Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly down. Japan gained more than 1%, but China, Hong Kong, Taiwan, Malaysia and Singapore posted losses. The Philippines dropped more than 1%. Europe, Africa and the Middle East are mixed. The UK, Switzerland and Spain are up; Russia, Hungary and Saudi Arabia are down. Futures in the States point towards a slightly up open for the cash market.
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45-Minute WEBINAR (today): The Real Keys to Surviving and Making Solid Profits in the Market
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The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are up.
Stock headlines from barchart.com…
Michael Kors (KORS -0.60%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer with a price target of $55.
Tesla (TSLA +1.37%) slid over 1% in pre-market trading after it was initiated with an ‘Underperform’ at Jeffries with a price target of $280.
Nike (NKE -0.69%) was downgraded to ‘Neutral’ from ‘Positive’ at Susquehanna.
Acacia Communications (ACIA +2.57%) was initiated a new ‘Buy’ at MKM Partners with a 12-month price target of $64.
Walgreens Boots Alliance ({=WBA =}) was initiated a new ‘Outperform’ at RBC Capital Markets with a 12-month price target of $96
Quintiles IMS Holdings (Q +0.64%) was initiated a new ‘Outperform’ at RBC Capital Markets with a 12-month price target of $116.
Total System Services (TSS -0.49%) was downgraded to ‘Hold’ from ‘Buy’ at Stifel.
Watts Water (WTS +4.53%) was initiated a new ‘Buy’ at Oppenheimer with a 12-month price target of $72.
Quality Systems (QSII -0.88%) was initiated a new ‘Underperform’ at RBC Capital Markets with a price target of $12.
Beacon Roofing Supply (BECN +1.15%) slid almost 5% in after-hours trading after it announced an underwritten public offering of $300 million in shares of its common stock.
Mirati Therapeutics (MRTX -3.57%) gained almost 1% in after-hours trading after it was initiated a new ‘Outperform’ at Oppenheimer with an 18-month price target of $18.
Steelcase (SCS +0.70%) rose almost 4% in after-hours trading after it reported Q2 revenue of $775.6 million, better than consensus of $758.3 million.
Aldeyra Therapeutics (ALDX +2.25%) dropped 12% in after-hours trading after it announced an underwritten public offering of 2.7 million shares of common stock.
Today’s Economic Calendar
FOMC meeting begins
8:30 Housing Starts
8:30 Current Account
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY