{"id":10801,"date":"2017-09-27T07:49:22","date_gmt":"2017-09-27T12:49:22","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10801"},"modified":"2017-09-27T07:49:22","modified_gmt":"2017-09-27T12:49:22","slug":"before-the-open-sep-27-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10801","title":{"rendered":"Before the Open (Sep 27)"},"content":{"rendered":"

Good morning. Happy Wednesday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside. Hong Kong, New Zealand, Taiwan, Singapore and the Philippines did well; India dropped more than 1%; Japan was also weak. Europe, Africa and the Middle East<\/strong> currently lean to the upside. Hungary and Spain are up more than 1%; the UK, Germany, South Africa, Italy and Sweden are also doing well. Turkey is down 2%; Greece and Denmark are also weak. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\n—————
\n Podcast: <\/strong>with Chat With Traders<\/a>
\n—————<\/span>
\n The dollar is up. Oil and copper are up very small amounts. Gold and silver are down. Bonds are down. <\/span>
\n The indexes have not been on the same page lately. The small caps and mid caps have moved straight up while the S&P 500 and Dow have stalled and the Nas has moved down. It’s been weird watching the intraday action – Russell up, NDX down and SPX rolling in a range. <\/span>
\n The dollar will open today above its 50-day MA for the first time since April. I make no predictions on its future path…just noting the accomplishment. <\/span>
\n\"\"
\n My stance on the market remains the same. I like it and expect higher prices over the next few months. <\/span>
\n—————
\nJoin our email list<\/a> – get technical research reports sent directly to you.<\/strong>
\n—————<\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Amazon.com (AMZN -0.13%) was resumed wth an ‘Outperform’ at Wells Fargo Securities awith a price target of $1,400.<\/span>
\n Darden Restaurants (DRI -6.53%) was upgraded to ‘Outperform’ from ‘Neutral’ at Baird with a 12-month target price of $94.<\/span>
\n Six Flags Entertainment (SIX +0.43%) gained 3% in after-hours trading when it was announced that it will replace Parexel International in the S&P MidCap 400 prior to the open of trading on Monday, October 2.<\/span>
\n KEMET (KEM unch) rose 4% in after-hours trading when it was announced that it will replace Astoria Financial in the S&P SmallCap 600 prior to the open of trading on Monday, October 2.<\/span>
\n Nike (NKE +0.88%) fell 3% in after-hours trading after it reported Q1 revenue of $9.07 billion, below consensus of $9.09 billion, citing declining growth in North America.<\/span>
\n Micron Technology (MU -1.98%) rose over 2% in after-hours trading after it reported Q4 adjusted EPS of $2.02, stronger than consensus of $1.84, and then said it sees Q1 adjusted EPS of $2.09 to $2.33, above consensus of $1.84.<\/span>
\n Cintas (CTAS -0.56%) climbed almost 3% in after-hours trading after it reported Q1 revenue of $1.61 billion, higher than consensus of $1.57 billion, and then said it sees full-year revenue of $6.33 billion-$6.40 billion, the midpoint above consensus of $6.33 billion.<\/span>
\n Ascendis Pharma A\/S (ASND +2.68%) dropped 4% in after-hours trading after it announced that it had commenced an underwritten public offering of $125 million of American Depository Shares, each of which represents one ordinary share of Ascendis.<\/span>
\n Westlake Chemical Partners LP (WLKP +0.63%) slid 8% in after-hours trading after 4.5 common units were offered after the close of trading via UBS, Citi, Barclays and Bank of America\/Merrill Lynch that were a 6.64% to 8.71% discount to Tuesday’s closing price of $24.10.<\/span>
\n Editas Medicine (EDIT -3.93%) rose 3% in after-hours trading after its EDIT-101 drug to treat Congenital Amaurosis type 10 received orphan medicinal product designation from the European Medicines Agency.<\/span>
\n Intra-Cellular Therapies (ITCI -2.88%) dropped 7% in after-hours trading after it announced that it had commenced an underwritten public offering of $150 million in shares of its common stock.<\/span>
\n Twitter (TWTR -2.30%) gained almost 2% in after-hours trading after it said it will test a new 280-character limit on tweets.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n Micron (NASDAQ:MU) +4.8% AH on strong memory performance.
\n Nike (NKE) -3.6% AH with waning demand in N.America.<\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:30 Durable Goods
\n 10:00 Pending 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 1:30 PM Fed’s Bullard: U.S. Monetary and Economic Policy
\n 7:00 PM Fed’s Rosengren speech<\/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 Wednesday. The Asian\/Pacific markets closed with a lean to the upside. Hong Kong, New Zealand, Taiwan, Singapore and the Philippines did well; India dropped more than 1%; Japan was also weak. Europe, Africa and the Middle East currently lean to the upside. Hungary and Spain are up more than 1%; the UK, […]<\/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\/10801"}],"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=10801"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10801\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}