In After Hours Trading
ADSK (+.04) CHUY (+.01) MELI (+.08) MR (+.12) URS (-.01) VVUS (-.12)
Secondaries filed after the close CWH. IPOs up this morning BIT and secondaries to be priced EEQ AWAY.
What’s Happening This Morning
US futures: (S&P +4.25, Dow Jones +36, NDX +5.20 with fair value lower) Asia and Europe lower. Copper lower and gold higher with WTI Crude and Brent Oil Futures lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield +.0085. Prices as of 7:45 a.m. EST.
Earnings Expected
Due after the close and PCLN VNO EIX RRC VRSK AVGO AWK SPN BIO JAXX FSLR TIVO PZZA DWA tomorrow before the open TGT TJX DLTR CNP AES JOY NRG LAMR CRI ITT FIG MHR 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
AZO (+.08) BMO (+.06) HD (+.03) RSH (-.58) RRD (+.06) SHOO (+.02).
Data Points
Yesterday saw 675 stocks rise and 2376 fall on the NYSE. NASDAQ saw 464 rise and 2039 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 now negative but our buy has not been concluded yet. We just moved to cash on the Madison Market Timing Indicator last week which can be found on www.superstockinvestor.com.
Economics
February Consumer Confidence is released at 10:00 a.m. EST and is expected to come in at 60.50 versus 58.6. At the same time, January New Home Sales are released and are expected to improve to 380,000 versus 369,000.
Politico
Federal Reserve Chairman Bernanke begins two days of Humphrey Hawkins testimony before the House and Senate.
Conference & Analyst Meetings
Analyst meetings JPM DLPH. Morgan Stanley Tech, Media & Telecom Conference, JP Morgan Global High Yield & Leverage Finance Conference, RBC Global Healthcare Conference, Goldman Sachs Agribusiness Conference and Citi Global Healthcare Conference.
Conference of Note
The Mobile World Congress runs through Thursday in Barcelona.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | TPH | |
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Credit Agricole | LO | |
| Jefferies | IP |
