Good morning. Happy Thursday.
The Asian/Pacific markets closed mixed and with big movers in both directions. South Korea, Taiwan, Indonesia and the Philippines did well; Japan, China, Hong Kong, India and New Zealand were weak. Europe, Africa and the Middle East are currently mixed. Turkey, the UAE, Russia, Finland, Hungary and Sweden are up; South Africa, Spain, Italy and Austria are up. Futures in the States point towards a positive open for the cash market.
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BLOG: Stochastic – Everything You Need to Know
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The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are up.
Overnight Stock Movers from barchart.com…
CarMax (KMX -1.61%) was upgraded to ‘Outperform’ from ‘Neutral’ at Baird with a price target of $90
Mastercard (MA +0.06%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $238.
Visa (V -0.21%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $187.
Cigna (CI +0.46%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $245.
Alaska Air Group (ALK +1.47%) was upgraded to ‘Outperform’ from ‘In-line’ at Imperial Capital LLC with a price target of $95.
Worldpay (WP -0.28%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $129.
MGM Growth Properties LLC (MGP -0.20%) was rated anew ‘Buy’ at Nomura Instinet with a price target of $37.
PayPal (PYPL -0.21%) was rated a new ‘Outperform’ at BMO Capital Markets with a price target of $112.
Comtech Telecommunications (CMTL +5.10%) dropped nearly 15% in after-hours trading after it reported Q4 net sales of $167.4 million, below consensus of $174.6 million.
Bed Bath & Beyond (BBBY -0.48%) tumbled 17% in after-hours trading after it reported an unexpected -0.6% decline in Q2 comparable sales, weaker than expectations of +0.4%.
Aldeyra Therapeutics (ALDX +34.85%) lost 1% in after-hours trading after it announced that it intends to offer and sell 5.25 million shares of its common stock in an underwritten public offering.
Wednesday’s Key Earnings
Bed Bath & Beyond (NASDAQ:BBBY) -14.9% PM as Q2 comp sales fall short.
Comtech Telecommunications (NASDAQ:CMTL) -10.9% AH on Q4 revenue miss.
H.B. Fuller (NYSE:FUL) +1.9% PM despite Q3 earnings miss.
Today’s Economic Calendar
8:30 Durable Goods
8:30 GDP Q2
8:30 Initial Jobless Claims
8:30 International trade in goods
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
8:30 Corporate profits
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $31B, 7-Year Note Auction
3:00 PM Farm Prices
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
4:30 PM Jerome Powell Speech
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY