{"id":8301,"date":"2015-02-11T08:45:22","date_gmt":"2015-02-11T13:45:22","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=8301"},"modified":"2015-02-11T08:45:22","modified_gmt":"2015-02-11T13:45:22","slug":"before-the-open-feb-11-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=8301","title":{"rendered":"Before the Open (Feb 11)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China, India, South Korea and Taiwan did well; Australia, Malaysia and Hong Kong fell. Europe is currently mostly down. Greece is down almost 4%, and Norway is down 1.6%. Spain, Stockholm, Switzerland, London and France are also weak. Russia is up 1.8%. Futures here in the States point towards a slight down open for the cash market.
\n<\/span>
\nThe dollar is down slightly. Oil is down, copper is up. Gold and silver are up. Bonds are up. <\/span>
\nLast week the indexes tried to break out from a 5-week consolidation period, but prices quickly retraced back into the pattern. After two down days, the S&P managed to close above resistance on average volume. Follow through would be nice [for the bulls], but a stronger resistance level sits above at the December high. <\/span>
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\nIn my opinion this is a key time. For the last three months rallies have gotten sold and dips have gotten bought. The market has been trendy…but only for a several days at a time. <\/span>
\nRight now the market is attempting to build gains on top of gains. Instead of turning around and dropping after traveling from a low to a high, it’s trying to continue up. It’s possible a change in character is underway, but it has some proving to do. It’s either more of the same stuff we’ve had the last three months, or we’ll get a legit run to the high…and that’s when the fun really begins. More after the open. <\/span>
\n Stock headlines<\/strong> from barchart.com…<\/span>
\nPepsiCo (PEP +2.10%) reported Q4 EPS of $1.12, better than consensus of $1.08.<\/span>
\nTime Warner (TWX +0.34%) reported Q4 EPS of 98 cents, higher than consensus of 93 cents.<\/span>
\nGenworth (GNW -0.89%) reported a Q4 EPS loss of -84 cents with charges, a much bigger loss than consensus of -13 cents.<\/span>
\nService Corp. (SCI +0.61%) reported Q4 EPS ex-items of 37 cents, better than consensus of 36 cents.<\/span>
\nPier 1 Imports (PIR +1.19%) sank over 20% in after-hours trading after it lowered guidance on fiscal 2015 EPS to 80 cents-83 cents, well below consensus of $1.00.<\/span>
\nRush Enterprises (RUSHA +1.01%) reported Q4 EPS of 60 cents, higher than consensus of 52 cents.<\/span>
\nNational General (NGHC +1.77%) reported Q4 EPS of 30 cents, well above consensus of 23 cents.<\/span>
\nTeam Health (TMH -1.55%) reported Q4 adjusted EPS of 56 cents, better than consensus of 52 cents.<\/span>
\nNCR (NCR +2.07%) reported Q4 non-GAAP EPS of 88 cents, above consensus of 78 cents.<\/span>
\nAndersons (ANDE -0.37%) reported Q4 EPS of 89 cents, well below consensus of $1.08.<\/span>
\nFMC Technologies (FTI +0.05%) reported Q4 EPS with items of 72 cents, below consensus of 79 cents.<\/span>
\nWestern Union (WU +4.43%) reported Q4 EPS of 42 cents, higher than consensus of 34 cents, and then announced a new $1.2 billion share repurchase plan.<\/span>
\nCerner (CERN +0.81%) reported Q4 adjusted EPS of 47 cents, right on consensus, although Q4 revenue of $926.03 million was better than consensus of $904.33 million.<\/span>
\nAkamai (AKAM +2.05%) climbed 4% in after-hours trading after it reported Q4 EPS of 70 cents, better than consensus of 63 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\nToday’s economic calendar:
\n7:00 MBA Mortgage Applications
\n8:00 Fed’s Fisher: Monetary Policy
\n10:30 EIA Petroleum Inventories
\n1:00 PM Results of $24B, 10-Year Bond Auction
\n2:00 PM Treasury Budget<\/span><\/span><\/span><\/span><\/span><\/span>
\nNotable earnings before today’s open: ACCO, AFSI, AOL, ARMH, BGCP, CSTE, EEFT, EZCH, GNRC, HSIC, LO, LPX, MDLZ, MOS, MRKT, OC, PAG, PEP, RTI, TRI, TWX, USAK, VOYA, WBAI, WCG, WEC, WIX, WOOF, ZTS<\/span>
\nNotable earnings after today’s close: ABCO, ACHC, AEM, AMAT, AMBR, AUY, BIDU, CAKE, CJES, CPA, CRAY, CSCO, CSOD, CTL, CVA, CXW, CYS, DDR, DIOD, EFC, EFX, EXL, FET, FEYE, FORR, GAS, HIVE, HNI, HOS, IO, ITRI, LPSN, MET, NSIT, NTAP, NTWK, NU, NVDA, OII, PNRA, PPC, QDEL, REG, SCSS, SKX, SLF, SPRT, STMP, SWM, TAL, TCX, TRIP, TSLA, TSO, TTGT, WFM, ZEN, ZU<\/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>
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