Company/Estimate
DCI/.33
OSIP/-1.17
Splits
None of note.
Economic Data
None of note.
Weekend Recommendations
Wall Street Week w/Fortune had guests that were negative on TPX and NFLX. Forbes on Fox had guests that were positive on MC, MEE, BP, mixed on SKS and negative on XRX. Cashin' In had guests that were positive on OEH, PWI, LSI, EDE, NOI and mixed on OSIP, SIRI, JPM. Bulls and Bears had guests that were positive on SNE, LEXR, AMX, TARO, MKL, QQQ, SIRI, PRAA, CRI and mixed on WTW. Barron's had negative comments on AUDC. Goldman Sachs reiterated Outperform on EBAY, DNA and Underperform on FISV. U.S. financial, health-care services and biotechnology stocks are among the favorite issues of Edward Keon Jr., chief investment strategist at Prudential Equity Group LLC, Barron's reported.
Weekend News
U.K. and German business groups will write to the U.S. SEC opposing the requirements of the Sarbanes-Oxley corporate governance law, the Financial Times reported. A two-night trip to New York from Manchester, England, to do Christmas gift shopping is cheaper than taking the train to London for a weekend to buy the same items, the Independent reported. The first stirrings of unrest have begun among the migrant workers who provide cheap labor to China's booming Pearl River Delta, which has drawn more than $50 billion in foreign investment the past five years, the Washington Post said. Colombia's largest rebel group targeted President Bush for assassination during his trip to the South American nation earlier this week, Reuters reported. The Iraqi government rejected calls for national elections to be delayed, sticking to its Jan. 30 poll date, the AP reported. Cendant Corp., the largest U.S. real estate and travel services company, will probably buy Ebookers Plc, Europe's largest online travel company, the Sunday Times reported. Researchers at the Idaho National Engineering and Environmental Laboratory and ceramics company Cerametec have found a more efficient way to produce pure hydrogen, which may be a step in weaning the U.S. off its dependence on oil, the NY Times reported. Alpaca breeding is increasing in popularity in the U.S. as a controlled market for breeding stock has caused prices for the animals to steadily rise, drawing former doctors and corporate executives to ranching, the NY Times reported. The DJIA may reach 40,000 by 2010, driven by technology and spending by people from the Baby Boom generation, author Harry Dent Jr. told Wall Street Week w/Fortune. China's inflation rate may slow to 3% next year, down from 5.3% in August, on slower growth in investment and exports, Xinhua news agency reported. E*Trade Financial will introduce a trading platform for futures contracts next year, the Financial Times reported. The decline of the dollar and the increase in oil prices haven't caused a "significant change" in the U.S. inflation outlook, the Fed's Poole said. Iraq, the fifth-largest oil producer in the Middle East, will spend more than $1 billion next year to increase oil output capacity by about 15% to 3.25 million barrels a day, Bloomberg reported. U.S. stock may build on their fourth-quarter gains in December as Microsoft's special dividend of $32 billion encourages investors to put more money into equities before year-end, Bloomberg said. Small businesses plan double-digit IT spending increases, CRN reported. Iraqi oil output was fairly steady at about 2 million barrels a day in the second and third quarters, despite frequent sabotage attempts, the Wall Street Journal reported.
Late-Night Trading
Asian indices are higher, +.25% to +1.25% on average.
S&P 500 indicated +.29%.
NASDAQ 100 indicated +.38%.
BOTTOM LINE: I expect U.S. stocks to open modestly higher in the morning on gains in Asia, optimism over weekend retail sales, declining energy prices and a stabilizing dollar. The Portfolio is 125% net long heading into tomorrow.
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