In After Hours Trading
AGU (+.31) ARUN (+.03) BBG (+.05) BLMN (+.01) HPQ (+.11) HNZ (+.09) MRVL (+.06) MHK (+.07) JWN (+.06) ONXX (+.40). Lower guidance from CEC OFIX .
Secondary Offerings this morning ACHN. Secondaries filed yesterday ACHN IMMU. No IPOS today. (Courtesy of IPO Financial Network)
What’s Happening This Morning
US futures: (S&P +7.25, Dow Jones +57, NDX +11.25 with fair value lower) Asia mixed and Europe higher. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0112. Prices as of 7:35 a.m. EST.
Earnings Expected
None of note due after the close. It’s Miller Time have a good weekend!
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
ANF (+.06) B (+.03) CYBX (+.08) FRO (+.26) GDI (+.15) IPG (+.03) POR (-.03).
Data Points
Yesterday saw 889 stocks rise and 2104 fall on the NYSE. NASDAQ saw 761 rise and 1720 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 just moved to cash on the Madison Market Timing Indicator which can be found on www.superstockinvestor.com.
Economics
Quiet day with nothing on deck.
Politico
Federal Reserve Governor Powell and Tarullo speak along with Federal Reserve Boston President Rosengren about the fiscal crisis and monetary policy. This morning CNBC host is Federal Reserve St. Louis President James Bullard (markets love this guy watch his comments).
Elections begin in Italy
Conference & Analyst Meetings
Analyst meetings RHT INWK. Consumer Analyst Group of NY Conference, Bank of America Merrill Lynch India Investor Conference and Morningstar Ibbotson Conference.
Conference of Note
Russia & CIS Executive Summitt Downstream Oil & Gas.
M & A News
KKR to bid $75 a share for GDI.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ISG | BCR |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | TSS | |
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | WEN | |
| Banc of America | ||
| UBS | ||
| Lazard | RFMD | |
| Barclays | ||
| Jefferies | STT OFG | |
| Raymond James | ||
| ABN Amro | ||
| Cantor Fitzgerald | ||
| Credit Agricole | ||
| Dahlman Rose | FTI |
