{"id":10496,"date":"2017-06-21T07:50:39","date_gmt":"2017-06-21T12:50:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10496"},"modified":"2017-06-21T07:50:39","modified_gmt":"2017-06-21T12:50:39","slug":"before-the-open-jun-21-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10496","title":{"rendered":"Before the Open (Jun 21)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. China and Indonesia posted gains; Japan, Hong Kong, South Korea, New Zealand, Australia and Singapore were weak. Europe<\/strong> is currently mostly down. The UK, France, Germany, Greece, Finland, Russia, Switzerland, Norway and Belgium are down the most. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are mixed and little changed. Bonds are down. <\/span>
\n The next couple days are important. Many big-cap tech stocks failed to bounce and move to high highs, and now they’re sitting pretty close to support levels. We either get a forceful bounce here…a break of support and leg down…or a break of support which traps the bears and then a rally. In any case, a trending move may start soon. It all depends on how certain tech stocks move in the near term. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Marathon Oil (MRO -3.44%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Morgan Stanley.<\/span>
\n PayPal (PYPL -0.77%) rose almost 1% in pre-market trading after it was upgraded to ‘Overweight’ from ‘Sector-Weight’ at Pacific Crest Securities<\/span>
\n FedEx (FDX -0.95%) gained almost 2% in after-hours trading after it reported Q4 adjusted EPS of $4.25, higher than consensus of $3.88.<\/span>
\n Adobe Systems (ADBE +0.40%) climbed over 3% in pre-market trading after it reported Q2 adjusted EPS of $1.02, better than expectations of 95 cents.<\/span>
\n Red Hat (RHT -0.43%) rallied 11% in pre-market trading after it reported Q1 revenue of $677 million, above consensus of $648 million, and then raised guidance on full-year revenue to $2.79 billion-$2.83 billion from a prior view of $2.72 billion-$2.76 billion.<\/span>
\n Delphi Automotive PLC (DLPH -2.52%) was rated a new ‘Buy’ at Guggenheim with a price target of $104.<\/span>
\n Xylem (XYL -0.54%) was initiated with an ‘Outperfom’ rating at BMO Capital Markets with as 12-month target price of $60.<\/span>
\n Goodyear Tire & Rubber (GT -1.34%) was rated a new ‘Buy’ at Guggenheim with a price target of $39.<\/span>
\n Korn\/Ferry International (KFY -0.27%) rose 2% in after-hours trading after it reported Q4 adjusted EPS of 62 cents, better than consensus of 60 cents.<\/span>
\n Teladoc (TDOC -8.80%) slipped nearly 3% in after-hours trading after it announced a proposed offering of $200 million of convertible senior notes due 2022.<\/span>
\n Novo Nordisk A\/S (NVO -1.17%) gained almost 1% in after-hours trading after an FDA advisory panel backed Novo’s claim that its Victoza drug cuts heart risks in type 2 diabetics.<\/span>
\n La-Z-Boy (LZB -3.85%) jumped nearly 10% in after-hours trading after it reported Q4 EPS of 57 cents, well above consensus of 46 cents.<\/span>
\n Advanced Micro Devices (AMD +5.95%) gained almost 2% in after-hours trading after Microsoft and Baidu said they have committed to using AMD’s new Epyc server chip in their data centers.<\/span>
\n Sangamo Therapeutics (SGMO +3.14%) dropped over 8% in after-hours trading after it announced that it had commenced an underwritten public offering of $60 million in shares of its common stock.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n Adobe (NASDAQ:ADBE) +4.3% AH accelerating its cloud push.
\n Fedex (NYSE:FDX) +1.9% AH following a profit smasher.<\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 10:00 Existing Home Sales
\n 10:30 EIA Petroleum Inventories<\/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 closed mostly down. China and Indonesia posted gains; Japan, Hong Kong, South Korea, New Zealand, Australia and Singapore were weak. Europe is currently mostly down. The UK, France, Germany, Greece, Finland, Russia, Switzerland, Norway and Belgium are down the most. Futures in the States point towards a down […]<\/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\/10496"}],"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=10496"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10496\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}