{"id":6341,"date":"2013-01-24T08:44:36","date_gmt":"2013-01-24T13:44:36","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6341"},"modified":"2013-01-24T08:44:36","modified_gmt":"2013-01-24T13:44:36","slug":"before-the-open-jan-24-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6341","title":{"rendered":"Before the Open (Jan 24)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Japan rallied 1.3%, and Australia, Malaysia and Singapore also did well. China, India, South Korea and Taiwan dropped. Europe is currently mixed, but there are no big winners or losers (except Greece which is down 1.1%, but it doesn’t count). Futures here in the States point towards a down open for the cash market.
\n<\/span>
\nThe dollar is up. Oil is up, copper down. Gold and silver are down.<\/span>
\nWe all see the news. AAPL released earnings yesterday. The numbers were great, but they company isn’t growing like it used to, and Wall St. prices stocks for growth of the future, not a snap shot of today. The stock is down almost 9% (46 points) and is now close to a 1-year low.<\/span>
\nDover’s (DOV) Q4 profits dropped 43%…the stock has not traded premarket yet.<\/span>
\nBaxter’s (BAX) did well with earnings but then guided below analyst expectations. The stock has not traded premarket.<\/span>
\nBristol Myers Squibb (BMY) posted good earnings on down sales…the stock is up fractionally.<\/span>
\nMellanox (MLNX) is down 20% before the open.<\/span>
\nSwift Transportation (SWFT) is up 12%.<\/span>
\nNetflix (NFLX) is up 37% before the open. This is on top of a near-100% rally off its Sept low.<\/span>
\nUnion Pacific (UNP) is up 2.5%<\/span>
\nUnited Continental (UAL) posted a big loss. The stock hasn’t traded premarket.<\/span>
\nRaytheon’s (RTH) profits jump 14%.<\/span>
\nNokia (NOK) is down 5%…it swung to a profit but missed its sales forecast, and it suspended its dividend.<\/span>
\n3M (MMM) did well with earnings and then maintained its 2013 guidance. The stock is up 0.41%<\/span>
\nXerox (XRX) is up almost 3%…earnings related.<\/span>
\nSouthwest (LUV) is up 1%.<\/span>
\nPrecision Castparts (PCP) is down 1.2% after stating their earnings and sales rose but rose less than expected.<\/span>
\nMcCormick (MCK) posted decent headline results…the stock has not traded premarket.<\/span>
\nStanley Black & Decker (SWK) posted a big jump in earnings.<\/span>
\nLockheed Martin (LMT) forecast higher earnings for this year.<\/span>
\nYesterday the market couldn’t get much traction despite big moves from GOOG and IBM. Today it will have to deal with AAPL taking a 10% haircut.<\/span>
\nBesides AAPL the market will have to deal with being tired. The S&P has rallied six straight days, but I can’t see all the movement has been robust and full of energy. In fact the total net change over the six days is only 25 points, and the intraday ranges have been small.<\/span>
\nI like the market. The trend is up on all time frames, but in the very near term, we have to be more cautious. 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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