{"id":9892,"date":"2016-08-30T07:48:45","date_gmt":"2016-08-30T12:48:45","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9892"},"modified":"2016-08-30T07:48:45","modified_gmt":"2016-08-30T12:48:45","slug":"before-the-open-aug-30-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9892","title":{"rendered":"Before the Open (Aug 30)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the upside. India and Hong Kong did well; there were no big down markets. Europe<\/strong> is currently up across-the-board. France, Germany, Austria, the Netherlands, Poland, Spain and Italy are leading the way. Futures in the States<\/strong> point towards a slight down open for the cash market. <\/span>
\n—————
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\n The dollar is up. Oil and copper are up. Gold and silver are down. Bonds are down. <\/span>
\n The market bounced back yesterday. The S&P is back in the middle of its range and is unchanged going back three weeks. <\/span>
\n Overall nothing has changed – from one quiet trading period the second half of July to another quiet zone here in August. <\/span>
\n I still firmly believe higher prices are coming, and even if we do get a slight rate increase next month, I don’t have a strong reason to abandon my S&P target between 2300-2400. But in the near term I’m more neutral and don’t see great set-ups to be had. I don’t think this is a time to force trades because most of them are mediocre or worse. <\/span>
\n The market will wake up when it wants to. Don’t drain your emotional energy staring at prices all day when nothing is happening. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Apple (AAPL -0.11%) is down nearly 2% in pre-market trading after it was ordered to pay 13 billion euros ($14.5 billion) plus interest as the European Commission said Ireland illegally cut Apple’s tax bill.<\/span>
\n First Data Corp. (FDC -0.38%) was rated a new ‘Buy’ at Craig Hallum with a 12-month price target of $20.<\/span>
\n VMware (VMW +1.32%) was upgraded to ‘Buy’ from ‘Neutral’ at SunTrust Robinson Humphrey with a 12-month price target of $92.<\/span>
\n Rackspace Hosting (RAX -0.13%) was downgraded to ‘Underperform’ from ‘Outperform’ at Raymond James.<\/span>
\n Coeur Mining (CDE +1.10%) was upgraded to ‘Sector Perform’ from ‘Sector Underperform’ at CIBC.<\/span>
\n Flextronics International (FLEX +1.00%) rose over 1% in after-hours trading after its board authorized a buyback of up to $500 million in company stock.<\/span>
\n Catalent (CTLT +0.36%) slid almost 5% in after-hours trading after it reported Q4 adjusted EPS of 52 cents, below consensus of 53 cents.<\/span>
\n Skyworks Solutions (SWKS +0.51%) dropped 2% in after-hours trading after CFO Donald Palette retired and was replaced by Kris Sennesael.<\/span>
\n American Airlines Group (AAL -0.17%) lost 1% and United Continental Holdings (UAL +0.17%) gained over 1% in after-hours trading after American Airlines president Scott Kirby left the company for the same role at United Continental.<\/span>
\n ScanSource (SCSC +1.18%) slumped over 12% in after-hours trading after it reported Q4 adjusted EPS of 51 cents, well below consensus of 71 cents, and said it sees Q1 adjusted EPS of 60 cents-68 cents, weaker than consensus of 75 cents.<\/span>
\n Phibro Animal Health (PAHC +3.19%) gained almost 1% in after-hours trading after it reported Q4 adjusted EPS of 40 cents, higher than consensus of 38 cents.<\/span>
\n Hershey (HSY +0.71%) tumbled over 10% and Mondelez International ({=MDLZ rose over 3% in after-hours trading after Mondelez International said it is no longer seeking a merger with Hershey.<\/span>
\n Syros Pharmaceuticals (SYRS -0.43%) surged over 18% in after-hours trading after it said its research published in the scientific journal Nature Chemical Biology shows a promising approach to treating several cancers through its CDK12 and CDK 13 inhibitors.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:55 Redbook Chain Store Sales
\n 9:00 S&P Case-Shiller Home Price Index
\n 10:00 Consumer Confidence
\n 10:00 State Street Investor Confidence Index<\/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 Tuesday. The Asian\/Pacific markets closed with a lean to the upside. India and Hong Kong did well; there were no big down markets. Europe is currently up across-the-board. France, Germany, Austria, the Netherlands, Poland, Spain and Italy are leading the way. Futures in the States point towards a slight down open for […]<\/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\/9892"}],"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=9892"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9892\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}