Before the Open (May 25)

Good morning. Happy Friday.
The Asian/Pacific markets closed mixed. India, New Zealand, Indonesia, Malaysia and Thailand did well; China, Hong Kong and Sinapore posted losses. Europe, Africa and the Middle East currently lean to the downside. Turkey and Germany are up, but Greece, Norway, Hungary, Spain, Italy, Austria and the Czech Republic are down. Futures in the States point towards a gap down open for the cash market.
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The dollar is up. Oil is down almost 2 bucks; copper is also down. Gold and silver are down. Bonds are up.
Overnight Stock Movers from barchart.com…
PayPal (PYPL +0.58%) was upgraded to ‘Buy’ from ‘Hold’ at Stifel with a price target of $99.
Autodesk (ADSK -0.28%) fell more than 4% in after-hours trading after it forecast Q2 adjusted EPS of 13 cents to 16 cents, below consensus of 18 cents.
Deckers Outdoor (DECK +0.81%) rallied 6% in after-hours trading after it forecast Q1 net sales of $225 million to $235 million, better than consensus of $213.6 million, and said it expects full-year adjusted EPS of $6.20 to $6.40, above consensus of $6.01.
Splunk (SPLK -0.28%) slid 3% in after-hours trading after it reported Q1 billings of $288 million, weaker than expectations of $305 million to $310 million.
Ross Stores (ROST +0.42%) dropped nearly 5% in after-hours trading after it forecast Q2 EPS of 95 cents to 99 cents, below consensus of $1.03.
The Gap (GPS +3.03%) fell almost 8% in after-hours trading after it reported Q1 EPS of 42 cents, weaker than consensus of 46 cents.
Shoe Carnival (SCVL +2.85%) rose more than 2% in after-hours trading after it reported Q1 EPS of 83 cents, better than consensus of 71 cents, and forecast full-year EPS of $1.90 to $2.05, the midpoint above consensus of $1.94.
8×8 Inc (EGHT +1.85%) tumbled -13% in after-hours trading after it reported an unexpected loss of -3 cents per share when expectations were for $0.
Zoe’s Kitchen (ZOES -2.89%) plunged 20% in after-hours trading after it reported Q1 revenue of $102.1 million, below consensus of $104.9 million, and forecast full-year revenue of $345 million to $352 million, weaker than consensus of $361 million.
Nutanix (NTNX -1.63%) fell 4% in after0hours trading after it forecast a Q4 adjusted loss per share of -20 cents to -22 cents, wider than consensus of -13 cents.
Pandora Media (P -0.14%) lost almost 2% in after-hours trading after it extended the maturity of certain holders of its existing 1.75% senior convertible notes due 2020 to exchange $192.9 million of the 2020 notes for a new series of 1.75% senior convertible notes due 2023.
New York & Co. (NWY +0.26%) rose 3% in after-hours trading after Q1 comparable store sales rose +2.7% and gross margins improved from 30.7% to 32%.
Thursday’s Key Earnings
Best Buy (NYSE:BBY) -6.7% after slumping online sales.
Gap (NYSE:GPS) -7.7% AH after a sales momentum disappointment.
Medtronic (NYSE:MDT) +2% beating expectations.
McKesson (NYSE:MCK) -1.9% with a Q4 earnings miss.
RBC (NYSE:RY) -2% on flat capital markets profit.
TD Bank (NYSE:TD) +0.4% on volume growth, lower taxes.
Today’s Economic Calendar
8:30 Durable Goods
9:20 Fed’s Powell: “Financial Stability and Central Bank Transparency”
10:00 Consumer Sentiment
11:45 Fed’s Evans Speech
11:45 Fed’s Bostic Speech
11:45 Fed’s Kaplan Speech
1:00 PM Baker-Hughes Rig Count
SIFMA close 2:00 PM
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