{"id":6886,"date":"2013-08-06T07:35:59","date_gmt":"2013-08-06T12:35:59","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6886"},"modified":"2013-08-06T07:35:59","modified_gmt":"2013-08-06T12:35:59","slug":"before-the-open-aug-6-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6886","title":{"rendered":"Before the Open (Aug 6)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Japan and China did well; Hong Kong, Singapore, South Korea and Taiwan did not. Europe is currently trading mixed. Switzerland and Greece are up; Amsterdam and Norway are down. Futures here in the States point towards a down open for the cash market.
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are down.<\/span>
\nThe market took the day off yesterday. All it’s movement was contained within the high and low of Friday…the range was very tight…volume was very light.<\/span>
\nPurely from a technical standpoint, the upside should be limited. There are many indicators diverging from the price action and some divergences appearing on the index charts themselves. But given the price action since the November bottom, you never know. The market could enter idiot mode again and melt up. <\/span>
\nHere’s the SPX weekly. A divergence is forming between the index and RSI.<\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\nRegeneron Pharmaceuticals (REGN -0.51%) reported Q2 EPS of $1.73, weaker than consensus of $1.75.<\/span>
\nCVS Caremark (CVS -0.36%) reported Q2 EPS of 97 cents, better than consensus of 96 cents.<\/span>
\nArcher-Daniels-Midland (ADM +0.77%) reported Q2 EPS of 46 cents, stronger than consensus of 44 cents.<\/span>
\nEmerson Electric (EMR -0.34%) reported Q3 EPS of 97 cents, lower than consensus of 98 cents.<\/span>
\nIntercontinentalExchange (ICE -1.49%) reported Q2 EPS of $2.19, better than consensus of $2.14.<\/span>
\nChevron (CVX -0.77%) has agreed to pay $1.28 million in fines after pleading no contest to criminal charges stemming from a 2012 fire at the company’s Richmond, California refinery last year.<\/span>
\nKindred Healthcare (KND +5.47%) reported Q2 core EPS of 32 cents, weaker than consensus of 33 cents.<\/span>
\nDeere (DE -0.72%) was downgraded to “Underperform” from “Market Perform” at William Blair.<\/span>
\nWashington Post (WPO +1.56%) rallied over 5% in after-hours trading after Jeff Bezos agreed to purchase the Washington Post newspaper publishing business for $250 million.<\/span>
\nSAC Capital reported a 5.1% passive stake in Children’s Place (PLCE +0.79%) .<\/span>
\nAlleghany (Y +0.12%) reported Q2 EPS of $6.78, well ahead of consensus of $5.36.<\/span>
\nFidelity National (FNF -0.40%) reported Q2 EPS of 68 cents, stronger than consensus of 62 cents.<\/span>
\nHologic (HOLX -0.66%) reported Q3 EPS of 38 cents, higher than consensus of 37 cents, but lowered its guidance on fiscal 2013 EPS to $1.46-$1.47 from $1.54-$1.56 and below consensus of $1.54.<\/span>
\nAmerican Eagle Outfitters (AEO -0.40%) slumped over 17% in after-hours trading after it lowered guidance on Q2 EPS to 10 cents, lower than concsensus of 21 cents due to weaker than expected sales and margin results.<\/span>
\nUnum Group (UNM -0.58%) reported Q2 adjusted EPS of 82 cents, better than consensus of 80 cents.<\/span>
\nEarnings<\/strong> from seekingalpha.com…<\/span>
\nNotable earnings before today’s open: ACM, ADM, AFSI, AKRX, ALLT, ARCC, ARCO, AYR, BPI, CCC, CHTR, CMLP, CNK, CTSH, CVS, D, DBD, DISH, DNR, DWRE, EMR, END, ENDP, EXPD, FBN, FE, FOSL, GGS, HAR, HCN, HPT, HSIC, ICE, IFF, ISIS, KORS, KWK, LIOX, LPX, MGM, NRGY, OAK, OMX, OXF, PH, POZN, PQ, RDC, REGN, RIGL, SATS, SE, SEP, SMG, SPR, SRE, STWD, TA, TAP, TDG, TDW, TECD, TGH, THC, TICC, TRGT, VSI, WMC, ZTS<\/span>
\nNotable earnings after today’s close: ALJ, AMTG, ANDE, ATO, AVNR, BID, BIO, BMR, CAR, CF, CHRW, CHUY, CSC, CSOD, DGI, DGIT, DIS, DPM, DVA, ENOC, ENPH, EOG, EXEL, FSLR, FST, FURX, G, GA,GDP, GEOS, GEVO, GIVN, GLUU, GPOR, JAZZ, LQDT, LYV, MCEP, MED, MRO, NUAN, OAS, ONTY, ORA, PRI, PZZA, QUAD, REXX, SD, SLTM, SNTS, SPRD, SYNC, TESO, TWO, URS, VSAT, XNPT, Z<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\n