{"id":7380,"date":"2014-02-11T08:36:58","date_gmt":"2014-02-11T13:36:58","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7380"},"modified":"2014-02-11T08:36:58","modified_gmt":"2014-02-11T13:36:58","slug":"before-the-open-feb-11-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7380","title":{"rendered":"Before the Open (Feb 11)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific markets closed up across-the-board. Hong Kong and Japan rallied 1.8%; China also did well. Europe is currently up across-the-board. Austria, Germany and Stockholm are up more than 1%; Belgium, France, London and the Czech Republic are also doing well. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\n The dollar is down. Oil is up, copper is down. Gold and silver are up. <\/span>
\n Janet Yellen appears before the House Financial Services Committee today. Her prepared remarks will be released at 8:30 am, and she’ll do a question and answer session at 10:00 am. This is her first such appearance since taking over as Fed Chair. Wall St. will be watching and listening for not only policy clues but also personality traits that may hint at the kind of Fed we’ll be dealing with for the next couple years. <\/span>
\n If you’re a day trader, know that at any time the market could quickly move regardless of the technicals. <\/span>
\n Yellen then speaks on Thursday in front of the Senate Banking Committee.<\/span>
\n Here’s a simple S&P 500 daily chart. The index has recaptured about half the drop off its high and now sits right at 1800 (although futures suggest it’ll open about 6 points above this level). This is a perfectly normal bounce (from a technical standpoint). If the next move is to be up, the bulls need to step up and push price up further. A drop here may begin the next round of selling pressure. Keep level here. <\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Regeneron Pharmaceuticals (REGN +1.40%) reported Q4 EPS of $2,24, better than consensus of $2.09.<\/span>
\n IntercontinentalExchange Group (ICE -1.59%) reported Q4 EPS of $1.58, well below consensus of $1.95.<\/span>
\n CVS Caremark (CVS +0.75%) reported Q4 EPS of $1.12, highe than consensus of $1.11.<\/span>
\n Reynolds American (RAI +0.10%) reported Q4 EPS of 77 cents, weaker than consensus of 80 cents.<\/span>
\n General Motors (GM -3.35%) gained 1% in European trading after the automaker reported that its China Jan auto sales jumped +12% to a record 348,061 units.<\/span>
\n Owens & Minor (OMI +1.20%) reported Q4 adjusted EPS of 52 cents, better than consensus of 49 cents.<\/span>
\n Masco (MAS -1.45%) reported Q4 EPS of 15 cents, below consensus of 16 cents.<\/span>
\n Yacktman Asset reported 5.5% passive stake in Sysco (SYY -0.34%) .<\/span>
\n Talisman Group reported a 15.61% stake in Endeavour (END +2.04%) .<\/span>
\n Vanguard reported a 5.79% passive stake in Align Technology (ALGN -0.04%) .<\/span>
\n Amkor Technology (AMKR +2.50%) reported Q4 EPS of 18 cents, higher than consensus of 14 cents<\/span>
\n Molina Healthcare (MOH -0.80%) reported a Q4 EPS loss of -20 cents, a much bigger loss than consensus of -4 cents.<\/span>
\n Ionic Capital reported a 5.07% passive stake in GenCorp (GY -0.95%) .<\/span>
\n T. Rowe Price reported a 7.2% passive stake in Array BioPharma (ARRY +6.78%) .<\/span>
\n Nuance (NUAN +0.25%) reported Q1 adjusted EPS of 24 cents, better than consensus of 21 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 7:30 NFIB Small Business Optimism Index
\n 7:45 ICSC Retail Store Sales
\n 8:55 Redbook Chain Store Sales
\n 10:00 Wholesale Trade
\n 1:00 PM Results of $30B, 3-Year Note Auction<\/span><\/span><\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: ALLT, CBM, CVS, DF, DWRE, ETR, GWR, HCP, HNT, HSIC, HUN, ICE, IR, LGND, LPLA, MGI, MMC, MOS, NNN, OMC, PCG, PRLB, RAI, REGN, SCOR, SPAR, TGH, ZTS<\/span>
\n Notable earnings after today’s close: ACGL, ANDE, BDE, CALX, CEB, CNVR, CRL, CSOD, CUTR, CVA, DIOD, DVA, EEFT, EGN, FEYE, FOSL, FRT, HTS, JIVE, MKTO, MRIN, MX, PHH, PKG, PL, QDEL, RLOC, RPXC, SCI, SGEN, SGMO, SKT, SSNC, TRIP, TRMB, TWTC, VSAT, WSH, WU<\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n