Before the Open (May 10)

Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly up. Malaysia and Indonesia did very well; China, South Korea and Taiwan also posted gains. Thailand was weak. Europe, Africa and the Middle East currently lean to the upside. Greece, Kenya, Norway, Hungary, Austria and Sweden are doing well; Italy is weak. Futures in the States point towards a positive open for the cash market.
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VIDEO: Trading Ideas for the Market’s Next Leg Up
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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…
First Solar (FSLR +3.23%) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan Chase with a price target of $85.
CBRE (CBG -0.23%) was upgraded to ‘Strong Buy’ from ‘Outperfom’ at Raymond James with a price target of $62.
Trade Desk (TTD +1.14%) was rated a new ‘Outperform’ at Oppenheimer with a price target of $66.
Qualcomm (QCOM +0.59%) rose more than 2% in after-hours trading after it announced a new $10 billion stock buyback authorization.
RingCentral (RNG +2.09%) climbed over 2% in after-hours trading after it forecast Q2 adjusted EPS of 14 cents to 16 cents, above consensus of 13 cents.
MercadoLibre (MELI -2.44%) fell more than 7% in after-hours trading after it reported a Q1 net loss of -29 cents per share.
Roku (ROKU +8.94%) gained 3% in after-hours trading after it forecast Q2 net revenue of $135 million to $145 million, the midpoint better than consensus of $135.6 million.
Synaptics (SYNA +1.77%) dropped nearly 6% in after-hours trading after it forecast Q4 revenue of $370 million to $410 million, weaker than consensus of $419.8 million.
Carvana (CVNA -0.84%) rose 7% in after-hours trading after it reported Q1 revenue of $360 million, higher than consensus of $350.3 million.
Nuance Communications (NUAN +0.66%) sank 11% in after-hours trading after it reported Q1 adjusted EPS of 27 cents, higher than consensus of 28 cents, and lowered its 2018 growth estimate to 2% to 4% from a prior view of 3% to 5%.
Infinera (INFN -0.34%) jumped almost 7% in after-hours trading after it reported Q1 adjusted gross margin of +43.7%, higher than consensus of +40.0%.
Turtle Beach (HEAR -11.48%) surged over 40% in after-hours trading after it boosted its full-year revenue forecast to $205 million from a March 6 view of $157 million, well above consensus of $169.7 million.
Spark Energy (SPKE -0.43%) tumbled 13% in after-hours trading after it reported Q1 adjusted Ebitda of $15.9 million, weaker than consensus of $27 million.
Inovio Pharmaceuticals (INO +3.21%) slid 4% in after-hours trading after it posted a Q1 loss of -36 cents per share, wider than consensus of -11 cents.
Wednesday’s Key Earnings
21st Century Fox (FOXA) +0.8% AH on rising cable revenues.
Centurylink (NYSE:CTL) +2.8% AH beating profit estimates.
Mylan (NASDAQ:MYL) +3.8% reaffirming guidance.
Roku (NASDAQ:ROKU) +4.5% AH following heavy platform growth.
Today’s Economic Calendar
8:30 Initial Jobless Claims
8:30 Consumer Price Index
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
1:00 PM Results of $17B, 30-Year Note Auction
2:00 PM Treasury Budget
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY