{"id":9882,"date":"2016-08-24T07:50:38","date_gmt":"2016-08-24T12:50:38","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9882"},"modified":"2016-08-24T07:50:38","modified_gmt":"2016-08-24T12:50:38","slug":"before-the-open-aug-24-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9882","title":{"rendered":"Before the Open (Aug 24)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. Japan and Singapore did well; Hong Kong and New Zealand did poorly. Europe<\/strong> is currently mostly up, but gains are small. France, Austria, Sweden, the Czech Republic, Spain and Italy are leading. Turkey is down almost 2%; Greece and Russia are also weak. Futures in the States<\/strong> point towards a slight positive open for the cash market. <\/span>
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\n The dollar is up. Oil and copper are down. Gold and silver are down. Bonds are up. <\/span>
\n The S&P continues to trade very quietly. Most of the last six weeks have been spent in one of two very tight ranges which have brought the ATR (14) and Bollinger Band Width (20,2) down to 2-year lows. Here’s the daily. Getting a 10-15 intraday range used to be normal for the index. Now, even though it’s at an all-time high and a 10-point range is very small (relatively speaking), we’re still not getting it on most days. <\/span>
\n\"\"
\n Don’t over-analyze. The market will move when it’s ready to move. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Garmin Ltd. (GRMN +0.96%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs.<\/span>
\n CST Brands (CST +0.30%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo.<\/span>
\n SEACOR Holdings (CKH +0.88%) was rated a new ‘Buy’ at Stifel with a 12-month price target of $70.<\/span>
\n Dycom Industries (DY +0.70%) dropped 4% in after-hours trading after it said the recently acquired operations of Goodman Networks is now expected to produce lower revenue in fiscal 2017 than initially anticipated.<\/span>
\n Lannett (LCI +2.83%) surged nearly 15% in after-hours trading after it reported Q4 adjusted EPS of 73 cents, well above consensus of 59 cents, and then raised its fiscal 2017 revenue estimate to $690 million-$700 million from a prior view of $665.4 million.<\/span>
\n Intuit (INTU +1.16%) fell over 4% in pre-market trading after it said that it sees Q1 revenue of $740 million-$760 million, below consensus of $771.9 million.<\/span>
\n Wabash National (WNC +0.89%) climbed over 2% in after-hours trading after it was announced that it will replace Enersys in the S&P SmallCap 600 after the close of trading on Thursday, August 25.<\/span>
\n OraSure Technologies (OSUR +0.14%) jumped over 9% in after-hours trading after it said it received a 6-year contract worth up to $16.6 million from the U.S. Department of Health and Human Services to advance the company’s rapid Zika tests.<\/span>
\n La-Z-Boy (LZB +3.59%) tumbled 15% in after-hours trading after it reported Q1 EPS of 28 cents, weaker than consensus of 29 cents.<\/span>
\n Nimble Storage (NMBL +1.73%) gained over 2% in after-hours trading after it reported a Q2 adjusted loss of 018 cents, a smaller loss than consensus of -20 cents.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 7:00 MBA Mortgage Applications
\n 9:00 FHFA House Price Index
\n 10:00 Existing Home Sales
\n 10:30 EIA Petroleum Inventories
\n 11:30 Results of $13B, 2-Year FRN Auction
\n 1:00 PM Results of $34B, 5-Year Note Auction Companies reporting earnings <\/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 Wednesday. The Asian\/Pacific markets closed with a lean to the downside. Japan and Singapore did well; Hong Kong and New Zealand did poorly. Europe is currently mostly up, but gains are small. France, Austria, Sweden, the Czech Republic, Spain and Italy are leading. Turkey is down almost 2%; Greece and Russia are […]<\/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\/9882"}],"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=9882"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9882\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}