{"id":9903,"date":"2016-09-06T07:53:08","date_gmt":"2016-09-06T12:53:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9903"},"modified":"2016-09-06T07:53:08","modified_gmt":"2016-09-06T12:53:08","slug":"before-the-open-sep-6-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9903","title":{"rendered":"Before the Open (Sep 6)"},"content":{"rendered":"

Good morning. Happy Tuesday. Hope you had a great weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mostly up. India and Taiwan gained more than 1%; Malaysia, Hong Kong and China also did well. Europe<\/strong> is currently mixed and little changed. Germany, Hungary, the Czech Republic and Russia are up; Greece, Norway and the UK are down. Futures in the States<\/strong> point towards a slight up 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 down. Oil and copper are up. Gold and silver are up. Bonds are mostly down. <\/span>
\n As is typically the case on the first day of a new week I don’t have much to say that wasn’t already said in the LB Weekly<\/a> published over the weekend. <\/span>
\n The market has done very little the last seven weeks. It has just sat in a small range without making progress in either direction. I can’t even say rallies have gotten sold and dips have gotten bought because there haven’t been any rallies or dips – at least none that would register. <\/span>
\n Maybe the market is waiting for the next FOMC meeting? Or the election? or for the passage of time to solve a world problem? Or the end of summer? I don’t know. The market will wake up when it wants. It’s our job to have a plan and be ready. Don’t force things. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Monsanto (MON +0.50%) is up nearly 3% in pre-market trading after Bayer AG raised its takeover bid for a second time as it up its offer to $127.50 a share and said the two companies are in advanced talks.<\/span>
\n Navistar International (NAV +3.99%) soared over 25% in pre-market trading after the WSJ reported that Volkswagen is said to be near a deal to take a 19.9% stake in the company and a person with knowledge of the matter said the stake could ultimately provide a stepping stone for a full takeover.<\/span>
\n Danaher (DHR -0.31%) agreed to buy Cepheid (CPHD +0.47%) in a deal valued at about $4 billion or $53 a share in cash, a 54% premium to last Friday’s close.<\/span>
\n State Street (STT +0.73%) was downgraded to ‘Hold’ from ‘Buy’ at Sandler O’Neill with a 12-month target price of $73.<\/span>
\n CBS Corp. (CBS +0.35%) was rated a new ‘Buy’ at Drexel Hamilton LLC with a 12-month target price of $65.<\/span>
\n Equinix (EQIX +1.28%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer with an 18-month target price of $420.<\/span>
\n Credit Acceptance (CACC -0.49%) was downgraded to ‘Sell’ from ‘Neutral’ at Compass Point Research & Trading LLC with a 12-month target price of $170.<\/span>
\n Lions Gate Entertainment (LGF +1.34%) was rated a new ‘Buy’ at Brean Capital with a 12-month target price of $27.<\/span>
\n AvalonBay Communities (AVB -0.20%) was upgraded to ‘Buy’ from ‘Hold’ at Sandler O’Neill with a 12-month target price of $200.<\/span>
\n Herbalife (HLF +0.29%) gained almost 1% in after-hours trading after Carl Icahn disclosed that he bought 306,846 shares of Herbalife on Aug 31 at $60.39 to bring his total holdings to 19.6 million shares.<\/span>
\n PennantPark Investment (PNNT +1.00%) rose 4% in after-hours trading after it declared a 28 cent quarterly dividend.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Gallup US Consumer Spending Measure
\n 9:45 PMI Services Index
\n 10:00 ISM Non-Manufacturing Index
\n 10:00 Labor market condition index
\n 12:30 PM TD Ameritrade IMX
\n 2:00 PM Gallup US ECI
\n 8:30 PM Fed’s Williams: Economic Outlook<\/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 Tuesday. Hope you had a great weekend. The Asian\/Pacific markets closed mostly up. India and Taiwan gained more than 1%; Malaysia, Hong Kong and China also did well. Europe is currently mixed and little changed. Germany, Hungary, the Czech Republic and Russia are up; Greece, Norway and the UK are down. Futures […]<\/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\/9903"}],"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=9903"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9903\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}