Tuesday, July 25, 2006

Wednesday Watch

Late-Night Headlines
Bloomberg:
- STMicroelectronics NV(STM), Europe’s largest maker of semiconductors, said second-quarter profit rose more than 600% on higher demand for mobile-phone chips and savings from outsourcing jobs and production to Asia.
- China, France, Russia, the UK and US are close to an agreement on a UN resolution giving Iran about 30 days to stop enriching uranium or face economic penalties, US and French envoys said.

Fox News:
- The US has told Israel that it has 10-14 days to complete “a strategic blow,” against Hezbollah, citing an unidentified senior Israeli Foreign Ministry official.

DigiTimes:
- Microsoft Corp.(MSFT) plans to cut the price of its Xbox 360 video-game console by a quarter ahead of the release of Sony’s(SNE) PlayStation 3 consoles.

Late Buy/Sell Recommendations
- None of note

Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated -.07%.

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
- (AMG)/1.29
- (AKAM)/.18
- (ATI)/1.13
- (ABK)/1.74
- (BUD)/.76
- (BIDU)/.18
- (BIIB)/.49
- (BDK)/1.99
- (BA)/-.22
- (BOB)/.14
- (COP)/2.81
- (DO)/1.23
- (ESRX)/.73
- (FAF)/1.09
- (GM)/.55
- (ISRG)/.40
- (JNY)/.41
- (KMB)/.94
- (LIZ)/.45
- (LPX)/.46
- (LU)/.03
- (MSO)/-.16
- (WFR)/.42
- (MNST)/.30
- (MYL)/.28
- (NSC)/.92
- (PFCB)/.30
- (PD)/4.17
- (PX)/.71
- (PHM)/.90
- (RJF)/.45
- (REY)/2.06
- (COL)/.69
- (RUTH)/.19
- (SEE)/.72
- (SYMC)/.21
- (TEX)/1.07
- (TBL)/-.20
- (TSCO)/1.01
- (TRID)/.19
- (UARM)/.02
- (VAR)/.43
- (ZMH)/.82

Upcoming Splits
- (MDU) 3-for-2

Economic Releases
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 500,000 barrels. Gasoline supplies are expected to remain unchanged. Distillate inventories are expected to rise 1,500,000 barrels. Finally, Refinery Utilization is expected to rise .5%.

2:00 pm EST
- Fed’s Beige Book

BOTTOM LINE: Asian indices are mixed, as gains in automakers are offsetting losses in financial stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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