{"id":674,"date":"2009-01-12T06:30:55","date_gmt":"2009-01-12T11:30:55","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=674"},"modified":"2009-01-12T06:30:55","modified_gmt":"2009-01-12T11:30:55","slug":"before-the-open-132","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=674","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend.
\nThe Asian\/Pacific markets<\/b>, which didn\u2019t have a chance to react to last Friday\u2019s jobs report, closed mostly down today, but losses weren\u2019t terrible. India lost 3.2%; Seoul and China lost more than 2%; Australia and Singapore lost more than 1%.
\nEurope<\/b> is currently trading mostly down. Amsterdam, Stockholm and Switzerland are down more than 1%. Germany, France and London are down, but not by much.
\nFutures<\/b> here in the States are mixed and flat. 40 minutes before the open, Nas 100 futures<\/b> are up 1.5 (0.12%) to trade at 1223.25 while SPX futures<\/b> are down 1.0 (0.11%) to trade at 884.5.
\nCitigroup<\/b> (C) and Morgan Stanley<\/b> (MS) may announce as early as Monday a deal to combine their brokerages, a move analysts say could trigger a fresh wave of consolidation in the troubled and thinning banking industry.
\nHyundai Motor Co. <\/b>, South Korea’s largest automaker, will slash production between 25 percent and 30 percent at its domestic plants during the first quarter amid falling global demand for vehicles, the company said Monday.
\nBiotechnology company Human Genome Sciences Inc. <\/b> (HGSI) said Monday it expects revenue to top $250 million in 2009 as it delivers 20,000 doses of its anthrax vaccine to the federal government. This is higher than previously expected.
\nAdministrators for Waterford Wedgwood<\/b>, the collapsed maker of classic china and crystal out of London, said Monday they would cut 367 jobs from a plant in Britain.
\nTronox Inc. <\/b> (TROXA) said Monday it filed for Chapter 11 bankruptcy protection as it looks to reorganize its operations and alleviate legacy liabilities.
\nMedical equipment maker Hologic Inc. <\/b> (HOLX) said Monday its fiscal first-quarter revenue will fall short of prior guidance as hospitals cut spending on new equipment, including the company’s digital mammography systems.
\nThermage Inc. <\/b>, which makes an anti-aging skin tightening device, said Monday it changed its name to Solta Medical Inc. <\/b> and trade under the ticker symbol SLTM.
\nMedical device maker Medtronic Inc. <\/b> (MDT) said Monday it is buying privately held Ablation Frontiers Inc. for $225 million plus future milestone payments, in a move to expand its portfolio of treatments for abnormal heart rhythm.
\nBebe Stores Inc. <\/b> (BEBE) said Gregory Scott has resigned as chief executive to pursue other interests.
\nShares in UBS AG<\/b> (UBS) fell more than 5 percent Monday on newspaper reports the bank will announce record full-year losses next month and as investors cashed in on the stock’s recent rise.
\nMedical products and drug maker Abbott Laboratories<\/b> (ABT) is buying Advanced Medical Optics <\/b> (EYE) for about $1.36 billion plus debt in an effort to expand its eye care offerings.
\nAladdin Knowledge Systems<\/b> (ALDN) agreed to be acquired by an investor group for $160 milliion.
\nAudiovox<\/b> (VOXX), producer of automotive-entertainment and -security systems, reported that fiscal third-quarter earnings rose to 29 cents a share from 20 cents in the year-earlier period. Gross-profit margin widened to 19.9% from 19.1%.
\nBrookdale Senior Living Inc. <\/b> (BKD), owner and operator of senior-living communities in the U.S., said that its fourth-quarter average occupancy was flat with the third quarter at about 89.7%.
\nEquity Residential <\/b> (EQR) will reduce the number of planned development projects and, as a result, will incur a non-cash fourth-quarter charge of about $115 million, or 39 cents a share.
\nEpiCept<\/b> (EPCT), drugmaker, said it is ending its drug-discovery activity, cutting 65% of its workforce, and focusing on registering Ceplene, a drug that’s been cleared in Europe, for marketing in the U.S.
\nHarley Davidson<\/b> (HOG) was cut to conviction sell vs. neutral by Goldman Sachs. “We still see considerable downside as the dual impact of unprecedented headwinds in global luxury motorcycle demand and credit have yet to be fully digested by the shares, in our view,” the broker said.
\nHFF<\/b> (HF), the Pittsburgh real-estate services company, cut 57, or 12%, of its jobs nationwide after reviewing all of its business lines in the fourth quarter.
\nGold<\/b> is down 3.1% and Silver<\/b> is down 3.8%.
\nCrude oil<\/b> is down 1.75 to trade at 39.08.
\n—————————————————————————————-<\/p>\n\n\n\n
UPGRADES<\/b><\/td>\n\n

HOLX, CBSH, CFR, EDR, PALM, ZNT, LTD, A, GNTX<\/p>\n<\/td>\n<\/tr>\n

DOWNGRADES<\/b><\/td>\n MERC, TXRH, NOA, DOX, SHE, OMN, FUL, FOE, ASH, STM, DT, FTE, SSL, SE, AZO, TEN, WBS, UCBH, SIRO, PCP, PBH, MDAS, AA, CPHD, SKT, FPIC, PII, NST, MDCO, AMSF, SSS, ALV <\/td>\n<\/tr>\n<\/table>\n

—————————————————————————————-<\/p>\n\n\n\n\n\n
EARNINGS<\/b>
\n<\/tr>\n
before the open<\/td>\n SCHW, MTB <\/td>\n<\/tr>\n
during trading<\/td>\nnone <\/td>\n<\/tr>\n
after the close<\/td>\n ADTN, AA <\/td>\n<\/tr>\n<\/table>\n

—————————————————————————————-
\nECONOMIC RELEASES<\/b>
\nnone
\n—————————————————————————————-<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. The Asian\/Pacific markets, which didn\u2019t have a chance to react to last Friday\u2019s jobs report, closed mostly down today, but losses weren\u2019t terrible. India lost 3.2%; Seoul and China lost more than 2%; Australia and Singapore lost more than 1%. Europe is currently trading mostly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/674"}],"collection":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=674"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/674\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=674"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}