In After Hours Trading
IPOs on deck this week Aramark Holdings, CatchMark Timber Trust, Hilton and Kindred Biosciences. Secondaries of note up ADMP AMID AWAY CSTM MDXG PE SALE SALT SEAS TAM. Courtesy of IPO Financial.
ASYS (+.21) CWTR (+.13) MW (+.03) NDSN (-.01) OXM (-.01) SIGM (-.01) VRA (+.04). Weak guidance from VRA.
What’s Happening This Morning
US futures: S&P -1, Dow Jones -15 NDX -1.5 with fair value a bit hgher hurting the open. Asia and Europe lower. Copper higher with silver and gold lower. WTI Crude higher and Brent Oil Futures lower. Natural Gas higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury -1. Prices as of 7:55 a.m. EST.
Due after the close ADBE RH ZQK. Due tomorrow morning none of note.
Rags & Mags: Inside Wall Street
USA Today: Facebook (FB) added to S&P 500. General Motors (GM) will stop making cars in Australia.
NY Times: J.P. Morgan (JPM) will settle criminal charges over Madoff.
WSJ: Budget deal on track in House. Federal Reserve to use reverse repos to set short term rates.
Reported Earnings This Morning
CIEN (-.08) LULU (+.04). Weak guidance from LULU.
Yesterday saw 592 stocks rise and 2475 fall on the NYSE. NASDAQ saw 605 rise and 1971 fall.
The S&P 500 is above its 50 day exponential moving average and above the 200 day exponential moving average. The Russell 2000 is now above its 50 day moving exponential average and above its 200 day exponential moving average.
The 10 day spread moving average of breadth has turned lower but not given a sell signal yet. The Madison Market Timing Indicator moved back to buy which can be found on the home page.
November Retail Sales is due out at 8:30 a.m. EST and is expected to rise to 0.6% from 0.4%. Weekly Jobless Claims due as well.
Night Shift and we are not talking the movie as the Senate never closed last night as Republicans stall on nominations over Senate Majority Leader “Dirty Harry” Reid’s filibuster move. House is expected to vote on the Budget Deal today.
Conference & Analyst Meetings
Analyst meetings of note KIM ABC UTX MYGN NLSN DHR MTDR AET STM IGT IRWD ATHN DTV. Capital One Southcoast Energy Conference and Morgan Stanley REIT Summit.
Conference of Note
Bank of America Merrill Lynch 2013 Denver Health Care One on One Conference.
M & A News
Key Upgrades and Downgrades
|Banc of America|
|Robert W. Baird|
|Sun Trust RH|
|Jesup & Lamont|