Before the Open (Nov 27)

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mostly up. Japan, South Korea, India and Australia did well; Malaysia was weak. Europe, Africa and the Middle East currently lean to the downside. Russia, Greece and Saudi Arabia are down; Denmark, Turkey, the UAE, South Africa, Finland, Switzerland, Portugal and Austria are down. Futures in the States point towards a moderate gap down open for the cash market.
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The dollar is flat. Oil and copper are down. Gold and silver are up. Bonds are up.
Overnight Stock Movers from barchart.com…
Apple (AAPL +1.35%) fell nearly 2% in pre-market trading after President Trump suggested a 10% tariff may be placed on iPhones and laptops made in China.
United Technologies (UTX -0.82%) gained more than 1% in pre-market trading after it said it will spin off its Otis Elevator and Carrier as independent companies and keep its aerospace business.
Diamondback Energy (FANG +4.22%) may move higher initially this morning after it was announced that it will replace Stericycle in the S&P 500 prior to the open of trade on Monday, Dec 3.
Maxim Integrated Products (MXIM +1.18%) may move higher initially this morning after it was announced that it will replace Aetna in the S&P 500 prior to the open of trade on Monday, Dec 3.
Lamb Weston Holdings (LW -0.96%) may move higher initially this morning after it was announced that it will replace Rockwell Collins in the S&P 500 prior to the open of trade on Monday, Dec 3.
CVS Health (CVS +3.54%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $96.
Macerich (MAC +0.49%) was downgraded to ‘Underweight’ from ‘Equal-Weight’ at Morgan Stanley with a price target of $45.
Bristol-Myers Squibb (BMY -0.38%) fell nearly 3% in after-hours trading after its Odivo drug combination failed to meet its endpoint of overall survival in its Phase 3 CheckMate -451 study of patients with extensive-stage small cell lung cancer.
Acadia Pharmaceuticals (ACAD +5.13%) dropped almost 6% in after-hours trading after it announced that it intends to sell $200 million of its common stock in an underwritten public offering.
Buckle (BKE +2.50%) slid 6% in after-hours trading after it reported Q3 net sales of $215.1 million, below consensus of $218.5 million.
Abeona Therapeutics (ABEO +3.96%) lost nearly 4% in after-hours trading after the company announced the immediate termination of CEO Carsten Thiel due to personal misconduct.
Kosmos Energy Ltd (KOS +1.58%) fell 3% in after-hours trading after it announced a secondary public offering of 15 million shares if its common stock.
Ferroglobe PLC (GSM +1.06%) plunged 22% in after-hours trading after it reported Q3 adjusted Ebitda of $45.0 million, weaker than consensus of $82.7 million.
Today’s Economic Calendar
7:45 Richard Clarida Speech
8:55 Redbook Chain Store Sales
9:00 S&P Corelogic Case-Shiller Home Price Index
9:00 FHFA House Price Index
10:00 Consumer Confidence
1:00 PM Results of $40B, 5-Year Note Auction
2:30 PM Fed’s Bostic, George, Evans: “Economy, regulation, financial innovation, and the future of payments”
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY