The Morning Market

It’s a quiet morning so far. The major indexes are up slightly. On CNBC, David Faber followed-up on yesterday’s news that Biomet (BMET) had hired Morgan Stanley. Faber said that the stock’s move was perhaps a bit overdone. Many firms are holding to their price targets. The last big deal in the sector was Zimmer’s deal for Centerpulse, which went for 15 times “enterprise value.” Just because the Biomet hired Morgan doesn’t guarantee that it will be sold. Perhaps the CEO simply wants to have the company looked over thoroughly.
In other news, Apple (AAPL) released a patch that let its Intel-based Macs run Windows. The new software is called “Boot Camp.” For the record, my suggestion was “Band Camp.” Samsung said that it will sell the thinnest cellphone in the U.S., just 9.8 millimeters wide.
Autodesk (ADSK) backed its 2007 view of $1.12 to $1.17 a share. Also, St. Jude Medical (STJ) cut its first-quarter estimate. The company says that Guidant (GDT) is to blame. Monsanto (MON) reported record earnings of $1.60 a share, nine cents more than estimates.
Commodities continue to soar. Zinc and Copper are at all-time highs. In China, the yuan made another post-revaluation high.
And lastly, Katie Couric is leaving the “Today” show to take over the CBS evening news.

Posted by on April 5th, 2006 at 9:48 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.