In After Hours Trading
Earnings reported after the close MND (-.13).
Secondaries announced after the close LSE. Nothing on deck so far. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +6, Dow Jones +52, NDX +10.50 with fair value lower, which will improve the opening a bit) Asia lower ex Japan and Europe higher ex the FTSE. Copper and gold lower with WTI Crude and Brent Oil Futures higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield +0.0052. Prices as of 7:45 a.m. EST.
Earnings Expected
Reports due after the close WDFX XRTX. Due tomorrow morning none of note.
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
GBX (+.12) ISCA (-.03) RPM (+.01) (-.07).
Data Points
Yesterday saw 648 stocks rise and 2365 fall on the NYSE. NASDAQ saw 582 rise and 1796 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 broke its 50 day moving average yesterday. The 10 day spread moving average of breadth is positive. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
Challenger, Gray & Christmas released its latest job cuts data and there were 49,255 cuts. Weekly Jobless Claims take on added significance with Friday’s Jobs Data. The Bank of England (BOE) left rates unchanged. European Central Bank (ECB) keeps rates on hold as well. ECB President Mario Draghi will hold a press conference at 8:30 a.m. EDT.
Politico
The House and Senate are on break this week.
Federal Reserve Chairman Bernanke speaks Thursday as does Federal Reserve Vice Chairman Janet Yellen who speaks at the Sabew Spring Conference in Washington, D.C.
Conference & Analyst Meetings
Analyst meetings EPIQ FB PRIM WPC PDCE. New York International Auto Shows runs through Sunday. Geosynthetics Conference is held in Long Beach, California and concludes today. Cloud Connect.
Conference of Note
New York International Auto Shows runs through Sunday.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | EAT | |
| Morgan Stanley | ||
| Deutsche Bank | ALU | |
| Citigroup | ||
| Merrill Lynch | ||
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | TAHO | |
| Lazard | FNSR AAPL | |
| Jefferies | ULTA | |
| KeyBanc Capital | ||
| Sun Trust Robinson Humphrey | ||
| Oppenheimer | ||
| Credit Agricole | ||
| Dahlman Rose | ||
| Keefe Bruyette | ||
| Friedman Billings | ||
| Robert W. Baird | ||
| Needham | PANL |
