{"id":11817,"date":"2018-05-22T07:33:05","date_gmt":"2018-05-22T12:33:05","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=11817"},"modified":"2018-05-22T07:33:05","modified_gmt":"2018-05-22T12:33:05","slug":"before-the-open-may-22-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=11817","title":{"rendered":"Before the Open (May 22)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. South Korea, India and Indonesia did well; Taiwan, Australia, Malaysia and Thailand were weak. Europe, Africa and the Middle East<\/strong> are currently mostly up. Turkey, Germany, the UAE, Greece, South Africa, Spain, Italy, Austria and Saudi Arabia are up; Poland and Kenya are down. Futures in the States<\/strong> point towards a gap up open for the cash market. <\/span>
\n—————
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\n The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down. <\/span>
\n New highs broke out to their highest level since late-January. Another piece of evidence the market is in good shape. <\/span>
\n\"\"
\n Overnight Stock Movers<\/strong> from barchart.com…<\/span>
\n Kohl’s (KSS +2.83%) rallied nearly 5% in pre-market trading after it reported Q1 comparable same-store sales rose +3.6%, stronger than consensus of +2.7%, and then forecast full-year adjusted EPS of $5.05 to $5.50, the midpoint above consensus of $5.24.<\/span>
\n Macy’s (M +1.91%) was upgraded to ‘Positive’ from ‘Neutral’ at Susquehanna with a price target of $43.<\/span>
\n Ford Motor (F +1.59%) is up 1.6%, General Motors (GM +0.79%) is up nearly 1% and Fiat Chrysler (FCAU +2.20%) gained more than 2% in pre-market trading after China said it cut import tariffs on passenger vehicles to 15% from 25%.<\/span>
\n Universal Display (OLED +2.55%) was rated a new ‘Buy’ at Roth Capital Partners with price target of $136.<\/span>
\n Nordson (NDSN +3.45%) dropped nearly 6% in after-hours trading after it forecast Q3 EPS of $1.47 to $1.63, well below consensus of $1.91.<\/span>
\n 2U Inc (TWOU -0.16%) fell nearly 5% in after-hours trading after it announced that it had commenced a proposed public offering of up to $300 million of its common stock.<\/span>
\n Micron Technology (MU +3.91%) rose 4% in after-hours trading after it announced a $10 billion share repurchase authorization.<\/span>
\n Pure Storage (PSTG -0.38%) slid more than 7% in after-hours trading despite its forecast for Q2 revenue of $296 million to $304 million, the midpoint right on consensus of $299.2 million.<\/span>
\n Sailpoint Technologies Holding (SAIL -0.66%) dropped almost 9% in after-hours trading after a holder filed to sell 15 million shares.<\/span>
\n Lamb Weston (LW -0.07%) was rated a new ‘Sell’ at Vertical Group with a price target of $56.<\/span>
\n Hostess Brands (TWNK +1.18%) was rated a new ‘Buy’ a Vertical Group with a price target of $19.<\/span>
\n Melinta Therapeutics (MLNT -3.31%) fell more than 7% in after-hours trading after it announced that it had commenced a proposed public offering of up to $75 million of its common stock.<\/span>
\n Libbey (LBY -3.80%) slumped more than 25% in after-hours trading after suspended its dividend in an attempt to cut its debt and invest in strategic initiatives.<\/span>
\n Ardelyx (ARDX -2.59%) slid almost 4% in after-hours trading after it announced that it had commenced an underwritten public offering of up to $50 million of its common stock.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:55 Redbook Chain Store Sales
\n 10:00 Richmond Fed Mfg
\n 1:00 PM Results of $33B, 2-Year Note Auction<\/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 Tuesday. The Asian\/Pacific markets closed mixed. South Korea, India and Indonesia did well; Taiwan, Australia, Malaysia and Thailand were weak. Europe, Africa and the Middle East are currently mostly up. Turkey, Germany, the UAE, Greece, South Africa, Spain, Italy, Austria and Saudi Arabia are up; Poland and Kenya are down. Futures in […]<\/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\/11817"}],"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=11817"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/11817\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}