FirstAlert: 5-6:15 P.M. Investrend / Bestcalls
Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Awaiting The Anticlimax (By Philip Holmes) -- Equities were a mixed bag of nuts at the end of the trading day on Wall Street, as investors waited to see how other investors would react to the final form of the stimulus package from Washington. All eyes are on President Obama, the uncertain new headmaster of a kindergarten full of ADD kids with undeservedly high self esteem. Recent days saw the class bullies pulling the hair of the "sensitive" kids, until the teacher's pets stepped in, yanking the other groups apart and imposing their own, thoroughly lame, brand of compromise. By Monday they were sitting with smug looks on their faces, awaiting a gold star. Obama seems likely to give it to them. Roused from a long nap, the president set about getting a final version of the $800 bill passed. He was in campaign mode on Monday, standing before an Indiana crowd and emphasizing the importance of the Great Stimulus. But the most important piece of the overall recovery plan remains unresolved: what to do about the banks, and all their toxic assets. The administration seems poised to loft a trial balloon ' probably some form of re-hydrated Paulson Jerky. We'll all be told that it's a good idea to have another trillion dollar go at trying to fill a $12 trillion hole. Without resolution of that crisis it won't matter much whether the genius tax cuts put $12 or a big $15 extra into the paychecks of the average Joe. You won't have functioning credit markets, so it's like jump-starting an old car with Quick Start and an empty gas tank: it runs for a few seconds then quits. Perhaps it will be like the New Deal after all, in a modern Hollywood version. Call this round the Original, to be followed by the Sequels. As long as the original opens big in Elkhart.
The Investrend Earnings Calendar features Applied Materials (NASDAQ: AMAT), expected at $0.01; Computer Sciences (NYSE: CSC), expected at $1.02; General Cable (NYSE: BGC), expected at $0.55; Emerson Electric (NYSE: EMR), expected at $0.57.
The Investrend Economics Calendar lists Weekly Chain Store Sales (8:55 a.m.), Wholesale Sales for December (10 a.m.), Fed Chairman Bernanke speaks (1 p.m.), Treasury auctions 3-year notes (1 p.m.).
The Investrend Events Calendar showcases ADBE, TXN, GLW, SNX at Thomas Weisel Partners Technology & Telecom Conference; AGII, FPIC, NATL at New York Society of Security Analysts Insurance Conference; ALZ, GILD, ALNY, DNDN at Biotechnology Industry Organization BIO CEO & Investor Conference; DD, MOS, MON, DOW at Goldman Sachs Ag Conference; DD, ROK, ITW, UTX at Barclays Capital Industrial Select Conference; FLO, PENN, FCN, SWHC at Deutsche Bank Small and Mid-Cap Growth Conference; GE, V, MA, BA at CLSA Asia Investors' Forum; MCK, UNH, UNT, BKD at UBS Global Healthcare Services Conference; NAL, WBS, ANH at Sterne, Agee & Leach Financial Services Symposium; WYE, AZN, LLY, HOLX at Institute for International Research ePharma Summit.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 30 advancers versus 19 decliners and one unchanged. Advancers were led by Hartford Fin Svc (NYSE: HIG) up 18.53%, Gen Electric Co (NYSE: GE) up 13.87%, Bk Of America Cp (NYSE: BAC) up 12.40%, Huntington Bancshares Incorpora (NASDAQ: HBAN) up 10.59%, Regions Financial Cp (NYSE: RF) up 10.48%, Fifth Third Bancorp (NASDAQ: FITB) up 9.89%, Motorola Inc (NYSE: MOT) up 6.96%. Decliners followed Viropharma Incorporated (NASDAQ: VPHM) down 52.99%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.research.ibm.com/deepblue/
Quote of the Day: "My advice to the women's clubs of America is to raise more hell and fewer dahlias." William Allen White
Today is: Plimsoll Day.
Happy Birthday: Boris Pasternak, Alan Hale Sr., Jimmy Durante, Dame Judith Anderson, Lon Chaney Jr., Leontyne Price, Robert Wagner, Roberta Flack, Greg Norman, George Stephanopoulos, Lenny Dykstra.
Today in History: Queen Victoria of the United Kingdom married Prince Albert of Saxe-Coburg-Gotha in 1840. New Delhi became the capital of India in 1931. Death of a Salesman opened at the Morocco Theatre in New York City in 1949. Captured American spy pilot Francis Gary Powers was exchanged for captured Soviet spy Rudolf Abel in 1962. The IBM supercomputer Deep Blue defeated Garry Kasparov for the first time in 1996.
[FirstAlert" was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert" do not necessarily reflect the opinions of Investrend.]
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