Saturday, June 30, 2012

Old School Trivia Question - S24 License Exam Manual.

In addition to market, limit, and stop orders, all of the following orders may be entered into Nasdaq EXCEPT:
A) preferenced orders.
B) nondirected orders.
C) directed orders.
D) unpreferenced orders.
View Answer and Explanation
Answer: D
The three types of orders that may be entered into Nasdaq are nondirected, preferenced, and directed. Unpreferenced orders were part of the SOES trading system that was replaced by Single Book.

Thursday, June 28, 2012

(NKE) (RIMM) Both Miss On EPS - (SWHC) Big Beat - Seems alot of people are buying guns

(NKE) Misses by .20c on its EPS, down $10 in the post market
(SWHC) Beats across the board solidly - Smith & Wesson beats by $0.10, beats on revs; guides Q1
EPS above consensus, revs above consensus; guides FY13 EPS above consensus, revs above consensus - Up $1.00 in the post market
(RIMM) Research in Motion reports Q1 adjusted EPS (37c), consensus (1c) Jun 28 at 16:20
(TIBX) TIBCO Software beats by $0.03, beats on revs (Stock Price: 26.83 Change: -0.21)

Disclosure: No Positions

Wednesday, June 27, 2012

(FB) out of the quiet period - Pre & Post Market Movers

(FB) Facebook down on over a dozen analyst initiating coverage after the quiet period.
(WPRT) Westport Innovations Announces Second Agreement with General Motors (GM) for Advanced Engineering Development for Light-Duty Vehicles Jun 27 at 08:02
(OMER) Trading lower pending secondary pricing pre market -17% .
(ORLY) O'Reilly Sees 2nd-Quarter Earnings at Low End of View, Cuts Same-Store Sales Guidance Jun 26 at 18:45
(AONE) Mid-Continent Instrument Company Signs Agreement withA123 Systems to Supply Advanced Nanophosphate (R)Lithium-ion Battery Technology for Aviation ApplicationsJun 27 at 09:00

Disclosure: Long (OMER) pre market

Tuesday, June 26, 2012

(SNX) (APOL) Last Nights Earnings Movers (STX) added to S&P

(APOL) Piper Jaffray says still too soon to own Apollo Group shares Jun 26 at 07:47
(APOL) Apollo Group price target lowered to $45 from $50  at BMO Capital Jun 26 at 07:55
(APOL) Apollo Group 3Q Profit Falls 37%, Beats ViewJun 25 at 16:25
(SNX) SYNNEX shares should be bought on any weakness,  says Needham Jun 26 at 07:47
(SNX) SYNNEX price target lowered to $40 from $45 at Brean Murray Jun 26 at 07:39
(SNX) Synnex reports EPS in-line, misses on revs; guides Q3 EPS, revs below consensus
(STX) Seagate To Be Added to S&P 500; Progress Energy To Be Removed Jun 25 at 18:05
(RBN) Guides and post in line
(MS) MS: Downgraded - The firm lowered shares to Neutral with a price target of $16 down from $20.

Disclosure: Long (STX)

Monday, June 25, 2012

(RIMM) Big downgrade out of Morgan - Lowers Price target to $7

(RIMM)  Downgraded - Morgan Stanley lowered shares from Equal Weight toUnderweight with a price target of $7.
(RIMM) Research in Motion denies it will split up company, Globe and Mail reports
Jun 25 at 07:58
(NFLX)  Upgraded to Neutral from Sell at Janney MontgomeryScott (Stock Price: 67.86)
(SNDK) SNDK: Upgraded - JAGNote by Goldman Sachs - shares from Neutral to Buy with a price
target of $45.
(CHK)  Chesapeake Energy: Reuters discusses allegations that CHKand Encana (ECA) together tried to suppress prices of landJun 25 at 08:45

Disclosure: Short (RIMM)

Sunday, June 24, 2012

Barron's Recap - Stocks to watch Monday - Calender Preview

(MSFT) Microsoft goes into competition with its own partners...
The Street is pondering how deeply Microsoft (MSFT) will compete with Hewlett-Packard (HPQ), Dell (DELL), and others who sell its Windows operating system on their computers with their newly announced tablet computer "MicrosoftSurface".
(WAG) Walgreen investors should look elsewhere for retailing bargains, Barron's says
(WFC) Wells Fargo should be able to deliver strong results, Barron's reports
(JCP) Barron's(6/25) A Return Visit To Earlier Stories: Penney: Not A Bargain Yet

