{"id":8537,"date":"2015-04-28T07:45:16","date_gmt":"2015-04-28T12:45:16","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=8537"},"modified":"2015-04-28T07:45:16","modified_gmt":"2015-04-28T12:45:16","slug":"before-the-open-apr-28-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=8537","title":{"rendered":"Before the Open (Apr 28)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific markets closed mixed. China dropped 1.1%; Australia, South Korea and Singapore were also weak. India rallied 0.8%. Europe is mostly down. London, Germany, France, Amsterdam, Stockholm and Switzerland are all down more than 1%. Futures here in the States point towards a down open for the cash market.<\/span>
\nThanks for your votes on my public list<\/a> at stockcharts.com. Keep ’em coming.<\/strong><\/span>
\n The dollar is down. Oil is up, copper is down. Gold and silver are up. Bonds are down. <\/span>
\n Yesterday was not a good day for the market. The Nas and S&P gapped up and pushed to new highs but then trended down all day and posted moderate losses. The small and mid caps also gapped up and pushed higher, but they didn’t push to new highs and they also trended down all day and posted the biggest losses among the indexes. The overall range remains in place, but a big reversal candle near the highs is noticeable. <\/span>
\n For several months rallies have gotten sold and dips have gotten bought. Except for a little extra push at the end of February, no move has lasted long. Reversing off the high would continue this activity. This isn’t a bad thing. It just means those waiting\/hoping for resolution from the consolidation range will have to wait longer. <\/span>
\n Apple had earnings yesterday. The cash cow continues. Those guys print money quarter after quarter. After rallying about 8 points the last week and a couple bucks yesterday, AAPL is up 2 bucks this morning in premarket action. <\/span>
\n The FOMC meeting starts today and will end tomorrow with a statement regarding overnight rates and the discount rate. There are no expectations the Fed will do anything, but as has been the case, Wall St. will be looking clues as to when rates may be moved up. <\/span>
\n That’s it for now. Look for a “State of the Market” video I’m going to do during the day today. More after the open. <\/span>
\n Stock headlines<\/strong> from barchart.com…<\/span>
\n Ford Motor Co. (F +0.82%) reported Q1 EPS of 23 cents, below consensus of 26 cents.<\/span>
\n Aetna (AET -1.75%) reported Q1 EPS of $2.39, well above consensus of $1.95.<\/span>
\n Merck & Co. (MRK -0.87%) climbed nearly 2% in European trading after trial results showed its Januvia diabetes drug didn’t increase patients’ heart risk.<\/span>
\n Crane (CR -0.47%) reported Q1 adjusted EPS of 92 cents, less than consensus of $1.00, and then cut guidance on its fiscal 2015 EPS view to $4.30-$4.50 from $4.45-$4.65, at the low end of consensus of $4.46.<\/span>
\n Owens & Minor (OMI -0.86%) reported Q1 adjusted EPS of 44 cents, less than consensus of 45 cents.<\/span>
\n American Financial Group (AFG -1.26%) reported Q1 core EPS of $1.25, better than consensus of $1.14, although Q1 revenue of $946 million was less than consensus of $1.01 billion.<\/span>
\n Rent-A-Center (RCII +1.88%) reported Q1 EPS of 52 cents, above consensus of 50 cents.<\/span>
\n Apple (AAPL +1.82%) rose 1.5% in pre-market trading after it reported Q2 EPS of $2.33, higher than consensus of $2.16, and then boosted it stock buyback program to $140 billion from $90 billion.<\/span>
\n C.H. Robinson (CHRW -2.42%) reported Q1 EPS of 73 cents, below consensus of 74 cents.<\/span>
\n Hartford Financial (HIG -1.05%) reported Q1 EPS of $1.04, better than consensus of 97 cents.<\/span>
\n Amkor Technology (AMKR -2.34%) reported Q1 non-GAAP EPS of 12 cents, higher than consensus of 10 cents.<\/span>
\n Everest Re (RE -1.15%) reported Q1 EPS of $7.19, well above consensus of $5.93.<\/span>
\n Noble Energy (NBL -1.43%) ws initiated with an ‘Outperform’ at Cowen with a price target of $63.<\/span>
\n Anadarko (APC +0.55%) was initiated with an ‘Outperform’ at Cowen with a price target of $119.<\/span>
\n Swift Transport (SWFT -2.60%) reported Q1 adjusted EPS of 29 cents, above consensus of 28 cents, although Q1 operating revenue of $1.015 billion ws below consensus of $1.060 billion.<\/span>
\n W. R. Berkley (WRB -0.18%) reported Q1 operating EPS of 80 cents, higher than consensus of 73 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n FOMC meeting begins
\n 8:55 Redbook Chain Store Sales
\n 9:00 S&P Case-Shiller Home Price Index
\n 10:00 Richmond Fed Mfg.
\n 10:00 Consumer Confidence
\n 10:00 State Street Investor Confidence Index
\n 1:00 PM Results of $35B, 5-Year Note Auction<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: AET, AGCO, AIXG, AKS, ALLY, AMG, AUDC, AUO, AXE, BMY, BP, BSX, CARB, CAS, CBR, CIT, CMI, CNC, CNX, COH, CPLA, CRY, DFRG, DORM, ECL, ENTG, ETR, F, FBC, FDP, FLWS, FMER, GAS, GLW, GPI, HMC, HSP, ICLR, IDXX, IIVI, IPGP, IPI, JBLU, JEC, LRN, LXK, MAS, MDXG, MHFI, MRGE, MRK, NCI, NEO, NOV, OFC, OSK, PAG, PFE, PH, PHG, POR, SALT, SC, SIR, SIRI, ST, SVU, TMUS, TXT, UBSI, UPS, UTHR, VDSI, VLO, WAT, WDR, WHR, WWW, WYN, XRS, YNDX<\/span>
\n Notable earnings after today’s close: ACGL, ACHC, AEGN, AFL, AHGP, AKAM, AMCC, ANIK, ARI, ARLP, AUY, AZPN, BGFV, BLDP, BMR, BOOM, BWLD, BXMT, CALX, CBL, CEB, CGI, CHE, CINF, CLF, CMRE, CNL, CRUS, DDR, DHT, EEFT, EIX, EPIQ, EPR, EQR, ESRT, ESRX, EXAC, FARO, FEIC, GNW, GPRE, GPRO, HAWK, HELE, HIW, HLIT, HURN, IACI, IGT, INAP, IPHI, KALU, KBR, KRFT, LOGM, MRCY, MSTR, MTSI, MWA, NANO, NATI, NCR, NVDQ, OHI, OI, OTEX, PEI, PNRA, RNG, RPXC, RRC, RSYS, SKT, SLCA, SWI, TAHO, TE, TPX, TSS, TWTR, ULTI, VRSK, WDC, WRI, WSH, WYNN, X, XCO, XOOM<\/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