The market started red and finished red yesterday, as ‘buy the dip’ never came, although the market closed up from it’s lows. Overnight, the Nikkei continued it’s volatility shedding 5%. The rest of the world seems to not care anymore, and Europe is green along with US futures up.
Revised GDP came out for Q1 down .1% and jobless claims rose 10k, a bit more then expected. Futures faded a bit on the data, but are still green.
TSLA was the mover of the day yesterday, hitting just shy of 115, only to sell-off under $100 in a matter of minutes, The stock regained some footing at the end of the day to close at 104.62.
GOLD continued to rally overnight and is now sitting over $1400, an area that has me concerned. Will wait and see if it holds before I start to rethink my bearish thesis.
Here are some of the analyst changes for today:
|AXP American Express price target raised to $89 from $73 at Nomura|
|Nomura believes consensus expense expectations for American Express are too high and that upcoming job cuts will provide a significant source of near-term upside vs. Street estimates. The firm expects shares to continue have strong performance driven by expense cuts, scaling fee-based revenue streams, and strong core business trends. Share are Buy rated|
|FSLR First Solar upgraded at Goldman|
|As previously reported, Goldman upgraded First Solar to Buy from Neutral. The firm upgraded shares due to its strong backlog, negative sentiment and valuation, and near-term earnings visibility. Price target is $64|
|DSW price target raised to $83 from $73 at Susquehanna|
|Susquehanna raised its price target on DSW following solid Q1 results citing potential for acceleration of comp trends, solid product pipeline, and increased margin opportunity. Shares are Positive rated|
|SPLS Staples management more upbeat than in recent quarters, says Bernstein|
|After meeting with Staples' management, Bernstein reports that management appeared to be more positive than in recent quarters. The firm thinks that the company's performance may be improving, although its outlook remains challenging. Bernstein keeps a Market Perform rating on the stock|
|KORS Michael Kors momentum continues, says RW Baird|
|Baird raised its price target on Michael Kors to $80 from $78 citing continued momentum supported by growing brand awareness, product line extensions, and enhanced distribution. Shares are Outperform rated|
|VZ Verizon initiated with an Outperform at BMO Capital|
|Ford price target raised to $18 from $15 at MIKEY Capital|
|RBC Capital increased its price target on Ford after meeting with the company's investor relations team. The firm thinks the company is benefiting from improvements in its European unit and ramping Asia sales, and it keeps an Outperform rating on the stock|
Along with the Week Ahead Webinar Sunday night, there will be a Webinar by Chris D : Using Relative Strength & The RSI" http://t.co/op9GzuZtb5 - should be fun.
Will be keeping it small today until the market finds its way (up or down). May try to nab some GOOG calls as well as LNKD 175s:
|Stock Ticker||Call/Put||Strike||Expiration||Closing Price||Entry Price|
Lets have a great day!!