{"id":10003,"date":"2016-10-25T07:51:12","date_gmt":"2016-10-25T12:51:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10003"},"modified":"2016-10-25T07:51:12","modified_gmt":"2016-10-25T12:51:12","slug":"before-the-open-oct-25-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10003","title":{"rendered":"Before the Open (Oct 25)"},"content":{"rendered":"

Good morning. Happy Tuesday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan, Australia, New Zealand and Taiwan did well; India, Indonesia and South Korea were weak. Europe<\/strong> is currently mostly up, but gains are small. Russia is up 1%; the UK, Germany, Austria, the Netherlands and Poland are also doing well. Spain, Greece, Portugal and Romania are weak. Futures in the States<\/strong> point towards a slight up open for the cash market. <\/span>
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\n The dollar is flat. Oil and copper are up. Gold and silver are up. Bonds are down. <\/span>
\n Yesterday most of the indexes remained in range, but the Nas 100 moved to a new all-time high thanks to some big moves from several big cap tech stocks. Facebook, Google and Microsoft jumped to new all-time highs. <\/span>
\n\"\"
\n Amazon and Netflix are close to their own new highs. <\/span>
\n\"\"
\n These are all great companies. For the most part they deserve the gains, but I’m wondering how much is performance chasing. Fund managers who’ve under-performed or who’ve just had so-so years will chase the best-performers in a desperate attempt to post a decent gain for the year. If this is true, all these stocks could run up 10% the next two months. <\/span>
\n Otherwise the market is stuck in a range. The first hurdle to climb is the election. If the market doesn’t wake up after that, then maybe we’ll have to wait until the December Fed meeting. I doubt it, but it’s possible. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Swift Transportations (SWFT +2.22%) gained 2% in after-hours trading after it reported Q3 adjusted EPS of 34 cents, higher than consensus of 32 cents.<\/span>
\n Rambus (RMBS +3.18%) climbed 5% in after-hours trading after it reported Q3 adjusted EPS of 16 cents, above consensus of 13 cents, and said it sees Q4 revenue of $94 million-$98 million, higher than consensus of $894.4 million.<\/span>
\n Eli Lilly (LLY -0.87%) dropped nearly 3% in pre-market trading after it reported Q3 adjusted EPS of 88 cents, weaker than consensus of 96 cents.<\/span>
\n Visa (V +1.00%) lost nearly 1% in after-hours trading after it said it sees 2017 adjusted EPS growth of mid-teens on a nominal dollar basis, below estimates of 20% growth.<\/span>
\n Sonic (SONC +1.85%) sank 10% in after-hours trading after it reported Q4 revenue of $162.1 million, below consensus of $167.2 million.<\/span>
\n CoreLogic (CLGX +2.18%) rose nearly 3% in after-hours trading after it reported Q3 adjusted EPS of 73 cents, higher than consensus of 66 cents and boosted its stock buyback plan by 1 million shares.<\/span>
\n Wabash National (WNC +0.83%) lost 6% in after-hours trading after it reported Q3 revenue of $464.3 million, weaker than consensus of $480.6 million.<\/span>
\n Greenhill & Co. (GHL +1.51%) slipped over 1% in after-hours trading after it reported Q3 EPS of 41 cents, weaker than consensus of 42 cents.<\/span>
\n Fiesta Restaurant Group (FRGI -0.55%) gained over 1% in after-hours trading after it said it will close 10 Pollo Tropical Locales and re-brand up to three locations as Taco Cabana.<\/span>
\n ProAssurance (PRA +0.52%) slid 5% in after-hours trading after it said preliminary Q3 operating EPS will be between 43 cents-47 cents, weaker than consensus of 60 cents.<\/span>
\n Allison Transmission Holdings (ALSN +0.40%) rose over 2% in after-hours trading after it reported Q3 EPS of 27 cents, higher than consensus of 24 cents.<\/span>
\n Park National (PRK +0.75%) climbed nearly 3% in after-hours trading after it reported Q3 EPS of $1.78, well above consensus of $1.40.<\/span>
\n New Mountain Finance (NMFC +1.02%) fell 3% in after-hours trading after it began an offering of 5 million shares of common stock.<\/span>
\n SAExploration Holdings (SAEX -3.11%) catapulted over 40% in after-hours trading after it received $24.4 million of tax credit certificates from Alaska’s Department of Revenue and was granted access to the remaining $15 million of funding available under its senior loan facility.<\/span>
\n Monday’s Key Earnings<\/strong>
\n B\/E Aerospace (NASDAQ:BEAV) +16.4% after a buyout from Rockwell Collins (NYSE:COL).
\n Kimberly Clark (NYSE:KMB) -4.7% on lower selling prices.
\n T-Mobile (NASDAQ:TMUS) +9.5% increasing subscriber numbers.
\n Visa (NYSE:V) -1% AH issuing a light outlook. <\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:55 Redbook Chain Store Sales
\n 9:00 FHFA House Price Index
\n 9:00 S&P Case-Shiller Home Price Index
\n 10:00 Consumer Confidence
\n 10:00 Richmond Fed Mfg.
\n 10:00 State Street Investor Confidence Index
\n 1:00 PM Results of $26B, 2-Year Note Auction
\n 1:20 PM Fed’s Lockhart speech<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\nToday’s Earnings here<\/a><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Tuesday. The Asian\/Pacific markets closed mixed. Japan, Australia, New Zealand and Taiwan did well; India, Indonesia and South Korea were weak. Europe is currently mostly up, but gains are small. Russia is up 1%; the UK, Germany, Austria, the Netherlands and Poland are also doing well. Spain, Greece, Portugal and Romania are […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10003"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10003"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10003\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}