Stocks to Open Lower
Greg Che will not be writing this morning’s
column, in his place is Daniel Beighley
Stocks are likely to open lower this morning
following air strikes by U.S. and British forces. Equity index futures are down
as bellwether tech stocks are trading lower in the pre-market. European
markets are also down in light trading due to the uncertainty of the situation.
Oil prices have moved modestly higher this Monday.
AT&T Wireless
(
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PowerRating) said it will buy the 77
percent of TeleCorp PCS
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PowerRating) it does not already own for $2.4 billion in
stock, giving it full control of its largest affiliate.
Northwest Natural Gas Co. agreed to buy
Enron Corp.’s
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PowerRating) Portland General Electric for $1.8 billion. The deal
will combine Oregon’s largest natural gas utility with the state’s largest
electric utility.
AOL Time Warner
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PowerRating) is down 4.6% to
$32.25 vs. $33.81 at Friday’s close.
Cisco Systems Inc.
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PowerRating) is down 3.6% to $14.40 vs. $14.94 at Friday’s close.
Dell Computer Corp
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PowerRating) is down 2.5% to $22 vs. $22.56 at Friday’s close.
Newport News
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PowerRating) said it will take another
look at the stock bid it made for Northrop Grumman
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PowerRating), which is now up 30%
in value for the past three weeks.