{"id":12010,"date":"2018-07-17T07:28:29","date_gmt":"2018-07-17T12:28:29","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=12010"},"modified":"2018-07-17T07:28:29","modified_gmt":"2018-07-17T12:28:29","slug":"before-the-open-jul-17-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=12010","title":{"rendered":"Before the Open (Jul 17)"},"content":{"rendered":"

Good morning. Happy Tuesday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan, India and Malaysia moved up; China, Hong Kong, Australia and Indonesia moved down. Europe, Africa and the Middle East<\/strong> currently lean to the downside. Turkey and Finland are up; France, Russia, Switzerland, Hungary, Spain and the Netherlands are down. Futures in the States<\/strong> point towards a slightly down open for most of the market and a big gap down for the Nasdaq.<\/span>
\n—————
\n VIDEO: <\/strong>There’s a Bull Market Somewhere<\/a>
\n—————<\/span>
\n The dollar is up. Oil and copper are flat. Gold is flat; silver is down. Bonds are up. <\/span>
\n Earnings season is getting started. Netflix missed on revenue and missed big on subscriber adds relative to their own forecast. The stock is down about 12% on the news. Here is subscriber adds vs. forecast the last 10 quarters. <\/span>
\n\"\"
\n Overnight Stock Movers<\/strong> from barchart.com…<\/span>
\n Netflix (NFLX +1.18%) tumbled 12% in pre-market trading after it reported Q2 revenue of $3.91 billion, weaker than consensus of $3.94 billion, and said that it added 5.2 million users in Q2, 1 million below expectations of 6.2 million subscribers.<\/span>
\n Amazon.com (AMZN +0.52%) is down more than 1% in pre-market trading after the company reported technical glitches on its website and app during its Prime Day sales promotion.<\/span>
\n Intel (INTC -0.40%) was downgraded to ‘In-line’ from ‘Outperform’ at Evercore ISI.<\/span>
\n Manitowoc (MTW -1.50%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs with a price target of $22.<\/span>
\n First American Financial (FAF +0.12%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Keefe, Bruyette & Woods with a price target of $61.<\/span>
\n Wolverine World Wide (WWW +0.86%) was upgraded to ‘Strong Buy’ from ‘Buy’ at CL King & Associates with a price target of $41.<\/span>
\n Goodyear Tire & Rubber (GT -1.15%) is down almost 3% in pre-market trading after it was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs with a price target of $18.<\/span>
\n International Game Technology PLC (IGT -1.97%) rose nearly 3% in after-hours trading after FanDuel announced that IGT will be the sport’s betting platform provider at Meadowlands Racetrack in East Rutherford, NJ.<\/span>
\n Carbonite (CARB -0.13%) dropped 6% in after-hours trading after it announced that it had commenced a proposed public offering of 4.0 million shares of its common stock.<\/span>
\n Xeris Pharmaceuticals (XERS -0.54%) was rated a new ‘Buy’ at Mizuho Securities with a price target of $26.<\/span>
\n Redfin (RDFN +2.00%) fell almost 5% in after-hours trading after it announced that it intends to offer 3.5 million shares of its common stock in an underwritten public offering.<\/span>
\n Evolus (EOLS -3.97%) sank 12% in after-hours trading after it commenced a proposed underwritten public offering of 5.0 million shares of its common stock with 2.5 million shares being offered by Evolus and 2.5 million shares to be offered by a selling stockholder of Evolus.<\/span>
\n Switch (SWCH +1.02%) was rated a new ‘Buy’ at Stifel with a price target of $15.<\/span>
\n Avid Bioservices (CDMO -3.66%) climbed 6% in after-hours trading after it reported an unexpected Q4 profit of 3 cents, better than consensus of a -15 cents per share loss.<\/span>
\n Monday’s Key Earnings<\/strong>
\n Bank of America (NYSE:BAC) +4.3% bolstered by consumer banking.
\n BlackRock (NYSE:BLK) -0.6% on disappointing Q2 flows.
\n Netflix (NFLX) -14.1% AH as subscriber growth missed estimates.<\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:55 Redbook Chain Store Sales
\n 9:15 Industrial Production
\n 10:00 Powell to deliver semi-annual monetary policy testimony
\n 10:00 NAHB Housing Market Index
\n 4:00 PM Treasury International Capital<\/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 Tuesday. The Asian\/Pacific markets closed mixed. Japan, India and Malaysia moved up; China, Hong Kong, Australia and Indonesia moved down. Europe, Africa and the Middle East currently lean to the downside. Turkey and Finland are up; France, Russia, Switzerland, Hungary, Spain and the Netherlands are down. Futures in the States point towards […]<\/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\/12010"}],"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=12010"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/12010\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}