{"id":8575,"date":"2015-05-08T07:47:19","date_gmt":"2015-05-08T12:47:19","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=8575"},"modified":"2015-05-08T07:47:19","modified_gmt":"2015-05-08T12:47:19","slug":"before-the-open-may-8-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=8575","title":{"rendered":"Before the Open (May 8)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day. <\/span>
\n The Asian\/Pacific markets closed with a lean to the upside. China rallied 2.3%, India 1.9% and Hong Kong 1.1%. Europe is currently mostly up. London, France, Belgium, Amsterdam, Italy, Spain and Switzerland are all up 0.9% or better. Futures here in the States point towards an up 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 up. Oil is up, copper is down. Gold and silver are up. Bonds are down. <\/span>
\n Here are the employment numbers\u2026<\/span>
\n unemployment rate: 5.4% (was 5.5% last month)
\n nonfarm payrolls: +223K (was +126K last month) \u2013
\n private payrolls:
\n average workweek: unchanged at 34.5 hours
\n hourly wages: up 3 cents or 0.1% to $24.87
\n labor participation rate: up to 62.8% (was 62.7%)<\/span><\/span><\/span><\/span><\/span><\/span>
\n March job gain cut from 126K to 85K
\n February job gain raised from 264K to 266K<\/span><\/span>
\n At first glance these seem like decent numbers – not great, just decent. S&P futures jumped about 10 points on the news and continue to climb as of this post.<\/span>
\n There’s a belief that good news is bad and bad news is good…that bad employment numbers would result in a longer delay before rates are raised and good numbers would force the Fed to raise rates sooner. But these numbers seem decent on the surface, and the market is jumping. <\/span>
\n Here’s the S&P daily going back to November – a big sloppy mess, a complete lack of smooth movement. Rallies get sold, dips get bought…lots of gaps…lots of long tails on the candles…lots of overlapping candles…no move lasts long or goes far. Just a mess, and not a fun environment for trend traders. <\/span>
\n\"\"
\n Don’t over-trade…don’t churn your account. If you trade short term, keep doing your thing. If you’re more a trend trader that likes to hold for a few weeks or longer, pick your spots wisely. More after the open. <\/span>
\n Stock headlines<\/strong> from barchart.com…<\/span>
\n Ericsson (ERIC +1.56%) was upgraded to ‘Buy’ from ‘Neutral’ at BofA\/Merrill Lynch and at UBS.<\/span>
\n Biogen (BIIB -0.07%) announced a $5 billion share repurchase program of the company\u2019s common stock.<\/span>
\n Sucampo (SCMP -19.71%) rose 3% in after-hours trading after it announced that the FDA has granted Fast Track Designation for its drug cobiprostone that helps in the prevention of oral mucositis.<\/span>
\n CST Brands (CST +0.24%) reported Q1 EPS of 20 cents ex-items, weaker than consensus of 23 cents.<\/span>
\n Molina Healthcare (MOH -0.19%) reported Q1 adjusted EPS of 71 cents, well above consensus of 49 cents.<\/span>
\n NVIDIA (NVDA +1.76%) reported Q1 EPS of 33 cents, better than consensus of 26 cents.<\/span>
\n Cerner (CERN +0.56%) reported Q1 EPS of 45 cents, right on consensus, although Q1 revenue of $996.1 million was less than consensus of $1.09 billion.<\/span>
\n Sprouts Farmers Markets (SFM -2.74%) reported Q1 adjusted EPS of 25 cents, below consensus of 26 cents, and then lowered guidance on fiscal 2015 adjusted EPS to 84 cents-87 cents, below consensus of 88 cents.<\/span>
\n Mohawk (MHK +2.12%) reported Q1 adjusted EPS of $1.70, higher than consensus of $1.60.<\/span>
\n Scientific Games (SGMS +4.93%) reported a Q1 EPS loss of -$1.01, a smaller loss than consensus of -$1.26.<\/span>
\n Mettler-Toledo ({=MTD reported Q1 adjusted EPS of $2.25, above consensus of $2.17.<\/span>
\n Nuance (NUAN -0.26%) reported Q2 non-GAAP EPS of 30 cents, higher than consensus of 24 cents.<\/span>
\n Kemper (KMPR -0.47%) repored Q1 EPS of 42 cents, well below consensus of 57 cents.<\/span>
\n CA Technologies (CA -0.16%) lowered guidance on fiscal 2016 EPS to $2.38-$2.45, below consensus of $2.47, and said it sees fiscal 2016 revenue of $3.95 billion-$3.99 billion, below consensus of $4.18 billion.<\/span>
\n CBS (CBS +0.16%) reported Q1 EPS of 78 cents, better than consensus of 75 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 8:30 Initial Jobless Claims
\n 8:30 Gallup US Payroll to Population
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:30 EIA Natural Gas Inventory
\n 3:00 PM Consumer Credit
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: AAON, ACHN, ACRE, AEE, AGIO, AKRX, ALE, ALU, AMRC, APA, APO, ARCP, ARIA, AXAS, BABA, BDBD, BDX, CBB, CCC, CCOI, CDW, CECE, CHD, CNK, CNQ, CNSL, CONE, COT, COTY, CRIS, CSIQ, DFT, DNOW, DWRE, ENZY, FIG, FSYS, GLP, GOGO, GOLD, GSM, HII, HILL, HL, HPT, INSY, INXN, IRC, IT, KATE, LEAF, LIOX, LPI, LQDT, LXP, MFC, MGA, MITL, MMS, MPEL, MPW, MT, MWW, MZOR, NCLH, NICE, NJR, NRP, NXST, OGE, ONE, OWW, PCLN, PDCE, PGEM, PMC, PPL, PRFT, RDEN, REGN, RESI, REV, RFP, RGEN, RICE, RRD, RSTI, RWLK, SATS, SEAS, SFY, SNAK, SNI, SPH, SRPT, SSTK, STE, SUNE, TA, TAP, TDC, THS, TIME, TLM, TLP, TU, USAC, VC, VTG, WAC, WIN, WPG, WPP, WRES<\/span>
\n Notable earnings after today’s close: ABTL, ACAD, ACET, ADVS, AGO, AHS, AHT, AIRM, AL, ALIM, ALJ, ALNY, ALSK, AMBR, AMH, ASYS, AVNW, BCEI, BEBE, BIOS, BKD, CA, CBS, CDXS, CERN, CNAT, CORT, CROX, CUTR, CYBR, DATA, DIOD, DXPE, EBS, ECPG, ECYT, ED, EGY, ENOC, ENV, ERII, ESPR, EVC, EZPW, FLDM, FRT, FTD, FUEL, GALE, GDOT, GEOS, GST, GXP, HTGC, IMPV, INWK, JAZZ, JCOM, JMBA, KEYW, KTOS, LBTYA, MAIN, MCHP, MDRX, MDVN, MED, MHK, MNST, MOH, MTD, MTRX, NGVC, NHI, NOG, NUAN, NVAX, NVDA, OLED, OMED, OUTR, PCTY, PETX, PLNR, POST, PRO, PSIX, RBA, RBCN, RIGL, RJET, RMAX, RMTI, RPTP, RRMS, SAAS, SEMG, SFM, SGMS, SLW, SPPI, SRC, SREV, SSNI, STMP, SWIR, TCX, TEAR, TGI, THOR, TLLP, TNGO, TPC, TRMR, TRUE, TWOU, UBNT, UEPS, WAIR, WIFI, XOMA, XOXO, YUME, ZNGA<\/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