Before the Open (Oct 4)

Good morning. Happy Thursday.
Most of the Asian/Pacific markets are suffering big losses. China is up, but Hong Kong, South Korea, India, Taiwan, Indonesia, Singapore and the Philippines dropped at least 1%. Europe, Africa and the Middle East are currently mostly down. Greece is up, but the UK, Denmark, France, Turkey, Israel and Sweden are down 1% or more. Futures in the States point towards a moderate gap down open for the cash market.
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VIDEO: State of the Market
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The dollar is up. Oil is down; copper is up. Gold and silver are up. Bonds are down.
Overnight Stock Movers from barchart.com…
International Business Machines (IBM -0.34%) was rated a new ‘Sell’ at MoffetNathanson with a price target of $150.
AMC Networks (AMCX +1.36%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs with a price target of $61.
Chipotle Mexican Grill (CMG +0.02%) was rated a new ‘Overweight’ at KeyBanc Capital Markets with a price target of $500.
McDonald’s (MCD -0.31%) was rated a new ‘Overweight’ at KeyBanc Capital Markets with a price target of $185.
SYNNEX (SNX +1.32%) fell more than 4% in after-hours trading after it forecast Q4 adjusted EPS of $2.90 to $3.10, the midpoint below consensus of $3.07.
Innovative Industrial Properties (IIPR -6.68%) dropped almost 7% in after-hours trading after it announced that it had commenced a public offering of 2 million shares of its common stock.
Starbucks (SBUX -0.22%) was rated a new ‘Overweight’ at KeyBanc Capital Markets with a price target of $65.
Rudolph Technologies (RTEC -0.58%) tumbled nearly 12% in after-hours trading after it lowered its Q3 adjusted EPS outlook to 22 cents to 25 cents from a view on August 2 of 30 cents to 40 cents.
AtriCure (ATRC +0.09%) slid more than 3% in after-hours trading after it announced that it had commenced a public offering of 2.5 million shares of its common stock.
Monmouth Real Estate Investment (MNR -0.86%) fell over 6% in after-hours trading after it announced that it had commenced a public offering of 8 million shares of its common stock.
Resources Connection (RECN -0.73%) jumped nearly 20% in after-hours trading after it reported Q1 revenue of $178.6 million, well above consensus of $173.5 million.
Cloudera (CLDR +1.07%) rallied 13% and Hortonworks(HDP +1.77%) gained 12% in after-hours trading after the companies said they plan to merge with Cloudera holders to own about 60% of equity and Hortonworks holders to own about 40%.
Barnes & Noble (BKS -1.62%) surged over 24% in after-hours trading after it said it received expressions of interest from multiple parties in making as offer to acquire the company.
Pier 1 Imports (PIR +2.67%) lost more than 4% in after-hours trading after it reported a Q2 adjusted loss per share of -63 cents, wider than consensus of -59 cents.
Wednesday’s Key Earnings
Lennar (NYSE:LEN) -1.1% cutting forecasts, citing Florence.
Today’s Economic Calendar
7:30 Challenger Job-Cut Report
8:15 Randal Quarles: “Trends in Urban and Rural Community Banks”
8:30 Initial Jobless Claims
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY