{"id":9995,"date":"2016-10-20T07:42:48","date_gmt":"2016-10-20T12:42:48","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=9995"},"modified":"2016-10-20T07:42:48","modified_gmt":"2016-10-20T12:42:48","slug":"before-the-open-oct-20-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=9995","title":{"rendered":"Before the Open (Oct 20)"},"content":{"rendered":"

Good morning. Happy Thursday. <\/span>
\n The Asian\/Pacific<\/strong> markets closed mixed. Japan rallied 1.4%; India, Taiwan and Hong Kong also did well. Several markets closed with tiny losses. Europe<\/strong> is currently mixed; movement is minimal. Sweden, Austria, Poland, Spain and Portugal are up; Switzerland, the Czech Republic and Russia are down. Futures in the States<\/strong> point towards a slight up open for the cash market. <\/span>
\n—————
\n Charts of Indexes and ETFs – <\/strong> here<\/a>
\n—————<\/span>
\n The dollar is flat. Oil and copper are down. Gold and silver are up. Bonds are up. <\/span>
\n Yesterday crude oil moved to a higher high, taking out both its high from two weeks ago and June. Today it’s down 73 cents in premarket trading and will open in range. <\/span>
\n\"\"
\n If the group can break out and run, there will be a lot of money to be made. There are dozens of liquid oil stocks that can easily rally >20% if crude cooperates. If it doesn’t happen, oh well. That will be unfortunate because there are so many good looking charts right now. <\/span>
\n For what it’s worth, XLE, a large-cap dominated energy ETF, has not matched the movement of crude lately. <\/span>
\n\"\"
\n The overall the market is still range bound. Don’t get overly worked up about nothing happening. Here’s the Russell 2000, which led yesterday. <\/span>
\n\"\"
\nStock headlines<\/strong> from barchart.com…<\/span>
\n American Express (AXP +1.95%) jumped over 5% in pre-market trading after it reported Q3 EPS of $1.24, well above consensus of 96 cents.<\/span>
\n United Rentals (URI -1.13%) rose nearly 5% in after-hours trading after it lifted its lower end of its 2016 revenue estimate to $5.65 billion-$5.75 billion from a July 20 view of $5.60 billion-$5.80 billion.<\/span>
\n Mattel (MAT -0.29%) rallied over 4% in after-hours trading after it reported Q3 net sales of $1.8 billion, above consensus of $1.78 billion.<\/span>
\n eBay (EBAY +2.78%) dropped 7% in after-hours trading after it said it sees Q4 adjusted EPS continuing operations of 52 cents-54 cents, at the lower end of consensus of 54 cents.<\/span>
\n Kinder Morgan (KMI +2.63%) was upgraded to ‘Outperform’ from ‘Neutral’ at Credit Suisse with a target price of $26.<\/span>
\n Manitowoc (MTW +2.37%) tumbled 8% in after-hours trading after it said orders and backlog were down double digits during Q3 and it is temporarily shutting down some mobile output lines in Q4.<\/span>
\n BJ’s Restaurants (BJRI +0.76%) dropped 6% in after-hours trading after it reported Q3 adjusted EPS of 30 cents, below consensus of 32 cents, and said comparable restaurant sales were down -3.4%, weaker than consensus of -1.9%.<\/span>
\n FMC Technologies (FTI +1.09%) gained over 1% in after-hours trading after it reported Q3 EPS continuing operations of 35 cents, better than consensus 23 cents.<\/span>
\n East West Bancorp (EWBC +1.25%) rose 2% in after-hours trading after it reported Q3 EPS of 76 cents, higher than consensus of 69 cents, and then raised guidance on full-year EPS to $2.91-$2.93 from a prior view of $2.83-$2.87.<\/span>
\n Core Laboratories NV (CLB +2.78%) fell over 1% in after-hours trading after it said it sees Q4 EPS of 38 cents-40 cents, weaker than consensus of 41 cents.<\/span>
\n Landstar Systems (LSTR unch) climbed nearly 5% in after-hours trading after it said it sees Q4 EPS of 85 cents-90 cents, higher than consensus of 82 cents.<\/span>
\n WD-40 Co. (WDFC -2.50%) gained over 1% in after-hours trading after it reported Q4 EPS of 99 cents, above consensus of 82 cents.<\/span>
\n DXP Enterprises (DXPE +0.07%) sank 17% in after-hours trading after it reported preliminary Q3 sales of $228 million-$231 million, below consensus of $250.7 million.<\/span>
\n Select Comfort (SCSS +2.13%) plunged over 15% in after-hours trading after it reported Q3 WPS of 56 cents, weaker than consensus of 57 cents, and then lowered guidance on full-year EPS to $1.15-$1.25 from a prior view of $1.25-$1.45.<\/span>
\n Wednesday’s Key Earnings<\/strong>
\n Morgan Stanley (NYSE:MS) ends +1.9% following “expected” earnings beat
\n American Express +5.5% (NYSE:AXP) AH after Q3 beat, raises full-year guidance
\n Mattel (NASDAQ:MAT) jumps 6% AH after Q3 revenue holds up
\n eBay (NASDAQ:EBAY) tumbles 6% AH, with holiday-quarter guidance uninspiring
\n Halliburton (NYSE:HAL) closes +4.25% after surprise profit as it “relentlessly” manages costs
\n Citrix Systems (NASDAQ:CTXS) +5.4% AH as it Q3 tops projections<\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Today’s Economic Calendar<\/strong>
\n 8:30 Initial Jobless Claims
\n 8:30 Philly Fed Business Outlook
\n 9:45 Bloomberg Consumer Comfort Index
\n 10:00 Leading Indicators
\n 10:00 Existing Home Sales
\n 10:30 EIA Natural Gas Inventory
\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. The Asian\/Pacific markets closed mixed. Japan rallied 1.4%; India, Taiwan and Hong Kong also did well. Several markets closed with tiny losses. Europe is currently mixed; movement is minimal. Sweden, Austria, Poland, Spain and Portugal are up; Switzerland, the Czech Republic and Russia are down. Futures in the States point towards […]<\/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\/9995"}],"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=9995"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/9995\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}