{"id":10083,"date":"2016-12-07T08:46:18","date_gmt":"2016-12-07T13:46:18","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10083"},"modified":"2016-12-07T08:46:18","modified_gmt":"2016-12-07T13:46:18","slug":"before-the-open-dec-7-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10083","title":{"rendered":"Before the Open (Dec 7)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside. Japan, Hong Kong, China and Australia did well; India was weak. Europe<\/strong> is currently up across-the-board. Greece is up more than 3%; the UK, Germany, Finland and Italy are up more than 1%; Austria, the Netherlands, Norway, Poland, Denmark and Portugal are also doing well. Futures in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\n—————
\n My <\/strong>podcast<\/a> – with Chat With Traders<\/strong>
\n—————<\/span>
\n The dollar is down a small amount. Oil is down; copper is slightly up. Gold and silver are up. Bonds are up. <\/span>
\n The Russell 2000 moved to a new high yesterday; thanks to GS, the Dow is not far behind. Volume has been so-so, and while several breadth indicators have improved, a few have work to do to support the price action. <\/span>
\n The S&P is 100 points above its 200-day, yet the percentage of SPX stocks above their own 200’s is below average relative to the last eight months. Something has to give. We haven’t gotten broad-based participation on this most recent leg up. Here’s the S&P vs. the percentage of SPX stocks above their 200-day MAs. <\/span>
\n\"\"
\n I like the market overall and believe we’ll get across-the-board new highs, but in the near term the participation rate must improve. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Discover Financial Services (DFS +1.38%) was upgraded to ‘Outperform’ from ‘Neutral’ at Wedbush with a 12-month target price of $78.<\/span>
\n Best Buy (BBY +0.23%) was rated a new ‘Buy’ at Loop Capital with a price target of $58.<\/span>
\n ABIOMED (ABMD +2.72%) was rated a new ‘Buy’ at Guggenheim Securities with a 12-month target price of $150.<\/span>
\n MasterCard (MA -1.50%) gained almost 1% in after-hours trading after it boosted its quarterly dividend to 22 cents a share from 19 cents, and then approved a $4 billion stock buyback program, effective upon completion of a previous program that has $1.3 billion remaining.<\/span>
\n Western Digital (WDC +2.83%) rallied over 5% in after-hours trading after it renewed a royalty-bearing cross licensing agreement with Samsung through 2024, and then raised guidance on Q2 adjusted EPS to $2.10-$2.15 from an October 26 view of $1.85-$1.95.<\/span>
\n Dave & Buster’s Entertainment (PLAY -1.70%) jumped 12% in after-hours trading after it reported Q3 EPS of 25 cents, well above consensus of 14 cents, and then raised guidance on fiscal 2017 comparable store sales to up +3.1%-3.6% from a prior view of +2.25%-3.25%.<\/span>
\n Bluebird Bio (BLUE +9.42%) fell over 2% in after-hours trading after it proposed a $200 million stock offering.<\/span>
\n HealthEquity (HQY -2.76%) dropped over 4% in after-hours trading after it reported Q3 EPS of 10 cents, below consensus of 12 cents.<\/span>
\n AeroVironment (AVAV +2.66%) tumbled nearly 10% in after-hours trading after it reported a Q2 loss per share of -18 cents, a much bigger loss than expectations of -1 cent, and then said it sees a Q3 loss per share of -34 cents to -38 cents, more than consensus of -24 cents.<\/span>
\n Ensco PLC (ESV +4.55%) declined over 6% in after-hours trading after it started a private placement of $650 million senior notes due 2014.<\/span>
\n Sigma Designs (SIGM +1.31%) sank over 10% in after-hours trading after it said it expects Q4 revenue of $42 million-$45 million, weaker than consensus of $57.4 million.<\/span>
\n TerraForm Power (TERP +1.83%) slid nearly 2% in after-hours trading after it said it sees completing the rest of its 2016 filings and regaining full compliance by March.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:30 Gallup U.S. Job Creation Index
\n 10:00 Job Openings and Labor Turnover Survey
\n 10:30 EIA Petroleum Inventories
\n 3:00 PM Consumer Credit<\/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 with a lean to the upside. Japan, Hong Kong, China and Australia did well; India was weak. Europe is currently up across-the-board. Greece is up more than 3%; the UK, Germany, Finland and Italy are up more than 1%; Austria, the Netherlands, Norway, Poland, Denmark and Portugal […]<\/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\/10083"}],"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=10083"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10083\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}