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Seeking Alpha

Wednesday, August 28, 2013

This Week: Peace Disrupted

Assad stupid dumb idiot retard
This weekly period into Labor Day weekend is historically one of the slowest trading periods for stocks, but that is dependent on the NASDAQ (Nasdaq: NDAQ) staying open and Syria not showering chemical weapons on its citizens. As a result, stocks have been shaken up. Economically speaking, there certainly are some tasty tidbits of economic data to review this week, including GDP, durable goods orders, consumer spending and confidence, and home price and sales data. However, the earnings schedule is dwindling away. In fact, I would go so far as to say that any company reporting towards the close of this week should probably be sold just because of the sketchy aspect of doing such a thing when everyone is on vacation.

Index ETF
Week Ending August 23
Year-to-Date
SPDR S&P 500 (NYSE: SPY)
+0.5%
+16.3%
SPDR Dow Jones (NYSE: DIA)
-0.4%
+15.2%
PowerShares QQQ (Nasdaq: QQQ)
+1.6%
+15.9%

Just when it looked like stocks would stabilize (since they did last week), the awkward looking dimwit who runs Syria had to go and use chemical weapons against other Syrians. It’s a situation even the mild geopolitically mannered President Obama cannot ignore. So as the media talks about Syria, Iran, Russia and all the worst case scenarios that could unfold if and when the U.S. and/or some other interested parties finally let loose on Syria, stocks are pressured. However, stay tuned to our blog and other columns, as I have an interesting idea about this I’ll publish on shortly.

Economic Events

THIS WEEK’S ECONOMIC REPORT SCHEDULE

Economic Data Point
Prior
Expected
Actual
MONDAY



+3.9%
-4.0%
-7.3%
4.4
4.5
5.0
TUESDAY



+1.0%
+1.0%
+0.9%
-1.9%

+0.2%
-Year-to-Year Pace
+2.2%

+1.9%
81.0 (R)
78.0
81.5
-11
0
14
107.7

105.1
WEDNESDAY



-0.4%
-1.0%
-1.3%
-4.6%

-2.5%



-Crude Oil Inventory
-1.4 M


-Gasoline Inventory
-4.0 M


THURSDAY



GDP Report Q2
+0.7%
+0.7%

-28.8


336K
330K

57 Bcf








FRIDAY






-Income
+0.3%
+0.2%

-Spending
+0.5%
+0.3%

-Core PCE Price Index
+0.2%
+0.2%

52.3
53.0

80.0
80.0





The economic schedule has been overshadowed this week by the events around Syria, but there are tidbits of data to chew on. The GDP revision for one should weigh on the market when reported and if changed. So far this week the data has been mixed but mostly disappointing, with decreases in activity in housing especially. We’ve discussed the issues around the housing recovery slowdown in past work; it is mostly on seasonal lull and rising mortgage rate shock. The manufacturing news has been mixed thus far this week, with durable goods orders dropping but regional Fed bank measures doing relatively well. While consumer confidence improved in the latest check, consumer spending seems to be slowing. Later this week, we’ll get a look at consumer spending, which should offer an answer on the issue, but I think the slowing is on a lull before the back-to-school spending storm.

Corporate Events

If you own a stock that is reporting results towards the close of this week, you had better worry. Also, watch out for press releases issued this Friday afternoon as a real warning sign. You don’t need to own stocks that have to resort to attempts at hiding bad news from you.

