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ARTHUR J. GALLAGHER & CO. Add to My Watchlist

(NYSE: AJG)

Last Price	22.56 (12.07.09 6:40 PM EST)
Change (%)	- (-)
Volume	-
Open	-
Previous Close	22.56
Day High	22.56
Day Low	22.56
Bid	22.51 x 500
Ask	22.58 x 100

Average Volume	474,108
Shares Outstanding	101.80M
Market Cap	2.3B
Year High	26.02
Year Low	14.82
Earnings Per Share	1.25
P/E Ratio	18.0
Dividend	1.28
Yield	5.67

Intraday

3 Month

6 Month

1 Year

Symbol	Last	Change (%)
TMK	33.15	+0.00 (+0.00)
CVA	17.69	+0.00 (+0.00)
ADNIC	7.15	+0.00 (+0.00)
BRO	17.72	+0.00 (+0.00)
ORI	10.33	+0.00 (+0.00)
XL	18.07	+0.00 (+0.00)
WSC	346.75	+0.00 (+0.00)

Mon, Nov 30, 2009
	Arthur J. Gallagher & Co. Announces $150 Million Private Placement Debt Transaction - PR Newswire
Mon, Nov 23, 2009
	Arthur J. Gallagher & Co. Acquires Shuford Insurance Agency, Inc. - PR Newswire
Tue, Oct 27, 2009
	Arthur J. Gallagher & Co. Announces Third Quarter 2009 Financial Results - PR Newswire
Mon, Oct 26, 2009
	Arthur J. Gallagher & Co. Acquires Triad Insurance Agency, Inc. - PR Newswire
Thu, Oct 22, 2009
	Arthur J. Gallagher & Co. Announces Regular Fourth Quarter Dividend - PR Newswire
More Press Releases

Mon, Nov 30, 2009
	Arthur J. Gallagher & Co. (AJG) Completes $150M Senior Unsecured Note Private Placement Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=5146229 for the full story. - StreetInsider
Mon, Nov 23, 2009
	Arthur J. Gallagher acquires Shuford Insurance Agency See the rest of the story here. Theflyonthewall.com is Wall Street's specialist in breaking equity news. Veteran traders build a proprietary feed of news that's faster and more relevant than any other source. Try us for free and discover for yourself. - theflyonthewall.com
Fri, Nov 06, 2009
	Latest Ebitda Data for Gallagher Released by Ebitda News - StockTrendNews.com e...
Thu, Nov 05, 2009
	Annualized Revenue Comparisons for Gallagher and its Industry Now Available from T12_NEWS - StockTrendNews.com s...
Wed, Nov 04, 2009
	Free-Cash-News releases Free Cash Flow for Gallagher - StockTrendNews.com f...
More News

Wed, Aug 05, 2009

Insurance brokers mixed in earnings as MMC posts loss; AOC, AJG

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Wednesday, insurance brokerage group Marsh & McLennan Companies Inc. (MMC) reported a loss for the second quarter, after taking a hefty goodwill impairment charge related to the sale of its U.S. government security clearance screening business, Kroll Government Services, completed in the quarter. Net loss attributable to the New York-based company for the second quarter was $193 million or $0.37 per share, compared to net income of $65 million or $0.12 per share in the previous year. During the quarter, the company recorded non-cash goodwill impairment charges of $315 million, or $0.60 per share, related to the sale of Kroll, the results of which are included in discontinued operations.

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Loss from continuing operations was $162 million or $0.32 per share, compared to income of $55 million or $0.10 per share in the year-ago quarter. On an adjusted basis, earnings per share, excluding noteworthy items, were $0.33 compared to $0.39 per share in the preceding year. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimate typically exclude special items. In its immediately preceding first quarter, net income attributable to MMC totaled $176 million, compared to a loss of $210 million in the prior-year quarter. On a per share basis, earnings were $0.33, compared to a loss of $0.40 incurred in the same quarter of last year.

Among others in the industry, Aon Corp. (AOC) reported a year-over-year plunge in profit for the second quarter as the year-ago quarter had a significant gain from divestiture as well as a 4% decline in quarterly revenues. The Chicago, Illinois-based company reported net income of $149 million or $0.52 per share for the second quarter, about 86% lower than $1.13 billion or $3.71 per share in the prior-year quarter. Foreign currency translation decreased net income by $0.03 per share. Total revenues for the quarter declined 4% to $1.89 billion from $1.96 billion in the same quarter last year.

