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Market Matters:

Mixed Start To Thursday Trading
by by Staff Writers

March 11, 2010

In After Hours Trading

AFCE JAS MW MBLX NABI PRSC SMTC STAN beat estimates and AACC IDSY IPAR TTGT missed estimates.

What's Happening This Morning

Asia mostly higher and Europe lower. S&P 500 and NASDAQ 100 futures are lower by -2.40 and -3.25. Brent Crude is at $80.50 from $79.79 with gold at $1106.10 from $1122.40 and natural gas at $4.54 from $4.46. The Up Dollar ETF (UUP) closed at $23.62 lower by -0.17%. Currencies see the Yen at 90.65 from 90.73 with the Pound at .66 from .67 and Euro at .73 from .74. The 20 Year Treasury ETF (TLT) closed at $89.59 lower by -0.26%. High yield bonds rose and corporate investment grade bonds fell.

Earnings Expected

Earnings of note expected after the close ARO CCO NSM PSUN PLL POWR ZQK SEAC SHFL SWHC SPWRA ZUMZ.

Rags & Mags: Inside Wall Street

NYT reports BP paying Devon Energy (DVN) $7 billion for oil and gas reserves in several countires including Brazil. Inflation begins to pick up in China. WSJ reports credit markets are back to normal and lending is strong.

Reported Earnings This Morning

SFD STEI BKE beat estimates and CSUN DK GEOI missed estimates.

Data Points

Yesterday saw 2040 stocks rise and 985 fall on the NYSE. NASDAQ saw 1724 rise and 957 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

Federal Reserve New York President Dudley speaks in London.

Conference & Analyst Meetings

Analyst Meetings with ADI BKE CA BMTI CERN IT V VIA XOM with updates from MHJ. 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

M & A News

Key Upgrades and Downgrades

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

 

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