Earnings of Note
Company/Estimate
BRCD/.05
BKST/-.03
CAI/.58
BWS/.39
EV/.49
HAR/.68
HOTT/.10
INTU/-.07
MDT/.43
MW/.44
ROST/.29
SNPS/.32
TLB/.34
Splits
IMGC 3-for-2
POT 2-for-1
Economic Data
None of note.
Recommendations
Goldman Sachs reiterated Outperform on SPLS, AYE, MERQ, BIIB and AMAT. Goldman reiterated Underperform on FRX.
Late-Night News
Asian indices are mixed as strength in Taiwan is offset by weakness in India. Iran would destroy Israel's Dimona nuclear reactor if Israel attacked an Iranian nuclear power plant under construction, the AP reported. Taiwan President Chen Shui-bian said the island would never accept China's demand to refer to direct air links across the Taiwan Strait as "domestic" flights, the Taipei Times said. Sony expects to increase digital-camera production next fiscal year by at least 20% to 30% to try to meet demand, Bloomberg reported. A busy hurricane season in the Gulf of Mexico may drive up crude oil prices, the Wall Street Journal reported. The National Weather Service is predicting an "above-average" season, with 12 to 15 tropical storms and two to four major hurricanes, the newspaper said. Venezuela's National Electoral Council will conduct an audit of Sunday's recall vote on President Hugo Chavez to address opposition allegations of fraud, Bloomberg said. ING Groep NV will withdraw about $5 billion from Janus Capital funds this year, the Wall Street Journal reported.
Late-Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated -.15%.
NASDAQ 100 indicated -.11%
BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning on stronger earnings reports and stabilizing energy prices. The Portfolio is 75% net long heading into tomorrow.
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