Earnings Announcements
Company/Estimate
CBK/.21
CKR/-.08
STZ/.54
DAB/.41
DNA/.32
YHOO/-.11
Splits
None of note.
Economic Data
Import Price Index estimated +.6% for March vs. +.4% prior month.
Recommendations
Goldman Sachs reiterated Underperform on EK. GS says they expect FLEX and PLXS to surprise on the upside and raise guidance. GS says CLS is favorite EMS company for long-run. GS reiterated Outperform on UTX and GDT.
Late-Night News
Asian stocks are slightly on quiet trading. An Iraqi armed force killed 12 U.S. soldiers west of Baghdad as Donald Rumsfeld said coalition forces isolated the city of Fallujah, Bloomberg reported. Japan's foreign currency government bond rating was raised to Aaa from Aa1 by Moody's Investors Service, Bloomberg reported. Oracle's loss of a deal to provide the U.S. Justice Department with as much as $24M of software to a small competitor has boosted its case against antitrust authorities in its hostile bid for Peoplesoft, the Wall Street Journal reported.
Late-Night Trading
Asian Indices unch. to +.50%.
S&P 500 indicated -.17%.
NASDAQ indicated -.27%.
BOTTOM LINE: Technology shares will likely open lower in the morning on Seagate's(STX) disappointing earnings guidance. Anxiety over violence in Iraq may pressure shares as well. I will closely monitor the market's response to the Seagate news and make a decision on whether or not to add exposure on weakness or add new shorts to cut exposure.
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