{"id":10294,"date":"2017-03-10T08:42:07","date_gmt":"2017-03-10T13:42:07","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10294"},"modified":"2017-03-10T08:42:07","modified_gmt":"2017-03-10T13:42:07","slug":"before-the-open-mar-10-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10294","title":{"rendered":"Before the Open (Mar 10)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Japan rallied more than 1%; Singapore, Australia and New Zealand also did well. Europe<\/strong> is currently up across-the-board. The Netherlands, Poland, Italy and Norway are up more than 1%; the UK, Germany, France, Austria, Belgium, Russia, Turkey, Denmark and Sweden are also doing well. Futures in the States<\/strong> point towards a moderate gap up open for the cash market (prior to the jobs report). <\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a>
\n—————<\/span>
\n The dollar is up slightly. Oil and copper are up. Gold and silver are down. Bonds are down. <\/span>
\n Here are the employment numbers:<\/span>
\n unemployment rate: 4.8% (was 4.7% last month)
\n nonfarm payrolls: +235K
\n private payrolls:
\n average workweek: unchanged at 34.3 hours
\n hourly wages: up 0.2% to $26.09\/hour
\n labor participation rate:<\/span><\/span><\/span><\/span><\/span><\/span>
\n January job gain raised from 227K to 238K.
\n December job gain lowered from 157K to 155K.<\/span><\/span>
\n On the news, index futures added to their premarket gains. The dollar dropped; gold rallied. <\/span>
\n These are strong numbers, and raising rates is no longer a catch-22. In the past strong numbers increased the odds rates would be raised, something Wall Street didn’t want. There was active discussion surround the desire for a weaker economy and lower rates or a stronger economy and higher rates. Lower rates were cheered, but not now. Rates are moving up, so Wall Street cheers a strong jobs report. <\/span>
\n Long term I like the market. Short term I’m not very enthused. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Yum! Brands (YUM -0.42%) was upgraded to ‘Outperform’ from ‘In-Line’ at Evercore ISI.<\/span>
\n FedEx (FDX -0.83%) was upgraded to ‘Buy’ from ‘Hold’ at Edward Jones.<\/span>
\n VeriFone Systems (PAY +0.59%) rose 2% in after-hours trading after it reported Q1 adjusted net revenue of $457 million, higher than consensus of $450 million, and said it sees Q2 adjusted net revenue of $470 million-$474 million, above the mid-point of consensus of $470.7 million.<\/span>
\n Ulta Beauty (ULTA -0.62%) declined 4% in after-hours trading after it said it sees Q1 net sales of $1.24 billion-$1.27 billion, below consensus of $1.28 billion.<\/span>
\n Finisar (FNSR +1.60%) plunged 20% in after-hours trading after it reported Q3 adjusted EPS of 59 cents, below consensus of 62 cents, and said it sees Q4 adjusted EPS of 50 cents-56 cents, weaker than consensus of 58 cents.<\/span>
\n Zumiez (ZUMZ -1.18%) sank over 10% in after-hours trading after it said it sees Q1 revenue of $178 million-$182 million, below consensus of $186 million.<\/span>
\n Alere (ALR +0.42%) fell nearly 4% in after-hours trading after a U.S. District Judge rejected the company’s request for a temporary reversal of the Department of Health and Human Service’s decision to cancel the Alere’s ability to bill the government-run insurance program.<\/span>
\n El Pollo Loco Holdings (LOCO -3.81%) dropped 4% in after-hours trading after it said it sees fiscal proforma EPS of 65 cents-69 cents, below consensus of 70 cents.<\/span>
\n Alexandria Real Estate Equities (ARE -1.72%) lost 3% in after-hours trading after it announced a public offering of 6.1 million shares of common stock.<\/span>
\n Surgery Partners (SGRY -0.24%) tumbled 14% in after-hours trading after it said it sees 2017 Ebitda up 10%-15% y\/y, weaker than consensus of up 23% y\/y.<\/span>
\n Autobytel (ABTL -2.03%) rose over 3% in after-hours trading after it reported Q4 adjusted EPS of 35 cents, above consensus of 30 cents.<\/span>
\n Cara Therapeutics (CARA +0.46%) fell nearly 6% in after-hours trading after it reported a Q4 loss per share of -81 cents, a wider loss than consensus of -48 cents.<\/span>
\n Freshpet (FRPT +3.68%) slipped 1% in after-hours trading after it said it will increase its investment in media this year, which is expected to lower 2017 adjusted Ebitda by 10%.<\/span>
\n Ooma (OOMA -8.16%) lost 1% in after-hours trading after it announced a secondary offering of 2.86 million shares.<\/span>
\n Codexis (CDXS +9.52%) rose over 6% in after-hours trading after it said it sees 2017 revenue of $50 million-$53 million, better than consensus of $46.3 million.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Non-farm payrolls
\n 1:00 PM Baker-Hughes Rig Count
\n 2:00 PM Treasury Budget<\/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 Friday. Happy Employment Numbers Day. The Asian\/Pacific markets closed mostly up. Japan rallied more than 1%; Singapore, Australia and New Zealand also did well. Europe is currently up across-the-board. The Netherlands, Poland, Italy and Norway are up more than 1%; the UK, Germany, France, Austria, Belgium, Russia, Turkey, Denmark and Sweden are […]<\/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\/10294"}],"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=10294"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10294\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}