Wednesday, September 5, 2007

Morning Note...

Futures look down this morning in a reversal of yesterday’s action.  Not much news out there to justify the move… the Japanese mkt was down 1.6% overnight so that may be a contributing factor.  Mortgage apps were up 0.4% last week.  Auto sales were stronger than expected as reported yesterday.  Oil holds $75/barrel.  10-year note yields 4.52%.  

Announced Deals: 

Rockbay News:  RBC upgrades UFS on valuation, ISS recommends CEN shareholders vote for deal yet reject full slate of Pershing Square board nomimees, FT reports RBS unlikely to lower or escape bid for ABN Amro, TA started at outperform at MOKE, FT reports RIO and BHP may be working on break-up bid for RTP,  TheDeal reports investment banks offering debt at discount, MLCO raises AA to buy on recent pullback, WMB target raised to $43 at MSDW, CSFB raises IFX to outperform, UBS raises estimates for DAI GY, CVS Chairman sells $45mm in stock,

Vito’s Advanced Trivia:  Which country boasts the largest tiger population?

Yesterday’s Answer:  There are 46 states in American… and 4 Commonwealths (Ma., Ky., Pa., Va.)