{"id":9434,"date":"2016-01-29T08:53:23","date_gmt":"2016-01-29T13:53:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9434"},"modified":"2016-01-29T08:53:23","modified_gmt":"2016-01-29T13:53:23","slug":"before-the-open-jan-29-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9434","title":{"rendered":"Before the Open (Jan 29)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\n The Asian\/Pacific markets closed with relatively big, across-the-board gains. China gained more than 3%, and Malaysia, Taiwan, Japan, Hong Kong and Singapore rallied more than 2%. Europe is currently mostly up. London, Belgium, Switzerland, Turkey, Spain and Italy are up more than 1%; France, Germany and the Netherlands are also doing well. Futures here in the States point towards a moderate gap up open for the cash market. <\/span>
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\nJoin Leavitt Brothers<\/a> – Top Notch Analysis and Trading Ideas<\/strong><\/span>
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\nThe dollar is up. Oil is up, copper is up. Gold is flat, silver is up. Bonds are up. <\/span>
\n Japan has adopted negative interest rates for the first time ever. Excess reserves parked at the central bank (I don’t know how much is considered excess) will now pay 0.1%. Japan surged almost 3%. <\/span>
\n It’s been a choppy week. Going back to last Friday, the S&P has moved nowhere. Up, down…no directional moves have lasted more than a day. <\/span>
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\n The weekly is posting a loss, and the small range reflects the market’s indecision this week. <\/span>
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\n The biggest news right now is earnings. There have been many big post-earnings moves – big gaps in both directions and no way to comfortably guess which way stocks will go. <\/span>
\n Under Armour has been a mess for several months…yesterday it rallied almost 23%. <\/span>
\n Apple underwhelmed and paid the price. Ebay got crushed. <\/span>
\n Facebook did great and was rewarded. Amazon missed and will get hit at today’s open. <\/span>
\n Be careful out there. My overall bias remains to the downside. But in the near term anything goes…and especially anything goes with individual stocks. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Microsoft (MSFT +1.64%) is up over 3% in pre-market trading after it reported Q2 adjusted EPS of 78 cents, above consensus of 71 cents.<\/span>
\n Amazon.com (AMZN +8.91%) slumped over 10% in pre-market trading after it reported Q4 EPS of $1.00, well below consensus of $1.55, and said it sees Q1 operating income pf $100 million-$700 million, below consensus of $731.7 million.<\/span>
\n Electronic Arts (EA +0.43%) tumbled 8% in pre-market trading after it said it sees Q4 adjusted EPS of 40 cents, below consensus of 50 cents, and then forecast fiscal 2016 adjusted EPS of $3.04, below consensus of $3.11.<\/span>
\n Colgate-Palmolive (CL +1.12%) reported Q4 EPS of 73 cents, better than consensus of 72 cents.<\/span>
\n Phillips 66 (PSX +1.25%) reported Q4 EPS of $1.31, higher than consensus og $1.26.<\/span>
\n Amgen (AMGN -1.41%) rose over 1% in after-hours trading after it reported Q4 adjusted EPS of $2.61, higher than consensus of $2.29, and then raised guidance on fiscal 2016 adjusted EPS to $10.60-$11.00 from a November estimate of $10.35-$10.75, above consensus of $10.66.<\/span>
\n Western Digital (WDC +4.63%) slid over 1% in after-hours trading after it forecast Q3 sales of $2.8 billion-$2.9 billion, below consensus of $3.23 billion.<\/span>
\n Visa (V -2.23%) gained over 2% in after-hours trading after it reported Q1 adjusted EPS of 69 cents, higher than consensus of 68 cents.<\/span>
\n Synaptics (SYNA -1.18%) fell nearly 2% in after-hours trading after it reported Q2 revenue of $470.5 million, below consensus of $477.9 million, and then lowered guidance on Q3 revenue to $430 million-$470 million, less than consensus of $501.4 million.<\/span>
\n QLogic (QLGC +2.38%) surged over 10% in after-hours trading after it reported Q3 non-GAAP EPS of 33 cents, above consensus of 26 cents, and then raised guidance on Q4 adjusted EPS to 23 cents-27 cents, higher than consensus of 23 cents.<\/span>
\n Fortinet (FTNT +2.05%) jumped over 7% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to 67 cents-69 cents, above consensus of 67 cents.<\/span>
\n Flextronics (FLEX -0.63%) climbed 4% in after-hours trading after it reported Q3 adjusted EPS of 35 cents, higher than consensus of 30 cents.<\/span>
\n Skyworks Solutions (SWKS +4.26%) fell over 4% in after-hours trading after it reported Q1 adjusted EPS of $1.60, better than consensus of $1.58, but then lowered guidance on Q2 adjusted EPS to $1.24, below consensus of $1.32.<\/span>
\n According to the WSJ, Xerox (XRX unch) will split itself into two companies; one company grouping hardware operations, and another that will house its service business.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s Economic Calendar
\n 8:30 GDP Q4
\n 8:30 International trade in goods
\n 8:30 Employment Cost Index
\n 9:45 Chicago PMI
\n 10:00 Reuters\/UofM Consumer Sentiment
\n 1:00 PM Baker-Hughes Rig Count
\n 3:00 PM Farm Prices<\/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>
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