{"id":9815,"date":"2016-07-22T07:53:43","date_gmt":"2016-07-22T12:53:43","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9815"},"modified":"2016-07-22T07:53:43","modified_gmt":"2016-07-22T12:53:43","slug":"before-the-open-jul-22-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9815","title":{"rendered":"Before the Open (Jul 22)"},"content":{"rendered":"

Good morning. Happy Friday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. Japan dropped more than 1%; China and Taiwan were also weak. Europe<\/strong> is currently mixed and little changed from its unchanged level. Turkey, Finland, the Czech Republic and Austria are up; Poland and Norway are down. Futures in the States<\/strong> point towards a positive open for the cash market. <\/span>
\n—————
\n List of Indexes and ETFs – <\/strong> here<\/a>
\n—————<\/span>
\n The dollar is down. Oil and copper are up small amounts. Gold and silver are down. Bonds are down. <\/span>
\n The market actually posted a decent loss yesterday on it strongest volume day of the week. So far this week we’ve gotten two up days and two down days, and the S&P is up 3.4 points. A down day today who mean the first back-to-back down days since the Brexit vote, and a moderate down day would put an end to the 3-week win streak. <\/span>
\n None of this changes anything. Even though the market has gone straight up the last month, this kind of movement won’t last. Healthy markets back and fill and cause a little doubt before continuing. Heck, the S&P could drop all the way back to 2100, and the uptrend would remain solidly in place. <\/span>
\n The hardest part of dealing with the market recently is it’s been very boring, very dull. We’re getting gap opens but then very little intraday movement. A 10-point intraday move, which is on the low side historically, is exciting. But most days don’t even give us 10 points, and when you consider the level the S&P is at, the percentage move is tiny (a 10-point move when the S&P was at 1200 is significantly bigger than a 10-point move today). <\/span>
\n Bias remains to the upside. Earnings are moving individual stocks in both directions, so know your risk if you choose to hold into a report. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Advanced Micro Devices (AMD -3.51%) jumped nearly 10% in pre-market trading after it reported Q2 revenue of $1.03 billion, above consensus of $956.2 million.<\/span>
\n Starbucks (SBUX +0.10%) dropped nearly 3% in pre-market trading after it reported Q3 comparable sales of +4%, weaker than consensus of +5.6%, and said it now expects full year global comparable sales growth to be mid-single digits, below a prior view of above mid-single digits.<\/span>
\n Capital One Financial (COF +0.56%) slid nearly 3% in after-hours trading after it reported Q2 adjusted EPS of $1,76, below consensus if $1.87.<\/span>
\n Skechers (SKX -0.31%) tumbled nearly 10% in pre-market trading after it reported Q2 revenue of $877.8 million, below consensus of $890.6 million, and said it sees Q3 revenue of $950 million-$975 million, weaker than consensus of $1.01 billion.<\/span>
\n Visa (V -0.72%) reported Q3 adjusted EPS of 69 cents, higher than consensus of 67 cents, and authorized anew $5 billion share repurchase program.<\/span>
\n PayPal (PYPL +0.20%) rose 2% in after-hours trading after it said it sees Q3 net revenue of $2.62 billion-$2.67 billion, above consensus of $2.61 billion, and then raised guidance on fiscal 2016 adjusted EPS to $1.47-$1.50 from an April 27 view of $1.45-$1.50.<\/span>
\n Athenahealth (ATHN -1.00%) slumped 12% in after-hours trading after it reported Q2 adjusted EPS o 34 cents, below consensus of 42 cents.<\/span>
\n Chipotle Mexican Grill (CMG -0.38%) dropped over 2% in after-hours trading after it reported Q2 EPS of 87 cents, below consensus of 91 cents, and said Q2 comparable sales fell -23.6%, weaker than consensus of -20.6%.<\/span>
\n Stryker (SYK +0.16%) slipped 4% in after-hours trading after it said it sees Q3 adjusted EPS of $1.33-$1.38, below consensus of $1.41.<\/span>
\n Celestica (CLS +0.10%) climbed over 2% in after-hours trading after it reported Q2 revenue of $1.49 billion, above consensus of $1.46 billion, and said it sees Q3 revenue of $1.475 billion-$1,575 billion, higher than consensus of $1.46 billion.<\/span>
\n Boston Beer (SAM -0.75%) rose over 2% in after-hours trading after it reported Q2 EPS of $2.06, better than consensus of $1.94.<\/span>
\n Pandora Media (P -2.83%) dropped 6% in after-hours trading after it cut its 2016 revenue view to $1.385 billion-$1.405 billion from an April 28 view of $1.41 billion-$143 billion.<\/span>
\n E*TRADE Financial Corp. (ETFC -0.94%) gained nearly 2% in after-hours trading after it reported Q2 adjusted EPS of 48 cents, well above consensus of 38 cents.<\/span>
\n Proofpoint (PFPT -4.35%) jumped over 11% in after-hours trading after it reported an unexpected Q2 EPS profit of 6 cents, much better than consensus for a -7 cent loss, and then raised guidance on fiscal 2016 adjusted EPS to 6 cents-10 cents from an April 21 view of a loss of -13 cents to -15 cents.<\/span>
\n Thursday’s Key Earnings<\/strong>
\n AMD (NASDAQ:AMD) +9.8% AH swinging to a profit.
\n AT&T (NYSE:T) -0.9% AH despite DirecTV gains.
\n Biogen (NASDAQ:BIIB) +7.6% after topping expectations.
\n Blackstone (NYSE:BX) +3.8% boosted by an energy rebound.
\n Chipotle (NYSE:CMG) -1.2% AH failing to win back customers.
\n Dunkin’ Brands (NASDAQ:DNKN) -0.7% feeling the breakfast heat.
\n General Motors (GM) +1.6% raising its forecast for 2016.
\n Pandora (NYSE:P) -8.8% AH amid lackluster subscription growth.
\n PayPal (NASDAQ:PYPL) +1.5% AH announcing a partnership with Visa (NYSE:V).
\n Schlumberger (NYSE:SLB) -0.4% AH posting a loss and more job cuts.
\n Skyworks Solutions (NASDAQ:SWKS) -3.5% AH despite beating estimates.
\n Southwest Airlines (NYSE:LUV) -11.2% following a downbeat outlook.
\n Starbucks (NASDAQ:SBUX) -2.8% AH on disappointing comparable sales.
\n Union Pacific (NYSE:UNP) -3.4% as freight revenues declined.
\n Visa (V) flat AH despite higher payments volume.<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 9:45 PMI Manufacturing Index Flash
\n 1:00 PM Baker-Hughes Rig Count<\/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 down. Japan dropped more than 1%; China and Taiwan were also weak. Europe is currently mixed and little changed from its unchanged level. Turkey, Finland, the Czech Republic and Austria are up; Poland and Norway are down. Futures in the States point towards a positive open […]<\/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\/9815"}],"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=9815"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9815\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}