Daily Wrap

DJIA +87.31 (+0.58%) to 15,056.20; S&P 500 +8.46 (+0.52%) to 1,625.96; NASDAQ -2.48 (-0.08%) to 2,952.88

My idea of an up morning to noon EST time resulting in a sell off looked good as the S&P 500 initially peaking around 10am EST and then started to sell off losing about 7 points in 15 minutes.  That ultimately marked the lows for the day and the bulls stepped in buying the market higher and we finally closed 9 points off of those lows leaving the SPY ETF up over 14% YTD.

Electronic Arts (EA) announced a deal with Disney (DIS) to partner on Star Wars video games.  The two companies are obviously hoping the revitalized series with a new movie set to open soon will spark interest back in the name.  Both names report earnings after the close and I will particularly be watching DIS which is up roughly 30% YTD and roughly 50% over the past 12 months.  Does the report have enough juice to keep the good times rolling?

As always this time of year many names are moving based on their earnings report or the subsequent announcements around earnings and I try and outline all the names reporting before the open to give you a short list to review in the pre-market which could end up stocks of the day.  I also post at StockTwits (WSConsensus), just before the close, the names that are scheduled to report that day after the close.  Moving today we saw Fossil (FOSL) and DirecTV (DTV) gain 9.01% and 6.88% respectively on their reports.  On the other side was a name like Ruckus Wireless (RKUS) losing 26.16% on their report.

The following noteworthy companies are scheduled to report earnings before tomorrow’s open: CTSH, LAMR, STWD, AOL, GEO, HII, CLMT, WEN

In analyst notes today, EOG Resources (EOG) received an upgrade to Buy at Stifel with a $150 price target.  Also receiving upgrades to Buy included Brunswick (BC) from Longbow and Tyson Foods (TSN) from Miller Tabak.  Lastly Urban Outfitters (URBN) was raised to Outperform at Wells Fargo with a $49 price target.  On the downside, Goldman downgraded AIG (AIG) to Neutral with a $46 price target and Alpha Natural (ANR) to Sell with a $5 price target.  Some of these and other upgrades and downgrades for the day can be found each morning when I post my 9 @ 9 in the Upgrades/Downgrades section.