Before the Open (Jun 11)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mixed and little changed. Japan and South Korea posted gains; China and Indonesia posted losses. Europe, Africa and the Middle East currently lean to the upside. The UK, the UAE, Switzerland, Norway, Spain, Italy and Austria are up; Poland, Greece and Saudi Arabia are down. Futures in the States point towards a slight down open for the cash market.
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The dollar is up slightly. Oil and copper are down. Gold and silver are mixed and nearly flat. Bonds are down.
Overnight Stock Movers from barchart.com…
Envision Healthcare (EVHC +1.56%) may open to the upside this morning after it was acquired by KKR for about $9.9 billion.
Applied Optoelectronics (AAOI +0.84%) may open lower this morning after it was rated a ‘Sell’ at Rosenblatt Securities with a price target of $30.
Incyte (INCY +1.43%) was upgraded to ‘Outperform’ from ‘In-line’ at Evercore ISI with a price target of $96.
First Data (FDC +0.30%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs with a price target of $25.
Match Group (MTCH +1.59%) was upgraded to ‘Buy’ from ‘Hold’ at Jeffries.
DTE Energy (DTE -0.07%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo Securities,
Park Hotels (PK -0.35%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.
Broadridge Financial Solutions (BR +0.53%) will replace Range Resources (RRC -1.17%) in the S&P 500 Index prior to the open of trading on Monday, June 18.
HollyFrontier (HFC +0.57%) will replace Acuity Brands (AYI +0.28%) in the S&P 500 Index prior to the open of trading on Monday, June 18.
United Continental Holdings (UAL +0.65%) reported May traffic rose +6.7% and capacity increased +4.2% in May with consolidated load factor up +2.0 points.
VeriFone (PAY -0.18%) fell -0.2% in after-hours trading after it reported Q1 adjusted EPS of 25 cents, below consensus of 28 cents.
Shake Shack (SHAK +1.83%) fell 1% in after-hours trading after it filed a mixed securities shelf, which includes up to 12.3 million shares of Class A common stock that may be sold from time to time.
Today’s Economic Calendar
11:30 Results of $32B, 3-Year Note Auction
1:00 PM Results of $22B, 10-Year Note Auction
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY

2 thoughts on “Before the Open (Jun 11)”

  1. Fed talk today/tomorrow. Heading into the summer when investing is like having a broken arm and going blind in one eye. Patience is a virtue and cash is king. PS I like Canadians, their head shed is horse of a diffent color.

    1. Results are solid for the monthly 10-year note auction, where coverage, at 2.59, was the highest since January and end investor demand strong, with non-dealers taking down 72 percent of the $22 billion offering. The 2.962 percent high yield was 3.3 basis points below last month’s awarded yield, which was the highest auction rate for the note since January 2014. Risk taking is rising, Watch the FED action…

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