Bloomberg:
- Helmut Sohmen, the Hong Kong-based tycoon who controls the world's largest closely held shipping company, said oil tanker rates this year will be below the record reached in 2004 as more ships are launched.
- North Korea said it would regard any sanctions by the UN as an act of war, after Washington said it may take the issue of the communist nation's nuclear program to the UN Security Council.
- US venture-capital investments dropped 7.9% in the first quarter, as funding for biotech companies fell amid declines in biotech stocks and withdrawals of key drugs, a survey found.
Wall Street Journal:
- Microsoft and SAP AG will jointly develop and sell software that combine their two main lines of business products.
Reuters:
- North Korea may conduct a nuclear test by June 15, citing David Kay, a weapons expert who headed the US-led search for banned arms in Iraq.
Financial Times:
- The European Union's probe of Chinese textiles is discriminatory and risks damaging trade relations with China, said Cao Xinyu, vice chairman of the China Chamber of Commerce for Import & Export of Textiles.
- Merrill Lynch is leading a group negotiating with Banca Intesa SpA, to buy over $13 billion of bad loans from Italy's biggest bender by assets.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MSFT, GLK, AMLN, SBC, EBAY, TRI and SII.
- Reiterated Underperform on CR and SIRI.
Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated +.01%.
NASDAQ 100 indicated -.10%.
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
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
AKS/.54
AFL/.63
AMZN/.23
AXP/.75
BJS/.62
EAT/.57
CME/1.93
COH/.22
GLW/.16
CVTX/-1.61
ESV/.24
ESRX/1.07
HLT/.13
IMCL/.32
INSP/.37
LLL/.82
LXK/1.03
LMT/.75
MHP/.35
MHS/.56
MNST/.17
NTES/.45
OXY/1.99
OMC/.80
PCAR/1.49
SLB/.61
SLE/.31
TROW/.70
WAT/.36
WBSN/.33
Splits
None of note
Economic Releases
10:00 EST:
- Consumer Confidence for April is estimated to fall to 98.0 versus a reading of 102.4 in March.
- New Home Sales for March are estimated to fall to 1190K versus 1226K in February.
BOTTOM LINE: Asian indices are mixed on earnings reports in the region. I expect US equities to open modestly higher in the morning on lower energy prices and positive earnings reports. The Portfolio is 75% net long heading into tomorrow.
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