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Market Matters:

Jobs Data Due Out Today And Friday Buckle Your Seat Belt
by Staff Writers

March 4, 2010

In After Hours Trading

AIMC CBEY CRA CCIX CMTL DPM DIVX FTEK HMIN JAZZ LHCG MIDD MRT PETM SIGM SINA SUNH TTWO beat estimates and AIQ CWTR DAR DDMX FL NGS SINA VOLC WCAA missed estimates.

What's Happening This Morning

Asia and Europe mixed. S&P 500 and NASDAQ futures lower by -0.30 and -1.50 at 7:45 EST. Brent Crude is at $79.14 from $78.52 with gold at $1139 and natural gas at $4.74 from $4.70. The Up Dollar ETF (UUP) closed at $23.51 lower by -0.59%. Currencies see the Yen at 88.36 from 88.75 with the Pound at .66 and Euro at .73. The 20 Year Treasury ETF (TLT) closed at $90.99 lower by -0.25%. High yield bonds and corporate investment grade bonds rose.

Earnings Expected

Earnings of note expected after the close MRVL COO DDS ATHN SPWRA ARST UDRL IDSY WEN RBA TK CIEN NAFC.

Rags & Mags: Inside Wall Street

NYT reports European Central Bank (ECB) leaves rates unchanged. Ads on Facebbook are off the beaten path and quirky. White House proposes the Volcker Bill to limit bank actions.

Reported Earnings This Morning

TYPE CNSL CRTX FSYS GCO ISPH STP SXCI URBN WNR beat estimates and ECOL CNQ CIEN ENG HEES MEI MITI NAFC missed estimates. Lower guidance from ECOL.

Data Points

Yesterday saw 2418 stocks rise and 663 fall on the NYSE. NASDAQ saw 2022 rise and 684 fall. The S&P 500 is now below its 50 but above its 200 day moving average. The 10 day spread moving average of breadth begun to improve in the past ten days and we moved back to a buy on Thursday 2/18 on the Madison Market Timing Indicator.

Economics

Jobless claims are released this morning. Q4 Productivity (final) is due out at 8:30 a.m. EST and is expected to improve to 6.3% from 6.2%. At 10:00 a.m. EST, January Factory Orders is due out and are expected to come in at 1.8% from 1.0%.

Politico

The Healthcare Bill appears headed to reconciliation which will further divide Republicans from Democrats.

Conference & Analyst Meetings

Analyst Meetings with . Updates from . Conferences this week include the BMO Capital Markets Global Metals and Mining Conference, Citi Global Property CEO Conference, JP Morgan High Yield and Leveraged Finance Conference, Morgan Stanley Technology Media and Telecom Conference, RBC Capital Markets Healthcare Conference and the Sandler O’Neil West Coast Financial Services Conference.

Conference of Note

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs RCL GAMING STOCKS
Morgan Stanley    
Deutsche Bank    
Citigroup FMS  
Barclays    
Wachovia/Wells Fargo    
Credit Suisse    
Banc of America DIS AVY
UBS KO BA SPR  
Lazard    
Merrill Lynch    
Jefferies    
Oppenheimer    
RBC    
Bernstein BBT FITB MTB
Stifel Nicolaus    
Morgan Keegan FDX  
Keefe Bruyette TRH SBX
Friedman Billings    
Baird OVTI  
Needham    
Cowen    
PiperJaffray DL ZUMZ  
Thomas Weisel    
American Technology    
Raymond James    
CIBC    
Dresnder    
Key Banc    
HSBC Securities    
Ladenburg Thalmann  
William Blair    
Collins Stewart    
Sun Trust RH    
Kaufman   CVG
Brean Murray    
JMP Securities   MDVN
Wedbush    
Argus    
Morgan Joseph    
BB&T    
ING    
Roth    
Janney Montgomery    
Susquehanna    
Think Equity    
Merriman    
Pali    
BMO Capital    

 

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