{"id":9907,"date":"2016-09-08T07:50:23","date_gmt":"2016-09-08T12:50:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9907"},"modified":"2016-09-08T07:50:23","modified_gmt":"2016-09-08T12:50:23","slug":"before-the-open-sep-8-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9907","title":{"rendered":"Before the Open (Sep 8)"},"content":{"rendered":"

Good morning. Happy Thursday. And Happy Birthday Leavitt Brothers – 14 years old today. \ud83d\ude42<\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Hong Kong and India did well; Japan, Australia and New Zealand fell. No market moved more than 1%. Europe<\/strong> currently leans to the downside. Germany, France, Belgium, the Netherlands and Greece are down; Austria, the Czech Republic and Spain are up. No market there has moved 1% either. Futures in the States<\/strong> point towards a flat open for the cash market. <\/span>
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\n The dollar is down. Oil is up; copper is down. Gold and silver are up. Bonds are down. <\/span>
\n The market hasn’t changed so far this week. The large caps (S&P 500, Dow) remain in their ranges while the small caps and micro caps trend up. The Nas moved to a new high yesterday, and the Nas 100 put in a new high the day before. <\/span>
\n Energy is doing well; XLE is not far from a new high. Financials (XLF) put in a new high two days ago, and tech (XLK) put in a new high yesterday. So we’re getting good leadership. <\/span>
\n There isn’t much to complain about. The overall trend is up, and the breadth indicators offer no warnings. I have no reason to abandon my SPX 2300-2400 target. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Nike (NKE +0.54%) was downgraded to ‘Neutral’ from ‘Overweight’ at Piper Jaffray.<\/span>
\n Pier 1 (PIR +3.23%) tumbled 12% in pre-market trading after it reported a preliminary Q2 loss of -5 cents to -6 cents a share, weaker than consensus of -3 cents, and the CEO Alex Smith said he will step down effetive Dec 31.<\/span>
\n AutoNation (AN +2.10%) was rated a new ‘Buy’ at CL King with a 12-month target price of $57.<\/span>
\n Wingstop (WING -0.80%) was rated a new ‘Overweight’ at Keybanc Capital Markets with a 12-month price target of $36.<\/span>
\n Apple (AAPL +0.61%) was downgraded to ‘Market Perform’ from ‘Outperform’ at Wells Fargo Securities.<\/span>
\n Tailored Brands (TLRD +3.04%) jumped over 10% in after-hours trading after it reported Q2 adjusted EPS of 99 cents, higher than consensus of 93 cents.<\/span>
\n Guidewire Software (GWRE +0.60%) fell nearly 6% in after-hours trading after it lowered guidance on full-year EPS to 69 cents-79 cents, weaker than consensus of 84 cents.<\/span>
\n Tractor Supply (TSCO -0.02%) slumped over 9% in after-hours trading after it cut its full-year EPS outlook to $3.22-$3.26 from a prior view of $3.35-$3.40.<\/span>
\n Sage Therapeutics (SAGE +1.03%) dropped nearly 6% in after-hours trading after it announced a $150 million public offering of common stock.<\/span>
\n Hewlett Packard Enterprise (HPE +1.05%) lost nearly 2% in after-hours trading after it said it will spin off some of its software assets and merge them with Micro Focus.<\/span>
\n Abeona Therapeutics (ABEO +2.13%) climbed over 4% in after-hours trading after Cantor Fitzgerald rated the stock a new ‘Buy.’<\/span>
\n Bazaarvoice (BV +4.60%) gained 3% in after-hours trading after it reported Q1 adjusted EPS at breakeven, better than consensus for a -4 cent loss.<\/span>
\n Repros Therapeutics (RPRX -2.56%) surged 40% in after-hours trading after the company said its Proellex drug cut menstrual pain in a Phase 2 trial versus a placebo.<\/span>
\n Netlist (NLST -2.84%) tumbled 14% in after-hours trading after it said it will offer $15 million in common stock.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n HP Enterprise (NYSE:HPE) -3% AH following an $8.8B deal with Micro Focus (OTC:MCFUY).<\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Initial Jobless Claims
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:00 Quarterly Services Report
\n 10:30 EIA Natural Gas Inventory
\n 11:00 EIA Petroleum Inventories
\n 3:00 PM Consumer Credit
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/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. And Happy Birthday Leavitt Brothers – 14 years old today. \ud83d\ude42 The Asian\/Pacific markets closed mixed. Hong Kong and India did well; Japan, Australia and New Zealand fell. No market moved more than 1%. Europe currently leans to the downside. Germany, France, Belgium, the Netherlands and Greece are down; Austria, 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\/9907"}],"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=9907"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9907\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}