Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly up. Thailand was weak, but China, Hong Kong, South Korea and Indonesia did well. Europe, Africa and the Middle East lean to the downside but are mostly quiet. Russia is up; Denmark, Italy and Portugal are down. Futures in the States point towards a mixed and flat open for the cash market.
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BLOG: Bollinger Bands – Everything You Need to Know
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The dollar is up. Oil and copper are up. Gold and silver are unchanged. Bonds are up.
Overnight Stock Movers from barchart.com…
WalMart (WMT -1.37%) is up more than 1% in pre-market trading after it reported Q3 U.S. comparable sales ex-fuel rose +3.4%, better than consensus of +2.9%.
Loxo Oncology (LOXO -9.84%) was rated a new ‘Strong Buy’ at Raymond James with a price target of $235.
JPMorgan Chase (JPM -2.06%) gained over 1% in after-hours trading after Berkshire Hathaway added 35.7 million shares of JPM to its investments in Q3.
Visa (V -0.16%) was rated a new ‘Overweight’ at Barclays with a price target of $170.
Oracle (ORCL -1.35%) rose 3% in after-hours trading after Berkshire Hathaway added 41.4 million shares of ORCL to its investments in Q3.
Wynn Resorts (WYNN +1.23%) was rated a new ‘Outperform’ at Bernstein with a price target of $166.
PNC Financial Services (PNC -1.08%) added 2% in after-hours trading after Berkshire Hathaway added 6.09 million shares of PNC to its investments in Q3.
NetApp (NTAP -1.09%) fell more than 5% in after-hours trading despite its forecast for Q3 net revenue of $1.55 billion to $1.65 billion, the midpoint right on consensus of $1.60 billion.
Cisco Systems (CSCO -1.75%) rose 3% in after-hours trading after it reported Q1 revenue of $13.07 billion, above consensus of $12.87 billion, and then forecast Q2 revenue of 5% to 7%, the midpoint above consensus of 5.5%.
AGNC Investment Corp (AGNC -0.56%) fell more than 2% in after-hours trading after it announced that it plans to make a public offering of 40 million shares of its common stock,
Helius Medical Technologies (HSDT -5.13%) tumbled more than 8% in after-hours trading after it announced that it intends to sell $15 million of its common stock in an underwritten public offering.
Vipshop Holdings Ltd (VIPS +2.10%) climbed 6% in after-hours trading after it reported Q3 revenue of $2.60 billion, above consensus of $2.52 billion.
Coty (COTY +6.62%) was upgraded to ‘Outperform’ from ‘Market Perform’ at BMO Capital Markets with a price target of $12.
SORL Auto Parts (SORL +1.87%) dropped 10% in after-hours trading after it reported Q3 gross margin of 24.3% versus 26.9% y/y.
Remark Holdings (MARK -6.02%) plunged 42% in after-hours trading after it said it defaulted on an $11.5 million payment required by a financing agreement in late Sep.
Wednesday’s Key Earnings
Canopy Growth (NYSE:CGC) -10.9% posting a major loss.
Cisco (NASDAQ:CSCO) +5% AH avoiding tariff effects.
Macy’s (NYSE:M) -7.2% despite strong earnings, guidance.
Today’s Economic Calendar
8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Retail Sales
8:30 Empire State Mfg Survey
8:30 Import/Export Prices
10:00 Fed’s Reserve Vice Chairman for Supervision Governor Quarles: “Semi-Annual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System”
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:00 Jerome Powell Speech
1:00 PM Fed’s Bostic Speech
3:00 PM Fed’s Kashkari Speech
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