Earnings Announcements
Company/Estimate
DOX/.24
HSII/.07
LSCC/-.01
STAR/.23
OS/-.25
Splits
None of Note
Economic Data
Consumer Price Index estimated up .3% in Jan. vs. a .2% rise in Dec.
CPI Ex Food and Energy estimated up .1% in Jan. vs. a .1% rise in Dec.
Late-night News
Tivo's(TIVO) shares will climb as it attracts more subscribers, Business Week reported in its "Inside Wall Street" column. The column also said Net2Phone Inc.'s(NTOP) shares may reach $11 in a year. Bird Flu killed a cat for first time, Thailand's Nation reports. The book-to-bill ratio for North American chip-tool makers was 1.18 in January, lower than the 1.23 reported in December. TheStreet.com, reporting from the Enercom Oil Service Conference, said the CEO of Patterson-UTI(PTEN) stated that declining natural gas production rates and increasing demand will translate into "a lot more drilling" this year. As well, the CEO of Unit Corp.(UNT) said for natural gas production just to remain stable, the number of drilling rigs in North Amer. will have to reach 1,100 from 950 currently. TheStreet.com also reported that Nabors(NBR), Precision Drilling(PDS) and Grey Wolf(GW) will also benefit directly. Indirect beneficiaries include GRP, SII, BHI, SLB and HAL.
Late-Night Trading
Asian markets are down, ranging from -.25% to -1.25%.
S&P 500 indicated -.08%.
NASDAQ indicated -.07%.
BOTTOM LINE: Asian markets are weaker across the board with tech leading the way down. With option expiration tomorrow, volatility should remain through early next week. I plan to add a few shorts into any rally tomorrow, taking my net market exposure to 20% net short. The Portfolio is currently market neutral.
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