Earnings Announcements
Company/Estimate
FDS/.41
GIS/.66
KBH/1.59
LEH/1.67
LEN/.83
Splits
ATVI 3-for2
BRL 3-for-2
CEC 3-for-2
GWR 3-for-2
Economic Data
Housing Starts for February estimated at 1930K vs. 1903K in January.
Building Permits for February estimated at 1900K vs. 1899K in January.
FOMC expected to leave rates unchanged.
Recommendations
Goldman Sachs says ITW seeing broad-based improvement, raises estimates. GS raised estimates on MMM. Goldman reiterates Outperform on BAX and $40 target.
Late-Night News
Ericsson says Nokia's new walkie-talkie handset won't work with other suppliers' network software and it may take years to fix, the Wall Street Journal reported. Merrill Lynch was hired to manage China Power's IPO.
Late-Night Trading
Asian markets are mostly lower, ranging from -1.0% to +.20%.
S&P 500 indicated +.11%.
NASDAQ indicated -.04%.
BOTTOM LINE: Not much in the way of late-night news. I will look for more concrete signs of a short-term bottom as we are approaching very oversold levels. The Portfolio is currently 25% net long.
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