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The Fokker Chronicles



World Markets:
Europe higher for the most part across the board. The French CAC40 was dragging a bit at unchanged however the German DAX was up 0.81%. Asian markets posted stronger gains again this morning. Japan's Nikkei 225 closed above 10,000 for the first time in a year posting a 1.72% gain. The Hang Seng posted a good day as well adding 0.96%. US markets were stronger this morning and held near its highs of the pre-market session.

Lookout for earnings reports tomorrow from notables such as Home Depot(HD:NYSE), Hewlett Packard(HPQ:NYSE), Intuit(INTU:NASD), PG&E(PCG:NYSE), and Network Appliance(NTAP).

Brokerage Chatter:
Goldman's Rick Sherlund is out positive on the software group this morning. Corning (GLW:NYSE) was started with a buy at Fulcrum. Ann Taylor(ANN:NYSE) was upped at UBS to buy from neutral. UBS also upgraded Waste Mgmt(WMI:NYSE) from neutral to buy and upped its price target from $23 to $30. Bank of America made some cautious comments on the semi equip stocks. Morgan Stanley cut its estimate in Analog Devices(ADI:NYSE), and also slashed its numbers for El Paso(EP:NYSE). UBS upgraded Vishay(VSH:NYSE) to buy from neutral. Protein Design(PDLI:NASD) was cut to market perform at SG Cowen. Merrill Lynch cut FirstEnergy(FE:NYSE) neutral from buy. Bank of America is out positive on Exxon Mobile(XOM:NYSE).

The Brokers received some negative press over the weekend from Barron's. The article cited concerns over the valuations associated with the brokerage firm stocks such as Merrill Lynch(MER:NYSE), Goldman Sachs(GS:NYSE), Lehman Brothers(LEH:NYSE), Bear Stearns(BSC:NYSE) and Morgan Stanley(MWD:NYSE).
Computer Sciences(CSC:NYSE) received positive mention in Barron's as well as Advanced Micro Devices(AMD:NYSE) citing the stock could be poised for further upside.

Financial Headlines:
Stories :
Vivendi Universal SA has said today that it will be once again looking for a buyer for its U.S. entertainment unit. The company has indicated that it might consider a joint venture or public offering of its entertainment unit.

Avery Dennison(AVY:NYSE) disclosed in its 8k filing that it had received a subpoena from the Dept of Justice.

EchoStar(DISH:NASD) authorized a $1 billion debt repurchase.

Integrated Defense(IDE:NYSE) announced this morning that it will be acquired by DRS Tech for $17.50 per share.

Crude prices have been treading heading higher in overseas markets following two Iraqi sabotaged fires over the weekend that ended deliveries of crude through Iraq's Kirkuk export pipeline.

Lowe's(LOW:NYSE) beat estimates by $0.06 and affirms their next quarter forecast.

Around the world in 80 ticks:
Reuters is citing a report released yesterday from a London based research organization claiming the United States to be a highly likely target for attacks in proportion to 9/11 over the next 12 months.

The BBC News has reported that West Virginia might be witnessing a copy cat killer mimicking the sniper attacks in Washington last year. Last week's victims were all shot dead outside of gas stations between last Sunday and Thursday.

Reuters citing Toronto Mayor Mel Lastman from Friday, announced that he predicted that a surge in births may be seen in nine months after the blackout that struck Canada but was sure to advise his citizens on safety and urged against using candles in any get-togethers in the dark.

Have a profitable day.

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