Before the Open (May 16)

Good morning. Happy Wednesday.
The Asian/Pacific markets closed mostly down. South Korea and Malaysia closed up; China, Hong Kong, India, New Zealand and Thailand posted losses. Europe, Africa and the Middle East currently lean down. South Africa and Israel are up; Greece, Spain, Italy and Saudi Arabia are down. Futures in the States point towards a down open for the cash market.
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Podcast: with Chat With Traders
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The dollar is up. Oil and copper are down. Gold and silver are down. Bonds are up.
Overnight Stock Movers from barchart.com…
TripAdvisor (TRIP -0.62%) was downgraded to ‘Sell’ from ‘Neutral’ at Guggenheim Securities with a price target of $40.
Micron (MU +1.91%) was rated a new ‘Outperform’ at RBC Capital Markets with a price target of $80.
Ollies’s Bargain Outlet Holdings (OLLI +2.63%) was rated a new ‘Buy’ at Goldman Sachs with a price target of $78.
PetIQ (PETQ -1.48%) may open to the downside this morning after it forecast full-year revenue of $450 million to $500 million, the midpoint below consensus of $476.4 million.
Monsanto (MON +0.27%) may move higher this morning after Berkshire Hathaway disclosed it had boosted its stake of Monsanto by 62% to 18.9 million shares in Q1.
BioMarin (BMRN -0.94%) was rated a new ‘Buy’ at Canaccord Genuity with a price target of $101.
Celyad SA (CYAD -7.50%) fell 3% in after-hours trading after it announced that it intends to sell up to 1.8 million ordinary shares in a global offering.
Boot Barn Holdings (BOOT +2.14%) rallied 10% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, well above consensus of 16 cents.
Teva Pharmaceutical Industries Ltd (TEVA -0.39%) gained 1% in after-hours trading after Berkshire Hathaway disclosed it had doubled its stake In TEVA in Q1 from 18.8 million shares to 40.5 million shares.
Arbor Realty Trust (ABR +0.54%) slid more than 3% in after-hours trading after it announced that it plans to make a public offering of 5.5 million shares of its common stock.
Prospect Capital (PSEC -0.30%) lost 2% in after-hours trading after it announced that it is offering senior unsecured convertible notes due 2022 in an underwritten public offering.
Gemphire Therapeutics (GEMP -2.97%) was rated a new ‘Outperform’ at Raymond James with a price target of $22.
Verastem (VSTM +1.75%) tumbled 11% in after-hours trading after it announced that it had commenced a registered underwritten public offering of $35 million of it shares of common stock.
Tuesday’s Key Earnings
Home Depot (NYSE:HD) -1.6% on brutal spring weather.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 Housing Starts
9:15 Industrial Production
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY