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HAVE A GREAT LONG WEEKEND
Economic
08:30 Nonfarm Payrolls (Aug.): -118K cons.
08:30 Unemployment Rate (Aug.): 9.6% cons.
08:30 Hourly Earnings (Aug.): 0.1% cons.
08:30 Average Workweek (Aug.): 34.2 cons.
10:00 ISM Services (Aug.): 53.2 cons.

Released on 9/3/2010 8:30:00 AM For Aug, 2010

Prior Consensus Consensus Range

Nonfarm Payrolls - M/M change -131,000 -90,000 -160,000 to 75,000

Private Payrolls - M/M change 71,000 40,000 -5,000 to 110,00

Unemployment Rate - Level 9.5 % 9.6 % 9.5 % to 9.7 %

Average Hourly Earnings - M/M change 0.2 % 0.1 % 0.1 % to 0.2 %

Av Workweek - All Employees 34.2 hrs 34.2 hrs 34.1 hrs to 34.3 hrs

Market Consensus Before Announcement

Nonfarm payroll employment in July declined 131,000 after falling a revised 221,000 in June and after a 432,000 boost in May. Of the July government plunge, 143,000 came from a drop in Census Bureau payrolls. State government fell 10,000 while local government dropped 38,000. Private nonfarm employment, which discounts the effects of hiring and firing temporary Census workers, accelerated moderately to a 71,000 increase, following a 31,000 gain in June. Average hourly earnings improved to up 0.2 percent, following no change in June. The average workweek for all workers rose to 34.2 hours from 34.1 hours in June. Turning to the household survey, the unemployment rate was unchanged at 9.5 percent in July. More recently, despite a dip this past week, initial jobless claims in August have been running higher than during July and this implies sluggish payroll and unemployment numbers. Employment indexes for the Philly and New York Fed manufacturing surveys were mixed as Empire rose while Philly slipped from positive to negative. Analysts will be tweaking their expectations with the ISM manufacturing and ADP reports just ahead of Friday's employment situation. Added Note: consensus numbers are revised as of Thursday afternoon

TOP FINANCIAL NEWS

Stocks rise on economic hopes ahead of payrolls

BUSINESS NEWS

HPQ announced that they have entered into a definitive agreement under which HP will purchase 3PAR through a cash tender offer of $33 per share in cash, or an enterprise value of $2.35 billion. The transaction has been approved by the boards of directors of both companies.

FNSR Finisar up 10% in after hours following earnings; peer JDSU is also ticking higher on light volume

TTWO Take-Two beats by $0.36, beats on revs; raises Q4 EPS and revs guidance above consensus

After Hours Summary
TTWO +12.3%, FNSR +9.9% Following Earnings; WLT -4.9% (lowers FY10 coking coal sales expectations
Companies trading higher in after hours in reaction to earnings
TTWO +12.7%, FNSR +9.9%, and HRB +7.8%...
Companies trading lower in after hours in reaction to news: WLT -4.9% (lowers FY10 coking coal sales expectations