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WEDNESDAY JUNE 4  2008 CLICK     HERE TO SEE ECONOMIC         CALENDAR BELOW

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Economic

8:15 ADP Employment (May): -30K cons.

8:30 Productivity-Rev. (Q1): 2.5% cons.

     10:00 ISM Services (May): 51.0 cons.

     10:30 Crude Inventories: -8883K prior

MBA Purchase Applications
 [Bullet] 7:00 ET 
Challenger Job-Cut Report
 [Bullet] 7:30 ET 
ADP Employment Report
 [Bullet] 8:15 ET 
Productivity and Costs [Report] [Yellow] 8:30 ET 
ISM Non-Mfg Survey
[Report]
 [Bullet] 10:00 ET 
EIA Petroleum Status Report
 [Bullet] 10:30 ET

TOP FINANCIAL NEWS

Oil prices drop below $124 a barrel in Asia

BUSINESS NEWS
After Hours Summary: ABK -3.3% (S&P says Lorillard to replace Ambac in the S&P 500 – Bloomberg); YHOO +0.5% (files preliminary proxy statement for 8/1 shareholder meeting)
Companies trading higher in after hours in reaction to earnings
GES
+7.0%; DMND +3.1%; BOBE +2.1%; SAI +1.8%...  Companies trading down in reaction to earnings
 CHNR -2.7%; HOV -1.8%; TUTR -1.3%; NAVI -0.5%...  Companies trading higher in after hours in reaction to news: COMV +8.4% (announces 40-megawatt C&I demand response contract with Southern California Edison); LIZ +1.6% (downgraded to Speculative Grade; Outlook Stable at S&P); NDSN +1.5% (cquires remaining interest in Korean joint venture to expand service capability in growing Asia Pacific Markets); MOS +0.6% (anticipates reporting robust Q4 results in FY08 as strong demand and the tight supply situation continues for crop nutrients); YHOO +0.5% (files preliminary proxy statement for 8/1 shareholder meeting; recommends election of all of the board's nominees on the white proxy card and urges not to sign or return any proxy card sent by the icahn entities)... 
Companies trading lower in reaction to news
 TIBX -8.0% (preannounces Q2 EPS and revs below consensus); KRY -7.3% (President and CEO to resign; Board appoints interim CEO and President); ABK -3.3% (S&P says Lorillard to replace Ambac in the S&P 500 -- Bloomberg); NTAP -2.3% (to offer $1.1 bln convertible senior notes due 2013); GMTC -1.0% (Co and Rocky Mountain Industries sign agreement).

Earnings

Before: AMWD, CONN, BRLC, VIP, VOL, WSM

After:  ADCT, PSS, CMTL, DDMX, FCEL, GEF, MATK, QSII

      Events

       ECPG Analyst Meeting

      AXP, EFX, HTS, ACF, CIT, AHR at Keefe, Bruyette & Woods, Inc. Diversified Financial Services Conf.

      BLL, HON, TEX, WSO, AW, MWV at JPMorgan Basics & Industrials Conf.

      BOBE Analyst Meeting to discuss its 2008 results and 2009 outlook

      CBB to Webcast Investor Presentation

     CSL, KMT, LII, R, RBN at KeyBanc Transportation Conf.

      EXR, GRT, LXP, AKR, CRE, BXP at National Association of Real Estate Investment Trusts Investor Forum (Day 1 of 3)

      IVN, PAL, HL, CDE, PLM, SA at New York Society of Security Analysts Metals and Mining Conf.

      NFP Analyst Meeting

      SAFM, BRO, FLO, TSN, HRL, CALM, DRIV at Stephens Spring Investment Conf; SPR Investor Day

       T, NTEL, PWAV, SVVS, IBAS, TUNE at Oppenheimer & Co. Annual Communications & Technology Conf.

       V at UBS Electronic Payments Summit

       Atlanta Fed Pres Lockhart.

 

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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)