Before the Open (Oct 23)

Good morning. Happy Tuesday.
The Asian/Pacific markets got hit hard today. Japan, China, Hong Kong, South Korea and Taiwan dropped more than 2%; New Zealand, Australia, Malaysia and Singapore fell more than 1%. Europe, Africa and the Middle East are down a bunch. Poland, Denmark, South Africa, Finland, Norway, the Netherlands and Austria are down more than 2%; the UK, France, Germany, Turkey, Israel, Belgium and the Czech Republic are down more than 1%. Futures in the States point towards a huge gap down open for the cash market.
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BLOG: Housing Stocks Warn a Top is Forming
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The dollar is down. Oil is down $1.36; copper is down. Gold and silver are up. Bonds are up.
Overnight Stock Movers from barchart.com…
NetApp (NTAP +3.55%) and Micron Technology (MU -1.71%) were both downgraded to ‘Neutral’ from ‘Positive’ at Susquehanna Financial.
Red Hat (RHT +1.48%) was rated a new ‘Buy’ at Needham & Co with a price target of $183.
Hilton Worldwide Holdings (HLT -0.71%) was rated a new ‘Outperform’ at Cowen with a price target of $81.
Chevron (@symbolPercentChange(CVX was assumed an ‘Overweight’ rating at Piper Jaffray with a price target of $139.
Zions Bancorp NA (ZION -3.45%) gained 2% in after-hours trading after it reported Q3 EPS of $1.04, better than consensus of 96 cents.
Moelis & Co (MC -0.37%) fell 3% in after-hours trading after it reported Q3 revenue of $207.7 million, weaker than consensus of $230.3 million.
SS&C Technologies Holdings (SSNC -0.74%) climbed more than 6% in after-hours trading after it reported preliminary Q3 adjusted EPS of 78 cents-79 cents, above consensus of 66 cents.
Cadence Design Systems (CDNS +1.25%) jumped 9% in after-hours trading after it reported Q3 adjusted EPS of 49 cents, higher than consensus of 1 cents, and then forecast full-year adjusted EPS of $1.80 to $1.82, above consensus of $1.68.
Fabrinet (FN -0.60%) was reinstated at Stifel with a ‘Buy’ rating and a price target of $53.
Superior Energy Services (SPN -3.86%) slid more than 2% in after-hours trading after it reported Q3 adjusted Ebitda of $99.8 million, weaker than consensus of $104.2 million.
Aratna Therapeutics (PETX +13.06%) rose 2% in after-hours trading, on top on Monday’s 13% gain, after dealReporter said the company is working with Barclays to explore alternatives.
Proteostasis Therapeutics (PTI -9.43%) fell 3% in after-hours trading after it announced that it intends to offer 9 million shares of its common stock in an underwritten public offering.
Senseonics Holdings (SENS -4.16%) rallied nearly 6% in after-hours trading after Aetna said it would provide coverage for Senseonic’s Eversense glucose monitoring system.
Affimed NV (AFMD -1.87%) tumbled 8% in after-hours trading after it filed to sell a $150 million shelf of mixed securities.
Monday’s Key Earnings
Halliburton (HAL) -3% guiding below consensus.
Hasbro (NASDAQ:HAS) -3.1% amid falling sales.
Kimberly-Clark (NYSE:KMB) -3.5% appointing a new CEO.
Today’s Economic Calendar
8:55 Redbook Chain Store Sales
9:30 Fed’s Kashkari Speech
10:00 Richmond Fed Mfg.
1:00 PM Results of $38B, 2-Year Note Auction
1:30 PM Fed’s Bostic: Economic Outlook and Monetary Policy
2:15 PM Fed’s Kaplan Speech
6:15 PM Fed’s Evans Speech
8:00 PM Fed’s George “Disruption in the Payments Landscape”
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY