{"id":9639,"date":"2016-04-27T07:45:17","date_gmt":"2016-04-27T12:45:17","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9639"},"modified":"2016-04-27T07:45:17","modified_gmt":"2016-04-27T12:45:17","slug":"before-the-open-apr-27-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9639","title":{"rendered":"Before the Open (Apr 27)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy FOMC Day. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. Singapore, Japan and New Zealand dropped 0.6 – 0.7%. Indonesia gained 0.7%. Europe<\/strong> is currently mixed. Greece is down 3.7%; Poland and the Netherlands are also weak. Norway is up more than 1%; Germany, Austria, Denmark and Portugal are also up. Futures here in the States<\/strong> point towards a down open for the cash market. <\/span>
\nThe dollar is down a small amount. Oil is up a buck; copper is down. Gold and silver are up. Bonds are up. <\/span>
\n Today is Fed day. They’ve said numerous times they want to raise rates, so in my opinion, they should do it now. The S&P is up almost 300 points the last 11 weeks, so there’s a big cushion to work with. The market can easily absorb a rate hike and not do too much damage to the charts. But they probably won’t…or at least Wall St. doesn’t think they will. <\/span>
\n If they don’t want to raise, they’ll desperately grasp for anything that allows them to hold off. Despite the overall market strength, big cap tech stocks have taken hits lately. <\/span>
\n Last week Netflix, Microsoft and Google and took big hits. <\/span>
\n\"\"
\n Today Apple and Twitter will do the same. <\/span>
\n\"\"
\n Apple’s earnings were below expectations. Revenue fell. Profits declined. Sales dropped for the first time in a decade. <\/span>
\n Perhaps the Fed looks at the odds of a tech recession and continues to hold off raising rates. They’ll do what they want. They’ll spin whatever info and data is available and justify whatever they want to do. <\/span>
\n Personally I haven’t bought a tech stock in a while. All my focus has been in the commodity space. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Apple (AAPL -0.69%) dropped more than 7% in pre-market trading after it forecast Q3 revenue of $41 billion-$43 billion, weaker than consensus of $47.35 billion and below the lowest estimate of $43.95 billion.<\/span>
\n Capital One Financial (COF +1.29%) dropped nearly 2% in after-hours trading after it reported Q1 adjusted EPS continuing operations of $1.85, weaker than consensus of $1.92.<\/span>
\n Twitter (TWTR +3.86%) slid 14% in pre-market trading after it said it sees Q2 revenue of $590 million-$610 million, well below consensus of $677.1 million.<\/span>
\n Panera Bread (PNRA -1.50%) climbed 2% in after-hours trading after it reported Q1 adjusted EPS of $1.56, better than consensus of $1.50,<\/span>
\n Total System Services (TSS +0.82%) gained over 4% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $2.78-$2.85 from a January 26 estimate of $2.56-$2.62.<\/span>
\n Cree (CREE +1.65%) climbed 2% in after-hours trading after it reported Q3 adjusted EPS of 17 cents, higher than consensus of 14 cents.<\/span>
\n Buffalo Wild Wings (BWLD +0.13%) slumped over 10% in after-hours trading after it lowered guidance on fiscal 2016 EPS to $5.65-$5.85 from a February 3 estimate of $5.95-$6.20, below consensus of $6.10.<\/span>
\n Hub Group (HUBG +2.93%) rallied 5% in after-hours trading after it reported Q1 adjusted EPS of 58 cents, well above consensus of 40 cents.<\/span>
\n ViaSat (VSAT +1.30%) gained over 1% in after-hours trading after it was announced that it will replace Acuity Brands in the S&P MidCap 400 after the close of trading on Monday, May 2.<\/span>
\n AT&T (T -0.31%) slid over 1% in after-hours trading after it reported Q1 adjusted EPS of 72 cents, better than consensus of 69 cents, but said it added a total 129,000 monthly subscribers, fewer than consensus of 283,000.<\/span>
\n Acuity Brands (AYI +1.42%) rose over 1% in after-hours trading after it was announced that Acuity will replace ADT Corp. in the S&P 500 after the close of trading on Monday, May 2.<\/span>
\n H&R Block (HRB -0.92%) tumbled over 6% in after-hours trading after it said it sees fiscal 3016 revenue falling year-on-year after total U.S. assisted tax returns prepared through April 19 fell 5.8%<\/span>
\n Collegium Pharmaceuticals (COLL -2.18%) rallied over 12% in after-hours trading after it received FDA approval for its Xtampza ER drug extended-release capsules.<\/span>
\n Barracuda Networks (CUDA -2.14%) rose over 9% in after-hours trading after it reported Q4 adjusted EPS of 15 cents, well above consensus of 9 cents.<\/span>
\n Wabash National (WNC +4.98%) jumped nearly 13% in after-hours trading after it raised guidance on fiscal 2016 adjusted EPS to $1.65-$1.75 from a February 3 estimate of $1.50-$1.60, higher than consensus of $1.52.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n Buffalo Wild Wings (NASDAQ:BWLD) -12.2%, punished after earnings miss.
\n AT&T (NYSE:T) -0.7%, tops estimates with help from DirecTV.
\n Nabors (NYSE:NBR) sinks 9.9% after weak Q1, warns of reduced rig counts.
\n Fortinet (NASDAQ:FTNT) soars 9.9% following solid earnings beat, strong billings.
\n Chipotle (NYSE:CMG) -4.5% as margins disappear.
\n Capital One (NYSE:COF) -1.6%, misses as charge-offs, provisions rise.
\n eBay (NASDAQ:EBAY) +1.6% after topping consensus.
\n U.S. Steel (NYSE:X) flat after missing on EPS and revenue.
\n Edwards Lifesciences (NYSE:EW) +1.3% following solid growth, raised guidance.
\n Panera Bread (NASDAQ:PNRA) +2.1% after blazing past peers with comparable-store sales.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 8:30 International trade in goods
\n 10:00 Pending Home Sales
\n 10:30 EIA Petroleum Inventories
\n 2:00 PM FOMC Announcement<\/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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Wednesday. Happy FOMC Day. The Asian\/Pacific markets closed mostly down. Singapore, Japan and New Zealand dropped 0.6 – 0.7%. Indonesia gained 0.7%. Europe is currently mixed. Greece is down 3.7%; Poland and the Netherlands are also weak. Norway is up more than 1%; Germany, Austria, Denmark and Portugal are also up. Futures […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9639"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9639"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9639\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}