Another peer, Arthur J. Gallagher & Co. (AJG) reported a growth in second quarter profit helped by a modest increase in quarterly revenues. For the second quarter, net earnings of the Itasca, Illinois-based company improved to $43.8 million or $0.44 per share from $40.8 million or $0.44 per share in the same quarter a year ago. Revenues for the quarter grew to $453.6 million from $428.9 million in the prior-year quarter, surpassing Street estimates of $450.2 million. Marsh & McLennan shares are currently trading at $22.51, up $1.01 or 4.7%, on a volume of 1.75 million shares. In the past 52 weeks, the shares have been trading between $17.18 and $36.82 on the NYSE.

MMC revenues for the recent quarter declined 13% to $2.63 billion from $3.03 billion in the prior-year quarter. Underlying revenues, excluding fiduciary interest income, increased 2%. Nine analysts had a consensus revenue estimate of $2.76 billion for the quarter.

Segment-wise, total Risk and Insurance Services revenues decreased 5% to $1.34 billion from $1.41 billion a year earlier. Excluding fiduciary interest, underlying revenue increased 2%. The segment's operating margin increased to 18.2% from 10.6% and adjusted operating margin grew to 20.2% from 14.6% last year.

According to the company, insurance premiums in the property and casualty marketplace continued to decline during the quarter. In addition, the global economic recession reduced demand for commercial insurance, the company noted.

Total consulting segment revenues for the quarter were $1.14 billion, down 17% from $1.37 billion in the prior year, hurt by the impact of continued adverse global economic conditions. Operating income in the second quarter was $96 million.

Total revenues from Risk Consulting & Technology segment dropped 29% to $161 million from $266 million last year. During its first quarter, the company had posted revenues of $1.58 billion, down 13% from the previous year's $1.83 billion.

The company also recorded an investment loss of $31 million in the quarter, resulting from mark-to-market declines within the company's private equity fund investments.

For the six-month period, net loss attributable to the company narrowed to $17 million or $0.03 per share from $145 million or $0.28 per share in the same period last year. Adjusted earnings were $0.72 per share, down from $0.84 per share in the previous year. Revenues for the period declined to $5.24 billion from $6.06 billion in the earlier year. In addition, the company declared a quarterly dividend of $0.20 per share, payable in the third quarter of 2009. Brian Duperreault, president and chief executive officer said, "Overall, we have made excellent progress strengthening our operating companies while at the same time managing through the worst effects of the economic recession."

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Wed, Jul 29, 2009

Arthur J Gallagher reports profit gains, follows Aon and Marsh & McLennan; AOC, MMC, AJG

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Insurance brokerage Arthur J Gallagher & Co. (AJG) Tuesday reported a growth in second quarter profit helped by a modest increase in quarterly revenues. Boosted by higher commissions and fees, revenues for the quarter also came in above Street estimates.

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For the second quarter, net earnings of the Itasca, Illinois-based company improved to $43.8 million or $0.44 per share from $40.8 million or $0.44 per share in the same quarter a year ago.

Earnings from continuing operations was $43.8 million or $0.44 per share, compared to $41.7 million or $0.45 per share in the year-earlier quarter.

On average, thirteen analysts polled by Thomson Financial expected earnings of $0.43 per share for the quarter. Analysts' estimate typically excludes one-time items.

Revenue for the quarter grew to $453.6 million from $428.9 million in the prior-year quarter, surpassing Street estimates of $450.2 million.

Commissions for the quarter increased to $267.6 million from $246.0 million from the year-ago quarter. Fees grew to $180.8 million from $172.5 million in the comparable quarter last year. Investment income and others including brokerage and risk management, and financial services and corporate dropped from the prior year quarter.

Revenue from brokerage segment increased to $340.1 million from $312.2 million in the same quarter last year, helped by higher revenues from commission and fees. Risk management segment posted a revenues that dropped to $113.3 million from $115.2 million in the year-ago quarter. Financial services and corporate segment revenues was $0.2 million, compared to $1.5 million in the corresponding quarter last year.

