In After Hours Trading
BRO (+.02) PBY (-.32) PNFP (+.06) STLY (-.04).
Several IPOs are due Blackhawk Network, Fairway Group, Hannon Armstrong Sustainable, Intelsat Global Holdings, SeaWorld Entertainment and Taminco Chemical.Secondary offerings none of note. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +12.25, Dow Jones +108, NDX +23.500 with fair value higher, which will hurt the opening but still a positive one) Asia lower ex Shanghai and Europe lower. Copper and gold higher with WTI Crude and Brent Oil Futures lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury Yield +0.0452. Prices as of 8:00 a.m. EST.
Earnings Expected
Earnings due after the close INTC YHOO CSX LLTC URI FULT CATY IBKR BMI MRTN. Earnings due tomorrow morning BAC ABT PNC ASML MAT DOV STJ DGX TXT HBAN among others.
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
BLK (+.05) KO (+.01) CMA (+.02) NTRS (-.01) WAFD (+.01) WWW (+.26).
Data Points
Yesterday saw 376 stocks rise and 2683 on the NYSE. NASDAQ saw 277 risee and 2245 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 broke back below its 50 day moving average on Monday. The 10 day spread moving average of breadth is now negative but above -200. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
March CPI is due out at 8:30 a.m. EDT and is expected to drop to 0.0% from 0.7%. March Housing Starts are due at 8:30 a.m. EDT and expected to rise to 930,000 from 917,000. Then at 9:15 a.m. EDT March Industrial Production is due out and is seen dropping to 0.2% from 0.8%.
Politico
Federal Reserve New York President Dudley will speak about the economy in New York City. Also on Tuesday Federal Reserve Vice Chairman Janet Yellen will speak on monetary policy before the IMF.
Conference & Analyst Meetings
Analyst meetings none of note. IPAA OGIS New York Conference. CIBC Energy Conference.
Conference of Note
World Vaccine Congress & Expo.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | CHRW | |
| Goldman Sachs | MRIN | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | OC | NKA |
| Merrill Lynch | DCT | TCP |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | ||
| ING Group | AKZOY | |
| Jefferies | SRCL | |
| KeyBanc Capital | ||
| Sun Trust Robinson Humphrey | HZO |
