Tuesday, March 28, 2006

Morning News

Morning News of Note:
  • C: Citigroup Likely To Make a Play For Turkish Bank Citigroup Inc.'s Charles Prince is considering making a big bet on Turkey. A year after the Federal Reserve effectively barred Citigroup from doing any "significant" merger deals, the Citigroup chief executive is expected to submit a final cash bid to acquire some or all of Finansbank, Turkey's eighth-largest bank by assets, in a transaction that could be valued at $5 billion or more, according to people familiar with the matter (Full Story) WSJ
  • CME: Oil Fight: CME to Launch Its Own Energy Futures The Chicago Mercantile Exchange said it plans to launch a raft of energy-futures products in June, targeting the market share of the New York Mercantile Exchange and IntercontinentalExchange Inc. While market observers had long expected the Merc to unveil its energy slate after June 17, when the exchange's noncompete agreement with the Nymex expires, the Merc has until now shied away from confirming a timetable. (Full Story) WSJ
  • VZ GOOG: Verizon SuperPages.com joins Google AdWords Google and Verizon SuperPages.com have signed a deal under which the classified ad provider will help its tens of thousands of marketers get ads onto Google search result pages, the companies said Monday. "We're pleased Verizon is an authorized AdWords reseller and helping local small businesses take advantage of the opportunities of search advertising," Google said in a statement. (Full Story) CNET
  • INTC: Intel Corp to attempt to control clone desktop market with "Cedar Wood"-DigiTimes. Intel Corp (INTC) will attempt to take complete control of the clone desktop PC market with its "Cedar Wood" program with initial partners including motherboard makers AOpen, Gigabyte Technology and Micro-Star International and distributor Synnex Technology International (SNX). The "Cedar Wood" program, which aims at reviving the clone desktop PC market, is similar to Intel's "Mobile Alliance" program set to launch at the end of this month
  • OVTI: OmniVision may start production of 3-megapixel image sensor this year-DigiTimes. According to executive VP Raymond Wu, OmniVision Technologies (OVTI) will be able to begin "volume production of its 3-megapixel CMOS image sensor with omni-focus functionality" by the end of the year. This was made possible by the company's acquisition of CDM Optics last year
  • XOM BP: Oil sector mergers totaled $160B in 2005-FT.com. Mergers and acquisitions in the oil and gas industry tripled in value last year to $160B - the highest level since the boom year of 1998 when Exxon and Mobil merged to form XOM, BP took over Amoco, and Total bought PetroFina. The study by Harrison Lovegrove, the U.K.-based corporate advisers, and John S. Herold, the U.S. research firm, is widely regarded by the industry as the most comprehensive report on M&A activity in the sector. It is expected to show that last year oil companies were willing to pay 54% more for acquisitions in North America as executives bet that high oil prices were here to stay. Acquisition prices in the rest of the world shot up 350%
  • Mad Money Summary: Cramer opened his show discussing making money in ethanol. He reminded viewers that he previously recommended Archer Daniels Midland (ADM), which is up to $35 from $23. He said it's time to get out of Archer and get into The Andersons (ANDE), a "smaller, faster, cheaper company." Cramer then recommended Macquarie Bank (MBL.AU), a stock listed on the Australian exchange. Cramer then reminded viewers not to buy stocks in after hours trading and told viewers to do their homework on any company he recommends before buying. He also stressed using limit orders. Then Cramer spoke with Charles Kleman, the CFO of Chico's (CHS), and told viewers he could not recommend the stock as a Buy. In the Lightning Round, Cramer was bullish on Cephalon (CEPH), Vasco Data (VDSI), Mannkind (MNKD), Applied Micro Circuits (AMCC), Ciena (CIEN), Bookham (BKHM), JDSU (JDSU), Finisar (FNSR), Mindspeed (MSPD), MRV Communications (MRVC), General Dynamics (GD), Commerce Bank (CBH), Neoware (NWRE), Las Vegas Sands (LVS), Cisco (CSCO), Tellabs (TLAB), Valero (VLO), Intermagnetics (IMGC), Acadia (ACAD), and Texas Roadhouse (TXRH), and was bearish on ViroPharma (VPHM), New York Community Bancorp (NYB), Wynn Resorts (WYNN), Allscripts Healthcare (MDRX), Lucent (LU), Sirius Satellite Radio (SIRI) and Tim Hortons (THI).

long C, GOOG, INTC


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