The Kirk Report |
Posted: 09 Mar 2009 02:11 PM PDT While I ran out of time last week to open up the mailbag, I made some time for it today. Here are the topics I'll cover in this post:
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Credit Fears, M&A, Stem Cells, & More Posted: 09 Mar 2009 05:53 AM PDT Good morning. Once again, premarket futures are pointing to a lower open following weakness in overseas markets. Concerns about deepening loan losses, especially at HSBC, are to blame along with a big dividend cut at Capital One and new fears as credit markets tigthen back up. That said, not all of the headines are conducive for more market declines. Namely, we have a big M&A deal between Merck and Schering-Plough this morning and news that China is likely to expand its stimulus. Stem cell stocks are also under heavy accumulation as Obama is about to lift research restrictions today. Premarket gainers: ASTM, STEM, GERN, SGP, AOB, CYTX, QGEN, HGSI, DISK, GGP, FLEX, SAY, FRP, ACAS, SGY, SLM, SFD, PACR, & AMZN. Premarket losers: HBC, AXA, AFL, MTG, MTW, TEX, LNC, ODP, ALL, WGOV, JASO, PALM, EGLE, MRK, DRYS, LYG, BCS, HBC, MS, & IGT. Today's only economic report comes at 10:AM with the Conference Board's Employment Trends report. Ben Bernanke is also scheduled to speak again. After the closing bell, tech investors will also be looking forward to the mid-quarter update from Texas Instruments. With premarket futures pointing lower, all eyes will be back on Friday's intraday lows (if we get there) and whether we're able to see any stability near these levels. Beyond that, the market will remain headline driven. Let's make it a great week! |
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