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EQUITY LETTER

TUESDAY JUNE 3  2008 CLICK     HERE TO SEE ECONOMIC         CALENDAR BELOW

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Standard & Poor's Announces Change to U.S. Index

S&P 400 + MVL - CGI Date TBA

Economic 
10:00 Factory Orders (Apr.): 0.1% cons

ICSC-UBS Store Sales
 [Bullet] 7:45 ET 
Redbook
 [Bullet] 8:55 ET 
Factory Orders
[Consensus]
 [Bullet] 10:00 ET

TOP FINANCIAL NEWS
STT State Street announces $2.5 bln common stock offering
BUSINESS NEWS
After Hours Summary: CELG +1.3% (announced primary endpoint of the study were met); TMA -10.6% (announces further delay of reporting earnings; receives receipt of NYSE non-compliance notification)
Companies trading higher in after hours in reaction to earnings
NCS
+14.1%... 
Companies trading down in reaction to earnings
 LULU -11.2%; SEED -10.7%; MIND -8.0%; CMOS -1.9%; TMRK -0.8%...
Companies trading higher in after hours in reaction to news
 CRTX +6.2% (completes Phase II clinical trial for zileuton injection); NI +5.1% (unit announces purchase of Sugar Creek generating facility for $330 mln; reaffirms net operating earnings of $1.25-1.35 for the period of 2008-2010); MVL +2.5% (will replace The Commerce Group); CSC +2.3% (awarded DISA ENCORE II contract to provide IT services across all military services, Department of Defense and other Federal Agencies); BCE +1.9% (confirms Supreme Court of Canada grants leave to appeal); TMO +1.6% (announces acquisition of Chemito Technologies); ACUR +1.5% (announces active IND for second opioid analgesic product candidate using aversion technology); CELG +1.3% (announced data from two phase II clinical studies of amrubicin; Results of the studies demonstrated improved overall response rates, primary endpoint of the study was met); MT +1.0% (to raise South Africa steel prices as much as 6%, price increase will occur next month -- Bloomberg); ALCO +0.9% (to discontinue ethanol efforts)... 
Companies trading lower in reaction to news
 TMA -10.6% (announces further delay of reporting earnings; receives receipt of NYSE non-compliance notification); GDP -1.9% (files for ~908K share of common stock shelf offering); SNH -1.9% (announces proposed public offering of 10 mln common shares); STT -1.7% (announces $2.5 bln common stock offering) IMO -1.6% (Will seek acceptance to continue its existing share repurchase program -- DJ); CAL -1.4% (reports May 2008 operational performance); RKT -0.6% (announces $55/ton price increase on linerboard and corrugating medium).

Earnings

      Before: GMTN, HGG, LAYN, NOOF, SGK, TOL

 After: BOBE, CPRT, DMND, GES, HOV, TUTR, SAI

     Events

     ALTR Mid-Q Update

    ATAC Investor Day

    CNC Analyst Meeting

    LRE Analyst Meeting

    INFA Analyst Meeting

    THC Healthcare Analyst Meeting

 CAR, DTG, CAKE, RT, WYN at Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conf.

   EYE, SIRO at FTN Midwest Health Care Corporate Access Conf.

   ITW, DHR, MTW, NOC, UTX, ETN, CTX at JPMorgan Basics & Industrials Conf.

   JP Morgan Basics & Industrials Conf.

   MCK, MYL at UBS Healthcare Supply Chain Conf.

   OLN, SRT, BECN, VLTR, SXE at Sidoti & Company, LLC 5th Annual Emerging Growth Institutional Investor Forum

   PXD, FTI, NE, RIG, TDW at RBC Capital Markets Energy Conf.

   SO at Lehman Brothers Global Warming Solutions Conf.

   VZ, CREE, RFMD, DRIV, FFIV, WIND at Oppenheimer & Co. Annual Communications & Technology Conf.

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2008 U.S. Economic Events & Analysis

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Monday  Jun  2 
 
 

 
 

2-Year Note Settlement

5-Year Note Settlement


 
 
 
 

 
ICSC-UBS Store Sales
 [Bullet] 7:45 ET 

Redbook
 [Bullet] 8:55 ET 

Factory Orders
[Consensus]
 [Bullet] 10:00 ET 

4-Week Bill Auction
[Bullet] 1:00 ET 

52-Week Bill Auction
[Bullet] 1:00ET

 
 
 

 
 

 
 
 
 

Weekly Bill Settlement

 
Monster Employment Index
 [Bullet] 6:00 ET 

BOE Announcement
 [Bullet] 7:00 ET 

ECB Announcement
 [Bullet] 7:45 ET 

Jobless Claims
[Consensus]
 [Bullet] 8:30 ET 

EIA Natural Gas Report
 [Bullet] 10:30 ET 

3-Month Bill Announcement
[Bullet] 11:00 ET 

6-Month Bill Announcement
[Bullet] 11:00 ET 

Treasury STRIPS
[Bullet] 3:00 ET 

Money Supply
 [Bullet] 4:30 ET 

 
 
 

 
 

 
Employment Situation
[Consensus]
 [Star] 8:30 ET 

RBC CASH Index
 [Bullet] 9:00 ET 

Wholesale Trade
 [Bullet] 10:00 ET 

Consumer Credit
[Report]
 [Bullet] 3:00 ET 

 
Equity Settlement
06 -05 -2008
Equity Settlement
06 -06 -2008
Equity Settlement
06 -09 -2008
Equity Settlement
06 -10 -2008
Equity Settlement
06 -11 -2008

 

the market

MARKET UPDATES

Advanced Sectors Sectoring by Industry Group

BUSINESS WEEK MARKET ANALYSIS

 By Paul Cherney

 Economic Indicators

Top Ten Online Business Newspapers

     1. The New York Times
     2. USA Today (money)
     3. The Washington Post (business)
     4. Los Angels Times (business)
     5The Boston Globe (business)
     6Financial Times
     7Houston Chronicle (business)
     8The Seattle Times (business)
     9Chicago Tribune (business)
   10San Francisco Chronicle (business)