In After Hours Trading
Argo won Best Picture at the Oscars lst night.www
What’s Happening This Morning
US futures: (S&P +7.75, Dow Jones +59, NDX +21 with fair value slightly lower) Asia and Europe higher. Copper and gold higher with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0104. Prices as of 7:35 a.m. EST.
Earnings Expected
Due after the close HCN OKS OKE ADSK MR MELI OAS URS CHMT SF TUMI CZR VVUS VECO and HD BMO AMT ECL SRE M AZO HFC CE EXPD THC USM TDS RBA SHOO VSI SKS BZ tomorrow before the open
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
DCI (-.04) HTZ (+.021) LOW (+.03).
Data Points
Yesterday saw 2244 stocks rise and 735 fall on the NYSE. NASDAQ saw 1658 rise and 703 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 last week which can be found on www.superstockinvestor.com.
Economics
Quiet day with nothing on deck.
Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims along with consumer confidence, new home sales, durable goods, Q4 GDP, personal income, construction spending and ISM manufacturing.
Federal Reserve Atlanta President Lockhart speaks at 7:00 p.m. EST.
Politico
President Obama addresses the nation’s governors.
Conference & Analyst Meetings
Analyst meetings DRI. Morgan Stanley Tech, Media & Telecom Conference, JP Morgan Global High Yield & Leverage Finance Conference and Citi Global Healthcare Conference.
Conference of Note
The Mobile World Congress runs through Thursday in Barcelona.
M & A News
Royalty Pharma makes $11 bid for ELN.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ABAX | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Piper Jaffray | ENDP | |
| Jefferies | ||
| Raymond James | WBMD | |
| Sun Trust Robinson Humphrey | STZ |
