Leaning Green
Ahead of the April Consumer Confidence numbers, stocks are looking at a green
open Tuesday following a 4.8% Nadsdaq pullback on Monday.
The Dow futures are up 52 points, and the Nasdaq futures are up 7 points.
The S&Ps look to open up 7 points while the yield on the 10-year Treasury
is 5.28%,
The April Consumer Confidence numbers will be released on Tuesday at 10:00 AM ET, and analysts expect to see a reading of 112.9 which would put it
below March’s 117.0.
Tuesday Movers
Optical giant JDS Uniphase
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PowerRating) said it earned 14 cents per share for
its recent quarter, and that figure matched analyst estimates. JDSU warned of
future quarter shortfalls, and that is weighing on the stock in pre-market
activity. The stock is trading down to 22.50 following a Monday close of 24.18.
In a positive sign for the chip sector, Novellus
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PowerRating) is looking at an
up open and is trading up to 53.10 following a Monday close of 51.14.
Also looking positive in the SOX is Applied Materials
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PowerRating). Applied is
currently trading up to 53.78 following a Monday close down 3.58 to 52.73.
Monday’s pullback was on less-than-average volume.
Oracle
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PowerRating) is still under pressure following a Monday downgrade. The
company closed Monday down 2.60 to 17.15 and is currently trading down to 16.80
in pre-market activity.