{"id":6029,"date":"2012-10-02T07:41:58","date_gmt":"2012-10-02T12:41:58","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6029"},"modified":"2012-10-02T07:41:58","modified_gmt":"2012-10-02T12:41:58","slug":"before-the-open-oct-2-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6029","title":{"rendered":"Before the Open (Oct 2)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Australia and Singapore did well; China and Hong Kong were still closed. Europe is currently up across the board. Greece is up 3.6%; Belgium is up 0.75%. Futures here in the States point towards a solid gap up open for the cash market.
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up.<\/span>
\nAustralia’s central bank lower interest rates 0.25%.<\/span>
\nRumors are Spain is ready to ask for a bailout, but Germany is advising them to wait.<\/span>
\nThe NY attorney general has filed a lawsuit against JP Morgan over mortgage-backed securities that were sold by Bear Stearns.<\/span>
\nSamsung filed a patent lawsuit against Apple.<\/span>
\nEXPR cut its Q3 guidance…the stock is down 18% in premarket trading.<\/span>
\nMOS’s fiscal Q1 earnings gell 18%…the stock is down 2.6%.<\/span>
\nPETM is replacing SUN in the S&P 500. CAB will move to the S&P 400. ACOR will move to the S&P 600.<\/span>
\nZUMZ said Sept same-store sales rose 5.6%…the stock is up 6% before the open.<\/span>
\nWPP reduced its 2012 earnings outlook, pointing to lower profitability anticipated at its Brainerd, Minn., facility as well as to \u201cfurther weakening\u201d in demand seen recently for economically sensitive industrial product categories. <\/span>
\nCore Laboratories CLB -0.70% projected that consolidated results for the third quarter will come in lower than recently forecast, citing data showing a drop in the number of rigs drilling for oil and natural gas in North America. The stocks is down 10%.<\/span>
\nWLP is selling $1.35B in 30-year senior convertible debentures.<\/span>
\nPNR is buying back $800M in stock.<\/span>
\nUBA is sellng 2.5M shares of Class A common stock in a secondary offering.<\/span>
\nGAIN is selling 4.0M common shares in a secondary offering.<\/span>
\nEPHC is upping their dividend 25%.<\/span>
\nMy opinion of the market remains the same. In the near term things are unclear. In the intermediate term, the trend is up, and unless something changed, new highs will be made again. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
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