For the fourth quarter 2007, net loss of 63 million, or 30 cents per diluted share, on net sales of $3.9 billion compared to $507 million, or $2.12 per diluted share, on net sales of $4.8 billion.

Aruba Networks, Inc. (ARUN: chart) reported preliminary results for its second fiscal quarter ended January 31, 2008. Second quarter revenues are currently expected to be in the range of approximately $40.0 to $41.0 million, and GAAP net loss is expected to be in the range of approximately $0.04 to $0.05 per diluted share. Non-GAAP net income (which excludes the impact of stock-based expenses) is expected to be approximately break-even. The Aruba Network stock fell 35% or $2.77 to $4.99.


Wheat Prices Soar

Wheat prices rose to a record rise after the U.S. Department of Agriculture estimated that the wheat inventories will be at 60-year low of 272 million bushels. The latest projection shows a 7% decline from the earlier projection in January and 40% lower from a year ago. Wheat futures rallied to the daily limit of 30 cents for the fifth session in a row and closed up 16% for the week. Wheat prices at mid-day were trading at $10.93 per bushel, up 30 cents in Chicago and in Kansas were up 30 cents to $11.4025 per bushel.

The World Agricultural Supply and Demand Estimates report released today by U.S. Dept of Agriculture noted the following.

“Projected U.S. wheat ending stocks for 2007/08 are lowered 20 million bushels this month as a reduction in feed and residual use is more than offset by higher projected exports.

At 272 million bushels, this year's ending stocks are the lowest since 1947/48. Ending stocks as a percentage of use (stocks-to-use) at 12 percent would be the lowest since 1946/47. Feed and residual use is projected 5 million bushels lower as high prices and tight supplies reduce the expected residual.

Exports are raised 25 million bushels with hard red spring wheat increased 20 million and soft red winter wheat increased 5 million. The season-average farm price projection is unchanged at $6.45 to $6.85 per bushel, well above the record of $4.55 per bushel in 1995/96.”

Wholesales Inventories Rise

December 2007 sales of merchant wholesalers were $376.6 billion, down 0.7% from the revised November level and were up 10.6% from the December 2006 level. The November preliminary estimate was revised downward $1.1 billion or 0.3%.

Total inventories of merchant wholesalers were $411.6 billion at the end of December, up 1.1% from the revised November level and were up 6.1% from a year ago. The November preliminary estimate was revised upward $0.8 billion or 0.2%.

End-of-month inventories of durable goods were up 0.9% from last month and were up 1.9% from last December. Inventories of motor vehicle and motor vehicle parts and supplies were up 3.5% from last month, and inventories of metals and minerals, except petroleum, were up 1.7%.

International Markets

In Tokyo Nikkei 225 Index closed lower 189.91 or 1.44% to 13,017.24, in Australia ASX 200 index increased 61.30 or 1.10% to close 5,658.00. Markets in Hong Kong were closed today.

Thailand SET index closed higher 13.27 or 1.67% to 806.44. Sensex index in India decreased 62.00 or 0.35% to 17,464.89. Markets of South Korea and Indonesia were closed today.

In London FTSE 100 Index closed higher 59.90 or 1.05% to 5,724.10, in Paris CAC 40 Index decreased 14.15 or 0.30% to close at 4,709.65 and in Frankfurt DAX index higher 33.56 or 0.50% to close at 6,767.28. In Zurich trading SMI increased 26.94 or 0.36% to close at 7,446.95.


9:00AM New York, 6:30PM Mumbai – Stocks in India fell after inflation rose, weakness in retail investors, and jittery IPO market.

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