In After Hours Trading
ADTN (+.06) HCSG (+.02) PSMT (+.82) SEAC (+.09).
Several IPOs KNOT Offshore Partners LP and Taylor Morrison Home Corp are due today and RSO will price a secondary offering.Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P +4.25, Dow Jones +41, NDX +9.50 with fair value a bit lower, which will help the opening slightly) Asia higher ex Shanghai and Europe higher. Copper and gold lower with WTI Crude and Brent Oil Futures lower. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield +0.0102. Prices as of 7:55 a.m. EST.
Earnings Expected
Reports due after the close BBBY VECO RH APOG RT AVID RELL DRWI. Due tomorrow morning CBSH PIR RAD IGTE SMRT LEDS.
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
FDO (-.01) TITN (-.19).
Data Points
Yesterday saw 1735 stocks rise and 1248 fall on the NYSE. NASDAQ saw 1192 rise and 1174 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
Dallas Federal Reserve President Richard Fisher speak on economic and monetary policy and Federal Reserve Atlanta President Lockhart as well as Federal Reserve Minneapolis President Kocherlakota.
FOMC Minutes released at 2:00 p.m. EDT.
Politico
G-8 Ministers begin a two day meeting in London. President Obama sends his delayed budget plan to Congress for fiscal year 2014.
Conference & Analyst Meetings
Analyst meetings IHS CVX. Bank of America Online Gaming Symposium, Jefferies Steel & Metals Summit and World Copper Conference.
Conference of Note
National Space Symposium.
M & A News
TMO to make a bid for LIFE at $65 a share.
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ABC | ARO OKS |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | ESYJY | |
| Merrill Lynch | STWD | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Raymond James | PCCC |