In the immediately preceding first quarter, Arthur J. Gallagher reported a swing to profit of $26.4 million or $0.27 per share, driven by strong growth in revenues of Brokerage segment on acquisitions, as well as benefits from cost savings. Revenues for the quarter were up at $401.1 million.

Another player, Aon Corp. (AOC) posted a growth in first-quarter profit to $285 million or $0.97 per share, despite revenue of 3% to $1.85 billion, impacted by unfavorable foreign currency translations.

Insurance brokerage Marsh & McLennan Companies Inc. (MMC) , in its first quarter, reported a swing to profit of $176 million or $0.33 per share, as the year-ago results included a hefty non-cash goodwill impairment charge. Quarterly revenues dropped 13% to $1.58 billion.

For the quarter under review, expenses of Arthur J. Gallagher were $379.5 million, up from $359.6 million in the same quarter last year.

Patrick Gallagher, President and CEO said, "Despite these headwinds, we continue to see the benefits of our tuck-in acquisition strategy and cost savings initiatives in our expanding EBITDA margins. Even with a 0.3% decline in organic revenue in second quarter 2009 in our combined Brokerage and Risk Management Segments, we expanded the combined EBITDA margin 0.9% compared to the same period in 2008."

For the six-month period, net earnings surged to $70.2 million or $0.71 per share from $34.8 million or $0.37 per share from the prior-year period. Earnings from continuing operations was $72.1 million or $0.73 per share, compared to $58.0 million or $0.62 per share in the corresponding period last year. Revenues were up at $854.7 million, compared to $ 804.7 million in the year-ago period.

On June 19, 2009, brokerage Sun Trust Rbsn Humphrey Initiated a 'Buy' rating on Arthur J Gallagher shares, with a mean target of $22.38.

AJG closed Tuesday's regular trading at $22.60, down $0.11 or 0.48%, on a volume of 0.64 million shares. In the last 52-week period, the stock traded in the range of $14.82 to $30.00, with a three-month average volume of 0.94 million shares.

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Mon, Oct 27, 2008

This Week: Split Decision - FOMC & GDP on Tap - Wall Street Greek

Fri, Oct 26, 2007

Friday's Upgrades and Downgrades

UPGRADES
Riverbed Technology RVBD Janco Partners Mkt Perform » Buy
CEC Entertainment CEC Morgan Keegan Mkt Perform » Outperform
THQ Inc THQI Janco Partners Mkt Perform » Accumulate
Mattson MTSN Needham & Co Hold
Motorola MOT Oppenheimer Neutral » Buy
Arthur J. Gallagher AJG Bear Stearns Underperform » Peer Perform
Rightnow Tech RNOW Roth Capital Hold » Buy
Skechers USA SKX Brean Murray Hold » Buy
Harley-Davidson HOG Lehman Brothers Underweight » Equal-weight
Talbots TLB Citigroup Sell » Hold
Pacific Sunwear PSUN Citigroup Hold » Buy
Ormat Tech ORA HSBC Securities Neutral » Overweight
Willis Group WSH Citigroup Hold » Buy
Computer Task CTGX Boenning & Scattergood Market Perform » Market Outperform
Northrim Bank NRIM Friedman Billings Mkt Perform » Outperform

DOWNGRADES
OmniVision OVTI AmTech Research Buy » Sell
NVIDIA NVDA AmTech Research Neutral » Sell
Natl Oilwell Varco NOV Credit Suisse Outperform » Neutral
American Commercial Lines ACLI Morgan Keegan Outperform » Mkt Perform
Cadence Design CDNS Cowen & Co Outperform » Neutral
Eli Lilly LLY Oppenheimer Buy » Neutral
Triad Guaranty TGIC Bear Stearns Peer Perform » Underperform
Palm PALM Bear Stearns Peer Perform » Underperform
Euronet EEFT Citigroup Hold » Sell
Barrett Business BBSI JMP Securities Strong Buy » Mkt Outperform
Talbots TLB Piper Jaffray Outperform » Market Perform
PF Chang's PFCB Piper Jaffray Outperform » Market Perform
Sirenza Micro SMDI Piper Jaffray Outperform » Market Perform
Applied Materials AMAT RBC Capital Mkts Outperform » Sector Perform
NOVA Chemicals NCX RBC Capital Mkts Top Pick » Outperform
Sirenza Micro SMDI Jefferies & Co Buy » Hold
Kendle KNDL UBS Buy » Neutral
Cincinnati Fincl CINF KeyBanc Capital Mkts Buy » Hold
Vitran VTNC Stifel Nicolaus Buy » Hold
F5 Networks FFIV Stifel Nicolaus Buy » Hold
Celadon Group CLDN Stifel Nicolaus Buy » Hold
TranSwitch TXCC Dawson James Speculative Buy » Buy
Harman HAR Banc of America Sec Buy » Neutral
Symantec SYMC Robert W. Baird Outperform » Neutral
Merrill Lynch MER Wachovia Outperform » Mkt Perform
UAL Corp. UAUA JP Morgan Overweight » Neutral
Moody's MCO JP Morgan Neutral » Underweight
Merrill Lynch MER UBS Buy » Neutral

