- Google Inc.(GOOG) will show advertising clips on YouTube to capitalize on the surging popularity of online video.
- Yahoo Japan Corp., operator of the nation’s most visited Web site, headed for its biggest gain in four months on the
- Ahmadinejad Fails Tehran Youth, ‘Impatient’ for Jobs, Own Homes.
Wall Street Journal:
- The online brokerage industry, which underwent a wave of consolidation after the bursting of the dot-com bubble, may be headed for another shakeout, with giants TD Ameritrade Holding Corp.(AMTD) and E*Trade Financial Corp.(ETFC) holding merger discussions.
- Insurance stocks have been hit hard by the mortgage-market tumult, and that has created opportunities for investors willing to overlook some dings and scratches in companies that should generate healthy profits over the long term.
- Sohu.com(SOHU) won the exclusive right to run advertisements by Olympic sponsors that use the games’ official logo of a running man.
- As the subprime mortgage crisis ripples through the broader housing market, the Bush administration is eyeing an often overlooked federal mortgage insurer to help low- and middle-income homeowners avoid foreclosure.
- Lawyers Gear Up Grand New Fees. Hourly Rates Increasingly Hit $1,000, Breaching a Level Once Seen as Taboo.
- Strong sales of robots to the US military propelled iRobot(IRBT) in the first half of the year, but the company is counting on sales of home robots to lead its way in the second half.
- Board-Sport Retailer Catches a Wave While Competitors Wipe Out.
- Gasoline demand growth in slowing, not long after prices hit a record $3.23 a gallon, but it may be too early to call it a trend.
- Hudson City Bancorp(HCBK) is the biggest winner in the S&P 500 the last month, up 21% and it’s a mortgage bank.
- 20 timeless money rules.
- 15 companies that will change the world.
- More states harness power of renewable energy.
- Gallup: Approval rating for Congress matches lowest ever recorded.
- Apple Inc.(AAPL) has succeeded in committing European mobile phone operators that want exclusively to sell its new iPhone to share parts of their revenues with the technology group.
- Experts are reassuring investors that US money market mutual funds, which have gathered about $165 billion in new assets over an eight-week period, are safe from the subprime mortgage problems that have caused steep losses at several hedge funds.
- Apartment landlord Archstone-Smith(ASN) said on Tuesday it shareholders approved a roughly $15.3 billion takeover offer from an entity controlled by Tishman Speyer fund and Lehman Brothers(LEH).
- Nymex Holdings(NMX) said on Tuesday it has held preliminary discussions about a potential merger, but there is no guarantee of a deal.
- GM(GM) sees steady growth in emerging markets revenue.
- CJ Corp. plans to acquire a
Late Buy/Sell Recommendations
- Reiterated Buy on (WLP), target $98.
- Reiterated Buy on (BJ), target $43.
- Reiterated Buy on (GPN), target $51.
- Reiterated By on (SPLS), target $31.
- Raised (DRI) to Strong Buy, target $48.50.
Asian Indices are unch. to +1.25% on average.
S&P 500 futures +.18%.
NASDAQ 100 futures unch.
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Earnings of Note
- (TXT) 2-for-1
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil drawdown of -2,750,000 barrels versus a -5,167,000 barrel decline the prior week. Gasoline supplies are expected to fall -800,000 barrels versus a -1,057,000 barrel decline the prior week. Distillate supplies are estimated to rise by 850,000 barrels versus a 153,000 barrel increase the prior week. Finally, refinery utilization is expected to rise .28% versus a .58% increase the prior week.
Other Potential Market Movers
- The EnerCom Oil & Gas Conference, (DE) Analyst Meeting and weekly MBA Mortgage Applications report could also impact trading today.