January 23, 2013
In After Hours Trading
Earnings of note released after the close AMD +.05 ALB +.16 CA +.02 CLS +.06 CPWR +.02 CREE +.02 CSX +.04 ETH +.01 GOOG +.09 IBM +.14 IGT +.04 ISRG +.23 NSC +.10 TXN +.02 UMBF -.14. Secondary Offerings announced NMRX SNH IVR DM KBH with IVR NMRX SNH due this morning. IPO and Secondary information due courtesy of IPO Financial for their ranks we would direct you to: http://www.ipofinancial.com.
What’s Happening This Morning
US futures: (S&P -2.00, DJI -2, NDX +1.25 with fair value lower) Asia and Europe mixed. Copper and gold higher with WTI Crude & Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.007. Prices as of 7:55 a.m. EST.
Earnings Expected
Due after the close AAPL AMGN SYK CCI SYMC SNDK WDC ALTR NE VAR FFIV LRCX BKW JEC RJF NFLX URI and due tomorrow morning MMM UNP BMY CELG BAX LMT PCP RTN ETN NOK GWW SWK DOV ABC AME XRX EQT MKC.
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
ABT +.01 APD +.01 ATI +.03 BHI +.01 CHKP +.03 COH -.06 MOLX +.01 MSI +.08 NVS -.04 PX +.01 DGX -.05 SAP -.10 STJ +.01 TXT -.02 UTX +.01 WLP +.08.
Data Points
Yesterday saw 2084 stocks rise and 926 fall on the NYSE. NASDAQ saw 1538 rise and 925 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
The Bank of England releases its latest minutes before the market opens. Rate decision due from the Bank of Canada as well.
Politico
House to vote on debt ceiling extension.
Conference & Analyst Meetings
CIBC 16th Annual Whistler Institutional Investor Confernce. Analyst meetings of note QCOM FFIV CTIC.
Conference of Note
World Economic Forum begins in Davos, Switzerland.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | INCY | |
| Deutsche Bank | ||
| Citigroup | STR NVS | |
| Barclays | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | FIS | |
| Lazard | N | |
| Merrill Lynch | ||
| Jefferies | HRG | |
| Dahlman Rose | ANR WLT | |
| Bernstein | FTE | |
| KeyBanc | PAG GPI |
