Earnings of Note
None of note.
Forbes on Fox had guests that were positive on APC, FCX, MMC, AH, DHB and IDNX. Bulls and Bears had guests that were positive on LYG, OXY, HPQ, NMG/A, TARO and mixed on ATYT and STX. Cashin' In had guests that were positive on SU, UPL,NOC and mixed on DEO. Louis Rukeyser's Wall Street had guests that were positive on CVX, CNF, FMC, MET, MSFT, TYC, MRK, AES and EP. Wall St. Week w/Fortune had guests that were positive on FRX, AGN, ELN, HCR, BEV and KIND. Barron's had a positive column on MIL. Barron's mid-year roundtable is positive on stocks for the second half of the year. Goldman Sachs reiterated Outperform on EBAY and raised 2Q estimates. Goldman said FLEX is oversold and to buy for a trade. Goldman reiterated Outperform on ATYT ahead of earnings report. ElectronicNews has a positive article on the semiconductor industry.
China will cut Internet access to unlicensed Internet cafes and strengthen its control over online chat rooms as part of a crackdown on "unhealthy" material on the Web, Xinhua reported. Baghdad's raw sewage began receiving treatment late last month for the first time in as many as 15 years, though officials made no fanfare about it for fear of the treatment plant being bombed, the NY Times reported. Telephone, cable and satellite prices will decline as they compete more with each other and fail to meet their growth goals, Barron's reported. Former President Bill Clinton, in a memoir to be released Tuesday, said his biggest disappointment while in office was his failure to bring Osama bin Laden to justice, Newsweek reported. Clinton lost his temper for several minutes during an interview that is scheduled to run Tuesday with the BBC's David Dimbleby when he was repeatedly questioned about his affair with Monica Lewinsky, the Sunday Telegraph reported. Las Vegas Sands, which operates the Venetian Casino Resort in Nevada, may have a market value of at least $4 billion after an IPO, Barron's reported. Al-Qaeda confirmed the death of the terrorist group's leader in Saudi Arabia, Agence France-Presse reported. Oil supplies resumed to Iraq's southern port of Basra after repairs were completed to a pipeline sabotaged by insurgents last week, the AP said. Exxon Mobil won a contract worth up to $1 billion to boost output from the Upper Zakum offshore oil field by a third over two years, Gulf News reported. Time Warner, whose profit has risen since Parsons became CEO in May 02, still faces U.S. federal accounting probes that began about two years ago, the NY Times reported. Pakistan and Saudi Arabia helped set the stage for the Sept. 11 attacks by cutting deals with Afghanistan's Taliban and Osama bin Laden that allowed the network to flourish, the LA Times reported. U.S. Justice Dept. prosecutors plan to ask a grand jury to return a fraud indictment against Enron's former Chairman Ken Lay, the Houston Chronicle reported. GE will offer financing products direct to consumers under the brand GE Money, the Financial Times reported. Chicago Sun-Times circulation officials set up fake sales accounts and told distributors to throw out newspapers to boost circulation numbers, the Wall Street Journal reported. The American Journal of Psychiatry published a positive study about Forest Lab's Celexa without acknowledging a negative one known to exist, the Wall Street Journal said. U.S. Treasury Secretary Snow said private sector forecasts that the U.S. economy will continue to generate 200,000 to 300,000 jobs a month this year are "reasonable," Bloomberg reported. Copper prices will probably rise for the second week in London and NY as U.S. demand for metal grows and inventories shrink, according to a Bloomberg survey. The South Korean government said it will stick to its plans to deploy 3,000 more troops in Iraq this summer, rejecting an ultimatum from Muslim militants who are threatening to behead a South Korean hostage unless the nation's soldiers are withdrawn, Bloomberg said.
Asian indices are mixed, -.25% to +1.50% on average.
S&P 500 indicated +.27%.
NASDAQ 100 indicated +.51%.
BOTTOM LINE: I expect U.S. stocks to open higher tomorrow as strength in Japan and declining oil prices boost investor sentiment. One of the new longs I added Friday afternoon was PD and I am using a $70 stop-loss on this position. The Portfolio is 75% net long heading into the week.