{"id":9871,"date":"2016-08-18T07:51:47","date_gmt":"2016-08-18T12:51:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9871"},"modified":"2016-08-18T07:51:47","modified_gmt":"2016-08-18T12:51:47","slug":"before-the-open-aug-18-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9871","title":{"rendered":"Before the Open (Aug 18)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. Hong Kong and Indonesia gained 1% or more; India, New Zealand and South Korea also did well. Japan fell 1.6%. Europe<\/strong> is currently mostly up, but there are no big winners. Belgium, the Netherlands, Sweden, Greece, Denmark and Finland are doing well. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
\n—————
\nJoin our email list<\/a> – get technical research reports sent directly to you.<\/strong>
\n—————<\/span>
\n The dollar is down. Oil and copper are up. Gold and silver are up. Bonds are up. <\/span>
\n There isn’t much to talk about. We’re getting normal day-to-day news, which is moving prices of individual stocks around, but the overall market is not only trading in a range but is also just alternating between up and down each day. The S&P is virtually unchanged going back two weeks, and prior to that it traded in a range (at a lower level) for three weeks. <\/span>
\n The market will move when it’s ready to move. We have no say in the matter, so we’re best off resting, reading a book or taking advantage of the little extra free time we have due to the lack of good set-ups. Trades often come in bunches – we’ll have many good trades over the course of several weeks and then none while the market chops and churns and resets itself.<\/span>
\n Charlie Munger said: “It takes courage to sit there with all that cash and do nothing. I didn’t get to where I am by going after mediocre opportunities.” <\/span>
\n Gold and silver are looking more interesting. Several stocks have fallen to their 50-day MAs. Otherwise we’d be wise to sit tight and wait for truly great opportunities and pass on many of the mediocre ones. It depends on your trading style. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Wal-Mart (WMT +0.05%) climbed over 3% in pre-market trading after it reported Q2 adjusted EPS of $1.07, better than consensus of $1.02, and then raised guidance on fiscal 2017 adjusted EPS to $4.15-$4.35 from a Feb view of $4.00-$4.30.<\/span>
\n Phillips 66 (PSX -0.35%) was rated anew ‘Buy’ at Stifel with a price target of $59.<\/span>
\n Twitter (TWTR -1.13%) dropped 3% in pre-market trading after it was downgraded to ‘Sell’ from ‘Hold’ at Evercore ISI.<\/span>
\n NetApp (NTAP -0.35%) jumped over 5% in after-hours trading after it reported Q1 adjusted EPS of 46 cents, well above consensus of 36 cents.<\/span>
\n Cisco Systems (CSCO -1.29%) lost nearly 2% in pre-market trading after it said it sees Q1 adjusted ES of 58 cents-60 cents, below consensus of 60 cents, and then said it will cut as many as 5,500 jobs of 7% of its global workforce, citing a “challenging macro environment.”<\/span>
\n Synopsys (SNPS +0.05%) gained 2% in after-hours trading after it reported Q3 adjusted EPS of 76 cents, higher than consensus of 74 cents, and then raised its fiscal 2016 adjusted EPS view to $3.00-$3.03 from a May 18 estimate of $2.95-$3.00.<\/span>
\n L Brands (LB -0.20%) climbed over 3% in after-hours trading after it reported Q2 adjusted EPS of 70 cents, well above consensus of 6 cents, and then raised guidance on full-year adjusted EPS to $3.70-$3.85 from a May 18 view of $3.60-$3.80.<\/span>
\n Agilent Technologies (A +0.31%) dropped 5% in after-hours trading after it reported Q3 revenue of $1,04 billion, less than consensus of $1.05 billion, and said it sees Q4 adjusted EPS of 50 cents-52 cents, weaker than consensus of 64 cents.<\/span>
\n Briggs & Stratton (BGG -1.53%) slumped nearly 15% in after-hours trading after it reported Q4 adjusted EPS of 46 cents, below consensus of 54 cents.<\/span>
\n Arrowhead Pharmaceuticals (ARWR +2.76%) was rated a new ‘Buy’ at Cantor Fitzgerald with a 12-month target price of $15.<\/span>
\n SpartanNash (SPTN -1.82%) reported Q2 adjusted EPS continuing operations of 58 cents, better than con-sensus of 57 cents.<\/span>
\n YY Inc. (YY +1.03%) rose over 2% in after-hours trading after it said Q2 earnings\/ADS were 90 cents, up +17.1% y\/y.<\/span>
\n Keysight Technologies (KEYS +0.27%) tumbled nearly 9% in after-hours trading after it said it sees Q4 ad-justed revenue of $715 million-$755 million, below consensus of $756.4 million.<\/span>
\n Accuray (ARAY +4.93%) sank over 10% in after-hours trading after it said it sees full-year revenue of $410 million-$420 million, below consensus of $431.9 million.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n Cisco (CSCO) -1.7% AH confirming 5,500 layoffs.
\n Lowe’s (NYSE:LOW) -5.7% after missing estimates.
\n NetApp (NASDAQ:NTAP) +7.5% AH beating expectations.
\n Staples (NASDAQ:SPLS) -7.1% on slowing sales.
\n Target (TGT) -6.4% cutting full-year guidance.<\/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 9:45 Bloomberg Consumer Comfort Index
\n 10:00 Fed’s Dudley Speech
\n 10:00 Leading Indicators
\n 10:30 EIA Natural Gas Inventory
\n 4:00 PM Fed’s Williams: Economic Outlook
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/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 mostly up. Hong Kong and Indonesia gained 1% or more; India, New Zealand and South Korea also did well. Japan fell 1.6%. Europe is currently mostly up, but there are no big winners. Belgium, the Netherlands, Sweden, Greece, Denmark and Finland are doing well. Futures 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\/9871"}],"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=9871"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9871\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}