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In After Hours Trading
HPQ(+.06) LTD (+.02) ORIG (+.23) PSUN (+.16) PETM (+.02) SPTN (+.11) WDAY (+.03) among others.
IPOs today of note Constellium Holdings, Global Brass & Copper Holdings, Ply Gem Holdings and Channel Advisor. Secondaries of note BXMT BLMN LG OAK RDMP WAIR. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P -15.25, Dow Jones -118, NDX -28 with fair value lower lessening the ugliness) Asia and Europe lower. Copper and gold higher with WTI Crude and Brent Oil Futures lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury Yield -5. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings due after the close CRM GPS ROST MRVL WSM NDSN P MENT ARO BLOX ZUMZ SCVL CRMT. Due tomorrow morning before the open FL ANF HIBB DXLG TNP.
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
ALKS (+.24) BONT (+.32) CATO (+.02) PLCE (+.22) DLTR (+.02) HRL (-.03) PERY (+.03) QSII (-.07) SIG (+.02) among others.
Data Points
Yesterday saw 656 stocks rise and 2374 fall on the NYSE. NASDAQ saw 623 risee and 1811 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 is above its 50 day moving average. The 10 day spread moving average of breadth is still positive. The Madison Market Timing Indicator moved to cash on February 22nd which can be found on www.superstockinvestor.com.
Economics
April New Home Sales are released at 10:00 a.m. EDT and is expected to rise to 426,000 from 417,000. Weekly Jobless Claims due out at 8:30 a.m. EDT.
Politico
President Obama to give a speech on the use of drones today.
Conference & Analyst Meetings
Analyst meetings HUM LOGI KKR RGA SSYS. Barclays Technology, Telecom and Media Conference and the Bank of America Merrill Lynch Retail Transport and Leisure Conference.
Conference of Note
CTIA Wireless 2013.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ATW | PTEN O |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | HOT | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Oppenheimer | ||
| Jefferies | ||
| HSBC | ||
| Sun Trust Robinson Humphrey | PAY | |
| Raymond James | ||
| Credit Agricole | ||
| Cowen | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | LCI |
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What makes the IPOs “of note” compared to “not of note”?