Before the Open (Dec 6)

Good morning. Happy Thursday.
The Asian/Pacific markets suffered big losses. China, Japan, Hong Kong, South Korea, India, Taiwan, Singapore, Thailand and the Philippines all closed down big. Europe, Africa and the Middle East are currently down big. The UK, France, Germany, South Africa, Norway, the Netherlands, Italy, Belgium, Israel, Austria and Sweden are down 2% or more. Futures in the States point towards a big gap down open for the cash market.
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BLOG: Business, Poker & Trading
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The dollar is down. Oil and copper are down. Gold and silver are mixed and little changed. Bonds are mixed.
Overnight Stock Movers from barchart.com…
Macy’s (M -5.62%) was downgraded to ‘Underweight’ from ‘Neutral’ at Atlantic Equities LLP with a price target of $28.
Twitter (TWTR -3.27%) was rated a new ‘Buy’ at Guggenheim Securities with a price target of $39.
NetEase (NTES -2.52%) was upgraded to ‘Overweight’ from ‘Equal-Weight’ at Morgan Stanley with a price target of $300.
Concho Resources (CXO -4.70%) was rated a new ‘Buy’ at MKM Partners with a price target of $176.
Trade Desk (TTD -5.72%) slid more than 2% in after-hours trading after the company announced that COO Rob Perdue will step down after a transition period in the first half of 2019.
MongoDB (MDB -1.47%) gained more than 1% in after-hours trading after it reported Q3 revenue of $65 million, higher than consensus of $60.3 million and then forecast Q4 revenue of $73 million to $74 million, well above consensus of $64.8 million.
Cimarex (XEC -5.26%) was rated a new ‘Buy’ at MKM Partners with a price target of $108.
Ollie’s Bargain Outlet Holdings (OLLI -4.82%) fell 4% in after-hours trading after it forecast full-year adjusted EPS of $1.74 to $1.77, below consensus of $1.79.
Elastic NV (ESTC -11.56%) climbed 4% in after-hours trading after it reported Q2 revenue of $63.6 million, higher than consensus of $55.6 million, and then forecast Q3 revenue of $64 million to $66 million, better than consensus of $58.4 million.
Marathon Oil (MRO -4.16%) was rated a new ‘Buy’ at MKM Partners with a price target of $26.
Noble Energy (NBL -2.68%) was rated a new ‘Overweight’ at Stephens with a price target of $40.
Guidewire (GWRE -3.21%) fell 3% in after-hours trading after it forecast full-year revenue of $722 million to $732 million, weaker than consensus of $749.4 million.
Marvel Technology Group Ltd (MRVL -5.37%) rose more than 5% in after-hours trading after it reported Q3 net revenue of $851.1 million, better than consensus of $844 million.
Inseego (INSG -3.63%) rallied more than 3% in after-hours trading after the company said it and Verizon will unveil MiFi 5G NR mobile broadband technology today in Maui.
Tuesday’s Key Earnings
Bank of Montreal (NYSE:BMO) -4.1% warning on economic growth.
Dollar General (NYSE:DG) -6.8% tightening profit guidance.
Hewlett Packard Enterprise (NYSE:HPE) -1.7% AH amid tech sector pressure.
Marvell (NASDAQ:MRVL) +4.8% AH beating expectations.
Today’s Economic Calendar
7:30 Challenger Job-Cut Report
8:15 ADP Jobs Report
8:30 Initial Jobless Claims
8:30 Productivity and Costs
8:30 International Trade
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
10:00 Factory Orders
10:00 Quarterly Services Report
11:00 EIA Petroleum Inventories
12:15 PM Fed’s Bostic: Economic Outlook
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
6:30 PM Fed’s Williams Speech
6:45 PM Jerome Powell Speech
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY