All Quiet Ahead Of Decisive Week
Following Friday’s 6.2% Nasdaq plunge, stocks are looking at a mixed and
fairly quiet open Monday in a week where traders will be waiting intently for
Friday’s PPI and retail sales numbers.
The Dow futures are up 5 points, and the Nasdaq futures are down 12 points.
The S&Ps look to open up 0.5 points while the yield on the 10-year
Treasury is holding at 4.96%.
In economic news, the November consumer credit number is due out at 3:00 PM
ET, and the consensus estimate is for a figure of $8.8 billion.
Monday Movers
Cisco Systems
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PowerRating) is under pressure Monday with one of the possible causes as having been mentioned in Barrons as a tech stock that still
looked over-valued to some analysts. Cisco had traded as high as 44 1/2 on
Thursday only to sink to a 36 5/8 Friday close. Cisco is currently trading down
to 35 11/16 in pre-market activity.
WorldCom
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PowerRating) had a two-day pullback from its New Year 60% jump last
Monday and Tuesday. The stock finished Friday down 1 to 18 7/16 and is currently
trading up slightly to 18 1/2 in pre-market activity.
In the “back to the Old Economy” department, after just five months
on the job, VerticalNet’s
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PowerRating) CEO will leave as head of the B2B concern
to move on to thoroughly non-Net Newell Rubbermaid
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PowerRating). After closing at 5
11/32, VerticalNet is trading down to 4 in pre-market activity.
Also in the B2B arena, Ariba
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PowerRating) is close to Thursday’s 15-month low
of 33 7/8 and will be looking for support at that level. Ariba closed Friday at
34 3/16 and is currently trading up to 34 3/8 in pre-market activity.