Building A Tradeable Bottom

Morning News of Note:

• WMT: Wal-Mart Weighs Ethanol-Fuel Sales At Its Gas Stations Wal-Mart Stores Inc. said it is exploring selling ethanol-based biofuel at its 380-plus company-owned gas stations, a move that could give a substantial boost to the alternative-fuels market. The Bentonville, Ark., retailer, which announced its intention to promote sustainability initiatives earlier this year, held an alternative-fuels summit in Washington last week to explore the feasibility of selling biofuels, specifically E-85, a blend of corn-based fuel, or ethanol, mixed with 15% gasoline. (Full Story) WSJ
• AMD ATHR BRCM: When the Chips Are Down but Not Out EVEN AFTER A 13% FALL in the Philadelphia Semiconductor Index in the last three months, there's probably more pain to come for chip makers. But there's also reason to start putting in limit orders to scoop up the best semiconductor stocks in the next couple of months – companies like Broadcom, Atheros, and even Advanced Micro Devices. (Full Story) BARRONS
• LVS: Big Bonuses Still Flow, Even if Bosses Miss Goals It was the kind of mistake that wage slaves can only dream of. Because of what the company called an "improper interpretation" of his employment contract, Sheldon G. Adelson, chairman, chief executive and treasurer of the Las Vegas Sands Corporation, received $3.6 million in salary and bonus last year, almost $1 million more than prescribed under the company's performance plan. (Full Story) NY Times
• GYMB: For Kids Clothing Chain, Mother Knows Best Thomas Filandro has spent 20 years following moms with strollers around shopping malls. He considers it part of his job as a children's apparel retail analyst. One of the things Filandro has found is that moms will hit almost every store in the mall that sells children's clothing until they find what they want. (Full Story) IBD
• AAPL: Briefly: Intel-based Xserve due this summer Apple's Xserve may find Intel processors inside of it ahead of any Power Mac upgrade, sources report. Intel is currently on track to deliver Woodcrest, the code-named successor to its Xeon processor targeted at servers, in June, and sources say Apple is eying the release of the first Intel-based Xserve around July. Apple's Power Mac systems, meanwhile, are expected to make the transition to Intel processors with the Core 2 Duo, code-named Conroe, for which Intel is targeting a July release. (Full Story) Apple Insider
• GOOG: Google Shoots Down Web Browser Rumors Google Inc. has no plans to develop its own Web browser software, contrary to some of the rumors surrounding the Internet search giant, said Chief Executive Eric Schmidt. In a conference call with Wall Street analysts, Mr. Schmidt said the company isn't working on its own browser because there are already plenty of "good browser choices" for surfers to choose from. Rather, Google will continue to partner with existing browser makers, he said. (Full Story) WSJ

Market Comments: The market is firm in early trading, as it continues to build some sort of base for what could be a tradeable bottom.

Bond yields are lower on the weaker than expected ISM report. The 10-year is currently near 5.10%. Oil is also lower (higher inventories reported), hovering just above the $70 level.

Stocks are mixed, with energy and commodity stocks lower and healthcare, tech, and retail mixed-to-higher.

Retail sales reports came out this morning, and were fairly solid. I will be back with a look at some highlights in my next post.

long GOOG