{"id":9176,"date":"2015-12-11T08:35:34","date_gmt":"2015-12-11T13:35:34","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9176"},"modified":"2015-12-11T08:35:34","modified_gmt":"2015-12-11T13:35:34","slug":"before-the-open-dec-11-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9176","title":{"rendered":"Before the Open (Dec 11)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Indonesia, Taiwan and Hong Kong dropped more than 1%; China and India were also weak. Japan rallied 1%. Europe is currently down across-the-board. Germany, Austria and Finland are down more than 2%; London, France, the Netherlands, Norway, Sweden, Switzerland, the Czech Republic, Turkey, Denmark, Hungary, Spain, Italy, Belgium and Portugal are down more than 1%. Futures in the States point towards a relatively big gap down open for the cash market. <\/span>
\n—————
\nVIDEO: My Forecast for 2016<\/a> …
\nor copy and paste this link
\nhttp:\/\/clicksecure.co\/?a=52&c=2364&s1=leav<\/span>
\n—————<\/strong>
\nThe dollar is down. Oil is down, copper is up. Gold and silver are down. Bonds are up.
\n<\/span>
\nI’ve been saying all week that I don’t like the market…that I don’t trust it…that I see more signs of weakness than strength…that I don’t care about December being the strongest month of the year or years ending in 5 always posting a gain. I call it as I see it, and I just don’t like what I see. <\/span>
\nI don’t under-estimate the market’s ability to do one of those hysterical short squeeze rallies, but based on what I’m seeing, such a move is more likely to be a one-off event, not the beginning of a sustained move. <\/span>
\nThings can change, and I will certainly change my tune if necessary. But for now, I’m not crazy about what I’m seeing. The indexes aren’t in bad shape, but beneath the surface, things aren’t great. <\/span>
\nNo big bets right now. Chip away and make a few bucks here and there. This definitely isn’t a time to be super aggressive. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\nTeradata (TDC +1.74%) was rated a new ‘Sell’ at Goldman Sachs with a price target of $26.<\/span>
\nChipotle Mexican Grill (CMG +5.00%) was downgraded to ‘Hold’ from ‘Buy’ at Argus.<\/span>
\nAdobe Systems (ADBE -0.67%) rose over 5% in after-hours trading after it reported Q4 adjusted EPS of 62 cents, above consensus of 60 cents, and reported its Q4 creative cloud subscriptions rose 933,000, higher than estimates of 697,000.<\/span>
\nElectronic Arts (EA -1.07%) rallied over 2% in after-hours trading after it said it is creating an e-sports division for live events and broadcasts.<\/span>
\nAllegheny Technologies (ATI +14.12%) dropped more than 1% in after-hours trading after it cut its quarterly dividend to 8 cents a share from 18 cents, citing challenging market conditions for flat rolled products and grain-oriented electrical steel products.<\/span>
\nRestoration Hardware Holdings (RH -0.69%) climbed over 7% in after-hours trading after it reported Q3 adjusted EPS of 65 cents, higher than consensus of 63 cents, and then raised guidance on Q4 revenue to $708 million-$718 million from a previous estimate of $698 million-$708 million, above consensus of $704\/1 million.<\/span>
\nJetBlue Airways (JBLU +0.43%) slipped nearly 3% in after-hours trading after it said it sees it expects its Q4 preliminary passenger revenue per available seat mile (PRASM) to fall between -2.0% and -3.0% y\/y.<\/span>
\nFinisar (FNSR -0.94%) surged over 12% in after-hours trading after it reported Q2 adjusted EPS of 25 cents, better than consensus of 23 cents.<\/span>
\nUnited Technologies (UTX -0.31%) rose over 1% in after-hours trading after it revealed a $1.5 billion restructuring plan to be implemented through 2018 that it said will provide $900 million in annualized savings when completed.<\/span>
\nNordson (NDSN -1.10%) slid over 4% in after-hours trading after it reported Q4 adjusted EPS of 95 cents, below consensus of $1.07,<\/span>
\nVince Holding (VNCE +6.21%) dropped nearly 8% in after-hours trading after it reported Q3 comparable sales including e-commerce fell -12.5%, a bigger decline than consensus of -3.4%, and lowered guidance on its top end of fiscal 2015 sales to $285 million-$290 million from $285 million-$295 million, below consensus of $289.2 million.<\/span>
\nSunEdison (SUNE +3.28%) jumped over 6% in after-hours trading after it said it sold its Bingham and Oakfield wind farm assets, which produce 333 MW of wind-power, to Terra Nova Renewable Partners, a strategic partnership formed between SunEdison and institutional investors, for $209 million.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\nToday’s Economic Calendar
\n8:30 Producer Price Index
\n8:30 Retail Sales
\n10:00 Business Inventories
\n10:00 Reuters\/UofM Consumer Sentiment
\n1:00 PM Baker-Hughes Rig Count<\/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