Good morning. Happy Wednesday.
The Asian/Pacific markets closed mostly down. Japan, China, Hong Kong, South Korea and Taiwan were weak; Australia did well. Europe currently leans to the downside. Poland, Germany, Denmark and the Netherlands are down the most; Italy is doing well. Futures in the States point toward a moderate gap up open for the cash market, thanks to sudden jump about an hour before the open.
The dollar is up a small amount. Oil is down; copper is up. Gold and silver are up. Bonds are down.
Stock headlines from barchart.com…
Expedia (EXPE -2.69%) was upgraded to ‘Buy from ‘Hold’ at Citigroup with a price target of $178.
First Data (FDC -0.96%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley.
Aetna (AET unch) was initiated as a new ‘Buy’ at Citigroup with a price target of $180.
General Motors (GM -0.90%) was initiated with an ‘Overweight’ rating at Morgan Stanley with a price target of $40.
Qualcomm (QCOM -2.00%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Northland Securities.
Visa (V -0.34%) was initiated with a ‘Buy’ at Mizuho Securities USA with a 12-month target price of $115.
Whiting Petroleum (WLL +0.74%) fell nearly 3% and Oasis Petroleum (OAS +2.72%) slid almost 2% in after-hours trading after crude oil prices fell when the API reported a +851,000 bbl build in U.S. crude inventories.
Global Payments (GPN -0.43%) was initiated with a ‘Buy’ at Mizuho Securities USA with a 12-month target price of $105.
Aerovironment (AVAV +4.91%) dropped over 9% in after-hours trading after it said it sees Q1 revenue of $40 million-$44 million, well below consensus of $49.1 million.
CalAmp (CAMP -1.89%) fell nearly 3% in after-hours trading after it said it sees Q2 adjusted EPS of 23 cents to 29 cents, the mid-point below consensus of 29 cents.
KB Home (KBH +0.18%) rose over 1% in after-hours trading after it reported Q2 EPS of 33 cents, higher than consensus of 26 cents.
Ryerson Holding (RYI -1.10%) gained nearly 2% in after-hours trading after it said it sees Q2 revenue of $865 million-$875 million, better than consensus of $842.3 million.
Global Medical REIT (GMRE +0.72%) slid over 8% in after-hours trading after it announced the commencement of an underwritten public offering of 3.5 million shares of its common stock.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 International trade in goods
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $28B, 7-Year Note Auction
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY