In After Hours Trading
SAM (-.03) CAKE (-.01) FLR (+.60) FST (+.04) STR (+.01) SNPS (+.12) WMB (-.01) AUY (+.01). Lower guidance from LOCK RBCN WMB.
Secondary Offerings this morning KORS. Secondaries filed yesterday TRW GNRC KMP TAL. No IPOS today. (Courtesy of IPO Financial Network)
What’s Happening This Morning
US futures: (S&P -3.50, Dow Jones -32, NDX -10.20 with fair value higher) Asia and Europe lower. Copper and gold lower with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0225. Prices as of 7:35 a.m. EST.
Earnings Expected
Due after the close AIG HPQ PSA TS NEM INTU MGA SWN COG JWN MNST SBAC HTZ FLS and tomorrow morning AGU CHTR EGO PNW IPG LNG ANF WCRX HMSY POR among others.
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
CG (-.19) CHK (+.12) DAN (+.03) IMAX (+.07) SAFM (-.31) TFX (+.03) WMT (+.10).
Data Points
Yesterday saw 712 stocks rise and 2311 fall on the NYSE. NASDAQ saw 543 rise and 1961 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 which can be found on www.superstockinvestor.com.
Economics
January CPI is released at 8:30 a.m. EST and is expected to increase to 0.1% from 0%. Then at 10:00 a.m. EST, January Existing Home Sales are expected to drop to 4.90 million from 4.95 million and January Leading Indicators are expected to drop to 0.2% from 0.5%.
Also, Weekly Jobless Claims are due out at 8:30 a.m. EST and Philly Fed Manufacturing due out at 10:00 a.m. EST.
Politico
Federal Reserve St. Louis President Bullard speaks at 12:30 p.m. EST and is followed by Federal Reserve San Francsicos President Williams at 1:00 p.m. EST.
Conference & Analyst Meetings
Analyst meetings WGL MOH RLOC. Consumer Analyst Group of NY Conference, Bank of America Merrill Lynch India Investor Conference and Barclays Capital Industrial Conference.
Conference of Note
Barclays Capital Industrial Conference.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | NKE | |
| Merrill Lynch | TSLA | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | AAUKY |