 Earrings Calender:

Progress Software         2Q        0.17     0.38    PRGS
Miller (Herman)           4Q        0.30     0.30    MLHR
TIBCO Software            2Q        0.23     0.21    TIBX
Accenture                 3Q        0.99     0.93    ACN
NIKE Inc 'B'              4Q        1.37     1.24    NKE
Family Dollar Stores      3Q        1.07     0.91    FDO
AZZ                       1Q        0.81     0.75    AZZ
Amer Greetings            1Q        0.69     0.78    AM
Methode Electron 'A'      4Q        0.07     0.24    MEI
MSC Industrl Direct       3Q        1.11     0.97    MSM
Shaw Grp                  3Q        0.57     0.39    SHAW
Worthington Indus         4Q        0.53     0.64    WOR
Constellation Brands      1Q        0.39     0.39    STZ
Finish Line               1Q        0.23     0.30    FINL
KB Home                   2Q       -0.34    -0.89    KBH

Economic Calender:
Day   Time
                                                 Consesus Est  Last Period

M   10:00   May New Home Sales                    346,000      343,000
T   10:00   June Consumer Confidence               63.5         64.9
W    8;30   May Durable Goods                       0.5%         0.0%
Th   8:30   Q1 GDP (f)                              1.9%         1.9%
F    8:30   May Personal Income                     0.2%         0.2%
     8:30   May Consumption                         0.0%         0.3%
     9:45   June Chicago PMI                       52.5         52.7
     9:55   June Michigan Sentiment (f)            74.1         74.1

Disclosure:No Relevant Positions

Thanks for checking  - Feel free to contact me regarding trading services, education and access to my daily online broadcast. a  great week trading!

Thursday, June 21, 2012

Professional Trading Opportunities:

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Please note that the risk of loss in trading can include possible loss of capital. System access and trade executions may be delayed or fail due to market volatility, system failure, high volume or other factors.
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(RHT) Earnings were not good enough

(RHT) MARKET TALK: Currency Contributes to Red Hat's Decline Jun 20 at 17:51
(RHT) Conference Call: Red Hat Sees Q2 Revenue Below Estimates, EPS in Line to Just Shy of Street Down 12% in Night Trade
(RHT) Red Hat weakness should be bought, says RW Baird Jun 21 at 07:50
(RHT) Red Hat pullback a buying opportunity, Citi lowered its price target for shares to $66 from $68
(RHT) Red Hat fundamentals not changed following Q1 results, says Lazard Capital
(RHT) Red Hat target lowered to $60 from $72  at BMO Capital Jun 21 at 07:54


Thanks for checking  - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

Tuesday, June 19, 2012

(JBL) Misses on earnings and warns (ADBE) comes in light on guidance

(JBL) Jabil Circuit sees Q4 $0.54-0.66 vs $0.67 Capital IQ Consensus Estimate; sees revs $4.1-4.35 mln vs $4.39 bln Capital IQ Consensus Estimate Jun 19 at 16:02
(ADBE)  Adobe narrows FY12 EPS outlook to $2.40-$2.46 from $2.38-$2.48
(ADBE) Adobe sees Q3 EPS 56c-61c, consensus 61c

(IDIX)  Idenix Announces Positive Clinical Data for HCV Drug Candidates; Shares Rise 3% After Hours

Disclosure: No relevant positions

WSJ (6/19) Penney Ousts President - Downgraded

(JCP) WSJ(6/19) Penney Ousts President Jun 18 at 20:00.

(JCP) J.C. Penney price target lowered to $23 from $28  at BofA/Merrill Jun 19 at 07:19
(JCP) J.C. Penney transformation remains on track, says Citigroup Jun 19 at 06:31
(JCP) J.C. Penney price target lowered to $28 from $32 at RW Baird Jun 19 at 07:52
(JCP) J.C. Penney price target lowered to $26 from $30 at Nomura Jun 19 at 08:36
(BAC) Bank of America: Strength attributed to Bloomberg story on FHFA suggesting
it will limit buyback demands on lenders (Stock Price: 8.08 Change: +0.33) Jun 19 at 10:06

