Before the bell 11-22-06: You're getting a Dell

As investors are getting ready for Thanksgiving, they were looking for a reason to be thankful for, and no better than Dell beating estimates to push the higher. Stock futures are indeed higher in early morning trade, pointing to a similar start for stocks.

Today, a day earlier due to Thanksgiving, weekly initial claims will be released at 8:30 a.m. November Michigan consumer sentiment is due at 10:00. Finally, at 10:30, weekly crude inventories will be reported. Oil prices eased near $60 today, ahead of the data which is expected to show declining stocks.

Trading volume might be light today before the holiday. Usually lower volume adds to volatility.

Overseas, European markets got a boost from commodity-related stocks, reaching a 5-1/2 year highs on Wednesday. Jump in oil and copper prices along with mergers and acquisitions buoyed selected chemicals and financial stocks. Asian markets also closed higher with Japan's Nikkei rebounding.

So let's start with Dell, Inc. (NASDAQ:DELL). Dell delayed reporting its quarterly earning and has been under formal investigation by the SEC. Yesterday, however, Dell reported third-quarter financial results of net income of $677 million, or 30 cents per share, on revenue of $14.38 billion. There are no comparison figures from a year ago. Analysts were expecting earnings per share of 24 cents before certain items, and revenue of $14.5 billion. Net income was seen at 23 cents per share. Dell shares gained more than 9.5% in after-hours.

Alcoa Inc. (NYSE:AA) plans to cut 6,700 jobs worldwide over the next year as part of a plan to help boost profits. Alcoa has 129,000 employees in 44 countries. Alcoa "also said it will form a joint venture with the Sapa Group of Norway's Orkla ASA that would combine its soft alloy extrusion business with Sapa's Profiles extruded aluminum business." Alcoa is a Dow component.

THQ Inc. (NASDAQ:THQI) was notified by the Nasdaq of possible delisting for its delayed fiscal second-quarter report.

Wal-Mart Stores Inc. (NYSE:WMT) was granted its motion to decertify a class action lawsuit accusing the world's largest retailer of denying employees breaks.

The Walt Disney Co. (NYSE:DIS) and Comcast Corp. (NASDAQ:CMCSA) signed a multiyear deal in which Comcast will buy a 39.5% stake in E! Entertainment Television channel for $1.23 billion. Comcast holds 60% of the channel. Also, shows from ESPN, Disney Family, and ABC hits "Lost" and "Desperate Housewives" are among the slate of programming Disney has licensed for viewing on Comcast's video-on-demand service.

Yesterday, the S&P announced a few index changes in both the S&P 500 and the S&P 100.