Monday, September 25, 2006

Tuesday Watch

Late-Night Headlines
Bloomberg:
- Western Union will join the S&P 500 Index, replacing Andrew Corp.(ANDW) on Sept. 29, S&P said.
- BP Plc(BP) and Total SA are among 34 overseas oil companies bidding to drill in India, lured by more favorable tax terms and legal certainty.
- PMC-Sierra(PMCS), a maker of chips for telecommunications equipment, cut its third-quarter revenue forecast, citing a drop in customer demand.
- Lowe’s Cos.(LOW) lowered its profit and sales forecasts for the third time in four months amid a cooling housing market.
- A former NY hedge fund manager was charged with illegally short-selling Compudyne Corp. shares hours before the company announced a private share offering.

Shanghai Securities News:
- China’s alumina prices fell 53% from March to about $379 because of surging production capacity. China’s alumina output surged 51% in the first eight months of this year to 8.33 million tons from a year earlier.

Financial Express:
- Starbucks(SBUX) will partner with the RPG Group in India.

Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (HNT), target $58.
- Reiterated Buy on (ATVI), target $18.
- Reiterated Buy on (CAH), target $82.

Goldman Sachs:
- Added (FORM) to Conviction Buy List, target $50.

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

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
- (DBRN)/.31
- (FUL)/.33
- (JBL)/.34
- (LEN)/1.28
- (PAYX)/.34
- (RHAT)/.10
- (SRR)/.24
- (WOR)/.53

Upcoming Splits
- (FTBK) 3-for-2

Economic Releases
10:00 am EST
- Consumer Confidence for September is estimated to rise to 103.0 versus a reading of 99.6 in August.

BOTTOM LINE: Asian indices are mostly higher, boosted by technology shares in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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