In After Hours Trading
IPOS to be priced this week include Garrison Capital, NVS Holdings and Pinnacle Foods. No secondaries on deck yet. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +6.75, Dow Jones +43, NDX +15.50 with fair value a bit lower adding to the positive open) Asia higher ex Shanghai and Europe higher. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield +0.026. Prices as of 7:45 a.m. EST.
Earnings Expected
Reports due after the close FMCN AUQ VECO SONC GMAN PRTS. Due tomorrow morning NEOG PLCE OXF.
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
APOL (+.16) DG (+.05) JASO (-1.09).
Data Points
Yesterday saw 1861 stocks rise and 1092 fall on the NYSE. NASDAQ saw 1446 rise and 951 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 back to positive. We moved to cash on the Madison Market Timing Indicator which can be found on www.superstockinvestor.com.
Economics
Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims along with durable goods, consumer confidence, new home sales, Q4 GDP, Chicago PMI, personal income and Michigan Sentiment. None due today.
Politico
Cyrpus Government reaches a deal with the ECB.
Conference & Analyst Meetings
Analyst meetings none of note. Morgan Stanley Technology, Media and Telecom Conference, BNP Paribas Healthcare Conference and Game Developers Conference.
Conference of Note
EclipseCon Boston 2013 which features many tech companies.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ALL | RNR PRE |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | CEO | ARG |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Nomura | REMYF | |
| Jefferies | ||
| KeyBanc Capital | ||
| Sun Trust Robinson Humphrey | ||
| Raymond James | ||
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | GALE SFLY | |
| Sun Trust RH | CEB |
