Tuesday, April 19, 2005

Wednesday Watch

Late-Night Headlines
Bloomberg:
- China's Foreign Minister Li Zhaoxing called for an end to anti-Japanese protests after three weekends of demonstrations over textbooks in Japan and gas drilling rights in areas disputed by the two countries.
- China's economy, which accounted for a 10th of global growth last year, expanded 9.5% in the first quarter as consumers spent more and exports surged.

Wall Street Journal:
- US Airways Group and America West Airlines Holdings are in advanced merger talks.

Financial Times:
- The volume of equity issued in Europe this year has reached its highest since 2000, outpacing the US for the first time in the period.
- Indonesia's state oil company PT Pertamina and Exxon Mobil will restart negotiations today over the development of Cepu oilfield in Java as the country seeks to boost oil output.

Commercial Times:
- Dell Inc., Hewlett-Packard and Lenovo Group will buy about $35 billion of products from Taiwan this year.

China Daily:
- China's electric and electronics goods makers may have to spend as much as $10 billion on processing and distribution to meet two new European Union rules restricting the use of harmful substances.

Business Standard:
- Fidelity Investments collected $342 million for its first mutual fund in India.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on CAKE, INTC, YHOO, GILD and JNPR.

Night Trading
Asian Indices are -.75% to +.50% on average.
S&P 500 indicated +.22%.
NASDAQ 100 indicated +.74%.

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule

Earnings of Note
Company/EPS Estimate
MO/1.23
ALL/1.49
BK/.49
BLS/.38
CAI/.69
COF/1.93
CAT/1.36
EBAY/.18
FFIV/.29
F/.38
GD/1.53
HON/.40
HET/.94
JPM/.69
LIN/-.10
MERQ/.32
MOT/.19
QCOM/.27
RYL/1.23
STJ/.33
TK/1.60
UTX/1.25
VRSN/.21
WYE/.77

Splits
LUFK 2-for-1

Economic Releases
8:30 EST
- The Consumer Price Index for March is estimated to rise .5% versus a .4% increase in February.
- The CPI Ex Food & Energy for March is estimated to rise .2% versus a .3% increase in February.

2:00 EST
- Fed's Beige Book

BOTTOM LINE: Asian indices are mostly higher, spurred by gains in technology stocks in the region. I expect US equities to open higher on earnings optimsim. The Portfolio is 125% net long heading into tomorrow.

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