{"id":10043,"date":"2016-11-16T08:35:54","date_gmt":"2016-11-16T13:35:54","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10043"},"modified":"2016-11-16T08:35:54","modified_gmt":"2016-11-16T13:35:54","slug":"before-the-open-nov-16-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10043","title":{"rendered":"Before the Open (Nov 16)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Indonesia rallied more than 2%, and Japan did better than 1%. New Zealand and South Korea also did well. Several indexes closed with losses, but the losses were small. Europe<\/strong> is currently mostly down. Greece is up more than 2%, and Russia is up more than 1%. The Czech Republic is down 1.6%; the UK, Germany, France, Belgium, Finland, Hungary, Spain, Portugal and Italy are also weak. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
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\n The dollar is up. Oil and copper are down. Gold is flat; silver is down. Bonds are down. <\/span>
\n Yesterday was opposite day. The small caps, which had been leading, lagged, and the Nas 100, which hadn’t kept up since the election, posted a solid gain. <\/span>
\n Big cap tech, which had been weak, did great. Financials, which had gone vertical, rested. <\/span>
\n The big and most notable move came from oil. On Monday crude took out a support level but recaptured the level by the close. Then, yesterday, oil gapped up and rallied and posted its biggest single-day gain in a long time. <\/span>
\n\"\"
\n Many oil stocks are neutral. They’ve been trading in a range for a few months and aren’t necessarily ready to bust out. <\/span>
\n Overall I see the group staying in a range. Unless OPEC cuts production, I don’t see crude breaking out to new highs and running…but I also don’t see much downside. I see the range continuing, which will give us a chance to buy dips and sell rallies. <\/span>
\n The market is in pretty good shape. I have no interest being anything but long. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Lowe’s (LOW -1.37%) fell over 5% in pre-market trading after it reported Q3 adjusted EPS of 88 cents, weaker than consensus of 96 cents, and then cut its full-year EPS view to $3.52 from an August 17 view of $4.06.<\/span>
\n Sysco (SYY +0.02%) was downgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse.<\/span>
\n Target (TGT -1.01%) jumped nearly 6% in pre-market trading after it reported Q3 adjusted EPS of $1.04, well above consensus of 83 cents, and then raised guidance on fiscal 2017 adjusted EPS to $5.10-$5.30 from an August 17 view of $4.80-$5.20.<\/span>
\n Lululemon Athletica (LULU -1.76%) lost over 1% in pre-market trading after it was downgraded to ‘Neutral’ from ‘Buy’ at Credit Suisse Group AG.<\/span>
\n OSI Systems (OSIS -1.88%) was rated a new ‘Buy’ at Drexel Hamilton LLC with a 12-month target price of $90.<\/span>
\n ViaSat (VSAT +0.25%) slid over 2% in after-hours trading after it proposed a 6.5 million offering of common stock.<\/span>
\n Agilient Technologies (A +0.15%) gained almost 2% in after-hours trading after it reported Q4 adjusted continuing operations EPS of 59 cents, above consensus of 52 cents.<\/span>
\n CACI International (CACI -3.00%) was rated a new ‘Buy’ at Drexel Hamilton LLC with a 12-month target price of $140.<\/span>
\n Flexion Therapeutics (FLXN -3.24%) dropped nearly 8% in after-hours trading after it proposed an offering of stock, with no amount given.<\/span>
\n MACOM Technology Solutions Holdings (MTSI +1.74%) fell over 3% in after-hours trading after it reported Q4 adjusted EPS of 54 cents, below consensus of 56 cents.<\/span>
\n La-Z-Boy (LZB -0.76%) climbed 5% in after-hours trading after it purchased the UK and Ireland licenses from Furnico and said it bought 9 La-Z-Boy furniture galleries in Pennsylvania and both deals should add $41 million in incremental sales volume.<\/span>
\n Aclaris Therapeutics (ACRS +4.04%) gained over 2% in after-hours trading after it is said it met all endpoints in a Phase 3 study of its A-101 40% Topical Solution for seborrheic keratosis.<\/span>
\n Invitae (NVTA -1.04%) dropped 6% in after-hours trading after it proposed a $40 million offering of common stock.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n JD.Com (NASDAQ:JD) +11.4% following strong quarterly revenue.
\n Depot (NYSE:HD) -2.6% on concerns for U.S. housing.
\n Teva Pharmaceutical (NASDAQ:TEVA) -8.4% giving lukewarm guidance.
\n TJX Companies (NYSE:TJX) -1% posting a weak Q4 outlook.<\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 7:30 Fed’s Kashkari speech
\n 8:30 Producer Price Index
\n 9:15 Industrial Production
\n 10:00 NAHB Housing Market Index
\n 10:00 Atlanta Fed’s Business Inflation Expectations
\n 10:30 EIA Petroleum Inventories
\n 4:00 PM Treasury International Capital<\/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 Wednesday. The Asian\/Pacific markets closed mixed. Indonesia rallied more than 2%, and Japan did better than 1%. New Zealand and South Korea also did well. Several indexes closed with losses, but the losses were small. Europe is currently mostly down. Greece is up more than 2%, and Russia is up more than […]<\/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\/10043"}],"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=10043"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10043\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}