Company/Estimate
AAPL/.48
MDC/2.82
Splits
None of note.
Economic Data
Trade Balance for November estimated at -$54.0B versus -$55.5B in October.
Monthly Budget Statement for December estimated at $0.0B versus -$17.6B in November.
Recommendations
Goldman Sachs reiterated Outperform on MSFT, IGT, DNA, IP, JTX, SPP and Underperform on KZL. Goldman reiterated Attractive view of Lodging sector.
Late-Night News
Asian indices are mostly lower after declines in US shares and continuing worries over slowing global growth. Intel Corp. expects the market for flash memory to remain competitive, CFO Bryant said in an interview with CNBC. Billionaire investor George Soros and Herbert and Marion Sandler of Golden West Financial Corp., who opposed President Bush's re-election, are planning to fund more Democratic party research groups, the Financial Times reported. Exxon Mobil's Mobil Travel Guide, which rates restaurants and hotels, is restructuring amid increased competition from a growing number of travel Web sites, books and services, the Wall Street Journal said. Walt Disney President Iger said in an interview with Reuters that rain in Southern California has had "some impact" on attendance revenue at its Disneyland theme park in Anaheim. BMW AG will diversify into the international market for multiple-purpose vehicles, or "people carriers," the Financial Times said. Lehman Brothers Holdings talks to buy London-based hedge fund GLG Partners have come to a standstill in recent weeks, the Wall Street Journal said. Foreign-exchange trading rose to record levels in the first week of 2005, when the dollar, used for 90% of global currency transactions, surged against the euro, the Financial Times said. China will probably add 58 million mobile-phone users this year, state-run Xinhua News Agency said, Bloomberg reported. China risks inciting a backlash from US lawmakers and businesses because of policies subsidizing state-run companies, curbing imports and pegging its currency to the dollar, US Commerce Secretary Donald Evans said. Cleveland-Cliffs, the biggest North American marker of iron ore pellets, agreed to buy Australia's Portman Ltd. for $465 million in cash to increase iron ore sales to Chinese steelmakers, Bloomberg reported. Copper for immediate delivery in London may rise about 10% to $3,500 a metric ton in the second quarter as smelters close for maintenance, sapping supply, said an official at Japan's No.3 producer of the metal. Infosys Technologies said third-quarter profit rose 51.5% as it won new orders from customers, Bloomberg said.
Late-Night Trading
Asian Indices are -1.0% to -.25% on average.
S&P 500 indicated +.15%.
NASDAQ 100 indicated +.51%.
BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning on strength in technology shares. I will decide whether or not to shift market exposure later in the day. The Portfolio is 50% net long heading into tomorrow.
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