Before the Open (Sep 25)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mostly down. Japan and New Zealand did well; China, Hong Kong, India, Taiwan and the Philippines were weak. Europe, Africa and the Middle East currently lean to the downside. Denmark, Russia and Norway are doing well; Turkey, the UAE, Greece, Hungary, Spain and Saudi Arabia are weak. Futures in the States point towards a slight down open for the cash market.
The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are up.
No reason to repeat what was published over the weekend in LB Weekly.
Stock headlines from barchart.com…
AbbVie (ABBV +0.08%) was downgraded to ‘Neutral’ from ‘Under Review’ at UBS.
Under Armour (UAA -0.49%) was downgraded to ‘Neutral’ from ‘Buy’ at Guggenheim Securities.
General Motors (GM +0.82%) was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank with a price target of $51.
Life Storage (LSI -0.35%) was downgraded to ‘Underperform’ from ‘Neutral’ at Bank of America/Merrill Lynch.
Ross Stores (ROST -0.03%) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan Chase with a price target of $74.
Box (BOX +4.01%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James.
Transocean (RIG +2.64%) was upgraded to ‘Buy’ from ‘Neutral’ at UBS with a price target of $15.
Colgate (CL -0.25%) was upgraded to ‘Overweight’ from ‘Equalweight’ at Morgan Stanley with a price target of $84.
American Outdoor Brands (AOBC -0.99%) was upgraded to ‘Outperform’ from ‘Neutral’ at Wedbush with a target price of $19.50.
Bristol-Myers Squibb’s (BMY +0.05%) Opdivo injection for intravenous use for patients with hepatocellular carcinoma has been approved by the FDA.
Facebook (FB -0.33%) said it dropped a plan to create a new class of shares, which led to the cancellation of a lawsuit by shareholders over a new share class.
Moody’s Investors Service downgraded the United Kingdom’s long-term credit rating to Aa2 from Aa1 and changed the outlook to stable from negative.
Today’s Economic Calendar
8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
12:40 Fed’s Evans: Monetary Policy
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 (Sep 25)”

  1. the Fed continues to sidestep the notion that a protracted period of monetary stimulus may increase the risk of unsettling financial instability that would threaten economic well-being. Watch the fed undo much of its plans —-it could lead to a serious recession.

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