{"id":9646,"date":"2016-04-29T08:00:20","date_gmt":"2016-04-29T13:00:20","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9646"},"modified":"2016-04-29T08:00:20","modified_gmt":"2016-04-29T13:00:20","slug":"before-the-open-apr-29-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9646","title":{"rendered":"Before the Open (Apr 29)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. Hong Kong and Taiwan dropped more than 1%; Singapore was also weak. Australia and New Zealand did okay. Europe<\/strong> is currently mostly down. Germany, France, Sweden, Switzerland, the Netherlands and Spain are down more than 1%. Futures here in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up. Bonds are down. <\/span>
\n The market posted a solid loss yesterday on its biggest volume day of the month. Lots of people are coming out of the woodwork predicting a correction. Is it possible? Yeah I guess, but let’s remember the market hasn’t even put in back-to-back down days in almost four weeks. Tops take time to form, so even if the FOMC did act as an inflection point and a pullback is in the beginning stages, there’ll be some back and forth movement first. The market isn’t going to just drop unless there’s a major news event which changes Wall St’s psychology. <\/span>
\n Many tech stocks have suffered big drops after releasing earnings. Today we’ll get a break from that. AMZN, EXPE, P and LNKD are set to gap up big. <\/span>
\n Today is the last trading day of April. Then starts the “sell in May and go away” period. It’s a real phenomenon. The market really does do significantly worse May-September than the other months of the year. It’s not a reason to just to abandon all longs, and it’s definitely not a reason to go short. But it’s something to keep in mid. Here’s a chart with some old data. <\/span>
\n\"\"
\n I’ve had a defensive posture for a couple weeks, and as of yesterday’s close, the S&P was flat over the previous month. Most of my activity has been in oil…and then I’ve had a few gold\/silver and steel plays. But my focus and energy have been in oil, and it’s treated me well. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Gilead (GILD -3.69%) dropped over 4% in pre-market trading after it reported Q1 adjusted EPS of $3.03, below consensus of $3.15, as sales of Harvoni were only $3.02 billion, below estimates of $3.17 billion.<\/span>
\n Amazon.com (AMZN -0.75%) rallied 13% in pre-market trading after it reported Q1 revenue of $29.1 billion, higher than consensus of $27.97 billion, and said it sees Q2 revenue of $28 billion-$30.5 billion, above consensus of $28.3 billion.<\/span>
\n Expedia (EXPE -0.72%) rallied over 10% in after-hours trading after it reported an unexpected Q1 adjusted EPS profit of 6 cents, better than consensus of a 6 cent loss.<\/span>
\n LinkedIn (LNKD +3.50%) gained almost 7% in after-hours trading after it reported Q1 adjusted EPS of 74 cents, well above consensus of 60 cents.<\/span>
\n Skyworks Solutions (SWKS -0.75%) slipped over 3% in after-hours trading after it reported Q2 adjusted EPS of $1.25, below consensus of $1.32, and said it sees Q3 adjusted EPS of $1.21, weaker than consensus of $1.32.<\/span>
\n Outerwall (OUTR -5.02%) jumped over 8% in after-hours trading after it reported Q1 core EPS from continuing operations of $2.44, well above consensus of $1.33.<\/span>
\n Pandora Media (P -0.11%) rose over 6% in after-hours trading after it reported a Q1 adjusted EPS loss of 20 cents, narrower than consensus of 32 cents<\/span>
\n Molina Healthcare (MOH -1.53%) slumped over 11% in after-hours trading after it reported Q1 adjusted EPS of 51 cents, well below consensus of 81 cents, and then lowered guidance on 2016 adjusted EPS to $2.50-$2.95 from a previous forecast of $3.86.<\/span>
\n B&G Foods (BGS -0.45%) rose 6% in after-hours trading after it reported Q1 adjusted EPS of 65 cents, higher than consensus of 51 cents, and then raised guidance on 2016 adjusted EPS to $2.05-$2.15 from a March 15 forecast of $1.90-$2.00.<\/span>
\n Synaptics (SYNA -5.62%) tumbled over 12% in after-hours trading after it reported Q3 adjusted EPS of $1.21, well below consensus of $1.51, and said it sees Q4 revenue of $300 million-$340 million, well below consensus of $478.9 million.<\/span>
\n Regal Entertainment Group (RGC +1.12%) gained nearly 4% in after-hours trading after it reported Q1 adjusted EPS of 27 cents, better than consensus of 25 cents.<\/span>
\n Qlik Technologies (QLIK +3.25%) rose over 3% in after-hours trading after it raised guidance on fiscal year adjusted EPS to 42 cents-45 cents from a February 11 estimate of 41 cents-44 cents.<\/span>
\n NeoPhotonics (NPTN -3.75%) sank over 12% in after-hours trading after it reported Q1 adjusted EPS of 15 cents, higher than consensus of 14 cents, but said it sees Q2 adjusted EPS of 8 cents-15 cents, weaker than consensus of 17 cents.<\/span>
\n Gigamon (GIMO -3.52%) jumped over 10% in after-hours trading after it reported Q1 adjusted EPS of 22 cents, higher than consensus of 18 cents.<\/span>
\n NeuStar (NSR -1.67%) slumped over 10% in after-hours trading after it said it sees fiscal year revenue of $1.22 billion-$1.24 billion, below the midpoint estimate of $1.24 billion.<\/span>
\n Friday’s Key Earnings<\/strong>
\n Outerwall (NASDAQ:OUTR) +8% with the bottom line improved.
\n Western Digital (NASDAQ:WDC) -4% after missing on both lines of its report.
\n Baidu (NASDAQ:BIDU) +6% after revenue popped 31%.
\n SkyWest (NASDAQ:SKYW) +9% with profit soaring.
\n Groupon (NASDAQ:GRPN) +4% after boosting EBITDA guidance.
\n LinkedIn (NYSE:LNKD) +12% after a stronger-than-expected report.
\n Pandora (NYSE:P) +6% with listening hours on the rise.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 6:30 Fed’s Kaplan: Monetary Policy
\n 8:30 Personal Income and Outlays
\n 8:30 Employment Cost Index
\n 9:45 Chicago PMI
\n 10:00 Consumer Sentiment
\n 1:00 PM Baker-Hughes Rig Count
\n 3:00 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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Friday. The Asian\/Pacific markets closed with a lean to the downside. Hong Kong and Taiwan dropped more than 1%; Singapore was also weak. Australia and New Zealand did okay. Europe is currently mostly down. Germany, France, Sweden, Switzerland, the Netherlands and Spain are down more than 1%. Futures here in the States […]<\/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\/9646"}],"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=9646"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9646\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}