Earnings of Note
Company/Estimate
ACN/.28
AAPL/.18
HDI/.75
LRCX/.58
NYT/.32
NVLS/.38
SNDK/.34
QLGC/.36
PGR/1.69
Splits
MIK 2-for-1
Economic Data
None of note.
Recommendations
Goldman Sachs reiterated Outperform on FSH and GCI.
Late-Night News
Asian indices are mixed as strength in technology shares in the region is offsetting weakness from energy worries. North Korea is believed to have as many as nine nuclear weapons after producing plutonium for the past 20 years, the Chosun Ilbo reported. Coca-Cola began operating a $20 million bottling plant in northeastern China's Jilin province, aiming to take market share from rival PepsiCo, the China Daily reported. AU Optronics and four other flat-panel display makers in Taiwan may have cut their spending plans for next year by $5.9 billion compared with their forecasts given in the first half this year, the Economic Daily News said. Denny's(DNNY) customers are buying more of its higher-priced meals, which benefits operating margins, the Wall St. Journal reported. Afghanistan's successful presidential election is an example for the future of Iraq and shows democracy is able to flourish anywhere in the world, said U.S. Secretary of State Colin Powell. Iraqi insurgents in Fallujah are turning against the foreign guerillas who have been their allies in fighting U.S. troops and the interim government, the Washington Post reported. Lehman Brothers is moving beyond bond trading in a effort to become a top-tier investment bank without a merger, the Wall Street Journal reported. Australian Prime Minister Howard's victory in an election last weekend shows Australians endorse the government's plan to keep troops in Iraq, Foreign Minister Downer wrote in the Wall Street Journal. Microsoft has arranged with enough partners that it is positioned to achieve its goal of making the PC the command console for entertainment in the home, Bill Gates told the Wall Street Journal.
Late-Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.20%.
NASDAQ 100 indicated +.59%
BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning, led by technology shares. The fact that Iraqi insurgents are turning against foreign fighters in Iraq is a very positive development. The Portfolio is 100% net long heading into tomorrow.
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