The trouble with experience...
"The trouble with experience is that by the time you have it, you are too old to take advantage of it." - Jimmy Connors
Morning News of Note:
- GOOG: Google to Deliver Instant Messages The service may start as early as Wednesday, sources say. The firm will face tough rivals. Watchers of Google Inc. soon will have something new to chat about — and with. Continuing its rapid expansion into new product categories, the Internet search giant plans to launch an instant messaging program called Google Talk as early as Wednesday, according to people familiar with the service. (Full Story) LA Times
- MOT: Motorola gets FCC approval for iTunes phone According to documents posted to the Federal Motorola is one step closer to launching its long-awaited iTunes phone. Communications Commission's Web site on Saturday, Motorola has received regulatory approval to start selling a cell phone that runs a mobile version of Apple Computer's iTunes software A user manual posted on the FCC site shows that the Motorola E790 can run a cell phone version of iTunes and will contain stereo speakers, removable flash memory and Bluetooth technology for short-range radio communications with other devices. (Full Story) CNET
- CMCSA: COMCAST'S PITCH Flush from its success winning a National Hockey League television deal, Comcast's Outdoor Life Network is expected to wage an aggressive campaign to win rights to Major League Baseball and National Football League games that are now shown on rival ESPN. Comcast and OLN have their eye on the cable rights to a new package of Thursday and Saturday night NFL games and to a Sunday and Wednesday night baseball package including baseball's ratings-winning home run derby. (Full Story) NY Post
- TGT: Target-TGT sees August comps near the upper end of their 4%-6% range
Market Comments: Slightly down open this morning. The existing home sales report came in a little weak, and we know how housing-centric this economy has been. RBC raised its estimates for GOOG, calling the weakness a "fantastic buying opportunity".
long CMCSK, GOOG