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Market Matters:

Sirius Adds Subscribers Year Over Year
by by Staff Writers

July 7, 2010

In After Hours Trading

FDO beat estimates. Sirius (SIRI) subscribers up year over year by 1.1 million.

What's Happening This Morning

Asia and Europe mostly lower. S&P 500 and NASDAQ 100 futures are lower by -1.50 and -1.75. Brent Crude is at $72.12 from $72.52 with gold at $1190 from $1206 and natural gas at $4.70 from $4.79. The Up Dollar ETF (UUP) closed at $24.49 lower by -0.33%. Currencies see the Yen at 87.25 from 87.94 with the Pound at .66 and Euro at .80 from .81. The 20 Year Treasury ETF (TLT) closed at $101.62 up by 0.82%. High yield bonds and corporate investment grade bonds rose on Tuesday.

Earnings Expected

Earnings due after the close include INXI LWSN NUHC.

Rags & Mags: Inside Wall Street

NY Times reports

Reported Earnings This Morning

Earnings of note this morning - none to report yet. Due GBX HELE ISCA.

Data Points

Yesterday saw 1516 stocks rise and 1567 fall on the NYSE. NASDAQ saw 906 rise and 1789 fall. The S&P 500 remains below its 50 day moving average and its 200 day moving average. The 10 day spread moving average of breadth has been weak in the past ten days and we moved back to invested on the Madison Market Timing Indicator on 5/10/10.

Economics

Releases of note this week other than the weekly oil/gas numbers and jobless claims include a slew of retailers reporting same store sales for June on Thursday.

Politico

President Obama met with Israeli Prime Minister Netanyahu and discussion on the Palestinian homeland to heat up.

Conference & Analyst Meetings

Conferences that get underway today include Allen & Co Media Conference.

Conference of Note

Watch how media stocks fair from Sun Valley, Idaho at the Allen & Co annual summerfest media conference.

M & A News

Total (TOT) to buy UTS Corp of Canada for 10% premium.

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 KRC NRGP TCLP
UBS    
Lazard    
Merrill Lynch    
Jefferies    
Oppenheimer EMC VRSN FCN
RBC    
Bernstein    
Stifel Nicolaus    
Morgan Keegan    
Keefe Bruyette    
Friedman Billings    
Baird    
Needham    
Cowen    
PiperJaffray JNPR  
Thomas Weisel    
American Technology    
Raymond James    
CIBC    
Dresnder    
Key Banc   TEX
HSBC Securities    
Ladenburg Thalmann  
William Blair   FCN
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    
Benchmark    
Jesup & Lamont    
Macquarie    
Canaccord Adams    
RBS    
MKM    

 

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