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Mon, Oct 22, 2007

The Greek's Week Ahead - The Last Nail in the Coffin

The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.

Just when you thought it could not get any worse, someone goes and finds that last nail to put in your coffin. That's life isn't it? I don't know who said it best, Frank Sinatra or Rocky Balboa, but it can always get worse can't it. Your best friend can let you down and your dog can bite you in the ass when you turn your back.

Last week, not to our surprise but clearly to the market's shock, Caterpillar (NYSE: CAT) offered up that bit of reality nobody wanted to chew on. Caterpillar announced not only that its U.S. business was in distress, but that global impact from U.S. woes and U.S. recession seemed all too possible. Nice timing too, on the anniversary of the infamous crash of 1987.

Traders are a superstitious lot, so it would not have taken much more than that to get the paper walls of the market's recent rise crumbling Friday. Still, the market was also digesting Honeywell's (NYSE: HON) penny earnings miss, September housing starts at levels not seen in 14 years, AND August foreign demand for long-term U.S. securities fleeting at a pace never seen. You could say we had a witches brew to churn.

If the market could not rely on the so called "global economy" or the consumer he had already begun to worry about, then what could he believe in? Well, maybe Ben Bernanke of all people. Treasury securities that had previously forecast just a small chance of a Fed follow up easing in a week, were now pricing in the strong likelihood of one. We are raising the odds here at the Greek as well. There may now be a 50/50 chance of a 25 basis point move on Halloween, but ironically, this decreased certainty could empower Fed inaction in driving the market sharply lower on the 31st. Increased expectation also increases impetus.

The Week Ahead...

Monday will most certainly start tentatively, considering Friday's frightening falloff. International market activity, and especially that of Mainland Chinese markets, will be closely monitored for U.S. market inspired decline. The annual meeting of the World Bank and International Monetary Fund could offer some news, as could addresses from Fed Governor Randall Kroszner and Fed President Charles Evans.

Earnings season will get right back into full swing, with notable reports from Apple (Nasdaq: AAPL), Halliburton (NYSE: HAL) and Merck (NYSE: MRK). Also, Kimberly-Clark (NYSE: KMB) will report for the third quarter fresh after announcing broad price increases. A full one-third of the S&P 500 Index is scheduled to report earnings this week. What's disgusting to us is that analysts are still predicting double-digit earnings growth in the fourth quarter, while the third quarter is currently looking like low-single digit growth. Come on guys, get on the ball! In my own experience, I was amazed at the incompetence of many analysts, especially those in supervisory positions. Too many were forecasting numbers without even an earnings model. While it must have been a nice life collecting a paycheck for nothing, I'm not sure how they could sleep at night.

