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Market Matters:

Earnings Season Now In Full Force
by by Staff Writers

April 20, 2010

In After Hours Trading

ATHR CCK CHP CR DEL IBM LNCR PKG PNFP STLD beat estimates and FALC ICUI WERN ZION missed estimates. GILD terminates a Pase II Clinical Trial for Chronic Hepatitis.

What's Happening This Morning

Asia and Europe higher. S&P 500 and NASDAQ 100 futures are higher by 4.00 and 6.50. Brent Crude is at $85.19 with gold at $1142.10 and natural gas at $3.96. The Up Dollar ETF (UUP) closed at $23.69 higher by 0.17%. Currencies see the Yen at 92.87 with the Pound at .65 and Euro at .74. The 20 Year Treasury ETF (TLT) closed at $89.64 lower by -0.24%. High yield bonds and corporate investment grade bonds lower.

Earnings Expected

Earnings of note expected after the close AAPL GILD YHOO SYK JNPR STX CREE ALTR VMW EW NBR TSS TUP WCN TPX FULT.

Rags & Mags: Inside Wall Street

NYT reports Banking Bill is struggling to get Republican support. Lehman Examiner reports SEC "sat on its hands". GM to pay off government loans. WSJ reports former Lehman CEO Dick Fuld to testify today. European officials to allow airlines to begin flying again today.

Reported Earnings This Morning

AMTD AOS ASTE BK COH ETN GS KO OMC PH SNA UNH WWW beat estimates and BIIB EAT HOG NTRS RF missed estimates.

Data Points

Yesterday saw 1343 stocks rise and 1735 fall on the NYSE. NASDAQ saw 1026 rise and 1676 fall. The S&P 500 is now above its 50 and 200 day moving average. The 10 day spread moving average of breadth has been poaitive but fading a bit here in the past ten days. We moved back to cash last week on the Madison Market Timing Indicator.

Economics

API Crude/Oil/Gasoline/Distillate Inventories due out at 4:30 p.m. EDT.

Politico

Conference & Analyst Meetings

Analyst Meetings with CIEN JCP LULU. Conferences include Oracle and Microsoft conferences.

Conference of Note

Watch how J.C. Penny (JCP) analyst meeting plays out and its impact on other retailers.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan    
Goldman Sachs MGM  
Morgan Stanley    
Deutsche Bank    
Citigroup TOT  
Barclays    
Wachovia/Wells Fargo    
Credit Suisse MWW  
Banc of America FPL PL WDR
UBS MCHP  
Lazard   GCA WXS
Merrill Lynch    
Jefferies   DLLR
Oppenheimer    
RBC    
Bernstein    
Stifel Nicolaus    
Morgan Keegan    
Keefe Bruyette ZION  
Friedman Billings CBEY  
Baird    
Needham    
Cowen   SAI
PiperJaffray    
Thomas Weisel   CSTR
American Technology    
Raymond James    
CIBC    
Dresnder    
Key Banc PNK  
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    
Benchmark    
Jesup & Lamont    
Macquarie APA  
Canaccord Adams    
RBS    
MKM    

 

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