January 9, 2013
In After Hours Trading
AA ( in line), APOL (+.32), GPN (+.06), WDFC (+.13).
What’s Happening This Morning
US futures: (S&P +2.35, DJI +23, NDX +2.80 with fair value a bit lower) Asia and Europe higher. Copper higher and gold lower with WTI Crude & Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US ten-year Treasury Yield -.0008. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings due after the close TXI RT RELL VOXX DRWI. Due out tomorrow morning MSM SVU.
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
AZZ (+.05), GBX (+.04).
Data Points
Yesterday saw 1372 stocks rise and 1635 fall on the NYSE. NASDAQ saw 1066 rise and 1436 fall. The S&P 500 now back above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is positive. We are back to invested on the Madison Market Timing Indicator.
Economics
Weekly Crude Inventories due out at 10:30 a.m. EST. Treasury holds a 10 year auction today.
Politico
Secretary of State Hillary Clinton will now testify on January 22. CT Senator Richard Blumenthal introduced a bill in the Senate to toughen purchasing requirements for ammunition.
Conference & Analyst Meetings
JP Morgan Healthcare Conference, Goldman Sachs Global Energy Conference, Merrill Lynch Defense Outlook and Dahlman Rose Precious Metals Conference.
Conference of Note
Consumer Electronics Show (CES) continues today in Las Vegas.
M & A News
DISH to buy CLWR for $3.30 a share. Watch to see if S counters as they have a bid for CLWR already and hold a minoroty position in the stock that includes certain rights DISH is asking them to waive.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | SON | |
| Goldman Sachs | MA | ONE WU |
| Morgan Stanley | SYY | |
| Deutsche Bank | ||
| Citigroup | ESI | |
| Barclays | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | APU | |
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Merrill Lynch | ||
| Jefferies | CTXS PCG | |
| Cantor Fitzgerlad | ||
| Dahlman Rose | ||
| Sterne Agee | ||
| Stifel Nicolaus | ||
| Societe Generale | ABB |
FWIW, your daily playbook is very helpful. Beaucoup thanks.
No problem just trying to help out my fellow mankind. Thanks.