{"id":9979,"date":"2016-10-11T07:50:41","date_gmt":"2016-10-11T12:50:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9979"},"modified":"2016-10-11T07:50:41","modified_gmt":"2016-10-11T12:50:41","slug":"before-the-open-oct-11-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9979","title":{"rendered":"Before the Open (Oct 11)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\n The Asian\/Pacific<\/strong> markets leaned to the downside. Hong Kong, South Korea and Thailand fell more than 1%; Japan and China did well. Europe<\/strong> leans to the upside and is mostly quiet. Greece is up more than 1%; Spain and Portugal are also doing well. Futures in the States<\/strong> point towards a down open for the cash market. <\/span>
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\n The dollar is down. Oil and copper are down. Gold and silver are down. Bonds are down. <\/span>
\n Yesterday the market gapped up and then slowly drifted over and down on light volume. Today it will start the day in negative territory. The range continues. Here’s the 60-min chart. For about three months the index has traded in a 70-point range. No directional move has lasted very long. <\/span>
\n\"\"
\n Oil is back at its high. There have been some solid plays lately. The Permian Basin stocks, in particular, have done well. <\/span>
\n\"\"
\n Meanwhile gold is heading south and is now at a key level – the 90-week moving average. <\/span>
\n\"\"
\n Earnings season is getting started. Hopefully the market can get kickstarted. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Illumina (ILMN +0.20%) plunged over 25% in pre-market trading after it lowered guidance on Q3 revenue to $607 million, below a July 27 view of $625 million-$630 million.<\/span>
\n CBOE Holdings (CBOE -1.41%) was upgraded to ‘Buy’ form ‘Hold’ at Evercore ISI with a 12-month target price of $74.<\/span>
\n Nike (NKE unch) was rated new ‘Positive’ at Susquehanna with a 12-month target price of $63.<\/span>
\n Finisar (FNSR -0.07%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs.<\/span>
\n Norfolk Southern (NSC -0.98%) was upgraded to ‘Buy’ from ‘Neutral’ at Bank of America\/Merrill Lynch with a price target of $110.<\/span>
\n FirstCash (FCFS +2.11%) was rated new ‘Outperform’ at Wedbush with a 12-month target price of $58.<\/span>
\n Yahoo! (YHOO +1.62%) rose 1% in after-hours trading after Verizon CEO he still sees real value in Yahoo.<\/span>
\n Southwest Airlines (LUV +3.38%) gained almost 1% in after-hours trading after it was rated a new ‘Outperform’ at Bernstein.<\/span>
\n Lending Club (LC +1.51%) lost over 2% in after-hours trading after it was rated a new ‘Underperform’ at Wedbush.<\/span>
\n Heritage Insurance (HRTG -3.56%) fell 2% in after-hours trading after it said it sees losses from Hurricane Matthew at under $100 million, more than earlier estimates of 21$ million in losses.<\/span>
\n American Superconductor (AMSC +5.75%) was rated a new ‘Buy’ at Roth Capital with a price target of $10.<\/span>
\n Chatham Lodging Trust (CLDT +1.02%) dropped over 4% in after-hours trading after it lowered guidance on Q3 adjusted FFO to 70 cents-71 cents from a prior view of 72 cents-75 cents.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 6:00 NFIB Small Business Optimism Index
\n 8:55 Redbook Chain Store Sales
\n 10:00 Labor market condition index<\/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 leaned to the downside. Hong Kong, South Korea and Thailand fell more than 1%; Japan and China did well. Europe leans to the upside and is mostly quiet. Greece is up more than 1%; Spain and Portugal are also doing well. Futures in the States point towards a […]<\/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\/9979"}],"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=9979"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9979\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}