In After Hours Trading
CBI (+.08) JCP (-1.78) LTD (+.02) MYL (+.01) MNST (-.02). Secondaries announced CCG DFRG NEO CWH TSRO TRS AGNC DPM MPW. Due out today CWH NEO TSRO.
What’s Happening This Morning
US futures: (S&P +2.00, Dow Jones +10, NDX +5.00 with fair value a bit lower) Asia and Europe higher. Copper higher and gold lower with WTI Crude lower and Brent Oil Futures higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0241. Prices as of 7:35 a.m. EST.
Earnings Expected
Due after the close CRM GPS UHS DRC PANW SPLK ENDP BID DECK PDLI and tomorrow MGA FWLT SUP AMRC before the open TD 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
CHS (IN LINE) KSS (+.03) TD (+.07) WNR (+.10) JOY (+.17) STWD (+.06) TGT (IN LINE).
Data Points
Yesterday saw 2303 stocks rise and 702 fall on the NYSE. NASDAQ saw 1648 rise and 809 fall. The S&P 500 is 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
Q4 GDP is released at 8:30 a.m. EST and is expected to improve to 0.5% from the first release of -0.1%. Weekly Jobless Claims due out at the same time. Chicago PMI at 9:45 a.m. EST with Kansas City Fed Regional Manufacturing Survey at 11:00 a.m. EST.
Politico
Thursday sees several Federal Reserve officials speak at the Atlanta Federal Reserve banking forum. The Sequester Deadline hits at midnight.
Conference & Analyst Meetings
Analyst meetings DUK STT VOLVY HBI WLP . Morgan Stanley Tech, Media & Telecom Conference, Simmons Energy Conference and Lazard Med Tech & Life Sciences Tools Snowbird Conference.
Conference of Note
The Mobile World Congress in Barcelona.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | INXN | |
| Morgan Stanley | SKS | |
| Deutsche Bank | ||
| Citigroup | AXLL | |
| Merrill Lynch | GRPN | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | SGMO | |
| Credit Agricole | ||
| Jefferies | ||
| Raymond James | GRPN |
So that’s what happened at 11, gave the futures a 3 handles booster.