Friday, September 21, 2007

Morning Note...

Futures up slightly on the back of upbeat earnings from NKE and ORCL.  Very slow news outside of that.  No economic releases today.

MT initiated with overweight at LEHM.  NKE trading up on earnings and may spin off Bauer unit.  ORCL trading up on earnings. 

Icahn increases stake in BEAS to 9.88%.

Oil at $81.50, off from yesterday’s $83.32 record.  Ten year yields 4.69%. 

Announced Deals: 

Rockbay News:  Fortis plans on selling $18.8B in stock to help fund ABN Amro acquisition, QI 25mm secondary priced at 10.92, ATML suspected fraud in HK operations, WSJ reports KKR and GS souring on HAR deal, HUN to settle lawsuits seeking to stop its acquisition by Apollo

Enrico Fermi’s Trivia:  How many piano tuners are there in New York City?

Yesterday’s Answer:  The Great Wall of China is just over 4,000 miles long.