January 30, 2013
In After Hours Trading
AMZN (-.06) BBOX (+.14)BRCM (+.02) FSL (+.03) MANH (+.05) PLT (+.05) RYL (+.05) UIS (+.67) WBSN (+.01). CHK CEO steps down in Arpil as this corporate thief is kicked out.
What’s Happening This Morning
US futures: (S&P -1.50, DJI -4, NDX +0.50 with fair value lower) Asia higher and Europe lower. Copper and gold higher with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0127. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings reports due after the close QCOM COP FB AMP AVB CTXS MUR STM DOX EA SWKS. Due tomorrow morning among others NVO UPS OXY MO MA AZN CL EPD DB DOW POT ERIC D TWC.
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
ADT (+.01)ABFS (-.18) BA (+.08) HES (+.40) LLL (+.13) MPC (+.23) MWV (-.12) NOC (+.39)SLAB (+.03) SO (+.04).
Data Points
Yesterday saw 1742 stocks rise and 1234 fall on the NYSE. NASDAQ saw 1342 rise and 1099 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
ADP Payroll Survey will be released at 8:15 a.m. EST and it is expected the economy added 165,000 jobs. Q4 GDP is due out at 8:30 a.m. EST and is expected to drop to 1.2% versus 3.1% a year ago. Weekly Crude Inventories due out at 10:30 a.m. EST
Politico
The Federal Reserve Open Market Committee (FOMC) will release its latest Policy Update at 2:15 p.m. EST.
Conference & Analyst Meetings
Analyst meetings KMP. African Mining Congress meets.
Conference of Note
Research In Motion (RIMM) releases their Blackberry 10 phone today and holds event in New York City at 12:00 p.m. EST.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | WPPGY | |
| Raymond James | JBLU | |
| Bernstein | ||
| Credit Agricole | F |
