{"id":9711,"date":"2016-05-27T07:49:44","date_gmt":"2016-05-27T12:49:44","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9711"},"modified":"2016-05-27T07:49:44","modified_gmt":"2016-05-27T12:49:44","slug":"before-the-open-may-27-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9711","title":{"rendered":"Before the Open (May 27)"},"content":{"rendered":"

Good morning. Happy Friday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Singapore and India gained more than 1%; Taiwan, Indonesia, New Zealand, South Korea and Hong Kong also did well. Europe<\/strong> is currently mixed and little changed. There are no big movers. Switzerland, Hungary and Spain are up; Norway and Portugal are down. Futures here in the States<\/strong> point towards a slight up open for the cash market. <\/span>
\nThe dollar is up. Oil is down; copper is up. Gold and silver are down small amounts. Bonds are down. <\/span>
\n This is what the S&P has done the last two days. Other than Wednesday’s open, it’s moved in an 8-point range and has made no attempts to move up or down. I expect the same today ahead of the 3-day holiday weekend. <\/span>
\n\"\"
\n Overall we have a lot of mixed signals… <\/span>
\n The indexes are range bound, and beneath the surface, the breadth indicators are mixed and mostly neutral. These don’t tell us a breakout (in either direction) is imminent. <\/span>
\n Groups are also mixed. Semiconductors (risk on) have done well lately; utilities (risk off) are nicely poised to breakout and run. <\/span>
\n\"\"
\n Call them mixed signals or cross-currents. The only movement that is supported right now is a continuation of the range. <\/span>
\n Have a great day. Enjoy the extra day off. If you’re not around today, we’ll see you Tuesday. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Ulta Salon Cosmetics & Fragrance (ULTA +1.05%) rallied nearly 8% in pre-market trading after it reported Q1 EPS of $1.45, higher than consensus of $1.29, and said it sees full-year EPS growth in the low twenties percentage range versus a prior view of up 18%-20%.<\/span>
\n Monsanto (MON -1.84%) was downgraded to ‘Neutral’ from ‘Overweight’ at Atlantic Equities with a 12-month price target of $105.<\/span>
\n GameStop (GME +0.84%) dropped over 8% in after-hours trading after it said it sees Q2 adjusted EPS of 23 cents-30 cents, below consensus of 33 cents.<\/span>
\n Duluth Holdings (DLTH -0.96%) was rated a new ‘Buy’ at Stifel with a 12-month price target of $28.<\/span>
\n Terex (TEX -3.45%) was downgraded to ‘Hold’ from ‘Buy’ at Evercore ISI with a 12-month price target of $21.<\/span>
\n Caleres (CAL +1.16%) lost 1% in after-hours trading after it reported Q1 EPS of 41 cents, below consensus of 43 cents, and then lowered guidance on full-year revenue to $2.60 billion-$2.63 billion from a March 15 view of $2.65 billion-$2.68 billion, below consensus of $2.66 billion.<\/span>
\n Veeva Systems (VEEV -0.43%) jumped 10% in after-hours trading after it reported Q1 adjusted EPS of 15 cents, higher than consensus of 11 cents, and then raised its full-year revenue estimate to $516 million-$520 million from a prior view of $508 million-$513 million, above consensus of $512.1 million.<\/span>
\n Palo Alto Networks (PANW +1.71%) sank 11% in pre-market trading after it reported Q3 adjusted EPS of 42 cents, right on consensus, but said it sees Q4 adjusted EPS of 48 cents-50 cents, below consensus of 50 cents.<\/span>
\n Deckers Outdoor (DECK +0.61%) fell over 2% in after-hours trading after it said it sees full-year net sales of unchanged to down -3%, weaker than estimates of up +2%, and then lowered guidance on full-year adjusted EPS to $4.05-$4.40, below consensus of $4.61.<\/span>
\n First Data Corp. (FDC +1.39%) gained 1% in after-hours trading after Vice Chairman Plumeri disclosed a purchase of 250,000 shares of the company’s stock on Wednesday.<\/span>
\n BG Staffing (BGSF -0.24%) slumped over 14% in after-hours trading after it announced a public offering of stock, although no terms were available at the time of this writing.<\/span>
\n 21Vianet Group (VNET +6.09%) slid 4% in after-hours trading after it reported a Q1 adjusted loss\/Ads of 13 cents and Q1 gross margins of 19.6% versus 26.8% y\/y.<\/span>
\n Splunk (SPLK +1.05%) dropped over 7% in after-hours trading despite reporting a -2 cent Q1 adjusted EPS loss, right on consensus.<\/span>
\n Titan Pharmaceuticals (TTNP +1.29%) surged 23% in after-hours trading after it said it will receive a $15 million payment from partner Braeburn Pharma, double-digit royalties and up to $165 million is sales milestones following FDA approval of its Probuphine implant.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n AutoZone (NYSE:AZO) +3% on rising same-store sales.
\n Best Buy (NYSE:BBY) -7.5% after disappointing guidance.
\n HP Enterprise (NYSE:HPE) +10.9%; Computer Sciences (NYSE:CSC) +27.7% AH on their spinoff\/merger plans.
\n Intuit (NASDAQ:INTU) -2.2% AH despite a strong tax season.
\n Toll Brothers (NYSE:TOL) +8.7% as home prices increased.<\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 GDP Q1
\n 8:30 Corporate Profits
\n 10:00 Reuters\/UofM Consumer Sentiment
\n 1:00 PM Baker-Hughes Rig Count
\n 11:30 Janet Yellen<\/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 mostly up. Singapore and India gained more than 1%; Taiwan, Indonesia, New Zealand, South Korea and Hong Kong also did well. Europe is currently mixed and little changed. There are no big movers. Switzerland, Hungary and Spain are up; Norway and Portugal are down. Futures here in […]<\/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\/9711"}],"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=9711"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9711\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}