5 Things You Need to Know Before the Stock Market Opens
BOSTON (TheStreet) - Earnings results from Bank of America (BAC) and Morgan Stanley (MS) lead your quick fix of company, market, economic and investing news for Thursday, Jan. 19.
Thursday's 5 Biggest Stories
Bank of America books a profit in the fourth quarter, but it came thanks to one-time items like the sale of its CCB stake. [Reuters]
Morgan Stanley, on the other hand, reports a loss that was smaller than analysts had expected. [CNBC]
Spain and France pass critical tests: Both countries saw strong demand for their debt at auction. [NYT]
Don't forget about Greece! The country heads into a second day of talks with creditors to slash debt and avoid default. [Bloomberg] Meanwhile, Fitch Ratings says its review of six eurozone countries will results in downgrades of one or two notches. Welcome to the party, Fitch. [Reuters]Quote of the Day
"We don't need concessions. What we need is a sufficiently effective governance system that is able to eliminate the risk markets associate with the euro zone," Italian Prime Minster Mario Monti said of the need for better eurozone governance. [MarketWatch]Company News
It's finally official: Eastman Kodak (EK) has filed for bankruptcy. [NYT] Why even bother calling it eBay (EBAY) anymore. Let's just call it PayPal. [FT] WebMD (WBMD) is facing uncertain times, made more uncertain after Carl Icahn boosted his stake to nearly 12%. [Forbes]Markets
After 2011 saw outflows that rivaled 2008, investors are back in stock funds in 2012. [WSJ] 13 signs of a bull market. [Ivanhoff Capital]Investment Strategy
The most overbought ETFs list is topped by homebuilders. [Bespoke Investment] Wendy's (WEN) is one of three cheap stocks to consider now. [MarketWatch]Odds and Ends
Here's an Anthrax video to get you pumped for Thursday's trading session. [YouTube] -- Written by Robert Holmes in Boston.>To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: tips@thestreet.com.
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