The full schedule includes Albemarle Corporation (NYSE: ALB), Ambassadors Group, Inc. (Nasdaq: EPAX), American Express Company (NYSE: AXP), Apollo Group (Nasdaq: APOL), ArthroCare (Nasdaq: ARTC), Astec Industries (Nasdaq: ASTE), AU Optronics Corporation (NYSE: AUO), Banco Latinoamericano de Exportaciones (NYSE: BLX), Bank of Hawaii (NYSE: BOH), Brown & Brown (NYSE: BRO), Buckeye Technologies Inc. (NYSE: BKI), Canadian National Railway (NYSE: CNI), Ceragon Networks Ltd (Nasdaq: CRNT), Charles & Colvard (Nasdaq: CTHR), Check Point Software Technologies (Nasdaq: CHKP), Community Bancorp Nev (Nasdaq: CBON), Community Bank System (NYSE: CBU), Crane (NYSE: CR), drugstore.com (Nasdaq: DSCM), DST Systems (NYSE: DST), Eagle Materials Inc. (NYSE: EXP), Ecolab Inc. (NYSE: ECL), Edwards Lifesciences (NYSE: EW), eOn Communications (Nasdaq: EONC), Equifax Inc. (NYSE: EFX), Everest Re Group, Ltd. (NYSE: RE), EXACT Sciences Corporation (Nasdaq: EXAS), ExpressJet Holdings, Inc. (NYSE: XJT), First Citizens BancShares (Nasdaq: FCNCA), Forward Air (Nasdaq: FWRD), Frontier Financial (Nasdaq: FTBK), Gentex (Nasdaq: GNTX), Green Bankshares (Nasdaq: GRNB), Hasbro, Inc. (NYSE: HAS), Hexcel Corporation (NYSE: HXL), Hub Group (Nasdaq: HUBG), JAKKS Pacific Inc. (Nasdaq: JAKK), Kilroy Realty Corp. (NYSE: KRC), KNBT BANCORP INC (Nasdaq: KNBT), Liberty Property Trust (NYSE: LRY), Lincare Holdings (Nasdaq: LNCR), Netflix (Nasdaq: NFLX), Ocwen Financial (NYSE: OCN), Owens & Minor (NYSE: OMI), Pactiv (NYSE:
PTV), PartnerRe Ltd. (NYSE: PRE), PetMed Express, Inc. (Nasdaq: PETS), PFF Bancorp (NYSE: PFB), Plum Creek Timber (NYSE: PCL), PLX Technology (Nasdaq: PLXT), PrePaid Legal (NYSE: PPD), PrivateBancorp, Inc. (Nasdaq: PVTB), Regis Corporation (NYSE: RGS), Reinsurance Group of America, Inc. (NYSE: RGA), Royal Caribbean Cruises Ltd. (NYSE: RCL), Schering-Plough (NYSE: SGP), Sierra Bancorp (Nasdaq: BSRR), SL Green Realty (NYSE: SLG), Sterling Financial Corporation (Nasdaq: STSA), Synplicity (Nasdaq: SYNP), Taubman Centers (NYSE: TCO), Telefonos De Mexico (NYSE: TMX), Texas Instruments (NYSE: TXN), TGC (NYSE: TGE), Thomas & Betts (NYSE: TNB), TSYS (NYSE: TSS), Ultra Clean Holdings Inc. (Nasdaq: UCTT), United Fire (Nasdaq: UFCS), Veeco Instruments Inc. (Nasdaq: VECO), Vineyard National Bancorp (Nasdaq: VNBC), Volterra Semiconductor (Nasdaq: VLTR), W.R. Berkley (NYSE: BER), Waste Connections (NYSE: WCN), Weatherford International (NYSE: WFT), Wintrust Financial (Nasdaq: WTFC), Zebra Technologies (Nasdaq: ZBRA) and Zoran Corporation (Nasdaq: ZRAN).

The International Council of Shopping Centers - UBS produces its weekly same-store sales report on Tuesday, and we continue to be attentive to changes in consumer spending. Last week's year-over-year growth measure of 2.5% ticked up slightly from the week before it, but the trend was still far below last year's growth rate. With oil prices involved in a mad race to $90, we see no reason to expect increased consumer spending, especially if oil prices hold and allow gasoline prices to catch up.

At 10:00 AM, State Street will report its Investor Confidence Index for October. Considering the market's reaction to the Fed's September rate cut, we expect October's confidence reading to exceed September's result of 92.1. Remember, State Street measures the amount of risk carried in portfolios, and relates it to investor confidence. This month's figure is meaningless to us, as the Fed's Halloween meeting should decide the direction of stocks and capital flow into or out of stocks thereafter.

Wal-Mart (NYSE: WMT) begins a two-day analysts' meeting on Tuesday, where this analyst is sure the key questions will be how international expansion might boost top line growth and how much cost can be squeezed out of the lemon in the meantime.

