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EQUITY LETTER

  THURSDAY NOVEMBER 12  2009

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Economic
08:30 Initial Claims
08:30 Continuing Claims
11:00 Crude Inventories: -3.94M prior
14:00 Treasury Budget (Oct.): -$150.0B cons.

TOP FINANCIAL NEWS

H-P to acquire 3Com for $7.90 cash

Standard & Poor’s Announces Changes to U.S. Index
Cantel Medical Corp. (CMN) will replace NATCO Group Inc. (NTG)
after the close of trading on a date to be announced. NATCO is being acquired by S&P 500 constituent Cameron International Corp. (CAM) in a deal expected to be completed soon pending final approvals. Calavo Growers Inc. (CVGW) will replace Sterling Financial Corp. (STSA) after the close of trading on Wednesday, November 18

BUSINESS NEWS

After Hours Summary
 COMS +34.5%, HPQ -0.7% (3Com to be acquired by HPQ for $7.90 per share in cash; HPQ preliminary Q4 results; raises FY10 earnings and revs outlook); AMAT +0.8% on earnings/guidance
Companies trading higher in after hours in reaction to earnings
 CTRP +12.0%; AMAT +0.8%...  
Companies trading lower in after hours in reaction to earnings
 GMCR -9.8%; AAP -3.3%...  
Companies trading higher in after hours in reaction to news
: COMS +34.5% (3Com to be acquired by HPQ for $7.90 per share in cash)... 
Companies trading lower in after hours in reaction to news
: PGR -1.4% (Progressive Reports October Results); HPQ -0.7% (preliminary Q4 results; raises fiscal year 2010 earnings and revenue outlook; 3Com to be acquired by HPQ for $7.90 per share in cash).

Earnings

Before: ACM, ATK, BCE, BPHX, BRKS, ECA, FCSX, FUQI, GSOL, GBX, KSS, MMS, MPEL, VIVO, NAFC, RRST, SI, GASS, SPH, TEF, URBN, WMT

After: AFCE, BBI, BEAT, CRI, CPA, DAR, ESE, FREE, GA, ICXT, MATW, MDSO, MSCC, JWN, URS, DIS, WGL

Events

CSX, DHR, GE, CAT at Citi Industrial Manufacturing & Transportation Conf.

BPI, COCO, LRN, CPLA at Signal Hill Education Preview Investor Conference
FED: $16 bln 30-yr Treasury Bond Auction

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Equity Settlement
11-12-09
Equity Settlement
11-16-09
Equity Settlement
11-16-09
Equity Settlement
11-17-09
Equity Settlement
11-18-09

 

the market

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BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

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