Good morning. Happy Friday.
The Asian/Pacific markets closed mostly down. Japan, Hong Kong, South Korea, Taiwan, Australia, Malaysia and Indonesia all posted losses. Europe is currently mostly down. Greece, Russia, Norway, Spain, Italy, Portugal and Austria are down the most. Futures in the States point towards a slight positive open for the cash market.
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Podcast – with Chat With Traders
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The dollar is down. Oil and copper are down. Gold and silver are down. Bonds are down.
Here are the employment numbers:
unemployment rate: 4.4% (was 4.3% last month)
nonfarm payrolls: +220K
private payrolls:
average workweek:
hourly wages: up 0.2% to $26.25/hour
labor participation rate:
April job gain increased from 174K to 207K.
May job gain increased from 138K to 152K.
Stock headlines from barchart.com…
AutoZone (AZO -1.81%) was downgraded to ‘Neutral’ from ‘Buy’ at Bank of America/Merrill Lynch.
Helmerich & Payne (HP -1.60%) was downgraded to ‘Underperform’ from ‘Market Perform’ at Wells Fargo Securities with a 12-month target price of $45.
Stanley Black & Decker (SWK -0.51%) was initiated with a new ‘Buy’ at MKM Partners with a 12-month target price of $166.
Campbell Soup (CPB -0.62%) gained almost 1% in after-hours trading after it acquired Pacific Foods of Oregon for $700 million.
SolarEdge Technologies (SEDG +1.56%) rose over 3% in after-hours trading when it was announced that SolarEdge will replace Knight Transportation in the S&P SmallCap 600 before the open on Wednesday, July 12.
Core laboratories NV (CLB -2.21%) gained almost 4% in after-hours trading when it was announced that Core laboratories will replace Panera Bread in the S&P MidCap 400 before the open on Wednesday, July 12.
Mondelez International ({=MDLZ lost 2% in after-hours trading after it said Q2 revenue growth was hurt by a cyberattack and that the full impact of the attack was still being assessed.
Synchronoss Technologies (SNCR -2.34%) jumped 7% in after-hours trading after its board said it had initiated a process to evaluate potential strategic alternatives, including a sale of the company or other transaction.
Cherokee (CHKE +12.32%) plunged 20% in after-hours trading after it reported an unexpected Q1 non-GAAP loss of -7 cents per share, weaker than consensus for a 15 cent per share profit.
Advaxis (ADXS unch) dropped nearly 10% in after-hours trading after CEO Daniel J. O’Connor resigned effective immediately.
Conatus Pharmaceuticals (CNAT -0.32%) gained almost 3% in after-hours trading after it said its pact with Novartis for the global development and commercialization of emericasan has become effective and it received a $7 million payment from Novartis.
Radisys (RSYS -2.17%) slumped over 15% in after-hours trading after it lowered guidance on its Q2 revenue forecast to about $35 million from a May 2 estimate of $41 million-$47 million.
Today’s Economic Calendar
8:30 Non-farm payrolls
10:30 EIA Natural Gas Inventory
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