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The Fokker Chronicles



World Markets:
European markets were firmer today led by the CAC40 which was gaining 0.90% halfway through its session. The Japanese Nikkei lost just over 1% while the Hang Seng added 0.33% on the day. The US equities were poised for a lower start today.

Lookout after the bell for Linear Tech(LLTC:NASD) earnings. Tomorrow will deliver reports from Delta(DAL:NYSE), Apple Co.(AAPL:NASD), Genetech(DNA:NYSE), Intel(INTC:NASD), Qlogic(QLGC:NASD), Raymond James Financial(RJF:NYSE), Teradyne(TER:NYSE), and Yahoo!(YHOO:NASD).

Brokerage Chatter:

SunTrust (STI:NYSE) was cut to underweight from equal weight at Morgan Stanley. RW Baird upgraded Ingersoll-Rand(IR:NYSE) to outperform from neutral and raised its price target to $76 from $64. UBS downgraded Campbell Soup(CPB:NYSE) to reduce from neutral. Alltel (AT:NYSE) was downgraded at JP Morgan to neutral from overweight. Soundview Schwab downgraded AmerisourceBergen(ABC:NYSE) to neutral from outperform and cut its target from $70 to $62. Legg Mason upgraded Wrigley(WWY:NYSE) to buy from hold. RBC Capital upgraded Fair Isaac(FIC:NYSE) to outperform from sector perform. Merrill Lynch made News Corp(NWS:NYSE) as its Focus 1 stock and raised its target to $47 from $40. Morgan Stanley raised its 2004 capex forecast on its Semiconductor Capital Equipment group in a preview of the Semi Equip earnings.

Bank of America upgraded Toys R Us(TOY:NYSE) to neutral from sell. Smith Barney replaced DoubleClick(DCLK:NASD) with Westwood One(WON:NYSE) on its Focus List. JP Morgan downgraded Research In Motion(RIMM:NASD) to neutral from overweight. Lehman Brothers raised its view of the U.S. wireless services sector to positive from neutral. Thomas Weisel upped Apple Computer(AAPL:NASD) to outperform from peer perform and raised its 2004-05 revenue and EPS estimates above consensus. Smith Barney initiated coverage on Motorola(MOT:NYSE) with a buy and $22 price target. Merrill Lynch downgraded Andrx(ADRX:NASD) to neutral from buy. Morgan Stanley upgraded SanDisk(SNDK:NASD) to equal weight from underweight. Deutsche Bank upgraded Fox Comm(FOX:NYSE) to buy from hold .

Financial Headlines:
Stories :
Reuters reported that US will open the Iraqi contact bidding to countries including Germany and France.

The New York Times reported that CNBC has decided to impose tough trading restrictions on all employees ranging from news staff and their immediate families to those that work behind the scenes in makeup. Employees and their families will no longer be able to own individual shares of stock other than that of its employers and that which they already own.

According to Bloomberg newswires, Toronto Dominion Bank(TD:NYSE) is said to be in final negotiations to merge its TD Waterhouse unit with ETrade(ET:NYSE).

The New York Times reported that a Wal-Mart(WMT:NYSE) audit suggested it violated labor laws.

Reuters reported yesterday that a Paris court found Morgan Stanley(MWD:NYSE) guilty of defaming luxury goods maker LVMH in a landmark ruling which is expected to heavily impact the face of investment research. LVMH was awarded $38 million dollars in compensation following research published by Morgan that made false accusations in regard to its debt position, credit rating and currency exposure. LVMH also claimed that the investment bank attempted to manipulate its stock price.

The Los Angeles Times reports today that Microsoft(MSFT:NASD) has announced that following customer complaints, it would extend phone and security support for its Win 98, 98 SE, and ME OSs through Jun 30, 2006 instead of the original endpoint landing on this coming Friday.

The Wall Street Journal reports that Google introduced some new search options yesterday that would include the ability to search for area codes, flight info, Vehicle ID#'s(VINs), and US Postal tracking numbers

Genetech(DNA:NYSE) announced that its breast cancer drug Herceptin, has failed to produce similar benefits in its lung trial for lung cancer.

SAP AG(SAP:NYSE) preannounced its fourth quarter negatively citing software revenues will decline 3 percent from a year ago.
State Street(STT:NYSE) beat by 6 pennies.
Accenture(ACN:NYSE) missed by $0.03.
Storage Tech(STK:NYSE) guided its 4th quarter higher by 5 pennies.

Around the world in 80 ticks:
According to the Washington Post, a Pentagon funded study concluded that if a U.S. city was hit with a well-executed "dirty bomb" attack, hundreds of people could potentially be exposed to lethal amounts of radiation, sharply raising the estimates of the human toll from such an attack.

Reuters is reporting today that according to Hong Kong Cable Television, a waitress in China has been confirmed to have the SARS virus.

Reuters reports that a 56-page report written by Jeffrey Record, a veteran defense expert who works as a visiting research professor at the Strategic Studies Institute of the Army War College, concluded that the Iraqi invasion was "an unnecessary preventive war of choice" which according to his study, has robbed resources and attention from the more crucial fight against Al Qaeda.

Britain's worst mass murderer, family doctor Harold Shipman also nicknamed "Dr. Death", was found hanging in his prison cell by a noose made out of a bed sheet.

Have a profitable day.


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