{"id":10789,"date":"2017-09-22T07:44:19","date_gmt":"2017-09-22T12:44:19","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10789"},"modified":"2017-09-22T07:44:19","modified_gmt":"2017-09-22T12:44:19","slug":"before-the-open-sep-22-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10789","title":{"rendered":"Before the Open (Sep 22)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. Australia posted a gain, but Hong Kong, South Korea, India and Taiwan posted moderate losses. Europe, Africa and the Middle East<\/strong> are currently mostly quiet, but there are a few notable losers. Turkey, the UAE, Finland and Kuwait are down moderately; Greece is up. Futures in the States<\/strong> point to a gap down open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>My Favorite Intermediate Term Trading Setup<\/a>
\n—————<\/span>
\n The dollar is down. Oil and copper are down. Gold is up; silver is down slightly. Bonds are up. <\/span>
\n This week is among the weakest of the year. But despite this, the S&P and Dow hit new highs and are currently posting gains. Even if they were to drop and give the gains back, it’s still a pretty good showing. <\/span>
\n Overall the market is strong and healthy and trending up. In the near term cracks are starting to form, so we need to be more mindful of initiating positions. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n US Steel (X -4.38%) was downgraded to ‘Underperform’ from ‘Market Perform’ at Cowen with a price target of $20.<\/span>
\n Intercept Pharmaceuticals (ICPT -24.89%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo Securities.<\/span>
\n Cubic (CUB +1.30%) was upgraded to ‘Strong Buy’ from ‘Outperform’ at Raymond James with a price target of $60.<\/span>
\n McDonald’s (MCD -0.53%) boosted its quarterly dividend to $1.01 a share from 94 cents, better than consensus of 99 cents.<\/span>
\n Aecom (ACM -0.17%) announced that its board had authorized a new $1billion stock repurchase program.<\/span>
\n CommerceHub (CHUBA -0.26%) was initiated a ‘Buy’ at D.A. Davidson with a 12-month target price of $27.<\/span>
\n LivePerson (LPSN +0.37%) was initiated with a ‘Buy’ at Needham & Co with an 18-month target price of $16.<\/span>
\n Carvana (CVNA -4.43%) was initiated a ‘Sell’ at B Riley & Co with a 12-month target price of $12.<\/span>
\n Yelp (YELP -1.27%) was initiated with a ‘Buy’ at D.A. Davidson with an 18-month target price of $51.<\/span>
\n Texas Instruments (TXN +0.26%) gained almost 1% in after-hours trading after it raised its quarterly cash dividend to 62 cents a share from 50 cents, and said its board authorized an additional $6 billion in share buybacks.<\/span>
\n Aaron’s (AAN -0.99%) lost 1% in after-hours trading after it said it is “difficult” to predict when operations will be back to normal in its Florida stores due to the business interruptions from Hurricane Irma.<\/span>
\n Versartis (VSAR -1.14%) plummeted 80% in after-hours trading after its Phase 3 trial of somavaratan in pediatric growth hormone deficiency did not meet its primary endpoint of non-inferiority.<\/span>
\n Presidio (PSDO -0.43%) dropped nearly 7% in after-hours trading after it reported Q4 revenue of $729.3 million, below consensus of $736.6 million.<\/span>
\n Thursday’s Key Earnings<\/strong>
\n Presidio (NASDAQ:PSDO) -5.4% AH on Q4 revenue miss.<\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 6:00 Fed’s Williams Speech
\n 9:45 PMI Composite Flash
\n 10:00 Atlanta Fed’s Business Inflation Expectations
\n 1:00 PM Baker-Hughes Rig Count<\/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 Friday. The Asian\/Pacific markets closed with a lean to the downside. Australia posted a gain, but Hong Kong, South Korea, India and Taiwan posted moderate losses. Europe, Africa and the Middle East are currently mostly quiet, but there are a few notable losers. Turkey, the UAE, Finland and Kuwait are down moderately; […]<\/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\/10789"}],"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=10789"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10789\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}