After Hours Report

The stock market exhibited upside and downside action at the index level, but moves in either direction were relatively limited. The S&P 500 (+0.5%) traded up as much as 0.5% and traded as low as 0.5% today. The mixed action was influenced by volatile moves in some mega cap names, along with hesitation in front of tonight's presidential debate and tomorrow's release of the August Consumer Price Index at 8:30 ET.

Apple (AAPL 220.11, -0.80, -0.4%) was an influential mover in the mega cap space, trading below yesterday's close through the entire session after disclosing that it expects to record a one-time income tax charge in its fiscal Q4 of up to approximately $10 billion after losing a back-tax ruling in the EU Court of Justice.

The Dow Jones Industrial Average (-0.2%) lagged the S&P 500 and Nasdaq Composite (+0.8%), trading lower most of the session due to sizable declines in its large bank components. 

JPMorgan Chase (JPM 205.56, -11.25, -5.2%) was the worst performer in the DJIA, followed by Goldman Sachs (GS 467.13, -21.44, -4.4%), after the former suggested expectations for 2025 net interest income are a bit too high and the latter said it sees Q3 trading revenue tracking towards a 10% decline. 

Other bank stocks traded down in response to the aforementioned headlines, and in response to Ally Financial (ALLY 32.67, -6.99, -17.6%) saying credit challenges have intensified. The SPDR S&P Bank ETF (KBE) settled 0.9% lower and the S&P 500 financial sector closed 1.0% lower.

The only other S&P 500 sector to register a decline was energy, which fell 1.9% amid falling oil prices. WTI crude oil futures sank 4.1%, or $2.81, to $65.85/bbl.

Treasuries settled with gains ahead of tomorrow's release of the August CPI. The 10-yr yield dropped five basis points to 3.65% and the 2-yr yield settled six basis point lower at 3.61%. On a related note, the $58 billion 3-yr note sale met strong demand.

• S&P 500: +15.2% YTD
• Nasdaq Composite: +13.4% YTD
• Dow Jones Industrial Average: +8.1% YTD
• S&P Midcap 400: +6.0% YTD
• Russell 2000: +3.5% YTD

Today's economic lineup featured the NFIB Small Business Optimism Survey, which dropped to 91.2 in August from 93.7. 

Looking ahead, Wednesday's economic lineup features:

• 7:00 ET: Weekly MBA Mortgage Index (prior 1.6%)
• 8:30 ET: August CPI (Briefing.com consensus 0.2%; prior 0.2%) and Core CPI (Briefing.com consensus 0.2%; prior 0.2%)
• 10:30 ET: Weekly crude oil inventories (prior -6.87 mln)

Overseas:

• Europe: DAX -0.9%, FTSE -0.8%, CAC -0.2%
• Asia: Nikkei +0.1%, Hang Seng +0.2%, Shanghai +0.3%

Commodities:

• Crude Oil -2.81 @ 65.85
• Nat Gas +0.06 @ 2.23
• Gold +9.40 @ 2542.20
• Silver -0.08 @ 28.60
• Copper -0.04 @ 4.10

After-Hours Spotlight:

• Dave & Buster's (PLAY) beats by $0.28, reports revs in-line, comparable store sales decreased 6.3%... PLAY up 8.3%
• GameStop (GME) beats by $0.13, misses on revs... GME down 0.6%
• Petco Health and Wellness (WOOF) reports EPS in-line, revs in-line; guides Q3 EPS in-line, revs in-line... WOOF up 2.6%

Fair Value for Wednesday, Sept. 11:

