.com consensus estimate, durable goods orders are expected to increase 1.3% in February.  Excluding transportation, durable goods orders are expected to be up 0.7%.

This is an important data point because:

  • It sheds light on business activity for U.S. manufacturers
  • It enables economists and investors to develop a sense of business spending levels
    • The relevant line item in the report is new orders for nondefense capital goods, excluding aircraft
  • Durable orders can be volatile due to aircraft orders. Accordingly, the underlying impression of manufacturing activity flows out of the level of new durable goods orders, excluding transportation.
  • This report will factor into first quarter GDP computations
    • The relevant line item in the report pertaining to the GDP outlook is shipments of nondefense capital goods, excluding aircraft
  • A positive surprise would help boost economic sentiment, whereas a negative surprise would pique concerns about the pace of business activity in the first quarter and the stock market being ahead of itself
  • Durable goods orders data will be a focal point for the Federal Reserve in its determination of whether business spending is picking up

The report will be released at 8:30 a.m. ET.

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 8point3 Energy Partners LP increases quarterly distribution to $0.2565/share from $0.2490/share.   (12.59)
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 KB Home target raised to $21 at RBC Capital Mkts — Show me story  (19.32)RBC Capital Mkts raises their KBH tgt to $21 from $17. They are favorably inclined toward KBH after the co reported strong quarterly results and raised its FY17E guidance. Management's decision to raise guidance was attributable to a robust backlog (highest 1Q since 2007) and encouraging demand trends that provide greater visibility into FY17E. As a result, they raise their FY17E EPS estimate from $1.46 to $1.51. They reiterate their Sector Perform rating but note their incrementally positive bias toward the stock in light of strong results and a favorable outlook.
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 PTC target raised to $62 at RBC Capital Mkts — Strong execution two years into the transformation  (52.09)RBC Capital Mkts raises their PTC tgt to $62 from $55. After spending several days on the road with PTC management, they came away feeling better about its ability to execute the turnaround that should transform PTC into a highly ratable, highly profitable business with a well-positioned IoT growth engine. They generally disagree with the SprucePoint short report. Maintain Outperform rating and increase our target to $62.
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 European Research Calls

Upgrades

  • KingFisher plc (KGFHY) upgraded to Hold from Reduce at Numis
  • Johnson Matthey plc (JMPLY) upgraded to Buy from Add at Numis
  • Royal Bank of Scotland (RBS) upgraded to Neutral from Underperform at Exane BNP Paribas
  • Barclays PLC (BCS) upgraded to Outperform from Neutral at Exane BNP Paribas
  • Norsk Hydro (NHYDY) upgraded to Hold from Sell at Berenberg
  • RWE AG (RWEOY) upgraded to Buy from Hold at Kepler
  • E.ON AG (EONGY) upgraded to Hold from Reduce at Kepler
  • Hugo Boss AG (BOSSY) upgraded to Hold from Sell at Bankhaus Lampe
  • Spirent Comms (SPMYY) upgraded to Buy from Hold at Liberum
  • Cenovus Energy (CVE) upgraded to Buy from Hold at TD Securities

Downgrades

  • SSE (SSEZY) downgraded to Hold from Buy at HSBC
  • Admiral Group (AMIGY) downgraded to Neutral from Buy at UBS

Miscellaneous

  • Statoil ASA (STO) initiated with an Underperform at Macquarie
  • National Grid (NGG) resumed with an Overweight at Morgan Stanley
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  Allscripts Healthcare upgraded to Buy form Hold at Deutsche Bank  (11.61)
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 Radius Health target lowered to $66 at H.C. Wainwright  (37.29)H.C. Wainwright lowers their RDUS tgt to $66 from $71, reiterates Buy.  Firm notes Radius continues to make progress with its four product candidates. However, the 3 month extension to the albaloparatide PDUFA date, now June 30th, and the lack of clarity of the potential European partner and launch have led them to adjust their model and PT.
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  Golden Ocean: Folketrygdfondet increases passive stake to 5.49% (To approximately 6.29 mln shares vs. approximately 3.35 mln held at the end of Q4)  (7.50)
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  PTC Therapeutics -6% after withdrawing its application with the EMA to extend the indication of Translarna to treat cystic fibrosis — See 08:08 for more details  (8.45)
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  European Summary

