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5 Things You Need to Know Before the Stock Market Opens

BOSTON ( TheStreet) - Earnings results from Bank of America (BAC - Get Report) and Morgan Stanley (MS - Get Report) 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. [<a href="http://www.reuters.com/article/2012/01/19/us-bankofamerica-idUSTRE80I0UF20120119" target="blank" rel="nofollow">Reuters</a>]

Morgan Stanley, on the other hand, reports a loss that was smaller than analysts had expected. [<a href="http://www.cnbc.com/id/46046385" target="blank" rel="nofollow">CNBC</a>]

Spain and France pass critical tests: Both countries saw strong demand for their debt at auction. [<a href="http://www.nytimes.com/2012/01/20/business/global/spanish-and-french-bond-sales-draw-strong-demand.html" target="blank" rel="nofollow">NYT</a>]

Don't forget about Greece! The country heads into a second day of talks with creditors to slash debt and avoid default. [<a href="http://www.bloomberg.com/news/2012-01-18/greek-debt-swap-talks-set-for-second-day.html" target="blank" rel="nofollow">Bloomberg</a>]

Meanwhile, Fitch Ratings says its review of six eurozone countries will results in downgrades of one or two notches. Welcome to the party, Fitch. [<a href="http://www.reuters.com/article/2012/01/19/us-fitch-downgrades-idUSTRE80I0NP20120119" target="blank" rel="nofollow">Reuters</a>]

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. [<a href="http://www.marketwatch.com/story/italys-monti-urges-better-euro-zone-governance-2012-01-18-1624400" target="blank" rel="nofollow">MarketWatch</a>]

Company News

It's finally official: Eastman Kodak (EK) has filed for bankruptcy. [<a href="http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/" target="blank" rel="nofollow">NYT</a>]

Why even bother calling it eBay (EBAY - Get Report) anymore. Let's just call it PayPal. [<a href="http://www.ft.com/intl/cms/s/0/cbf677f0-422d-11e1-9506-00144feab49a.html" target="blank" rel="nofollow">FT</a>]

WebMD (WBMD - Get Report) is facing uncertain times, made more uncertain after Carl Icahn boosted his stake to nearly 12%. [<a href="http://www.forbes.com/sites/ericsavitz/2012/01/18/webmd-icahn-boosts-stake-to-11-64-still-seeks-1b-buyback/" target="blank" rel="nofollow">Forbes</a>]

Markets

After 2011 saw outflows that rivaled 2008, investors are back in stock funds in 2012. [<a href="http://blogs.wsj.com/marketbeat/2012/01/18/investors-dip-leading-edge-of-toenail-back-into-stock-funds/" target="blank" rel="nofollow">WSJ</a>]

13 signs of a bull market. [<a href="http://ivanhoff.com/2012/01/18/13-signs-of-a-bull-market/" target="blank" rel="nofollow">Ivanhoff Capital</a>]

Investment Strategy

The most overbought ETFs list is topped by homebuilders. [<a href="http://www.bespokeinvest.com/thinkbig/2012/1/18/homebuilder-etf-still-dominating.html" target="blank" rel="nofollow">Bespoke Investment</a>]

Wendy's (WEN) is one of three cheap stocks to consider now. [<a href="http://www.marketwatch.com/story/3-cheap-stocks-to-snap-up-under-10-2012-01-19" target="blank" rel="nofollow">MarketWatch</a>]

Odds and Ends

Here's an Anthrax video to get you pumped for Thursday's trading session. [<a href="http://www.youtube.com/watch?v=FW0HeE9ymYU" target="blank" rel="nofollow">YouTube</a>]

-- 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.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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SYM TRADE IT LAST %CHG
BAC $17.88 1.19%
EBAY $28.33 1.18%
MS $39.25 0.00%
WBMD $44.00 -0.36%
AAPL $123.38 0.50%

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

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