{"id":10242,"date":"2017-02-22T08:48:26","date_gmt":"2017-02-22T13:48:26","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10242"},"modified":"2017-02-22T08:48:26","modified_gmt":"2017-02-22T13:48:26","slug":"before-the-open-feb-22-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10242","title":{"rendered":"Before the Open (Feb 22)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Hong Kong and China are up almost 1%. Europe<\/strong> is currently mostly down. Russia and Greece are down almost 1%; Austria, Hungary, Spain, Italy and Norway are also weak. Futures in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is up. Oil and copper are down. Gold and silver are flat. Bonds are up. <\/span>
\n The market is on a heck of a run. Every index is at an all-time high. The S&P has moved up 12 of 14 days…the Nas 9 of 10 days…the Dow 8 in a row. <\/span>
\n Today we get minutes of the last FOMC meeting. A few Fed officials have stated the March meeting is in play for a hike – that’s not a definite…just that it’s a possibility. I’ve gone on the record saying they should raise. Why not? They want to get rates back to a normal level, so why not take advantage of the high stock market…they have a huge “price cushion” to work with. <\/span>
\n Otherwise I’m just a broken record here. The trend is up…the market is making new highs virtually every day. There’s no reason to be anything but long. <\/span>
\n The market will top at some point. It’ll consolidate…it’ll drift down…it’ll chop and churn. But the overall trend will remain in place, even if there are disruptions along the way. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Ralph Lauren (RL -0.26%) was downgraded to ‘Underweight’ from ‘Neutral’ at Atlantic Equities LP with a price target of $68.<\/span>
\n Cavium (CAVM +0.19%) was rated a new ‘Buy’ at MKM Partners with a 12-month price target of $77.<\/span>
\n XPO Logistics (XPO -1.71%) rallied over 3% in after-hours trading after it reported Q4 adjusted EPS of 24 cents, higher than consensus of 20 cents.<\/span>
\n Texas Roadhouse (TXRH -0.93%) sank 9% in after-hours trading after it reported Q4 revenue of $484.7 million, weaker than consensus of $497.4 million.<\/span>
\n Red Robin Gourmet Burgers (RRGB -0.63%) climbed over 3% in after-hours trading after it reported Q4 adjusted EPS of 35 cents, above consensus of 31 cents.<\/span>
\n Cirrus Logic (CRUS -0.29%) was rated a new ‘Buy’ at MKM Partners with a 12-month target price of $65.<\/span>
\n Tribune Media (TRCO +2.21%) moved up over 2% in after-hours trading after Starboard Value LP said it raised its stake in the company to 6.6% from 2.3%.<\/span>
\n First Solar (FSLR +5.11%) climbed 5% in after-hours trading after it reported Q4 adjusted EPS of $1.24, higher than consensus of 98 cents, and then said it sees full-year net sales of $2.8 billion-$2.9 billion, above consensus of $2.53 billion.<\/span>
\n Terex (TEX +0.41%) slid over 3% in after-hours trading after it lowered guidance on full-year adjusted EPS to 60 cents to 80 cents, weaker than consensus of $1.05.<\/span>
\n Wright Medical Group NV (WMGI -0.37%) gained nearly 3% in after-hours trading after it reported Q4 net sales of $193 million, better than consensus of $183.5 million, and then said it sees full-year revenue of $755 million-$765 million, better than consensus of $755.5 million.<\/span>
\n CSRA Inc. (CSRA +2.03%) raised guidance on full-year adjusted EPS to $2.00-$2.04 from a prior view of $1.98-$2.02.<\/span>
\n Yum! Brands (YUM -1.07%) dropped over 1% in after-hours trading after a block trade of 12 million shares was said to be offered via Morgan Stanley<\/span>
\n Papa John’s (PZZA -0.44%) fell over 1% in after-hours trading after it reported Q4 revenue of $439.6 million, below consensus of $447.4 million.<\/span>
\n Global Blood Therapeutics (GBT +5.95%) dropped 10% in after-hours trading after it announced a $75 million public offering of common stock.<\/span>
\n Copart (CPRT +2.19%) reported Q2 adjusted EPS of 58 cents, better than consensus of 57 cents.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n First Solar (NASDAQ:FSLR) -2.4% AH margins down, expenses up.
\n Home Depot (NYSE:HD) +1.4% with strong comparable sales.
\n Macy’s (NYSE:M) flat on mixed results.
\n Medtronic (NYSE:MDT) +2.1% beating expectations.
\n Newmont Mining (NYSE:NEM) -1.3% AH missing profit estimates.
\n Wal-Mart (NYSE:WMT) +3% as e-commerce sales impressed.<\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:55 Redbook Chain Store Sales
\n 10:00 Existing Home Sales
\n 11:30 Results of $13B, 2-Year FRN Auction
\n 1:00 PM Results of $34B, 5-Year Note Auction
\n 1:00 PM Fed’s Powell: Economic Outlook and Monetary Policy
\n 2:00 PM FOMC minutes<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span> from Morningstar
\nthis week’s Economic Numbers\/Reports<\/a><\/span> powered by ECONODAY<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. The Asian\/Pacific markets closed mostly up. Hong Kong and China are up almost 1%. Europe is currently mostly down. Russia and Greece are down almost 1%; Austria, Hungary, Spain, Italy and Norway are also weak. Futures in the States point towards a slight down open for the cash market.<\/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\/10242"}],"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=10242"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10242\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}