Thursday, October 25, 2007

Friday Watch

Late-Night Headlines
- Goldman Sachs Group(GS), Morgan Stanley(MS) and US futures exchanges are fighting efforts by Congress to give two regulators authority over the $4.2 trillion commodities market, a move they say will drive trading overseas.
- China’s refined copper imports, the world’s biggest, may plunge next year as domestic output increases, Beijing Antaike Information Development said. Imports may decline 43% to 800,000 metric tons from an estimated 1.4 million tons this year.
- Japan’s consumer prices fell for an eighth month in September, a sign that deflation lingers in the world’s second-largest economy.
- Honda Motor(HMC), Japan’s second-largest automaker, gained the most in two months after it raised its full-year profit forecast on a weaker yen and higher sales of fuel-efficient models.
- Microsoft Corp.(MSFT) said first-quarter earnings rose 23%, exceeding analysts’ estimates, and raised its forecasts for this year on sales of the new versions of Windows and the “Halo” video game. The stock surged 11.2% in after-hours trading.
- Sony Corp., the world’s second-largest consumer electronics maker, rose the most in 21 months on the Tokyo Stock Exchange as sales of Cyber-shot cameras boosted earnings to the highest in three quarters.

Wall Street Journal:
- Facebook Looks to Hedge Funds, Private Equity for More Cash.

Late Buy/Sell Recommendations

- Reiterated Buy on (EL), raised target to $52.
- Reiterated Buy on (BMY), target $35.

Morgan Stanley:
- Reiterated Outperform on (CELG), target $73.

Raymond James:
- Raised (AKAM) to Strong Buy, target $46.

Night Trading
Asian Indices are -.50% to +.75% on average.
S&P 500 futures -.05%.
NASDAQ 100 futures +.17%.

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
- (ALE)/.62
- (ALEX)/1.00
- (BHI)/1.22
- (BC)/.12
- (CRDC)/-.34
- (CVH)/1.08
- (FO)/1.29
- (HMA)/.06
- (IR)/.88
- (TDW)/1.55
- (WMI)/.59
- (IDXX)/.79
- (ITT)/.89
- (CFC)/-1.34
- (LZ)/.93
- (EXC)/1.21
- (HTV)/.13
- (HCR)/.66

Upcoming Splits
- (MNRK) 6-for-5

Economic Releases
10:00 am EST

- The Final Univ. of Mich. Consumer Confidence reading for October is estimated at 82.0 versus 82.0 in September.

Other Potential Market Movers
- The Fed’s Mishkin speaking and (MSA) investors’ day could also impact trading today.

BOTTOM LINE: Asian indices are higher, boosted by technology and commodity stocks in the region. I expect US equities to open modestly higher and to maintain gains into the afternoon. The Portfolio is 50% net long heading into the day.

No comments: