Before the Open (Feb 6)

Good morning. Happy Tuesday.
The Asian/Pacific markets got hit hard. Japan, China, Hong Kong and Taiwan dropped 4-6%; South Korea, India, New Zealand, Australia, Malaysia, Indonesia and Singapore fell 1-3%. Europe, African and the Middle East are currently suffering big losses. The Uk, Germany, France, Poland, Turkey, Greece, South Africa, Finland, Norway, Hungary, Spain, the Netherlands, Italy, Belgium, Israel, Austria, Sweden and the Czech Republic are down at least 2% each. Futures in the States have been all over the place. At one point S&P futures were down about 80…then they went positive…now they’re down 12.
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The dollar is up. Bitcoin is up (after having been down a bunch). Oil and copper are down. Gold and silver are up. Bonds are up.
Stock headlines from barchart.com…
CoreLogic (CLGX -2.73%) was downgraded to ‘Sell’ from ‘Neutral’ at Compass Point Research & Trading LLC with a price target of $43.
Exxon Mobil (XOM -5.69%) was downgraded to ‘Underweight’ from ‘Overweight’ at Barclays.
Continental Resources (CLR -3.65%) was rated a new ‘Buy’ at B Riley FBR with a 12-month target price of $78.
Molson Coors Brewing (TAP -4.17%) was rated a new ‘Outperform’ at BMO Capital Markets with a 12-month target price of $95.
Skyworks (SWKS -4.32%) rose over 1% in after-hours trading after it reported Q1 adjusted EPS of $2.00, better than consensus of $1.91.
Micron Technology (MU -3.48%) climbed 3% in after-hours trading after it boosted its Q2 EPS estimate to $2.70 to $2.75 from a prior view of $2.51 to $2.65, higher than consensus of $2.51.
Cbre Group (CBRE) was rated a new ‘Outperform’ at Raymond James with a 12-month target price of $55.
Lululemon Athletica (LULU -1.54%) fell nearly 3% in after-hours trading after CEO Lauernt Potdeven resigned in the wake of unspecified misconduct.
Cirrus Logic (CRUS -3.98%) slumped over 10% in after-hours trading after it reported Q3 revenue of $482.7 million, below consensus of $531 million, and then said it sees Q4 revenue of $300 million to $340 million, well below consensus of $373.4 million.
Apptio (APTI +1.74%) gained over 1% in after-hours trading after it reported Q4 revenue of $52.4 million, higher than consensus of $49.9 million, and said it sees full-year revenue of $220 million to $225 million, above consensus of $216.4 million.
Fabrinet (FN -3.80%) rose 7% in after-hours trading after it reported Q2 adjusted EPS of 72 cents, higher than consensus of 70 cents.
Oclaro (OCLR -5.04%) gained almost 2% in after-hours trading after it reported Q2 adjusted EPS of 14 cents, above consensus of 12 cents.
Quotient (QTNT +3.82%) jumped over 10% in after-hours trading after it said it will resume the verification and validation study of its MosaiQ SDS Microarray for blood grouping after the latest process validation data supported the move.
Monday’s Key Earnings
Bristol-Myers (NYSE:BMY) -4% amid questions over a lung cancer trial.
Today’s Economic Calendar
8:30 International Trade
8:50 Fed’s Bullard: U.S. Monetary and Economic Policy
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $26B, 3-Year Note Auction
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY