{"id":9048,"date":"2015-11-05T08:42:39","date_gmt":"2015-11-05T13:42:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9048"},"modified":"2015-11-05T08:42:39","modified_gmt":"2015-11-05T13:42:39","slug":"before-the-open-nov-5-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9048","title":{"rendered":"Before the Open (Nov 5)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific markets closed mixed. China rallied 1.85, and Japan moved up 1%. Australia, India and Indonesia did poorly. Europe currently leans to the upside. Germany, France and Denmark are up more than 1%; Switzerland and Russia are also doing well. Greece and Turkey are down more than 1%. Futures in the States point towards a moderate gap up open for the cash market. <\/span>
\n———————–<\/strong><\/strong>
\nPodcast with Chat With Traders<\/a>
\n———————–<\/strong>
\nThe dollar is flat. Oil is flat, copper is down. Gold and silver are mixed and flat. Bonds are mixed. <\/span><\/span>
\n I’m not going to call the market a runaway freight train because over the last 18 days, 9 have been up and 9 have been. But since the ups have been much bigger than the downs, across-the-board gains are in place. Going back further to the late-September bottom, the S&P rallied about 240 points. Here’s an intraday chart. The longest losing streak has been two points, so it’s been a classic “bull markets don’t let you in” situation. <\/span>
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\n Don’t over-analyze. Don’t think too much. The trend is up and environment is right for a continuation of the trend into the new year. There may be hiccups along the way, but why fight what’s in place?<\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Molson Coors Brewing (TAP -0.55%) reported Q3 EPS of $1.40, better than consensus of $1.30.<\/span>
\n Celgene (CELG +0.51%) reported Q3 EPS of $1.23, higher than consensus of $1.22.<\/span>
\n Facebook (FB +1.33%) climbed over 4% in pre-market trading after it reported Q3 adjusted EPS of 57 cents, higher than consensus of 52 cents.<\/span>
\nGilead Sciences (GILD -0.11%) fell nearly 2% in after-hours trading after French doctors said that Gilead’s hepatitis C medicine Sovaldi may trigger an abnormally slow heartbeat and put patients at risk of passing out.
\nQualcomm (QCOM -1.00%) slipped over 6% in after-hours trading after it reported Q4 adjusted EPS of 91 cents, better than consensus of 86 cents, but then lowered guidance on Q1 EPS to 80 cents-90 cents, below consensus of $1.08.
\n Marathon Oil (MRO -1.32%) fell over 4% in after-hours trading after it reported a Q3 adjusted EPS loss of -20 cents, better than consensus of a -41 cent loss, but reported Q3 revenue of $1.32 billion, below consensus of $1.38 billion.<\/span>
\n CenturyLink (CTL -1.65%) rose over 1% in after-hours trading after it reported Q3 adjusted EPS of 70 cents, higher than consensus of 69 cents.<\/span>
\n Bojangles’ (BOJA +4.43%) climbed nearly 5% in after-hours trading after it reported Q3 adjusted EPS of 23 cents, better than consensus of 18 cents, and then raised guidance on fiscal 2015 EPS to 79 cents-81 cents from a prior view of 75 cents-78 cents, above consensus of 76 cents.<\/span>
\n Lannett (LCI -1.54%) tumbled 15% in after-hours trading after it reported Q1 adjusted EPS of 99 cents, higher than consensus of 89 cents, but said a “key customer has taken steps to transition its purchases of certain product lines” from Kremers Urban Pharmaceuticals, which LCI agreed to acquire on Sep 1.<\/span>
\n SolarEdge (SEDG -8.76%) rose over 6% in after-hours trading after it reported Q1 adjusted EPS of 36 cents, better than consensus of 29 cents.<\/span>
\n Select Comfort (SCSS -2.63%) jumped over 10% in after-hours trading after it reported Q3 EPS of 62 cents, higher than consensus of 41 cents.<\/span>
\n FireEye (FEYE +0.66%) slumped over 15% in after-hours trading after it lowered guidance on fiscal 2015 revenue to $620 million-$628 million from an earlier estimate of $630 million-$645 million, below consensus of $640.4 million.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s Economic Calendar
\n Chain Store Sales
\n 7:30 Challenger Job-Cut Report
\n 8:30 Initial Jobless Claims
\n 8:30 Gallup Good Jobs Rate
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:30 EIA Natural Gas Inventory
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\nToday’s Earnings here<\/a><\/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