January 24, 2013
In After Hours Trading
Earnings of note released after the close ALTR -.02 AMGN -.02 AAPL +.26 FFIV -.01 LRCX +.01 LOGI -1.55 MLNX +.03 NFLX +.27 NE -.12 PMTC + 03 SNDK +.30 TER +.06 URI +.26 WDC +.28. Secondary Offerings announced ARIA BPL MCP due this morning ARCP ARIAD BPL KBH . 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 -3.00, DJI +6, NDX -35.50 with fair value lower) Asia and Europe mixed. Copper and gold lower with WTI Crude higher & Brent Oil Futures lower. $ is higher vs Euro, loweer vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0095. Prices as of 7:55 a.m. EST.
Earnings Expected
Due after the close MSFT T SBUX ED JNPR MXIM KLAC RMD MXIM RHI FLEX CVD MCRS CPHD CRUS and due tomorrow morning PG HON HAL KMB COV AEP WY LM OSK IMGN.
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
AOS +.12 ARG -.04 ALK -.02 ABC +.02 BMY +.04 CSH +.09 DOV +.02 NOK +.01 QSII -.03 LUV +.01 TDY +.09UNP +.03 UAL +2.11.
Data Points
Yesterday saw 1421 stocks rise and 1546 fall on the NYSE. NASDAQ saw 1039 rise and 1419 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 Leading Indicators are due out at 10:00 a.m. EST and are expected to improve to 0.4% from -0.2%. Weekly Jobless Claims due at 8:30 a.m. EST.
Politico
Conference & Analyst Meetings
CIBC 16th Annual Whistler Institutional Investor Confernce.
Conference of Note
World Economic Forum begins in Davos, Switzerland.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | GOL | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | GOLD ASML | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | NFLX | |
| Barclays | ||
| Jefferies | ||
| Dahlman Rose | ||
| Bernstein | ||
| KeyBanc | ||
| Stifel Nicolaus | ||
| Societe Generale | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | SNDK | |
| Sun Trust RH | TMK | PRI |
