Market Wrap for Monday Feb 7, 2011

NYSE up 48.09 (+0.6%) to 8,336.59
DJIA up 69.25 (+0.6%) to 12,161
S&P 500 up 8.18 (+0.6%) to 1,319
Nasdaq up 14.69 (+0.5%) to 2,784

GLOBAL SENTIMENT
Hang Seng down 1.49%
Nikkei up 0.46%
FTSE up 0.89%

UPSIDE MOVERS
BMY upgraded.
K upgraded.
DEPO reports positive results in Parkinson's trial.
NOK reacting to weekend reports of board shake-up.
DD gets favorable Barron's coverage.
EPCT jumps on positive trial results.
CHK planning to sell gas assets.
BEC sold for $83.50 a share.
HAS says profit falls vs year-ago quarter.
AZN halts prostrate cancer drug trial.

DOWNSIDE MOVERS
AET upgraded.
AOL buying Huffington Post.
NVDA downgraded.
YONG downgraded.
SPLS removed from Goldman's Conviction Buy list.
SYY says earnings decline vs year-ago quarter.
MRK shifts between narrow gains and losses; downgraded.
SAFM downgraded.
QCOR is subject of critical Barron's article.
HUM reports decline in profit; raises FY EPS view though still below
Street.

MARKET

Crude closed down 1.7% at $87.48 a barrel. Copper slipped off its record
high, while gold declined Monday.

Stocks posted strongly weekly gains to close out Friday's session, with
the DJIA ending above 12,000 and the S&P 500 above 1,300, both considered
psychologically significant barriers for Wall Street.

UBS raised its 2011 target for the S&P 500 index by 7.5 percent to 1,425
from 1,325, citing an improving outlook for the economy and earnings.

Hasbro Inc. (HAS) reports Q4 EPS of $0.99 compared to $1.09 a year
earlier but topping the Thomson Reuters mean analyst estimate for $0.92.
Net revenues of $1.28 billion compare to $1.38 billion a year ago.

Loews (L) said net income for the fourth quarter of 2010 was $466
million, or $1.12 a share, compared to net income of $403 million, or 94
cents a share, in the 2009 fourth quarter.

Danaher Corp (DHR) agreed to buy medical diagnostics company Beckman
Coulter Inc (BEC) for about $6.8 billion. Oil driller EnsCo Plc (ESV)
said it would buy Pride International (PDE) for about $7.3 billion.

AOL (AOL) agreed to buy closely held The Huffington Post, a news,
analysis and lifestyle website, for $315 million.

BP Plc (BP) gained reportedly entered into talks with India's Reliance
Industries to buy a 30% to 45% stake in the D6 hydrocarbon block in a
basin off India's east coast, according to India-based The Mint
newspaper.

Chevron (CVX) plans to pay Atlas Energy (ATLS) an additional 10 cents a
share to settle litigation when its $3.59 billion acquisition is
completed, Bloomberg reports. The settlement comes in response to Atlas
shareholder lawsuits that claim company directors violated fiduciary
duties by agreeing to an inadequate merger price.

 

Major Corporate & Economic Events, Feb. 8 to Feb. 11

TUESDAY, Feb. 8

Extended-Hours Earnings: ACM, AGCO, ALLT, AXL, AGNC, ASEI, ASYS, ANDE,
MT, AZPN, ATRO, ATML, ATO, AVP, BZH, BR, BWLD, CNC, CERN, CRL, CIMT, CMP,
CRK, CVH, CSGS, DSCM, ELNK, ETR, XIDE, FLO, GWR, GHDX, GCOM, GIL, ILMN,
KNXA, KFRC, LTRE, LRY, MFE, MOTR, NTGR, NYX, PBI, PPDI, PCH, RENT, SLE,
SVVS, SGEN, SWIR, SRX, TIN, TEVA, MNI, PTRY, TM, TWTC, UBS, ULTI, USNA,
VIAS, VSH, DIS, WMG, WWWW, XL.

Economic Data: None.

WEDNESDAY, Feb. 9

Extended-Hours Earnings: ABD, ATVI, AAP, AGU, AKAM, ALCO, ANR, ASCA,
AMKR, ARRS, BECN, CSCD, CSCO, CKSW, CTCH, CSC, EXBD, CXW, XRAY, DIOD,
DTE, DVOX, EDMC, ENER, EPIC, EFX, EQIX, RE, FLIR, GSIC, IR, ISYS, IESC,
ICE, IRBT, KIM, MCZ, MET, MVIS, MICC, NOC, NUAN, OSUR, PACR, RL, PRU,
PSDV, RGEN, RURL, SNY, SCSS, SIAL, SON, STO, SSYS, SWS, TMRK, ALL, KO,
JNY, TMK, TQNT, UFPI, WFMI, WYN.

Economic Data: 7 a.m. MBA Mortgage Purchase Index; 10:30 a.m. Crude
Inventories.

THURSDAY, Feb. 10

Extended-Hours Earnings: AIN, ALU, LNT, ATHR, AUXL, BCRX, NILE, BWA, BG,
CPKI, CEPH, CMG, CGNX, CS, DVA, DROOY, ELON, EXPE, EZCH, FALC, FORR, GT,
GPI, HOKU, IKAN, INCY, IM, INPH, JCDA, JOEZ, KONA, LH, LF, LFUS, LPSN,
MNKD, TAP, MNTA, MOVE, NANO, NTWK, NBL, PMTI, PNRA, PEP, PM, RAX, RVSN,
RNWK, RIO, SPB, S, STMP, KOOL, TRI, VNDA, GRA, WWE, WMGI.

Economic Data: 8:30 a.m. Initial Claims; 10 a.m. Wholesale Inventories; 2
p.m. Treasury Budget.

FRIDAY, Feb. 11

Extended-Hours Earnings: BPO, CCJ, CCE, TOT, WBC.

Economic Data: 8:30 a.m. Trade Balance; 9:55 a.m. Michigan Sentiment

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