Thursday, January 05, 2006

Thursday Watch

Late-Night Headlines
Bloomberg:
- Sony Corp.(SNE) will begin selling Blu-ray disc players this “summer” in the US, about three months after Toshiba will unveil its own high-definition player.
- Microsoft(MSFT) Chairman Bill Gates will show for the first time the new consumer features in the next version of his Windows software, touting search and digital photo advancements in a bid to stem losses to Google(GOOG)

Dow Jones:
- An internal report into Fannie Mae’s(FNM) accounting errors may be delayed to February, citing Warren Rudman, who is leading the probe.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on (SEPR), (SLB), (ARO) and (ZION).

Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated -.09%.
NASDAQ 100 indicated -.09%.

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
(ACN).34
(STZ).50
(ENTG).09
(BLUD).18
(RI).27
(TTWO).30
(TXI).14

Upcoming Splits
(JJSF) 2-for-1

Economic Releases
8:30 am EST
- Initial Jobless Claims are estimated to fall to 320K versus 322K the prior week.
- Continuing Claims are estimated to fall to 2680K versus 2715K prior.

10:00 am EST
- ISM Non-Manufacturing for December is estimated to rise to 59.0 versus a reading of 58.5 in November.
- Pending Home Sales for November are estimated to fall 1.0% versus a 3.2% decline in October.

BOTTOM LINE: Asian indices are mostly higher, led by technology shares in the region, after US tech shares rallied and XLNX raised guidance. I expect US equities to open modestly higher and to build on gains into the afternoon. The Portfolio is 100% net long heading into the day.

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