All About Earnings

Good morning. Premarket futures have been searching for direction ahead of a week full of earnings reports. M&A speculation (VZ, AA, IHP, DJ), analyst upgrades/downgrades, higher oil prices, weakness in Asian markets, and a strong reading in today's only economic report - The NY Empire State Index - are the key trading points so far.

Stocks moving higher in premarket include BRLC, PNTR, GEOY, AVAV, REDF, FTEK, DLIA, CPSL, MPEL, AVID, ATHR, CMED, ENZN, LOCM, TEX, OPWV, CKSW, JCI, ASIS, SPWR, MRVL, APPB, and ASTI. Stock moving lower are HHGP, MERX, FRPT, IMMR, IDSY, LIMS, FMCN, ONT, NVEC, PTNR, ESLR, and SIFY.

According to Bloomberg, analysts currently estimate second-quarter profit climbed by only +4.8% for the S&P 500 which would mark the first time growth has been below 10% since 2002. This week is all about trying to figure out whether those estimates are too low, just right, or too high. We shall soon see.

Let's make it a great week!