Friday Pre-Market Look: Stocks In The News Before The Open

Alphabet (GOOGL) slid nearly 3% in after-hours trading after it reported Q4 adjusted EPS of $9.36, lower than consensus of $9.62.

Starbucks (SBUX) dropped over 3% in after-hours trading after it reported Q1 comparable same-store sales up 3.0%, weaker than consensus of +3.7%.

Microsoft (MSFT) gained nearly 1% in after-hours trading after it reported Q2 adjusted EPS ex-LinkedIn of 84 cents, higher than consensus of 79 cents.

PayPal Holdings (PYPL) fell over 3% in after-hours trading after it forecast 2017 adjusted EPS of $1.69-$1.74, weaker than consensus of $1.74.

Wynn Resorts Ltd (WYNN) rallied 7% in after-hours trading after it reported Q4 net revenue of $1.30 billion, better than consensus of $1.27 billion.

Juniper Networks (JNPR) dropped over 7% in after-hours trading after it said it sees Q1 adjusted EPS of 38 cents-44 cents, weaker than consensus of 46 cents.

Super Micro Computer (SMCI) surged 10% in after-hours trading after it reported Q2 adjusted EPS of 48 cents, better than consensus of 46 cents, and then said it sees Q3 sales of $570 million to $630 million, well above consensus of $552.1 million.

Robert Half International (RHI) slid nearly 5% in after-hours trading after it reported Q4 EPS of 61 cents, weaker than consensus of 64 cents.

KLA-Tencor Corp. (KLAC) rose 3% in after-hours trading after it reported Q2 adjusted EPS of $1,52, higher than consensus of $1.40.

Proofpoint (PFPT) fell 4% in after-hours trading after it reported Q4 billings of $138.4 million, below some analysts’ estimates of $140 million.

Valero Energy (VLO) gained almost 1% in after-hours trading after it boosted its quarterly dividend to 70 cents a share from 60 cents a share, higher than expectations of 65 cents.

Synaptics (SYNA) jumped over 6% in after-hours trading after it reported Q2 net revenue of $461.3 million, above consensus of $451.8 million.

OSI Systems (OSIS) climbed 3% in after-hours trading after it reported Q2 adjusted EPS of 68 cents, better than consensus of 61 cents.

Microsemi Corp. (MSCC) slipped over 1% in after-hours trading after it reported Q1 adjusted EPS of 86 cents, right on expectations.

Greenhill & Co. (GHL) rallied 5% in after-hours trading after it reported Q4 revenue of $101.6 million, higher than consensus of $100.7 million.

Source: FoxBusiness, BarChart, Bloomberg, Reuters

The Closing Look

Stocks rallied on Wednesday after President-Elect Trump held his first press conference of 2017. The tech heavy Nasdaq composite closed at a record high while the Dow Jones Industrial Average continued to trade just below 20,000. Meanwhile, the Mexican Peso hit a fresh record low after Trump reiterated his intention to build a wall.

Gary’s Thoughts: Getting closer on the dow. Rest of market acted well as it sold off on Trump and then rallied. But…message to Trump. Keep ripping on business and eventually you will cause a dislocation. Promise! Yesterday, Trump ripped the drug companies. Immediately, everything drugs sold off hard. We are not defenders of drug companies. We just need to state if Trump has a problem with industry, it would be better to call them out behind closed doors first…because in the wrong kind of market, he will crack the market. He also stated “and other industires!” So there are other industries he does not like or has issue with. Which ones? When will he mention them? What will be the repercussions?

The Morning Look

Stock Market Overview: 

Futures are lower ahead of Wednesday’s open and today’s Fed meeting Remember, we are in the heart of earnings season with approximately 35% of S&P 500 stocks are expected to release earnings this week. The first look at Q1 2016 GDP will be released on Thursday.

Gary’s Thoughts:  Apple not helping QQQ but SPY not down much. Oil again popping as oil prices breaking out fo range…and oh yeah…the freaking fed today!

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • International Trade in Goods 8:30 AM ET
  • Pending Home Sales Index 10:00 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • FOMC Meeting Announcement 2:00 PM ET

Highlights Of The Day:

    • Exxon Mobil Loses Top Credit Rating It Held Since Depression
      Gary’s Thoughts: Oops! 
    • Ackman to Testify With Pearson at Senate Drug-Pricing Hearing
      Gary’s Thoughts: An investing genius but cardinal sin…don’t hold bad bets all the way down.