Submitted By Optiondragon
Pink Floyd – Breathe – Live 8 – 2005
From breifing.com
Media Digest 5/2/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the CEO of Microsoft (MSFT) says that the company is close to its next move in its attempted takeover of Yahoo! (YHOO).
Reuters reports that Wal-Mart (WMT) will use the Wii Fit from Nintendo to boost Mother’s Day sales.
Reuters writes that auto sales dropped 14% in April.
Reuters writes that Exxon (XOM) profits disappointed Wall St. despite the high price of oil.
Reuters writes that Craigslist has accused Ebay (EBAY) of hypocrisy in its suit against the classifieds company.
The Wall Street Journal writes that Microsoft (MSFT) will probably launch a hostile bid for Yahoo! (YHOO).
The Wall Street Journal reports that Sun (JAVA) swung to a loss and will cut about 2,000 jobs.
The Wall Street Journal writes that investors have become skeptical about BHP Billiton’s (BHP) bid for Rio TInto (RTP)
The Wall Street Journal reports that a deal for Google (GOOG) to handle Yahoo!’s search advertising may be close.
The Wall Street Journal writes that job cuts may not be as deep as those in past recessions.
The Wall Street Journal writes that sovereign funds are meeting with the IMF to set guidelines for their investments.
The Wall Street Journal writes that the push for plug-in cars could be hurt by utilities charging more for electricity.
The New York Times reports that big retailers are shutting stores and cutting back expansion.
The FT reports that Apple (AAPL) set a big download deal with major movie studios
According to Bloomberg Warren Buffett may spend $40 billion on investments in companies while other investors are on the sidelines because of the credit crunch.
Bank of America may not back Countrywide Financial debt – Bloomberg
According to a regulatory filing filed on April 30, Bank of America (BAC) may not guarantee $38.1B of Countrywide’s debt (CFC). Bank of America declined to comment any further beyond the filing.
Research in Motion cell phone photos creates a buzz – Globe and Mail
The Boy Genius tech blog posted photos of a slim cellphone from Research in Motion (RIMM) on the website yesterday. This may be a hint that the company is positioning itself to be a major player in the global cell phone market. The company also announced a contract with Brightpoint Inc. (CELL) which could potentially bring the Blackberry to more users in the Middle East, Africa, Latin America, and Europe.
This positive news for shares.
DRYS initiated with an Outperform, target $110@FBCO
Credit Suisse is positive on DRYS’s growth opportunity and is bullish on dry bulk rates into 2009.
FCX: Recommend accumulating on weakness@SBSH
Citigroup expects copper to be supported above $3.40/lb and aluminum above $1.20.
WYNN: Raising estimates based on Macau@BOFA
BofA said WYNN’s Q1 was solid and continues to view it as the best way to play Macau. The firm reiterates its Buy rating and $127 target.
LEH & MS: Expect shares to trade lower, Q2 estimates lowered@MLCO
Merrill expects shares of LEH and MS to trade lower due to weak trading revenues. The firm lowered LEH Q2 EPS to 82c from $1.04 and MS to 80c from $1.31. Shares are Neutral rated.
ICE reports April average daily volume up 14%
IntercontinentalExchange reported solid growth in volume and commissions for the month of April. Average daily volume in futures during April rose 14%, and OTC commissions increased 96% over April 2007.
ICE reports Q1 EPS $1.29 vs. consensus of $1.27
Reports Q1 revenue $207.2M vs. consensus of $204.72M.
OII: Predict strong growth, reiterate Buy@JEFF
Jefferies believes the company is poised to report strong earnings growth over at least the next three years, thanks to its robust deepwater activity and subsea completions.