•  S&P 500: 5,504
• Nasdaq 100: 18,859
• DJIA: 40,794

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • Academy Sports + Outdoors (ASO) beats by $0.02, misses on revs, comps -6.9%; guides FY25 EPS in-line, revs below consensus, lowers FY25 comp guidance
  • Ally Financial (ALLY) at conference says credit challenges have intensified; borrowers are struggling with a high inflation and cost of living, and now, more recently, a weakening employment picture; committed to its 15% ROTC target, but road is getting harder
  • American Superconductor (AMSC) raises Q2 revenue guidance
  • Avid Bioservices (CDMO) misses by $0.03, misses on revs; reaffirms FY25 revs guidance
  • Azul S.A. (AZUL) provides outlook for FY24
  • BMW Group (BMWYY) adjusts guidance for 2024 financial year
  • Boot Barn Holdings (BOOT) reports preliminary Q2 comp growth of +4.0%
  • BYD Company (BYDDY) boosts annual sales forecast to 4 million units amid surging demand for plug-in hybrids, according to Bloomberg
  • Calavo Growers (CVGW) beats by $0.14, reports revs in-line; increases dividend
  • Centene (CNC) reaffirms outlook ahead of investor meetings
  • ChipMOS TECHNOLOGIES (IMOS) reports August revs increased 15.4% yr/yr to $66.2 mln
  • Cognyte Software (CGNT) beats by $0.07, reports revs in-line; guides FY25 EPS above consensus, revs in-line
  • Cousins Prop (CUZ) provides investor updates in presentation
  • Goldman Sachs (GS) CEO says trading revs is heading for a 10% drop in Q3, according to Reuters
  • Matrix Service (MTRX) beats two analyst estimate by $0.07, misses on revs, guides FY25 revenue above two analyst estimate
  • Mission Produce (AVO) beats by $0.20 (two estimates), beats on revs; Expects industry volumes to be slightly lower in Q4 vs. prior year period
  • Oracle (ORCL) beats by $0.06, reports revs in-line; guides NovQ EPS and revenue in-line
  • Regency Centers (REG) raises FY24 FFO guidance in slide presentation
  • Rubrik (RBRK) beats by $0.09, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY25 EPS above consensus, revs above consensus
  • Sirius XM (SIRI) announces capital return program following completion of split-off with Liberty Media; also reaffirms FY24 guidance
  • Taiwan Semiconductor Manufacturing (TSM) reports August revs increased 33.0% yr/yr to NT$250.87 bln
  • Vermilion Energy (VET) reports operational update; reaffirms production outlook
• General News
  • Vice President Kamala Harris and former President Trump will try to draw contrasts at tonight's presidential debate as polls show tight race, according to the Wall Street Journal
  • Large banks will face 9% increase in capital requirements, which is lower than the 19% requirement first proposed, according to Bloomberg
  • EU aiming to lower tariffs on Chinese EVs, according to Bloomberg
  • Francine is expected to strike central Louisiana as a category two storm tomorrow
  • OPEC releases September demand and supply forecast
  • AbbVie (ABBV): Health Canada approves AbbVie's CONSTELLA for the treatment of functional constipation in pediatric patients 6 to 17 years of age
  • AbbVie (ABBV) follow up to reports UNH is planning to axe some reimbursement coverage of ABBV's Humira next year
  • ACELYRIN (SLRN) announces positive proof-of-concept data from phase 1/2 clinical trial of lonigutamab as a subcutaneous treatment for thyroid eye disease to be Presented at 42nd Annual Meeting of European Society of Ophthalmic Plastic and Reconstructive Surgery
  • Agios Pharma (AGIO) receives FDA orphan drug designation for treatment of myelodysplastic syndromes
  • Alimera Sciences (ALIM) takes legal action against ANI Pharmaceuticals to enforce merger agreement
  • Alphabet (GOOG): The EU Court of Justice upholds the fine of €2.4 billion imposed on Google for abuse of its dominant position by favouring its own comparison shopping service
  • Altimmune (ALT) announces correction for results of a Phase 2 MRI-Based Body Composition Sub-Study; the reduction of visceral adipose tissue (VAT) at Week 48 has been corrected from 25.6% to 28.3% and the reduction of subcutaneous adipose tissue has been corrected from 20.1% to 19.5%
  • Amazon (AMZN) Web Services and The National Football League announce an extension of their long-term partnership
  • Amazon (AMZN) and Uber (UBER) want to launch drug delivery services in France with startup Livmed, according to Linforme
  • ANI Pharma (ANIP) provides an update on the status of the completion of its previously announced acquisition of Alimera Sciences (ALIM)
  • Apple (AAPL): The EU Court of Justice sets aside the judgment of the General Court concerning tax rulings issued by Ireland in favour of Apple
  • Apple (AAPL): Huawei to introduce tri-fold smartphone to compete with Apple, according to Reuters
  • Apple (AAPL) discloses it expects to record a one-time income tax charge in its fourth fiscal quarter ending September 28, 2024, of up to approximately $10 bln following EU ruling
  • Archer Aviation (ACHR) CFO Mark Mesler to take temporary medical leave; anticipates returning during 1Q25
  • Arrowhead (ARWR) announces that the United States Food and Drug Administration has granted Breakthrough Therapy designation to investigational plozasiran as an adjunct to diet to reduce triglycerides in adults with familial chylomicronemia syndrome
