Earnings of Note
Company/Estimate
ADVS/.02
AMZN/.17
AIG/.98
BRCM/.34
BEBE/.27
CAT/1.36
CLS/.08
CELG/.19
KO/.47
DECK/1.36
LLY/.68
GILD/.21
GOOG/.56
HYSL/.31
GDT/.60
IR/1.16
MSFT/.30
MCHP/.29
MYG/.18
KRB/.56
MRK/.71
MEDI/-0.21
MCK/.24
OSTK/-.20
PSFT/.14
TDW/.30
UPS/.72
XLNX/.23
Splits
None of note.
Economic Data
Initial Jobless Claims for last week estimated at 345K versus 352K the prior week.
Continuing Claims estimated at 2840K versus 2845K prior.
Leading Indicators for September estimated down .1% versus down .3% in August.
Philadelphia Fed. for October estimated at 18.0 versus 13.4 in September.
Recommendations
Goldman Sachs reiterated Outperform on ALL, FS, EBAY, HOT, MERQ, GLK, UTX and Underperform on OMI, RNWK, SLG, CVD, EK, AZR.
Late-Night News
Asian indices are mixed as strength in Taiwan is being offset by weakness in Japan. ID Biomedical said it is talking with the FDA about importing 1.2 million surplus doses of flu shots into the U.S. from Canada, Bloomberg reported. The U.K. will grant a U.S. request for 650 British troops to be redeployed in Iraq to an area south of Baghdad, the Financial Times reported. Donald Trump is planning to allow bondholders to take control of his Trump Hotels & Casino Resorts rather than take the private or seek investors, the Deal.com reported. STMicroelectronics NV, Europe's biggest semiconductor maker, said fourth-quarter sales may not rise from the third period, citing "uncertainty" in the market for mobile phones, Bloomberg said. Japanese exports accelerated in September, easing concern that record oil prices are curbing overseas demand for the nation's semiconductors, flat-panel screens and digital cameras, Bloomberg reported. Coca-Cola raised the average price of soft drinks last quarter, prompting consumers to switch to less costly PepsiCo drinks and store brands like Wal-Mart's Dr. Thunder, Bloomberg said.
Late-Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.28%
BOTTOM LINE: I expect U.S. equities to open higher in the morning, led by technology shares, on short-covering, bargain-hunting and better earnings reports. The Portfolio is 125% net long heading into tomorrow.
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