Tuesday's extensive earnings schedule includes: 1-800-FLOWERS.COM (Nasdaq: FLWS), ACE Limited (NYSE: ACE), Actel (Nasdaq: ACTL), Aflac Inc. (NYSE: AFL), Aftermarket Technology
(Nasdaq: ATAC), AK Steel (NYSE: AKS), Akzo Nobel N.V. (Nasdaq: AKZOY.PK), Aladdin Knowledge Systems (Nasdaq: ALDN), Altera Corp. (Nasdaq: ALTR), Amazon.com, Inc. (Nasdaq: AMZN), American Ecology (Nasdaq: ECOL), Ameritrade Holding Corp. (Nasdaq: AMTD), AmSurg (Nasdaq: AMSG), ANADIGICS, Inc. (Nasdaq: ANAD), Anixter Int'l Inc.
(NYSE: AXE), Applied Industrial Technologies (NYSE: AIT), Arlington Tankers Ltd (NYSE: ATB), Arrow Electronics, Inc. (NYSE: ARW), Art Technology Group (Nasdaq: ARTG), Arthur J. Gallagher & Co. (NYSE: AJG), AT&T (NYSE: T), Avery Dennison (NYSE: AVY), BancorpSouth, Inc. (NYSE: BXS), BankUnited Financial (Nasdaq: BKUNA), Biogen Idec Inc. (Nasdaq: BIIB), BP plc (NYSE: BP), Brasil Telecom Participacoes (NYSE: BRP), Brinker International (NYSE: EAT), Broadcom (Nasdaq: BRCM), BTU Int'l (Nasdaq: BTUI), Burlington Northern Santa Fe (NYSE: BNI), C.H. Robinson Worldwide Inc (Nasdaq: CHRW), C.R. Bard, Inc. (NYSE: BCR), Calamos Asset Management (Nasdaq: CLMS), Candela Corp. (Nasdaq: CLZR), Capital Southwest (Nasdaq: CSWC), Carter's, Inc. (NYSE: CRI), Cascade Microtech, Inc. (Nasdaq: CSCD), Cavalier Homes (NYSE: CAV), CEC Entertainment (NYSE: CEC), Celanese Corp. (NYSE: CE), Centene Corp. (NYSE: CNC), Centex Corp. (NYSE: CTX), Chubb Corp. (NYSE: CB), CNH Global N.V. (NYSE: CNH), Coach, Inc. (NYSE: COH), Columbus McKinnon (Nasdaq: CMCO), Compugen (Nasdaq: CGEN), Computer Task Group (Nasdaq: CTGX), Con-Way (NYSE: CNW), Cooper Industries (NYSE: CBE), CSG Systems, Inc. (Nasdaq: CSGS)...

CTS Corp. (NYSE: CTS), Cymer, Inc. (Nasdaq: CYMI), Data Domain Inc. (Nasdaq: DDUP), Delphi Financial (NYSE: DFG), DuPont (NYSE: DD), Echelon Corp. (Nasdaq: ELON), Electronics for Imaging (Nasdaq: EFII), Encore Wire (Nasdaq: WIRE), Endwave (Nasdaq: ENWV), Entrust, Inc. (Nasdaq: ENTU), Epicor Software (Nasdaq: EPIC), EPIQ Systems (Nasdaq: EPIQ), First Busey Corp. (Nasdaq: BUSE), First Financial Holdings (Nasdaq: FFCH), FirstMerit (Nasdaq: FMER), Flextronics (Nasdaq: FLEX), GSI Group (Nasdaq: GSIG), Harmonic (Nasdaq: HLIT), HealthStream, Inc. (Nasdaq: HSTM), Heartland Express (Nasdaq: HTLD), Hoku Scientific, Inc. (Nasdaq: HOKU), ICON plc (Nasdaq: ICLR), IHOP (NYSE: IHP), II-VI (Nasdaq: IIVI), Illumina, Inc. (Nasdaq: ILMN), Ifinera (Nasdaq: INFN), IPC Holdings (Nasdaq: IPCR), Iteris, Inc. (NYSE: ITI), JetBlue Airways (Nasdaq: JBLU), Johnson Controls (NYSE: JCI), Journal Communications, Inc. (NYSE: JRN), Juniper Networks (Nasdaq: JNPR), Kelly Services (Nasdaq: KELYA), Kinetic Concepts (NYSE: KCI), LaBranche & Co Inc. (NYSE: LAB), Leadis Tech (Nasdaq: LDIS), Level 3 Communications (Nasdaq: LVLT), Lexmark International, Inc. (NYSE: LXK), Lockheed Martin (NYSE: LMT), LogicVision, Inc. (Nasdaq: LGVN), Manhattan Associates (Nasdaq: MANH), MDU Resources (NYSE: MDU), Meridian Gold Inc. (NYSE: MDG), Metalink (Nasdaq: MTLK), Microchip Tech (Nasdaq: MCHP), Midwest Banc Holdings (Nasdaq: MBHI)...

