Company/Estimate
AMAT/.26
BKST-.33
GME/.24
INTU/-.27
HOTT/.27
MDT/.45
PETM/.24
OSIP/-1.17
MGAM/.22
TOO/.27
TLB/.50
Splits
None of note.
Economic Data
Consumer Price Index for October estimated up .4% versus a .2% increase in September.
CPI Ex Food & Energy for October estimated up .1% versus a .3% gain in September.
Housing Starts for October estimated at 1950K versus 1898K in September.
Building Permits for October estimated at 2000K versus 1998K in September.
Industrial Production for October estimated up .4% versus a .1% gain in September.
Capacity Utilization for October estimated at 77.4% versus 77.2% in September.
Recommendations
Goldman Sachs reiterated Outperform on DHR, JTX, GE and Underperform on HRB. Banc of America upgraded FD to Buy.
Late-Night News
Asian indices are mostly higher on strength in technology shares in the region. ING Groep NV, the biggest Dutch financial services company, is in talks to sell its U.K. fund management unit in two parts to Massachusetts Mutual Life Insurance and Northern Trust, the Financial Times reported. AU Optronics said there are signs prices of flat panel displays are bottoming out, Commercial Times reported. SBC Communications will pay Microsoft $400 million for software for sending television content over high-speed data lines, the NY Times reported. Caterpillar is named on a list of U.S. companies and products being targeted by the European Union as likely to face punitive customs duties in 2005 in response to the U.S.'s so-called Byrd Amendment, the Financial Times reported. The U.S. Senate finance committee will push ahead with proposals for changes to the tax system and won't wait for the conclusions of a commission, the Financial Times reported. The Chicago Board of Trade may meet investment banks today to discuss plans for a share sale that could value the exchange at as much as $2 billion, the Financial Times reported. FedEx has asked the Indian government for approval to set up a wholly owned subsidiary in the country, the Economic Times reported.
Late-Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated +.15%.
NASDAQ 100 indicated +.29%
BOTTOM LINE: I expect U.S. equities to open modestly lower on inflation worries and trade mixed-to-higher into the afternoon on falling energy prices and stronger economic reports. The Portfolio is 100% net long heading into tomorrow.
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