Late-Night Headlines
Bloomberg:
- Alliant Techsystems(ATK), the only supplier of solid-rocket motors for US space shuttles, will buy a unit of Canada’s MacDonald, Dettwiler and Associates Ltd. for $1.32 billion to build complete satellite systems.
- Bear Stearns Cos.’(BSC) James “Jimmy” Cayne handed over the CEO role to his hand-picked successor, staying on as chairman as the firm tries to recover from the collapse of the subprime mortgage market.
Wall Street Journal:
- McCain, Clinton Win Primary; White House Race Is Wide Open.
MarketWatch.com:
- Corporate insiders continue to be bullish on their firms’ stock.
BusinessWeek.com:
- Playing the 2008 Election.
- Colleges serve up job hopefuls as hotels’ hiring needs jump.
Reuters:
- Bear Stearns(BSC) may become takeover target amid unrest.
- Hynix sees DRAM rebound in 2008.
TimesOnline:
- Shell and Total are vying to develop a huge gasfield in what was Iraq’s most violent province as a source for exports to Europe.
Late Buy/Sell Recommendations
Citigroup:
- Maintain Buy on (FORM), target $44.
Lehman Brothers:
- Upgraded (AUO) to Overweight.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 futures +.26%.
NASDAQ 100 futures +.34%.
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)
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Commodity Movers
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Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
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Rasmussen Business/Economy Polling
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (MOS)/.73
- (SGR)/.49
- (RT)/-.20
- (VOXX)/.35
- (AA)/.34
- (RBN)/.67
- (ETP)/.49
- (TONS)/.95
- (WDFC)/.38
Upcoming Splits
- None of note
Economic Releases
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil inventory decline of 2,100,000 barrels versus a 4,056,000 barrel decline the prior week. Gasoline inventories are expected to rise by 1,600,000 barrels versus a 1,985,000 barrel rise the prior week. Distillate supplies are expected to rise by 1,000,000 barrels versus a 569,000 increase the prior week. Finally, Refinery Utilization is estimated to rise .1% versus a 1.29% gain the prior week.
Other Potential Market Movers
- The weekly MBA Mortgage Applications report, (VFC) analyst meeting, JPMorgan Healthcare Conference, Consumer Electronics Show, Needham Growth Conference and Citigroup Entertainment Conference could also impact trading today.