Before the Open (Jul 18)

Good morning. Happy Wednesday.
The Asian/Pacific markets lean to the upside. Taiwan, Australia, Malaysia, Indonesia, Thailand and the Philippines are up; China, India and New Zealand are down. Europe, Africa and the Middle East currently lean to the upside. The UK, France, Germany, the UAE, Finland, Switzerland, the Netherlands, Austria and Sweden are up; Denmark, Turkey and Russia are down. Futures in the States point towards a down open for the cash market.
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VIDEO: The 25-Year Tech Cycle
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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…
Alphabet (GOOG +1.26%) is down -0.5% in pre-market trading after the EU was said to fine the company 4.3 billion euros ($5 billion) over apps for Android mobile devices.
Morgan Stanley (MS +0.57%) rose 3% in pre-market trading after it reported Q2 FICC sales and trading revenue of $1.40 billion, better than consensus of $1.24 billion.
BorgWarner (BWA +1.81%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities with a price target of $56.
Equinix (EQIX -0.30%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $526.
CSX Corp (CSX +0.69%) climbed almost 3% in after-hours trading after it reported Q2 revenue of $3.10 billion, better than consensus of $3.01 billion.
Mellanox Technologies Ltd (MLNX +0.89%) gained more than 1% after it reported Q2 revenue of $268.5 million, above consensus of $263.3 million, and then forecast Q3 revenue of $270 million to $280 million, higher than consensus of $269.8 million.
United Continental (UAL +0.50%) rose 3% in after-hours trading after it reported Q2 adjusted EPS of $3.23, higher than consensus of $3.06.
Healthcare Services Group (HCSG -0.80%) fell nearly 7% in after-hours trading after it reported Q2 revenue of $503.7 million, weaker than consensus of $508.6 million.
Sonic Automotive (SAH +1.24%) dropped 11% in after-hours trading after it said preliminary Q2 adjusted EPS will be 32 cents to 36 cents, weaker than consensus of 49 cents, and then lowered its full-year adjusted EPS forecast to $1.90 to $2.00, below consensus of $2.26.
Cara Therapeutics (CARA +2.08%) sild more than 4% in after-hours trading after it announced that it had commenced an underwritten public offering of 4.5 million shares of its common stock.
Marten Transport Ltd (MRTN +0.23%) rose 8% in after-hours trading after it reported Q2 EPS of 25 cents, better than consensus of 22 cents.
Coherus Biosciences (CHRS +0.34%) surged 17% in after-hours trading after it said it expects its marketing application for its CHS-1701 will be included in the European Medicines Agency’s Committee for Medicinal Products for Human Use meeting agenda for July.
RumbleON (RMBL -6.93%) lost more than 2% in after-hours trading after it proposed an underwritten public offering of $10 million in shares of its Class B common stock.
Tuesday’s Key Earnings
Charles Schwab (NYSE:SCHW) +3.6% amid new assets and accounts.
CSX (NYSE:CSX) +3.2% AH powering past Q2 estimates.
Goldman Sachs (GS) -0.2% on legal costs, underwhelming trading.
Johnson & Johnson (NYSE:JNJ) +3.5% beating expectations.
UnitedHealth (NYSE:UNH) -2.6% despite raising guidance.
United Continental (NYSE:UAL) +4% AH upping its full-year outlook.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 Housing Starts
10:00 Powell to deliver the semi-annual monetary policy testimony before the House Financial Services Committee
10:30 EIA Petroleum Inventories
2:00 PM Fed’s Beige Book
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY