The PremiereTrade Market Wrap for 10/09/07

The International Council of Shopping Centers-UBS Retail Chain Store Sales Index was unchanged in the week ended Oct. 6 from its level in the week before on a seasonally adjusted, comparable-store basis. Last week, the report was also unchanged. On the year, chain store sales were up 2.1% in the week ended Oct. 6, compared with a rise of 2.7% the prior week.

Brewers Molson Coors Brewing Co. (TAP) and SABMiller PLC plan to combine their U.S. operations in a joint venture, which the makers of Miller Lite and Coors Light said should help them compete more effectively. The new MillerCoors will compete with U.S. industry leader Anheuser-Busch Cos., maker of Budweiser, Michelob and Bud Light.

AT&T Inc. (T) said it agreed to buy spectrum licenses from Aloha Partners LP for about $2.5 billion, expanding the telecommunication provider's ability to deliver wireless voice, data and video services.

Xerox Corp. (XRX) announced that it received an approximately $93 million contract from the Navy to support its multipurpose copier program.

Google Inc. (GOOG) shares may surge 17 percent to $714, according to Lehman Brothers Holdings Inc., which said the operator of the world's most popular Internet search engine may introduce a mobile phone as early as February. Google's phone may be ``simple,'' ``low-priced'' and designed to run software over the Internet.

The biggest quarterly rally for U.S. government securities in five years is getting an extraordinary boost from the burgeoning reinvestment of petrodollars by the Organization of Petroleum Exporting Countries. OPEC members increased their holdings of Treasuries 12 percent this year through July to $123.8 billion.

In Earnings News

Children's Place Retail Stores Inc. (PLCE) sharply slashed its profit forecast for the second half, making the reduction after lower sales forced the retailer to implement price cuts.

Johnson Controls Inc. (JCI) expects to beat Wall Street's revenue target and hit its profit objective next year as management eyes generating overseas sales growth and making market-share gains.

Yum Brands Inc. (YUM) posted a 17% gain in third-quarter profit, helped by strong overseas growth particularly in China, and raised its full-year forecast. Yum Brands reported net income of $270 million, or 50 cents a share. Analysts expected 45 cents a share.

Scheduled Economic Reports (Wednesday)

Wholesale Inventories (Aug), Energy Department Oil Inventories (Week of October 5th)

Scheduled Earnings Reports (Wednesday)

Costco Wholesale, Host Marriott, Monsanto, Infosys Technologies, Ruby Tuesday, Mercantile Bank Corp.

Stocks in the News

Taser International Inc (TASR) said a U.S. District Court granted its motion for summary judgment, dismissing a product liability suit involving the February 2006 death of a cook who worked in a New Orleans restaurant.

Coca-Cola Co. (KO) was downgraded by Deutsche Bank to hold from buy, citing valuation.

Sony Corp (SNE) said it would cut the prices of its next-generation PlayStation 3 game consoles in Japan, as well as offer a new low-range model.