In After Hours Trading
EXA (-.04) FIVE (+.01) PAYX (+.01) PVH (+.10) RHT (+ 0.06) TXI (+.19) VRNT (+.16)
IPOS to be priced this morning Cancer Genetics (CGIX). Secondaries announced after the close CEMI ARRY RAS FIG NGL SJW BMR. Secondaries to be priced TUMI RDA DG. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P 1.75, Dow Jones +29, NDX +7 with fair value a bit lower) Asia lower and Europe higher. 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 +0.0007. Prices as of 7:35 a.m. EST.
Earnings Expected
Reports due after the close TPH PCTI. Markets closed tomorrow. Enjoy the long weekend. It’s Miller Time.
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
BBRY (+.53) CMC (-.14) SIG (+.03) WGO (+.08).
Data Points
Yesterday saw 1590 stocks rise and 1393 fall on the NYSE. NASDAQ saw 1156 rise and 1259 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 on February 22nd which can be found on www.superstockinvestor.com.
Economics
Q4 GDP (final) is due out at 8:30 a.m. EDT and expected to rise 0.5% from the initial 0.1%. March Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 56.9 from 56.8. Weekly Jobless Claims due out at 8:30 a.m. EDT.
U.S. Bond Market closes early at 2:00 p.m. EDT.
Politico
The House and Senate are on break this week and next week.
Conference & Analyst Meetings
Analyst meetings EBAY. Announcement due from TSLA. CIBC World Markets Retail & Consumer Conference and Game Developers Conference.
Conference of Note
Craft Brewers Conference & BrewExpo America
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | VFC NKE | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | RYAAY | |
| Merrill Lynch | AEIS | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | ||
| Needham | ARUN |
