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Thursday, July 13, 2006

Pre-Market Notes for July 13, 2006

S&P FAIR VALUE -$1.50.

(AAPL) Apple selling new iPod designed with Nike for mobile sports (runners, etc).
(AJR) Arthur J. Gallagher acquired an insurance broker name Tarantino.
(BKS) Barnes and Noble announced shareholder lawsuit over stock options.
(BLTI) Biolase Technology received FDA clearance for Oculase MD laser system.
(BSTE) Biosite received FDA approval to market Triage TOX drug screen.
(CHAP) Chapparral Steel $2.33 EPS vs $1.77e; unsure if exact.
(CJR) Corus Entertainment $0.55 EPS vs $0.61e.
(COWN) Cowen's IPO priced at $16.00 for 11.2M shares; under the range.
(CREE) Cree announced preliminary results slightly under plan.
(CVO) Cenveo acquired an presciption drug label company with about $40 million in revenues for undisclosed terms.
(DELL) Dell is set to announce new pricing structure today.
(DIS) Disney is making job cuts in movie studio according to reports.
(FDC) First Data is acquiring CRM provider Peace Software for undisclosed terms.
(FLE) Fleetwood Homes $0.04 EPS vs $0.06e.
(FLOW) Flow International $0.18 EPS vs $0.12e.
(FOSL) Fossil's founder has acquired $7.5 Million shares.
(GERN) Geron immproved manufacturing for one of its products.
(HEES) H&E Equipment is restating earnings due to an $8M classification of a payment.
(ILMN) Illumina is in a pact to conduct custom genotyping for J&J.
(IP) International Paper announced $3 Billion repurchase program.
(MAR) Marriott $0.43 EPS before 1 penny charge vs. $0.40e.
(MEG) Media General $0.85 EPS vs $0.82e.
(METH) Methode Electronics $0.22 EPS vs $0.19e.
(NLX) Analex wins $15.3 million in contracts from Indian healthcare companies.
(NSTK) Nastech Pharmaceutical announced that the FDA wrote that its abbreviated new drug application for intranasal calcitonin is not approvable at this time.
(OPSW) Opsware CFO resigned.
(PEP) Pepsi $0.80 EPS vs $0.77e.
(PII) Polaris $0.53 EPS vs $0.53e; sees 2006 EPS $3.10-3.20 vs $3.10e, but slightly lowered Q3 EPS guidance.
(RECN) Resource Connection $0.31 EPS vs $0.31e.
(RGNC) Regency Energy Partners is making a $350M acquisition of new properties.
(SNDK) SanDisk announced new fab plant with Toshiba.
(SYPR) Sypris lowered guidance.
(TBUS) Digital Recorders announced $1.5M order in Sweden for bus systems.
(TV) Televisa is in talks with investment group now about maintaining investment in Univision according to NYTimes.
(WMT) Wal-Mart trading 2% lower on Merrill Lynch downgrade.
(WYE) Wyeth issued 2006 EPS guidance of $2.97 to $3.07 vs $3.07e.
(ZZ) Sealy issued breakeven results instead of $0.09, but that was after the IPO and related debt payment charges taht are one-time items.

Analyst Calls:
AAPL tgt cut to $75 at Soleil.
AT raised to Buy at Soleil.
ATEC started as Buy at First Albany.
BC cut to Hold at AGEdwards, cut to Hold at Citigroup.
BRCM reitr Outperform at FBR.
DIS cut to Underperform at CIBC.
EOP raised to Overweight at MSDW.
ERICY raised to Hold at Deutsche Bank.
GOOG reitr Buy at Jefferies.
HOFF started as Outperform at Lehman.
JNY cut to Sell at Merrill Lynch.
MHL cut to Mkt Perform at FBR.
NTLI reitr Buy at Oppenheimer.
NYX started as Buy at Jefferies.
PG started as Buy at UBS.
QCOM reitr Buy at Goldman Sachs.
RESP raised to Buy at B of A.
RNVS cut to Neutral at First Albany.
VRX started as Mkt Perform at FBR.
WCC started as Overweight at Prudential.
WMT cut to Neutral at Merrill Lynch.

Oil trading at new highs over $75 per barrell this AM.
Russia has reportedly reached an agreement to join the World Trade Organization.
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