{"id":11859,"date":"2018-06-01T07:51:13","date_gmt":"2018-06-01T12:51:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=11859"},"modified":"2018-06-01T07:51:13","modified_gmt":"2018-06-01T12:51:13","slug":"before-the-open-jun-1-7","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=11859","title":{"rendered":"Before the Open (Jun 1)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day. <\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside. Hong Kong, South Korea, Taiwan, Malaysia and the Philippines did well; China, Indonesia and Thailand were weak. Europe, Africa and the Middle East<\/strong> are currently sporting big gains. France, Germany, the UAE, Greece, Denmark, South Africa, Finland, Switzerland, Hungary, Spain, the Netherlands, Sauid Arabia, Italy, Belgium and Portugal are up 1% or more. Only Turkey is down 1%. Futures in the States<\/strong> point towards a moderate gap up open for the cash market. <\/span>
\nThe dollar is up. Oil and copper are down. Gold and silver are down. Bonds are down. <\/span>
\n Here are the employment figures. <\/strong><\/span>
\n unemployment rate: 3.8% (was 3.9% last month)
\n nonfarm payrolls: +223K
\n private payrolls:
\n average workweek: flat at 34.5 hours
\n hourly wages: up 8 cents to $26.92
\n labor participation rate:<\/span><\/span><\/span><\/span><\/span><\/span>
\n March job gain raised from 135K to 155K.
\n April job gain reduced from 164KK to 159K.<\/span><\/span>
\n Overnight Stock Movers<\/strong> from barchart.com…<\/span>
\nNavistar International (NAV +1.98%) was upgraded to ‘Buy’ from ‘Neutral’ at Longbow Research with a price target of $50.<\/span>
\nAmerican Airlines Group (AAL +0.55%) was upgraded to ‘Outperform’ from ‘In-Line’ at Imperial Capital LLC with a price target of $56.<\/span>
\nLululemon Athletica (LULU +6.81%) rose nearly 7% in after-hours trading after it reported Q1 net revenue of $649.7 million, better than consensus of $617.7 million, and then forecast full-year net revenue of $3.04 billion to $3.08 billion, well above consensus of $2.63 billion.<\/span>
\nUlta Beauty (ULTA -5.08%) fell more than 4% in after-hours trading after it forecast Q2 EPS of $2.35 to $2.40, below consensus of $2.48.<\/span>
\nMadrigal Pharmaceuticals (MDGL +3.91%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer.<\/span>
\nCostco Wholesale (COST -1.90%) fell more than 3% in after-hours trading after it reported Q3 gross margin ex-items of 11%, weaker than consensus of 11.4%.<\/span>
\nWestar Energy, to be renamed Evergy (EVRG) ,will replace Navient in the S&P 500 prior to the open of trading on Tuesday, June 5.<\/span>
\nVMware (VMW +2.93%) rose more than 2% in after-hours trading after it reported Q1 total billings of $1.925 billion, stronger than consensus of $1.727 billion.<\/span>
\nPratt & Whitney (UTX -1.09%) was awarded a $2 billion contract from the U.S. Department of Defense for 135 F135 engines to power all three variants of the F-35 Lightning II aircraft.<\/span>
\nCaleres (CAL -5.53%) dropped almost 5% in after-hours trading after it reported Q1 net sales of $632.1 million, weaker than consensus of $645.0 million.<\/span>
\nOrthofix International NV (OFIX -0.47%) was rated a new ‘Overweight’ at Cantor Fitzgerald with a price target of $62.<\/span>
\nAmbac Financial Group (AMBC +6.85%) gained more than 4% in after-hours trading after it was announced that it will replace Integra Lifesciences Holdings in the S&P SmallCap 600 Index prior to the open of trading on Tuesday, June 5.<\/span>
\nXenia Hotels & Resorts (XHR +0.08%) was rated a new ‘Outperform’ at Baird with a price target of $27.<\/span>
\nKirkland’s (KIRK +16.21%) climbed 6% in after-hours trading after it reported Q1 net sales of $142.5 million, better than consensus of $140.0 million.<\/span>
\nGameStop (GME -0.83%) dropped almost 6% in after-hours trading after it reported Q1 comparable sales fell -5.3%, weaker than consensus of -5.0%.<\/span>
\n Thursday’s Key Earnings<\/strong>
\n Costco (NASDAQ:COST) -2% AH raising minimum wage to $14\/hour.
\n Dollar General (NYSE:DG) -9.4% battling a drop in traffic.
\n Dollar Tree (NASDAQ:DLTR) -14.3% after weak profit guidance.
\n GameStop (NYSE:GME) -3.3% AH following a tough quarter.
\n Lululemon (NASDAQ:LULU) +6.2% AH posting dazzling sales growth.
\n VMware (NYSE:VMW) +3.3% AH amid upside revenue guidance.
\n Workday (NYSE:WDAY) -3.3% AH despite beating estimates.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n Auto Sales
\n 8:30 Non-farm payrolls
\n 9:45 PMI Manufacturing Index
\n 10:00 ISM Manufacturing Index
\n 10:00 Construction Spending
\n 1:00 PM Baker-Hughes Rig Count<\/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 Friday. Happy Employment Numbers Day. The Asian\/Pacific markets closed with a lean to the upside. Hong Kong, South Korea, Taiwan, Malaysia and the Philippines did well; China, Indonesia and Thailand were weak. Europe, Africa and the Middle East are currently sporting big gains. France, Germany, the UAE, Greece, Denmark, South Africa, Finland, […]<\/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\/11859"}],"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=11859"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/11859\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}