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The Fokker Chronicles



World Markets:
Europe was trading higher on the heels of the US markets, positive earnings guidance and better US jobs data. See Brian Reynolds economic commentary for more on that. The German DAX and Spanish IBEX were both trading over 1.30% ahead of the NYSE open today. Japanese stocks finished higher by 0.61% while the Hang had a quiet session and closed slightly lower on the day.

At 10amEDT, February Wholesale inventories get released. Holiday shortened session for bonds today which close at 2pmEDT while equity will hold down the fort till 4pmEDT.

New members of the Dow 30 take effect today. Condoleezza Rice will speak to the 9/11 commission this morning.

Opening day at Yankee Stadium today as the Yanks return home to face the Chicago White Sox. Javier Vazquez is set make his Yankee debut at 1pmEDT.

Brokerage Chatter:
Bernstein upgraded Allstate(ALL:NYSE) to outperform from market perform and raised its target to $58 from $48. Yahoo!(YHOO:NASD) was raised to positive from neutral at Susquehanna. Merrill Lynch increased its estimates on Research in Motion(RIMM:NASD). UBS upgraded Supervalu(SVU:NYSE) to buy from neutral and raised its target to $35 from $28. Lexmark(LXK:NYSE) had its estimates and price target raised at UBS. UBS continued its spending spree and also upgraded Lucent(LU:NYSE) to neutral from reduce and raised its target to $4.30 from $3.75. Bear Stearns was previewing the semis and took up numbers for Advanced Micro(AMD:NYSE) and cut them for Intel(INTC:NASD) for the 2nd quarter.

Financial Headlines:
Stories :

XM Satellite(XMSR:NASD) inked two new autodeals with Saab motors and Honda. Honda's deal will place the service in 400,000 vehicles while Saab begins its deal by offering the radio service with its 2005 sport utility vehicle.

CBS Marketwatch reported that a big victory in California was scored for the Altria's Phillip Morris(MO:NYSE) when an appeals court overturned a $22 million damage verdict.

General Electric(GE:NYSE) beat by $0.01.
Abbott Labs(ABT:NYSE) beat by $0.01.
Rite Aid(RAD:NYSE) beat by a penny.
Allstate(ALL:NYSE) guided its 1st quarter above consensus.
Dell Computer(DELL:NASD) increased its guidance for the 1st quarter.
Yahoo!(YHOO:NASD) beat by $0.02, ex items, and raised its full year guidance and approved a 2-for-1 stock split.
Research In Motion(RIMM:NASD) beat by $0.06.
Genentech(DNA:NYSE) beat by $0.07.
Aeropostale(ARO:NYSE) reported its comps up 14.2%
bebe stores(BEBE:NASD) reported March comps up 20.5%

Around the world in 80 ticks:
BBC news reports that in testimony from scientists investigating the Earth's threats from asteroids, Apollo astronaut Russell Schweckart called for new missions to develop means that would protect earth from collisions. The investigations were ramped up following February's near miss of signaling an impact alert. At the time, it should be noted that the asteroid's discovery, which apparently was thought to be on an impact course, was made just two days prior to notifying the general public and three days before it actually passed by the earth. The missions they proposed could launch by 2015.

In case you weren't aware, it's illegal to place-kick your neighbor's dog. The Associated Press reports that Chad Crawford, a 23 year old was charged with cruelty to animals, felony and vandalism yesterday and was free after he posted $25,000 bail. Gizmo, a 17 year old miniature Yorkshire terrier was discovered by his owners with three men and saw the incident take place.

Have a great day.


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