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Monday, July 17, 2006

Pre-Market Notes (July 17, 2006)

S&P FAIR VALUE +$1.50.

(AAPL) Apple up 1.5% on positive Barron's cover feature article.
(AME) Ametek raised guidance of $0.57-0.59 upto $0.65 to $0.65 EPS.
(AMR) AMR is revamping its business class to add more comforts offered on other airlines.
(AMWD) American Woodmark added another $20 million to its share buyback plan.
(BA) Boeing secured another 20 737-jet plane orders.
(C) Citigroup $1.05 EPS vs $1.05e; R$22.169B vcs $22.3B(e).
(CCUR) Concurrent sees wider losses than expected; stock down 6% pre-market.
(ETN) Eaton $1.68 EPS vs $1.64e.
(FAL) Falconbridge's offer from PD gets a higher cash portion.
(GM) GM is said to be mulling an alliance with it and Renault/Nissan.
(GWW) W.W.Grainger $1.02 EPS vs $1.02e.
(HDI) Harley Davidson $0.91 EPS vs $0.91e; stock up over 2% pre-market.
(ISTA) Ista Pharma filed to sell 6.7 million shares of stock for selling holders.
(MAT) Mattel $0.08 EPS vs $0.04e.
(MCD McDonalds sees Q2 approximately $0.57 EPS vs $0.56e.
(MDT) Medtronic gets FDA approval for its Guardian product.
(MTO) Medtox $0.15 PES vs $0.12e.
(MWRK) Mothers Work raised guidance.
(NAT) Nordic American Tanker is buying a tanker for $80 million.
(NEST) Nestor registered to sell 13.1M shares for holders.
(ONXS) Onyx Software sees wider losses than expected.
(PFSW) PFSWeb registered 5M shares for selling shareholders.
(PGNX) Progenics Pharma and Wyeth get FDA fast track for Methylnaltrexone.
(PHG) Philips up 0.5% afterreporting slightly higher earnings overseas.
(PNRA) Panera slowing down according to Barron's.
(PVTB) Private Bancorp $0.47 PS vs $0.45e.
(RSG) Republic Services positive article in Barron's.
(THLD) Threshold Pharmaceuticals said its Phase II/III for TH-070 failed to meet primary endpoint.
(TMY) Transmeridian Exploration filed to sell 6.1+M shares of common stock for selling holders.
(UPS) UPS gets DOJ subpoena over ongoing criminal investigation.
(VISG) Viisage is acquiring Iridian Technologies for $35 million in cash.
(VVUS) Vivus filed to raise $80M in stock sales.
(YHOO) Yahoo! is upgrading its Yahoo! Finance.

Analyst Calls:
BYD raised to Outperform at Thomas Weisel.
CPT cut to Neutral at B of A.
CSC cut to Underperform at Jefferies.
DELL started as Sell at ThinkEquity.
DIS cut to Neutral at Cowen.
EFII raised to Buy at Citigroup.
FDS cut to Equal Weight at MSDW.
GE reitr But at Citigroup.
GLT raised to Buy at Deutsche Bank.
HPQ & IBM started as Sell at ThinkEquity.
LMIA raised to Buy at Oppenheimer.
LOOP tsrated as Outperform at Thomas Weisel.
MOGN raised to Outperform at Bear Stearns.
MRX raised to Equal Weight at MSDW.
NRF cut to Neutral at B of A.
NTAP cut to Underweight at MSDW.
NTRS raised to Neutral at Goldman Sachs.
PETC cut to Hold at Citigroup.
PTEN Cut to Hold at Jefferies.
QCOm raised to Buy at UBS.
RF raised to Neutral at CSFB.
RNOW raised to Outperform at FBR.
SFUN started as Hold at Citigroup.
SGY raised to Overweight at JPMorgan.
STX raised to Equal Weight at MSDW.
USU reitr Outperform at FBR.
VTSS cut to Underperform at CIBC.

8:30 AM EST July Empire Manufacturing Index.
9:15 AM EST June Industrial Production & Capacity Utilization.

Mixed reports out of Israel and Lebanon are taking all the thunder this morning. We have had reports of Israeli troops conducting ground operations inside Lebanon, which were denied by Israelis. We had a report that an Israeli warplane was shot down, which was denied. There has been talk that operations could be winding down in days. There have been additional rocket attacks into Israel that caused 8 fatalities in Haifa at the train station over the weeken

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