Good morning. Happy Friday.
The Asian/Pacific markets closed mostly up. China and Hong Kong each rallied more than 1%. Europe, Africa and the Middle East lean to the upside. Poland, Turkey, Finland, Kenya, Austria and Sweden are up the most. Futures in the States point towards a moderate gap up open for the cash market.
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The dollar is down slightly. Oil and copper are up. Gold and silver are mixed and flat. Bonds are down.
Stock headlines from barchart.com…
Starbucks (SBUX -0.26%) was upgraded to ‘Outperform’ from ‘Neutral’ at Wedbush with a price target of $60.
Autodesk (ADSK -0.04%) gained almost 3% in after-hours trading after it was rated a new ‘Buy’ at Berenberg with a price target of $136.
Quintiles IMS Holdings (Q +1.06%) rallied 3% in after-hours trading after it was announced that it will replace Whole Foods Market in the S&P 500 before the open of trading on Tuesday, August 29.
Twitter (TWTR -0.41%) fell over 1% in after-hours trading after it was downgraded to ‘Hold’ from ‘Buy’ at Jeffries.
Broadcom (AVGO -0.73%) slid nearly 3% in after-hours trading after RBC Capital Markets said a “largely in line” earnings report reflects a lack of “upside.”
Ulta Beauty (ULTA +0.71%) fell over 3% in after-hours trading after it forecast Q3 EPS of $1.63-$1.68, the midpoint below consensus of $1.67.
Splunk (SPLK -0.08%) jumped 8% in after-hours trading after it reported Q2 revenue of $280 million, above consensus of $268.7 million, and then said it sees Q3 revenue of $307 million-$309 million, better than consensus of $306.9 million.
OSI Systems (OSIS +0.58%) rose over 3% in after-hours trading after it reported Q4 adjusted EPS of $1.02, better than consensus of 94 cents, and then forecast full-year sales of $1.04 billion-$1.08 billion, well above consensus of $1.0 billion
VMware (VMW +0.44%) rallied 3% in after-hours trading after it reported Q2 adjusted EPS of $1.19, at eh top of its preliminary forecast of $1.15-$1.19.
Pure Storage (PSTG -0.79%) climbed over 4% in after-hours trading after it reported Q2 revenue of $224.5 million, higher than consensus of $218.4 million, and then said it sees Q3 revenue of $267 million-$275 million, the midpoint above consensus of $269.6 million,
Urban Outfitters (URBN +2.30%) rose 5% in after-hours trading after its board approved the buyback of an additional 20 million shares of the company’s stock for its buyback program.
Marvell Technology (MRVL -0.19%) gained over 1% in after-hours trading after it reported Q2 adjusted EPS continuing operations of 30 cents, better than consensus of 28 cents, and then said it sees Q3 adjusted gross margin of 61%-62%, the midpoint above consensus of 61.1%.
Adamas Pharmaceuticals (ADMS -1.11%) surged over 30% in after-hours trading after its Gocovri drug won FDA approval for treatment of dyskinesia in patients with Parkinson’s disease.
Platinum Specialty Products (PAH -4.81%) rose nearly 5% in after-hours trading after it announced its intention to separate its Agriculture Solutions and Performance Solutions into two public companies.
Thursday’s Key Earnings
Broadcom (NASDAQ:AVGO) -2.5% AH despite topping expectations.
Sears (NASDAQ:SHLD) -0.2% following a quarterly loss.
Staples (NASDAQ:SPLS) +0.1% on in-line earnings.
VMware (NYSE:VMW) -0.7% AH wavering after a Q2 beat.
Today’s Economic Calendar
8:30 Durable Goods
10:00 Janet Yellen speech
1:00 PM Baker-Hughes Rig Count
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY
One thought on “Before the Open (Aug 25)”
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The topic of Yellen’s speech is slated to be financial conditions, in what could well be a look at how much they’ve eased and the future ramifications Buy look to Daghi to tell it like it is. The EU is doing well,with Germany leading. Look for janet to suggest things are better than they appear. Not true but she is selling a possibility to a willing audience. Its an up day at the start of a down fall into Dec.