Before the Open (Mar 7)

Good morning. Happy Wednesday.
The Asian/Pacific markets are mostly down. Japan, China, Hong Kong, India, New Zealand, Australia, Indonesia, Singapore and Thailand are weak. Europe, Africa and the Middle East lean to the downside, but most markets are close to unchanged. Hungary is up; South Africa, Russia, Norway and the Czech Republic are down. Futures in the States point towards a relatively big gap down for the cash market.
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ESSAY: Three Steps to Epiphany
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The dollar is flat. Bitcoin is down. Oil and copper are down. Gold and silver are down. Bonds are mixed.
Stock headlines from barchart.com…
Ross Stores (ROST +3.24%) slid 3% in after-hours trading after it forecast full-year EPS of $3.86 to $4.02, weaker than consensus of $4.18.
Armstrong World (AWI +0.91%) was downgraded to ‘Underweight’ from ‘Neutral’ at JPMorgan Chase.
Autodesk (ADSK +0.84%) jumped 10% in after-hours trading after it projected 2019 AAR growth of 28%-30% under the new revenue accounting standard ASC 606, higher than consensus of 24%-26%.
Medifast (MED +0.54%) rallied nearly 12% in after-hours trading after it reported Q4 EPS of 60 cents, better than consensus of 48 cents, and said it sees full-year EPS of $3.15-$3.25, well above consensus of $2.73.
Aerovironment (AVAV +0.78%) dropped 7% in after-hours trading after it said it sees full-year revenue of $280 million to $300 million, the midpoint below consensus of $298.2 million.
Korn/Ferry International (KFY +2.07%) rose 5% in after-hours trading after it reported Q3 adjusted EPS of 70 cents, better than consensus of 58 cents, and said it sees Q4 adjusted EPS of 69 cents to 73 cents, higher than consensus of 67 cents.
Mondelez International (MDLZ +1.13%) slid nearly 3% in after-hours trading after unknown sellers sold 19.5 million shares between $43.90 and $44.50 a share, below Tuesday’s closing price of $45.57.
Editas Medicine (EDIT -0.10%) dropped almost 5% in after-hours trading after it reported Q3 collaboration revenue of $3.67 million, below consensus of $4.20 million.
Spectrum Pharmaceuticals (SPPI -0.57%) fell 7% in after-hours trading after it reported Q4 revenue of $28.6 million, below consensus of $32.9 million, and said it sees 2018 revenue of $90 million to $110 million, well below consensus of $126.5 million.
Casa Systems (CASA +3.53%) rose 2% in after-hours trading after it reported Q4 revenue of $118 million, better than consensus of $101.2 million.
H&R Block (HRB -0.12%) gained nearly 6% in after-hours trading after it reported Q3 revenue of $488 million, better than consensus of $458.8 million.
Carvana (CVNA +0.27%) tumbled 9% in after-hours trading after it reported Q4 revenue of $265.1 million, weaker than consensus of $269.5 million, and said it sees Q1 revenue of $325 million to $355 million, well below consensus of $413.4 million.
Bojangles (BOJA -6.40%) climbed over 8% in after-hours trading after it reported Q4 revenue of $148.1 million, above consensus of $146.8 million, and said it sees full-year revenue of $550 million to $560 million, better than consensus of $546.3 million.
Sunrun (RUN +3.19%) lost 2% in after-hours trading after it reported Q4 adjusted EPS of 25 cents, below consensus of 37 cents.
Tuesday’s Key Earnings
Target (NYSE:TGT) -4.5% announcing a minimum wage hike.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:20 Fed’s Dudley Speech
8:30 International Trade
8:30 Productivity and Costs
10:30 EIA Petroleum Inventories
2:00 PM Fed’s Beige Book
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