Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

The Fokker Chronicles


Have a peaceful weekend.


World Markets:
European stocks were off their lows today as the Spain bombings earlier on had weighed on the markets but has rebounded heading in the Wall Street open. The Spanish IBEX was clearly the weakest index losing over 1% halfway through is session. Asian stocks had difficult sessions today as the Japanese Nikkei gave up 1.19% and the Hang Seng lost 0.71%. The South Korean Kospi lost nearly 2 1/2% over night following the impeachment of its President.

Lookout for the University of Michigan confidence report at 9:50amEDT with expectations for 94.50. Looking ahead to next week, earnings reports from Tenet Healthcare(THC:NYSE), Lehman Brothers(LEH:NYSE), Lennar(LEN:NYSE), KB Homes(KBH:NYSE), Bear Stearns(BSC:NYSE), Morgan Stanley(MWD:NYSE), and Adobe(ADBE:NASD) will all paint the tape.

Brokerage Chatter:
Morgan Stanley upgraded Dell Computer(DELL:NASD) to overweight form equal-weight. JP Morgan upped Dell Co.(DELL:NASD) to overweight from neutral. UBS lowered its estimates and price target for Ciena(CIEN:NASD). Banc of America initiated coverage of Columbia Sportswear(COLM:NASD) with a buy rating and $65 target. Banc of America upgrades Jabil(JBL:NYSE) to buy from neutral and raised its target to $33 from $28. First Albany upgraded Oracle(ORCL:NASD) to buy from neutral. Merrill Lynch upped Citrix Systems(CTXS:NASD) to buy from neutral. Thomas Weisel upgraded eSpeed(ESPD:NASD) to outperform from peer perform.

CIBC downgraded Petco(PETC:NASD) to sector perform from sector outperform. Merrill Lynch made some positive chatter on its long term view of Intl Bus Machines(IBM:NYSE). UBS raised its target on National Semi(NSM:NYSE) to $62 from $58. Prudential downgraded Altria(MO:NYSE) to neutral-weight from overweight. Legg Mason upped Deere(DE:NYSE) to buy from hold. Bear Stearns upped Halliburton(HAL:NYSE) to outperform from peer perform. UBS made some positive comments as well on HAL citing its liquidity worries have become overdone.

Financial Headlines:
Stories :

Bloomberg is reporting that Novartis AG said it might be interested in a merger with Aventis SA. (AVE:NYSE). AVE is currently fighting off a hostile takeover from Sanofi-Synthelabo SA.

The Wall Street Journal reported that Worldcom could soon announce that its accounting fraud might have reached $11 billion.

The Financial Times reported that US regulators might conduct a formal inquiry into El Paso's(EP:NYSE) and its sharp downward revision of its oil and gas reserves and delayed earnings report.

The Wall Street Journal reported that according to India government officials, Intl Bus. Machines(IBM:NYSE) plans on doubling its workforce in that country.

Oracle(ORCL:NASD) reported results in line with expectations but guided the street slightly lower.
Charter Semi(CHRT:NASD) raised its guidance.
Analogic Corporation(ALOG:NASD) beat by $0.25
Aetna(AET:NYSE) issued an upside preannouncement for its 1st quarter.
Petco(PETC:NASD) beat by $0.03 but came in a bit light on the revenues.

Around the world in 80 ticks:
The BBC reports that following yesterday morning's horrific coordinated attack on Madrid's transit system which left 198 fatalities and more than 1,400 wounded, Spanish Prime Minister Jose Maria Aznar claimed they would pursue those responsible. Spain has yet to rule out any one group at this point, al Qaeda, ETA, and even Abu Hafs al-Masri Brigades have been mentioned. All but ETA has claimed responsibility for the ruthless attacks.

According to the Washington Post, the U.S. government is stockpiling anthrax vaccine for nearly 25 million people.

BBC news reported that South Korea has impeached its President Roh Moo-Hyun. Parliament cited his actions for endorsing a pro-government party, allegations over corruption and deeming Hyun incompetent to serve as President.

Reuters reports that the U.S. Senate approved early this morning to a $2.36 trillion budget for next year.

Reuters reported yesterday that in a landslide vote, the U.S. House of Representatives approved of legislation that hikes the fines on TV and radio broadcasters for violating indecency levels. The Federal Communications Commission now has the authority to fine broadcasters as much as $500,000 per violation, up from $27,500 and must warn the individual before imposing the fine.

Have a terrific weekend.


< Previous
  • 1
Next >
position in orcl, ep, mo, ibm, hal
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos