Before the Open (Jun 19)

Posted on by Jason Leavitt

Good morning. Happy Tuesday.
The Asian/Pacific markets closed with stiff, across-the-board losses. Japan, China, Hong Kong, South Korea, New Zealand, Taiwan, Malaysia, Indonesia, Thailand and the Philippines all got hit hard. Europe, Africa and the Middle East are currently mostly down. Turkey is doing well, but Poland, France, Germany, South Africa, Switzerland, Hungary and Russia are very weak. Futures in the States point towards a huge gap down open for the cash market.
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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…
Red Hat (RHT +0.73%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Raymond James.
Dr Pepper Snapple (DPS +0.25%) was downgraded to ‘Hold’ from ‘Buy’ at Stifel.
Commercial Metals (CMC +2.42%) was downgraded to ‘Underperform’ from ‘Neutral’ at Bank of America Merrill Lynch with a price target of $23.
Masco (MAS -1.20%) was upgraded to ‘Buy’ from ‘Neutral’ at Citigroup with a price target of $44.
Verizon Communications (VZ -1.25%) was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank.
Colgate-Palmolive (CL -2.19%) gained 1% in after-hours trading after it reported a $5 billion share repurchase program.
The Times reported the UK Royal Air Force is in favor of buying 4 to six surveillance planes from Boeing (BA -0.88%) at 2 billion to 3 billion pounds.
Pagseguro Digital Ltd (PAGS -3.75%) dropped 7% in after-hours trading after it filed to sell 33 million shares of its common stock.
Mattel (MAT +0.57%) was downgraded to ‘Neutral’ from ‘Buy’ at UBS.
Tellurian (TELL -1.72%) fell almost 7% in after-hours trading after it announced that it intends to offer 12 million shares of its common stock in an underwritten public offering.
Viveve Medical (VIVE -0.52%) jumped 15% in after-hours trading after it reported positive six-month data from its monopolar radiofrequency technology platform for the treatment of mild-to-moderate stress urinary incontinence in women.
Today’s Economic Calendar
7:00 Fed’s Bullard Speech
8:30 Housing Starts
8:55 Redbook Chain Store Sales
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY

3 thoughts on “Before the Open (Jun 19)”

  1. Tuesday, inflation as measured by the Consumer Price Index shed some light on what would happen in retail sales today. CPI rose 2.8% in May, the fastest year-over-year jump since February 2012. Conversely, the purchasing power of the dollar dropped 2.93% in May from a year ago, the fastest drop since November 2011.
    just holding on is going to be almost impossible for working folks…watch precious metals as a hedge…

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