Wednesday, August 15, 2007

Morning Note...

Futures looking lower on the back of AMAT’s earnings warning and general market nervousness.  Which hedge fund blow-up will be announced today?

July core CPI was up 0.2%, which was inline with expectations and has held relatively steady with a 2.2% gain year-over-year.  Thus inflation trends are pretty steady but whether or not this gives the Fed room to lower rates is anybody’s guess.

Oil up over $73/barrel.  10 year note yields 4.70%.  

Announced Deals: 

Rockbay News:  Far EasTone (4904 TT) denies merger with New Century InfoComm, NBF positive on TOG CN, DBAB rates LDHB MK Buy on weakness, CITI positive on TXU at these levels, TCI slightly raises stake in RTR LN, CSFB maintains Taiwan Mobile (3045 TT) outperform, CBRY LN spokeswoman says no decision on US beverage unit yet – the Times reports “demerger” most likely as sale of unit has garnered no PE interest, CEN downgraded to neutral on Pershing endorsement of deal at UBS, FDC debt to be held by banks according to Crain’s, FINL/GCO announce early termination of waiting period,

Vito’s Trivia:  Why do ER personnel use the word “Stat?”  What does it mean?

Yesterday’s Answer:   “His presentation was quite abecedarian.  There was a fair amount of oscitation in the room.”  Abecedarian -- 1a: of or relating to the alphabet. b: alphabetically arranged. 2: rudimentary.  Oscitation -- v. yawning or gaping from drowsiness. [from Latin oscitare "to open (like a mouth.)"]