Before the Open (Oct 1)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mixed. China and India did well; Australia, Indonesia and the Philippines were weak. Europe, Africa and the Middle East lean to the upside. Denmark, Germany, the UAE, Greece, Spain, the Netherlands and Austria are leading while Kenya, Hungary and Israel lag. Futures in the States point towards a relatively big gap up open for the cash market.
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The dollar is up a small amount. Oil is up; copper is down. Gold and silver are down. Bonds are down.
Overnight Stock Movers from barchart.com…
Tesla (TSLA -13.90%) jumped 16% in pre-market trading after the company settled a lawsuit brought by the SEC where Tesla will pay a $20 million penalty and CEO Musk will be removed as CEO for at least three years after Musk tweeted that he had “funding secured” to take Tesla private at $420 a share.
M&T Bank (MTB -0.64%) was upgraded to ‘Outperform’ from ‘In-line’ at Evercore ISI with a price target of $185.
United Parcel Service (UPS +0.02%) was upgraded to ‘Outperform’ from ‘Market Perform’ at BMO Capital Markets with a price target of $128.
Entegris (ENTG +0.87%) was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank with a price target of $38.
Biogen (BIIB -0.64%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $400.
Chevron (CVX -0.16%) was reinstated with an ‘Outperform’ at Wolfe Research with a price target of $146.
Vertex Pharmaceuticals (VRTX +1.58%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $217.
Intel (INTC +3.07%) was downgraded to ‘Underweight’ from ‘Equal-Weight’ at Barclays with a price target of $38.
Chipotle Mexican Grill (CMG -2.34%) was downgraded to ‘Underperform’ from ‘Market Perform’ at Oppenheimer with a price target of $400.
Delph Technologies (DLPH -1.94%) was downgraded to ‘Underperform’ from ‘Neutral’ at Bank of America/Merrill Lynch.
Gilead Sciences (GILD +0.82%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $87.
Tesaro (TSRO +1.56%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $57.
Today’s Economic Calendar
8:30 Chicago Fed National Activity Index
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY

4 thoughts on “Before the Open (Oct 1)”

  1. the government said the deficit was $152 billion in August—still 41% larger than in the year-earlier period.Government receipts fell 3% in August from a year earlier, in part due to a reduction in remittances from the Federal Reserve. Higher interest payments on the debt, a boost in military spending and rising costs associated with Social Security and Medicare all contributed to higher outlays last month.Ready for recession this winter????

    1. Emergency-savings plans would help Americans avoid financial crises, as seven citizens in 10 have less than $1,000 in a savings account. The gov’t wants to help us save. Some one is not telling us how bad things are in fact.

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