Bargain hunters lift US stocks

MARKET OUTLOOK

- US: US markets closed higher at the end of the week due to 'bargain hunting' and optimism about lower interest rates. Stocks from energy, software, utilities and food, beverages and tobacco were the best performers, while automobiles and parts, banks, real estate and diversified financials lost ground week-on-week. From a technical point of view, after a bounce in the early stages of the week, a new move downwards should be seen heading towards the recent year lows.

- EUROPE: European markets rose last week on renewed mergers and acquisitions interest. Only shares from healthcare and chemicals managed to outperform the market. All other stocks fell last week, especially technology, automobiles and parts and basic Resources. Technically, major European indexes should remain under pressure all week long.

COMPANY PREVIEW

Marvell Technology (USD 16.52 ; -4.89% ; MRVL ; MRVL.O)

On Tuesday, Marvell Technology Group will post Q3 EPS of $0.08 ($0.05 a year earlier) on sales of $707m compared with $520m last year. At the beginning of this month, the group planned to use a simplified chip to reduce energy consumption by 50%. In October, the group and Apple's iPod received a notice from the US SEC concerning possible penalties related to their stock-option grants.

Porsche Pref (EUR 1372 ; -6.06% ; POR3 ; PSHG_p.DE)

In Europe, German's Porsche is expected to unveil FY net income of E2.1bn (E1.39bn last year) with revenues of E7.3bn (E7.27bn) on Wednesday. In November, CEO Wendelin Wiedeking announced that the Co has no plans neither to break up nor to merge with Volkswagen. Two weeks ago, the Co's North America unit reported record October sales growth of 18% year-on-year. A few days earlier, Porsche said that it anticipates Asian sales to be over its domestic sales within 5Y and added a new dealership in China each 2M.

Dell Computer (USD 26.13 ; -2.61% ; DELL ; DELL.O)

Thursday, Dell Inc is seen reporting Q3 EPS of $0.35 ($0.27 a year earlier) on sales of $15.3bn ($14.4bn). Last week, the Co introduced its all-in-one desktop PC on the market and added that it wants to market it in Japan and the US this month. In the middle of November, Dell announced its intention to use celebrity endorsements and social-networking sites to promote holiday gifts.

National Bank Of Greece (EUR 42.3 ; -7.84% ; ETE ; NBGr.AT)

On the same day, National Bank of Greece is scheduled to present Q3 net income of E381m. A week earlier, the lender expressed an interest to acquire financial institutions in Ukraine. At the beginning of October, Chairman stated that the bank might continue to expand in Serbia. In other news, NBG raised E80.1m by selling a 5.1% stake in Hellenic Exchanges to institutional investors.

Tiffany and Co (USD 47.99 ; 1.37% ; TIF ; TIF.N)

Finally, Tiffany and Co will deliver Q3 EPS of $0.245 ($0.21 a year earlier) on sales of $614m ($548m) on Friday. A few days ago, CEO Michael Kowalski blamed the online distributor EBay in counterfeit trial of the Co's silver jewelry. Separately, the Co planned to open a 6,000 square foot store in Westfarms in next May. In October, the Co sold the chain's main London store after divesting its principal location in Tokyo.