{"id":10456,"date":"2017-05-25T07:43:16","date_gmt":"2017-05-25T12:43:16","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10456"},"modified":"2017-05-25T07:43:16","modified_gmt":"2017-05-25T12:43:16","slug":"before-the-open-may-25-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10456","title":{"rendered":"Before the Open (May 25)"},"content":{"rendered":"

Good morning. Happy Thursday. <\/span>
\n The Asian\/Pacific<\/strong> markets posted some decent gains. China, Hong Kong, South Korea and India rallied more than 1%; Indonesia dropped. Europe<\/strong> is currently mixed and little changed. Poland, Norway and Austria are up; Turkey, Greece and Italy are down. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>Stop Looking for a Top<\/a>
\n—————<\/span>
\n The dollar is down. Oil and copper are down. Gold and silver are up. Bonds are up. <\/span>
\n The S&P closed about 5 points from its all-time high yesterday, and today, as of this writing, it’ll gap up about 5 at today’s open. <\/span>
\n Volume, the intraday ranges, the activity level – all have been falling off this week while price has moved up. <\/span>
\n The index is also in the midst of a 5-day win streak – it’s longest since early-February when the S&P broke out and rallied 100 points. <\/span>
\n The trend<\/a> remains up, and as I said in a video<\/a> sent out yesterday, it’s likely to remain up for many more months. <\/span>
\n Buy dips. Buy breakouts when appropriate. Stay on the long side. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Best Buy (BBY -2.19%) jumped 10% in pre-market trading after it reported Q1 adjusted EPS of 60 cents, well above consensus of 40 cents, as Q1 enterprise comparable sales unexpectedly rose +1.6%, better than expectations of a -1.5% decline.<\/span>
\n Chipotle Mexican Grill (CMB) was upgraded to ‘Buy’ from ‘Hold’ at Argus Research with a price target of $550.<\/span>
\n IHS Markit Ltd (INFO +0.34%) rose nearly 5% in after-hours trading when it was announced that it will replace Tegna in the S&P 500 before the open of trading on Friday, June 2.<\/span>
\n Independence Realty Trust (IRT +0.54%) climbed 4% in after-hours trading when it was announced that it will replace Ultratech in the S&P SmallCap 600 before the open of trading on Wednesday, May 30.<\/span>
\n PVH Corp (PVH -0.33%) rose 3% in after-hours trading after it reported Q1 adjusted EPS of $1.65, better than consensus of $1.60, and then said it sees full-year adjusted EPS of $7.40 to $7.50, above consensus of $6.76.<\/span>
\n Williams-Sonoma (WSM +1.10%) jumped 8% in after-hours trading after it reported Q1 adjusted EPS of 51 cents, above consensus of 49 cents, and said it sees Q2 revenue of $1.20 billion to $1.23 billion, higher than consensus of $1.19 billion.<\/span>
\n Live Nation (LYV -0.03%) was initiated with a ‘Buy’ at Guggenheim Securities with a 12-month target price of $40.<\/span>
\n Aerie Pharmaceuticals (AERI -0.74%) surge 25% in after-hours trading after it said it expects to submit an NDA for its Roclatan after it achieved primary efficacy endpoint in its Phase 3 “Mercury 2” study for treatment of patients with glaucoma and other eye diseases.<\/span>
\n Sun Communities (SUI +0.75%) lost almost 2% in after-hours trading after it announced that it had commenced an underwritten public offering of 3.5 million shares of its common stock.<\/span>
\n Radius Health (RDUS +0.57%) gained over 2% in after-hours trading after it announced positive results from a 24-month ActiveExtend study for its Tymlos in postmenopausal women with osteoporosis.<\/span>
\n Bank of the Ozarks (OZRK -1.90%) fell 5% in after-hours trading after it announced an underwritten registered public offering of 6.6 million shares of its common stock.<\/span>
\n Guess? (GES -0.80%) jumped over 13% in after-hours trading after it said Q1 Americas retail comparable sales including e-commerce fell -15%, a smaller decline than expectations of -16.5%, and then raised guidance on full-year adjusted EPS to 34 cents-44 cents from a prior view of 28 cents-40 cents.<\/span>
\n Pure Storage (PSTG -0.28%) rallied 15% in after-hours trading after it reported Q1 revenue of $182.6 million, higher than consensus of $175.9 million, and said it sees Q2 revenue of $214 million-$222 million, the midpoint well above consensus of $214.14 million.<\/span>
\n Costamare (CMRE -2.14%) dropped 9% in after-hours trading after it announced that it plans a public offering of 12.5 million shares of its common stock.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n HP (NYSE:HPQ) +3% AH beating estimates in FQ2.
\n Lowe’s (NYSE:LOW) -3% losing ground to Home Depot.<\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Initial Jobless Claims
\n 8:30 International trade in goods
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:30 EIA Natural Gas Inventory
\n 11:00 Kansas City Fed Mfg Survey
\n 1:00 PM Results of $28B, 7-Year Note Auction
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet
\n 10:00 PM Fed’s Bullard: U.S. Monetary and Economic Policy<\/span><\/span><\/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 posted some decent gains. China, Hong Kong, South Korea and India rallied more than 1%; Indonesia dropped. Europe is currently mixed and little changed. Poland, Norway and Austria are up; Turkey, Greece and Italy are down. Futures in the States point towards a moderate gap up open for […]<\/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\/10456"}],"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=10456"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10456\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}