Bloomberg:
- ImClone Systems(IMCL) won US approval to sell its Erbitux cancer medicine as a treatment for patients with head and neck tumors, the first medicine for people with the disease in 45 years.
- Google Inc.(GOOG) which operates the most-used Internet search engine, is switching its servers to run on Advanced Micro Devices(AMD) chips instead of those made by Intel Corp.(INTC), according to a Morgan Stanley report.
- Honda Motor, buoyed by a 38% jump in sales of its Civic small car, helped Japanese and South Korean automakers widen their share of the US auto market in February.
Wall Street Journal:
- BellSouth Corp.(BLS) is considering charging customers on a so-called pay-as-you-go basis for its broadband Internet service, citing Chief Technology Officer Smith.
Financial Times:
- Former President Bill Clinton advised the United Arab Emirates’ DP World on its $6.8 billion acquisition of London-based Peninsular & Oriental Steam Navigation.
- General Motors Corp.’s(GM) board will not select a buyer for an $11.5 billion stake in its GMAC financial-services unit when it meets on March 6, citing an interview with Rick Wagoner.
Quitio daily el Comercio:
- Ecuador’s government aims to reach a free-trade agreement with the United States by April, after negotiating partners Peru and Colombia reached similar accords.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on (AMLN), (ARO), (PETM) and (SGMS).
- Reiterated Underperform on (KEA).
Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated unch.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
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Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
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Top 20 Business Stories
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Earnings of Note
Company/EPS Estimate
- (BBG)/.59
- (CKP)/.36
- (CIEN)/-.02
- (DLM)/.21
- (KCS)/.80
- (NOVL)/.03
- (UVN)/.23
Upcoming Splits
- (PHLY) 3-for-1
- (QLGC) 2-for-1
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to rise to 285K versus 278K the prior week.
- Continuing Claims are estimated to fall to 2450K versus 2495K prior.
BOTTOM LINE: Asian indices are mostly higher, led by exporting shares in the region after better-than-expected US economic reports. I expect US equities to open mixed and to rise modestly into the afternoon. The Portfolio is 100% net long heading into the day.
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