{"id":9869,"date":"2016-08-17T07:53:07","date_gmt":"2016-08-17T12:53:07","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9869"},"modified":"2016-08-17T07:53:07","modified_gmt":"2016-08-17T12:53:07","slug":"before-the-open-aug-17-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9869","title":{"rendered":"Before the Open (Aug 17)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed, but there were no big winners or losers. Japan and New Zealand did well; Hong Kong and Singapore closed down. Europe<\/strong> is currently mostly down. Germany, Austria, Spain and Italy are down more than 1%; most of the rest of Europe (France, Belgium, the Netherlands, Norway, Sweden, the Czech Republic, Greece, Poland, Denmark and Finland) is down moderately. Turkey is up. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
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\n The dollar is up a small amount. Oil and copper are down. Gold and silver are down. Bonds are up. <\/span>
\n The market actually posted a moderate loss yesterday. In the grand scheme of things it completely meaningless. It was just a down day within a market that is churning its way up. Now we’ll see if we get two consecutive down days – an occurrence that has only happened once since the Brexit vote. <\/span>
\n You can tell I’m splitting hairs here. This is the summer doldrums; nothing is going on. The indexes are making higher highs on a weekly basis. The intraday ranges are small; volume is light. A simply moderate down day gets our attention because there have been so few lately. <\/span>
\n Today we get the FOMC minutes from the last Fed meeting. There’s been more chatter about a rate hike in September, so the release will give us a glimpse of what Fed officials were thinking. <\/span>
\n Beyond that the market isn’t doing much, and it’s impossible to guess when it’ll suddenly come to life. There are pockets of activity – we’ve gotten off some good trades and many others have been posted on the Message Board – but overall things are slow. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Target (TGT -0.07%) fell over 3% in pre-market trading after it cut its fiscal 2017 adjusted EPS view to $4.80-$5.20 from a February view of $5.20-$5.40.<\/span>
\n Lowe’s (LOW -0.07%) tumbled nearly 7% in pre-market trading after it reported Q2 adjusted EPS of $1.37, weaker than consensus of $1.42.<\/span>
\n Mosaic (MOS -1.27%) was downgraded to ‘Neutral’ from ‘Positive’ at Susquehanna.<\/span>
\n Pioneer Natural Resources (PXD -0.21%) was rated a new ‘Outperform’ at Bernstein.<\/span>
\n Jack Henry & Associates (JKHY -0.52%) reported Q4 adjusted EPS of 84 cents, excluding gain on sale, bet-ter than consensus of 80 cents.<\/span>
\n Southern Co. (SO -1.03%) lost nearly 2% in after-hours trading after it started a 32.5 million-share offering.<\/span>
\n Popeye\u2019s Louisiana Kitchen (PLKI +2.70%) lost nearly 2% in after-hours trading after it reported Q2 compa-rable sales were up +0.7%, weaker than consensus of +1.8%, and reported Q2 revenue of $61.7 mil-lion, below consensus of $63.3 million.<\/span>
\n Cree (CREE -2.00%) fell 9% in pre-market trading after it reported Q4 adjusted EPS of 19 cents, weaker than consensus of 20 cents, and then said it sees Q1 adjusted EPS of 10-cents-16 cents, below consen-sus of 21 cents.<\/span>
\n Urban Outfitters (URBN unch) rallied 12% in pre-market trading after it reported Q2 EPS of 66 cents, better than consensus of 55 cents.<\/span>
\n Dycom Industries (DY -2.89%) will replace FirstMerit in the S&P MidCap 400 after the close of trading, Thursday, Aug 18.<\/span>
\n OSI Systems (OSIS -2.74%) gained over 6% in after-hours trading after it reported Q4 adjusted EPS of 55 cents, better than consensus of 49 cents, and then raised guidance on 2017 adjusted EPS to $2.60-$2.90, higher than consensus of $2.42.<\/span>
\n Barnes & Noble (BKS -1.04%) said that CEO Ronald Boire will leave and its board determined that he was “not a good fit” for the company.<\/span>
\n Wildan (WLDN +0.41%) jumped nearly 7% in after-hours trading after it was awarded a 3-year $35.4 million contract by a “leading” utility in the western U.S. to implement its small business direct install and in-dustrial sector energy efficiency program.<\/span>
\n Tuesday’s Key Earnings<\/strong>
\n Home Depot (NYSE:HD) -0.6% on slowing sales growth.
\n TJX Companies (NYSE:TJX) -5.8% following weak guidance.<\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 10:00 Atlanta Fed’s Business Inflation Expectations
\n 10:30 EIA Petroleum Inventories
\n 1:00 PM Fed’s Bullard speech
\n 2:00 PM FOMC minutes<\/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 Wednesday. The Asian\/Pacific markets closed mixed, but there were no big winners or losers. Japan and New Zealand did well; Hong Kong and Singapore closed down. Europe is currently mostly down. Germany, Austria, Spain and Italy are down more than 1%; most of the rest of Europe (France, Belgium, the Netherlands, Norway, […]<\/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\/9869"}],"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=9869"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9869\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}