Millicom International Cellular S.A. (Nasdaq: MICC), Monro Muffler Brake (Nasdaq: MNRO), Nabors Industries (NYSE: NBR), Nara Bancorp (Nasdaq: NARA), Novellus Systems, Inc. (Nasdaq: NVLS), O'Reilly Automotive (Nasdaq: ORLY), Omnicom Group (NYSE: OMC), OptionsXpress (Nasdaq: OXPS), Panera Bread (Nasdaq: PNRA), Par Technology (NYSE: PTC), Pentair, Inc. (NYSE: PNR), Pervasive Software Inc. (Nasdaq: PVSW), Pharmaceutical Product Development (Nasdaq: PPDI), Phase Forward (Nasdaq: PFWD), Phoenix Tech (Nasdaq: PTEC), Plantronics, Inc. (NYSE: PLT), Platinum Underwriters (NYSE: PTP), Pogo Producing (NYSE: PPP), Pool Corporation (Nasdaq: POOL), Precision Castparts (NYSE: PCP), Prosperity Bancshares (Nasdaq: PRSP), Provident Financial (Nasdaq: PROV), Prudential PLC (NYSE: PUK), QLogic (Nasdaq: QLGC), Radware (Nasdaq: RDWR), Ramco-Gershenson Properties Trust (NYSE: RPT), Raymond James (NYSE: RJF), Rayonier Inc. (NYSE: RYN), RF Micro Devices, Inc. (Nasdaq: RFMD), Riverbed Tech (Nasdaq: RVBD), Rohm and Haas (NYSE: ROH), Sandy Spring Bancorp (Nasdaq: SASR), Satyam Computer Services (NYSE: SAY), SAVVIS, Inc. (Nasdaq: SVVS), Scientific Learning (Nasdaq: SCIL), SeaBright Insurance Holdings, Inc. (Nasdaq: SEAB), Seacoast Banking FL (Nasdaq: SBCF), Seattle Genetics (Nasdaq: SGEN), Sherwin-Williams (NYSE: SHW), Sigma-Aldrich Corporation (Nasdaq: SIAL), Silicon Storage Technology, Inc. (Nasdaq: SSTI), Smith International, Inc. (NYSE: SII), Sterling Bancshares (Nasdaq: SBIB), STMicroelectronics (NYSE: STM)...

StockerYale (Nasdaq: STKR), Sunoco Logistics Partners L.P. (NYSE: SXL), Supertex (Nasdaq: SUPX), Susquehanna Bancshares, Inc. (Nasdaq: SUSQ), T. Rowe Price (Nasdaq: TROW), TCF Financial Corp. (NYSE: TCB), Tellabs (Nasdaq: TLAB), Tennant Co. (NYSE: TNC), The Cheesecake Factory (Nasdaq: CAKE), The New York Times Co (NYSE: NYT), TradeStation Group, Inc. (Nasdaq: TRAD), Transalta Corp. (NYSE: TAC), Trimble Navigation (Nasdaq: TRMB), Trustmark Corp. (Nasdaq: TRMK), Tupperware Brands (NYSE: TUP), Twin Disc (Nasdaq: TWIN), UAL Corp. (Nasdaq: UAUA), UMB Financial (Nasdaq: UMBF), Unisys (NYSE: UIS), United Community Banks (Nasdaq: UCBI), UNITED PARCEL SERVICE INC (NYSE: UPS), Universal Stainless & Alloy Products (Nasdaq: USAP), USG (NYSE: USG), Utah Medical (Nasdaq: UTMD), Virginia Financial Corp. (Nasdaq: VFGI), Vitran Corp. (Nasdaq: VTNC), Vocus, Inc. (Nasdaq: VOCS), Waddell & Reed Financial, Inc. (NYSE: WDR), Waters Corp. (NYSE: WAT), Wausau Paper Corp. (NYSE: WPP), Webster Financial Corp. (NYSE: WBS), Western Union Co. (NYSE: WU), Whirlpool Corp. (NYSE: WHR), Whitney Holding Corporation (Nasdaq: WTNY), World Acceptance Corp. (Nasdaq: WRLD), XL Capital Ltd (NYSE: XL) and XTO Energy Inc. (NYSE: XTO).

