Earnings of Note
Company/Estimate
ATN/.42
BUD/.83
APPB/.33
ASKJ/.22
AVP/.46
BIIB/.32
BA/.47
CAH/.93
CMCSA/.09
EDS/-.03
ESRX/.94
HLT/.18
INSP/.14
JDSU/.00
NXTP/.05
SOHU/.24
SBL/.09
TWX/.15
ZBRA/.59
ZMH/.55
Splits
None of note.
Economic Data
Durable Goods Orders for June estimated +1.5% versus -1.8% in May.
Durable Goods Orders Less Transportation for June estimated +1.1% versus -1.4% in May.
Fed's Beige Book
Recommendations
Goldman Sachs reiterated Attractive view of non-life insurance industry, favorites are AIG, ALL, ENH, RE and STA. Goldman reiterated Outperform on AUO, DD, NFX and BC. Goldman reiterated Underperform on EDS and FSS.
Late-Night News
Asian indices are mostly higher, led by Japan, on optimism over exports after a report showed U.S. consumer confidence hit a 2-year high. Members of the al-Qaeda terrorist network are traveling through Europe on illegally obtained South African passports, the AP reported. Exxon Mobil is considering selling it 19% stake in China Petroleum & Chemical, raising about $1.2 billion, almost double what it paid four years ago, the Financial Times reported. Afghanistan will have 23 candidates for its presidential election in October, including the incumbent President Hamid Karzai, Agence France-Presse reported. A blood test may help prevent premature births by detecting infections in amniotic fluids, according to a study in the Journal of the AMA. The dollar traded near its highest in about six weeks against the euro and the yen in Asia after the strong U.S. consumer confidence report, Bloomberg reported. Charter Communications, the U.S. cable-tv operator controlled by billionaire Paul Allen, settled a SEC investigation into how it counted subscribers, Bloomberg said.
Late-Night Trading
Asian Indices are unch. to +1.0% on average.
S&P 500 indicated +.06%.
NASDAQ 100 indicated +.11%
BOTTOM LINE: I expect U.S. stocks to open modestly higher in the morning on stronger earnings reports, falling energy prices and stabilizing interest rates. The Portfolio is 100% net long heading into tomorrow.
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