Good morning. Happy Thursday.
The Asian/Pacific markets leaned to the upside. Japan, India and Singapore did well; China was weak. Europe, Africa and the Middle East are currently mostly down. The UK, Poland, France, Germany, Finland, Russia, Kenya, Spain, the Netherlands, Italy, Israel, Austria and Sweden are down the most. Futures in the States point towards a moderate gap up open for the cash market.
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VIDEO: Is a Top in Place
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The dollar is flat. Bitcoin is up. Oil is down; copper is up. Gold and silver are up small amounts. Bonds are down.
Stock headlines from barchart.com…
Coherent (COHR -1.54%) dropped 5% in after-hours trading after it reported Q1 gross margin of 45.4%, weaker than consensus of 46.1%.
iRobot (IRBT +1.09%) plunged 20% in after-hours trading after it forecast 2018 EPS of $2.10 to $2.35, well below a GAAP estimate of $2.80.
Sage Therapeutics (SAGE -1.40%) lost over 1% in after-hours trading after it announced that it had commenced an underwritten public offering of $575 million of its common stock.
Take-Two Interactive Software (TTWO -0.91%) fell 6% in after-hours trading after it reported Q3 adjusted revenue of $653.9 million, below consensus of $663 million.
Enanta Pharmaceuticals (ENTA -3.35%) rose nearly 3% in after-hours trading after it reported Q1 EPS of 59 cents, well above consensus of 19 cents.
Synaptics (SYNA +0.12%) climbed over 6% in after-hours trading after it reported Q2 adjusted EPS of $1.11, higher than consensus of $1.08.
Yelp (YELP +1.49%) slumped nearly 9% in after-hours trading after it said it sees Q1 adjusted Ebitda of $29 million to $32 million, weaker than consensus of $38 million.
CSRA (CSRA +2.62%) rose over 3% in after-hours trading after it reported Q3 revenue of $1.31 billion, better than consensus of $1.27 billion, and said it sees full-year revenue of $5.15 billion to $5.20 billion, the midpoint above consensus of $5.15 billion.
Lannett (LCI +3.03%) sank 18% in after-hours trading after it said it sees full-year net sales of $680 million to $700 million, below consensus of $719 million.
Inphi (IPHI -7.42%) fell almost 6% in after-hours trading after it forecast an unexpected Q1 adjusted EPS loss of -4 cents to -6 cents, below consensus for EPS of 17 cents.
Amicus Therapeutics (FOLD +3.24%) rose almost 3% in after-hours trading after it said data shows patients with Pompe disease continued to see improved motor function for up to 12 months in a study of its ATB200/AT2221 combination therapy.
TTM Technologies (TTMI -0.51%) dropped nearly 10% in after-hours trading after it said it sees Q1 adjusted EPS of 22 cents to 28 cents, well below consensus of 36 cents.
Infinera (INFN +1.02%) rallied 6% in after-hours trading after it reported Q4 adjusted revenue of $195.8 million, better than consensus of $190.4 million.
GAIN Capital Holdings (GCAP -2.97%) jumped 7% in after-hours trading after it reported Jan retail segment OTC trading volume was up +18.6% y/y.
Wednesday’s Key Earnings
21st Century Fox (NASDAQ:FOXA) +1.1% AH posting cable-TV growth.
Sanofi (NYSE:SNY) -4.1% following a drop in sales.
Tesla (TSLA) -0.6% AH sticking to its Model 3 targets.
Today’s Economic Calendar
Chain Store Sales
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $16B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY
7 thoughts on “Before the Open (Feb 8)”
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Serious problems loom due to trade deficits with China, Japan, and Germany — the countries that together account for 80% of the US trade deficit today — some good ol’ hounding would be appropriate to start. If not successful then look for a long term correction in the US economy.
10-year yield right at five-year high (matching late-2013 levels). 30-year not even close, but it is at a major horizontal resistance. if it busts through, it can easily and quickly test its corresponding five-year high. it’s hard to ignore the recent trend (unlike stocks, bonds are extremely persistent trenders) but this long-term divergence should also be noted until resolved.
“Trading is tough. It takes years of study and practice. Without a strong emotional drive, it’s unlikely a newbie would be willing to put in the time necessary to get good.”
Jason Leavitt
Very well said. People see my results and want to learn at least that is what they say. They want to make money. After a few days they see how much work it is and they quit. One man I have taught actually learned. I learned more from him than he did from me.
does no one get it,its all about sovereign debt of Europe,japan,china usa
the warning came some 2 weeks ago when German deutcher bank announced it was in trouble again
it holds a lot of europe debt and the dax fell
who would want to buy usa debt with another trillon for trump as the fed is trying to off load its debt
at what interest rate will someone want to buy world soverign short term debt
govt pension funds world wide were used to prop up equities–they have lost money at the top
europe will led the world lower
the bears caused all this
viva volitility
my initial target for this decline in $spx is 2,470 followed by 2,350. i’d be surprised if it dips below 2,200 without a more exhaustive test of the highs. i do not have a good sense right now whether u.s. stocks topped or there is more room to run. my target was 3,200 until recently, but we are where we are right now. if the top indeed is in (a big if), 2,000 will be the initial target after the test of the highs.
cabal will be selling..
RV/INTELLIGENCE ALERT – February 7, 2018
Memo’s exposing corruption within the U.S. government will continue to be released to make way for the restored Republic.
Previous reports stated that the activation of the new financial system was announced to world leaders at the Davos summit last month.
World leaders were also informed about the stock market falling which is just now beginning.
It is all part of the transition from old to new.
The stock market will continue to fall as more Cabal are forced to pull out of the old financial system.
The new financial system will replace the old financial system before the stock market crashes.
There will be no chaos.
Multiple sources are indicating the 800#’s are to be released today or tomorrow
USD is still the world settlement currency
in times of crisis liquidity of physical currency can be a problem
the new system will allow govts to transfer funds electronically
thus doing away with physical currency
a world cyrptocurrency ?????/