Company/Estimate
BJ/.31
BGP/-.02
HPQ/.37
HD/.56
JCP/.48
NTAP/.14
JWN/.46
SKS/.04
SPLS/.40
WMT/.54
ZLC/-.21
Splits
DVN 2-for-1
NFB 3-for-2
Economic Data
Producer Price Index for October estimated up .6% versus a .1% gain in September.
PPI Ex Food & Energy for October estimated up .1% versus a .3% increase in September.
NAHB Housing Market Index for November estimated at 70 versus a reading of 72 in October.
Recommendations
Goldman Sachs reiterated Underperform on SMP, AMCC and VRTX.
Late-Night News
Asian indices are mostly lower as stocks in the region consolidate recent gains. President Bush will name Condoleezza Rice secretary of state tomorrow, Fox News reported. Chunghwa Telecom, Taiwan's largest phone company, this month will sign an accord with eight U.S. movie companies, including Time Warner, for rights to provide their movies on its movies-on-demand channel, Economic Daily reported. The number of millionaires in the U.S. rose 33% from a year earlier because of stock market gains, the Wall Street Journal reported. There were 8.2 million U.S. households with a net worth of more than $1 million excluding their primary residence as of the middle of the year, 2 million more than a year earlier, the newspaper said. Israel is ready to work with a "responsible" Palestinian Authority leadership on coordinating an Israeli plan to withdraw settlements from the Gaza Strip and West Bank, Bloomberg reported. Buyout firms Thomas H. Lee Partners and Texas Pacific Group may each bid $9 billion for Fidelity National, the largest U.S. title insurance company, the NY Times reported.
Late-Night Trading
Asian Indices are -.50% to unch. on average.
S&P 500 indicated -.12%.
NASDAQ 100 indicated -.16%
BOTTOM LINE: I expect U.S. equities to open mixed-to-weaker in the morning and head modestly higher by day's end. The Portfolio is 125% net long heading into tomorrow.
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