Tuesday, November 06, 2007

Wednesday Watch

Late-Night Headlines
Wall Street Journal:

- Europe, UK Expected To Hold Key Rates Steady.

- Going gaga over Google(GOOG) mobile.

- Being a contrarian takes guts, like buying Citigroup stock.

- Google’s(GOOG) New Cell-Phone Universe. Its Open Handset Alliance, including Intel, Motorola, and T-Mobile, could threaten Symbian and Microsoft – and redouble investments in mobile software.
- Online Brokers Sidestep Subprime Woes.
- Venture Capital’s Clean Dreams for China.
- Is Hydrogen the Answer to Our Future Transport Needs?

- Hunting for the Hottest Stocks? Look at Debt Loads.

- Social network Facebook unveiled a new advertising system on Tuesday that will let companies introduce ads into the user pages of its 50 million member, and launch dedicated pages on the site for their brands.

Late Buy/Sell Recommendations

- Reiterated Buy on (HOLX), raised target to $74.
- Upgraded (MCCC) to Buy, target $11.
- Upgraded (ALL) to Buy, target $66.
- Reiterated Buy on (CBI), raised target to $66.

Night Trading
Asian Indices are +.50% to +1.75% on average.
S&P 500 futures -.34%.
NASDAQ 100 futures -.22%.

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
- (TWX)/.24
- (GM)/-.20
- (TWC)/.24
- (GM)/-.20
- (FWLT)/1.38
- (EXPE)/.37
- (AMT)/.07
- (HET)/1.01
- (FLR)/1.08
- (RL)/1.02
- (NWS/A)/.23
- (WBMD)/.21
- (NTES)/.29
- (HLYS)/.22
- (AIG)/1.61
- (CTRP)/.18
- (TRLG)/.39
- (MNT)/.26
- (CSCO)/.36
- (FTO)/1.21
- (SLE)/.25
- (BZH)/3.20
- (FSLR)/.20
- (DVN)/1.40

Upcoming Splits
- (ATU) 2-for-1

Economic Releases
8:30 am EST

- Preliminary 3Q Non-farm Productivity is estimated to rise 3.2% versus a 2.6% gain in 2Q.
- Preliminary 3Q Unit Labor Costs are estimated to rise 1.0% versus a 1.4% gain in 2Q.

10:00 am EST
- Wholesale Inventories for September are estimated to rise .2% versus a .1% gain in August.

10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil drawdown of -1,500,000 barrels versus a -3,894,000 decline in the prior week. Gasoline supplies are expected to remain unch. versus a 1,295,000 barrel build the prior week. Distillate inventories are estimated to fall by -450,000 barrels versus an 808,000 barrel build the prior week. Finally, Refinery Utilization is expected to rise .6% versus a -.97% decline the prior week.

3:00 pm EST
- Consumer Credit for September is estimated to fall to $9.0 billion versus $12.2 billion in August.

Other Potential Market Movers
- The Fed’s Poole speaking, Fed’s Lockhart speaking, Fed’s Warsh speaking, Fed’s Lacker speaking, weekly MBA Mortgage Applications report, BOE Policy Meeting, (WM) Investor Day, (CCJ) analyst meeting, (EQIX) analyst meeting, (MKTX) Investor Day, (PHTN) analyst event, (STR) analyst meeting, (DNR) analyst meeting, (ABI) analyst meeting, Goldman Sachs Industrial Conference, CIBC Healthcare Conference, Goldman Sachs Software Retreat, Merrill Lynch Global Energy Conference, Global Crown Nanotech Conference, Pacific Growth Clean Tech & Industrial Growth Conference, Robert Baird Industrial Conference and Keefe Bruyette Woods Brokerage Conference 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 lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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