{"id":10454,"date":"2017-05-24T07:48:04","date_gmt":"2017-05-24T12:48:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10454"},"modified":"2017-05-24T07:48:04","modified_gmt":"2017-05-24T12:48:04","slug":"before-the-open-may-24-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10454","title":{"rendered":"Before the Open (May 24)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets were mixed and quiet. Japan and New Zealand posted gains; India and Indonesia posted losses. Europe<\/strong> is currently mixed, but there are a couple big movers. Turkey is up; Greece, Russia and Hungary are down more than 1%. Futures in the States<\/strong> point towards a slight up open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>The Trend is Your Friend<\/a>
\n—————<\/span>
\n The dollar is flat. Oil is flat; copper is down. Gold and silver are down. Bonds are up. <\/span>
\n So far the market has posted decent gains this week, but for what it’s worth, volume is falling off. The Nas and Nas 100 remain in uptrends; the other indexes remain in consolidation mode, having not changed much going back several months. <\/span>
\n FOMC minutes get released today. They could move prices if the Fed sounds more hawkish of dovish than currently believed. Expectations right now are for a raise at next months Fed meeting. I’m not completely convinced. <\/span>
\n Volume is already light this week, and it’s going to get lighter with a 3-day weekend ahead. <\/span>
\n Bias remains up. No reason to change. If you look hard enough you can find reasons to question the trend, but that’s not wise. More money is lost over the years by not riding the trends than from losses themselves. We’re in a secular bull market. There will be disruptions, but the trend will last many more years. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Accenture (ACN -0.46%) was downgraded to ‘Hold’ from ‘Buy’ at SunTrust Robinson Humphrey.<\/span>
\n Signet (SIG -2.33%) was downgraded to ‘Neutral’ from ‘Buy’ at Buckingham Research Group.<\/span>
\n Hasbro (HAS -0.28%) was initiated with a ‘Buy’ at D.A. Davidson with a 12-month target price of $118.<\/span>
\n Intuit (INTU +1.56%) climbed 7% in after-hours trading after it reported Q3 adjusted EPS of $3.90, better than consensus of $3.87, and then said it sees full-year adjusted EPS of $4.38-$4.40, above consensus of $4.34.<\/span>
\n ViaSat (VSAT -1.90%) rallied 5% in after-hours trading after it reported Q4adjusted EPS of 32 cents, higher than consensus of 28 cents.<\/span>
\n Achaogen (AKAO +3.57%) lost almost 3% in after-hours trading after it announced the commencement of an underwritten public offering of 5.0 million shares of its common stock.<\/span>
\n Neurocrine Biosciences (NBIX -0.21%) dropped 7% in after-hours trading after it said its Pediatric Tourette study did not meet the primary endpoint in a Phase II study.<\/span>
\n Alnylam Pharmaceuticals (ALNY +1.27%) lost almost 2% in after-hours trading after it announced the commencement of an underwritten public offering of 5.0 million shares of its common stock.<\/span>
\n ImmunoGen (IMGN -3.49%) rose nearly 4% in after-hours trading after it sold its IMGN529\/DEBIO 1562 cancer drug for the treatment of patients with B-cell malignancies to Debiopharm International for $25 million.<\/span>
\n Syndax Pharmaceuticals (SNDX +0.41%) dropped 5% in after-hours trading after it announced that it plans to sell $50 million of its common stock in an underwritten public offering.<\/span>
\n Aegean Marine Petroleum Network (ANW -1.87%) plunged nearly 20% in after-hours trading after it reported Q1 EPS of 3 cents, well below consensus of 36 cents.<\/span>
\n Ooma (OOMA +0.43%) sank over 10% in after-hours trading after it reported Q1 total revenue of $27.6 million, less than consensus of $28.1 million, and then lowered guidance on total year revenue to $113 million-$116 million from a March 7 view of $121 million-$124 million.<\/span>
\n Tilly’s (TLYS -1.38%) surged 14% in after-hours trading after it reported Q1 net sales of $120.9 million, above consensus of $114.33 million, and then said it sees Q2 EPS of 3 cents-7 cents, better than consensus of 2 cents.<\/span>
\n Scorpio Tankers (STNG +0.96%) dropped over 6% in after-hours trading after it announced an underwritten public offering of $200 million of its common stock.<\/span>
\n The Container Store Group (TCS -0.95%) soared over 38% in after-hours trading after it reported Q4 net sales of $221.04 million, better than consensus of $213 million, and said it sees full-year EPS of 25 cents-35 cents, above consensus of 24 cents.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 9:00 FHFA House Price Index
\n 10:00 Existing Home Sales
\n 10:30 EIA Petroleum Inventories
\n 11:30 Results of $13B, 2-Year FRN Auction
\n 1:00 PM Results of $34B, 5-Year Note Auction
\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 were mixed and quiet. Japan and New Zealand posted gains; India and Indonesia posted losses. Europe is currently mixed, but there are a couple big movers. Turkey is up; Greece, Russia and Hungary are down more than 1%. Futures in the States point towards a slight up open […]<\/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\/10454"}],"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=10454"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10454\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}