Earnings Announcements
Company/Estimate
CVTX/-1.25
DPH/.20
ET/.20
BONZ/.04
NVR/11.36
SUP/.50
TARO/.53
VMSI/.06
Splits
None of note.
Economic Data
Housing Starts for March estimated at 1900K vs. 1855K prior month.
Building Permits for March estimated at 1910K vs. 1903K prior month.
Industrial Production for March estimated +.3% vs. +.7% prior month.
Capacity Utilization for March estimated at 76.8% vs. 76.6% prior month.
U. of Mich. Consumer Confidence preliminary April estimated at 97.0 vs. 95.8 prior month.
Recommendations
None of note.
Late-Night News
Asian stocks are mixed as strength in Taiwan is being offset by weakness in Korea. In another sign that companies have finally begun to boost their technology spending, worldwide PC shipments rose 16.5% in the in the first quarter versus expectations of 13.5% growth, according to researcher IDC. The genetically-modified food debate will begin to intensify in the EU as the 15-nation block prepares to end its six-year ban on new bio-engineered crops, the Wall Street Journal reported. Echo Bay Mines is under investigation for allegedly paying terrorist groups in exchange for protection of its mines, ABC News said. China and the U.S. are close to reaching a bilateral air services agreement, the South China Morning Post reported.
Late-Night Trading
Asian Indices -1.75% to +1.25%.
S&P 500 indicated unch.
NASDAQ indicated -.14%.
BOTTOM LINE: The NASDAQ 100 Globex futures are rallying late-night after declining 9 points earlier in the evening. The Portfolio is market neutral heading into trading tomorrow. U.S. stocks may bounce tomorrow if the NASDAQ 2000 level holds early on. A convincing break through 2000 would lead to further selling in the broad market. I would like to see stocks with great earnings reports rewarded and interest rates stabilizing before I get more aggressive on the long-side.
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