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Wednesday Morning Coffee with TradingMarkets
By David Penn | TradingMarkets.com | May 7, 2008
Good Morning!

Obama Wins North Carolina ...Clinton Edges Obama in Indiana ... 60,000 Feared Dead in Myanmar Cyclone Disaster ... Sprint Nextel To Combine High Speed Network with Clearwire ... Bernanke Urges Fed to Pay Interest on Bank Reserves ... News Corp., Westwood One Report After the Close ... U.S. Productivity Up on Lower Than Expected Labor Costs ...

Asian stocks up ... European stocks up ... The dollar is moving higher against the Euro, Japanese yen ... And the futures are trending lower in the hour before the bell.

Take the TradingMarkets Path to Professional Trading - Level 1 course and immediately improve your trading. It's free!

TradingMarkets 5 Business Stories You Need to Know

Cisco Meets Lowered Expectations - CNN Money
Profits down but sales up for Cisco.  After an initial after-hours bump, shares of Cisco slumped on CEO Chambers' conservative guidance for the fourth quarter.

UBS Faces Tax Evasion Probe - Bloomberg
Federal investigators looking into possible tax evasion only add to the woes at European bank, UBS.

A Rally in the Greenback? - Bloomberg
Fears of inflation and the potential for higher interest rates in the United States helped the dollar gain on the Euro in recent trading.

Blodgett Doubts Future Microsoft/Yahoo Deal - Silicon Alley Insider
Shares of Yahoo! were higher on speculation that Microsoft would return to the bargaining table.  Not so fast, says former analyst Henry Blodgett.

Disney: Parks, Motion Pictures and Profits - BBC News
Theme parks, "National Treasure 2" help boost Disney profits by 22% for the quarter ended March 29th.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

  • Cisco (CSCO | news | PowerRating | PR Charts ) reported earnings of $0.38 after the close on Tuesday, beating estimates by two cents.

  • With quarterly EPS of $0.58, Walt Disney (DIS | news | PowerRating | PR Charts ) handily beat Wall Street estimates.

  • Bank of America (BAC | news | PowerRating | PR Charts ) announced that it planned to complete its take over of Countrywide Financial despite an analyst report critical of the takeover.

  • Continued weakness in the homebuilding sector led to lower profits for Vulcan Materials (VMC | news | PowerRating | PR Charts ), which was down 3.7% after Monday's earnings miss.

  • Yahoo (YHOO | news | PowerRating | PR Charts ) closed higher today by more than 5% on speculation of resumed Microsoft negotiations or possible deal with Google..

  • Sara Lee (SLE | news | PowerRating | PR Charts ) reported EPS of $0.22, narrowly missing analyst estimates by two cents. Shares were down sharply on the day.

  • Legg Mason (LM | news | PowerRating | PR Charts ) reported a larger than expected quarterly loss of $1.81.  It was the company's first quarterly loss since going public.

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

Company
Symbol PowerRatings
Inter Parfums Inc. IPAR 9
Cavco Industries  CVCO 9
Wal-Mart Inc. WMT 8
Texas Industries  TXI 8
Netflix Inc. NFLX 8
View More Stocks

TradingMarkets Tracking the Wizards

UBS: Up or Down? - TradingMarkets
Do you think that UBS will close up or down on Thursday?   Play TradingMarkets Up or Down Daily Stock Contest and you could win over $11,000 in cash prizes for predicting the direction of a stock!

Trailing Stops and Profit Targets for Stock Traders - TradingMarkets
Learning how to exit trades properly is a key skill for stock traders to develop.  TM contributor Billy Fisher presents a few of the tools you'll need to build your own exit strategies.

Larry Connors Live Thursday at 1 pm - TradingMarkets
Join TradingMarkets CEO and co-founder Larry Connors and Senior Editor David Penn for their free weekly teleconference on today's stock market.  Find out how a professional trader buys and sells stock in this volatile environment.  Larry will also share new swing trading strategies you can use immediately to improve your results as a trader.

Click here to sign up for the Morning Coffee with TradingMarkets newsletter.


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