Ebbers’ Sentenced, Plus, Big Blue Jumps 2%–Here’s Why

Stocks are slightly higher after some surprising
economic data.

The EIA reported that crude inventories fell 3.9 million barrels, more than
expected; gasoline stocks fell 2.7 million barrels; distillate stocks rose 3.2
million barrels.

The trade deficit for May narrowed unexpectedly to $55.3 billion. The April
number was revised to $56.9 billion.

Abbot Labs
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Harley Davidson
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expectations. The company guided earnings growth higher. The stock is trading
higher pre-open.

Gannett
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Sanford Bernstein raised its rating on IBM, to outperform from market
perform.

According to the Financial Times, CNOOC may sweeten its bid for
Unocal. The Chinese government owns 70% of CNOOC.

Former Secretary of State Colin Powell will join Kleiner Perkins
Caufield & Byers on a part-time basis. The Silicon Valley firms has high profile
clients such as Compaq and Amazon.

Former Worldcom CEO Bernard Ebbers was sentenced to 25 years to life
in prison. Worldcom was the biggest bankruptcy in U.S. history. Ebbers is 64
years old, and is appealing the decision. Ebbers was ordered to report on
October 12 to a minimum security prison in Yazoo City, MS, near his home.

The White House said the federal deficit should fall to $333 billion
in the current fiscal yaer, down from the record $412 billion in fiscal 2004.

      

Altria
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HCA Inc.
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CSFB raised estimates and price target on Lehman Bros.
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Resources Connect
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Majesco
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