February 13, 2013
In After Hours Trading
AMSC(+.04) ASEI (+.15) BNNY(+.01) ACGL (+.33) CHH (+.04) CGNX (+.02) DNB (-.01) FWRD (+.04) LGF (+.07) MAS (+.04) NLSN (+.04) TWTC (-.04).
What’s Happening This Morning
US futures: (S&P -0.50, DJI +1, NDX -3.20 with fair value higher) Japan lower and China closed through Thursday, Europe higher. Copper and gold higher with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.004. Prices as of 7:35 a.m. EST.
Earnings Expected
Due after the close FTI RAX WU FRT WSH CLF DDR ACC VMI GWR SGEN SKT and CMCSA DUK DE KRFT TRI LO TLM DPS CPN HSIC H ANF DF SON CAE tomorrow morning.
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
AVP(+.10) FIS (-.01) KORS (+.23) OMC (+.03) RAI (+.03) ZBRA (+.02)
Data Points
Yesterday saw 1340 stocks rise and 1635 fall on the NYSE. NASDAQ saw 1108 rise and 1267 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.
Markets are closed in China through Thursday.
Economics
NFIB Business Survey due out this morning pre-market 88.9, which is near the multi-year nadir as it rose from 88.
Politico
Federal Reserve Kansas City President Esther George speakS about the economy as will Federal Reserve Richmond and Philadelphia Presidents Lacker and Plosser. At night President Obama delivers the State of the Union.
Conference & Analyst Meetings
Analyst meetings LF BSX FIS. Credit Suisse Financial Conference, Goldman Sachs Technology & Internet Conference, Stifel Nicolaus Transportation & Logistics Conference, Pacific Crest Emerging Technology Sunnit and the Molecular Medicine Tri-Conference 2013.
Conference of Note
Annual BIO CEO & Investor Conference. AAPL to present at Goldman Sachs Technology & Internet Conference with CEO Tim Cook to speak.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | BYD | |
| Morgan Stanley | DANOY | |
| Deutsche Bank | ||
| Citigroup | NMM | |
| Merrill Lynch | SPH URI | CBB |
