February 8, 2013
In After Hours Trading
ATVI (+.06) COLM (+.012) HAS (-.20) LNKD (+.16) MCHP (+.02) NCR (+.02) PRI (-.03) RVBD (.00) XL (+.45).
What’s Happening This Morning
US futures: (S&P +0.50, DJI -5, NDX +4.80 with fair value slightly higher) Asia higher ex Japan and Europe higher. Copper and gold higher with WTI Crude and Brent Oil Futures higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0177. Prices as of 7:55 a.m. EST.
Earnings Expected
Due after the close CCJ MTGE.
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
AOL(+.01) CSL (+.04) ETR(+.01) IVC (+.12) LH (-.08) NBIX (+.22) SIRO (+.09)
Data Points
Yesterday saw 1280 stocks rise and 1698 fall on the NYSE. NASDAQ saw 929 rise and 1520 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 Trade Balance is due out at 8:30 a.m. EST and is expected to come in at $-42.5 billion against $-45.4 billion. USDA Crop Report is due at 8:30 a.m. EST.
Politico
Federal Reserve Minneapolis President Kocherlakota speaks at 3:45 p.m. EST.
Conference & Analyst Meetings
Analyst meetings QLIK MAT GLW. BMO 210th Annual Infrastructure & Utilties Conference.
Conference of Note
Hempcon 2013.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | BIIB | |
| Merrill Lynch | ACM VOD | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | ||
| Raymond James | ||
| KeyBanc | ||
| Cantor Fitzgerald | ||
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | ESE |
