Before the Open (Oct 5)

Good morning. Happy Friday. Happy Employment Numbers Day.
The Asian/Pacific market closed mostly down. China moved up, but Japan, Hong Kong, India, Taiwan, Malaysia, Singapore and Thailand were weak. Europe, Africa and the Middle East are currently mostly down. The UK, Turkey, Germany, Greece, South Africa, Finland, Italy, Israel, Austria and the Czech Republic are down the most. Prior to the release of the latest employment figures, futures in the States are flat.
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VIDEO: State of the Market
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The dollar is flat. Oil is up; copper if flat. Gold and silver are up. Bonds are down.
Here are the employment figures.
unemployment rate: 3.7% (down from 3.9%)
nonfarm payrolls: +134K
private payrolls:
average workweek: flat at 34.5 hours
hourly wages: up 3 cents to $27.24
labor participation rate:
August gain raised from 201K to 270K.
July gain raised from 147K to 165K.
After the release, futures spiked but then gave most of the gains back. About 50 minutes before the open, the futures suggest a down open for the cash market.
Overnight Stock Movers from barchart.com…
Costco Wholesale (COST -0.65%) dropped 3% in after-hours trading after it said problems with its IT systems would soon prompt it to report a “material weakness” in some of the information-technology systems that supports its financial reporting.
Eli Lilly (LLY +4.02%) was upgraded to ‘Outperform’ from ‘Market Perform’ at BMO Capital Markets with a price target od $130.
Esterline Technologies (ESL -0.40%) was rated a new ‘Overweight’ at Alembic Global Advisors with a price target of $106.
Tesla (TSLA -4.40%) fell more than 2% in after-hours trading after CEO Musk tweeted “The short seller enrichment commission is doing incredible work.”
CNX Midstream Partners LP (CNXM +0.36%) was rated a new ‘Overweight’ at MUFG Securities Americas with a price target of $24.
Patterson-UTI Energy (PTEN -1.01%) was rated a new ‘Outperform’ at Bernstein with a price target of $21.
Cutera (CUTR -1.68%)tumbled 16% in after-hours trading after it forecast Q3 revenue of $40 million, weaker than consensus of $45.2 million, and then cut its full-year revenue outlook to $165 million-$170 million from a prior estimate of $178 million-$181 million.
Smart Global Holdings (SGH -6.08%) jumped nearly 10% in after-hours trading after it reported Q4 adjusted EPS of $1.72, better than consensus of $1.66, and then projected Q1 non-GAAP EPS of $1.74-$1.79, stronger than consensus of $1.69.
Paratek Pharmaceuticals (PRTK +12.85%) gained 4% in after-hours trading after it said it received acceptance from the European Medicines Agency for its Omadacycline for treatment of community-acquired bacterial pneumonia and acute bacterial skin infections.
Pixelworks (PXLW -4.64%) rose 6% in after-hours trading after it said Nokia’s 7.1 smartphone incorporates Pixelwork’s PX8418 mobile processing chip.
EMCORE (EMKR -1.30%) rallied almost 14% in after-hours trading after it boosted Q4 revenue guidance to $24.2 million to $25.2 million from a prior view of $21 million to $23 million.
KemPharm (KMPH -1.65%) slumped more than 25% in after-hours trading after it offered $25 million of the company’s shares at $3.00 to $3.25 a share, more than 20% below Thursday’s closing price of $4.18.
Wednesday’s Key Earnings
Lennar (NYSE:LEN) -1.1% cutting forecasts, citing Florence.
Today’s Economic Calendar
8:30 Non-farm payrolls
8:30 International Trade
12:30 PM Fed’s Kaplan speech
12:30 PM Fed’s Bostic Speech
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY