Before the Open (Feb 7)

Good morning. Happy Wednesday.
The Asian/Pacific markets closed mixed. Taiwan, Malaysia, Indonesia and the Philippines did well; China, Hong Kong and South Korea were weak. Europe, Africa and the Middle East are currently mostly up. The UK, Poland, Germany, the UAE, Finland, Switzerland, Norway, Hungary, the Netherlands, Italy, Belgium, Portugal, Austria, Sweden and the Czech Republic are up 1% or more. Futures in the States point towards a moderate gap down open for the cash market.
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The dollar is up. Bitcoin is up. Oil and copper are down. Gold and silver are down. Bonds are down.
Stock headlines from barchart.com…
Chipotle Mexican Grill (CMG +1.34%) tumbled almost 8% in pre-market trading after the company said during a confernece call that customer traffic is “still negative’ this year so far.
Microchip Technology (MCHP +2.70%) fell nearly 6% in after-hours trading after it said it sees Q4 adjusted EPS of $1.30 to $1.39, the midpoint below consensus of $1.37.
Walt Disney (DIS +1.40%) rose over 2% in after-hours trading after it reported Q1 adjusted EPS of $1.89, better than consensus of $1.61.
Akamai Technologies (AKAM +1.37%) climbed 5% in after-hours trading after it reported Q4 adjusted EPS of 69 cents, above consensus of 63 cents.
Netgear (NTGR +1.97%) rallied 5% in after-hours trading after it reported Q4 adjusted EPS of 71 cents, higher than consensus of 65 cents.
Cerner (CERN +0.91%) lost 2% in after-hours trading after it reported Q4 adjusted EPS of 58 cents, below consensus of 61 cents, and aid it sees Q1 adjusted EPS of 57 cents to 59 cents, well below consensus of 67 cents.
Zendesk (ZEN +3.81%) gained almost 3% in after-hours trading after it reported Q4 revenue of $123.4 million, higher than consensus of $119.8 million, and said it sees full-year revenue of $555.0 million to $565.0 million, better than consensus of $553.7 million.
Cisco Systems (CSCO +3.58%) was rated a new ‘Buy’ at Goldman Sachs with a 12-month target price of $48.
MACOM Technology Solutions (MTSI +6.27%) dropped 6% in after-hours trading after it reported Q1 adjusted EPS of 10 cents, weaker than consensus of 13 cents, and said it sees Q2 adjusted EPS of 10 cents to 16 cents, well below consensus of 29 cents.
Beazer Homes USA (BZH +0.98%) fell 3% in after-hours trading after it reported a -$4.08 Q1 EPS loss, wider than consensus of -3 cents EPS, citing the remeasurement of deferred tax assets.
Pure Storage (PSTG +3.10%) was rated a new ‘Sell’ at Goldman Sachs with a 12-month target price of $16.
Snap (SNAP +1.52%) surged 25% in after-hours trading after it reported Q4 revenue of $285.7 million, stronger than consensus of $252.8 million, and reported 187 million Q4 daily active users, above consensus of 184.3 million.
MagnaChip Semiconductor (MX +1.36%) rose almost 3% in after-hours trading after it reported Q4 revenue of $174.6 million, above consensus of $174 million, and said it sees a “sharp rebound and steep growth in its OLED business” in Q1.
Extreme Networks (EXTR +2.30%) lost 2% in after-hours trading after it reported Q2 adjusted revenue of $231.1 million, weaker than consensus of $241.5 million.
Halcon Resources (HK +1.61%) dropped 8% in after-hours trading after it announced the launch of an underwritten public offering of 8 million shares of its common stock.
Tuesday’s Key Earnings
Allergan (NYSE:AGN) +1.8% reporting a migraine trial success.
Chipotle (NYSE:CMG) -5.4% AH with only a slight rise in sales.
General Motors (NYSE:GM) +5.9% following high hopes for 2018.
Gilead Sciences (NASDAQ:GILD) -2% AH on a weak revenue outlook.
Snap (NYSE:SNAP) +21.4% AH adding user growth in North America.
Walt Disney (DIS) +2.9% AH amid a big quarter for theme parks.
Today’s Economic Calendar
6:00 Fed’s Kaplan speech
7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories
11:15 Fed’s Evans: Monetary Policy
1:00 PM Results of $24B, 10-Year Note Auction
3:00 PM Consumer Credit
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY