Bloomberg:
- A judge in Argentina issued an international arrest warrant for Iran’s former president Akbar Hashemi Rafsanjani over the 1994 bombing of a Jewish center in Buenos Aires.
- Britain will be a target of terrorists “for a generation” as it faces a “serious, growing” and “sustained” threat of attack, citing MI5 director-general Eliza Manningham-Buller.
- Boeing(BA) won an order to replace the fleet of helicopters that rescue downed US pilots, a program that may be worth as much as $15 billion.
- Genentech(DNA) agreed to acquire Tanox Inc., a collaborator on the asthma treatment Xolair, for $919 million.
- Activist investor Bill Ackman, of NY-based hedge fund Pershing Square Capital Management LP, said he purchased an 11% stake in Borders Group(BGP).
- Democrats are taking a go-slow approach to regulating hedge funds and may consider changes sought by Wall Street to the Sarbanes-Oxley corporate-accounting law, reflecting the priorities of financial firms that gave a majority of their donations to Democrats. In the first half of the year, employees of the 100 largest hedge funds and 50 biggest buyout firms contributed $7.4 million, and Democrats received $5 million of that money, Federal Election Commission records show.
- Chevron Corp.(CVX) said it made a “significant” natural gas discovery off Western Australia.
- China’s October producer prices grew at the slowest pace since May as increases in the costs of oil and minerals including zinc and copper slowed.
- The yen rose from a record low against the euro as Bank of Japan Governor Toshihiko Fukui said interest-rate increases will help extend the economic recovery.
Dow Jones:
- DaimlerChrysler AG(DCX) is pressuring Chrysler Group, its US operation, to ready a turnaround plan by next month aimed at reviving earnings.
Financial Times:
- Clear Channel Communications(CCU) may be sold to a group of private equity buyers as early as next week.
- Archer Daniels Midland(ADM) wants renewable energy resources to be treated the same as fossil fuels by governments and regulators, citing CEO Woertz.
Economic Daily:
- Sony(SNE) will buy flat panels from AU Optronics(AUO) and Chi Mei Optoelectronics next year for televisions measuring 40-inches and smaller.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (URBN), target $29.
Business Week:
- Goodrich(GR), the world’s largest supplier of aircraft landing gear that’s benefiting from a rebound in airline orders, could become a takeover target, citing Jeffrey Kleintop at PNC Wealth Management, which owns shares.
- Hovnanian Enterprises(HOV) may rise as much as 80% after the share price was cut in half this year as homebuilder shares declined, citing Schaeffer’s Investment Research CEO Bernie Schaeffer, who owns shares.
Night Trading
Asian Indices are -.25% to +.25% on average.
S&P 500 indicated -.04%.
NASDAQ 100 indicated +.01%.
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
- (CHC)/.41
- (HEW)/.26
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian indices are mixed as gains in energy stocks offset losses in automaker shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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