Company/Estimate
A/.31
AEOS/.77
BEAS/.08
DELL/.33
ISLE/.02
KSS/.42
PIXR/.24
TIF/.19
TGT/.38
URBN/.30
Splits
None of note.
Economic Data
None of note.
Recommendations
Goldman Sachs reiterated Attractive View of Lodging sector.
Late-Night News
Asian indices are mixed as strength in China is offset by weakness in Japan. China isn't likely to revalue the yuan in the short-term because the country's trade is relatively balanced this year, the official Xinhua news agency reported. China's jet fighters approached Taiwan President Chen Shui-bian's plane on Sept. 27 on his way to the Penghu island, delaying the trip by 15 minutes, the United Daily News said. International Paper of the U.S. teamed up with Beijing Sanyuan Foods to expand sales of pasteurized milk in China's capital, the China Daily reported. News Corp.'s board could meet next week to approve its proposed shareholder rights plan and thwart a potential takeover from John Malone's Liberty Media, the Financial Times reported. Singapore's trade with the U.S. rose 10% between January and July following a free trade agreement signed between the two countries, the Straits Times reported. TJX Cos. and PC Connection are among Internet retailers that are switching to a streamlined checkout process to boost sales, the Wall Street Journal reported. Oracle said PeopleSoft plans to reject its $8.8 billion takeover bid, Bloomberg reported. UPS, American Airlines and other air-cargo carriers would have to expand background checks and screening under a U.S. plan that would cost the companies an estimated $75.8 million a year, Bloomberg said. The U.S. government lowered the terrorism alert level for financial sites in NY City, Washington and northern New Jersey, because those buildings are now "hardened," or sufficiently protected, Bloomberg said. BearingPoint said Chairman and CEO Blazer resigned, effective today, Bloomberg reported. President Bush named White House counsel Alberto Gonzales to be U.S. attorney general and help lead the war on terrorism. Gonzales would be the first Hispanic to serve as the nation's top law enforcement official, Bloomberg said. Australia's economy added twice as many jobs in October as economists expected, pushing the unemployment rate to 5.3%, the lowest since 1978, as increased profits prompted companies to hire workers to meet rising demand, Bloomberg reported. Jones Apparel Group is near an agreement to buy Barneys New York, the NY Times reported. Palestinian leader Yasser Arafat has died in a military hospital in Paris at age 75, Fox News reported. China's stock indices gained for a third day after the China Securities Journal reported the country may allow banks to set up fund management units this year. Microsoft's new search engine, designed to grab market share from Google, will include a "near me" button that helps users find sites for a given location and a feature that answers questions such as "What is the capital of Turkey?", Bloomberg reported.
Late-Night Trading
Asian Indices are -.75% to +.75% on average.
S&P 500 indicated -.09%.
NASDAQ 100 indicated -.07%
BOTTOM LINE: I expect U.S. equities to open mixed in the morning as the major indices continue to consolidate recent gains. A follow-through move higher in energy prices and apprehension over Dell's earnings report could send shares modestly lower by day's end. The Portfolio is 100% net long heading into tomorrow.