Earnings of Note
Company/Estimate
CI/1.25
CVS/.54
HIG/1.57
ICOS/-.93
IPMT/.30
RL/.11
TRK/.91
TOM/-.10
UVN/.19
Splits
None of note.
Economic Data
Factory Orders for June estimated +.5% versus -.3% in May.
ISM Non-Manufacturing for July estimated at 61.5 versus 59.9 in June.
Recommendations
Goldman Sachs reiterated Outperform on CZN, TYC and PCG. Goldman reiterated Underperform on VICL, CIEN and PPS.
Late-Night News
Asian indices are lower on continuing fears that high energy prices will damage growth in the region. Korea Exchange Bank will open a branch in Iraq for more than 3,000 South Korea troops who will be stationed in northern Iraq, Korea Economic Daily said. China Construction Bank's lending growth slowed in the first half of this year after it cut loans to the real estate industry, International Finance News said. Caterpillar workers will strike this week if negotiations don't lead to a new contract, the AP reported.
Late-Night Trading
Asian Indices are -1.25% to -.50% on average.
S&P 500 indicated -.37%.
NASDAQ 100 indicated -.40%
BOTTOM LINE: I expect U.S. stocks to open modestly lower in the morning on weakness in Asia and rising oil prices. My short-term trading indicators are giving sell signals. The Portfolio is 25% net long heading into tomorrow.
No comments:
Post a Comment