Wang’s Happy Trading

Submitted By Optiondragon

Pink Floyd - Another Brick in the Wall

From briefing.com

Nasdaq Premarket Heat Map

On The Fly: Periodicals Wrap-Up for Monday, May 5
WALL STREET JOURNAL: United Airlines parent UAL (UAUA) is intensifying merger talks with US Airways (LCC), and a deal could be reached in as soon as 10 days, inside sources said. FINANCIAL TIMES: Deutsche Telekom (DT) is reportedly thinking of buying Sprint Nextel (S). NEW YORK POST: Microsoft (MSFT) is considering a variety of ways of spending the $46B it was going to use to buy Yahoo (YHOO). Options include buying a social networking site or carrying out a huge share buyback. INDEPENDENT: Warren Buffett is looking to buy British companies. Buffett said he was examining the books of the Royal Bank of Scotland (RBS), which is trying to sell its insurance businesses, and the billionaire investor added that Berkshire Hathaway (BRK.A) is close to buying a mid-sized British company.

Asian Markets Wrap-Up for Monday, May 5
Asian stocks advanced. The markets in Japan, South Korea and Thailand were closed for holidays…CHINA: The CSI 300 Index was up 96.66, or 2.4%, to 4,055.78, as raw material producers led the way. Zhongjin Gold rose 5.96 yuan to 65.54. Shandong Gold added 11.90 yuan to 130.90. Both firm’s stocks were up by the 10% daily limit. Yunnan Copper was up 1.30 yuan, or 4.7%, to 29.20. Jiangxi Copper Co. rose 1.63 yuan, or 4.8%, to 35.84. Air China climbed 1.48 yuan to 16.31. China Eastern Airlines Corp. (CEA) advanced 1.07 yuan to 11.79. Both airlines were up by the 10% daily limit. Angang Steel Co. gained 0.89 yuan, or 4.1%, to 22.39 as it was reported that ArcelorMittal (MT) held talks with them about a venture in China…AUSTRALIA: Australian stocks were up. The S&P/ASX 200 Index rose 29.90, or 0.5%, to 5,730.30, led by BHP Billiton (BHP) and Rio Tinto (RTP). BHP was up 70 cents, or 1.6% percent, to A$44.12, and Rio Tinto gained 69 cents, or 0.5%, to A$138.95. Woodside (WOPEY) rose A$2.22, or 3.9%, to A$59.22. Autodom dropped 8 cents, or 53%, to 7 cents. Emerald Oil & Gas NL jumped 3 cents, or 25% to 15 cents. Leighton Holdings added A$1.13, or 2.4%, to A$48.42…HONG KONG: The Hang Seng Index retreated 57.07, or 0.2%, to 26,183.95. Li & Fung was down HK$2.25, or 6.8%, to HK$31.10. Cheung Kong (CHEUY) advanced $2.20, or 1.8%, to HK$126.70. Sun Hung Kai (SUHJY) climbed HK$1.80, or 1.3%, to HK$142.30. PetroChina (PTR) gained 2 cents, or 0.2%, to HK$12.10. Cnooc (CEO) was up 14 cents, or 1.1%, to HK$13.50.

BUCY coverage assumed with an Overweight, target $140@LEHM
Lehman expects BUCY to benefit from an upturn in mining equipment spending.

JOYG coverage assumed with an Overweight, target $88@LEHM
Lehman expects JOYG to benefit from continued strong copper and coal end markets.

Petrobras-PBR initiated with an Overweight@JPMS
JP Morgan believes pre-salt upside is not yet priced into shares and set a $137 target on the stock.

U.S. Truck: Recommend increasing exposure to the sector@JPMS
JP Morgan believes recent trends in the heavy truck segment suggest that conditions in the US may be bottoming. Their top picks in the space are NAVZ, ETN and CVGI.

GOOG: Should benefit from MSFT pulling YHOO bid@GSCO
Goldman said Google will be perceived as the safe choice by any search affiliate choosing a partner, helping it retain its network leadership. Share of GOOG are Buy rated.

GOOG: In the Catbird Seat? —Flyonethewall.com
With the Yahoo (YHOO)/Microsoft (MSFT) deal now dust in the wind, it is Google (GOOG) that may be the big winner of the day. Whatever discount the shares may have received on concerns of the competitive threat a “MicroHoo” tie-up may have posed will now abate. In the pre-market shares are up +3.34% and above the psychologically important $600 threshold. Next resistance is at $605.52 (upper limit of the bullish price channel for today), $622.05, $641.41, $652.50. Support is at $595.00. :

Alpha Natural-ANR reports Q1 EPS 39c vs. consensus of 17c
Reports Q1 revenue $516.9M vs. consensus $487.75M.
Excellent beat, expect some action on this name, look for strength.

