Earnings of Note
Company/Estimate
AMAT/.25
BJ/.37
BGP/.06
HD/.64
EL/.32
DKS/.33
DE/1.50
JCP/.23
TJX/.24
SPLS/.22
SKS/-.12
WIND/-.02
Splits
RNT 3-for-2
WIRE 3-for-2
Economic Data
Consumer Price Index for July estimated +.2% versus +.3% in June.
CPI Ex Food & Energy for July estimated +.2% versus +.1% in June.
Housing Starts for July estimated at 1895K versus 1802K in June.
Building Permits for July estimated at 1950K versus 1945K in June.
Industrial Production for July estimated +.5% versus -.3% in June.
Capacity Utilization for July estimated at 77.5% versus 77.2% in June.
Recommendations
Goldman Sachs reiterated Underperform on SGP. Goldman reiterated Outperform on BAX.
Late-Night News
Asian indices are quietly higher on a decline in energy prices and a rally in U.S. shares. OAO Yukos Oil, Russia's biggest oil exporter, posted a first-half loss of $2.7 billion, compared with a profit of $1.3 billion for the same period in 2003, the Financial Times reported. A crackdown by Pakistani security forces on Osama bin Laden's al-Qaeda terrorist network is forcing members of the group to flee the country, Agence France-Presse said. Microsoft may sign a three-year deal with the U.K. government that offers enhanced services and support to its basic software packages, the Financial Times reported. Former employees of MediaOne that hold AT&T Wireless stock options may sue Cingular for forcing them to exercise the options when Cingular completes its acquisition of AT&T Wireless, USA Today reported. China bank may raise interest rates as early as Oct. 1 as the government switches to market forces from administrative measures to cool the economy, the Securities Daily said. President Bush and Senator Kerry should concentrate on fighting terrorism if they want to help the U.S. economy, according to a National Association for Business Economics survey of its members.
Late-Night Trading
Asian Indices are unch. to +.50% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated -.09%
BOTTOM LINE: I expect U.S. equities to open modestly higher on better-than-expected economic data and better earnings reports. The Portfolio is 75% net long heading into tomorrow.
No comments:
Post a Comment