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EQUITY LETTER

WEDNESDAY    JANUARY 28 2009

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Economic 
10:30 Crude Inventories: 6.1mln prior
14:15 FOMC Rate Decision

TOP FINANCIAL NEWS

Thain called to testify on Merrill bonuses

Dow considers first dividend cut since 1912

BUSINESS NEWS
After Hours Summary
 YHOO +4.9% on earnings; GE -1.8% (objective is to maintain its Triple-A rating; does not anticipate any major operational impacts should that change)
Companies trading higher in after hours in reaction to earnings
 JAVA +6.3%; YHOO +4.9%; SYK +3.8%; NSC +3.6%...  Companies trading lower in after hours in reaction to earnings
 RFMD -13.1%; DV -7.7%; MOLX -5.9%; AMLN -5.9%; GILD -2.6%; ETFC -1.8%... 
Companies trading higher in after hours in reaction to news
: CMA +3.6% (dividend of $0.05, down from prior dividend of $0.33)... 
Companies trading lower in after hours in reaction to news
: CP -8.0% (announces common equity offering of 12.6 mln shares at C$36.75); NEM -4.1% (to acquire remaining interest in Boddington project in western Australia; announces proposed common stock and convertible notes offerings to raise ~$1.2 bln; announces positive 2008 operating results, with continuing improvements expected in 2009); GE -1.8% (objective is to maintain its Triple-A rating but it does not anticipate any major operational impacts should that change).

Earnings

Before: AMG, AAI, ARLP, APU, T, BHI, BDX, BA, CETV, COP, GLW, CFR, DOV, BEN, GD, HES, HUB/B, KNSY, LAZ, LCRY, LM, MPX, MKC, MWV, NYT, NVS, PFE, PM, PJC, PX, RGS, ROH, RES, SAP, SO, SWK, SY, TDW, TEL, UGI, USG, WLP, WFC, WTNY, WRLD

During: BOKF, EGN, SUSQ

After: ADPT, AFFX, ARG, ALGN, ALL, AMP, AVCT, BXP, BSX, CBT, CAI, CAVM, CLS, CRUS, CTXS, CNS, CPWR, CVD, CTS, DST, DNB, EXTR, FIC, FLEX, FORM, FBN, GMCR, HBI, HMX, HOKU, ISIL, KEX, KFN, KNX, LRCX, LSTR, LSI, MTW, MLNX, MTH, MEOH, MUR, NTY, OTEX, OI, PLXS, PSSI, QCOM, RHI, RYL, SIGI, SHOR, SSCC, STLY, SBUX, SNS, SRDX, SYMC, TER, TTEK, TLGD, TSCO, VIRL, WDC

Events

BK, MET, NYX, SNV, KEY at Citi Financial Services Conf.

SQNM Analyst Day

DNDN, EBS at Phacilitate Vaccine Forum

American Bankers Association Risk Management Annual Conf.

American Gas Association Outlook for the Natural Gas Industry Conf.

World Economic Forum Annual Meeting

The Wall Street Journal Home Page

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        MAJOR WORLD INDEXES

 

 

 

 

     

The Wall Street Journal Home Page

STOCK MARKET TOOLS

2008 U.S. Economic Events & Analysis
Monthly Weekly Daily Today 12:03 AM ET << 2008
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
Monday Jan 26

 
 

 

 
Leading Indicators
[Report][Bullet
10:00 AM ET

 

 

 

 
 

 

 

 
Redbook
[Bullet
8:55 AM ET

 

 

 
2-Yr Note Auction
[Bullet
1:00 PM ET
 

 

 

 
 

Weekly Bill Settlement

 

 
Jobless Claims
[Report][djStar]
8:30 AM ET

 
New Home Sales
[Report][djStar]
10:00 AM ET

 

 

 

 
5-Yr Note Auction
[Bullet
1:00 PM ET

 
Money Supply
[Bullet
4:30 PM ET
 

 
GDP
[Report][Star]
8:30 AM ET

 

 
NAPM-Chicago
[Report][Bullet
9:45 AM ET

 

 
Farm Prices
[Bullet
3:00 PM ET
 
Equity Settlement
1-29-09
Equity Settlement
1-30-09
Equity Settlement
2-2-09
Equity Settlement
2-3-09
Equity Settlement
2-4-09

 

 

the market

MARKET UPDATES

Advanced Sectors Sectoring by Industry Group

BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

 Economic Indicators

Top Ten Online Business Newspapers

     1. The New York Times
     2. USA Today (money)
     3. The Washington Post (business)
     4. Los Angels Times (business)
     5The Boston Globe (business)
     6Financial Times
     7Houston Chronicle (business)
     8The Seattle Times (business)
     9Chicago Tribune (business)
   10San Francisco Chronicle (business)