French OATs Lead Eurozone Higher 

  • Eurozone sovereign bonds are trading higher this morning despite the release of very strong purchasing managers' index for both the manufacturing and service sectors, which would normally be expected to push fixed-income asset prices lower. Both gauges were at their highest levels in 71 months in March. Stronger «soft» economic data like PMIs have not necessarily fed into stronger «hard» data like industrial production over the past few months but economists remain confident that it will eventually do so. The European Central Bank's Governing Council does not meet again until April 27 but the ECB's asset purchase program will taper to EUR60 bln/month on April 1 from its current level of EUR80 bln/month 
  • European Economic Data:
    • The eurozone's manufacturing PMI unexpectedly rose to 56.2 in March from 55.4 in February
      • France: 53.4 (52.2 prior)
      • Germany: 58.3 (56.8 prior)
    • The eurozone's services PMI also beat expectations, climbing to 56.5 in March from 55.5 in February
      • France: 58.5 (56.4 prior)
      • Germany: 55.6 (54.4 prior)
    • French GDP growth was confirmed at 0.4% q/q for the fourth quarter of 2016
    • Italy's trade balance swung to a surplus of EUR1.72 bln for February from a deficit of EUR0.89 bln in January
    • Spain's producer price index was up 7.3% y/y in February after growing by 7.6% in January
    • In the U.K., BBA Mortgage Approvals fell to 42.6K in February from 44.1K in January
  • Yield Check:
    • France, 10-yr OAT: -4 bps to 1.00%
    • Germany, 10-yr bund: -2 bps to 0.41%
    • Greece, 10-yr note: -2 bps to 7.28%
    • Italy, 10-yr BTP: -2 bps to 2.25%
    • Portugal, 10-yr PGB: unch at 3.86%
    • Spain, 10-yr ODE: -3 bps to 1.68%
    • U.K., 10-yr gilt: -2 bps to 1.20%
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  Seaspan: Tiger Container Shipping lowers active stake to 5.03% (Prior 6.42%)  (6.13)
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  Gapping up

Gapping up
In reaction to strong earnings/guidance
:

  • HTGM +70.7%, (also announces that its HTG EdgeSeq technology has been successfully adapted for use with the QIAGEN GeneReader NGS System based on the results of initial technical feasibility tests)
  • ZAIS +39.4%, EBIO +21.1%, NVCN +14.9%, MU +13.2%, LTBR +12.2%, VSTM +6%, JAG +5.4%, SPP +3.9%, CYTX +1.2%, SCVL +0.8%, REX +0.7%

Select MU peers/related names showing strength:

  • WDC +3.8%, AMD +1.4%, STX +1.2%, INTC +0.7%, . 

Other news:

  • RGLS +23.6% ( Chairman disclosed purchase of 500K shares, worth more than $600K)
  • SNAK +10.4% (light volume; sells Fresh Frozen Foods to The Pictsweet in a cash transaction for approximately $23.7 mln; previously-announced strategic review remains ongoing)
  • SPHS +8.5% (announces that data from its successful Phase 2a study of topsalysin will be presented as a poster on March 26 at the 32nd Annual European Association of Urology in London, UK)
  • QTNT +3.8% (announces that eight new rare antisera blood typing reagent products have been licensed for commercialization in the U.S. by the FDA)
  • RXDX +3.4% (is exploring strategic options for taladegib and has entered into an amended and restated license, development and commercialization agreement with Eli Lilly (LLY) for the taladegib oncology program)
  • GLOG +3.1% (GasLog Partners to purchase from GasLog (GLOG) 100% of the shares in the entity that owns and charters GasLog Greece)
  • GLOP +1.9% (GasLog Partners to purchase from GasLog (GLOG) 100% of the shares in the entity that owns and charters GasLog Greece)
  • NVO +1.8% (announces the CHMP provided a positive opinion for an EU label update for Tresiba)
  • A +1.7% (favorable commentary on Thursday's Mad Money)
  • NVDA +1.3% (announces that Tencent (TCEHY) Cloud will adopt NVIDIA Tesla GPU)

