Monday, August 13, 2007

Tuesday Watch

Late-Night Headlines
- Citadel Limited Partnership added 208,891 shares of Google Inc.(GOOG) last quarter, making the stock its largest equity position worth $329,326,090.
- Starbucks Corp.(SBUX) will sell a new line of premium packaged coffees and add supermarket kiosks for its Seattle’s Best Coffee brand as the company seeks to expand sales beyond cafes.
- EMC Corp.’s(EMC) VMware software business raised $957 million in an IPO today, at the top end of the forecasted range.
- Demand for services in Japan unexpectedly rose in June as the best job prospects in nine years encouraged consumers to spend.

- Radian Group(RDN), which protects against defaults on mortgages and bonds, said it guaranteed collateralized debt obligations worth about $47 billion.
- Sales of bonds backed by European commercial property loans may reach a record this year, even if turmoil in global credit markets curbs the pace of issuance in the second half, Moody’s Investors Service said.
- China’s retail sales grew at the fastest pace in more than three years as rising stock prices and wages left consumers in the world’s most populous country with more money to spend.

Wall Street Journal:
- Best Buy(BBY) will begin selling Liz Claiborne(LIZ)-designed accessory bags for laptop computers, digital cameras, iPod music players and other products.
- Rule Change Ticks Off Some Traders.
- Quant quake shakes hedge-fund giants. Goldman, Renaissance, AQR see losses, but also sense opportunity.
- An electric car for the common man. One company is hoping to bring a $30,000, 80-mph battery-powered sedan to the market by 2009.

Late Buy/Sell Recommendations
- None of note

Night Trading

Asian Indices are -.50% to +.25% on average.
S&P 500 futures -.05%.
NASDAQ 100 futures -.03%

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Pre-market Stock Quote/Chart
Before the Bell CNBC Video(bottom right)
Global Commentary
WSJ Intl Markets Performance
Commodity Movers
Top 25 Stories

Top 20 Business Stories
Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
Daily Stock Events
Macro Calls
Rasmussen Business/Economy Polling
CNBC Guest Schedule

Earnings of Note
Company/EPS Estimate
- (A)/.48
- (AMAT)/.32
- (DDS)/.02
- (FIG)/.27
- (FOSL)/.19
- (HAR)/1.23
- (HD)/.73
- (LZB)/.02
- (LWAY)/.07
- (SCHS)/1.75
- (TJX)/.37
- (WMT)/.76

Upcoming Splits
- (SHEN) 3-for-1

Economic Releases
8:30 am EST

- The Trade Deficit for June is estimated to widen to -$61.0 billion versus -$60.0 billion in May.
- The Producer Price Index for July is estimated to rise .2% versus a -.2% decline in June.
- The PPI Ex Food & Energy for July is estimated to rise .2% versus a -.2% decline in June.

Other Potential Market Movers
- The weekly retail sales reports, (SE) Analyst Meeting, (ABI) Analyst Meeting, Keefe Bruyette & Woods Bank Conference, CSFB Communications Conference, Jeffries Industrial Conference and the UBS Engineering & Construction Conference could also impact trading today.

BOTTOM LINE: Asian indices are mostly lower, weighed down by financial stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.

No comments: