El,
Still up to my neck in CPQ and CPQ puts. Still plan on making money on CPIG. It may take a little longer then we thought, but we will get there. Economic concerns not Compaq specific concerns kicking us in the rear today. Kumar still has a strong buy on Compaq so he can't be too concerned in the short run.
NW
ECONOMIC NEWS:
TODAY, June 8:
** U.S. adjusted CHAIN STORE SALES rose 0.1% in the week ended
June 5 compared to the prior week, according to the latest
BTM/Schroder chain store sales index. Retailers reported mixed
sales for the week, with discount stores above plan, wholesale
clubs slightly below plan, and department stores generally on
plan, the report said. See
infobeat.com
** The FEDERAL RESERVE BANK OF RICHMOND said on Tuesday its
manufacturing shipments index fell seven points in May to a
reading of 9, while its service revenues index rose one point to a
reading of 23. See
infobeat.com
** U.S. productivity rose a revised 3.5% in the first three months
of the year, slightly less than the estimated 3.7% gain, the Labor
Department reported Tuesday. U.S. NON-FARM PRODUCTIVITY -- a
measure of the time and effort needed to provide goods and
services -- initially rang in at 4% when the preliminary
statistics were released, slightly less than the 4.3% gain
registered in the fourth quarter of 1998.
** U.S. businesses stocked their shelves at a brisk pace in April,
while sales by wholesalers rose to a new record, the government
said Tuesday in a report indicating consumer spending still
strong. TOTAL INVENTORIES rose 0.2% in April to a seasonally
adjusted $288.96 billion after a rise of 0.2% in March, the
Commerce Department said. Total WHOLESALE SALES were a seasonally
adjusted record $221.87 billion, marginally up from $221.80
billion in March, which was the previous record.
** 2:40 p.m. EST: LJR/Redbook Research retail sales for the week
ended June 5. Consensus estimate: N/A. Prior report: +1.2%.
WEDNESDAY:
** 6:30 p.m. EST: ABC/Money consumer-comfort index for the week
ending June 6. Consensus estimate: N/A. Prior report: 27.
THURSDAY: Initial jobless claims for the week ended June 5; May
non-fuel price index.
FRIDAY: May purchase price index; May purchase price index,
excluding food and energy; May retail sales; May retail sales,
excluding autos; Mid-June University of Michigan consumer
sentiment index.
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