In After Hours TradingAWK (-.01) AVGO (+.05) FSLR (+.30) PZZA (-.02) PCLN (+.27) RRC(+.18)
What’s Happening This Morning
US futures: (S&P +3.75, Dow Jones +34, NDX +6.80 with fair value higher) Asia MIXED and Europe HIGHERer. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0206. Prices as of 7:55 a.m. EST.
Earnings Expected
Due after the close and CLR LTD NYL MNST PLL MWE WES CBI JCP tomorrow before the open TD VRX SDRL KSS BBY SHLD RDC CVC CHS DPZ 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
AES (+.01) CRI (+.04) DLTR (+.02) JOY (+.17) STWD (+.06) TGT (IN LINE).
Data Points
Yesterday saw 1981 stocks rise and 997 fall on the NYSE. NASDAQ saw 1487 rise and 968 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 now negative but our buy has not been concluded yet. We just moved to cash on the Madison Market Timing Indicator last week which can be found on www.superstockinvestor.com.
Economics
January Durable Goods is due out at 8:30 a.m. EST and is expected to come in at-4.0% against 4.3%. Weekly Mortgage Applications and Crude Inventories are due out at 7:00 a.m. and 10:30 a.m.
Politico
Federal Reserve Dallas President Fisher will speak in New York on Wednesday. Federal Reserve Chairman Bernanke testifies before Congress at 10:00 a.m. EDT.
Conference & Analyst Meetings
Analyst meetings ECL CR CSTR AAPL. Morgan Stanley Tech, Media & Telecom Conference, JP Morgan Global High Yield & Leverage Finance Conference, RBC Global Healthcare Conference and Citi Global Healthcare Conference.
Conference of Note
The Mobile World Congress runs through Thursday in Barcelona.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | GTI | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | BMO | |
| Merrill Lynch | LNC GOOG | HXM FSLR |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Credit Agricole | ||
| Jefferies | ||
| Raymond James | ||
| Sun Trust Robinson Humphrey | EIX |
