The Fokker Chronicles
Mixed picture in Europe so far today. The Japanese Nikkei lost 2.86% today, the biggest one day drop in two months. Nissan and Canon both major recipients of overseas business fell 2.3% and 4.1% respectively following yesterday's weakness in the US markets. Meanwhile the Hang Seng gained 0.68%. US equity futures made up some losses leading into the open of trading today that followed economic results that showed softening claims numbers. Click here to get more on the economic data released earlier from Brian Reynolds.
Natural Gas inventory numbers at 10:30amEDT. Lookout for Oracle(ORCL:NASD) earnings before the open tomorrow morning.
Lehman Brothers made some positive comments on Motorola(MOT:NYSE) and said its current quarter is on track to meet or exceed 3rd quarter estimates. Lucent Tech(LU:NYSE) was upgraded to neutral from underperform at SoundView. Adobe Systems(ADBE:NASD) was upped to buy from neutral.
Cypress(CY:NYSE) was upped at Solomon Brothers to outperform from in-line. Fairchild Semi(FCS:NYSE) was upped to outperform from in-line at Solomon. Solly kept busy by cutting Intl Bus. Machines(IBM:NYSE) to underperform from in-line while Wyeth(WYE:NYSE) was upgraded to outperform from in-line.
UBS initiated Analog Devices(ADI:NYSE), Linear Tech(LLTC:NASD), Maxim Integrated Prod(MXIM:NASD) with buy ratings. BEA Systems(BEAS:NASD) was cut to underperform at RBC Capital Markets. Bear Stearns out of Europe upgraded Aventis(AVE:NYSE) to outperform from peer perform. JP Morgan downgraded Safeway(SWY:NYSE) to neutral from overweight. Credit Suisse First Boston raised its12-mo price target on Boise Cascade (BCC:NYSE) to $40 from $29. J.P. Morgan sees the 3rd quarter "on track" for eBAY(EBAY:NASD).
Bloomberg newswires report that Harrah's Ent.(HET:NYSE) announced that it will purchase Horseshoe Gaming for $916 million.
Sweden will go ahead with its decision on whether to join Europe's monetary union on Sunday, despite the murder of its Foreign Minister Anna Lindh.
Verity(VRTY:NASD) reported in line and guided their 2nd quarter 2004 in line with consensus.
TriQuint Semi(TQNT:NASD) raised its guidance after the bell yesterday.
Adobe Systems(ADBE:NASD) beat by $0.03, and guided higher for their 4th quarter.
Campbell Soup(CPB:NYSE) beat by $0.01
Around the world in 80 ticks:
9/11 remembered, for a good link providing the list of memorial ceremonies, click here to learn more about the what, when and where as NYC reflects on the 2yr anniversary of the attacks.
BBC reports that Swedish Foreign Minister Anna Lindh has died from stab wounds inflicted from an unknown assailant while she was shopping in a Stockholm department store without a body guard.
The LA Times is reporting this morning that senior US government experts concur with a similar finding by a London intelligence report released last week that determined al Qaeda, despite the efforts of the war on terror, commands a "steady stream of recruits and funding." In related news, Osama has released a new tape from the bin laden collection, shown on news channel Al-Jazeera yesterday, it was aired with an audiotape and the voice on it claimed to be bin Laden's top deputy and promised new attacks in the United States, calling the U.S./Middle East peace process a "road map to hell."
According to sources from a court in Spain, Reuters is reporting today that a Spanish judge has ordered Al Jazeera journalist Tayseer Alouni, best known for his interview with Osama bin Laden shortly after the September 11 attacks, to remain in jail without bail and will be tried on suspicion of links to al Qaeda. Alouni is alleged to have provided money and information to members affiliated with the al Qaeda terrorist network.
Have a peaceful day.
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