Bloomberg:
- Shares of Quanta Display, a unit of the world’s biggest notebook computer maker, are rising as much as 3% after a news report said Sharp Corp. may buy as many as 4 million flat-panel displays from the Taiwanese company this year.
- The PGA Tour agreed to six-year television contracts with CBS and NBC and a 15-year deal with cable’s Golf Channel.
- Shares of Sharp Corp., the world’s biggest liquid-crystal display television maker, are having their biggest gain in more than four years after the company said sales next fiscal year will rise to a record $26 billion on demand for its flat-panels and solar cells.
Financial Times:
- Borders Group(BGP) may be acquired by one or more private-equity firms for more than $25 a share, or almost $2 billion, and taken private.
Fortune:
- Plans to reorganize the leadership of Dow Jones(DJ), publisher of the Wall Street Journal, began in April 2005.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on (MYL), (CSCO), (QCOM) and (RIMM).
Night Trading
Asian Indices are unch. to +.50% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated -.08%.
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Company/EPS Estimate
(CBSH).82
(SRR)-.02
(MTG)1.52
(MI).78
Upcoming Splits
(HITK) 3-for-2
(NRPH) 2-for-1
Economic Releases
8:30 am EST
- The Trade Deficit for November is estimated to shrink to -$66.1 billion versus -$68.9 in October.
- The Import Price Index for December is estimated to rise .2% versus a 1.7% decline in November.
- Initial Jobless Claims for last week are estimated to rise to 315K versus 291K the prior week.
- Continuing Claims are estimated to fall to 2681K versus 2718K prior.
2:00 pm EST
- The Monthly Budget for December is estimated at a $7.0 billion surplus versus a -$3.4 billion deficit in November.
BOTTOM LINE: Asian indices are mostly higher, led by technology companies in the region. I expect US equities to open modestly lower and to rally later in the day, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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