  • ARS Pharmaceuticals (SPRY) Submits sNDA to FDA for neffy® 1 mg Dose for Pediatric Patients with Type I Allergic Reactions Who Weigh 15 to 30 kg
  • Arteris (AIP) announces that VeriSilicon has licensed Arteris FlexNoC 5 interconnect IP
  • AstraZeneca (AZN): Pillar Biosciences has entered into a strategic partnership with AstraZeneca to expand laboratory access to molecular testing, using rapid, Next Generation Sequencing-based liquid biopsy tumor profiling panels for detection of genetic cancer variants, with an initial focus on European markets and the UK
  • AT&T (T): Money Night Football impacted by DirectTV dispute with Disney (DIS), according to the Wall Street Journal
  • Barclays PLC (BCS) CEO C. S. Venkatakrishnan says hopes the global banking system aligns on capital levels; says new labor government in UK wants growth in the economy and understands how important the financial services sector is for growth -- CNBC interview
  • Bayer AG (BAYRY): New subgroup analysis from FINEARTS-HF revealed patients with heart failure and a left ventricular ejection fraction of =40% receiving finerenone had a reduced risk of new-onset diabetes
  • Boeing (BA) has delayed 737 Max output goal by 6 months, according to Reuters
  • Boeing (BA): FAA Administrator Mike Whitaker says that BA must ensure safety processes are before production cap will be removed, according to Reuters
  • Boeing (BA) reports August 2024 commercial orders of 22 aircraft, YTD gross orders as of Aug. 31 totaled 250; August deliveries totaled 40 aircraft
  • Boeing (BA) announces the scheduled 2026 launch of a satellite – dubbed Q4S – which is designed to demonstrate quantum entanglement swapping capabilities on orbit
  • C4 Therapeutics (CCCC) Announces Delivery of Second Development Candidate to Biogen (BIIB)
  • Cal-Maine Foods (CALM) completes strategic investment with Crepini LLC, establishing new egg products and prepared foods joint venture
  • Campbell Soup (CPB) provides long term targets at investor day
  • Centessa Pharmaceuticals (CNTA) announces "positive" interim data from an ongoing Phase 1 trial of its highly potent and selective orexin receptor 2 agonist, ORX750, in acutely sleep-deprived healthy volunteers
  • Commerzbank AG (CRZBY) CEO not to seek extension of his contract
  • CyberArk (CYBR) and Proofpoint announce an extended strategic collaboration, working together to help organizations around the world secure identities everywhere
  • Docebo (DCBO) appoints Alessio Artuffo as Chief Executive Officer and Board Member
  • Eli Lilly (LLY) announces detailed results from the QWINT-2 phase 3 trial evaluating once-weekly insulin efsitora alfa compared to once-daily insulin degludec in adults with type 2 diabetes using insulin for the first time
  • Ericsson (ERIC): Vonage joins forces with SAP to accelerate digital transformation with communications and network APIs
  • Fannie Mae (FNMA) announces its latest sale of non-performing loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio, including the company's twenty-fifth Community Impact Pool
  • Ford Motor (F) electric vehicle owners and lessees in Southern California Edison’s service area now have the option to be compensated for assisting the electric grid during peak periods of energy demand
  • Genco Shipping & Trading (GNK) enhances dividend policy to increase cash distributable to shareholders
  • Generac (GNRC) unveils next generation PWRcell energy storage products at RE+
  • Goldman Sachs (GS) aiming to sell $2 bln in credit card loans to Barclays (BCS), according to Bloomberg
  • Highwoods Prop (HIW) provides leasing update
  • Hudson Pacific Properties (HPP) announces that its Board of Directors suspended the Company’s quarterly dividend on its common stock, commencing with the third quarter dividend that would have been paid in September 2024
  • IBM (IBM) expands its consulting services and solutions to help clients derive greater value from Oracle's cloud applications and technology and extend generative AI with an open, orchestrated approach
  • IBM (IBM) enters into a definitive agreement with Century Park Capital Partners to acquire its portfolio company, Accelalpha; financial terms were not disclosed
  • Icahn Enterprises (IEP) and IPGaia Inc. have entered into a Comprehensive Collaborative Research and Development Agreement dated August 7th, 202
  • I-Mab (IMAB) Presents Positive Uliledlimab Pharmacokinetics Data at 2024 World Conference on Lung Cancer
  • Informatica (INFA) announced that it has been selected by leading Australian lenders mortgage insurer, Helia, to help the company accelerate claims processing
  • InMode (INMD) approved a share repurchase program of up to 7.68 million ordinary shares
  • Jasper Therapeutics (JSPR): Health Canada has cleared the co's CTA for a Phase 1b/2a asthma challenge study
  • JFrog (FROG) collaborates with NVIDIA (NVDA) to deliver secure AI models with NVIDIA NIM
  • JFrog (FROG) and GitHub expand partnership, deliver single pane of glass for security and copilot chat to empower developers
  • JPMorgan Chase (JPM) CEO Jamie Dimon says he is not taking stagflation scenario off the table, according to CNBC
  • KalVista Pharmaceuticals (KALV) announced that Brian Piekos has joined the Company as Chief Financial Officer
