In After Hours Trading
DRYS (-.02) KFY (+.02) ORIG (+.19) PETM (+.03) MTN (-.05)against estimates.
Secondaries announced CUI BKU FLT HTZ OCLS MRC VIPS KAR DISCK FIS KYN TUMI (just filed this morning). Pricings for today DISCK VIPS KAR MRC. No IPOs on deck for today.
Listings courtesy of IPO Financial Network (www.ipofinancial.com)
What’s Happening This Morning
US futures: (S&P +0.25, Dow Jones +10, NDX +2.80 with fair value higher so a negative open on track) Asia lower ex Japan and Europe higher. Copper and gold higher with WTI Crude higher and Brent Oil Futures lower. $ is lower vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury Yield -.0087. Prices as of 7:45 a.m. EST.
Earnings Expected
Earnings due after the close PETM PNY DK MTN SMTC OILT WPRT VECO ALJ. Due tomorrow morning CNQ KR WSM SFD NAV FGP CIEN PRIM CMN SRPT BLT BWS.
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
CNQ (-.06) CIEN (+.26) NAV (+.23) SFE (-.09) SFD (+.07).
Data Points
Yesterday saw 1658 stocks rise and 1321 fall on the NYSE. NASDAQ saw 1354 rise and 1097 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is now BACK TO POSITIVE so our buy has not been concluded yet. We moved to cash on the Madison Market Timing Indicator last week which can be found on www.superstockinvestor.com.
Economics
Q4 Productivity is released at 8:30 a.m. EST and is expected to improve to -1.6% from the first release of -1.60%.
Challenger, Gray & Christmas monthly jobs cuts are announced this morning.
Politico
European Central Bank & the Bank of Japan left rates unchanged. 8:30 a.m. EST. ECB Head Mario Draghi will hold a press conference.
Conference & Analyst Meetings
Analyst meetings TXN MTH A VRSK XYL VOLC. Wedbush Securities Technology, Media & Telecom Conference, Barclays Investment Grade Energy & Pipeline Conference.
Conference of Note
Bank of America Merrill Lynch 2013 Refining Conference.
M & A News
Fighting over bid for DELL heats up as investors demand higher price.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | WFR | |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ||
| Merrill Lynch | DRQ | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Lazard | ||
| Piper Jaffray | ICUI ANGI |
