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Daily Playbook Facebook Announcement Due At …

January 15, 2013

In After Hours Trading

No earnings of note after the close. LULU lowered guidance and stock lower. GCOM to explore possible sale. Secondaries announced by GGC ITMN ADC SUNS GBDC CHUY.

What’s Happening This Morning

US futures: (S&P -5.25, DJI -32, NDX -7.75 with fair value lower) Asia and Europe higher. Copper lower and gold higher with WTI Crude & Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0211. Prices as of 7:35 a.m. EST.

Earnings Expected

LLTC FULT ADTN IBJR PNFP RNST due after the close. Due tomorrow morning JPM GS USB SCHW MTB NTRS CMA FRC WEN among others.

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

LEN (+.11).

Data Points

Friday saw 1486 stocks rise and 1486 fall on the NYSE. NASDAQ saw 1152 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.



December PPI and Retail Sales are due out at 8:30 a.m. EST and are expected to improve to -0.1% from -0.8% and drop to 0.2% from 0.3%.


Federal Reserve Presidents speak at various times today Rosengren (8:00 a.m. EST), Kocherlakota (8:50 a.m. EST) and Plosser (12:30 p.m. EST).

Conference & Analyst Meetings

TD Securities London Energy Conference, UBS Greater China Conference, Needham Growth Conference, Deutsche Bank Global Auto Conference and Deutsche Bank China Conference. Analyst meetings HPQ and the meeting of the day FB (1:00 p.m. EST).

Conference of Note

The North American Auto Show begins in Detroit. National Retail Federation Annual Convention.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs PDCO
Morgan Stanley
Deutsche Bank
Citigroup PDH
Wachovia/Wells Fargo
Credit Suisse LOGI
Banc of America
Lazard NKTR
Merrill Lynch VPHM CELG
Raymond James
Dahlman Rose CLF
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