Good morning. Happy Thursday.
The Asian/Pacific markets posted mostly big losses. Thailand moved up, but Japan, South Korea, India, Taiwan, Australia and the Philippines dropped more than 1%. Europe, Africa and the Middle East are currently mixed but with an upside bias. France, Greece, Spain, Italy, Portugal, Austria and Saudi Arabia are up at least 1%; Denmark and Israel are down. Futures in the States point to a relatively big gap up open for the cash market.
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VIDEO: What Do the Groups Tell Us
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The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down.
Overnight Stock Movers from barchart.com…
Microsoft (MSFT -5.35%) rallied nearly 5% in pre-market trading after it reported Q1 EPS of $1.14, better than consensus of 96 cents.
Tesla (TSLA -1.92%) jumped 11% in after-hours trading after it reported an unexpected Q3 adjusted EPS profit of $2.90, well above consensus for a -15 cents EPS loss.
Align Technology (ALGN -6.69%) slumped more than 20% in after-hours trading after it forecast Q4 EPS of $1.10 to $1.15, well below consensus of $1.33.
Xilinx (XLNX -7.70%) climbed 11% in after-hours trading after it forecast Q3 sales of $760 million to $780 million, well above consensus of $718.7 million.
Vertex Pharmaceuticals (VRTX -6.36%) slid 3% in after-hours trading after it reported Q3 adjusted revenue of $783.9 million, below consensus of $786.9 million.
Norfolk Southern (NSC +2.05%) was upgraded to ‘Buy’ from ‘Hold’ at Stifel with a price target of $189.
Hilton Worldwide Holdings (HLT -7.33%) was upgraded to ‘Buy’ from ‘Neutral’ at B Riley FBR with a price target of $85.
F5 Networks (FFIV -4.23%) rose more than 3% in after-hours trading after it reported Q4 adjusted EPS of $2.90, well above consensus of $2.63, and then forecast Q1 adjusted EPS of $2.51 to $2.54, higher than consensus of $2.47.
Equifax (EFX -3.09%) tumbled almost 13% in after-hours trading after it reported Q3 adjusted EPS of $1.41, below consensus of $1.42, and then forecast Q4 adjusted EPS of $1.30 to $1.35, weaker than consensus of $1.43.
O’Reilly Automotive (ORLY -5.14%) fell nearly 5% in after-hours trading after it forecast Q4 EPS of $3.60 to $3.70, below consensus of $3.74.
Visa (V -3.49%) gained 2% in after-hours trading after it reported Q4 adjusted EPS of $1.21, better than consensus of $1.20.
Whirlpool (WHR -4.97%) rallied 9% in after-hours trading after it reported Q3 ongoing EPS of $4.55, well above consensus of $3.76, and then forecast full-year ongoing EPS of $14.50 to $14.80, higher than consensus of $14.00.
Kraton (KRA -5.31%) dropped more than 5% in after-hours trading after it reported Q3 adjusted EPS of $1.02, weaker than consensus of $1.29.
Advanced Micro Devices (AMD -9.17%) sold-off nearly 17% in after-hours trading after it forecast Q4 revenue of about $1.45 billion, plus or minus $50 million, weaker than consensus of $1.6 billion.
Ford Motor (F -4.77%) jumped 7% in after-hours trading after it reported Q3 automotive revenue of $34.70 billion, above consensus of $33.56 billion.
Wednesday’s Key Earnings
AMD (NASDAQ:AMD) -22.4% AH giving soft revenue guidance.
AT&T (NYSE:T) -8.1% on entertainment, wireline weakness.
Boeing (NYSE:BA) +1.3% raising guidance for 2018.
Ford (NYSE:F) +3.7% AH boosted by its N.America segment.
Freeport-McMoRan (NYSE:FCX) -7.8% amid production rises.
General Dynamics (NYSE:GD) -7.7% after lower core sales.
Las Vegas Sands (NYSE:LVS) +0.7% on a weaker quarter.
Microsoft (MSFT) +4% AH following cloud strength.
Northrop Grumman (NYSE:NOC) -6% despite raising guidance.
Sirius XM (NASDAQ:SIRI) -5% following record revenues.
Tesla (TSLA) +9.8% AH posting a quarterly profit.
UPS (NYSE:UPS) -5.5% lifting its free cash flow view.
Visa (NYSE:V) +1.7% AH on growing consumer spending.
Today’s Economic Calendar
8:30 Durable Goods
8:30 Initial Jobless Claims
8:30 International trade in goods
8:30 Retail Inventories
8:30 Wholesale Inventories
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
12:15 PM Richard Clarida: Economic Outlook and Monetary Policy
1:00 PM Results of $31B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
7:00 PM Fed’s Mester Speech: Monetary Policy and Economic Outlook
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY