Good morning. Happy Tuesday.
The Asian/Pacific markets closed with a lean to the downside. Hong Kong and India did well; China, Taiwan, Malaysia, Singapore and Thailand posted losses. Europe, Africa and the Middle East currently lean to the downside. Poland, Kenya, Norway and Hungary are up; France, Germany, Greece, Finland, Switzerland, Spain, Belgium, Sweden and Israel are down. Futures in the States point towards a relatively big gap up open for the cash market.
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The dollar is down a small amount. Bitcoin is up. Oil and copper are up. Gold and silver are down. Bonds are down.
Stock headlines from barchart.com…
Spotify Technology (SPOT) today is scheduled to hold an alternative IPO where the shares simply start trading publicly withoutthe traditional Wall Street bank managing an IPO process.
At Tesla (TSLA -5.13%), CEO Elon Musk said he is personally taking charge of the Model 3 production line on order to fix production delays and meet the company’s aggressive production targets.
Baker Hughes (BHGE) was upgraded to overweight from neutral and the price target was raised to $39 from $35 at Piper.
Switch (SWCH -0.38%) fell sharply by -10% in after-hours trading after its 2018 Ebitda forecast missed the consensus.
Viacom (VIAB -1.64%) fell sharply in after-hours trading on a report that CBS is preparing a below-market initial bid.
Wyndham (WYN -2.92%) received a rating of Outperform in new coverage by Oppenheimer with a price target of $135.
Monday’s Key Earnings
Cancer Genetics (NASDAQ:CGIX) -33.3% AH on Q4 earnings miss.
CVD Equipment (NASDAQ:CVV) +11% AH on Q4 earnings.
Today’s Economic Calendar
Auto sales
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
One thought on “Before the Open (Apr 3)”
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Round two. According to analyst expectations measured by FactSet, earnings are on track to rise 17.3% in the first quarter 2018, the best performance since the first quarter of 2011, when earnings rose 19.5%. And analysts have only been getting more bullish in recent weeks. As of Dec. 31, 2017, first-quarter earnings were expected to rise just 11.4%. Watch if there is a disappointment. Otherwise a recovery to new highs might take place….. Still big on cash either way.