  • KBR (KBR) has been awarded a contract to continue to deliver technical design services at HMAS Stirling by the Security and Estate Group and the Australian Submarine Agency
  • Kinross Gold (KGC) completes Great Bear Preliminary Economic Assessment
  • Oracle (ORCL) and Amazon Web Services (AMZN) announce strategic partnership
  • Lockheed Martin (LMT) and Tata Advanced Systems agree to expand C-130J Super Hercules opportunities in India
  • Loews Corp (L) announces that the Delaware Court of Chancery found no liability in connection with its 2018 acquisition of the minority limited partner interests in its Boardwalk Pipelines subsidiary
  • Lucid Group (LCID) showcases Gravity SUV and provides analysis of cost effectiveness of its enabling technologies during technology & manufacturing day
  • Meta Platforms (META): Numerous AGs call for Congress to require a surgeon general’s warning on social media platform
  • NerdWallet (NRDS) authorizes new $50 mln share repurchase program
  • New York Times (NYT) tech workers union to strike, according to Axios
  • Newmont Corporation (NEM) announces agreement to divest Telfer and Havieron for up to $475 mln, expected to close in the fourth quarter of 2024
  • Norfolk Southern (NSC) monitors Tropical Storm Francine, plans adjustments for New Orleans as flood gates close
  • Pulmonx (LUNG) Announces Presentation of Clinical Data from the AeriSeal® CONVERT Trial and 5-Year Follow-up Data from the LIBERATE Study at the European Respiratory Society Congress 2024
  • Rambus (RMBS) announces industry-first HBM4 Controller IP to accelerate AI workloads
  • Regeneron Pharmaceuticals (REGN): Libtayo® (cemiplimab) Demonstrates Durable Survival Benefit at Five Years in Advanced Non-small Cell Lung Cancer
  • Robinhood Markets (HOOD) reports August operating data; Assets Under Custody (AUC) down 1% from July to $143.6 bln
  • Rocket Lab USA (RKLB) announces the appointment of Frank Klein as its new Chief Operations Officer, effective September 16th, 2024
  • Roivant (ROIV) Unveils New Pipeline Program Mosliciguat, A Potential First-In-Class and Best-In-Category Inhaled Once-Daily Soluble Guanylate Cyclase (sGC) Activator
  • ServiceNow (NOW) announces its plans to integrate Agentic AI into the ServiceNow platform and unlock 24/7 productivity at massive scale across use cases including IT, customer service, procurement, HR, software development, and more
  • Seaport Entertainment Group (SEG) has approved a plan to proceed with and fixed a record date for a $175.0 mln rights offering to purchase up to 7,000,000 shares of its common stock
  • Solaris Resources Inc. (SLSR) provides an update on recent results from the Celestina target area as part of its continuing district exploration program
  • Sony (SONY) reveals PlayStation 5 Pro, the most visually compelling way to play games on Playstation
  • SOPHiA GENETICS SA (SOPH) and AstraZeneca (AZN) collaborate to further expand global access to liquid biopsy testing
  • Southwest Air (LUV): Elliott statement on Southwest Airlines' board resignations
  • Southwest Air (LUV) announces labor deal with Flight Simulator Technicians union
  • Southwest Airlines (LUV) announces next phase of comprehensivE Board refreshment
  • Spectral Capital Corporation (FCCN) announces the acquisition of Quantomo, financial terms were not disclosed
  • Sprott Physical Gold Trust (PHYS) provides update to its “At-The-Market” equity program
  • Starbucks (SBUX): CEO Niccol issues open letter, commenting on plans for SBUX in the years ahead
  • Tesla (TSLA) has integrated Uber (UBER) driver navigation into its EVs, according to Electrek
  • Textron (TXT) subsidiary Airborne Tactical Advantage is among several other companies awarded $5.4 bln U.S. Air Force contract
  • Theravance Biopharma (TBPH) provides investor updates in presentation
  • T-Mobile (TMUS) to Offer All New iPhone 16 Lineup
  • Tyler Tech (TYL) and Envisio announce a strategic partnership to rethink local government budgeting and improve community outcomes by embedding strategic priorities into the budgeting process and tracking and reporting on priority-based budgeting results
  • Uber (UBER) Freight's advances end-to-end logistics with platform enhancements, generative AI-powered tech and expanded final mile offerings
  • UBS (UBS) mulling partnership options for wealth management in India, according to Bloomberg
  • U.S. Steel (X): Nippon Steel (NPSCY) Vice-Chair to meet US officials in attempt to save deal with U.S. Steel amid political opposition, according to FT
  • Verizon (VZ) to offer all-new iPhone 16 lineup
  • Vir Biotechnology (VIR) Announces Closing of Exclusive Worldwide License Agreement With Sanofi for Multiple Potential Best-in-Class Clinical-Stage T-Cell Engagers
  • Viridian Therapeutics (VRDN) announces "positive" topline data from the THRIVE phase 3 clinical trial of VRDN-001, now known as veligrotug, an intravenously delivered anti-insulin-like growth factor-1 receptor antibody, in patients with active thyroid eye disease
  • Volkswagen AG (VWAGY) ends job guarantees for autoworkers in Germany, according to Bloomberg
  • Wave Life Sciences (WVE) receives FDA orphan drug designation for treatment of Duchenne muscular dystrophy
  • World Kinect Corporation (WKC) authorizes additional $200 million share repurchase authorization