Disclosure: Short (JCP) Pre Market

Monday, June 18, 2012

Mid Day Update - (FB) Holding solid gains

(FB) Well above 30, good relative strength most of the day, suspect to check $32.90 daily fib target this week.
(GRPN) Very strong on a MS upgrade
(P) stronger than the market mid day
(BAC) (GS) (C) (JPM) Great relative weakness in the banks today - suspect to recheck lows before the end of day

Disclosure: Short (BAC) 2 1/2 tier

Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

Sunday, June 17, 2012

S&P Futures open up $10 - Barron's Recap (NBR) Could Double

S&P Futures open up $10 points at 1347 then fill over $6 to $1340 after Greek Elections

 WASHINGTON (MarketWatch) — The pro-bailout New Democracy party is the projected winner of Sunday’s critical Greek parliamentary elections, increasing the probability that Greece will remain in the euro zone.

Barrons's Recap:

(NOK) Nokia could trade closer to its $1/sh in cash in months to come, Barron's say
(AAPL) Apple's iOS6 dazzles investors at developers conference, Barron's reports
(OSJ)  (TNK)  Portfolio manager Athey finds opportunity in  unpopular stocks, Barron's says
(TM) Money manager Merner sees compelling values in Japanese stocks, Barron's says
(NBR) Nabors Industries' beaten-down shares could double, Barron's contends
(PM) Russo favors companies with global reach, recognized brands, Barron's says
(DG) Dollar General's CFO sold $2.39M in stock, Barron's reports Jun 17 at 08:28
(SLB) Analysts contend that it's time to buy oil stocks again, Barron's reports

DISCLOSURE: No Relevant positions

Happy Fathers Day to all the Dads out there - Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

Friday, June 15, 2012

Mexico's Carlos Slim Buys 8.4% Stake in Argentina's YPF

(YPF) SA overall volatility closed at 69 into Carlos Slim reporting 8.4% stake Jun 15 at 07:19

(YPF) SA overall option implied volatility closed at 69; above its 26-week
average of 61 according to Track Data, suggesting larger price movement into
Carlos Slim Hel? reporting a 8.4% passive stake in the company.

DISCLOSURE: Short (YPF) pre market

Thursday, June 14, 2012

Pre Market Movers

(SFD) Smithfield Foods Misses Q4 Earnings Expectations, OKs Stock Buyback - Down 4% in Pre-Bell Trade Jun 14 at 07:30
(IGT) Announces New $1 billion Share Repurchase Authorization and $400 million Accelerated Stock
Buyback Jun 14 at 08:00 - Down $5.00 in the pre market on low volume
(KR) Kroger Reports First Quarter 2012 Results Jun 14 at 08:30 Small Beat Small raise
(DDD) 3D Systems Public Offer of 3.7M Shares Prices at 8.7% Discount Jun 14 at 07:14
 Shares were down 4.6% at $28.19 in light premarket trading, but up from the offering's price of $27 each.
(JVA) Coffee Holding target lowered to $10 from $15  at Roth Capital Jun 14 at 08:44

 DISCLOSURE: No relevant positions

Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast. 

Wednesday, June 13, 2012

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(NUE) Bad Earnigs Guidance Warn - Trades off pre market

(NUE) Nucor sees Q2 EPS $0.44-0.49 (ex-$0.09 impairment charge) vs $0.55 Capital IQ Consensus Estimate and prior guidance of a modest QOQ improvement from$0.46 in 1Q12Jun 13 at 08:04

(END) Endeavour Prices Public Offering of Common StockJun 13 at 09:18 - 7.5 million shares of its common stock at a price to thepublic of $7.50 per share.


Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

Tuesday, June 12, 2012

(DELL) in motion post market - Announces Dividend

(DELL) Dell Adopts Qtrly Div Beginning in 3Q, Expects Rate at 8c Per Quarter

(CASY) Casey's General prelim $0.61 vs $0.67 GAAP Capital IQConsensus Estimate; revs $1.75 bln vs $1.75 bln Capital IQConsensus EstimateJun 12 at 16:00

(LAKE) Lakeland Industries retains Raymond James & Associates to explore strategic alternatives (Stock Price: 7.26 Change: -0.28) Jun 12 at 16:02. HALTED -  (LAKE) resumes at 4:30

(END) Endeavour Announces Public Offering of Common Stock Jun 12 at 16:13

(PRU) Prudential Financial OKs Share Repurchase Of Up To $1 Billion Jun 12 at 16:20 Profile hits: QU1

(SMG) ScottsMiracle-Gro Provides Financial Update for Fiscal 2012 Jun 12 at 16:23 Scotts Miracle-Gro Will Be Short Of FY12 Sales Growth ForecastOf 6%-8% Growth BIG MOVE LOWER IN THE POST - News traders in the online trading room did well on the headline...

Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

(AAPL) Target raised $800 (JPM) knew of risks two years ago

(FNSR)  (CIEN) Ciena's differentiated position should continue to help CIEN shares outperform - Needham (Stock Price: 14.11) Jun 12 at 06:16

(AAPL)  Apple target raised to $800 from $775 at Canaccord Genuity (Stock Price: 571.17) Jun 12 at 07:15

(JPM) JPMorgan knew of risks two years ago, WSJ reports Jun 12 at 06:06

(CIEN) (FIO) Cisco could become 10% customer for Fusion-io, says Piper Jaffray Jun 12 at 06:38

(JNPR)  Juniper Networks Up 1.5% on New Common Stock Repurchase Authorization of up to $1 Billion

(KORS) UPDATE: Michael Kors Holdings Surges 13%; Tops Q4 Estimates, Sees Q1, FY 2013 Beating  Street Views

DISCLOSRE: Short (JPM) (BAC) Pre Market

Monday, June 11, 2012

(FB) goes plus to minus in the early pre market

(FB) Facebook defended at Needham; reiterate $40 tgt (Stock Price: 27.10)
(FB) Facebook user growth slows, WSJ reports Jun 11 at 07:10
(UA) Under Armour Announces a Two-for-One Stock SplitJun 11 at 08:00

DISCLOSURE: Short (FB) (BAC) (JPM) (C) pre market

Sunday, June 10, 2012

S&P Futures open up 15 handles at 1344 - Big gap up in equities on tap for tomorrow

Barron's Recap - The Week Ahead

(Z)  Zillow's shares seem overvalued given its decelerating growth, Barron's reports
(ESRX)  Express Scripts could return to $60/share, Barron's reports
(ERIC) Ericsson is benefiting from the growth in data transmission, Barron's reports
(TWX) Time Warner looks like a 'good bet', Barron's says
(MCD) McDonald's long-term investors should see "juicy returns", Barron's says Great Trade Long On Friday's same store weakness. Fridays AM Blog post mentioned we were long on this event pre market - Mickey Dee's traded up nicely all day for handsome profit's.
(TPX) A Return Visit To Earlier Stories: The Nightmare At Tempur-pedi
(GLW) Barron's(6/11) The Striking Price: Raise A Glass To Corning - New paper thin glass announced Already, Corning's Gorilla Glass is used in 750 million devices, including the Galaxy S III smartphone from Samsung.  Apple's (AAPL) iPhones also reportedly use Gorilla Glass. Maybe  Corning's customers will use Willow Glass in new devices.
(FB) WSJ (6/11) Days Of Wild User Growth Appear Over At Facebook Jun 10 at 19:55

COVER STORY: Barron's Roundtable panelists see gains for careful stockpickers
  Some Roundtable panelist picks: WFC, PFE, GIL, EMR, JPM, TMO, MSFT, JNPR, MUR, QCOM, TCAP, SI, SNY, GET, K, SMBL, PBY, NFG, GG, XRX, CVA, AEM, HL and Gold.

       8:30   May Retail Sales                       -0.2%         0.1%
      10:00   April Business Inventories              0.3%         0.3%
Th   8:30   May CPI                                -0.2%         0.0%
F     9:15   May Industrial Production               0.1%         1.1%
       9:15   May Capacity Utilization               79.2%        79.2%
       9:55   June Michigan Sentiment                77.5         79.3

DISCLOSURE: No Relevant positions

Thanks for checking and have a great week trading - Feel free to contact me regarding trading services, education and access to my daily online broadcast.