YHOO downgraded to Sell from Hold@CSTI
Collins Stewart believes there is no near-term catalysts for YHOO shares but does have a positive bias that MSFT will com back in the future. Target $23.

Yahoo-YHOO downgraded to Sell from Accumulate@THNK
ThinkPanmure downgraded shares as they value the company at $20 on a standalone basis. Target lowered to $20 from $31.

YHOO shares likely to trade back to low $20’s, maintain Buy@JEFF
Jefferies believes YHOO shares are likely to pullback to the low $20s after Microsoft (MSFT) walked away but thinks the company’s better than expected Q1 results and an imminent deal with Google (GOOG) should prevent the stock from slumping back to the high teens. Jefferies maintains a Buy rating on YHOO shares.

MSFT: Would not be surprised if MSFT chased YHOO again@OPCO
Oppenheimer maintained their Market Perform rating on Microsoft.

MSFT: Uncertainty of next move likely to limit upside@BOFA
Banc of America believes that while MSFT shares are likely to trade higher this morning, a major breakout to the upside will be limited by the uncertainty around the company’s next move. They find shares attractively valued, but think patience will be needed. Shares remain Buy rated.

MSFT coverage resumed with a Buy, target $38@GSCO

Brasil Telecom-BRP upgraded to Buy from Hold@DBAB
Deutsche Bank upgraded shares and raised their target to $90 from $87 as they believe the recent weakness presents a good buying opportunity.

ICE target raised to $175 from $160@DBAB
Deutsche Bank raised ICE’s target following the company’s Q1 upside. Shares remain Buy rated.

ArcelorMittal looking to link up with Chinese steel company-FT
ArcelorMittal (MT) has held informal discussions with China’s Angang Steel (ANGGF) about working with the Chinese steel company in an effort to extend its presence in the country. Arcelor Mittal sought to buy a 25% stake in Angang just over two months ago. Angang turned down that proposal, but said it would be willing to sell a 1%-2% stake in itself to ArcelorMittal, and the Chinese company added that it would be willing to co-operate with ArcelorMittal.

AAPL target raised to $220 from $200, maintain Outperform@RBCM
RBC sees upside to iPhone estimates following changes Apple may make to its iPhone business model and believes 3G remains on track for a global June launch.

April Handset Demand: Checks indicate sales were mildly disappointing@PACS
PacCrest’s April handset checks reveal US handset sales were mildly disappointing with sales flat to down in what they say is typically one of slowest months of year. They say sales in Western Europe were generally in-line to slightly better. PacCrest views this as a positive for Qualcomm (QCOM) as the company will benefit from higher royalties, higher ASPs and better gross margins. They also view this as positive for Apple (AAPL) as demand for the iPhone in the UK is increasing dramatically with the price cut. PacCrest is neutral on Palm (PALM) as the Centro product momentum slows. On Nokia (NOK), they would remain on the sidelines a N95 demand is fading. On Motorola they would avoid the shares as they are still losing US marketshars. PacCrest would however, be long the shares of Ceragon Networks (CRNT) and LM Ericsson (ERIC) for 2H08 strength in infrastructure build plays.

CSCO: Expect in-line Q3, but Q4 guidance may be light@TWPT
Thomas Weisel believes the results of cCsco’s competitors indicate that there was strong demand for the company’s product from overseas customers in Cisco’s Q3. However, the firm thinks Cisco’s guidance for its Q4 is likely to be in-line to slightly below expectations due to caution about the company’s businesses that are sensitive to the macro economy. Thomas Weisel maintained their Overweight rating.

Fast Money position updates- First Moves- Jeff likes MSFT, Guy likes UPS, Karen likes PM, Tim likes UBB.
Macke Owns (ATVI), (DIS), (MSFT), (HAS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT); Seygem Asset Management Owns (EEM), (INFY); Finerman Owns (GS), (C); Finerman’s Firm And Finerman Own (HD); Finerman’s Firm Owns (NYX), (MO), (MSFT), (PLCE), (PM),(YHOO) and (YHOO) Call Spreads, S&P 500 Puts, Finerman’s Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF).

Watching GOOG this morning for strength but it is gapping right into resistance so going to watch how it reacts to $600. Hawking FCX, PCU, GA, DRYS, EXM, FRO, PCP, SOHU, CTRP, NVDA, RIO, UBB, SBS, eye on the ^soxx and OIH plays, APA, ANR and coal plays off of ANR’s big beat. Keeping an eye on the XLF of course and the brokers. Stick to your gameplan, keep focused, stay in the zone and be positive. Pick plays with a high probability of success! Great trading and Good Luck!