Monday, January 12, 2009

The Kirk Report

The Kirk Report

Earnings Calendars

Posted: 12 Jan 2009 11:19 AM CST

One of the many reasons why investors and traders are using more ETFs than ever before is that they offer less "stock-specific blowup risk" usually associated with earnings. As we approach another earnings season, please make sure to take time to identify the reporting date for every stock you own (or want to own).

One of the tools I use is Yahoo's Earnings Calendar simply because it offers a nice ticker search tool. Just type in the ticker symbol and they provide the reporting date:

Earnings Calendar

Other tools you may want to utilize this season are: RTT News, Wall Street Journal, MarketWatch, & Earnings.com

M&A & Earnings

Posted: 12 Jan 2009 08:30 AM CST

Good morning. Weakness in overseas markets and few noteworthy headlines to work with have premarket futures mixed.

One week ahead of the inauguration, the incoming Obama administration is negotiating with lawmakers to avoid a messy political fight as it seeks the second half of the $700 billion bailout.

In other news, we have some M&A activity this morning. Abbott Labs will acquire Advanced Medical Optics and Vector Capital is going to buy Aladdin Knowledge Systems. Citigroup and Morgan Stanley are apparently considering joining brokerage businesses and GM & Ford are reportedly mulling offers to sell their Swedish affiliates. Finally, there is speculation that Exxon is ready to make an acquisition.

Premarket gainers: EYE, STC, EXAS, GTCB, VOXX, HGSI, ALDN, GBX, OCNF, LINE, APWR, PALM, HOLX, ITMN, BC, DRYS, RMBS, EGLE, SOA, SONS, PBY, BRKR, & CFX.

Premarket losers: HOG, HSVLY, LNT, WIT, SNX, BBI, PCLN, ACH, SLW, RTP, NIHD, AAUK, ASML, AA, ENL, BP, C, ACGY, ERIC, LOGI, & HL.

Today is expected to be a relatively quiet session as Wall Street prepares itself for the official start of earnings season as Alcoa reports after the closing bell. There's no economic data due out today and the only thing on the calendar is a couple of speeches by Henry Paulson and Atlanta Fed President Dennis Lockhart.

Meanwhile, the Detroit Auto Show is likely to draw tons of media attention especially as people try to figure out whether these firms are going to be able to survive without more government money. Oil prices will also be closely watched as they trade below $39 per barrel this morning.

Finally, according to Stock Trader's Almanac, the first day day of January expiration week the Dow has been up 5 of the last 6 years and I keep hearing a lot of people focusing on 850 on the S&P as a "do or die" level of support. That said, I personally think we need to see the market reverse course here and stay above 900 this week to maintain a positive technical bias especially as earnings season gets underway.

Let's make it a great week!

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