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S&P FAIR VALUE +$1.36.

(AAPL) Apple has reportedly had an overseas ruling in its favor over the Beatles.
(ALY) Allis Chalmers filed to sell 4.7M shares of common stock.
(BRK/a) Berkshire Hathaway $1,501 vs $1,085 estimate; unsure if comparable on so many units; will pay $4B for an 80% stake in Iscar Metalworking and noted that it was interested in making acquisitions in Japan and elsewhere.
(DCGN) deCODE genetics discovered a marker for prostate cancer.
(EMMS) Emmis has a $15.25 CEO-management led buyout offer to buy the other 80+% of the company he doesn't own.
(FRZ) Reddy Ice filed to sell 4.59M shares.
(FSH) Fisher Scientific gets a 2 share to 1 stock buyout from Thermo Electron (TMO); although FSH is larger.
(GDW) Golden West Financial is merging with Wachovia in a $25B merger agreement, or $81.07 per share.
(HIV) Calbio named a new CEO.
(HNT) HealthNet $0.65 EPS vs $0.62e.
(INTC) Intel is rebranding to Core Duo name after Pentium, although this is pretty much already known.
(OTC:LPMA) Lipman Electronics $0.27 EPS vs $0.23e.
(MGRM) Monogram Bio in HIV pact with Pfizer; -$0.03/R$13.2M vs -0.03/$13.8M(e); stock up 18% pre-market.
(MHS) Medco will settle fraud allegations with the Justice Department according to the WSJ.
(MYOG) Myogen -$0.42 EPS vs -$0.36e.
(N) Inco Ltd. will get a merger proposal in Canada from tech Cominco for C$17.8B.
(NTLI) NTL is repoortedly cutting 6,000 jobs.
(PGIC) Progressive Gaming won approval for its live betting technology in Nevada.
(PLAB) Photronics announced a joint-venture with Micron (MU).
(RTN) Raytheon filed a $2B mixed securities shelf.
(SKYE) SkyePharma and Kos Pharmaceuticals-KOSP sign license agreement for US marketing and distribution of SkyePharma's Flutiform.
(TWX) Time Warner hired Citigroup to explore its AOL Europe options according to the WSJ.
(WPSC) Wheeling-Pittsburgh Corporation and Companhia Siderurgica Nacional announced a pact for North America.
(YHOO) Yahoo is reportedly altering its advertising system after losing Microsoft.
(ZLC) Zale's placed its CFO on administrative leave.

Analyst Calls:
AMG raised to Outperform at Goldman Sachs.
AQNT reitr Neutral at Oppenheimer.
ARA cut to Reduce at UBS.
ATK maintained Buy at UBS.
BID raised tgt and est's at JMP.
BLK cut to In-Line at Goldman Sachs.
CMED raised to Neutral at UBS.
CNS cut to Underperform at Goldman Sachs.
CREE started as Mkt Perform at Piper Jaffray.
CSCO maintained neutral at UBS.
DIS reitr Outperform at Cowen.
DRI cut to Mkt Perform at Wachovia.
DVA maintained Buy at Deutsche Bank.
IKAN raised to Outperform at Thomas Weisel.
GILD reitr Buy at Citigroup.
KMG reitr Buy at UBS.
MNCP started as Buy at Adams Harkness Hill.
MSCC started as Overweight at Lehman.
NDAQ raised to Outperform at KBW.
NRGY raised to Buy at Citigroup.
NTRS cut to Underperform at Goldman Sachs; raised to Overweight at Prudential.
OYOG raised to Outperform at RBC.
PALM maintained Mkt Perform at Piper Jaffray.
PCG cut to Equal Weight at Lehman.
PDLI reitr Overweight at Prudential.
PETC & PETM started as Sector Perform at CIBC.
PGL cut to Underweight at Lehman.
RIMM reitr Mkt Perform at Piper Jaffray.
RSO started as Neutral at JMP.
SLM raised to Equal Weight at MSDW.
SWIR reitr Outperform at Piper Jaffray.
TOL maintained Outperform at FBR.
TSG cut estimates at Thomas Weisel.
UN cut to Equal Weight at MSDW.
WB cut to Mkt Perform at FBR.
WEBX maintained Outperform at Cowen.
XJT raised to Neutral at Merrill Lynch.
XTXI raised to Outperform at Wachovia.
YHOO positive at Piper Jaffray after earnings season.

Jim Cramer's "Mad Money": Cramer discussed Germany's SGL Carbon (SGG), which makes carbon and graphite-based products. Cramer then recommended a Brazilian bank, Banco Itau (ITU). Cramer also recommended buying Foster Wheeler (FWLT). In the "Lightning Round," Cramer was POSITIVE on NightHawk Radiology (NHWK), CSX (CSX), Burlington Northern (BNI), Genesee & Wyoming (GWR), Lockheed Martin (LMT), Northrop Grumman (NOC), General Dynamics (GD), Suncor (SU), Marvell (MRVL), eBay (EBAY), Occidental (OXY), GlobalSantaFe (GSF), Paychex (PAYX), Whole Foods (WFMI), Coldwater Creek (CWTR), Palm (PALM) and Procter & Gamble (PG); and he was NEGATIVE on Martha Stewart Living (MSO), American Science and Engineering (ASEI), PW Eagle (OTC:PWEI), California Amplifier (CAMP), Quality Systems (QSII), Christopher & Banks (CBK) and Research-in-Motion (RIMM).
Barron's: Asks if EMC (EMC) can maintain its post and its arrangement with Dell. NYSE (NYX) may have to buy an options exchange. Positive on Digital insight (OTC:DGIN). Asks on Sotheby's (BID) if the current art market is a bubble. Positive article on United Tech (UTX).

Source: Monday Pre-Market Notes By Stock Ticker