Before the Open (Jan 16)

Posted on by Jason Leavitt

Good morning. Happy Tuesday. Hope you had a good weekend.
The Asian/Pacific markets closed mostly up. Hong Kong rallied more than 2%; Japan, China, South Korea, New Zealand and Indonesia also did well. Europe, Africa and the Middle East are currently mostly up. Poland and Turkey are up more than 1%; Germany, South Africa, Spain and Saudi Arabia are also doing well. Russia is weak. Futures in the States point towards a relatively big gap up open for the cash market.
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VIDEO: The Decennial Pattern – With a Focus on Years Ending in 7, 8 and 9
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The dollar is down. Bitcoin is down. Oil and copper are down. Gold and silver are flat. Bonds are up.
Stock headlines from barchart.com…
Campbell Soup (CPB -0.52%) was upgraded to ‘Buy’ from ‘Hold’ at Citigroup.
Gilead (GILD -0.05%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities with a price target of $96.
Northrop Grumman (NOC +1.81%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities with a price target of $360.
Qualcomm (QCOM -0.08%) was upgraded to ‘Buy’ from ‘Neutral’ at Nomura Instinet with a price target of $75.
Ciena (CIEN +0.27%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs.
Under Armour (UAA -1.18%) fell 2% in pre-market trading after it was downgraded to ‘Underperform’ from ‘Neutral’ at Macquarie with a price target of $8.
Viacom (VIAB +9.57%) was downgraded to ‘Sell’ from ‘Neutral’ at Rosenblatt Securities.
Atra Biotherapeutics (ATRA +27.54%) rose 2% in after-hours trading on top of the 28% it rallied during Friday’s session on optimism in its “off-the-shelf” T-cell therapy.
Marvell Technology Group Ltd (MRVL +2.98%) was rated a new ‘Buy’ at William O’Neil & Co.
Inspired Entertainment (INSE +1.64%) may move lower this morning when it announced after the close of trading Friday that it will offer up to 21.2 million shares of its common stock for holders.
Kadmon Holdings (KDMN +9.30%) fell 4% in after-hours trading after it filed for up to $40 million in a controlled equity offering.
eGain (EGAN -2.56%) may move lower this morning when it announced after the close of trading Friday that it filed a $40 million common stock shelf.
Today’s Economic Calendar
8:30 Empire State Mfg Survey
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 (Jan 16)”

  1. The most historically reliable valuation measures jOHN hUSSMAN identifies now stand more than 2.9 times the level we expect them to revisit over the completion of the current market cycle. Yes, that implies a seemingly preposterous loss of over -65% in the S&P 500, most likely over the coming 2-3 years. wHEN ARE MARKETS TOO GOOD FOR OLD MEN LIKE ME???

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