A Little Relief
Following Wednesday’s 2.2% Nasdaq fall, technologies are looking at a little
relief Thursday, with the Nasdaq indicating a solidly higher open. An earnings
warning from Home Depot, however, looks like it will weigh down the Dow.
The Nasdaq futures are up 65.50 points while the Dow futures are down 20
points.
The S&Ps look to open up 6.80 points while the yield on the 10-year
Treasury is 5.80.
Morning Movers
In the optical space, Corning
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for the third quarter, and that is helping Corning in early-morning trading.
After closing Wednesday down 1 to 83 1/2, Corning is trading up to 88 on
Instinet.
Related optical-oriented companies are also moving higher. In pre-market
activity, JDS Uniphase is trading up to 89 following a 85 7/8 Wednesday close,
and Advanced Micro Circuits
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11/16 close.
Dow component Home Depot
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fall short of analyst estimates, and that has Home Depot set to open sharply
lower Thursday. After closing down 1 3/4 to 48 15/16 on Wednesday, Home Depot
has traded down to 38 on Instinet.
Palm
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Wednesday Follow-up
Advanced Micro Devices
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third-quarter, and that topped analyst estimates by two cents. Advanced Micro
finished the regular session Wednesday at 21 3/4 and has traded up to 24 1/2 on
Instinet.
Advanced Micro’s earnings should help the beleaguered semiconductor index
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PowerRating), as Xilinx
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are all looking at higher openings.