Late Night Headlines: Latin American Declines, Google Spreadsheet

by: Between the Hedges

From Between the Hedges:

Late-Night Headlines

Bloomberg:
- Brazilian, Mexican and Argentine stocks led a decline in Latin American markets as high oil prices raised concern that world economic growth will slow, cutting demand for the region’s commodities.
- Google (NASDAQ:GOOG) will offer users a tool for creating and sharing spreadsheets on the Web, pressing the challenge to Microsoft(NASDAQ:MSFT).
- Intel Corp. (NASDAQ:INTC) will make a pitch for loyalty from its customers at the biggest gathering of chip buyers in Asia, after slumping to its lowest market share this decade.

Financial Times:
- General Motors(NYSE:GM) said faster-than-expected voluntary redundancies by staff could enable it to lower prices or increase spending on technology, citing CEO Wagoner.
- SAP AG plans to remain independent and doesn’t expect any US industry players to aim to buy the world’s largest business-management software maker, citing CEO Kagermann.

AP:
- The Somalian capital of Mogadishu was seized by an Islamic military group that may be linked to the al-Qaeda terrorist group.

Late Buy/Sell Recommendations
- None of note

Night Trading
Asian Indices are -1.25% to -.75% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.14%.

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Earnings of Note
Company/EPS Estimate
- (NYSE:ABM)/.19
- (NYSE:COO)/.70
- (NYSE:DSW)/.35
- (NYSE:KFY)/.29
- (NYSE:LZB)/.30
- (MATK)/.16
- (VTS)/.71

Upcoming Splits
- (NYSE:CRI) 2-for-1
- (NYSE:RIO) 2-for-1
- (NASDAQ:HUBG) 2-for-1

Economic Releases
- None of note

BOTTOM LINE: Asian indices are lower, pressured by commodity and automaker stocks in the region. I expect US equities to open modestly lower and to rise into the afternoon, finishing mixed.