In After Hours Trading
AIRM (+.11) DECK (+.15) GPS (+.02) (+.01) MTZ (+.01) MDR (-.06) OVTI (+.15) PANW (+.01) CRM (+.11) SD (+.06) TESO (+.12). Secondaries announced . Due out today .
What’s Happening This Morning
US futures: (S&P -8.25, Dow Jones -60, NDX -13 with fair value a bit lower) Asia ex Shanghai and Europe lower. Copper and gold lower with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0275. Prices as of 7:35 a.m. EST.
Earnings Expected
No earnings 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
FWLT(-0.19) NWN (-.05).
Data Points
Yesterday saw 1528 stocks rise and 1453 fall on the NYSE. NASDAQ saw 1201 rise and 1247 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 moved to cash on the Madison Market Timing Indicator last week which can be found on www.superstockinvestor.com.
Economics
January Personal Income is due out at 8:30 a.m. EST and is expected to drop to -2.1% versus 2.6%. Then at 10:00 a.m. EST January Construction Spending is due out and expected to fall to 0.4% versus 0.9%. Also, at the same time ISM Manufacturing is due out at expected to fall to 52.5 from 53.10.
March car and truck sales due at 2:00 p.m. EST.
Politico
President Obama meets with Congressional leaders as the Sequester kicks into gear at 8:00 a.m. EST. Federal Reserve Chairman Bernanke speaks tonight on low long term interest rates
Conference & Analyst Meetings
Analyst meetings BPOP KEYW. Simmons Energy Conference and Lazard Med Tech & Life Sciences Tools Snowbird Conference.
Conference of Note
American Academy of Dermatology Annual Meeting.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | DB | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | PCLN | |
| Credit Agricole | ||
| Jefferies | ADSK | |
| Raymond James | ||
| Sun Trust Robinson Humphrey | ||
| Cantor Fitzgerald | ISRG | SLXP |
