Futures & Merger Monday

In After Hours Trading

We expect filings and pricings during the week for secondaries but right now nothing on tap.

 

What’s Happening This Morning

US futures: (S&P -2, Dow Jones -18, NDX no change with fair value slightly higher hurting the open. Asia and Europe mixed. Copper higher and gold lower with WTI Crude higher and Brent Oil Futures lower. $ is higher vs Euro, higher vs. Pound and lower vs. Yen. US 10 year Treasury Yield no change. Prices as of 7:55 a.m. EST.

Earnings Expected

Of note this week QIHU BNS BMO WDAY WSM JOY RY TD YGE SOL. Due tomorrow morning BNS BMO TIF DCI DSW SAFM BWS MOV RGS LDK.

Rags & Mags: Inside Wall Street

We are back to our own coverage of the major papers:

 

NY Times: AMZN expands presence in downtown Seattle. Mobile and cloud computing could face same future as MSFT one day.

Wall Street Journal: Saudi Prince Bandar seeks to topple Syrian President Assad. Crude oil being moved by trucks, barges and trains due to pipeline capacity shortage. 200 colleges to take post college SAT.

USA Today: Natural gas moves from boom overkill.

Reported Earnings This Morning

QIHU (+.14)

Data Points

Thursday saw 2039 stocks rise and 988 fall on the NYSE. NASDAQ saw 1344 rise and 1155 fall.

 

The S&P 500 is now back above its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and above its 200 day exponential moving average.

The 10 day spread moving average of breadth is now negative and we are in cash mode. The Madison Market Timing Indicator moved to buy on July 8th which can be found on www.superstockinvestor.com.

Economics

Releases of note this week include weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims with durable goods, consumer confidence, Q2 GDP, personal income, Chicago PMI and Michigan Sentiment.

 

July Durable Goods are due out at 8:30 a.m. EDT and are expected to drop to -3.7% from 3.9%.

Politico

Congress is on vacation until after Labor Day thankfully.

 

Thursday sees St. Louis Federal Reserve President Bullard and Richmond Federal Reserve President Lacker speak at separate venues.

Conference & Analyst Meetings

Analyst Meetings of note VMW.

Conference of Note

M2M Evolution Conference & Expo.

M & A News

AMGN to buy ONXX for $125 a share in cash. Pritzker family to buy TMS for $17.50 a share.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley STNG
Deutsche Bank
Citigroup HAS ALTR
Merrill Lynch RMD TSN
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Miller Tabek
Needham
Jefferies
Nomura
Societe Generale
Raymond James
Societe Generale
Keefe Bruyette
Oppenheimer
Friedman Billings
Robert W. Baird
Evercore
Sun Trust RH
Credit Agricole
RBC
RBS
Cantor Fitzgerald
CIBC
Dresnder
Key Banc
HSBC Securities
Cowen
William Blair
BNP Paribas
Nomura
Kaufman
Brean Murray
JMP Securities
Wedbush
Argus
CLSA
BB&T
ING
Roth
Janney Montgomery
Susquehanna
Think Equity
Merriman
Cantor Fitzgerlad
BMO Capital
Benchmark
Jesup & Lamont
Macquarie
Canaccord Adams
Evercore
MKM
Bernstein
CLSN
Guggenheim
Auriga
Stephens
BTIG
Global Hunter
Longbow

 

 

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