Bloomberg:
- Thomas Suozzi, a former mayor of Glen Cover, NY, and the first Democrat in 40 years to be elected head of Long Island’s Nassau County, filed papers to challenge NY Attorney General Eliot Spitzer for the party’s gubernatorial nomination.
- Pfizer agreed to pay Sanofi-Aventis SA $1.3 billion to obtain worldwide marketing rights to the Exubera inhaled insulin treatment, ending their partnership on the medicine.
ABC News:
- FBI officials are investigating an increase in purchases of large batches of disposable mobile phones by Iraqis and Pakistanis in California and Texas to find a possible link to terror networks. Terrorists used such phones to explode bombs in the 2004 Madrid train attacks.
Shanghai Securities Journal:
- China has no plans to sell dollar assets, citing central bank Governor Zhou Xiaochuan.
South China Morning Post:
- North Korean dictator Kim Jong Il is in China’s southern city of Guangzhou and will visit Shenzhen on the border of Hong Kong today.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on (CSCO), (GOOG), (YHOO), (EBAY), (BSX), (FD) and (RE).
- Upgraded (STX) and (HPQ) to Outperform.
- Reiterated Underperform on (ZLC).
Business Week:
- Roy Disney’s investment company Shamrock Capital Advisors bought an 11% stake in IPass Inc.(IPAS).
- Outback Steakhouse(OSI) may rise about 50% within the next year because of an increase in assets from acquisitions of small, start-up units, citing Friedman Billings Ramsey’s Howard Penney.
- Perficient Inc.(PRFT) may be worth $12 a share in a year, Collins Gills of Canaccord Adams said.
Night Trading
Asian Indices are -.25% to unch. on average.
S&P 500 indicated +.05%.
NASDAQ 100 indicated unch.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
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
- None of note
Upcoming Splits
(NRPH) 2-for-1
Economic Releases
8:30 am EST
- The Producer Price Index for December is estimated to rise .4% versus a .7% fall in November.
- The PPI Ex Food & Energy for December is estimated to rise .2% versus a .1% gain in November.
- Advance Retail Sales for December are estimated to rise .9% versus a .4% increase in November.
- Retail Sales Less Autos for December are estimated to rise .4% versus a .3% decline in November.
10:00 am EST
- Business Inventories for November are estimated to rise .4% versus a .3% increase in October.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity producing companies in the region. I expect US equities to open lower and to rally later in the day, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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