All Eyes On Greenie
Stocks look skittish and are poised to move lower Tuesday just ahead of an
Alan Greenspan speech scheduled for 9:45 AM ET.
The Dow futures are down 45 points, and the Nasdaq futures are down 22
points.
The S&Ps look to open down 3.2 points while the yield on the 10-year
Treasury note has edged up to 6.04%.
This Morning
Yahoo!
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PowerRating) is set to announce earnings after the bell, and analysts
expect the portal leader to earn 10 cents per share. Yahoo! closed Monday down 6
1/2 to 110 and is trading pre-market down to 104 3/4. Yahoo! is significantly
off of its January all-time high of 250 1/16.
Fiber optic company Metromedia Fiber
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PowerRating) said it had signed a
marketing deal with America Online
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PowerRating) to bring AOL customers high-speed
Internet access. Metromedia closed Monday at 41 7/8 and is trading at 42 1/2 in
pre-market activity.
Last Night
Bellevue,Wash.-based VoiceStream Wireless
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PowerRating) is trading up sharply
following word Monday that Deutsche Telekom had offered to buy the company.
VoiceStream closed Monday at 124 15/16 and is trading up to 140 in pre-market
activity.
Web traffic equipment maker Altheon WebSystems
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PowerRating) pre-announced that
the firm would be profitable when it announces its fiscal fourth quarter
earnings on July 20. First Call/Thomson Financial had expected the company to
lose a penny. Alteon closed Monday at 100 15/16 and is trading up to 114 3/16 in
pre-market activity.