{"id":8124,"date":"2014-11-26T08:37:47","date_gmt":"2014-11-26T13:37:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=8124"},"modified":"2014-11-26T08:37:47","modified_gmt":"2014-11-26T13:37:47","slug":"before-the-open-nov-26-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=8124","title":{"rendered":"Before the Open (Nov 26)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific markets closed mostly up. Hong Kong, China and Australia each rallied more than 1%. Europe is mixed and mostly quiet. Germany and Prague are up; France, Norway, Spain and Stockholm are down. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\n The dollar is down. Oil and copper are up. Gold and silver are down.<\/span>
\n The first two days of the week have been quiet; today will be even quieter. Tomorrow is a day off, and Friday is a half day. <\/span>
\n Only once during the last six weeks has the S&P dropped on consecutive days. Yesterday was a down day, so we’ll see if the feat can be accomplished again – not that it would matter much.<\/span>
\n There’s a ton of economic news out today. <\/span>
\n Gold and silver stocks look promising right now. Many are sitting in little consolidation patterns. The next few days may decide if the entire group legs up. <\/span>
\n Nothing meaningful will happen today. Enjoy the time off. Rest, recharge. The rest of the year will be fruitful. <\/span>
\n Stock headlines<\/strong> from barchart.com…<\/span>
\n Deere & Co. (DE +0.31%) reported Q4 EPS of $1.83, well above consensus of $1.57.<\/span>
\n Resource Capital (RSO +0.19%) was upgraded to ‘Outperform’ from ‘Market Perform’ at JMP Securities.<\/span>
\n ReneSola (SOL -1.40%) reported a Q3 EPS loss of -6 cents, well below consensus of a 5 cent gain.<\/span>
\n Copa Holdings (CPA +0.18%) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase.<\/span>
\n Cinemark (CNK +0.83%) was downgraded to ‘Hold’ from ‘Buy’ at Topeka.<\/span>
\n Hertz (HTZ +3.65%) rallied over 2% in after-hours trading after billionaire activist investor Carl Icahn reported a 10.77% stake in the company.<\/span>
\n Ctrip.com (CTRIP) reported Q3 adjusted EPS of 36 cents, well above consensus of 20 cents.<\/span>
\n Adage Capital Partners reported a 5.28% passive stake in Rexnord (RXN +2.40%) .<\/span>
\n Cubic (CUB +1.20%) reported Q4 EPS of $1.22, well above consensus of 94 cents.<\/span>
\n Hewlett-Packard (HPQ +0.35%) slid over 1% in after-hours trading after it reported Q4 EPS of $1.06, right on consensus, although Q4 revenue of $28.40 billion was less than consensus of$28.76 billion.<\/span>
\n Analog Devices (ADI -0.17%) climbed over 2% in after-hours trading after it reported Q4 EPS of 69 cents, better than consensus of 68 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:<\/span>
\n 7:00 MBA Mortgage Applications
\n 8:30 Durable Goods
\n 8:30 Initial Jobless Claims
\n 8:30 Personal Income and Outlays
\n 9:45 Bloomberg Consumer Comfort Index
\n 9:55 Reuters\/UofM Consumer Sentiment
\n 10:00 Pending Home Sales
\n 10:00 New Home Sales
\n 10:30 EIA Petroleum Inventories
\n 12:00 PM EIA Natural Gas Inventory
\n 1:00 PM Results of $29B, 7-Year Note Auction
\n 3:00 PM USDA Ag. Prices<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: DE, SDRL, SOL<\/span>
\n Notable earnings after today’s close: LEDS<\/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