{"id":9890,"date":"2016-08-29T07:53:56","date_gmt":"2016-08-29T12:53:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9890"},"modified":"2016-08-29T07:53:56","modified_gmt":"2016-08-29T12:53:56","slug":"before-the-open-aug-29-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9890","title":{"rendered":"Before the Open (Aug 29)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly down. Singapore, Indonesia and Australia dropped the most. Japan rallied 2.3%. Europe<\/strong> is currently mostly down. Greece and Italy are down more than 1%; Germany, France, Belgium, the Netherlands, Norway, Russia, Turkey, Finland and Spain are also weak. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
\n—————
\nLB Weekly<\/a> – the indexes, the breadth indicators, a look at the big picture
\n—————<\/span>
\n The dollar is up. Oil and copper are down. Gold and silver are down. Bonds are up. <\/span>
\n As is typically the case on a Monday morning I don’t have anything major to add to the comments made in the LB Weekly<\/a> published yesterday morning. <\/span>
\n The market is doing fine overall, but in the near term things have softened. Numerous indicators now lean towards the market pulling back some.<\/span>
\n But in my eyes a pullback will get bought and new highs hit again. Even if the Fed does raise rates in September (not likely), I believe the market will stabilize and absorb the increase and eventually buyers will get back to work. <\/span>
\n Long term traders shouldn’t panic…shorter term traders obviously can’t hold through a 5% drop. <\/span>
\n I’m personally somewhat laying low here. Not many set ups are jumping off the screen at me. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Federal Realty Investment Trust (FRT -0.28%) was upgraded to ‘Buy’ from ‘Neutral’ at Mizuho Securities USA with a 12-month target price of $176.<\/span>
\n At Home Group (HOME unch) was rated a new ‘Buy’ at Jeffries with a 12-month target price of $20.<\/span>
\n T-Mobile (TMUS -0.69%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Wells Fargo Securities.<\/span>
\n KeyCorp (KEY +0.49%) was downgraded to ‘Neutral’ from ‘Overweight’ at Piper Jaffray.<\/span>
\n Harley-Davidson (HOG -1.26%) was downgraded to ‘Underperform’ from ‘Neutral’ at Longbow Research with a 12-month target price of $40.<\/span>
\n Post Properties (PPS -0.72%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James with a 12-month price target of $72.50.<\/span>
\n Netflix (NFLX +0.27%) was rated a new ‘Sell’ at Axiom Capital with a target price of $80.<\/span>
\n Herbalife (HLF -2.31%) climbed over 3% in pre-market trading after Carl Icahn said he bought 2.3 million shares of Herbalife on Friday and now holds 19.3 million shares of the stock.<\/span>
\n Caesers Entertainment Corp. (CZR -0.40%) tumbled 10% in after-hours trading after U.S. Bankruptcy Judge Goldgar ruled that Caesers must face bondholder lawsuits demanding that Caesers honors $11 billion in guarantees.<\/span>
\n Tidewater (TDW +0.97%) rose over 3% in after-hours trading after Robert Robotti increased his stake in the company from 2.2% to 6%.<\/span>
\n Adamis Pharmaceuticals (ADMP +25.27%) jumped over 6% in after-hours trading after the company said it is targeting a year-end submission to the FDA for its prefilled syringe that would be a “low-cost” alternative to Mylan’s EpiPen.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Personal Income and Outlays
\n 10:30 Dallas Fed Manufacturing Survey<\/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 Monday. Hope you had a good weekend. The Asian\/Pacific markets closed mostly down. Singapore, Indonesia and Australia dropped the most. Japan rallied 2.3%. Europe is currently mostly down. Greece and Italy are down more than 1%; Germany, France, Belgium, the Netherlands, Norway, Russia, Turkey, Finland and Spain are also weak. Futures in […]<\/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\/9890"}],"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=9890"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9890\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}