Before the Open (Apr 11)

Good morning. Happy Wednesday.
The Asian/Pacific markets closed with a lean to the upside. China, Taiwan, Malaysia, Indonesia and Singapore did well; Japan and Australia posted losses. Europe, Africa and the Middle East are currently mostly down. Turkey is down more than 2%; Greece, Denmark, South Africa, Sweden and Saudi Arabia are down more than 1%. Futures in the States point towards a relatively big gap down open for the cash 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…
Fortinet (FTNT +3.23%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley.
Citigroup (C +1.54%) was upgraded to ‘Buy’ from ‘Hold’ at HSBC with a price target of $85.
eBay (EBAY +1.83%) was upgraded to ‘Overweight’ from ‘Sector-Weight’ at KeyBanc Capital Markets with a price target of $50.
Synaptics (SYNA +4.59%) was upgraded to ‘Buy’ from ‘Neutral’ at Mizuho Securities USA with a price target of $55.
Imperva (IMPV +0.46%) was rated a new ‘Buy’ at D.A. Davidson with a price target of $56.
Compass Minerals International (CMP +0.32%) gained nearly 0.5% in after-hours trading after it reported it sold 4.3 million tons of highway deicing products in Q1, a +22% y/y increase.
Analogic (ALOG +1.16%) dropped over 11% in after-hours trading after it announced that it had agreed to be acquired by Altaris Capital Partners LLC for $84 a share in cash, well below Tuesday’s closing price of $96.05 a share.
Spectrum Pharmaceuticals (SPPI +41.90%) rose 3% in after-hours trading, on top of Tuesday’s 41% surge, after it reported encouraging results in a Phase 2 study of its EGFR Exon 20 Mutant non-small cell lung cancer.
Invitae (NVTA -1.54%) rose over 3% in after-hours trading after holder Baker Bros Advisors LP filed a 13G with the SEC, which signals ownership of more than 5% of the company’s outstanding stock.
Purple Innovation (PRPL +3.53%) was rated a new ‘Outperform’ at Wedbush with a price target of $11.
Babcock & Wilcox Enterprises (BW +0.80%) plunged over 30% in after-hours trading after it cut guidance on its 2018 adjusted Ebitda to $20 million to $40 million from a projection of $75 million to $95 million in March.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Results of $20B, 10-Year Note Auction
2:00 PM FOMC minutes
2:00 PM Treasury Budget
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY