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

By

PrintPRINT


World Markets:
European stocks rose for a third day, led by SAP AG and Cap Gemini SA. The standout performers were the German DAX posting a whopping 2.26% climb and the CAC 40 trailing just behind gaining just over 2%. Japan's stock markets rose for a fourth day according to Bloomberg newswires. The Hang Seng however, gained 1.48% on its session. US markets were already gaining and look to add to yesterday's advance following the close of the pre-market trading session.

Heads-up:
Weekly data on U.S. oil inventories, which is typically released each Wednesday, will be delayed until tomorrow due to the Labor Day holiday. On the economic front, Construction Spending will be released at 10amEDT and the Fed's Beige Book is due out at 2pmEDT.

The Wall Street merry-go-round of conferences gets into to full swing today and to highlight a few, lookout for Lehman Brothers CEO Energy/Power Conference[Halliburton(HAL:NYSE), Cooper Cameron(CAM:NYSE), Exxon Mobile(XOM)]; Smith Barney Technology Conference[Motorola(MOT:NYSE), Texas Instruments(TXN:NYSE), Apple Co.(AAPL:NASD)]; Thomas Weisel Partners Healthcare Conference[Genzyme(GENZ:NASD), Bristol Myers(BMY:NYSE); Goldman Sachs Tenth Annual Global Retailing Conference[Staples(SPLS:NASD), Costco(COST:NASD)]; Prudential Securities Back-to-School Consumer Conference[Pepsico(PEP:NYSE), Altria(MO:NYSE); Credit Suisse First Boston Global Software Conference[Intl Business Mach.(IBM:NYSE); SG Cowen 31st Annual Fall Technology Conference[Applied Materials(AMAT:NASD), Cisco Systems(CSCO:NASD), Hewlett Packard(HPQ:NYSE).

Investor's Intelligence(II) released their bull/bear sentiment survey this morning. Bulls were 55.5 versus last weeks 56 and Bears were at 18.2 versus 19 in its prior reading. Those on the fence were 26.3 versus 25 last week.

Brokerage Chatter:
ConocoPhillips(COP:NYSE) cut to hold from buy at Prudential. Merrill Lynch Europe upped BP(BP:NYSE) to buy from neutral. Morgan Stanley(MWD:NYSE) was cut by Prudential to hold from buy. Wachovia upped Oracle(ORCL:NASD) and cut Americredit(ACF:NYSE). UBS upped Chiron(CHIR:NASD).

Morgan Stanley took down estimates slightly for General Electric(GE:NYSE) for 2003 and 2004 while JP Morgan upped GE to neutral favoring the Vivendi-NBC plan. Merrill Lynch raised numbers for Nokia(NOK:NYSE). Cowan cut numbers on both Sun Micro(SUNW:NASD) and Hewlett Packard(HPQ:NYSE). Credit Suisse First Boston upped the enterprise software space. to overweight from market weight. Siebel Systems(SEBL:NASD) was upped to outperform from neutral at First Boston.

Archer-Daniels(ADM:NYSE) was downgraded at First Boston to underperform from neutral. Deustche Bank made some negative chatter on Teradyne(TER:NYSE). *(Correction..Meanwhile, RF Micro Devices(RFMD:NASD) had their estimates raised by JP Morgan for the current quarter although remained cautious going forward for the company. American Air(AMR:NYSE) was added to Merrill Lynch's Focus 1 list.

Bank of America added Exxon Mobil (XOM:NYSE) to their fresh money list. This follows their limp upgrade to buy last week. Bear Stearns making positive comments on Shire Pharma(SHPGY:NASD) saying the market is grossly undervaluing its shares.

CSFB raised the enterprise software sector and price targets on Adobe(ADBE:NASD) and Intuit(INTU:NASD). Soundview was positive this morning on Hewlett Packard(HPQ:NYSE) and Intl Bus. Machines(IBM:NYSE).

Financial Headlines:
Stories :
Cisco Systems(CSCO:NASD) gave the market another reason to celebrate this morning after the Dow Jones newswires reported that they said August orders were better than expected.

Caremark(CMX:NYSE) announced it will buy AdvancePCS(ADVP:NASD) for $5.6 billion.

The Wall Street Journal reports that Wyeth(WYE:NYSE) has warned doctors that its Effexor antidepressant drug may be more likely to cause children to consider suicide.


Earnings:
HJ Heinz Co(HNZ:NYSE) reported in line with street estimates.
Qwest(Q:NYSE) beat by $0.02
Take-Two(TTWO:NASD) beat by a penny
Altera(ALTR:NASD) gave in-line guidance yesterday during its mid quarter update.

Around the world in 80 ticks:
In an effort to keep his name alive as much as himself physically, CNN reports that Arafat said yesterday that recent Israeli military action against Palestinian militants is the root cause behind what has killed the U.S.-backed Mideast peace plan.

The Associated Press reports that according to health experts and US intelligence officials, SARS could re-emerge this fall following colder temperatures in the Northern Hemisphere that could allow respiratory illnesses to spread.



Have a profitable day.

Fokker

position in csco
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.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE