Tuesday, March 27, 2007

Tuesday Watch

Late-Night Headlines
Bloomberg:
- Federal Reserve Bank of Chicago President Michael Moskow said the Fed’s next monetary policy actions depend on incoming data, dropping reference in speeches since August to “additional firming” in interest rates.
- Nanya Technology Co. and Realtek Semiconductor Corp. will supply parts for an Apple Inc.(AAPL) product that allows Internet downloads to be shown on televisions. Nanya will supply memory chips for the Apple TV, or iTV, scheduled for release last this year, while Realtek will supply audio-conversion and networking semiconductors.
- CBS Corp.(CBS) replaced Joel Hollander as CEO of CBS Radio, naming veteran executive Dan Mason to take his place.
- Republican presidential candidate Rudy Giuliani said he favors simplifying the US tax code by reducing rates and eliminating deductions, as well as getting rid of the death tax.
- MySpace.com, News Corp.’s(NWS/A) social-networking site, sued Sanford Wallace, who became known as the King of Spam in the 1990s, for setting up dummy profiles to direct MySpace users to Web sites such as Real-vegas-sins.com.
- BHP Billiton(BHP), the world’s largest miner, and rivals may spend more in 2007 on exploration than last year’s record $7.13 billion to search for metals in Asia and Africa. Miners will boost budgets again this year, after increasing expenditures 40% in 2006 from a year earlier, said Jason Goulden, director of corporate exploration at Metals Economics Group, a research company.
- Danny Bowman, vp for customer equipment at Sprint Nextel(S) says smart phones are Sprint’s fastest-growing business.
- Vinod Khosla, co-founder of Sun Microsystems and owner of venture capital firm Khosla Ventures, sees ethanol at a $1 a gallon within 10 years.

Wall Street Journal:
- New Century Financial Corp.(NEWC) may file for bankruptcy “imminently” after Barclays Plc and Morgan Stanley said they would take possession of loans previously used to secure financing, citing analysts.

AFP:
- Pakistani tribesmen in a region bordering Afghanistan signed an agreement with authorities to stop sheltering al-Qaeda and Taliban gunmen.

Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (NT), target $35.

Banc of America:
- Rated (FSLR) and (SPWR) Buy.

Night Trading
Asian Indices are -.25% to +.25% on average.
S&P 500 indicated +.01%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule

Earnings of Note
Company/EPS Estimate
- (ACN)/.42
- (GME)/.80
- (FUL)/.28
- (LEN)/.40
- (MKC)/.31

Upcoming Splits
- None of note

Economic Releases
10:00 am EST
- Consumer Confidence for March is estimated to fall to 108.5 versus 112.5 in February.

BOTTOM LINE: Asian indices are mixed as slight gains in energy shares are offsetting slight losses in technology 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.

No comments: