Quote of the Day

"Think of yourself as on the threshold of unparalleled success. A whole clear, glorious life lies before you. Achieve! Achieve!" -- Andrew Carnegie

Morning News of Note:

• AAPL INTC: Apple Is Poised to Shift To Intel as Chip Supplier Move Could Open Door To More-Powerful Macs; Cutting Long Ties to IBM Apple Computer Inc. and Intel Corp., long on opposite sides of one of technology's biggest divides, appear finally to be coming together. Apple, of Cupertino, Calif., has begun briefing some partners about plans to begin shifting its Macintosh computer line next year to Intel chips, according to industry executives and people familiar with the briefings. Apple has said it expects to announce the move today, these people said. The move would be a major change in strategy for Apple and a high-profile win for Intel, of Santa Clara, Calif. (Full Story) WSJ
• MSFT: Microsoft Agrees to Give Rivals Free Access to Software Microsoft Corp. agreed to give rival software firms free access to some of its software codes and full operability on its Windows-based servers, European regulators said Monday. The announcement is part of Microsoft's last-ditch effort to meet a June 1 deadline set by regulators to comply with last year's antitrust ruling. Under that ruling, Microsoft was fined ?497 million ($610.2 million) and ordered to produce a stripped-down version of its Windows operating system and license some of its source codes to run servers. (Full Story) WSJ
• EBAY: Time to Bid On: eBay The online auction colossus is expanding briskly and eyeing some big opportunities. With the stock down 35% this year, a nice rebound could be in store. LAST WEEK, EBAY HIT THE BID. In a deal designed to boost the online auction giant's flagging domestic growth rate, eBay agreed to pay $620 million in cash to acquire Shopping.com, which operates an online shopping-comparison service. It was the latest in a series of moves that have dramatically expanded eBay beyond its original business of providing an online auction market for collectibles. Via its 2002 acquisition of PayPal, for instance, eBay became a key provider of online payment services, competing with the credit-card companies. (Full Story) BARRONS
• PLD CDX: ProLogis Buys Catellus to Boost Distribution Centers ProLogis, a real estate investment trust owning warehouses and distribution centers, agreed to buy Catellus Development Corp. for $4.9 billion, the largest U.S. property transaction of the year so far. The price includes debts owed by San Francisco-based Catellus, ProLogis of Aurora, Colorado, said in a statement today. Catellus shareholders will be able to opt for a mix for ProLogis stock and cash or be paid a total of about $3.5 billion in cash. (Full Story) Bloomberg
• WM PVN: Washington Mutual to Buy Providian for $6.45 Billion Washington Mutual Inc., the biggest U.S. savings and loan, will buy credit-card issuer Providian Financial Corp. for $6.45 billion in stock and cash. Washington Mutual will pay the equivalent of $18.71 per share for San Francisco-based Providian, a 4.2 percent premium to the stock's closing price on June 3, Seattle-based Washington Mutual said in a statement today. Washington Mutual will pay for the acquisition through a combination of its own stock and cash. (Full Story) Bloomberg

Market Commentary: The market is opening fairly flat this morning. There aren't a lot of big economic reports this week. The big event will be Intel's mid-quarter update, as well as comments from Fed Chairman Greenspan this week. I continue to favor long positions, and would use pullbacks this week to add to positions.