On Wednesday morning, the regular Purchase Applications Report from the Mortgage Bankers Association will be followed up by September Existing Home Sales. Recall, the existing homes market dwarfs new homes and is all the more important a barometer to measure the degree of illness in housing. Bloomberg's consensus of economists is looking for sales running at an annual pace of 5.3 million. That's down from August's pace of 5.5 million. Remember earlier this year when economists were worried about the six month supply of homes? Well it's now up to 10 months, so prices are very likely to continue lower, which means a good degree of home equity is still to be lost.

At 10:30, the Energy Information Administration will report on oil inventories, but as long as 60,000 Turkish troops continue to trade fire with Kurdish rebels on the border and President Bush continues to speak of World War III, nothing else matters. However, the longer oil prices hold high, the more likelihood gasoline prices will rise, adding more pressure to the global consumer, and that includes you.

Wednesday's earnings schedule is not any lighter than Tuesday's. Some of the day's more popular reports are likely to emanate from Merrill Lynch (NYSE: MER), the Chicago Mercantile Exchange (NYSE: CME), Amgen (Nasdaq: AMGN), ConocoPhillips (NYSE: COP), Covance (NYSE: CVD), Genzyme (Nasdaq: GENZ), Legg Mason (NYSE: LM), Monster (Nasdaq: MNST), Moody's (NYSE: MCO), Occidental Petroleum (NYSE: OXY), Symantec (Nasdaq: SYMC), Boeing (NYSE: BA), Tractor Supply (Nasdaq: TSCO) and VCA Antech (Nasdaq: WOOF).

After posting a surprise uptick last week, investor concern will be keenly focused on the Weekly Initial Jobless Claims Report. Bloomberg's consensus of economists forecasts new benefits filers will amount to 320,000, versus 337,000 last week. Another data point expected to improve on Thursday is the Durable Goods Orders Report. Economists polled by Bloomberg see durable goods order growth of 1.8% in September, after a 4.9% decline in August.

New Home Sales are set for reporting at 10:00 AM, and the consensus sees the annual pace at 770,000 in September, compared to 795,000 in August and 937,000 in January. The EIA will report natural gas inventories as the fall heating season proceeds at a slow pace in the Northeast and through much of the country. Still, prices remain pressured by geopolitcal events and natural gas' increasing substitution, and potential for substitution should oil supplies become restricted in any way.

In the heart of earnings season, Thursday's schedule includes Baidu (Nasdaq: BIDU), CARBO Ceramics (NYSE: CRR), Celgene (Nasdaq: CELG), EMC Corp. (NYSE: EMC), Evergreen Solar (Nasdaq: ESLR), KLA-Tencor (Nasdaq: KLAC), Lithia Motors (NYSE: LAD), Microsoft (Nasdaq: MSFT), MICROS System (Nasdaq: MCRS), Motorola (NYSE: MOT), Penn National Gaming (Nasdaq: PENN), Raytheon (NYSE: RTN), SEI Investments (Nasdaq: SEIC) and others.

On Friday, the final Michigan Sentiment reading is expected unchanged, at 82, the lowest point of the year. Also, Apple (Nasdaq: AAPL) begins shipping its Mac OSX Leopard software. Friday's earnings schedule includes the likes of Baker Hughes (NYSE: BHI), Countrywide Financial (NYSE: CFC), Fortune Brands (NYSE: FO), Waste Management (NYSE: WMI) and others. We hope you found value in this week's copy and look forward to providing value-added information to your day all week.

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- Wall Street Greek

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