{"id":11669,"date":"2018-04-16T07:49:44","date_gmt":"2018-04-16T12:49:44","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=11669"},"modified":"2018-04-16T07:49:44","modified_gmt":"2018-04-16T12:49:44","slug":"before-the-open-apr-16-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=11669","title":{"rendered":"Before the Open (Apr 16)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets leaned to the downside. China and Hong Kong dropped more than 1%; Japan and India posted gains. Europe, Africa and the Middle East<\/strong> currently lean to the upside. Turkey and Greece are up more than 1%; Denmark, Austria and Saudi Arabia are also doing well. Kenya and Norway are weak. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\nThe dollar is down. Bitcoin is down. Oil is down; copper is up. Gold and silver are flat. Bonds are down. <\/span>
\n Here’s an update of the S&P weekly I’ve been posting. The index remains above its 50-week MA. <\/span>
\n\"\"
\n Stock headlines<\/strong> from barchart.com…<\/span>
\n Costco (COST +0.05%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities with a price target of $220.<\/span>
\n Occidental Petroleum (OXY +2.58%) was upgraded to ‘Overweight’ from ‘Neutral’ at Piper Jaffray with a price target of $86.<\/span>
\n Boston Beer (SAM -1.16%) was upgraded to ‘Neutral’ from ‘Sell’ at Goldman Sachs with a price target of $223.<\/span>
\n Tractor Supply (TSCO -3.12%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs with a price target of $72.<\/span>
\n Dean Foods (DF +1.47%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs with a price target of $8.<\/span>
\n Kraft Heinz (KHC -0.03%) was downgraded to ‘Underperform’ from ‘Outperform’ at Credit Suisse with a price target of $55.<\/span>
\n Temper Sealy International (TPX -0.29%) was downgraded to ‘Sell’ from ‘Hold’ at Loop Capital Markets with a price target of $36.<\/span>
\n Vornado Realty Trust (VNO +0.76%) said a $34.7 million expense from a new GAAP accounting standard, a $23.5 million expense to New York city property transfer taxes, a $14.5 million write off from issuance costs and $6.5 million from “other items” will reduce its Q1 FFO by 37 cents a share.<\/span>
\n Illumima (ILMN -0.27%) rise nearly 2% in after-hours trading after it announced a strategic collaboration with Bristol-Myers Squibb to develop and commercialize diagnostic measures to predict genomic biomarkers.<\/span>
\n VeriFone (PAY unch) was downgraded to ‘Hold’ from ‘Buy’ at Jeffries.<\/span>
\n Dynavax Technologies (DVAX -4.82%) jumped 15% in after-hours trading after an abstract for its SD-101 therapy combined with Merck’s Keytruda showed a “promising response rate” in patients with head and neck squamous cell carcinoma.<\/span>
\n General Electric (GE +2.35%) may open lower this morning after it an accounting rule change prompted it to restate 2017 revenue at $118.2 billion, lower than the previously reported $122.1 billion, and restate 2016 total revenue at $119.5 billion compared with the originally reported $123.7 billion.<\/span>
\n President Trump’s top economic adviser, Larry Kudlow, said after the markets closed Friday that he supports a currency policy for a steady dollar and he is optimistic the U.S. can avoid a trade fight with China.<\/span>
\n Thursday’s Key Earnings<\/strong>
\n BlackRock (NYSE:BLK) +1.5% after topping estimates.
\n Delta (NYSE:DAL) +2.9% increasing passenger traffic.
\n Rite Aid (NYSE:RAD) -0.6% following in-line earnings.<\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Retail Sales
\n 8:30 Empire State Mfg Survey
\n 10:00 NAHB Housing Market Index
\n 10:00 Business Inventories
\n 1:15 PM Fed’s Bostic Speech
\n 4:00 PM Treasury International Capital<\/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 Monday. Hope you had a good weekend. The Asian\/Pacific markets leaned to the downside. China and Hong Kong dropped more than 1%; Japan and India posted gains. Europe, Africa and the Middle East currently lean to the upside. Turkey and Greece are up more than 1%; Denmark, Austria and Saudi Arabia are […]<\/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\/11669"}],"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=11669"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/11669\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}