Good morning. Happy Wednesday.
The Asian/Pacific markets closed with solid gains. Japan, China, Hong Kong, Taiwan, Indonesia and Singapore all did very well; India and the Philippines were weak. Europe, Africa and the Middle East are currently little changed. Turkey, Greece and Saudi Arabia are up; South Africa is down. Futures in the States points to a down open for the cash market.
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BLOG: MACD – Everything You Need to Know
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The dollar is down slightly. Oil is flat; copper is down. Gold and silver are up. Bonds are up.
Overnight Stock Movers from barchart.com…
LyondellBasell Industries NV (LYB -1.31%) was downgraded to ‘Underweight’ from ‘Neutral’ at JP Morgan Chase with a price target of $95.
Juniper (JNPR +2.11%) was upgraded to ‘Buy’ from ‘Neutral’ at Nomura Instinet with a price target of $34.
Tilray (TLRY +28.95%) climbed almost 5% in after-hours trading after the company received approval from the DEA to import cannabis into the U.S. for medical research.
Kaman (KAMN +1.17%) was rated a new ‘Overweight’ at Alembic Global Advisors with a price target of $80.
Evo Payments (EVOP -1.61%) fell almost 4% in after-hours trading after it announced a proposed underwritten offering of 6.0 million shares of its Class A common stock.
The oilfield services sector was raised to ‘Attractive’ from ‘In-Line’ at Morgan Stanley with ‘Overweight’ ratings on Baker Hughes a GE Co (BHGE +2.02%) , Halliburton (HAL +1.16%) , Cactus (WHD +3.58%) and Transocean Ltd (RIG +2.93%) .
ProQR Therapeutics NV (PRQR -6.48%) was rated a new ‘Outperform’ at Evercore ISI with a price target of $35.
Surface Oncology (SURF +2.54%) rose nearly 3% in after-hours trading after it was rated a new ‘Outperform’ at Baird with a price target of $23.
Internap (INAP -2.67%) was rated a ‘Buy’ at Suntrust Robinson Humphrey with a price target of $22.
Diamond Offshore Drilling (DO +3.12%) was rated a new ‘Underweight’ at Morgan Stanley with a price target of $15.
Resolute Forest Products (RFP +0.34%) was downgraded to ‘Neutral’ from ‘Outperform’ at CIBC Capital Markets.
Trivago NV (TRVG +5.54%) rallied more than 5% in after-hours trading after PAR Investment Partners reported a 34.5% stake in the company.
Monday’s Key Earnings
FedEx (NYSE:FDX) -2.8% AH following a sharp earnings miss.
Oracle (NYSE:ORCL) -4.6% AH on soft Q2 revenue guidance.
Today’s Economic Calendar
7:00 MBA Mortgage Applications
7:00 Housing Starts
7:00 Current Account
10:30 EIA Petroleum Inventories
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY
2 thoughts on “Before the Open (Sep 19)”
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I look for a nice slow move up from here or a couple of really bearish days. In advance weakness wi hith be a nice entry point.
Fiscal deficits are heading for $1 trillion, and the debt ratio is already twice as high as a decade ago, so there is little room for fiscal expansion.
So, to top it all… We have no ability to turn the economy around if the Fed and Congress continue. You are living a dream regarding a nce entry point.