{"id":10452,"date":"2017-05-23T07:49:18","date_gmt":"2017-05-23T12:49:18","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10452"},"modified":"2017-05-23T07:49:18","modified_gmt":"2017-05-23T12:49:18","slug":"before-the-open-may-23-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10452","title":{"rendered":"Before the Open (May 23)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. China, India, New Zealand and Malaysia were weak; Hong Kong and South Korea did well. Europe<\/strong> is currently mostly up. France, Turkey, Germany, Finland, Russia, Spain, Italy, Belgium, Portugal and Sweden are doing well; Poland and the Czech Republic are weak. Futures in the States<\/strong> point towards a positive open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a>
\n—————<\/span>
\n The dollar is up a small amount. Oil is flat; copper is down. Gold and silver are down. Bonds are up. <\/span>
\n The market moved up yesterday, and the market’s breadth improved – exactly what the bulls wanted to see. <\/span>
\n But other than the Nas and Nas 100, the indexes remain range bound, and after three straight up days on declining volume, the bulls will slightly hesitate to chase here. <\/span>
\n Not much has changed. Don’t over-analyze. Don’t zoom in too close and try to find meaning in the little wiggles. The market is resting within a strong and healthy uptrend, and there are no major signs the intermediate term trend is going to change soon. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n McKesson (MCK +1.58%) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan Chase with a price target of $189.<\/span>
\n AutoZone (AZO -2.10%) is indicated to open 6% lower this morning after it reported Q3 EPS of $11.44, below consensus of $11.99 as Q3 comparable sales fell -0.8%, weaker than expectations of a +2.4% increase.<\/span>
\n Perrigo Co. PLC (PRGO +0.81%) fell 5% in pre-market trading after it reported Q4 adjusted EPS of $1.24, weaker than expectations of $1.81, and then said it sees 2017 adjusted EPS of $4.15 to $4.50, below consensus of $4.55.<\/span>
\n Nordson (NDSN +1.36%) reported Q2 adjusted EPS of $1.35, higher than consensus of $1.31, and said it sees Q3 adjusted EPS of $1.57-$1.71.<\/span>
\n Hyatt Hotels (H +0.65%) announced a secondary offering of 4 million shares of Class A stock by investment funds associated with Goldman Sachs.<\/span>
\n Valero Energy (VLO -0.05%) was initiated with an ‘Overweight’ at U.S. Capital Advisors with a 12-month target price of $73.<\/span>
\n Take-Two Interactive Software (TTWO +2.16%) slumped 10% in after-hours trading when it said it will delay the release of its ‘Red Dead Redemption 2’ on PlayStation 4 and Xbox One until the spring of 2018, later than the fall of 2017 that it previously planned.<\/span>
\n Agilent Technologies (A -0.09%) rose nearly 4% in after-hours trading after it reported Q2 adjusted EPS of 58 cents, better than consensus of 48 cents, and then said it sees full-year adjusted EPS of $2.15 to $2.21, the midpoint above consensus of $2.16.<\/span>
\n Mindbody (MB unch) announced that it had commenced an underwritten registered public offering of 4.4 million shares of its Class A common stock.<\/span>
\n Camping World Holdings (CWH -1.19%) slid almost 3% in after-hours trading after it announced a proposed offering of 10 million shares of Class A common stock which includes 3.5 million shares offered by Camping World and 6.5 million shares offered by Crestview Advisors LLC.<\/span>
\n GlycoMimetics (GLYC -13.71%) dropped over 5% in after-hours trading after it announced that it intends to sell 6.0 million shares of its common stock in an underwritten public offering.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:55 Redbook Chain Store Sales
\n 9:45 PMI Composite Flash
\n 10:00 New Home Sales
\n 10:00 Richmond Fed Mfg.
\n 1:00 PM Results of $26B, 2-Year Note Auction<\/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 downside. China, India, New Zealand and Malaysia were weak; Hong Kong and South Korea did well. Europe is currently mostly up. France, Turkey, Germany, Finland, Russia, Spain, Italy, Belgium, Portugal and Sweden are doing well; Poland and the Czech Republic are weak. […]<\/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\/10452"}],"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=10452"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10452\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}