Before the Open (Aug 24)

Good morning. Happy Friday.
The Asian/Pacific markets were quiet and mixed. Japan and South Korea moved up; Taiwan, Singapore and the Philippines moved down. Europe, Africa and the Middle East currently lean to the upside. Denmark, Turkey, Russia, South Africa, Italy, Belgium and Israel are up; Greece and Kenya are down. Futures in the States point towards a positive open for the cash market.
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VIDEO: To Confirm a Rally Attempt…
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The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down.
Overnight Stock Movers from barchart.com…
Netflix (NFLX -1.53%) gained more thn 1% in pre-market trading after it was upgraded to ‘Buy’ from ‘Hold’ at Suntrust Robinson Humphrey.
Hormel Foods (HRL -3.06%) was downgraded to ‘Equal-Weight’ from ‘Oveweight’ at Barclays.
Arista Networks (ANET +1.89%) may move higher initially this morning after it was announced that it will replace GGP Inc in the S&P 500 effective prior to the opening of trading on Tuesday, August 28.
Autodesk (ADSK -0.46%) climbed nearly 7& in after-hours trading after it reported Q2 adjusted EPS of 19 cents, above consensus of 16 cents, and then forecast full-year adjusted EPS of 87 cents to 95 cents, the midpoint higher than consensus of 90 cents.
Intuit (INTU +1.32%) fell almost 3% in after-hours trading after it forecast Q1 adjusted EPS of 9 cents to 11 cents, weaker than consensus of 15.7 cents.
Veeva (VEEV +0.60%) rose almost 3% in after-hours trading after it reported Q2 adjusted EPS of 39 cents, better than consensus of 34 cents, and then forecast full-year adjusted EPS of $1.47 to $1.48, stronger than consensus of $1.37.
Splunk (SPLK +0.81%) jumped over 9% in after-hours trading after it reported Q2 revenue of $388.3 million, higher than consensus of $358.5 million, and then forecast Q3 revenue of $430 million to $432 million, above consensus of $427.6 million.
Ross Stores (ROST +1.73%) fell nearly 5% in after-hours trading after it forecast Q3 EPA of 84 cents to 88 cents, the midpoint below consensus of 88 cents.
HP Inc (HPQ +0.57%) reported Q3 adjusted EPS of 52 cents, above consensus of 51 cents, and then raised guidance on fiscal 2018 adjusted EPS to $2.00 to $2.03 from a May 29 view of $1.97 to $2.02, above consensus of $2.00.
The Gap (GPS +0.71%) dropped 7% in after-hours trading after it said Q2 Gap global comparable store sales fell -5.0%, weaker than consensus of -2.3%.
Immunomedics (IMMU -3.24%) slid nearly 3% in after-hours trading after it reported a Q4 loss of -68 cents per share, wider than consensus of -22 cents.
Rosehill Resources (ROSEU -3.94%) was rated a new ‘Buy’ at Stifel with a price target of $14.
New York & Co. (NWY +1.18%) gained 2% in after-hours trading after it reported Q2 comparable store sales rose +0.6% and gross margin improved 150 bps to 32.1%.
Thursday’s Key Earnings
HP (NYSE:HPQ) -2.4% on narrow Q2 revenue beat, in-line guidance.
VMware (NYSE:VMW) -3.4% AH despite Q2 beat.
Splunk (NASDAQ:SPLK) +7.7% AH on Q2 beat and upside revenue guidance.
Ross Stores (NASDAQ:ROST) -5% AH on Q2 margins compression.
Autodesk (NASDAQ:ADSK) +7.8% AH on raising FY guidance.
Veeva Systems (NYSE:VEEV) -0.8% AH on Q2 beat and upside guidance.
The Gap (NYSE:GPS) -7% AH despite Q2 earnings beat.
Intuit (NASDAQ:INTU) -3% AH on downside guidance, CEO leaving role.
Immunomedics (NASDAQ:IMMU) -2.1% AH on Q4 earnings, CFO resignation.
Global Cord Blood (NYSE:CO) +2.2$ AH on Q1 growth.
Today’s Economic Calendar
Jackson Hole Annual Economic Symposium
8:30 Durable Goods
10:00 Fed’s Powell: “Monetary Policy in a Changing Economy”
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