JWN upgraded to Outperform from Neutral@FBCO
On The Fly: Asian Markets Wrap-Up for Friday, May 2
Asian stocks advanced on the expectation that the global credit market crisis will begin to ease up. All markets advanced, except for the Philippines and Malaysia. China was closed for a holiday, and yesterday most Asian markets were also closed…JAPAN: The Nikkei 225 Stock Average rose 282.40, or 2.1%, to 14,049.26. The broader Topix index added 31.29, or 2.3%, to close at 1,377.39. Mizuho (MFD) gained 5.1% to Y539,000. Sumitomo Mitsui Financial Group was up 4.6% to Y911,000. Orix Corp. (IX) jumped 7.3% to Y19,900. Toyota (TM) added 2.8% to Y5,430. Honda Motor Co (HMC) added 3.9% to Y3,430. Fuji Heavy Industries was up 3.4% to Y459. Sumitomo Realty surged 7.4% to Y2,690. Casio Computer Co. lost 5.9% to Y1,429…AUSTRALIA: The S&P/ASX 200 Index was up 114.60, or 2.05%, to 5,700.40. Rio Tinto Group (RTP) is now trading at a record discount to BHP Billiton’s (BHP) hostile $162B takeover bid, which may mean investors think the deal may flounder…AROUND ASIA: In Hong Kong, the Hang Seng Index advanced 485.67, or 1.9%, to 26,241.02. Sino Land (SNLAY) gained HK$1.80, or 9.1%, to HK$21.50. Hang Lung Properties jumped HK$2.05, or 6.5%, to HK$33.75. Bank of China, was up 8 cents, or 2%, to HK$4.06. China Construction Bank Corp. rose 15 cents, or 2.1%, to HK$7.19. Li & Fung, a vendor to Wal-Mart (WMT), added HK$1.10, or 3.4%, to HK$33.35.
Yingli Green Energy-YGE signs sales contract with Eiko Trading Corp.
Yingli Green Energy Holding Company Limited announced that it has signed a sales contract with Eiko Trading Corporation JP, which is engaged in the development and installation of PV systems in Japan and consulting, trading and investing in renewable energy projects with global partners. Under the terms of the contract, Yingli Green Energy will supply 17.35 MW of PV modules to EIKO for planned projects in Germany. The shipment will be delivered between April and November 2008.
Yahoo close to agreement to carry ads from Google-WSJ
With a possible hostile takeover bid from Microsoft (MSFT) looming, within the next week Yahoo (YHOO) may announce that it has reached with Google (GOOG) to carry Google’s search advertisements, reports the Wall Street Journal.
U.S. equity futures point to a higher open after monthly job data is released
The futures are now pointing to a much higher open after the release of the monthly jobs data. The change in Non-farm Payrolls showed a decline of -20,000 versus an expected drop of -75,000, and the Unemployment Rate came in at 5.0% versus an expected 5.2%. The Change in Manufacturing Payrolls came in down at -46,000 versus an expected decline of -35,000. The jobs data always has an impact on the markets and today will be no different. The only thing investors will be waiting to see is the spin that analysts and economists put on the reports.
Fast Money position recap- Guy likes CSCO, Karen likes CMVT, Pete likes AXP on a pullback, Jeff suggests shorting the Dow with DOG. Macke Owns (MSFT), (DIS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Najarian Owns (AAPL), (TSO), (XLF), (YHOO); Najarian Owns (C) Calls, (CHK) Calls, (MSFT) Calls, (WLT) Calls, (POT) Calls; Finerman Owns (CHK), (GS), (HD); Finerman’s Firm Owns (MSFT), (NYX), (SUN), (TSO), (TYC), (TEL), (VLO), (CMVT); Finerman’s Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Finerman’s Firm Owns S&P 500 Puts; Finerman’s Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman’s Firm Is Short Pounds.
I am still watching the 4 Horsemen, MA, V, GS, JPM, XLF, CSCO, tech, BIDU, ICE, DRYS, UNP + transports, SOHU (chinese tech leader), RIG, PCLN, FXI. Keeping an eye on the TRIN’s and Vix. Tech rotation is still in play. Let winners ride and cut losers. Stay focused and pick plays with a high probability of success. Great trading and great luck to you!
Post a Comment