HIGHLIGHTED EPS REPORTS
Company
Ticker
MONDAY

Allied Healthcare Products
Nasdaq: AHPI
Amira Nature Foods
Nasdaq: ANFI
Atlanticus Holdings
Nasdaq: ATLC
Calypte Biomedical
Nasdaq: CBMC
Cambridge Heart
Nasdaq: CAMH
China Cord Blood
NYSE: CO
CSS Industries
NYSE: CSS
Daxor
NYSE: DXR
Dehaier Medical
Nasdaq: DHRM
Digital Cinema Destinations
Nasdaq: DCIN
Hancock Fabrics
Nasdaq: HKFI
HemaCare
Nasdaq: HEMA
Isle of Capri Casinos
Nasdaq: ISLE
KNOT Offshore Partners
Nasdaq: KNOP
Orthofix International
Nasdaq: OFIX
Phoenix Companies
NYSE: PNX
Qihoo 360
Nasdaq: QIHU
Qualstar
Nasdaq: QBAK
RTI International Metals
NYSE: RTI
Rue21
NYSE: RUE
SED International
NYSE: SED
Sedona
Nasdaq: SDNA
SpectraScience
Nasdaq: SCIE
Tower Group
Nasdaq: TWGP
WSP Holdings
NYSE: WH
Yosen Group
Nasdaq: YOSN
TUESDAY

Standex International
NYSE: SXI
dELiA’s
Nasdaq: DLIA
Movado
NYSE: MOV
Donaldson
NYSE: DCI
Sanderson Farms
Nasdaq: SAFM
Regis
NYSE: RGS
Brown Shoe
NYSE: BWS
Tiffany
NYSE: TIF
DSW
NYSE: DSW
Dycom
NYSE: DY
AeroVironment
Nasdaq: AVAV
Heico
NYSE: HEI
TiVo
Nasdaq: TIVO
WMS Industries
NYSE: WMS
Books-A-Million
Nasdaq: BAMM
Concurrent Computer
Nasdaq: CCUR
Daegis
Nasdaq: DAEG
Accuray
Nasdaq: ARAY
QAD Inc.
Nasdaq: QADB
Workday
Nasdaq: WDAY
Adept Technology
Nasdaq: ADEP
Wet Seal
Nasdaq: WTSLA
WEDNESDAY

APR Energy
Nasdaq: APREN
LTX-Credence
Nasdaq: LTXC
Chico’s FAS
NYSE: CHS
Express
Nasdaq: EXPR
Brown-Forman
NYSE: BFB
Zale
NYSE: ZLC
Joy Global
NYSE: JOY
Gordman’s Stores
Nasdaq: GMAN
eGain
Nasdaq: EGAN
Fresh Market
NYSE: TFM
SWS Group
NYSE: SWS
Delta Apparel
NYSE: DLA
Casella Waste Systems
Nasdaq: CWST
Culp
NYSE: CFI
Aceto
Nasdaq: ACET
Perceptron
Nasdaq: PRCP
Williams-Sonoma
NYSE: WSM
Guess
NYSE: GES
Tilly’s
Nasdaq: TLYS
Collector’s Universe
Nasdaq: CLCT
THURSDAY

Pall Corp.
NYSE: PLL
Campbell Soup
NYSE: CPB
Methode Electronics
NYSE: MEI
1-800-Flowers.com
Nasdaq: FLWS
K12
NYSE: LRN
Shiloh Industries
Nasdaq: SHLO
Corinthian Colleges
Nasdaq: COCO
Genesco
NYSE: GCO
Bio-Reference Laboratories
Nasdaq: BRLI
Fred’s
Nasdaq: FRED
U.S. Global Investors
Nasdaq: GROW
American Software
Nasdaq: AMSWA
Bebe Stores
Nasdaq: BEBE
Shoe Carnival
Nasdaq: SCVL
Krispy Kreme Doughnuts
NYSE: KKD
Salesforce.com
NYSE: CRM
Esterline Technologies
NYSE: ESL
Control4
Nasdaq: CTRL
Pacific Sunwear
Nasdaq: PSUN
Splunk
Nasdaq: SPLK
OmniVision Technologies
Nasdaq: OVTI
Astro-Med
Nasdaq: ALOT
Lantronix
Nasdaq: LTRX
MGC Diagnostics
Nasdaq: MGCD
FRIDAY

Big Lots
NYSE: BIG
Sears Hometown & Outlet
Nasdaq: SHOS

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