Bloomberg:
- Coca-Cola(KO) may buy back as much as $13.2 billion of its stock, representing 13% of outstanding shares.
- Microsoft(MSFT) announced plans to buy back $40 billion in stock, sending the shares higher after-hours.
- National CineMedia LLC, a seller of on-screen ads for movie theaters, may raise more than $500 million in an IPO, said six people with direct knowledge of the plan.
- China and Russia may be reneging on commitments to demand that Iran stop enriching uranium, a British diplomat said after giving the UN Security Council a resolution threatening the Islamic nation with economic penalties for refusing to comply.
- Investors are paring bets the yuan will appreciate after losing money on wagers they made a year ago when China abandoned a peg to the dollar.
- Copper prices in Shanghai fell by the daily allowable maximum limit of 4%.
Financial Times:
- Morgan Stanley(MS) analyst Huw van Steenis has been chosen to lead a team that will offer investment banking advice to hedge funds and asset managers. The switch reflects the growing importance of hedge funds as corporate clients of investment banks.
Seattle Post-Intelligencer:
- Yahoo!(YHOO) signed a deal with Zillow.com, a real estate pricing site, to power Yahoo’s home value section.
Xinhua News:
- Overseas investors bought $4.5 billion of property in China in the first quarter, 32% more than the investment in the entire year of 2005.
Late Buy/Sell Recommendations
Business Week:
- ConocoPhillips(COP) is undervalued at a time when prices for crude oil are reaching record highs, citing Stephen Leeb, president of Leeb Capital Management.
- First Horizon National(FHN), a Memphis, Tennessee-based bank that has braches in 30 states, may rise as much as 26% because it may be an acquisition target of companies such as Wells Fargo(WFC), citing Ryan Beck Managing Director Jacqueline Reeves.
Night Trading
Asian Indices are -.75% to -.25% on average.
S&P 500 indicated +.26%.
NASDAQ 100 indicated +.25%.
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
- (ACI)/.43
- (CAT)/1.42
- (LLY)/.75
- (JBLU)/.04
- (NUE)/1.33
- (RSH)/.12
- (REY)/.39
- (SLB)/.63
Upcoming Splits
- (CX) 2-for-1
- (MRVL) 2-for-1
Economic Releases
- None of note
BOTTOM LINE: Asian indices are mostly lower, weighed down by stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
No comments:
Post a Comment