Mixed Bag
Another jump in weekly jobless claims shows yet more weakness in the U.S.
economy as stocks are set for a mixed open Thursday. The weekly figure rose
18,000 to 408,000.
In other economic news, the employment cost index rose 1.1% for the first
quarter which was slightly ahead of the 0.9% increase analysts had expected.
The Dow futures are down 30 points, and the Nasdaq futures are up 16 points.
The S&Ps look to open up 1.4 points while the yield on the 10-year
Treasury is 5.20%.
Thursday Movers
Qualcomm
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QCOM |
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PowerRating) matched quarterly earnings estimates but warned of
future quarterly shortfalls, and that is hitting the wireless giant hard in
pre-market activity. After closing up 3.42 to 62.92 on Friday, QCOM is trading
down to 56.00 in early action.
Peoplesoft
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PSFT |
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PowerRating) is up sharply after posting better-than-expected
earnings. PSFT closed Wednesday at 30.00 and is currently trading up to 35.18 in
pre-market activity.
InfoSpace
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PowerRating) booked a 2 cent loss for the quarter, and that topped
analyst estimates a 4 cent per share loss. InfoSpace closed Wednesday at 3.91
and is currently trading up to 4.35 in pre-market activity.
Veritas Software
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VRTS |
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PowerRating) is also looking at some upside Thursday and is
set to open back above its 50-day moving average. VRTS closed Wednesday at 58.69
and is currently trading up to 60.16 in pre-market activity.