Before the Open (Jan 26)

Good morning. Happy Thursday.
The Asian/Pacific markets closed up. Japan and Hong Kong rallied more than 1%; Indonesia, Malaysia and South Korea also did well. Europe leans to the upside. Russia is up 2.3%; Sweden, Poland, Turkey, Denmark and Switzerland are also doing well. Futures in the States point towards a flat or up open depending on which index you look at.
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VIDEO: There’s a Bull Market Somewhere
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The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are down.
The Dow hit 20K yesterday, and every index, except the Russell 2000 and S&P 600, moved to an all-time high.
The AD line did well, but not great. We got a jump in new highs and a drop in the VIX is a new low.
The trend is up…it’s been up. The “right” groups are leading and lagging. There isn’t much to dislike.
Even if a top were to form, it’ll take time, so the only side of the market to be on is the long side.
Stock headlines from barchart.com…
Ebay (EBAY +0.80%) rallied 8% in after-hours trading after it reported Q4 adjusted continuing operations EPS of 54 cents, higher than consensus of 53 cents.
Caterpillar (CAT +1.98%) is down 1.5% in pre-market-trading after it reported Q4 revenue of $9.57 billion, below consensus of $9.81 billion.
McKesson (MCK +1.88%) sank 8% in after-hours trading after it reported Q3 revenue of $50.1 billion, below consensus of $50.5 billion, citing “weaker branded pharmaceutical pricing than anticipated.”
Teradyne (TER +2.53%) climbed 5% in after-hours trading after it reported Q4 adjusted EPS of 32 cents, well above consensus of 22 cents, and said it sees Q1 adjusted EPS of 33 cents-40 cents, higher than consensus of 30 cents.
Mattel (MAT +1.19%) tumbled 10% in after-hours trading after it reported Q4 adjusted EPS of 52 cents, well below consensus of 71 cents.
Citrix Systems (CTXS +1.45%) dropped 4% in after-hours trading after it said it sees Q1 adjusted EPS of 93 cents-95 cents, below consensus of $1.19.
United Rentals (URI +0.57%) jumped 8% in after-hours trading after it reported Q4 adjusted EPS of $2.67, higher than consensus of $2.30, and then said it will acquire NES Rentals Holdings II for $965 million.
Varian Medical Systems (VAR +2.35%) fell 2% in after-hours trading after it reported Q1 adjusted EPS of 75 cents, weaker than consensus of $1.05, and said it sees Q2 adjusted EPS of 84 cents-90 cents, below consensus of $1.18.
ServiceNow (NOW +2.85%) rallied 5% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, higher than consensus of 23 cents, and then said it sees fiscal 2017 revenue of $1.82 billion-$1.85 billion, above consensus of $1.79 billion.
Las Vegas Sands (LVS +1.23%) fell nearly 5% in after-hours trading after it reported Q4 net revenue of $3.08 billion, below consensus of $3.12 billion.
Vertex Pharmaceuticals (VRTX +3.59%) rose over 1% in after-hours trading after it reported Q4 adjusted EPS of 35 cents, better than consensus of 30 cents.
Western Digital (WDC +5.28%) gained almost 2% in after-hours trading after it said it sees Q3 adjusted EPS of $2.00-$2.10, well above consensus of $1.68.
F5 Networks (FFIV +1.11%) slid over 4% in after-hours trading after it reported Q1 net revenue of $516 million, less than consensus of $516.8 million.
Quality Systems (QSII +2.99%) rallied over 7% in after-hours trading after it reported Q3 revenue of $127.9 million. above consensus of $125.7 million.
Weight Watchers International (WTW +1.09%) jumped 6% and Kraft Heinz (KHC +0.17%) gained almost 1% in after-hours trading after both companies announced a joint venture with Oprah Winfrey called Mealtime Stories that create a new line of food and donate 10% of profits to eradicate hunger.
Wednesday’s Key Earnings
Abbott (NYSE:ABT) flat on in-line earnings.
AT&T (NYSE:T) +0.1% AH adding subs and branded smartphones.
Boeing (NYSE:BA) +4.2% seeing more plane deliveries.
eBay (NASDAQ:EBAY) +8.6% AH after rise in holiday sales.
Freeport-McMoRan (NYSE:FCX) -3.1% as copper output seen slowing.
Las Vegas Sands (NYSE:LVS) -4.2% AH pinched by tight margins.
Mattel (NASDAQ:MAT) -10.7% AH on a weak holiday quarter.
Qualcomm (QCOM) -3% AH overshadowed by global challenges.
United Technologies (NYSE:UTX) -0.6% after revenues fell short.
Western Digital (NYSE:WDC) -0.4% AH hit by recent charge.
Today’s Economic Calendar
8:30 Initial Jobless Claims
8:30 International trade in goods
8:30 Chicago Fed National Activity Index
9:45 Bloomberg Consumer Comfort Index
9:45 PMI Services Index Flash
10:00 New Home Sales
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $28B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY