{"id":10809,"date":"2017-04-19T07:48:39","date_gmt":"2017-04-19T12:48:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=10809"},"modified":"2017-04-19T07:48:39","modified_gmt":"2017-04-19T12:48:39","slug":"before-the-open-apr-19-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=10809","title":{"rendered":"Before the Open (Apr 19)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. China, Hong Kong, South Korea, Taiwan and Australia were weak. Europe<\/strong> currently leans to the upside but is little changed. Poland, Denmark, Greece, Italy, Spain and the Netherlands are up the most. Norway is weak. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\n—————
\n VIDEO: <\/strong>LeavittBrothers.net Overview<\/a>
\n—————<\/span>
\n The dollar is up. Oil is flat; copper is up. Gold and silver are down. Bonds are down. <\/span>
\n I have the next 1-2 days marked as semi important. We entered this week looking for a local bottom and got a big move up on Monday, but some of those gains were given back yesterday. The bulls need some follow through on Monday’s move, otherwise the S&P is likely to leg down and try to find support near 2300. <\/span>
\n When a few indicators say “bounc,” there’s a small window it needs to happen, otherwise it’s back to the beginning and looking for a bounce at a later date or at a lower level. This is where we are. Bounce or back up and wait for the next opportunity. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Morgan Stanley (MS -0.67%) jumped 4% in pre-market trading after it reported Q1 revenue of $9.75 billion, higher than consensus of $9.29 billion.<\/span>
\n Fastenal (FAST -3.36%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a target price of $52.<\/span>
\n Lam Research (LRCX +0.08%) gained almost 4% in after-hours trading after it reported Q3 adjusted EPS of $2.80, higher than consensus of $2.57.<\/span>
\n Intuitive Surgical (ISRG -1.16%) rallied over 3% in after-hours trading after it reported Q1 adjusted EPS of $5.09, better than consensus of $4.95.<\/span>
\n Bank of America (BAC -0.44%) was upgraded to ‘Strong Buy’ from ‘Market Outperform’ at Vining Sparks with a price target of $28.<\/span>
\n Eli Lilly (LLY -1.43%) was downgraded to ‘Underperform’ from ‘Market Perform’ at BMO Capital Markets.<\/span>
\n International Business Machines (IBM -0.61%) dropped 4% in after-hours trading after it reported Q1 revenue of $18.2 billion, below consensus of $18.4 billion and the 20th straight quarterly revenue decline.<\/span>
\n Allstate (ALL -1.46%) was downgraded to ‘Neutral’ from ‘Outperform’ at Macquarie Research.<\/span>
\n ICU Medical (ICUI -0.68%) fell over 2% in after-hours trading after it received a grand jury subpoena in connection with the Hospira Infusion Systems business it acquired from Pfizer in February.<\/span>
\n LegacyTexas Financial Group (LTXB -0.13%) sold-off nearly 7% in after-hours trading after it reported Q1 core EPS of 37 cents, well below consensus of 58 cents.<\/span>
\n Ultragenyx Pharmaceutical (RARE -2.23%) surged nearly 20% in after-hours trading after its Burosumab drug met the primary endpoint and demonstrated a statistically significant improvement is serum phosphorous levels in a Phase 3 study in adults with X-linked hypophosphatemia.<\/span>
\n Interactive Brokers Group (IBKR +0.84%) lost nearly 3% in after-hours trading after it reported Q1 net revenue of $374 million, below consensus of $393.4 million.<\/span>
\n CalAmp (CAMP -0.93%) climbed nearly 3% in after-hours trading after it reported Q4 adjusted EPS of 28 cents, above consensus of 27 cents.<\/span>
\n Diana Shipping (DSX -8.59%) dropped 7% in after-hours trading after it announced that it had commenced an underwritten public offering of $70 million of common shares.<\/span>
\n Nivalis Therapeutics (NVLS -4.69%) surged over 25% in after-hours trading after it announced a merger agreement with Alpine Immune Sciences with Alpine becoming a wholly-owned subsidiary of Nivalis.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n BofA (NYSE:BAC) -0.4% despite a surge in trading revenue.
\n Goldman Sachs (NYSE:GS) -4.7% missing estimates.
\n IBM (NYSE:IBM) -4.4% AH as revenue dropped again.
\n J&J (NYSE:JNJ) -3.1% posting sluggish sales.
\n UnitedHealth (NYSE:UNH) +0.8% topping expectations.
\n Yahoo (NASDAQ:YHOO) +0.4% AH with beat ahead of VZ merger.<\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 10:30 EIA Petroleum Inventories
\n 12:30 PM Fed’s Rosengren speech
\n 2:00 PM Fed’s Beige Book<\/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 mostly down. China, Hong Kong, South Korea, Taiwan and Australia were weak. Europe currently leans to the upside but is little changed. Poland, Denmark, Greece, Italy, Spain and the Netherlands are up the most. Norway is weak. Futures in the States point towards a moderate gap up […]<\/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\/10809"}],"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=10809"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/10809\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}