Monday Watch

Earnings Announcements
Company/Estimates
CPB/.57
CHK/.35
CE/.20
LOW/.50
NOVL/.03
SNPS/.31
WIND/-.03
ZRAN/.08

Splits
MSCC 2-for1, MICC 4-for-1

Economic Data
None of note. Greenspan is speaking at 9:30 EST at the Credit Union National Association Government Affairs Office in Washington.

Weekend News
The U.K. government will recruit 1,000 new staff members for the MI5 intelligence agency to fight terrorism, taking its numbers back to Cold War levels. DaimlerChrysler and Volkswagen plan to renew efforts to sell diesel-engine cars in the U.S., the Washington Post reported. Yahoo! CEO Semel says the company's future is almost exclusively on the Internet and not in partnerships with movie studios, record label or t.v. networks, the NY Times said. Kodak will launch an online photo service for camera phones, the AP said. Nokia has made the first mobile-phone handset that can access the Internet using short range wireless technology, called Wi-Fi, rather than rely on a cellular network, the Wall Street Journal said. Nokia also says sales of its N-Gage products are below expectations, the Financial Times reports. Russia's government said it wants state-run OAO Transneft to build a crude oil pipeline to the Pacific coast so that sales can be opened to all buyers, including the U.S. and Japan. Tokyo-Mitsubishi says the U.S. dollar's drop versus the Yen may have ended. Prices of U.S. hot-rolled steel are up 66% since June, Meps Intl. said. Pakistan is planning a military offensive in the coming weeks to expel al-Qaeda and Taliban forces along its Afghan border, the NY Times reported. According to Tradesports.com, there is now a 62% chance of catching Bin Laden this year, up 16 percentage points today.

Weekend Recommendations
Guests on "Forbes on Fox" made positive comments on KFT and CVS. They also speculated that PCS, BEAS and VRTS could all be takeover targets. On "Cashin' In", PNX, SPI, ADM and UTX were talked up, while TASR was panned. Barron's had positive comments on MSFT and the possibility of it announcing a large dividend/buyback. TGT was also mentioned positively. It had negative analysis on TIVO, NFLX, AMAT, GTW and the NASDAQ. Merrill Lynch is recommending investors increase their exposure to Japanese stocks, Bloomberg reported.

Late-Night Trading
Asian indices are down modestly with the exception of the Nikkei, which is up 1.4%.
S&P 500 indicated +.16%.
NASDAQ indicated +.24%.

BOTTOM LINE: I am not sure how much the capture of Bin Laden would help U.S. stocks. My gut feeling is that a rally of 1-2% on the news would occur, followed by profit-taking, leaving the indices up modestly.