In After Hours Trading
BMI (-.30) CSX (+.05) INTC (IN LINE) IBKR (-.09) LLTC (+.02) MRTN (+.05) URI (-.30) YHOO (+.13).
Several IPOs are due Blackhawk Network, Fairway Group, Hannon Armstrong Sustainable, Intelsat Global Holdings, SeaWorld Entertainment and Taminco Chemical.Secondary offerings none of note. Courtesy of www.ipofinancialreport.com.
What’s Happening This Morning
US futures: (S&P -12, Dow Jones -100, NDX -23.00 with fair value higher, which will hurt the opening even more) Asia lower ex Japan and Europe lower. Copper and gold lower with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury Yield -0.0172. Prices as of 7:55 a.m. EST.
Earnings Expected
Earnings due after the close EBAY AXP KMP SNDK SLM EPB NE CCK ALB EWBC STLD CVA LHO CYS CNS SCSS AF. Earnings due tomorrow morning among others PM VZ PEP TSM UNP UNH MS DHR BAX FCX BBT PG SHW OMC FITB NUE NOK APH BX KEY.
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
ASML (+.03) BAC (-.02) BK (-.02) DOV (+.01) HBAN (+.01) MAT (+.03) PNC (+.21) DGX (-.15) TXT (-.05) WNS (+.01).
Data Points
Yesterday saw 2494 stocks rise and 542 fall on the NYSE. NASDAQ saw 1923 risee and 555 fall. The S&P 500 is above its 50 day moving average and above the 200 day moving average. The Russell 2000 broke back below its 50 day moving average on Monday. The 10 day spread moving average of breadth is now negative but above -200. We moved to cash on the Madison Market Timing Indicator on February 22nd which can be found on www.superstockinvestor.com.
Economics
The Federal Reserve Open Market Committee releases its latest Beige Book survey. The International Monetary Fund (IMF) releases its Global Financial Stability Report.
Weekly Crude Inventories are due out at 10:30 a.m. EDT.
Politico
Federal Reserve St. Louis President Bullard speak about unemployment in New York City. Also Federal Reserve Governor Stein and Federal Reserve Boston President Rosengren speak today.
Conference & Analyst Meetings
Analyst meetings none of note. CIBC Energy Conference.
Conference of Note
World Vaccine Congress & Expo.
M & A News
Key Upgrades and Downgrades
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ||
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup | OC | |
| Merrill Lynch | YHOO | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | POM |
