{"id":9813,"date":"2016-07-21T07:42:21","date_gmt":"2016-07-21T12:42:21","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9813"},"modified":"2016-07-21T07:42:21","modified_gmt":"2016-07-21T12:42:21","slug":"before-the-open-jul-21-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9813","title":{"rendered":"Before the Open (Jul 21)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Hong Kong, Japan, New Zealand and Taiwan did well. India and Malaysia were weak. Europe<\/strong> is currently mixed. Switzerland is up more than 3%; Norway, Russia and Hungary are also doing well. Turkey is down more than 3%; Sweden and Denmark are also doing poorly. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
\n—————
\n List of Indexes and ETFs – <\/strong> here<\/a>
\n—————<\/span>
\n The dollar is down. Oil is down slightly; copper is flat. Gold is flat; silver is down. Bonds are down. <\/span>
\n Several indexes moved to new all-time highs yesterday. A few others pushed to higher highs. The small and mid caps are doing very well but are still trading in little consolidation patterns. <\/span>
\n Semiconductors put in a solid day and are not far from their own all-time high. <\/span>
\n Commodities are weakening. Oil has been drifting down for six weeks. Gold and silver stocks, after trading very quietly in small ranges, finally let out some air and suffered a stiff drop. I still like the groups a lot but am standing aside in the near term. <\/span>
\n Tesla has unveiled its master plan going forward. Wall St. is not entirely impressed…or perhaps it already knew what the plan was. The stock is down a couple bucks premarket. It’s time for TSLA to execute. No more smoke and mirrors. It’s time to start pumping out cars. <\/span>
\n Including dividends, Microsoft moved to a new all-time high yesterday. <\/span>
\n There isn’t much to dislike about the market. The charts are doing very well. The internals support the strength. There seems to be a constant wall of worry present. If tops are formed when investors get euphoric and start buying at any price, we’re far from a top. There is very little excitement and enthusiasm out there. <\/span>
\n My bias remains to the upside. I see no reason to abandon this stance. Yes there will be hiccups along the way, but I still fully the S&P is headed to 2300-2400. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Intel (INTC +1.54%) lost 3% in pre-market trading after it reported Q2 adjusted EPS of 59 cents, higher than consensus of 54 cents, but said it remains cautious on the PC market and forecasts a high-single-digit PC market contraction in 2016.<\/span>
\n Qualcomm (QCOM +1.23%) jumped nearly 7% in after-hours trading after it reported Q3 adjusted EPS of $1.16, well above consensus of 97 cents.<\/span>
\n eBay (EBAY +1.85%) rallied nearly 6% in after-hours trading after it reported Q2 adjusted EPS continuing operations of 43 cents, higher than consensus of 42 cents and then added $2.5 billion to its stock buyback plan.<\/span>
\n Relypsa (RLYP +1.31%) surged over 50% in pre-market trading after Galencia agreed to buy it for $1.53 billion or $32 a share.<\/span>
\n Mattel (MAT +1.42%) rose nearly 4% in after-hours trading after it reported a Q2 adjusted EPS loss of -2 cents, a smaller loss than consensus of -5 cents<\/span>
\n Joy Global (JOY +1.07%) jumped 20% in pre-market trading after Komatsu Ltd. agreed to buy the company for $2.89 billion or $28.30 a share.<\/span>
\n United Rentals (URI +2.84%) jumped 9% in after-hours trading after it reported Q2 adjusted EPS of $2.06, well above consensus of $1.82.<\/span>
\n F5 Networks (FFIV +0.72%) climbed 3% in after-hours trading after it reported Q3 adjusted EPS of $1.81, above consensus of $1.79, and said it sees Q4 adjusted EPS of $1.92-$1.95, stronger than consensus of $1.92.<\/span>
\n Kinder Morgan Inc\/DE (KMI +0.68%) slid over 1% in after-hours trading after it reported Q2 revenue of $3.14 billion, below consensus of $3.41 billion.<\/span>
\n Trueblue (TBI +1.23%) gained almost 5% in after-hours trading after it reported Q2 adjusted EPS of 51 cents, better than consensus of 43 cents, and said it sees Q3 adjusted EPS of 73 cents-78 cents, higher than consensus of 67 cents.<\/span>
\n IMAX Corp. (IMAX -0.17%) gained over 4% in after-hours trading after it reported Q2 adjusted EPS of 18 cents, higher than consensus of 17 cents, and raised its 2016 installation view to 155 theaters from a prior estimate of 135-140 theaters<\/span>
\n PTC Inc. (PTC +1.33%) climbed nearly 4% in after-hours trading after it reported Q3 adjusted revenue of $289.7 million, above consensus of $288 million.<\/span>
\n Tractor Supply (TSCO +0.16%) slipped 2% in after-hours trading after it reported Q2 EPS of $1.16 and Q2 revenue of $1.85 billion, both right on expectations.<\/span>
\n Newmont Mining (NEM -5.07%) rose over 2% in after-hours trading after it reported Q2 sales of $2.04 billion, stronger than consensus of $1.91 billion.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n Abbott (NYSE:ABT) +2% after topping expectations.
\n American Express (NYSE:AXP) -0.9% AH on strength overseas.
\n eBay (NASDAQ:EBAY) +6.9% AH on heavy sales gains.
\n Halliburton (NYSE:HAL) -1.6% after swinging to a loss.
\n Intel (NASDAQ:INTC) -3.4% AH hurt by restructuring costs.
\n Kinder Morgan (NYSE:KMI) -1.3% AH maintaining its dividend.
\n Mattel (NASDAQ:MAT) +3.5% AH following Barbie improvements.
\n Morgan Stanley (NYSE:MS) +2.1% after beating estimates.
\n Newmont Mining (NYSE:NEM) +1.8% AH improving production.
\n Qualcomm (NASDAQ:QCOM) +7.9% AH on strong chip shipments.
\n SAP (NYSE:SAP) +5.5% following an impressive quarter. <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Initial Jobless Claims
\n 8:30 Philly Fed Business Outlook
\n 8:30 Chicago Fed National Activity Index
\n 9:00 FHFA House Price Index
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:00 Existing Home Sales
\n 10:00 Leading Indicators
\n 10:30 EIA Natural Gas Inventory
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/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. Hong Kong, Japan, New Zealand and Taiwan did well. India and Malaysia were weak. Europe is currently mixed. Switzerland is up more than 3%; Norway, Russia and Hungary are also doing well. Turkey is down more than 3%; Sweden and Denmark are also doing poorly. 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\/9813"}],"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=9813"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9813\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}