Bloomberg:
- Blackstone Group LP agreed to sell eight midtown Manhattan buildings it will get in its $39 billion purchase of Equity Office Properties Trust to Macklowe Properties for about $7 billion.
- GlaxoSmithKline Plc(GSK) won clearance to sell the first weight-loss pill approved by US regulators without a doctor’s prescription.
- YouTube Inc. founders and investors may reap as much as $1.53 billion selling Google Inc.(GOOG) stock they received when the video-sharing Web site was bought last year.
- Japan’s bank lending failed to accelerate, adding to signs the economy may not be strong enough to withstand an increase in interest rates, the lowest among major economies.
- Copper futures in Shanghai fell as increased global stockpiles led to speculation that demand for the industrial metal is still lagging behind supply. Stockpiles of the metal, tracked by exchanges in London, New York and Shanghai, rose 1.2% to 272,990 tons yesterday, the highest in 32 months.
- China plans to plant 32 million acres of a tree that produces non-edible oil for making bio-diesel to help it cope with its energy needs, citing Cao Qingyao, a spokesman for the State Forestry Administration.
Financial News:
- Fortress Investment Group LLC has 25 times more interested subscribers to its IPO than available shares to sell. They NY-based firm plans to sell 34.3 million shares for $16.50 to $18.50 apiece, which values the company at about $7 billion.
- European governments are failing to impose tighter financial sanctions on Iran over its nuclear research program, citing Gregory Schulte, the US ambassador to the IAEA. Schulte said a range of non-military measures should be used to place pressure on Iran’s leadership.
Asahi:
- North Korea last month signed a memorandum promising to halt its nuclear reactor in return for energy and other humanitarian assistance. North Korean Vice Foreign Minister Kim Kye Gwan and US Assistant Secretary of State Christopher Hill made the agreement when they met in Berlin.
Late Buy/Sell Recommendations
Citigroup:
- Raised (SRX) to Buy, target $30.
Night Trading
Asian Indices are -1.0% to -.25% on average.
S&P 500 indicated -.12%.
NASDAQ 100 indicated -.15%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (AET)/.76
- (AYE)/.35
- (APPB)/.23
- (BEC)/.97
- (BMC)/.38
- (BRCM)/.31
- (ELY)/-.13
- (CCI)-/.08
- (DO)/1.38
- (DRIV)/1.46
- (ENER)/-.06
- (ESRX)/.97
- (IN)/.11
- (LVLT)/-.14
- (MAR)/.49
- (MFE)/.34
- (MGAM)/-.08
- (OO)/.13
- (PNRA)/.63
- (PEP)/.72
- (Q)/.08
- (RAI)/.85
- (TBL)/.58
- (TRB)/.61
- (BER)/.89
Upcoming Splits
- None of note
Economic Releases
8:30:
- Initial Jobless Claims for last week are estimated at 312K versus 307K the prior week.
- Continuing Claims are estimated at 2495K versus 2553K prior.
10:00:
- Wholesale Inventories for December are estimated to rise .5% versus a 1.3% increase in November.
BOTTOM LINE: Asian indices are lower, weighed down by commodity and utility shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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