Bloomberg:
- Japan’s industrial production probably fell the most in almost three years in January, signaling growth may slow in the world’s second-largest economy.
- China Agri-Industries Holdings Ltd., the nation’s largest rice exporter, will invest $359 million to expand fuel ethanol production capacity 600% over two years as the government promotes cleaner energy sources.
- Honda Motor(HMC) raised production to a record for January as its sold more Civic and Fit compact cars in North America. Toyota Motor(TM) and Honda are increasing their production in the US, as their fuel-efficient compact cars win sales from General Motors(GM).
- China’s stocks fell 5% as some investors judged a key index’s climb to an all-time high was excessive relative to earnings potential. Citic Securities, the nation’s biggest publicly traded brokerage, fell 8%. However, the stock is almost 600% higher over the last 12 months.
Chronicle of Philanthropy:
- Warren Buffett’s $43.5 billion donation to the Bill & Melinda Gates Foundation last year led the largest-ever field of Americans giving $100 million or more to charity.
Economic Daily News:
- Acer Inc. expects personal-computer sales to rise as much as 40% this year from 2006, citing Chairman JT Wang. Low inventory levels at the company’s retail outlets and the introduction of Windows Vista, Microsoft’s(MSFT) new operating system, will help boost sales, the repot said, citing Wang.
South China Morning Post:
- EBay Inc.(EBAY) will invest $105 million for a 33% stake in a Chinese electronic payment venture.
Shanghai Securities News:
- PetroChina Daqing Oilfield Co., a unit of the nation’s largest oil company, discovered as much as 1 billion tons of oil reserves in Hailaer in northern China. The Tamuchage field in Inner Mongolia Autonomous Region may have 800 million tons to 1 billion tons of oil reserves.
Late Buy/Sell Recommendations
Citigroup:
- Upgraded (MCO) to Buy, target $77.
- Reiterated Buy on (WLP), target $99.
- Reiterated Buy on (ERTS), target $64.
- Reiterated Buy on (HON), target $52.
Night Trading
Asian Indices are -1.0% to -.50% on average.
S&P 500 indicated -.06%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (ADSK)/.46
- (AZO)/1.45
- (BBI)/.10
- (CVC)/-.05
- (CBS)/.47
- (DECK)/1.33
- (DWA)/-.44
- (DYN)/-.05
- (EP)/.19
- (FD)/1.55
- (FTO)/.58
- (HANS)/.33
- (HET)/.64
- (HNZ)/.62
- (HGSI)/-.40
- (KCP)/.39
- (OSG)/2.41
- (PZZA)/.46
- (PSA)/.08
- (NX)/.47
- (RSH)/.43
- (RRI)/-.20
- (RDC)/.70
- (RRD)/.65
- (SAFM)/-.11
- (TGT)/1.27
- (THC)/-.04
- (TXU)/1.20
- (VNO)/1.18
- (WPI)/.29
- (WCI)/-1.11
- (WYNN)/.46
Upcoming Splits
- (RYAAY) 2-for-1
- (MWE) 2-for-1ncal
Economic Releases
8:30 am EST
- Durable Goods Orders for January are estimated to fall -3.0% versus a 2.9% gain in December.
- Durables Ex Transportation for January are estimated to fall -.2% versus a 2.7% gain in December.
10:00 am EST
- Consumer Confidence for February is estimated to fall to 108.5 versus 110.3 in January.
- Existing Home Sales for January are estimated to rise to 6.24M versus 6.22M in December.
BOTTOM LINE: Asian indices are lower, weighed down by financial shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.
No comments:
Post a Comment