Before the Open (Jul 12)

Good morning. Happy Thursday.
The Asian/Pacific markets are mostly up. China, Hong Kong and India are up more than 1%; Japan, India, Taiwan and Australia are also doing well. Europe, Africa and the Middle East lean to the upside. The UK, Denmark, Finland, Switzerland, Austria and Sweden are leading; Turkey, Russia and South Africa are down. Futures in the States point towards a relatively big gap up open for the cash market.
The dollar is up. Oil and copper are up. Gold is flat; silver is up. Bonds are down.
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Podcast: with Chat With Traders
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Overnight Stock Movers from barchart.com…
NetApp (NTAP +0.44%) was rated a new ‘Buy’ at Guggenheim Securities with a price target of $94.
Pioneer Natural Resources (PXD -3.81%) was rated a new ‘Overweight’ at Morgan Stanley with a price target of $240.
Netflix (NFLX +0.73%) lost 1% in after-hours trading after it was downgraded to ‘Neutral’ from ‘Buy’ at UBS.
Broadcom (AVGO -2.84%) slid 5% in after-hours trading after it agreed to purchase CA Technologies for $19 billion. CA Technologies CA jumped nearly 16% on the news.
Honeywell International (HON -2.38%) was rated a new ‘Buy’ at Deutsche Bank with a price target of $166.
Bank of the Ozarks (OZRK unch) slid 3% in after-hours trading after it reported Q2 net interest margin of 4.66%, weaker than consensus of 4.69%.
Emerson Electric (EMR -2.70%) was rated a new ‘Buy’ at Deutsche Bank with a price target of $81.
Crestwood Equity Partners LP (CEQP -0.93%) was rated a new ‘Buy’ at SunTrust Robinson Humphrey with a price target of $36.
Zumiez (ZUMZ -1.46%) fell almost 4% in after-hours trading after it reported June comparable sales rose +2.7%, below consensus of +3.9%.
Eaton Corp Plc (ETN -3.26%) was rated a new ‘Buy’ at Deutsche Bank with a price target of $86.
Galmed Pharmaceuticals (GLMD -4.09%) rallied 12% in after-hours trading after it was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $59.
Weatherford International PLC (WFT -0.85%) jumped 7% in after-hours trading after it sold its drilling rigs business in Kuwait, Saudi Arabia and Algeria to ADES International Holding for $287.5 million.
Zion Oil & Gas (ZN +0.76%) slumped 19% in after-hours trading after it said it received a subpoena from the SEC to produce documents citing “non-public, fact-finding inquiry into the company.”
Today’s Economic Calendar
8:30 Consumer Price Index
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
12:15 PM Fed’s Harker Speech
1:00 PM Results of $14B, 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