Analyst comments:

  • ZSAN +5.6% (initiated with a Overweight at Piper Jaffray)
  • UAA +4.1% (upgraded to Buy from Hold at Jefferies)
  • PVH +1.4% (upgraded to Buy from Neutral at Citigroup)
  • UN +0.7% (upgraded to Overweight from Equal Weight at Barclays)
  • ADBE +0.5% (upgraded to Outperform from Neutral at Credit Suisse)
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 Gapping down

Gapping down
In reaction to disappointing earnings/guidance
:

  • FINL -15%, GME -10.8%, SPWH -10.5%, OXM -8.7%, CBAY -8.7%, OPGN -6.3%, ENV -1.4%, KLDX -1.1%

Other news:

  • XENE -44.2% (announces XEN801 did not meet efficacy endpoints in phase 2 clinical trial in patients with moderate to severe acne)
  • MDGS -22.9% (pricing of a best efforts public offering of 979,714 Class A Units at a purchase price per unit of $3.50 and of 1,163,144 Class B Units at an effective purchase price per unit of $3.50)
  • ADPT -8.8% (receives NYSE notice of non-compliance regarding late form 10-K filing; will have six months from March 16, 2017 to file)
  • CDOR -6.7% (prices offering of 4.15 mln shares of common stock at $10.50 per share)
  • MYL -3.9% (Abbott Laboratories (ABT) lowers active stake to 4.81% after selling a total of 44 mln Ordinary Shares through a privately-negotiated block trade at a price of $41.60 per Ordinary Share, not including discounts and commission)
  • CHMI -1.8% (prices public offering of 4.5 mln shares of common stock at $16.50 per share)
  • M -1.1% (elected Jeff Gennette CEO, effective today)
  • FL -1.1% (in sympathy with FINL)

Analyst comments:

  • TNDM -4% (downgraded to Neutral from Buy at B. Riley)
  • M -1.1% (downgraded to Neutral from Buy at Citigroup)
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 Gapping up/down: MU +13% after earnings, UAA +4% and PVH +1% after upgrades; FINL -15%, GME -11% and OXM -9% after earnings, M -1% after dg

Gapping up
In reaction to strong earnings/guidance
:

  • HTGM +70.7%, (also announces that its HTG EdgeSeq technology has been successfully adapted for use with the QIAGEN GeneReader NGS System based on the results of initial technical feasibility tests)
  • ZAIS +39.4%, EBIO +21.1%, NVCN +14.9%, MU +13.2%, LTBR +12.2%, VSTM +6%, JAG +5.4%, SPP +3.9%, CYTX +1.2%, SCVL +0.8%, REX +0.7%

Select MU peers/related names showing strength:

  • WDC +3.8%, AMD +1.4%, STX +1.2%, INTC +0.7%, . 

Other news:

  • RGLS +23.6% ( Chairman disclosed purchase of 500K shares, worth more than $600K)
  • SNAK +10.4% (light volume; sells Fresh Frozen Foods to The Pictsweet in a cash transaction for approximately $23.7 mln; previously-announced strategic review remains ongoing)
  • SPHS +8.5% (announces that data from its successful Phase 2a study of topsalysin will be presented as a poster on March 26 at the 32nd Annual European Association of Urology in London, UK)
  • QTNT +3.8% (announces that eight new rare antisera blood typing reagent products have been licensed for commercialization in the U.S. by the FDA)
  • RXDX +3.4% (is exploring strategic options for taladegib and has entered into an amended and restated license, development and commercialization agreement with Eli Lilly (LLY) for the taladegib oncology program)
  • GLOG +3.1% (GasLog Partners to purchase from GasLog (GLOG) 100% of the shares in the entity that owns and charters GasLog Greece)
  • GLOP +1.9% (GasLog Partners to purchase from GasLog (GLOG) 100% of the shares in the entity that owns and charters GasLog Greece)
  • NVO +1.8% (announces the CHMP provided a positive opinion for an EU label update for Tresiba)
  • A +1.7% (favorable commentary on Thursday's Mad Money)
  • NVDA +1.3% (announces that Tencent (TCEHY) Cloud will adopt NVIDIA Tesla GPU)

