Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly up. Japan, China, Hong Kong, South Korea, New Zealand, Australia and Singapore did well; the Philippines was weak. Europe currently leans to the downside. The Uk, Austria and the Czech Republic are doing well; France, Germany, Finland, Switzerland, Spain and Italy are down. Futures in the States are mixed (S&P up, Nas 100 down).
The dollar is down. Oil and copper are up. Gold and silver are down. Bonds are down.
Stock headlines from barchart.com…
Morgan Stanley (MS +0.23%) moved up over 1% in after-hour trading after it passed the Fed’s stress tests and said it will buy back $5 billion of stock in 4 quarters through Q2 of 2018 and increased its dividend to 25 cents a share from 20 cents.
JPMorgan Chase (JPM +2.01%) gained 2% in after-hours trading after it aced the Fed’s stress tests and said it will buy back $19.4 billion of stock between July 1, 2017 and June 30, 2018, and raised its quarterly dividend to 56 cents a share from 50 cents effective Q3.
Discover Financial Services (DFS +1.33%) rose almost 3% in after-hours trading after it passed the Fed’s stress tests and said it will buy back $2.23 billion of stock during 4 quarters ending Jun 2018 and boost its quarterly dividend to 35 cents a share from 30 cents.
Capital One Financial (COF +1.97%) fell over 2% in after-hours trading after the Fed ordered Capital One to shore up risk oversight to address “material weakness” and resubmit a plan for managing capital by December 28.
Staples (SPLS +8.41%) rose almost 2% in pre-market trading after it was acquired by Sycamore Partners for $6.9 billion.
Abbott Laboratories (ABT -0.39%) was initiated with a ‘Buy’ at Guggenheim Securities with a 12-month target price of $58.
Progressive Software (PRGS +2.46%) rallied over 5% in after-hours trading after it reported Q2 adjusted EPS of 42 cents, higher than consensus of 37 cents, and then said it sees full-year adjusted EPS of $1.73-$1.78, above consensus of $1.68.
Physicians Realty Trust (DOC +0.37%) fell over 6% in after-hours trading after it announced that it had commenced a public offering of 20.0 million shares.
Sarepta Therapeutics (SRPT +2.51%) rose nearly 2% in after-hours trading after it appointed former Allergan executive, Douglas Ingram, as CEO.
Kulicke & Soffa Industries (KLIC +2.72%) gained 3% in after-hours trading when it said it sees full fiscal year revenue of $790 million, plus or minus $25 million, higher than consensus of $756.3 million.
Carrizo Oil & Gas (CRZO -2.92%) slid 3% in after-hours trading after it announced an offering of $250 million of senior notes due 2025.
Akebia Therapeutics (AKBA) dropped nearly 6% in after-hours trading after it announced that it intends to offer $50 million of its common stock in an underwritten public offering.
Memphite Therapeutics (GEMP +3.63%) climbed 5% in after-hours trading after it said the primary endpoint was met for its gemcabene in lowering LDL cholesterol in a Phase 2b study.
Pier 1 Imports (PIR +0.75%) tumbled nearly 15% in after-hours trading after it lowered guidance on its full-year net sales estimate to +1.5% to +2.5% from a prior view of +2% to +3%.
Wednesday’s Key Earnings
General Mills (NYSE:GIS) +1.6% beating expectations.
Monsanto (NYSE:MON) +1.3% after reaffirming guidance.
Today’s Economic Calendar
8:30 Initial Jobless Claims
8:30 GDP Q1
8:30 Corporate profits
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Fed’s Bullard: U.S. Monetary and Economic Policy
3:00 PM Farm Prices
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