In After Hours Trading
AVAV (-.21) JMBA (+.02) NTRI (-.04) SSW (-.01) SWHC (+.03) PAY (+.03).
Secondaries announced DISCK O MTG ARI. Pricings for today ARI MHO O. No IPOs on deck for today.
Listings courtesy of IPO Financial Network (www.ipofinancial.com)
What’s Happening This Morning
US futures: (S&P +5.25, Dow Jones +44, NDX +4.80 with fair value a bit lower) Asia and Europe higher. Copper lower and gold higher with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield +.0172. Prices as of 7:45 a.m. EST.
Earnings Expected
Earnings due after the close PETM PNY DK MTN SMTC OILT WPRT VECO ALJ. Due tomorrow morning CNQ KR WSM SFD NAV FGP CIEN PRIM CMN SRPT BLT BWS.
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
BIG(+.10) SPLS (+.01) TFM (-.01).
Data Points
Yesterday saw 2229 stocks rise and 773 fall on the NYSE. NASDAQ saw 1683 rise and 704 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 BACK TO POSITIVE so 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 Factory Orders are due out at 10:00 a.m. EST and is expected to come in at -2.2% against 1.8%. The ADP Monthly Jobs Report is due out at 8:15 a.m. EST as the first of the monthly jobs data is released.
Politico
The Bank of Canada will announce any changes to its interest rate policy at 10:00 a.m. EST. Federal Reserve Dallas President Richard Fisher speaks at 9:30 a.m. EST and then again at 19:30 a.m. EST.
Conference & Analyst Meetings
Analyst meetings TLM XOM HON SWY. Raymond James Conference, Deutsche Bank Media & Telecom Conference, Cowen Health Care Conference, Barclays Internet Connect Conference and Wells Fargo Exploration & Prduction Forum.
Conference of Note
UBS Trends In Wireless
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | BFAM | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Piper Jaffray | ||
| Jefferies | BBY |