Ratings Changes (see Upgrades/Downgrades calendar for full list):

• Upgrades:
  • Alcon (ALC) upgraded to Outperform from Sector Perform at RBC Capital Mkts
  • CrossFirst Bankshares (CFB) upgraded to Buy from Neutral at Janney; tgt $21
  • Delek US Holdings (DK) upgraded to Neutral from Underweight at JP Morgan; tgt raised to $26
  • DraftKings (DKNG) upgraded to Neutral from Underperform at Exane BNP Paribas; tgt $35
  • Equity Residential (EQR) upgraded to Buy from Hold at Deutsche Bank; tgt raised to $83
  • Johnson Controls (JCI) upgraded to Buy from Neutral at BofA Securities; tgt raised to $80
  • Oracle (ORCL) upgraded to Mkt Outperform from Mkt Perform at JMP Securities; tgt $175
  • Relay Therapeutics (RLAY) upgraded to Buy from Hold at Jefferies; tgt raised to $16
• Downgrades:
  • Bionano Genomics (BNGO) downgraded to Neutral from Buy at BTIG Research
  • Coca-Cola European Partners (CCEP) downgraded to Neutral from Outperform at Exane BNP Paribas; tgt $81
  • Costco (COST) downgraded to Neutral from Buy at Redburn Atlantic; tgt raised to $890
  • Limoneira (LMNR) downgraded to Hold from Buy at Lake Street
  • Methanex (MEOH) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $44
  • Nutrien (NTR) downgraded to Neutral from Buy at Goldman; tgt lowered to $53
  • Relay Therapeutics (RLAY) downgraded to Perform from Outperform at Oppenheimer
• Others:
  • Adient (ADNT) resumed with a Hold at Deutsche Bank; tgt $24
  • American Axle (AXL) resumed with a Hold at Deutsche Bank; tgt $6
  • Aptiv (APTV) resumed with a Hold at Deutsche Bank; tgt $74
  • Ascendis Pharma (ASND) added to 30-day positive catalyst watch at Citigroup
  • Autoliv (ALV) resumed with a Buy at Deutsche Bank; tgt $116
  • BorgWarner (BWA) resumed with a Hold at Deutsche Bank; tgt $36
  • Butterfly Network (BFLY) initiated with a Buy at Lake Street; tgt $3
  • CubeSmart (CUBE) initiated with an Outperform at RBC Capital Mkts; tgt $56
  • CVRx, Inc. (CVRX) initiated with an Overweight at Cantor Fitzgerald; tgt $14
  • Dana Inc (DAN) resumed with a Hold at Deutsche Bank; tgt $12
  • Dell (DELL) initiated with a Neutral at Susquehanna; tgt $120
  • e.l.f. Beauty (ELF) initiated with a Buy at B. Riley Securities; tgt $175
  • Estee Lauder (EL) initiated with a Neutral at B. Riley Securities; tgt $95
  • Extra Space Storage (EXR) initiated with a Sector Perform at RBC Capital Mkts; tgt $180
  • Ford Motor (F) resumed with a Hold at Deutsche Bank; tgt $11
  • GE Aerospace (GE) initiated with an Outperform at Bernstein; tgt $201
  • General Motors (GM) resumed with a Hold at Deutsche Bank; tgt $53
  • Haemonetics (HAE) initiated with a Buy at BTIG Research; tgt $112
  • Harmony Biosciences (HRMY) initiated with a Buy at UBS; tgt $56
