Before the Open (May 2)

Good morning. Happy Wednesday. Happy Fed Day.
The Asian/Pacific markets closed with a lean to the downside. New Zealand, Australia and Thailand did well; Hong Kong, South Korea, Italy, Malaysia and the Philippines were weak. Europe, Africa and the Middle East currently lean to the upside. Germany, Denmark, Norway, Spain, Italy and Sweden are doing well; Turkey, the UAE and Saudi Arabia are down. Futures in the States point towards a flat-to-mixed open for the cash market.
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VIDEO: The 25-Year Tech Cycle
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The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down.
Stock headlines from barchart.com…
Apple (AAPL +2.32%) rose 3% in pre-market trading after it reported Q2 revenue of $61.1 billion, higher than consensus of $60.9 billion, and forecast Q3 revenue of $51.5 billion to $53.5 billion, better than consensus of $51.4 billion.
Martin Marietta Materials (MLM +0.18%) was upgraded to ‘Buy’ from ‘Neutral’ at Bank of America/Merrill Lynch with a price target of $229.
Coherent (COHR +4.70%) slid nearly 5% in after-hours trading after it reported Q2 adjusted EPS of $3.37, weaker than consensus of $3.49.
Gilead Sciences (GILD +0.46%) fell almost 6% in after-hours trading after it reported Q1 adjusted EPS of $1.48, well below consensus of $1.66.
Shutterfly (SFLY +0.78%) jumped 9% in after-hours trading after it reported Q1 revenue of $199.7 million, better than consensus of $192.0 million.
Yum China Holdings (YUMC -0.68%) dropped 7% in after-hours trading after it reported Q1 comparable sales rose +3.0%, below consensus of +3.3%.
Zendesk (ZEN -0.35%) climbed 7% in after-hours trading after it reported Q1 revenue of $129.8 million, stronger than consensus of $126.5 million, and then forecast full-year revenue of $565 million to $572 million, better than consensus of $562.5 million.
Brooks Automation (BRKS +3.14%) rose 6% in after-hours trading after it reported Q2 adjusted EPS of 40 cents, above consensus of 37 cents, and forecast Q3 EPS of 40 cents to 46 cents, higher than consensus of 38 cents.
Nanometrics (NANO +6.33%) rallied 8% in after-hours trading after it reported Q1 adjusted EPS of 67 cents, higher than consensus of 44 cents, and forecast Q2 adjusted EPS of 57 cents to 74 cents, well above consensus of 45 cents.
Juniper Networks (JNPR +0.61%) climbed over 4% in after-hours trading after it reported Q1 net revenue of $1.08 billion, better than consensus of $1.05 billion.
MACOM Technology Solutions Holdings (MTSI +5.42%) rose nearly 4% in after-hours trading after it reported Q2 revenue of $150.4 million, above consensus of $145.5 million.
Cray (CRAY +2.10%) jumped over 7% in after-hours trading after it reported Q1 revenue of $79.6 million, well above consensus of $50.1 million, and forecast Q2 revenue of $110 million, much better than consensus of $86.1 million.
Snap (SNAP -1.40%) tumbled 16% in after-hours trading after it reported Q1 revenue of $230.7 million, below consensus of $244.9 million, and reported 191 million daily active users in Q1, below consensus of 194.3 million.
Big 5 Sporting Goods (BGFV +2.98%) rose 5% in after-hours trading after it reported Q1 net sales of $234.2 million, above estimates of $230 million.
Tuesday’s Key Earnings
Apple (AAPL) +3.7% AH with iPhone X strength, stock buyback.
Gilead (NASDAQ:GILD) -5.6% AH on slumping hepatitis C drug sales.
Merck (NYSE:MRK) -1.5% amid light revenues.
Mondelez (NASDAQ:MDLZ) +1.6% AH helped by emerging markets.
Pfizer (NYSE:PFE) -3.3% with no big transactions.
Snap (NYSE:SNAP) -14.2% AH as revenues fell short.
T-Mobile (NASDAQ:TMUS) +0.6% AH boosting subscribers growth.
Under Armour (NYSE:UAA) +1.5% lifting global sales.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Treasury Refunding Quarterly Announcement
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY