Good morning. Happy Tuesday.
The Asian/Pacific markets closed with a lean to the upside. India rallied 1.7%; South Korea and Taiwan also did well. Europe is currently mostly down. Austria, Belgium, Norway, Sweden, Greece, Spain and Italy are down 0.5 – 1.0%. Futures in the States point towards a moderate gap down open for the cash market.
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The dollar is up. Oil is down. Gold and silver are flat. Bonds are up.
Nothing happened in the market yesterday. The range was small; volume was light; the activity level was low.
Tomorrow is an all-important FOMC meeting, and with the East Coast getting pummeled with snow and many government entities being closed, we’re likely to get another slow day.
Don’t force things right now. Tomorrow could definitely trump the charts.
Stock headlines from barchart.com…
Corning (GLW +0.54%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman Sachs.
Disney (DIS +0.54%) was upgraded to ‘Buy’ from ‘Neutral’ at Guggenheim Securities with a 12-month target price of $128.
GEO Group (GEO +2.84%) rose 1% in after-hours trading after it was announced that it will replace Synopsys in the S&P MidCap 400 before the market opens Thursday, March 16.
Synopsys (SNPS +0.36%) gained 1% in after-hours trading after it was announced that it will replace Harman International in the S&P 500 before the market opens Thursday, March 16.
Black Knight Financial Services (BKFS -1.04%) was rated new ‘Outperform’ at Wedbush with a 12-month target price of $44.
FedEx (FDX +0.50%) and CSX Corp (CSX +0.59%) were both was rated new ‘Outperform’ at Wells Fargo Securities.
Resolute Energy ({=REN climbed 8% in after-hours trading after it reported Q4 adjusted Ebitda of $49.0 million, better than consensus of $45.5 million.
Amphastar Pharmaceuticals (AMPH +0.82%) declined over 7% in after-hours trading after it reported a Q4 loss of -$2.7 million after reporting a profit the same period last year.
Valeant Pharmaceuticals (VRX -1.06%) sold-off 9% in after-hours trading after CNBC reported that Pershing Square Capital Management sold its entire stake of 27.2 million shares in Valeant.
Lantheus Holdings (LNTH +6.04%) dropped 10% in after-hours trading after it announced a public secondary offering of 3 million shares of common stock.
ON Semiconductor Corp. (ON +0.59%) lost 1% in after-hours trading after it said it will offer $500 million in convertible senior notes due 2023 in a private offering.
Physicians Realty Trust (DOC unch) slid 3% in after-hours trading after announced a public offering of 15 million shares of common stock.
Tilly’s (TLYS -2.14%) tumbled over 10% in after-hours trading after it said it sees a Q1 loss per share of -7 cents to -15 cents, wider than consensus of a loss of -4 cents a share.
Aurinia Pharmaceuticals (AUPH +24.00%) slumped over 15% in after-hours trading after it announced a public offering of common stock, although no size was given.
Today’s Economic Calendar
FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Producer Price Index
8:55 Redbook Chain Store Sales
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY