From Between the Hedges:
- Berkshire Hathaway(BRK/A) agreed to buy Russell Corp.(RML) for almost $600 million in cash to add to its apparel businesses.
- Calpine Corp. said it will take more than $7 billion in charges to reduce the value of its assets as it restructures under bankruptcy protection.
- Lenovo Group Ltd., China’s largest PC maker, will buy $1.2 billion of Microsoft’s Windows software over the next year as part of efforts to curb piracy of the world’s most popular operating system software.
- Amazon.com(NASDAQ:AMZN) is selling grocery products and will offer delivery to become the leading one-stop Internet site in the US, citing the company.
- Goldman Sachs(NYSE:GS) CEO Paulson warned executives to stop using the firm’s money to back unsolicited bids because they risk damaging relationships with corporate clients.
Late Buy/Sell Recommendations
- Raised CACI to Outperform, target $74.
Asian Indices are -.50% to +.50% on average.
S&P 500 indicated +.07%.
NASDAQ 100 indicated +.06%.
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
- (NYSE:CB) 2-for-1
8:30 am EST
- The Producer Price Index for March is estimated to rise .4% versus a 1.4% decline in February.
- The PPI Ex Food & Energy for March is estimated to rise .2% versus a .3% rise in February.
- Housing Starts for March are estimated to fall to 2030K versus 2120K in February.
- Building Permits for March are estimated to fall to 2100K versus 2179K in February.
2:00 pm EST
- Minutes of March. 28th FOMC Meeting.
BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and financial stocks in the region. I expect US equities to open modestly higher and to trade modestly lower into the afternoon, finishing mixed.