In After Hours Trading
ALIM (+.06) MU (-.09) NKE (+.06) NWY (+.02) RUE (+.02). Secondaries filed GPK FRGI LNCO ABR. Secondaries to be priced PYMX FRGI GPK. IPOS to be priced Five Oaks Investment (OAKS) HF2 Financial Mgmt (HTWO) West Corp (WSTC) Marin Software (MRIN) . Coourtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +4.50, Dow Jones +43, NDX +7.80 with fair value a tad higher) Asia mixed and Europe mixed. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury Yield +0.0086. Prices as of 7:45 a.m. EST.
Earnings Expected
No reports due after the close. Its Miller Time. Enjoy the 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
DRI (+.01) TIF (+.04)
Data Points
Yesterday saw 1052 stocks rise and 1942 fall on the NYSE. NASDAQ saw 779 rise and 1650 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 as -200 has yet to be breached. We moved to cash on the Madison Market Timing Indicator which can be found on www.superstockinvestor.com.
Economics
Dead day for economic reports.
Politico
Cyrpus Government continues discussions to shore up its finances and the ECB has given a deadline of Monday to reach agreement or the ECB will step away.
Conference & Analyst Meetings
Analyst meetings HW TRI ECYT. Credit Suisse Asian Investor Conference and Nomura Global Chemical Industry Leaders Conference.
Conference of Note
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Cowen | ||
| Jefferies | ||
| KeyBanc Capital | ||
| Sun Trust Robinson Humphrey | USG | |
| Raymond James | R | |
| Credit Agricole | LULU |