Analyst comments:

  • ZSAN +5.6% (initiated with a Overweight at Piper Jaffray)
  • UAA +4.1% (upgraded to Buy from Hold at Jefferies)
  • PVH +1.4% (upgraded to Buy from Neutral at Citigroup)
  • UN +0.7% (upgraded to Overweight from Equal Weight at Barclays)
  • ADBE +0.5% (upgraded to Outperform from Neutral at Credit Suisse)

Gapping down
In reaction to disappointing earnings/guidance
:

  • FINL -15%, GME -10.8%, SPWH -10.5%, OXM -8.7%, CBAY -8.7%, OPGN -6.3%, ENV -1.4%, KLDX -1.1%

Other news:

  • XENE -44.2% (announces XEN801 did not meet efficacy endpoints in phase 2 clinical trial in patients with moderate to severe acne)
  • MDGS -22.9% (pricing of a best efforts public offering of 979,714 Class A Units at a purchase price per unit of $3.50 and of 1,163,144 Class B Units at an effective purchase price per unit of $3.50)
  • ADPT -8.8% (receives NYSE notice of non-compliance regarding late form 10-K filing; will have six months from March 16, 2017 to file)
  • CDOR -6.7% (prices offering of 4.15 mln shares of common stock at $10.50 per share)
  • MYL -3.9% (Abbott Laboratories (ABT) lowers active stake to 4.81% after selling a total of 44 mln Ordinary Shares through a privately-negotiated block trade at a price of $41.60 per Ordinary Share, not including discounts and commission)
  • CHMI -1.8% (prices public offering of 4.5 mln shares of common stock at $16.50 per share)
  • M -1.1% (elected Jeff Gennette CEO, effective today)
  • FL -1.1% (in sympathy with FINL)

Analyst comments:

  • TNDM -4% (downgraded to Neutral from Buy at B. Riley)
  • M -1.1% (downgraded to Neutral from Buy at Citigroup)
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  On The Wires
  • Kosmos Energy (KOS) announced today that it has begun the second phase of its multi-well explorationdrilling program offshore Mauritania and Senegal.
  • Finjan Holdings, Inc. (FNJN) announced that its subsidiary Finjan, Inc. and Avast Software s.r.o. have reached an agreement that upon Avast's satisfaction of certain terms, Finjan will dismiss its breach of contract and patent infringement claims, filed in the U.S. District Court for the Northern District of California (Case No. 3:17-cv-00283-BLF), against Avast and its newly acquired subsidiary, AVG Technologies, with prejudice. The terms of the agreement are confidential.
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 Durable Orders Beat Expectations… S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +9.90.

The S&P 500 futures trade two points above fair value.

Just in, February durable goods orders rose 1.7%, which is above the 1.3% uptick expected by the Briefing.com consensus. The prior month's reading was revised to 2.3% (from 1.8%). Excluding transportation, durable orders increased 0.4% (Briefing.com consensus 0.7%) to follow the prior month's revised uptick of 0.2% (from -0.2%).

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DayTraderClub, ну ты давать огонь зажигать, понятно мозг улёт
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WDC
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 MYL 41
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 MU
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 SPY продаем?
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 С 85,19
 FB тоже интересно на продажу
 но немного подожду, пока еще не очень нравится он мне чтоб зайти
 WDC 79,5
 AAOI c чата
 DXCM
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PVH шорт
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ACHC ракета
 С продал
 YRD 25
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 SPY борется за выживание
 INTC 35,4 лонг
SPY от хаев продаем?

Максим Лавров, продавал?
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sereja К, да

CLVS
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 SIG
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 WMT слабый
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GME 20,9 покупатель
 удержат или нет, не понятно еще, но попытки есть
 держат очень четко
 цент в цент
TRI откат
OGE с чата
AAPL
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EW уровень 96
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 AEP
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 CBD база
GME 21
 на лонг
SLCA

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