  • Honest Company (HNST) initiated with a Buy at B. Riley Securities; tgt $6.50
  • Kura Sushi (KRUS) initiated with a Buy at Northcoast; tgt $79
  • Lear (LEA) resumed with a Hold at Deutsche Bank; tgt $132
  • Longboard Pharmaceuticals (LBPH) initiated with a Buy at Truist; tgt $60
  • Luminar Technologies (LAZR) resumed with a Hold at Deutsche Bank; tgt $1
  • Meta Platforms (META) initiated with a Buy at DA Davidson; tgt $600
  • MKS Instruments (MKSI) initiated with an Overweight at Cantor Fitzgerald; tgt $140
  • Mobileye Global (MBLY) resumed with a Hold at Deutsche Bank; tgt $15
  • Phibro Animal Health (PAHC) initiated with a Neutral at JP Morgan; tgt $22
  • Polestar Automotive Holding UK PLC (PSNY) resumed with a Hold at Deutsche Bank; tgt $1.50
  • ProKidney Corp. (PROK) initiated with a Buy at Guggenheim; tgt $6
  • Public Storage (PSA) initiated with a Sector Perform at RBC Capital Mkts; tgt $358
  • QuantumScape Corporation (QS) resumed with a Hold at Deutsche Bank; tgt $6
  • Relay Therapeutics (RLAY) resumed with a Buy at Goldman; tgt $20
  • Rivian Automotive (RIVN) resumed with a Hold at Deutsche Bank; tgt $14
  • SES AI Corporation (SES) resumed with a Hold at Deutsche Bank; tgt $1.50
  • Skye Bioscience (SKYE) initiated with a Mkt Outperform at JMP Securities; tgt $15
  • SKYX Platforms (SKYX) initiated with a Buy at ROTH MKM; tgt $2
  • Spire Global (SPIR) resumed with a Buy at Canaccord Genuity; tgt lowered to $12
  • Stock Yards Bancorp (SYBT) resumed with a Neutral at Piper Sandler; tgt $65.50
  • Stryker (SYK) initiated with an Outperform at Wolfe Research; tgt $405
  • Tesla (TSLA) resumed with a Buy at Deutsche Bank; tgt $295
  • Ulta Beauty (ULTA) initiated with a Sell at B. Riley Securities; tgt $300
  • Visteon (VC) resumed with a Buy at Deutsche Bank; tgt $124
  • Zimmer Biomet (ZBH) initiated with a Peer Perform at Wolfe Research
  • ZIM Integrated Shipping (ZIM) resumed with an Underweight at JP Morgan; tgt $10.50

• Econ Data (Wednesday):
  • 7:00 ET: Weekly MBA Mortgage Index (prior 1.6%)
  • 8:30 ET: August CPI (Briefing.com consensus 0.2%; prior 0.2%) and Core CPI (Briefing.com consensus 0.2%; prior 0.2%)
  • 10:30 ET: Weekly crude oil inventories (prior -6.87 mln)
• Treasury Auctions:
  • 13:00 ET: $39 bln 10-yr Treasury note auction results
• Earnings:
  • Monday (Sept 9)
    • Pre-Market: None
    • After-Hours: CVGW AVO ORCL RBRK
  • Tuesday (Sept 10)
    • Pre-Market: ASO CGNT
    • After-Hours: PLAY GME WOOF
  • Wednesday (Sept 11)
    • Pre-Market: DBI
    • After-Hours: OXM
  • Thursday (Sept 12)
    • Pre-Market: CAL KR LOVE SIG
    • After-Hours: ADBE RH
  • Friday (Sept 13)
    • Pre-Market: None
    • After-Hours: None
General Motors: 5,000 members at GM's Arlington, TX assembly plant join UAW strike