Friday, June 8, 2012

Pre Market Movers

(CVU) CPI Aero Announces Pricing of Common Stock Offering  today announced the pricing of its previously announced underwritten public offering of 1,305,000 shares of its common stock at a price to the public of   $12.00 per
(MCD) McDonald's Shares Fall 2.7% Premarket On May Comparable Sales Jun 8 at 08:04
Chesapeake Energy to Sell Midstream Assets for $4 Bln; Shares
Up 1.5% in Pre-Market


Thursday, June 7, 2012

Floor Chatter - Mid Day Update

Pre Market Mover's - (LULU) Guides Lower

(LULU) lululemon athletica beats by $0.02, beats on revs; guides Q2 EPS, revs below consensus; raises FY13 guidance, below consensus (Stock Price: 70.02) Jun 7 at 07:23
(SINA) SINA upgraded to Outperform at Oppenheimer; tgt $70 (Stock Price: 54.58)
(MW)  Men's Wearhouse misses by $0.01, misses on revs; guides Q2 EPS below consensus; reaffirms FY13 EPS guidance (Stock Price: 35.57 Change: +0.65) Post market Range last night was $35-$26.50
(TPX) TPX: Lower Target - JAGNote by Longbow Jun 7 at 08:40
(TPX) TPX: Lower Target - JAGNote by Stifel NicolausJun 7 at 08:40
(TPX) TPX: Downgraded - JAGNote by Wedbush Morgan SecuritiesJun 7 at 09:05Profile hits: QU2


Wednesday, June 6, 2012

Pre Market Movers

(FB)  Facebook seeks more revenue from mobile ads, WSJ reportsJun 6 at 06:04
(FB) Facebook Started At Mkt Outperform By JMP Securities >FBJun 6 at 07:49 - The firm initiated coverage of the shares with a Market Outperform rating and price target of $37.
(TPX) Tempur-Pedic on call regarding Q2 warning/FY12 guidance cut -- Intense competition taking share (Stock Price: 43.67) Jun 6 at 08:55 - Sympathy Plays (ZZ) (SCSS)


Tuesday, June 5, 2012

Tonights Post Market News Events

(OXM) nice EPS report across the board
(ULTA) small beat - small raise - Trading higher in the post market
 penny or 2 raise,
(MA) MasterCard's Board of Directors Announces Quarterly Dividendand $1.5 Billion Class A Share Repurchase Program Jun 5 at 16:12
(MIND) is light, getting hit lower in the post market
(MFRM) Mattress Firm beats by $0.07, misses on revs; issues Q2EPS guidance, revs in-line; raises FY13 EPS guidance,guides revs in-line Jun 5 at 16:12 - Trading off $4.30 at $31

(DG) Dollar General - Pre Market Mover

(DG) Dollar General: FBR Capital's 1Q12 review -- Fundamentals remain strong; pressure from secondary should be temporary (Stock Price: 48.49)
 FBR Capital notes sales trends remained strong as the EPS beat was driven
by comp sales of 6.7% vs. the Street consensus 5.1%. They believe the raised
guidance is very achievable, and they would not be surprised to see DG
ultimately deliver above the range. Shares are likely to see temporary pressure
due to the concurrent announcement of a 25M share secondary offering by DG's
legacy private equity holders. Given the current fundamental strength, and their
belief that trends are likely to remain strong, they would accumulate shares,
especially if there is any weakness. They see the downside as very limited. DG
is at $46.96 in the premarket

(DG) MARKET TALK: Dollar General Drop Called Opportunity By BMOJun 5 at 07:56
Profile hits: NONE
 7:56 - Dollar General (DG) off 3.6% to $46.75 premarket after F1Q
earnings rose 36%, but the deep discounter unveiled plans for a secondary
offering and did not raise its 3%-5% full-year comparable-store sales guidance
following a 6.7% increase in 1Q. BMO Capital Markets recommends buying on the
weakness. "We think management is just being cautious in its outlook based on
better weather that could have pulled forward sales as well as the uncertain
macro (economic) environment, and we look for 4% to 5% comp growth in the
remaining quarters," firm says. "Further, we expect the company to hold an
upbeat analyst meeting" on June 26. (

(DG) Dollar General: Hearing target raised to $60 from $51 at boutique firm following Q1 results (Stock Price: 48.49) Jun 5 at 08:56

(DG)  Dollar General price target raised to $60 from $51 at Buckingham Jun 5 at 08:55
Profile hits: QU2


Monday, June 4, 2012

Floor Chatter - Mid Day 6/4/2012

Pre Market Movers - (FB) Initiated w a Sell

(BAC) Bank of America Raised To Overweight From Equalweight By Evercore Partners >BAC
(BAC) BofA Told of Merrill Losses before Deal, Crt Documents Show NYT Jun 4 at 07:42
(FB) FB: Initiated - JAGNote by BernsteinJun 4 at 07:30 FB: Initiated - The firm initiated coverage of the shares with a Underperform rating and price target of $25.

