{"id":10081,"date":"2016-12-06T08:50:57","date_gmt":"2016-12-06T13:50:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10081"},"modified":"2016-12-06T08:50:57","modified_gmt":"2016-12-06T13:50:57","slug":"before-the-open-dec-6-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10081","title":{"rendered":"Before the Open (Dec 6)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Hong Kong, New Zealand, South Korea and Taiwan led the way. Europe<\/strong> is currently mostly up. Belgium, Turkey, Finland, Spain, Italy and Portugal are up more than 1%; Austria, Switzerland, and the Czech Republic are also doing well. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
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\n The dollar is up. Oil and copper are down. Gold and silver are mixed. Bonds are down. <\/span>
\n The market jumped yesterday. Things are happening fast these days. <\/span>
\n It took a couple days for the market to recover after the Brexit vote. <\/span>
\n It took a couple hours for overnight futures to recover from news Donald Trump was going to win the Presidency. <\/span>
\n Oil went vertical after the last OPEC meeting. <\/span>
\n Yesterday, out of nowhere, the market jumped and held the gains. <\/span>
\n There have been no basing periods…no pounding out a bottom…just sudden moves that seem to come out of nowhere. I’m not going to call it the new normal, but I will say it’s the state of things right now. <\/span>
\n As stated yesterday, oil needs a break. Crude jumped 15% after the OPEC meeting, but gas prices haven’t budged. I know it seems amateurish, but when gas prices don’t move with crude, the divergence shouldn’t be ignored. <\/span>
\n I like the market overall…but I’m not yet convinced yesterday’s move was the start of the next leg up. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Roper Technologies (ROP -0.37%) will buy Deltek for about $2.8 billion.<\/span>
\n Nike (NKE +2.75%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Cowen.<\/span>
\n Pandora Media (P +0.30%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer with an 18-month target price of $18.<\/span>
\n McCormick (MKC +0.61%) was rated a ‘Buy’ at Vertical Group with a price target of $1.09.<\/span>
\n Tyson Foods (TSN +0.39%) was rated a ‘Buy’ at Vertical Group with a price target of $67.<\/span>
\n Bob Evans Farms (BOBE +2.30%) jumped over 5% in after-hours trading after it reported Q2 adjusted EPS of 56 cents, above consensus of 45 cents, and then raised guidance on 2017 adjusted EPS to $2.15-$2.30 from an August 31 view of $2.05-$2.20.<\/span>
\n Kinder Morgan (KMI +0.47%) gained over 1% in after-hours trading after it said it sees a 50 cent a share dividend in 2017 and “delivering additional value to its shareholders in 2018.”<\/span>
\n Coupa Software (COUP -1.03%) climbed 6% in after-hours trading after it reported a Q3 adjusted loss of -22 cents a share, narrower than consensus of -47 cents, and said it sees a Q4 adjusted EPS loss of -16 cents to -19 cents, smaller than consensus of-23 cents.<\/span>
\n Rent-A-Center (RCII +3.30%) slid 3% in after-hours trading after it said CFO Guy J. Constant resigned his position effective last Friday.<\/span>
\n Lexicon Pharmaceuticals (LXRX +4.41%) tumbled over 12% in after-hours trading after a Phase 2 study of sotagliflozin did not reach statistical significance in young adults with Type 1 Diabetes.<\/span>
\n Forum Energy Technologies (FET +5.22%) fell 5% in after-hours trading after it announced a public offering of 7 million shares of common stock.<\/span>
\n TherapeuticsMD (TXMD +0.65%) surged almost 20% in after-hours trading after a Phase 3 trial of its TX-001HR drug met co-primary goals at multiple doses in postmenopausal women with moderate to severe vasomotor symptoms.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 International Trade
\n 8:30 Productivity and Costs
\n 8:30 Gallup US ECI
\n 8:55 Redbook Chain Store Sales
\n 10:00 Factory Orders<\/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 mostly up. Hong Kong, New Zealand, South Korea and Taiwan led the way. Europe is currently mostly up. Belgium, Turkey, Finland, Spain, Italy and Portugal are up more than 1%; Austria, Switzerland, and the Czech Republic are also doing well. Futures in the States point towards a […]<\/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\/10081"}],"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=10081"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10081\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}