Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mostly down. Japan did well, but China, India, New Zealand, Taiwan, Indonesia, Singapore and Thailand posted losses. Europe, Africa and the Middle East are currently split and trading with very few big movers. The UAE and Saudi Arabia are up while the UK, Turkey and South Africa are down. Futures in the States point towards a flat open for the cash market.
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Podcast: with Chat With Traders
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The dollar is down. Oil is down $1.40; copper is down. Gold and silver are up. Bonds are down.
Overnight Stock Movers from barchart.com…
Bank of America (BAC -0.76%) is up 2% in pre-market trading after it reported Q2 adjusted EPS of 64 cents, higher than consensus of 57 cents.
United Parcel Service (UPS +0.41%) was upgraded to ‘Buy’ from ‘Neutral at UBS with a price target of $125.
Public Storage (PSA -0.63%) was downgraded to ‘Underperform’ from ‘In-line’ at Evercore ISI with a price target of $217.
Hasbro (HAS -0.90%) was downgraded to ‘Underperform’ from ‘Market Perform’ at BMO Capital Markets with a price target of $75.
Veoneer (VNE -1.12%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $55.
Knight-Swift Transportation Holdings (KNX -0.21%) was upgraded to ‘Overweight’ from ‘Equal-Weight’ at Barclays with a price target of $55.
Novocure Ltd (NVCR -0.75%) was rated a new ‘Outperform’ at Evercore ISI with a price target of $46/
Autoliv (ALV +0.62%) was upgraded to ‘Outperform’ from ‘Neutral’ at Daiwa Securities with a price target of $118.
JM Smucker (SJM +1.21%) may open higher initially this morning after it boosted its quarterly dividend after the close Friday to 85 cents a share from 78 cents, above consensus of 82 cents.
Ryder System (R +0.70%) may open higher initially this morning after it unexpectedly boosted its quarterly dividend after the close Friday to 54 cents a share from 52 cents a share.
Skyline Champion (SKY -0.24%) filed to sell up to $100 million of its common stock under shelf registration.
Sangamo Therapeutics (SGMO -1.63%) fell 2% in after-hours trading after CTO Michael Holmes resigned effective July 20 to join a startup biotech company. He will be re[laced by Edward Rebar.
Mustang Bio (MBIO +0.67%) filed a $75 million mixed securities shelf.
ShiftPixy (PIXY +68.61%) rose 2% in after-hours trading after it reported Q3 preliminary gross billings rose $60.2 million versus $27.5 million y/y.
Today’s Economic Calendar
8:30 Empire State Mfg Survey
8:30 Retail Sales
10:00 Business Inventories
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 (Jul 16)”
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I am selling out from my Feb 2 buy signal today. I wish I would have heled all of my trade until today I would have made more money. I don’t have next months wall Street journal or I could be very rich.
Great job DP…pleasure to hear your wisdom
We have seen little as yet.inflation and fed reactions are yet to unfold, but the FANGE crew are likely to last into deep fall when the holiday sales attempt to revive the market, Watch energy and consumables before the recession arrives in January 2019.