Sunday, June 3, 2012

Facebook isn't a scam as some investors have claimed, Barron's contends Jun 3 at 18:47

 Barron's Technology Trader columnist Tiernan Ray, says Facebook (FB) is
real, but its stock is simply way overvalued at about 60x this year's projected
profit. Thus, it's a focus of dissatisfaction and sheer confusion, Ray says.On
or around June 26, Facebook's bankers will be freed to initiate coverage of the
stock. Then we'll see just what they were whispering to some clients during the
roadshow, Ray notes. The first of a series of lock-up expirations comes in
August- bringing as many as 268M new shares to the market. If investors want to
see the impact of vastly more supply, Ray said to look at Internet coupon
purveyor, Groupon (GRPN). The stock fell 9% on Friday as the lockup expired
following its November IPO, freeing up 93% of the shares for future sale.
Groupon's now 63% below its stock's first-day close of $26.11.

S&P Futures open up sharply lower! - well thru Fridays Lows down over 10 handles...

Weekend Barron's Highlights - Weekly Preview

(FB) Facebook isn't a scam as some investors have claimed, Barron's contends
Jun 3 at 18:47
(GE) General Electric investors have been slow to warm to CEO Immelt, Barron's says
Jun 3 at 18:13
(EPD) The allure of MLPs is getting stronger, Barron's contends
Jun 3 at 18:05
(NILE) Blue Nile could rally as gem prices stabilize, earnings improve, Barron's says
 Jun 3 at 18:03
(DECK) Barron's(6/4) UGGs Still Have Legs - COVER STORY
Jun 2 at 00:09

DISCLOSURE: No positions

  Coming Earnings

 Day                    Quarter  Consensus   Year   Ticker
                                  Estimate    Ago
Quanex Building Prod      2Q      $-0.07    $0.03    NX
Shuffle Master            2Q        0.20     0.14    SHFL
JDA Software Grp          1Q        0.57     0.45    JDAS
Bob Evans Farms           4Q        0.74     0.72    BOBE
Oxford Industries         1Q        1.07     1.16    OXM
United Nat Foods          3Q        0.56     0.48    UNFI
Christopher  &  Banks     1Q       -0.09             CBK
Men's Wearhouse           1Q        0.55     0.53    MW
Analogic                  3Q        0.62     0.35    ALOG
Measurement Special       4Q        0.44     0.53    MEAS
Brown-Forman 'B'          4Q        0.76     1.13    BFB
Greif Brothers 'A'        2Q        0.74     1.04    GEF
Cyberonics                4Q        0.35     0.26    CYBX
Pall                      3Q        0.80     0.72    PLL
Cooper Co                 2Q        1.20     1.02    COO
Smucker (J.M.)            4Q        0.99     1.00    SJM
UTi Worldwide             1Q        0.16     0.13    UTIW
Agilysys                  4Q       -0.05    -1.97    AGYS
Comtech Telecomm          3Q        0.24     0.47    CMTL
Altera                    1Q        0.36     0.68    ALTR
Bio Reference Labs        2Q        0.32     0.26    BRLI
Quiksilver                2Q        0.02     0.09    ZQK
Piedmont Natural Gas      2Q        0.71     0.66    PNY
Oracle                    4Q        0.78     0.75    ORCL

(Earnings are diluted and report dates are tentative. All forecasts and

      historical numbers exclude extraordinary items by accounting definitions.)

Source: Thomson First Call

                    Consensus Estimate

Day   Time

                                                 Consesus Est  Last Period

M   10:00   April Factory Orders                   -0.2%        -1.5%
W    8:30   Q1 Productivity (Final)                -0.7%        -0.5%
Th  15:00   April Consumer Credit                 $10.65 bil   $21.36 bil
F    8:30   April International Trade            -$49.50 bil  -$51.83 bil
    10:00   April Wholesale Inventories             0.5%         0.3%

Unless otherwise indicated, times are Eastern. f-Final; p-Preliminary; r-Revised
Source: Bloomberg