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    WEDNESDAY DECEMBER 22  2010

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Economic
07:00 MBA Mortgage Applications: -2.3% prior
08:30 GDP-Third Estimate (Q3): 2.7% cons.
08:30 GDP Deflator-Third Estimate (Q3): 2.3% cons.
|10:00 Existing Home Sales (Nov.): 4.65M cons.
10:00 FHFA Home Price Index (Oct.): -0.7% prior
10:30 Crude Inventories: -9.85M prior

TOP FINANCIAL NEWS

Wall Street rises as earnings and M&A stoke optimism

Government liabilities rose $2 trillion in FY 2010: Treasury

BUSINESS NEWS

After Hours Summary
 NKE -5.6%, RHT -2.9% Following Earnings/Guidance; TELOZ -15.8% (Co announces there will be no Q4 2010 distribution; intention to delist units from NASDAQ

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings

 TIBX +3.0%, PRGS +2.4%.

Companies trading higher in after hours in reaction to news

 YRCW +3.8% (announced amendments to its credit agreement and asset-backed securitization facility; expects Q4 adjusted EBITDA in excess of the amount required to meet its rolling-three-quarter covenant level of $100 mln).
After Hours Losers:

Companies trading lower in after hours in reaction to earnings

 NKE -5.6%, RHT -2.9%, HOV -2.1%, FINL -1.9%, CTAS -1.4%.

Companies trading lower in after hours in reaction to news

 TELOZ -15.8% (TEL Offshore Trust announces there will be no Q4 2010 distribution; intention to delist units from NASDAQ), XLNX -4.5% (lowers Q3 revs guidance below consensus), VRTX -2.3% (provides update to ongoing Phase 2 Study Evaluating Combinations of Telaprevir and VX-222 for the Treatment of Hepatitis C; -Two-drug treatment arm of telaprevir and VX-222 alone discontinue

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Before: AM, LNN, WAG

After: BBBY, CBK, MU, XRS

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4:30 PM ET
 

US Holiday: Christmas Day Observed

All Markets Closed, Banks Open
 
Equity Settlement
12-23-10
Equity Settlement
12-27-10
Equity Settlement
12-28-10
Equity Settlement
12-29-10
 

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BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

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     1. The New York Times
     2. USA Today (money)
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     5The Boston Globe (business)
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     8The Seattle Times (business)
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