Asian indices are lower on rising worries that high energy prices will slow export growth in the region. A 6.9% stake in China's Huaxia Bank may be sold to a US bank, China Business News reported. Investigators discovered that Fannie Mae employees falsified accounting ledger signatures and improperly changed database records, the Wall Street Journal reported. PanAmSat Holding Corp., whose satellites help transmit the broadcasts of CNN and MTV, raised $900 million in an IPO less than a year after being sold to Kohlberg, Kravis Roberts, Bloomberg reported. Charlie Chen, who invests $1 billion in Chinese stocks for Fortis NV, is buying shares of companies that cater to consumers and selling those that benefited from a boom in construction spending, Bloomberg reported. Australian investors could sell as much as $2.5 billion worth of News Corp. shares as a further 25% of the media company is cut from the benchmark S&P/ASX 200 Index tomorrow, Bloomberg said. Microsoft Corp. said it has reached an agreement with several Chinese personal computer makers to launch computers with Windows XP installed as its default operating platform in an effort to fight piracy, Bloomberg reported. Toys "R" Us agreed to be acquired by KKR, Bain Capital and Vornado Realty Trust for about $6 billion, the NY Times reported. Eidos Plc, a UK video-game maker that's been seeking buyer since June, may receive an offer for the company from California-based buyout firm Francisco Partners LP, the London-based Times said.
Late Recommendations
- Goldman Sachs: Reiterated Outperform on DIS and ACS. Reiterated Underperform on THC.
Night Trading
- Asian Indices are -.75% to -.25% on average.
- S&P 500 indicated +.13%.
- NASDAQ 100 indicated +.17%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Analyst Actions
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/Estimate
CTAS/.42
ADBE/.50
ANN/-.07
BKS/1.54
DG/.39
DWA/1.55
DISH/.19
FDX/.98
GS/2.25
JBL/.27
MWD/1.16
NKE/.99
PLMO/.21
TEK/.31
WGO/.52
Splits
DHI 4-for-3
Economic Data
- Initial Jobless Claims for last week are estimated to fall to 315K versus 327K the prior week.
- Continuing Claims for last week are estimated to fall to 2668K versus 2703K prior.
- Leading Indicators for February are estimated to rise .1% versus a .3% decline in January.
- Philadelphia Fed. for March is estimated to fall to 20.0 versus a reading of 23.9 in February.
BOTTOM LINE: I expect US equities to open modestly higher in the morning on a bounce after today's losses. However, stocks may trade mixed-to-lower later in the day on another rise in oil and interest rates. The Portfolio is 25% net short heading into tomorrow.
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