Company/Estimate
BLUD/.11
SGR/.14
Splits
CCJ 3-for-1
Economic Data
Unemployment Rate for December estimated at 5.4% versus 5.4% in November.
Average Hourly Earnings for December estimated up .2% versus a .1% increase in November.
Change in Non-farm Payrolls for December estimated at 175K versus 112K in November.
Change in Manufacturing Payrolls for December estimated at 0K versus a loss of 5K in November.
Average Weekly Hours for December estimated at 33.8 versus 33.7 in November.
Consumer Credit for November estimated at $6.0B versus $7.7B in October.
Recommendations
Goldman Sachs reiterated Outperform on CZN, ACN, FORM, CSCO, GLW, MMM, MDT, DD, ROH, XOM, AHC, PFE, AGN and Underperform on DCLK, PSS, DDS, MAY, HBAN. Share of Marathon Oil(MRO) may rise more than 35% this year as the company is an attractive acquisition target for ChevronTexaco and Total SA and has "bright prospects" in Libya, Russia and West Africa, Business Week reported. Shares of Movado Group(MOV) may rise as the market for luxury goods expands, Business Week reported. Cornell Cos.(CRN) may be worth as much as $20 a share in a buyout, Business Week reported.
Late-Night News
Asian indices are mostly lower on weakness in electronics shares in the region. France may change its legal code to allow class-action lawsuits, the Financial Times reported. Boeing and Lockheed Martin rockets will be used to launch US government satellites at least through the end of the decade, the Wall Street Journal reported. Toyota Motor plans to assemble Camry sedans with gasoline-electric engines at its Kentucky plant starting in 2005, the Yomiuri newspaper reported. Adelphia Communications is unlikely to be sold in one piece to buyout firms, which may not want to pay the $17.5 billion sought by an Adelphia creditor, the Wall Street Journal reported. Avantest Corp., the world's biggest maker of gear used to test computer memory chips, received more orders in the fiscal third quarter than its $391 million forecast, CEO Oura said. The dollar headed for its biggest weekly gain against the euro in more than five months in Asia on optimism a jobs report today will bolster the case for higher interest rates, Bloomberg said. Unocal Corp. shares had their biggest gain in almost six years after the Financial Times said China National Offshore Oil Corp., China's third-biggest oil company, may bid more than $13 billion for the U.S. energy producer, Bloomberg reported. Greek shipping companies First Financial, Golden Energy Management SA, Drytank SA plan to sell shares to finance new vessels, betting that demand from China will boost freight rates after a slump since November, Bloomberg said. Oil & Natural Gas Corp., India's biggest oil explorer, is in talks to purchase assets of OAO Yukos Oil Co., Bloomberg said. GM, Ford, Toyota and other automakers recalled a record 30.7 million vehicles in the US last year, increasing costs and further diminishing public perception of auto quality, Bloomberg said. Sprint Corp. and Virgin Group Ltd. may sell shares of their Virgin Mobile USA joint venture, the Wall Street Journal reported.
Late-Night Trading
Asian Indices are -1.0% to +.50 on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated -.03%.
BOTTOM LINE: I expect U.S. equities to open modestly lower in the morning as interest rates rise on a better-than-expected employment report or worries increase over slowing growth on a below-expectations report. However, a below-expectations report may spur a rally later in the day as interest rates fall. The Portfolio is market neutral heading into tomorrow.
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