Company/Estimate
BBBY/.39
BBY/.44
BMET/.38
MLHR/.23
LEH/1.69
LEN/2.21
SCHL/1.76
WGO/.57
VTS/.18
Splits
None of note.
Economic Data
Empire Manufacturing for December estimated at 20.0 versus 19.76 in November.
NAHB Housing Market Index for December estimated at 70 versus 71 in November.
Recommendations
Goldman Sachs reiterated Outperform on EBAY, FS, GE, MDT, COH and Underperform on CR.
Late-Night News
Asian indices are higher as exporters in the region gained on optimism over sales to the US. Abby Joseph Cohen, chief investment strategist for Goldman Sachs, said she expects 2005 economic growth "will be good," averaging about 3.5%, CNBC reported. Wal-Mart declined to comment on a report that it may pull out of the bidding for Japan's Daiei, Bloomberg said. North Korea would consider any decision by Japan to impose economic sanctions against it as a "declaration of war," the communist nation's Foreign Ministry said. Sprint is close to an agreement to buy Nextel for more than $35 billion, doubling its customers, Bloomberg reported.
Late-Night Trading
Asian Indices are +.50%. to +1.25% on average.
S&P 500 indicated -.07%.
NASDAQ 100 indicated unch.
BOTTOM LINE: I expect U.S. equities to open modestly higher on strong earnings reports, economic data, merger speculation and gains in Asia. The Portfolio is 125% net long heading into tomorrow.
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