{"id":10434,"date":"2017-05-11T07:56:56","date_gmt":"2017-05-11T12:56:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10434"},"modified":"2017-05-11T07:56:56","modified_gmt":"2017-05-11T12:56:56","slug":"before-the-open-may-11-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10434","title":{"rendered":"Before the Open (May 11)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. South Korea, New Zealand, Malaysia and Singapore did well; Indonesia was weak. Europe<\/strong> currently leans to the downside. France, Spain, Belgium, Portugal and Sweden are weak; Greece is doing well. Futures in the States<\/strong> point towards a moderate gap down open for the cash market. <\/span>
\n—————
\n My <\/strong>podcast<\/a> – with Chat With Traders<\/strong>
\n—————<\/span>
\n The dollar is up. Oil and copper are up. Gold and silver are up. Bonds are up. <\/span>
\n Nothing has changed with the overall market this week. The Nas continues to trend up; all the other indexes remain in their ranges, which are now 2-1\/2 – 5 months in duration. I call them consolidation patterns within uptrends. They’re normal. They’re healthy. The market does this more than it moves directionally. Embrace them. Don’t let them frustrate you. <\/span>
\n Bias remains to the upside – no reason to change this. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Snap (SNAP -1.46%) sank over 20% in pre-market trading after it reported Q1 revenue of $149.6 million, below consensus of $158.6 million.<\/span>
\n O’Reilly Automotive (ORLY +0.68%) gained 1% in after-hours trading after it said it added $1 billion to its share buyback program for a total of $8.75 billion.<\/span>
\n Symantec (SYMC +2.38%) dropped 7% in in after-hours trading after it said it sees Q1 adjusted EPS of 28 cents-32 cents, weaker than consensus of 38 cents, and then said it sees full-year adjusted revenue of $5.10 billion-$5.20 billion, below consensus of $5.21 billion.<\/span>
\n Merck & Co (MRK +1.03%) rose 3% in after-hours trading after it won FDA approval for using its Keytruda drug and chemotherapy for treatment of metastatic non-squamous non-small cell lung cancer.<\/span>
\n Twenty-First Century Fox (FOXA -1.17%) fell 2% in after-hours trading after it reported Q3 revenue of $7.56 billion, less than consensus of $7.64 billion.<\/span>
\n Bright Horizons Family Solutions (BFAM -0.19%) lost 1% in after-hours trading after it announced a secondary offering of 4.15 million shares of common stock by selling shareholders.<\/span>
\n Pegasystems (PEGA +3.15%) jumped 9% in after-hours trading after it reported Q1 adjusted EPS of 39 cents, well above consensus of 23 cents.<\/span>
\n Intrexon (XON +0.62%) climbed over 4% in after-hours trading after it reported Q1 revenue of $53.7 million, higher than consensus of $49.1 million.<\/span>
\n Aviat Networks ({=AVNW =}) plunged over 25% in after-hours trading after it reported Q3 revenue of $58.7 million, down -2.9% y\/y.<\/span>
\n U.S. Steel (X +0.87%) gained 1% in after-hours trading after CEO Mario Longhi stepped down and COO David Burritt replaced him.<\/span>
\n Omeros (OMER +0.62%) lost almost 2% in after-hours trading after it reported Q1 revenue of $12.3 million, weaker than consensus of $13.3 million.<\/span>
\n Arbor Realty Trust (ABR +0.46%) slid over 5% in after-hours trading after it announced plans to make a public offering of 9.5 million shares of its common stock.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n 21st Century Fox (NASDAQ:FOX) -1.7% AH facing new inquiries.
\n MannKind (NASDAQ:MNKD) -20.6% AH as earnings disappoint.
\n Mylan (NASDAQ:MYL) +0.5% with sales taking a hit.
\n Snap (NYSE:SNAP) -23% AH as user growth fell short.
\n Sodastream (NASDAQ:SODA) -6.7% on light guidance.
\n Toyota (NYSE:TM) -2.5% seeing a profit drop.
\n Whole Foods (NASDAQ:WFM) +2.7% AH shaking up its board.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Initial Jobless Claims
\n 8:30 Producer Price Index
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:30 EIA Natural Gas Inventory
\n 1:00 PM Results of $15B, 30-Year Note Auction
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/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 Thursday. The Asian\/Pacific markets closed mostly up. South Korea, New Zealand, Malaysia and Singapore did well; Indonesia was weak. Europe currently leans to the downside. France, Spain, Belgium, Portugal and Sweden are weak; Greece is doing well. Futures in the States point towards a moderate gap 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\/10434"}],"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=10434"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10434\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}