Monday Watch

Earnings of Note
Company/Estimate
CHP/.08
CPB/.31
DY/.23
MDT/.46
NOVL/.03

Splits
SONC 3-for-2

Economic Data
None of note.

Weekend Recommendations
Forbes on Fox had guests that were positive on GE, AA and mixed on BBBY, TIF, VRTSE and HOV. Bulls and Bears had guests that were positive on GRMN, KKD, ADP and mixed on NEM, SLR, PNRA, NSM, MSO, TWX, INTC and DNA. Cashin' In had guests that were positive on LDG and mixed on ZNT, TOL and NOVL. Louis Rukeyser's Wall Street had guests that were positive on FCX, GPC, FLR, HAR, RL, BIIB, JPM, ABT, RDA, CCH, SNN and CAT. Wall St. Week w/Fortune had guests that were positive on C, MER, ATVI, ERTS, ZIXI and negative on TTWO, LF, NLS and SFP. Barron's had positive columns on BZH, CMCSA, ATK, ABMD and a negative column on SYMC. Goldman Sachs reiterated Outperform on ACN, EBAY. Business Week has a positive article on JNPR.

Weekend News
New York City has spent about $100 million to reinforce security at its reservoirs elsewhere in New York state to prevent terrorists from poisoning drinking water, the New York Post reported. Ford Motor Co.'s Escape, a sport-utility vehicle that gets about 23 miles to the gallon, and similar rivals are being snapped up as gas prices rise, the New York Times reported. International inspectors have found evidence that North Korea sold Libya two tons of weapons-grade uranium in 2001, the NY Times said. HSBC may bid for New York Community Bancorp, the Independent newspaper reported. Saudi Arabia is ready to increase oil production by more than 15% if needed to help lower prices, Oil Minister Ali al-Naimi said. Amec has agreed to help Korea National Oil Co. develop oil projects in Iraq, the Observer reported. U.S. military commanders said Iraqi militants loyal to al-Sadr seem to have abandoned their effort to control Karbala, the New York Times reported. Lloyds TSB Group Plc, the UK's no.5 bank, is in talks with IBM over a $1.8 billion technology contract, the Mail on Sunday said. Spending on Internet advertising reached $7.3 billion in 2003, a 21% increase, the San Francisco Chronicle reported. Halliburton's CEO said his company has never overcharged the U.S. Army for work in Iraq, the NY Times reported. Pakistan's President and India's new Prime Minister discussed peace moves between the countries and pledged to continue the process, Agence France-Presse reported. Starwood Hotels & Resorts Worldwide Chairman Sternlicht said he is "seeing group bookings making a significant comeback" and that the U.S. economy is "definitely getting legs under it," Bloomberg reported. Hewlett-Packard will offer its first mobile phone that combines the functions of a hand-held computer during the second half of this year, the Commercial Times reported. Vodafone may raise its dividend 20% this week, Bloomberg reported. Wells Fargo may buy Strong Capital Management, which settle lawsuits last week over allegations of engaging in improper mutual fund trading, Bloomberg reported.

Late-Night Trading
Asian indices are mostly higher, -.25% to +2.0% on average.
S&P 500 indicated +.38%.
NASDAQ indicated +.39%.

BOTTOM LINE: I expect U.S. stocks to open modestly higher in the morning on strength in Asia and falling oil prices. I have had some huge winners in the last couple of weeks and may rotate out of a few of these tomorrow. The Portfolio is 125% net long.