Author: FX_Trdr

President Barack Obama called House Speaker John Boehner and Senate Republican leader Mitch McConnell Thursday about the looming spending cuts set to kick in on March 1.

It was a mixed open on Wall Street today with the markets heading into negative territory following the release of the latest Fed minutes. The Commerce Department is reporting a sharp drop in housing starts, which fell 8.5 percent to a seasonally adjusted annual rate of 890,000 last month.

Visteon (VC) was upgraded by JP Morgan (JPM) to overweight as the the current stock price provides investors with an attractive entry point. A $73 price target was issued.

Here’s the latest news for Wednesday, February 20th: More bodies could be found after KC blast; Jesse Jackson, Jr. Pleads guilty in illegal use of campaign money; Prosecutors walks back claim in Pistorius case; Indoor hailstorm.

Toll Brothers (TOL) announced that it earned $4.4 million, or 3 cents per share, during its first fiscal quarter, versus a loss of $2.8 million, or two cents per share, in the same quarter last year. Revenue increased by 32 percent to $424.6 million from $322 million.

Officials said if automatic budget cuts kick in on March 1, the Pentagon may be compelled to furlough the ‘vast majority’ of the Defense Department’s 800,000 civilian workers.

Music exec Davis says in memoir that he’s bisexual; DiCaprio calls for ivory trade ban in Thailand; Anne Hathaway honored at the 15th Annual Costume Designers Guild Awards.

Cliffs Natural (CLF) was upgraded at J. .

Builder confidence in the market for new single-family homes was virtually unchanged in February with a one-point decline to 46, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Economists expected the index to climb to 48.

Alpha Natural (ANR) had its numbers increased by Credit Suisse (CS) as the company has been reducing its cash costs. A $10 price target was issued with a neutral rating.