January 31, 2013
In After Hours Trading
ACXM (+.03) DOX (+.03) ATW (+.17) CACI (+.05) CTXS (+.06) COP (-.04) EA (+.01) FB (+.02) JDSU (+.04) MUR (-.56) QCOM (+.14) SGI (+.02) TSCO (+.08).
What’s Happening This Morning
US futures: (S&P -0.25, DJI -1, NDX -6.50 with fair value higher) Asia and Europe lower ex Japan which was higher. Copper and gold lower with WTI Crude and Brent Oil Futures flat to lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0125. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings reports due after the close MCK CB EMN PFG PCR TRMB MCHP CPT ESS FBHS N PKI CYMI BYI. Due tomorrow morning among others XOM CVX MRK LYB NOV BEN AEP AON IR MAT PRGO TSN NWL LM TDW BEAM.
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
AET (-.02) MO (+.012) AZN (+.19) AN (+.03) CL (+.012) DOW (-.03) DNKN (+.01) HP (+.11) HSY (-.02) (-.56) MJN (+.04) TMO (+.08) UA (+.01) UPS (-.06) WHR (+.04) ZMH (+.02).
Data Points
Yesterday saw 990 stocks rise and 1961 fall on the NYSE. NASDAQ saw 752 rise and 1719 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
Weekly Jobless Claims takes on added significance in front of Friday’s Monthly Job’s Report. December Personal Income is due out at 8:30 a.m. EST and is expected to rise to 0.8% versus 0.6%.
Politico
Vice President Biden meets with Senate Democratic Caucus.
Conference & Analyst Meetings
Analyst meetings VTSS DLR. African Mining Congress and SEMICON Korea meet.
Conference of Note
None of note.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | NAZBY | |
| Merrill Lynch | VALE CTXS | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | FIO | |
| Barclays | ||
| Jefferies | ||
| Raymond James | ||
| Bernstein | KEY RF | |
| Credit Agricole | ||
| Stifel Nicolaus | ||
| Societe Generale | ||
| Keefe Bruyette | ||
| Friedman Billings | CLB | |
| Robert W. Baird | ||
| Needham | JDSU |
