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Market Matters:

Futures Flat This Morning & Advance/Decline 10 Day Average Remains Strong
by by Staff Writers

March 10, 2010

In After Hours Trading

ALOG PSS DXCM EXLS ICFI JCG SLXP VRSK beat estimates and AONE AVAV BIDZ SAM FLOW NAV ZIPR missed estimates.

What's Happening This Morning

Asia mostly higher and Europe lower. Brent Crude is at $79.79 from $78.95 with gold at $1122.40 from $1116.20 and natural gas at $4.46 from $4.53. The Up Dollar ETF (UUP) closed at $23.66 lower by 0.17%. Currencies see the Yen at 90.73 from 89.76 with the Pound at .67 and Euro at .74. The 20 Year Treasury ETF (TLT) closed at $89.62 lower by 0.02%. High yield bonds and corporate investment grade bonds rose.

Earnings Expected

Earnings of note expected after the close CIE CTAS GYMB MW CLNE SMTC JAS WES CLD.

Rags & Mags: Inside Wall Street

NYT reports New York state will get fiscally conservative. JNJ warns that hip replacement has early failure. Mattel (MAT) to releae four new Barbies on the Mad Men series. WSJ reports Bank of America (BAC) to eliminate overdraft fees.

Reported Earnings This Morning

BFB CRZO FSIN HRBN QLTI SOL beat estimates and CAS BONT ESLT HWK TRK RMIX MTN missed estimates.

Data Points

Yesterday saw 1786 stocks rise and 1253 fall on the NYSE. NASDAQ saw 1443 rise and 1246 fall. The S&P 500 is now above its 50 and 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

Releases of note this week other than the weekly oil/gas numbers and jobless claims include retail sales and University of Michigan Sentiment Survey both of which are due out on Friday.

Politico

Posturing on the Health Care Bill continues.

Conference & Analyst Meetings

Analyst Meetings with JAH PL with updates from NVLS RMTI. Conferences this week include the Bank of America Merrill Lynch Consumer Conference, Citi Financial Services Conference, Cowen & Company Healthcare Conference, Credit Suisse Communication Equipment and Networking Conference, Credit Suisse Group Global Media and Communication Conference, Jefferies Global Technology Conference, J.P. Morgan Aviation Transportation and Defense Conference as well as the Raymond James Institutional Conference among those being held.

Conference of Note

Watch for news on tech stocks out of Jefferies Technology Conference.

M & A News

Key Upgrades and Downgrades

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

 

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