{"id":10270,"date":"2017-03-07T08:51:22","date_gmt":"2017-03-07T13:51:22","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10270"},"modified":"2017-03-07T08:51:22","modified_gmt":"2017-03-07T13:51:22","slug":"before-the-open-mar-7-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10270","title":{"rendered":"Before the Open (Mar 7)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside, but movement was minimal. Hong Kong, South Korea and Taiwan led to the upside; there were no other notable movers. Europe<\/strong> is currently mixed and little changed. Russia and Hungary are down more than 1%; Poland is also weak. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a>
\n—————<\/span>
\n The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are down. <\/span>
\n I’ve sounded like a broken record lately…saying I like the market long term (I really do), but I don’t like it in the near term (I don’t). <\/span>
\n I call it as I see it. There’s been enough beneath-the-surface deterioration that combined with the rotation of money into safe-havens and the gains in place, I could conclude the easy money had been made and a rest was needed. <\/span>
\n Yesterday the Russell 2000 small caps closed at its lowest level in 3 weeks. Anyone looking for a local top has had their patience tested. I’m one of them. Oh well. The market operates on its own schedule. If that means I have to sit tight and wait for the next round of opportunities, so be it. Sometimes not being super aggressive is the best course of action. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Casey’s General Stores (CASY +0.25%) dropped 4% in after-hours trading after it reported Q3 EPS of 58 cents, well below consensus of 88 cents.<\/span>
\n Hyatt Hotels (H -0.66%) was upgraded to “Equalweight’ from ‘Underweight’ at Morgan Stanley with a price target of $53.<\/span>
\n Weatherford International PLC (WFT +1.90%) jumped 14% in pre-market trading after it tapped Halliburton CFO Mark McCollum to be CEO at Weatherford.<\/span>
\n DISH Network (DISH +0.08%) rallied nearly 5% in after-hours trading after it was announced that it will replace Linear Technology in the S&P 500 before the open on Monday, March 13.<\/span>
\n salesforce.com (CRM +0.34%) gained 2% in after-hours trading after it announced an artificial intelligence software pact with IBM.<\/span>
\n Extended Stay America (STAY -0.46%) fell over 2% in after-hours trading after it announced a secondary offering of 25 million paired shares.<\/span>
\n Hannon Armstrong Sustainable Infrastructure Capital (HASI +0.55%) slipped nearly 4% in after-hours trading after it announced a public offering of 3.0 million shares of common stock.<\/span>
\n First Republic Bank\/CA (FRC +0.10%) lost nearly 2% in after-hours trading after it announced a 2.0 million share common stock offering.<\/span>
\n La Jolla Pharmaceutical Co. (LJPC -4.05%) climbed nearly 4% in after-hours trading on signs of insider buying by Tang Capital Management.<\/span>
\n Pacira Pharmaceuticals (PCRX -3.96%) fell 5% in after-hours trading after it announced a $300 million offering of convertible senior notes due in 2022.<\/span>
\n MeetMe (MEET +5.41%) surged 20% in after-hours trading after it reported Q4 adjusted EPS of 19 cents, better than consensus of 17 cents, and then acquired If(we) for $60 million in cash.<\/span>
\n Pier 1 Imports (PIR -3.62%) jumped 5% in after-hours trading after it reported preliminary Q4 adjusted EPS of 32 cents-34 cents, above consensus of 31 cents.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 International Trade
\n 8:30 Gallup US ECI
\n 8:55 Redbook Chain Store Sales
\n 1:00 PM Results of $24B, 3-Year Note Auction
\n 3:00 PM Consumer Credit<\/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 Tuesday. The Asian\/Pacific markets closed with a lean to the upside, but movement was minimal. Hong Kong, South Korea and Taiwan led to the upside; there were no other notable movers. Europe is currently mixed and little changed. Russia and Hungary are down more than 1%; Poland is also weak. Futures in […]<\/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\/10270"}],"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=10270"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10270\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}