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Tuesday, July 18, 2006

Pre-Market Notes (July 18, 2006)

S&P Fair Value +$1.29

(ACTS) Actions Semi $0.21 EPS vs $0.18e; sees next $0.210..24 vs $0.22e.
(ADTN) Adtran $0.29 EPS vs $0.29e.
(AMTD) Ameritrade $0.27 EPS vs $0.22e;
(ASO) AmSouth $0.53 EPS vs $0.53e.
(ATEC) Alphatec received FDA clearance for its adjustable bridge product.
(AVSR) Avistar announced patent pact for a unit to license to Sony.
(BLK) Blackrock $0.95 EPS vs $1.17e.
(CBM) Cambrex filed for FDA Humanitarian Device Exemption status for its OrCel.
(CNC) Centene lowered guidance due to increased medical costs.
(CCK) Crown $0.42 EPS vs $0.38e.
(CNTF) China Techfaith lowered revenue guidance for Q2.
(CRXL) Crucell NV suspends development of its Aerugen.
(DGII) Digi International $0.14 EPS vs $0.14e.
(ELS) Equity Lifestyle Proprties $0.54 FFO vs $0.53e.
(FELE) Franklin Electric $0.72 EPS vs $0.69e.
(FRX) Forest labs $0.62 EPS vs $0.52e; unsure if comparable.
(HAWK) Petrohawk Energy filed to sell 5.9M shares for holders.
(ICE) Intercontinental Exchange 8M share secondary priced at $56.00, under the $58.11 close; stock down $1.50 pre-market.
(IFX) Infineon is supposed to give spin-off details for Quimonda unit IPO on Friday.
(JBHT) JBHunt Trans $0.36 EPS vs 0.37e, unsure if items in EPS.
(JEF) Jefferies $0.32 EPS vs $0.33e.
(JNJ) Johnson & Johnson $0.98 EPS vs $0.97e, was $0.95 after items.
(JRN) Journal Communications $0.21 EPS vs $0.195e.
(KEY) Keycorp $0.75 EPS vs $0.71e.
(KO) Coca Cola $0.74 EPS vs $0.72e.
(MEDI) Medimmune said the FDA is requesting clarification and additional information relating to data previously submitted for the FluMist supplemental application.
(MER) Merrill Lynch $1.63 EPS vs $1.52e.
(MTG) MGIC $1.74 EPS vs $1.73e.
(NBIX) Neurocrine Bio -$0.74 EPS vs -$0.73e.
(NCC) National City $0.77 EPS vs $0.74e.
(NNI) NelNet said a data tape with 188,000 customer information that was in the possession of UPS cannot be found.
(NOBL) Noble in advanced development agreement with GM for body structures in future models.
(NTAP) Network Appliance reiterated $0.23-0.24 EPS target, but est. is $0.24.
(NYT) New York Times said its CFO is retiring.
(ONXS) Onyx Software's board rejected the $5.00 off from CHINA-CDC corp.
(PBY) Pep Boys CEO has resigned.
(PFE) Pfizer has released positive data on its Aricept for Alzheimers treatment.
(PPDI) Pharmaceutical Product Development $0.31 EPS vs $0.29e.
(RSH) RadioShack CFO resigned.
(SANM) Sanmina lowered guidance from $0.09 down to $0.06-0.07.
(SORC) Source Interlink is seeking a buyer for the company according to WSJ.
(STT) State Street $0.93 EPS vs $0.83e, unsure if comparable.
(STLY) Stanley Furniture $0.32 EPS vs $0.30e; announced $50M share buyback plan.
(TBIO) Transgenomic registered 24M shares for selling holders.
(TGT) Target lowered July s-s-s guidance from 4-6% down to 3-4%.
(TKR) Timken raised EPS guidance.
(UFPI) Universal Forest $1.41 EPS vs $1.38e.
(USB) USBancorp $0.66 EPS vs $0.64e.
(UTX) United Tech $1.09 EPS vs $1.02e.
(WFC) Wells fargo $1.33 EPS vs $1.24e.
(WIN) Windtream trading now, was the replacement for CTB in S&P 500 Index and was a spin-off of GD/VCG joint venture.

ANF cut to Hold at AGEdwards.
AQNT raised to Outperform at RBC.
BBY cut to Hold at AGEdwards.
BLS started as Overweight at Prudential.
CHIC tsarted as Outperform at FBR.
CNO raised to Overweight at MSDW.
COSI started as Sector Perform at CIBC.
CYT raised to Neutral at Goldman Sachs.
FDC reitr Buy at Citigroup.
HORC raised to Buy at Deutsche Bank.
INTC maintained Buy at Merrill Lynch, with caution on next quarter.
ITT raised to Buy at Merrill Lynch.
JCP cut to Hold at AGEdwards.
MCD raised to Buy at Goldman Sachs.
MFA started as Outperform at Bear Stearns.
MOT reitr Buy at Citigroup.
NLC reitr Buy at Citigroup.
OI raised to Buy at Citigroup.
OMCL raised to Outperform at Thomas Weisel.
PALM raised to Peer Perform at Bear Stearns.
Q started as Neutral at Prudential.
RCKY cut to Neutral at First Albany.
RMD started as Buy at Merrill Lynch.
S started as Neutral at Prudential.
SINA raised to Outperform at Thomas Weisel.
T started as Overweight at Prudential.
TGT cut to Hold at AGEdwards.
THI cut to Neutral at Goldman Sachs.
UST raised to Buy at UBS.
WIN started as Overweight at Lehman.
YUM raised to Buy at Goldman Sachs.

Cramer's Mad Money: Positive on LOW and negative on HD; positive on NBR and negative on EBAY; positive on ABB and negative on DD; said to sell CMED.

8:30 AM EST June PPI.

Please understand that 24/7 Wall St. can never guarantee the accuracy of any data, but during earnings season this is even more important to stress. There are over 200 companies reporting on average each day for the next 3 weeks and these headline and raw earnings numbers are often containing gains or charges. Estimates may have also changed at the last moment, so some "BEAT" and some "MISSED" may not be representative of the true comparison to estimates.

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