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The Fokker Chronicles



World Markets:
Europe was much firmer this morning following better earnings last night. The London FTSE was the big winner adding 1.53% on its session thus far. The Japanese Nikkei added 0.72% while the Hang Seng gave up some ground today. Meanwhile, the Bovespa in Brazil was trading down nearly 3% ahead of the U.S. open of trading.

Lookout for the release of the Leading Indicators report at 10amEDT and the Philly Fed at 12pmEDT. The Semi book-to-bill will be out after the close today. CPI data will be released tomorrow morning. Earnings reports to keep on eye on after the bell today include Hewlett Packard(HPQ:NYSE) and BEA Systems(BEAS:NASD).

Brokerage Chatter:

Bernstein downgraded EchoStar(DISH:NASD) to market perform from outperform and cut its target to $41 from $46. AG Edwards downgraded Franklin Resources(BEN:NYSE) to hold from buy. UBS raised Walt Disney(DIS:NYSE) price target to $30 from $23. Thomas Weisel raised Broadcom(BRCM:NASD) estimates. Schwab Soundview made Motorola(MOT:NYSE) its Top Pick in the wireless group, raised its fiscal year 2003-04 estimates, and took up its price target to $22 from $19. Merrill Lynch upgraded Nippon Telegraph(NTT:NYSE) to buy from neutral. JP Morgan upgraded Centex(CTX:NYSE) to overweight from neutral. Prudential upped KLA-Tencor(KLAC:NASD) to overweight from neutral-weight. Wells Fargo raised its price target for OmniVision Technologies(OVTI:NASD) to $40 from $35.

Financial Headlines:
Stories :

Digitimes reported from the Intel Developer Forum yesterday that CEO Craig Barrett announced the new Nocona server processors will be rolled out in the second quarter of this year, much sooner than many had expected.

According to Reuters, Dell Co(DELL:NASD) stated it will not use AMD chips because of a lack of interest from its corporate customers.

The Financial Times reports that in an email to his staff, Walt Disney(DIS:NYSE) CEO Eisner has defended the direction of the company.

The New York Post reports that Archipelago Holdings LLC is planning on raising about $200 million in an initial public offering this May.

Applied Materials(AMAT:NASD) has reported EPS and revenue of $0.12 on $1.56 billion, better than the Street consensus of $0.08 on $1.315 billion. Orders were said to have increased by 32% quarter over quarter.
Walmart(WMT:NYSE) beat by 3 cents and guided its 4th quarter to the higher end of its consensus range.
Nextel(NXTL:NASD) beat by $0.08 and upped its 2004 EPS above estimates.
Intuit(INTU:NASD) beat by 7 cents.
Broadcom(BRCM:NASD) raised its revenue outlook from an increase of 10% quarter over quarter to an increase of 16-18% over the same period.
EMC Corp(EMC:NYSE) said it sees tech spending picking up and reaffirmed its outlook.
RadioShack(RSH:NYSE) beat by $0.05.
OmniVision Technologies(OVTI:NASD) beat by 7 cents and guided its next quarter estimates higher.

Around the world in 80 ticks:
Reuters has reported that two U.S. soldiers were killed early this morning by a roadside bomb in the city of Khalidiyah, Iraq.

Reuters reports that according to the U.N. Nuclear Agency, undeclared components compatible with advanced uranium centrifuge designs have been discovered in Iran. According to diplomats, this could be used to create nuclear weapons.

The National Guardsman that was accused of supplying intelligence to the enemy, Spc. Ryan Anderson, has been officially charged on three counts as of February 12th (although U.S. military personnel first released the information yesterday). According to the Associated Press, the first count includes Anderson's attempt to provide information about U.S. Army troop strength, movements, equipment, tactics and weapons systems, vulnerabilities of U.S. weapons systems and equipment as well as ways in which to kill other U.S. soldiers; and that was just one of the three counts. Uniform Military Code cites this form of treason as punishable by death.

According to Retuers, the French Foreign Minister, Dominique de Villepin, has proposed today that they would be open to sending international peacekeepers to the Gaza Strip in order to assist in the creation of an independent Palestinian state. In related news, the Washington Times reports that Hamas and other militant groups are in discussion to set up an "emergency" government that would assume control of the Gaza Strip should an Israeli evacuation take place.

The University of Colorado head football coach has been put on a paid administrative leave following comments he made yesterday about a raped player. The coach was put on leave after he commented that she had not earned the respect of her teammates because she was a lousy kicker.

The Associated Press reporting on an internal FBI report that had been kept under wraps for the last three years has detailed many instances in which agents have been fired. These agents were released due to cases of egregious misconduct and crimes, including drug trafficking, attempted murder, theft, misuse of informants and consorting with prostitutes.

Have a great day.


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