Good morning. Happy Friday. Happy Options Expiration Day.
The Asian/Pacific markets closed with a lean to the upside. Japan, Hong Kong, India, New Zealand and the Philippines did well; China and Indonesia were weak. Europe, Africa and the Middle East currently lean to the downside. Greece and Israel are up; Poland, Germany, Russia, the Netherlands, Italy and Portugal are down. Futures in the States point towards a moderate gap down open for the cash market.
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The dollar is down. Oil is up; copper is up. Gold and silver are down. Bonds are up.
Overnight Stock Movers from barchart.com…
Nvidia (NVDA -0.63%) dropped nearly 4% in pre-market trading after it reported Q2 revenue for cryptocurrency-specific products was only $18 million, well below its guidance of about $100 million, and then the CFO said, “we are now projecting no contributions from cryptocurrency going forward.”
Applied Materials (AMAT -0.17%) slid almost 6% in pre0market trading after it forecast Q4 net sales of $3.85 billion to $4.15 billion, weaker than consensus of $4.45 billion.
Micron Technology (MU -0.82%) lost 1% in pre-market trading after it was named in a class-action suit in the U.S. over alleged antitrust violations from 2016-2018 in the DRAM chip market.
Fluor (FLR +1.16%) was upgraded to ‘Buy’ from ‘Hold’ at Canaccord Genuity with a price target of $63.
Nordstrom (JWN +0.81%) rallied over 10% in after-hours trading after it reported Q2 total comparable sales rose +4.0%, well above expectations of +1.1%, and then raised its full-year comparable sales view to up +1.5% to +2.0% from a prior view of +0.5% to +1.5%.
Walmart (WMT +9.33%) was downgraded to ‘Outperform’ from ‘Strong Buy’ at Raymond James.
Dean Foods (DF +0.93%) was downgraded to ‘Underweight’ from ‘Neutral’ at JPMorgan Chase with a price target of $6.
Adtalem Global Education (ATGE -0.54%) dropped almost 7% in after-hours trading after it reported Q4 revenue of $319.8 million, well below consensus of $352.7 million,
Adecoagro (AGRO +0.12%) may move higher initially this morning after it reported Q2 adjusted Ebitda of $137 million, well above consensus of $58.6 million.
Zoes’s Kitchen (ZOES +0.74%) fell almost 4% in after-hours trading after it postponed the release of its Q2 earnings until Friday.
Boxlight (BOXL -1.21%) gained 4% in after-hours trading after it reported Q2 revenue jumped +61% y/y to $9.7 million, better than consensus of $6.5 million.
Accuray (ARAY +1.44%) jumped nearly 8% in after-hours trading after it forecast full-year revenue of $415 million to $425 million, stronger than consensus of $411.2 million.
Thursday’s Key Earnings
Nvidia (NVDA) -10% AH on crypto-related OEM revenue drop.
Applied Materials (AMAT) -4.7% AH on Q3 report with downside guide, near-term customer spend warning.
Nordstrom (JWN) +9% AH on raising FY guidance.
voxeljet (NYSE:VJET) -13% AH on Q2 earnings miss.
Accuray (NASDAQ:ARAY) +7.8% AH on Q4 earnings.
Adtalem Global Education (NYSE:ATGE) -8.5% AH on Q2 earnings miss.
21Vianet (NASDAQ:VNET) -6.3% AH on Q2 revenue miss and loss.
America’s Car-Mart (NASDAQ:CRMT) +6.2% AH on big Q2 earnings beat.
Today’s Economic Calendar
10:00 Consumer Sentiment
10:00 E-Commerce Retail Sales
10:00 Leading Indicators
1:00 PM Baker-Hughes Rig Count
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY