Bloomberg:
- Nintendo Co., the world’s biggest maker of handheld game players, said last fiscal year’s sales rose 90%, more than the company previously estimated, helped by demand for DS handheld game players.
- UK government officials in Tehran were today arranging the return to Britain of the 15 military personnel taken hostage by Iran on March 23.
- Sales of semiconductor equipment by companies such as Applied Materials(AMAT) and Tokyo Electron Ltd. rose 23% last year as memory chipmakers boosted spending to meet demand, a researcher said.
AFP:
- The European Union, the US and Russia have agreed on joint measures to better tackle global terrorism.
China Business News:
- Metro-Goldwyn-Mayer(MGM) has signed an agreement with China’s Diaoyutai State Guesthouse to set up a venture to develop hotels and holiday resorts, citing officials
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (MON), target raised to $67.
- Micron’s(MU) earnings underscore our positive view of the DRAM industry and notably industry fundamentals are turning faster than we had anticipated. Spot pricing for DRAM has been up for the past week, reflecting a work down in inventories from customers and their renewed willingness to build inventory ahead of the normal seasonal build in May. NAND pricing remains upward biased, with demand from a major US vendor recently driving ASP’s. Mircon’s peers in Korea have recently called for NAND undersupply in 2H07. We are increasing estimates for FY07 and FY08 to ($.14), $.22, from ($.17), $.13. We reiterate Buy, price target is raised to $17 from $15.50.
Night Trading
Asian Indices are -.50% to unch. on average.
S&P 500 indicated -.04%.
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
- (STZ)/.34
Upcoming Splits
- (CMI) 2-for-1
Economic Releases
10:00 am EST
- Initial Jobless Claims are estimated to rise to 315K versus 308K the prior week.
- Continuing Claims are estimated to fall to 2505K versus 2527K prior.
BOTTOM LINE: Asian indices are slightly lower, weighed down by commodity shares 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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