From Between the Hedges:
- Nielsen/NetRatings, a global leader in Internet media and market research, today announced that Google(NASDAQ:GOOG) accounted for 50% of all searches conducted in April, followed by Yahoo! and MSN, with 22% and 11%, respectively. Year-over-year, Google gained three percentage points in market share, while Yahoo! remained flat and MSN dipped slightly.
- The yen fell, reversing a gain, after Japanese Finance Minister Sadakazu Tanigaki said there still wasn’t enough evidence that seven years of deflation in the world’s second-largest economy has ended.
- An employee of San Jose-based Data Physics was indicted on charges he exported to China equipment used to design and manufacture missiles, federal prosecutors said.
- The top two highest paid hedge fund managers in a list of 26 earned around $1.5 billion each last year, citing the Institutional Investor’s Alpha magazine list. Renaissance Technologies Chairman James Simons earned $1.5 billion in 2005, while T. Boone Pickens, chairman of BP Capital LLC, earned $1.4 billion speculating mainly on the rise in energy prices.
- AU Optronics(NYSE:AUO) urged liquid-crystal displays makers to cut production to help clear excess inventory that has caused prices to fall.
Xinhua News Agency:
- China won’t buy crude oil from the international market to fill its strategic reserves because of high prices, citing a senior Chinese government official.
Late Buy/Sell Recommendations
- Anadys Pharmaceuticals(NASDAQ:ANDS), a drug developer will see its share price rise later this year as favorable results from early trials of certain drugs come in, citing Eric Schmidt, an analyst with Cowen & Co.
- Sierra Health Services(SIE) may rise as much as 34% because of its earnings and possible acquisition interest from other companies.
- Signature Bank(NASDAQ:SBNY), a commercial bank started by 100 former First Republic Bank employees, is growing by targeting the underserved market of smaller private companies, citing David Long of William Blair.
Asian Indices are +.75% to +1.25% on average.
S&P 500 indicated -.04%.
NASDAQ 100 indicated +.08%.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Before the Bell CNBC Video(bottom right)
Top 20 Business Stories
Daily Stock Events
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
- None of note
8:30 am EST
- Personal Income for April is estimated to rise .7% versus a .5% increase in March.
- Personal Spending for April is estimated to rise .6% versus a .6% gain in March.
- The PCE Core for April is estimated to rise .2% versus a .3% gain in March.
9:45 am EST
- The final Univ. of Mich. Consumer Confidence reading for May is estimated at 79.0 versus a prior estimate of 79.0.
BOTTOM LINE: Asian indices are higher, by technology and commodity stocks in the region. I expect US equities to open mixed and to rise into the afternoon, finishing modestly higher.