Daily Playbook

January 4, 2013

In After Hours Trading

ANGO (+.01), PRGS (-.10), SHLM (+.01).

What’s Happening This Morning

US futures: (S&P Unchanged, DJI -4, NDX +4 with fair value flat) Asia and Europe mixed. Copper and gold lower with WTI Crude Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0437. Prices as of 7:55 a.m. EST.

Earnings Expected

Next week starts earnings season as AA kicks off earnings on Tuesday after the close followed by notables STZ SVU WFC.

Rags & Mags: Inside Wall Street

We are big fans of www.247wallst.com summary of the newspapers each day. Going forward we will link to their website so you can read their summary, Media Digest

Reported Earnings This Morning

FINL (-.10), MOS (+.07).

Data Points

Yesterday saw 1706 stocks rise and 1330 fall on the NYSE. NASDAQ saw 1187 rise and 1287 fall. The S&P 500 now back above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is positive. We are back to invested on the Madison Market Timing Indicator.

 

Economics

December Nonfarm Payrolls and the monthly unemployment rate are due out at 8:30 a.m. EST and is expected to rise to 150,000 from 146,000 and remain at 7.7%. Meanwhile, at 10:00 a.m. EST November Factory Orders is expected to drop to 0.4% from 0.8%.

Politico

President Obama is now basking in the sun of Hawaii until next Monday as the Fiscal Cliff has been “kinda solved”. Next week the debate on the debt ceiling kicks into gear.

 

Federal Reserve Presidents Plosser and Bullard speak at 1:15 p.m. EST and 5:30 p.m. EST. Federal Reserve Vice Chairman Janet Yellen speaks at 3:30 p.m. EST.

Conference & Analyst Meetings

IEEE International Nanoelectronics Conference 2013 with CSCO and IBM presenting. LLY issued guidance early this morning reaffirming guidance for FY 2012 and raised FY 2013 guidance above estimates.

Conference of Note

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs STI ZQK SKT FDS
Morgan Stanley
Deutsche Bank
Citigroup
Barclays
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Lazard
Merrill Lynch AVP ABBV EHTH AEC
Jefferies
Cantor Fitzgerlad
Dahlman Rose
Sterne Agee
Stifel Nicolaus ARUN APKT
Societe Generale
Keefe Bruyette BXS
Friedman Billings
Robert W. Baird ESE
Needham MAT
Sun Trust RH
PiperJaffray
RBC
RBS
Raymond James FSLR
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Daily Playbook

January 4, 2013

In After Hours Trading

ANGO (+.01), PRGS (-.10), SHLM (+.01).

What’s Happening This Morning

US futures: (S&P Unchanged, DJI -4, NDX +4 with fair value flat) Asia and Europe mixed. Copper and gold lower with WTI Crude Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0437. Prices as of 7:55 a.m. EST.

Earnings Expected

Next week starts earnings season as AA kicks off earnings on Tuesday after the close followed by notables STZ SVU WFC.

Rags & Mags: Inside Wall Street

We are big fans of www.247wallst.com summary of the newspapers each day. Going forward we will link to their website so you can read their summary, Media Digest

Reported Earnings This Morning

FINL (-.10), MOS (+.07).

Data Points

Yesterday saw 1706 stocks rise and 1330 fall on the NYSE. NASDAQ saw 1187 rise and 1287 fall. The S&P 500 now back above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is positive. We are back to invested on the Madison Market Timing Indicator.

 

Economics

December Nonfarm Payrolls and the monthly unemployment rate are due out at 8:30 a.m. EST and is expected to rise to 150,000 from 146,000 and remain at 7.7%. Meanwhile, at 10:00 a.m. EST November Factory Orders is expected to drop to 0.4% from 0.8%.

Politico

President Obama is now basking in the sun of Hawaii until next Monday as the Fiscal Cliff has been “kinda solved”. Next week the debate on the debt ceiling kicks into gear.

 

Federal Reserve Presidents Plosser and Bullard speak at 1:15 p.m. EST and 5:30 p.m. EST. Federal Reserve Vice Chairman Janet Yellen speaks at 3:30 p.m. EST.

Conference & Analyst Meetings

IEEE International Nanoelectronics Conference 2013 with CSCO and IBM presenting. LLY issued guidance early this morning reaffirming guidance for FY 2012 and raised FY 2013 guidance above estimates.

Conference of Note

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs STI ZQK SKT FDS
Morgan Stanley
Deutsche Bank
Citigroup
Barclays
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Lazard
Merrill Lynch AVP ABBV EHTH AEC
Jefferies
Cantor Fitzgerlad
Dahlman Rose
Sterne Agee
Stifel Nicolaus ARUN APKT
Societe Generale
Keefe Bruyette BXS
Friedman Billings
Robert W. Baird ESE
Needham MAT
Sun Trust RH
PiperJaffray
RBC
RBS
Raymond James FSLR
Comments are closed.