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EQUITY LETTER

THURSDAY  MAY 7  2009

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Economic
08:30 Initial Claims
08:30 Productivity-Prel. (Q1): 0.9% cons.
08:30 Unit Labor Costs (Q1): 2.5% cons.
15:00 Consumer Credit (Mar.): -$3.3B cons.

TOP FINANCIAL NEWS

BUSINESS NEWS
After Hours Summary
 CSCO +2.2% on earnings/guidance

Companies trading higher in after hours in reaction to earnings
 ONNN +8.9%; PRU +3.5%; MVSN +2.7%; CSCO +2.2%...  Companies trading lower in after hours in reaction to earnings
 TBSI -18.4%; IO -10.8%; EGLE -6.7%; SYMC -5.2%; USU -8.6%... 
Companies trading higher in after hours in reaction to news
: VNDA +825% (confirms FDA approves Vanda Pharmaceuticals' Fanapt for the treatment of schizophrenia); DDR +5.1% (announces new secured debt financings for $125 mln, Otto transaction scheduled to Close May 11); DHI +2.0% (DR Horton: Fitch Rates D.R. Horton's $400 mln convertible sr notes 'BB'; outlook negative)...  Companies trading lower in after hours in reaction to news: DSX -8.2% (files mixed-securities shelf); LCC -6.8% (announces concurrent offerings of 15.2 mln shares of common stock and $75 mln in convertible notes for total gross proceeds of $150 mln); SPG -3.2% (announces 14,000,000 common stock offering).

EARNINGS

Before: ACM, AER, AYR, ATK, ALD, ALY, ABK, ABV, AIG, AOB, AHII, ANSS, ARCC, ARIA, ARQL, ATPG, FLY, BCE, BCRX, BVF, BPZ, BRNC, CVC, CAM, LSE, CRZO, CKP, LNG, CNK, CGX, CNSL, CLR, CPA, CXW, COWN, CXR, CRYP, CTCM, CYPB, DWSN, TRAK, DK, DGIT, DTPI, DTV, DHI, DYN, RDEN, ETM, ENZN, FTK, FIG, FTR, FTO, GM, GNA, GLG, GG, GPX, GAP, GPOR, HWK, HPY, HOC, HDIX, HWCC, HRP, ITWO, IDA, IMAX, IPSU, INCY, ISPH, ISIS, JMP, KEG, KNOL, KOP, KSWS, LAMR, LNY, LEAP, LEA, LXP, LINE, MIC, MMS, MPW, PCS, MEND, MDS, MNTA, NDAQ, NRP, NCI, NGCP, NICE, NRF, NOVN, OMG, OHI, PCAP, PPCO, PRFT, PRGO, PDC, PXP, PGNX, QCCO, RSTI, RDC, RGLD, RRST, SLE, SMBL, BID, SRT, STXS, STE, SPH, SUI, SUP, SUSS, SFY, SXCI, SMA, NGLS, TKLC, TNC, TDC, TRI, TWGP, THS, TRMS, RMIX, USPH, VIP, WMG, WSO, WW, WEN, WNS, WWE

After: ATVI, ADPT, AES, AIRM, ARE, ALL, ALNY, APEI, ARP, AHS, ANDE, ARNA, AGO, BYI, RATE, BEBE, CELL, BRKS, CAP, CPKI, CPE, CNQ, CBOU, CBS, CHRD, COHR, CSTR, COMV, CROX, CUB, DAR, DPM, DCT, DPTR, DXCM, DIVX, DXPE, BAGL, EBS, ERII, EXEL, FCH, FSYS, GNW, GOK, HANS, HLYS, HMIN, IDSY, INWK, PODD, IDCC, INAP, IPI, ISTA, MVSN, MMLP, MSSR, MCGC, MRX, MCHP, MAA, MIL, MOVE, MSCS, MFLX, NHP, NEWP, NVTL, NVDA, OMPI, OIS, PRX, PDLI, PEGA, POM, PCR, POWR, PRO, PRSC, PSA, RAH, RNWK, RSCR, RMD, ROSE, RRR, RTEC, SD, SAPE, SGMS, SHOR, SRX, SRSL, SHO, SVR, KNOT, THOR, UEIC, YSI, VRSN, VVUS, WTW, INT

Events 

CCBG, MSL, TRMK, SUPR at Gulf South Bank Conf.

VZ Shareholders Meeting

POT Shareholders Meeting

BTU Annual Meeting of Shareholders

UBS at New York Society of Security Analysts Manager Search and Selection Conf.

 MRO, ALJ, WNR, LAZ at Argyle Executive Forum Leadership in Oil & Gas Houston Conf.

CMG, HTBK, INTU, CNQR at D.A. Davidson & Co. Financial Services Conf.

FED: Fed's Evans; Fed's Bernanke; $14 bln 30-yr Treaty Bond Auction

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2009 U.S. Economic Events & Analysis
Monday May 4

 
 

 

 

 

Tom Hoenig Speaks
12:30 PM ET


 

 

Jeffrey Lacker Speaks
2:00 PM ET


 


Eric Rosengren Speaks
6:45 AM ET


 

 
Redbook
[Bullet
8:55 AM ET

Ben Bernanke Speaks
10:00 AM ET


 

 

 

 

Gary Stern Speaks
1:15 PM ET



Janet Yellen Speaks
7:00 PM ET


 

 

 

 

Gary Stern Speaks
9:00 AM ET


 

 

 

Janet Yellen Speaks
5:30 PM ET


 


Weekly Bill Settlement

 

 

 

 

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

 

 
RBC CASH Index
[Bullet
9:00 AM ET

Ben Bernanke Speaks
9:30 AM ET


 

 

 

 

 

 
Money Supply
[Bullet
4:30 PM ET
 

 

 
Wholesale Trade
[Bullet
10:00 AM ET

Jeffrey Lacker Speaks
1:00 PM ET


 

Equity Settlement
5-7-09
Equity Settlement
5-8-09
Equity Settlement
5-11-09
Equity Settlement
5-12-09
Equity Settlement
5-13-09

 

 

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)