{"id":9916,"date":"2016-09-13T07:56:07","date_gmt":"2016-09-13T12:56:07","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9916"},"modified":"2016-09-13T07:56:07","modified_gmt":"2016-09-13T12:56:07","slug":"before-the-open-sep-13-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9916","title":{"rendered":"Before the Open (Sep 13)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets closed with a lean to the downside. Singapore and Indonesia dropped more than 1%; Malaysia and New Zealand were also weak. Europe<\/strong> currently leans to the upside. Germany, Austria, the Czech Republic, Poland and Denmark are doing well; Russia, Turkey, Spain and Portugal are weak. Futures in the States<\/strong> point towards a moderate gap down open for the cash market. <\/span>
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\n The dollar is up. Oil is down; copper is up. Gold and silver are up. Bonds are up. <\/span>
\n After not experiencing a 1% day in two months, the S&P put in back-to-back 1% days Friday and Monday. Today likely continues the trend, so I guess it’s a lesson in being careful what you wish for. S&P futures are already down 14. A character shift has taken place. <\/span>
\n There are no guarantees here. Steady, predictable movement allows us to close our eyes and buy at certainly levels knowing the odds are in our favor. But when the S&P drops 50 one day and then rallies back 30 the next, there are no such no-brainer entries. <\/span>
\n From a technical standpoint the market is still in good shape, so I don’t think it’ll just fall apart. But in my eyes, even with a rate hike probably being off the table, with Hillary Clinton’s health issues getting more scrutiny, the upside is also limited. The election is no longer a done deal. <\/span>
\n In two days, the market has gone from zero volatility to surging volatility. Fun stuff. And people actually believe in the efficient market theory. Yeah right. A multi-trillion dollar economy can change that fast. Whatever. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Netflix (NFLX +2.64%) was downgraded to ‘Underperfrom’ from ‘Neutral’ at Macquarie due to “hidden challenges.”<\/span>
\n Intersil (ISIL +2.07%) jumped over 7% in pre-market trading after it was bought by Renesas Electronics for about $3.2 billion.<\/span>
\n Intuit (INTU +0.27%) was downgraded to ‘Underweight’ from ‘Equalweight’ at Morgan Stanley.<\/span>
\n Chevron (CVX +0.97%) was rated a new ‘Outperform’ at BMO Capital Markets with a target price of $120.<\/span>
\n Texas Instruments (TXN +1.90%) was upgraded to ‘Outperform’ from ‘Market Perform’ at Bernstein.<\/span>
\n Vertex Pharmaceuticals (VRTX +4.46%) was rated a new ‘Market Perform’ at Raymond James.<\/span>
\n United Natural Foods (UNFI +0.50%) rose over 2% in after-hours trading after it reported Q4 adjusted EPS of 70 cents, higher than consensus of 63 cents.<\/span>
\n Crown Castle International (CCI +0.66%) was rated a new ‘Buy’ at SunTrust with a price target of $107.<\/span>
\n Foamix Pharmaceuticals Ltd. (FOMX +15.70%) lost over 1% in after-hours trading after it registered 331,000 ordinary shares for resale after conversion of options granted to shareholders.<\/span>
\n Applied Genetic Technologies (AGTC +6.63%) fell 5% in after-hours trading after it reported Q4 revenue of $12.1 million, less than consensus of $13.1 million.<\/span>
\n Blue Buffalo Pet Products (BUFF +2.35%) declined over 2% in after-hours trading after it reported a secondary stock offering of 14.3 million shares.<\/span>
\n Farmer Brothers (FARM +0.57%) dropped nearly 2% in after-hours trading after it reported Q4 adjusted EPS of 23 cents, below consensus of 32 cents.<\/span>
\n Kratos Defense & Security Solutions (KTOS +1.23%) climbed nearly 6% in after-hours trading after it was awarded a $54 million contract to provide five Marine Common Aircrew Trainers (MCATs) to the United States Marine Corps.<\/span>
\n Weight Watchers International (WTW +1.27%) slid over 4% in after-hours trading after CEO James Chambers said he will resign, effective September 30.<\/span>
\n Fate Therapeutics (FATE -1.82%) tumbled nearly 8% in after-hours trading after it filed a 5.25 million share stock shelf for holders.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 6:00 NFIB Small Business Optimism Index
\n 8:55 Redbook Chain Store Sales
\n 1:00 PM Results of $12B, 30-Year Note Auction
\n 2:00 PM Treasury Budget<\/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 downside. Singapore and Indonesia dropped more than 1%; Malaysia and New Zealand were also weak. Europe currently leans to the upside. Germany, Austria, the Czech Republic, Poland and Denmark are doing well; Russia, Turkey, Spain and Portugal are weak. Futures in 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\/9916"}],"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=9916"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9916\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}