{"id":9665,"date":"2016-05-09T07:56:24","date_gmt":"2016-05-09T12:56:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9665"},"modified":"2016-05-09T07:56:24","modified_gmt":"2016-05-09T12:56:24","slug":"before-the-open-may-9-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9665","title":{"rendered":"Before the Open (May 9)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. China dropped 2.8%; Indonesia and Malaysia fell more than 1%. India and Singapore rallied more than 1%. Europe<\/strong> is currently mostly up. Germany, France, Belgium, Sweden, Switzerland, Turkey, Denmark and Hungary are up more than 1%. Futures here in the States<\/strong> point towards a slight up open for the cash market. <\/span>
\n—————<\/strong>
\nLB Weekly<\/a> – the indexes, the breadth indicators, a look at the big picture
\n —————<\/strong><\/span>
\nThe dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are up. <\/span>
\n Things get more interesting now. We seem to be at an inflection point. Several indicators have fallen enough to support a rally attempt, so I’m thinking the market bounces or the S&P quickly drops to 2000, which would only be the 38.% retracement level. <\/span>
\n If the market does bounce, it’ll be a perfect time for us to gauge the market’s breadth to determine whether the move is just a bounce within a topping pattern or the beginning of the next leg up. <\/span>
\n If you haven’t like the action over the last six weeks, go find something else to do. A rally followed by six weeks of consolidation is perfectly normal and healthy. In fact over time the market spends more time moving in a range than moving directionally. Establish a trading system for making money in both, and you won’t be frustrated when one switches to the other. That’s it for now. No need for comments beyond the weekly report<\/strong><\/a> posted over the weekend. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Tyson Foods (TSN +1.31%) rose nearly 3% in pre-market trading after it reported Q2 adjusted EPS of $1.07, higher than consensus of 96 cents, and then raised guidance on full-year adjusted EPS to $4.20-$4.30 from a prior estimate of $3.85-$3.95, above consensus of $4.06.<\/span>
\n Altria Group (MO +0.14%) was upgraded to ‘Buy’ from ‘Hold’ at Argus Research with a price target of $68.<\/span>
\n LabStyle Innovations (DRIO +3.45%) was rated a new ‘Buy’ at Rodman & Renshaw with a 12-month price target of $12.<\/span>
\n Silver Wheaton (SLW +2.74%) reported Q1 EPS of 10 cents, below consensus of 12 cents.<\/span>
\n LendingClub (LC +3.65%) slumped 16% in pre-market trading after CEO Renaud Laplanch resigned following an internal review of $22 million in near-prime loans to a single investor.<\/span>
\n Flotek Industries (FTK +1.13%) was upgraded to ‘Buy’ from ‘Speculative Buy’ ay Seaport Global Securities with a 12-month price target of $13.<\/span>
\n Comerica (CMA unch) was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James.<\/span>
\n Kronos Worldwide (KRO +4.38%) reported a Q1 EPS loss of -3 cents, a smaller loss than consensus of -13 cents,<\/span>
\n Apollo Education Group (APOL +1.47%) climbed nearly 2% in after-hours trading after Apollo Education shareholders approved a $10 a share offer from a group led by Apollo Global Management.<\/span>
\n Beazer Homes (BZH +0.42%) gained over 1% in after-hours trading after the chairman of the company, Stephen Zelnak, disclosed a purchase of 55,000 shares May 4-5.<\/span>
\n NorthStar Realty Finance (NRF +2.28%) jumped almost 6% in after-hours trading after Colony Capital said it is in exclusive negotiations with NorthStar Asset Management Group and NRF for a tri-party all stock “at the market” business combination.<\/span>
\n NorthStar Asset Management Group (NSAM +1.01%) surged over 15% in after-hours trading after Colony Capital said it is in exclusive negotiations with NSAM and NorthStar Realty for a tri-party all stock “at the market” business combination.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 5:10 Fed’s Evans speech
\n 10:00 Labor market condition index
\n 12:30 PM TD Ameritrade IMX
\n 1:00 PM Fed’s Kashkari speech<\/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 Monday. Hope you had a good weekend. The Asian\/Pacific markets closed mixed. China dropped 2.8%; Indonesia and Malaysia fell more than 1%. India and Singapore rallied more than 1%. Europe is currently mostly up. Germany, France, Belgium, Sweden, Switzerland, Turkey, Denmark and Hungary are up more than 1%. Futures here in the […]<\/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\/9665"}],"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=9665"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9665\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}