Monday, December 12, 2005

Tuesday Watch

Late-Night Headlines
Bloomberg:
- ConocoPhillips(COP), agreed to buy Burlington Resources(BR) for $35.6 billion in cash and stock.
- California Governor Schwarzenegger refused to stop tomorrow’s execution of Stanley Williams, co-founder of the Crips gang in LA and convicted murderer who won the support of celebrities. Schwarzenegger said William’s refusal to apologize for the murders, his unwillingness to help police dissect the structures of street gangs, as well as a plan he had to blow up a jail transportation bus and escape during his trial, raised doubt about his redemption.
- Microsoft sod 39% of its new Xbox game console in the first two days its was available in Japan, according to market researcher Enterbrain Inc.

Financial Times:
- Kuwait may allow international oil companies access to its oilfields by the end of 2006 to meet its oil production targets.

AP:
- Osama bin Laden may no longer be directing operations of his al-Qaeda terrorist organization, citing remarks made by Ryan Crocker, the US ambassador to Pakistan.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on AMP, CRL, DNA and EBAY.

Night Trading
Asian Indices are -.50% to unch. on average.
S&P 500 indicated unch.
NASDAQ 100 indicated +.03%.

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
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
ADCT/.17
BBY/.30
EASI/.56
LEH/2.64

Upcoming Splits
- None of note

Economic Releases
8:30 am EST
- Advance Retail Sales for November are estimated to rise .4% versus a .1% decline in October.
- Retail Sales Less Autos for November are estimated to fall .1% versus a .9% increase in October.

10:00 am EST
- Business Inventories for October are estimated to rise .5% versus a .5% increase in September.

2:15 pm EST
- The FOMC is expected to raise the benchmark interest rate 25 basis points to 4.25%.

BOTTOM LINE: Asian indices are mostly lower on rising apprehension ahead of the US Fed announcement. I expect US equities to open mixed and to rally modestly into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.

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