{"id":10483,"date":"2017-06-13T07:50:39","date_gmt":"2017-06-13T12:50:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10483"},"modified":"2017-06-13T07:50:39","modified_gmt":"2017-06-13T12:50:39","slug":"before-the-open-jun-13-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10483","title":{"rendered":"Before the Open (Jun 13)"},"content":{"rendered":"

Good morning. Happy Tuesday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Australia rallied more than 1%; China, Hong Kong and South Korea also did well. Europe<\/strong> is currently mostly up. Greece is up more than 1%; Denmark, Finland, Switzerland, Hungary, Spain, Italy and Sweden are also doing well. Russia, Norway 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>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is down. Oil and copper are down. Gold and silver are down. Bonds are flat. <\/span>
\n Yesterday big-cap tech stocks gapped down, pushed lower for 30 minutes and then climbed back to their opening levels. Some closed up a little; others closed down. In virtually all cases the closes we well off the lows. Today many of those stocks will gap up, lending further evidence a bottom is in place, and Friday’s big selling pressure was just a short-term event. <\/span>
\n Tomorrow is Fed day. There isn’t a clear consensus on what the Fed will do. I think they should raise. They tend to do what they want and then look for reasons to support their actions (or inactions). <\/span>
\n The market’s overall trend remains solidly up. The long side is the only side to be on. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Western Digital (WDC +0.73%) was initiated with a ‘Buy’ rating at Aegis Capital with a 12-month target price of $130.<\/span>
\n Everest Re Group Ltd (RE +1.00%) will replace Mead Johnson Nutrition (MJN) in the S&P 500 before the open of trading on Monday, June 19.<\/span>
\n Athenahealth (ATHN +0.76%) was downgraded to ‘Neutral’ from ‘Overweight’ at Cantor Fitzgerald.<\/span>
\n Science Applications International (SAIC +5.70%) sank 11% in after-hours trading after it reported Q1 revenue of $1.10 billion, below consensus of $1.12 billion.<\/span>
\n Armada Hoffler Properties (AHH +0.97%) rallied over 3% in after-hours trading after it was announced that it would replace Pinnacle Financial in the S&P SmallCap 600 before the open of trading on Monday, June 19.<\/span>
\n Seagate (STX -1.96%) was initiated with a ‘Buy’ rating at Aegis Capital with a 12-month target price of $50.<\/span>
\n Merck & Co (MRK unch) lost 1% in after-hours trading after it said it would halt new enrollment for its trials of Keytruda with combination with other therapies in multiple myeloma to study reports of deaths in the Keytruda groups.<\/span>
\n Clovis Oncology (CLVS -0.56%) was initiated with an “Outperform’ rating at Leerink Partners LLC with a 12-month target price of $85.<\/span>
\n Synaptics (SYNA -1.46%) dropped 2% in after-hours trading after it narrowed its Q4 revenue forecast to $420 million-$430 million from an April 27 estimate of $410 million-$450 million, below consensus of $432.3 million.<\/span>
\n Acceleron Pharma (XLRN -2.79%) dropped over 5% in after-hours trading after it said the Phase 2 study of its dalantercept plus axitinib did not achieve its primary endpoint in advanced renal cell carcinoma.<\/span>
\n First Industrial Realty Trust (FR +1.14%) lost almost 2% in after-hours trading after it announced that it had commenced an underwritten public offering of 2.56 million shares of its common stock.<\/span>
\n GTx (GTXI +99.03%) climbed over 5% in after-hours trading after it had already doubled during Monday’s regular trading session when it reported each of 7 women enrolled in a Phase 2 study oy its enobosarm for stress urinary incontinence showed a clinically significant reduction in incontinence episodes per day,<\/span>
\n Cleantech Solutions International (CLNT -2.80%) surged 17% in after-hours trading after it announced that it had entered into an exclusive discussion with ECrent Capital Holdings Limited to focus on developing and operating of a global rental platform to promote sharing economy across 30 countries.<\/span>
\n Today’s Economic Calendar<\/strong>
\n FOMC meeting begins
\n 6:00 NFIB Small Business Optimism Index
\n 8:30 Producer Price Index
\n 8:55 Redbook Chain Store Sales
\n 1:00 PM Results of $12B, 30-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 mostly up. Australia rallied more than 1%; China, Hong Kong and South Korea also did well. Europe is currently mostly up. Greece is up more than 1%; Denmark, Finland, Switzerland, Hungary, Spain, Italy and Sweden are also doing well. Russia, Norway 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\/10483"}],"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=10483"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10483\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}