{"id":9658,"date":"2016-05-05T07:50:13","date_gmt":"2016-05-05T12:50:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9658"},"modified":"2016-05-05T07:50:13","modified_gmt":"2016-05-05T12:50:13","slug":"before-the-open-may-5-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9658","title":{"rendered":"Before the Open (May 5)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. India and New Zealand did well; Hong Kong and Malaysia were weak. Many European<\/strong> markets are closed today. Greece, the Czech Republic, Hungary and Spain are doing well; Russia and Poland are weak. Futures in the States<\/strong> point towards an up open for the cash market. <\/span>
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\nThe dollar is up. Oil is up, copper down. Gold and silver are up. Bonds are down. <\/span>
\n Oil is up almost 2 bucks this morning. I guess there’s a wild fire in the heart of Canada’s oil sands, and officials in Libya say fighting between rival factions could pull 120K barrels\/day off the market. Many oil stocks have taken hits lately, so oil bulls will get some relief. <\/span>
\n The selling that has taken place over the last 1-2 weeks has been the most sustained since the February bottom was established. Several short-term breadth indicators have cycled down to lows. <\/span>
\n The percentage of SPX stocks trading above their 10-day moving averages has matched its early-April low.<\/span>
\n\"\"
\n The percentage of SPX stocks trading at a 10-day high dropped to match previous lows from the last two months and is now moving up. <\/span>
\n\"\"
\n And the percentage of Nas 100 stocks above their 10-day MAs has almost matched its February low. <\/span>
\n\"\"
\n This would be a good place for a bounce, but with so much of Europe closed today, volume is likely to be light here in the States…so a bounce won’t have much meaning. And employment numbers get released tomorrow morning – another reason trading may be slow today. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Tesla (TSLA -4.20%) rose 5% in pre-market trading after it said it plans to deliver 80,000 to 90,000 new Model S and Model X vehicles this year and reach 500,000 vehicles by 2018, two years sooner than originally planned.<\/span>
\n McKesson (MCK -1.87%) gained over 1% in after-hours trading after it reported Q4 adjusted EPS of $3.17, higher than consensus of $3.14.<\/span>
\n Kraft Heinz (KHC +1.65%) jumped nearly 5% in after-hours trading after it reported Q1 adjusted EPS of 73 cents, well above consensus of 61 cents.<\/span>
\n MetLife (MET -1.90%) fell nearly 3% in after-hours trading after it reported Q1 operating EPS of $1.20 with a 1 cent net tax benefit, weaker than consensus of $1.38.<\/span>
\n Prudential Financial (PRU -1.55%) lost 3% in after-hours trading after it reported Q1 operating EPS of $2.18, below consensus of $2.37.<\/span>
\n Whole Foods Market (WFM -0.83%) gained nearly 2% in after-hours trading after it reported Q2 EPS of 44 cents, better than consensus of 41 cents.<\/span>
\n TripAdvisor (TRIP -4.10%) dropped over 3% in after-hours trading after it reported Q1 adjusted EPS of 32 cents, well below consensus of 46 cents.<\/span>
\n Weight Watchers International (WTW -1.11%) surged 12% in after-hours trading after it raised guidance on full-year EPS to 80 cents-$1.05 from a February estimate of 70 cents-$1.00.<\/span>
\n Relypsa (RLYP -19.17%) gained nearly 3% in after-hours trading after it reported a Q1 loss of -$1.26, a smaller loss than consensus of -$1.46.<\/span>
\n CenturyLink (CTL +1.24%) slid nearly 4% in after-hours trading after it reported Q1 adjusted EPS of 46 cents, well below consensus of 68 cents.<\/span>
\n TASER International (TASR -0.79%) rose over 4% in after-hours trading after it reported Q1 EPS of 6 cents, higher than consensus of 4 cents.<\/span>
\n ARRIS International PLC (ARRS -0.13%) rallied over 8% in after-hours trading after it reported Q1 adjusted EPS of 47 cents, better than consensus of 40 cents and said it sees Q2 adjusted EPS of 65 cents-70 cents, well above consensus of 56 cents.<\/span>
\n Qorvo (QRVO -1.18%) climbed 7% in after-hours trading after it said it sees Q1 adjusted EPS of $1.05, higher than consensus of 96 cents.<\/span>
\n Fitbit (FIT -0.47%) tumbled over 10% in after-hours trading after it said its sees Q2 adjusted EPS of 8 cents – 11 cents, below consensus of 26 cents and below the lowest estimate of 12 cents.<\/span>
\n EP Energy (EPE +0.23%) jumped nearly 20% in after-hours trading after it reported Q1 adjusted EPS of 19 cents, well above consensus of 1 cent.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n AB Inbev (BUD) -1.6% on unfavorable currency, Brazil turmoil.
\n Annaly Capital (NYSE:NLY) flat AH following in-line results.
\n Delphi Automotive (NYSE:DLPH) -4.2% despite doubling its profits.
\n Energy Transfer Partners (NYSE:ETP) unmoved AH after beating estimates.
\n Fitbit (NYSE:FIT) -10.4% AH following heavy spending.
\n Priceline (NASDAQ:PCLN) -7.5% hammered by weak profit guidance.
\n Shell (NYSE:RDS.A) -2.5% as tumbling oil prices took their toll.
\n Tesla (TSLA) +3.8% AH after a beat and strong guidance.
\n Time Warner (NYSE:TWX) +1.6% driven by Turner and HBO.
\n Transocean (NYSE:RIG) +1.1% AH after topping expectations.
\n Twenty-First Century Fox (NASDAQ:FOXA) swung AH following a mixed quarter.
\n Whole Foods (NASDAQ:WFM) +1.1% AH battling a traffic dip in FQ2.
\n Zynga (NASDAQ:ZNGA) +14.8% AH boosted by big ad gains.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\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 11:50 Fed’s Bullard speech
\n 4:30 Money Supply
\n 4:30 Fed Balance Sheet<\/span><\/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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Thursday. The Asian\/Pacific markets closed mixed. India and New Zealand did well; Hong Kong and Malaysia were weak. Many European markets are closed today. Greece, the Czech Republic, Hungary and Spain are doing well; Russia and Poland are weak. Futures in the States point towards an up open for the cash market.<\/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\/9658"}],"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=9658"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9658\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}