January 25, 2013
In After Hours Trading
Earnings of note released after the close T -.02 CPHD +.09 CRUS +.22 CVD +.02 EFII +.07 FLEX +.02 JNPR +.06 MXIM +.01 MSFT +.01 SBUX IN LINE TPX +.05 VRSN +.08. Secondary Offerings announced ARGO due this morning CHUY MCP. IPOs due LPDX BFAM. 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 +4.50, DJI +36, NDX +11.50 with fair value lower) Asia and Europe higher ex Shanghai. Copper and gold lower with WTI Crude higher & Brent Oil Futures lower. $ is lower vs Euro, loweer vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0526. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings reports continue to be heavy next week.
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
COV +.04 HAL +.06 HON +.01 IMGN -.04 KMB +.02 OSK +.27 PG +.11 WY +.06
Data Points
Yesterday saw 1669 stocks rise and 1311 fall on the NYSE. NASDAQ saw 1370 rise and 1098 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 New Home Sales are due out at 10:00 a.m. EST and is expected to rise to 385,000 from 377,000.
Politico
Filibuster Reform passes the Senate convincingly.
Conference & Analyst Meetings
CIBC 16th Annual Whistler Institutional Investor Confernce. Analyst meetings of note WPI.
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 | SNI | |
| Deutsche Bank | ||
| Citigroup | WNS | JNS |
| Merrill Lynch | SNE | UAL |
| Wachovia/Wells Fargo | ||
| Credit Suisse | JNS | |
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | ||
| Dahlman Rose | HBNC AGU |
