Earnings Announcements
Company/Estimate
ABT/.56
CKEC/-.15
FAST/.34
GE/.32
GTK/.67
NET/.11
RAD/.08
SUP/.50
Splits
CRDN 3-for-2
Economic Data
Initial Jobless Claims for last week estimated at 340K vs. 342K prior week.
Continuing Claims estimated at 3023K vs. 3062K prior week.
Wholesale Inventories for March estimated +.3% vs. +.1% prior month.
Recommendations
Goldman Sachs reiterated Outperform on STLD, CIT, AXP and KRB.
Late-Night News
Asian stocks are mostly higher on strong performances by U.S. technology shares in after-hours trading. Ira Zar, former chief financial officer of Computer Associates, has agreed to plead guilty tomorrow to at least one felony charge, the Wall Street Journal reported. Wire transfers indirectly link the Saudi Embassy in Washington with suspected al-Qaeda operatives in the U.S., Newsweek reported. Copper, which climbed 30% in London in the first quarter, may stay near eight-year highs through June as demand grows in the U.S. and China and inventories dwindle, according to a recent survey, Bloomberg reported. Pfizer's Torcetrapib, an experimental heart medicine that the company plans to combine with the best-selling drug Lipitor, significantly increased patients' levels of a beneficial type of cholesterol in a study, Bloomberg said.
Late-Night Trading
Asian Indices unch. to +.75%.
S&P 500 indicated +.39%.
NASDAQ indicated +.77%.
BOTTOM LINE: Tomorrow should be a good day for U.S. stocks as DELL, YHOO, DNA and RIMM all reported very good news. I expect shares to hit their highs by mid-day, thus I may take profits into this strength. Traders will likely take profits in the afternoon heading into the 3-day holiday weekend on terrorism/war concerns.
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