In After Hours TradingAEM (-.04) AMKR (+.012) AMAT(+.03) PRSS (+.03) CSCO (+.03) EOG (+.24) EQIX (+.25) MET (+.06) MDLZ (-.01) TRIP (+.02) WTW (+.09) WFM (+.01).
Lower guidance is hurting these names in after hours WTW WFM.
Strength was seen in energy, consumer non-durables and the electronic technology sectors.
Cancer Genetics (CGIX) comes public today. Possible secondary offerings today include BMR CLF EGAN ST WWWW. Secondary offerings filed after the close LMNR. (IPO/Secondary Information courtesy of www.iponfinancial.com)
What’s Happening This Morning
US futures: (S&P -5.00, Dow Jones -54, NDX -10.80 with fair value slighlty higher) Asia higher and Europe lower. Copper lower and gold higher with WTI Crude and Brent Oil Futures lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0279. Prices as of 7:45 a.m. EST.
Earnings Expected
Due after the close GG CBS A PCYC WRI HMA BRCD WOOF QLIK RP and ENB BAM AEP VTR VFC CPB SJM DLR TRW LECO tomorrow morning.
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
ABB(-.08) ALXN (+.08) LNT (+.07) ABX (+.04) DVA (+.09) HSC(-.01) JAH (+.021) PEP (+.03) SKYW (+.04) STRA (+.03).
Data Points
Yesterday saw 1776 stocks rise and 1231 fall on the NYSE. NASDAQ saw 1348 rise and 1091 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.
Markets are closed in China through Thursday.
Economics
Weekly Initial Jobless Claims due at 8:30 a.m. EST.
Politico
Rhetoric over the March Sequester will now pick up speed post the State Of The Union Address.
G-20 Finance Ministers meet in Moscow through Saturday. Bank of Japan left its interest rate policy unchanged.
Conference & Analyst Meetings
Analyst meetings JDSU OI GT RHP. Credit Suisse Financial Conference, Goldman Sachs Technology & Internet Conference, Leerink Swan Global Healthcare Conference, Bank of America Insurance Conference, Sterne Agee Financial Institutions Conference, BB&T Transportation Conference, Chicago Auto Show and the Molecular Medicine Tri-Conference 2013.
Conference of Note
Goldman Sachs Technology & Internet Conference
M & A News
LCC and American Airlines to merge bringing American out of bankruptcy.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ABGLY | |
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Barclays | ||
| Jefferies | VNDA | |
| Raymond James | ANGI | |
| KeyBanc | ||
| Cantor Fitzgerald | ||
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | IM | |
| Sun Trust RH | ||
| Credit Agricole | ||
| RBC | ||
| RBS | ||
| Cantor Fitzgerald | ||
| CIBC | ||
| Dresnder | ||
| Key Banc | ||
| HSBC Securities | ||
| Cowen | ||
| William Blair | ||
| BNP Paribas | ||
| Nomura | ||
| Kaufman | ||
| Brean Murray | ||
| JMP Securities | ||
| Wedbush | ||
| Argus | ||
| CLSA | ||
| BB&T | ||
| ING | ||
| Roth | ||
| Janney Montgomery | ||
| Susquehanna | ||
| Think Equity | ||
| Merriman | ||
| Cantor Fitzgerlad | ||
| BMO Capital | ||
| Benchmark | ||
| Jesup & Lamont | ||
| Macquarie | ||
| Canaccord Adams | ||
| Evercore | ||
| MKM | ||
| Bernstein | ||
| CLSN | ||
| Guggenheim | ||
| Auriga | ||
| Stephens | ||
| BTIG | ||
| Global Hunter | ||
| Longbow |
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