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Market Matters:

Futures El Fuego
by Geoff Garbacz & Staff Writers

October 31, 2014

In After Hours Trading

IPOs on deck this week include . Secondaries on deck of note .

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]):TSO+.91, SAM+.47, NEM+.34, EXPE+.19, EGN+.18, LYV+.16, SGEN+.11, MELI+.10, OIS+.09, EMN+.09, ESS+.06, WU+.06, LNKD+.05, PSA+.05, FLR+.05, GPRO+.04, SBUX+.03, CCI+.03, MYL+.03, FLT+.03, CXP+.03, MHK+.02, CPT+.02, HME+.02, GRPN+.02, EGO-.03, TRMB-.05.

IPO Financial provides our capital raise data.

What's Happening This Morning

US futures: S&P +22, Dow Jones +187 and NDX +59 with fair values lower adding to the open. Asia and Europe higher. Copper higher with silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, flat vs. Pound and higher vs. Yen. US 10 year Treasury yield +3. Prices as of 7:55 a.m.

Earnings Expected

Earnings due after the close (by market cap descending): none of note.

Due Monday morning (by market cap descending): S, SYY, L, EEP, AMG, CNA, CHD, ARE, SNH, BWP, HNT, AMH, SHO.

Rags & Mags: Inside Wall Street

USA Today: Japan ease stocks global stocks. Subway new deal for $6 includes drink and chips which will pressure fast foods concepts like Panera (PNRA).

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): SNE+31.82, AON+.17, OSK+.14, DRQ+.10, ITT+.06, COMM+.05, GWR+.04, WY+.03, COL+.03, CBOE+.03, NWL+.03, LM+.02, HLT+.01, POM+.00, D-.02, XLS-.02, BUD-.09.

not reported yet: CVX, CLX, XOM, MSG, MMP, MOG.A, NS, PNW, SPR, TE, USM.

Data Points

Yesterday saw 2205 stocks rise and 1161 fall on the NYSE. NASDAQ saw 1702 rise and 991 fall.

The SP 500 back above its 50 day exponential moving average and is now above the 200 day exponential moving average. The Russell 2000 is back above its 50 day moving exponential average and its 200 day exponential moving average as well.

The 10 day spread moving average of breadth is now back to invested. The Madison Market Timing Indicator is now invested.

YTD 3446 (-171) stocks are higher for the year and 3435 (+167) are lower. Updated 10/13/14 Close. Prior Update 10/1/14 close.

Economics

September Personal Income is due out at 8:30 a.m. EDT and are expected to remain at 0.3%. Then at 9:45 a.m. EDT, October Chicago PMI is due out and expected to remain at 60.5. Last, at 9:55 a.m. EDT Michigan Sentiment is expected to come out at 86.4%.

Politico

Federal Reserve San Francisco President Williams speaks before the open.

Conference & Analyst Meetings

Analyst and investor meetings RPRX BMY.

Conference of Note

Fort Lauderdale Boat Show.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan   CACI
Goldman Sachs    
Morgan Stanley    
Deutsche Bank    
Citigroup    
Merrill Lynch    
Wachovia/Wells Fargo    
Credit Suisse   MEP
Banc of America    
UBS    
Key Banc    
Needham    
Jefferies    
Stifel COTY NKA
Nomura    
Raymond James MHK  
Piper Jaffray    
Societe General ALU  
Keefe Bruyette    
Friedman Billings    
Robert W. Baird    
Brean Capital    
Sun Trust RH    
Topeka Capital Markets    
RBC    
Longbow    
Cantor Fitzgerald    
CIBC    
Dresnder    
Key Banc    
HSBC Securities    
Cowen  
William Blair    
BNP Paribas    
Nomura    
Kaufman  
Brean Murray    
JMP Securities    
Wedbush    
Argus    
CLSA    
BB&T    
ING    
Roth    
Janney Montgomery  
Susquehanna    
Think Equity    
Merriman    
Cantor Fitzgerlad    
BMO Capital  
Benchmark    
Jesup & Lamont    
Macquarie    
Canaccord Adams    
Evercore    
MKM    
Bernstein    
CLSN    
Guggenheim    
Auriga    
Stephens    
BTIG    
Global Hunter    

 

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