And The Winner Is…

Several new earnings warnings have markets somewhat edgy Tuesday as stocks
are poised for a negative open. Traders are also keeping an eye on Washington,
where a Supreme Court election ruling is expected at any time.

The Nasdaq futures are down 23.5 points, and the Dow futures are down 25
points.

The S&Ps look to open down 3.3 points while the yield on the 10-year
Treasury is holding steady at 5.37%.

Tuesday Movers

Sun Microsystems
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slipped 4 15/16 to 34 on Monday on rumors of
accounting problems. The company denied there were problems, but the stock did
trade down to a 52-week low before closing slightly above its May low of 33
9/16. Sun is currently trading up to 35 1/2 in pre-market activity.

Advanced Micro Devices
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also warned of an earnings shortfall, and
that was expected given Intel’s recent warning. AMD closed Monday up 1 1/4 to 17
5/16 as semiconductor stocks bounced. Many traders believe much of the recent
flurry of bad news is already factored into many of the depressed stock prices
evident in the market.

Despite warning that it would post losses for its upcoming quarter, Internet
advertiser DoubleClick
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is trading up in pre-market activity. After
closing at 12 on Monday, DoubleClick is trading up to 13 1/8 in pre-market
activity. DoubleClick has been one of the relatively few profitable Internet
companies over the past few quarters..

Dow component Eastman Kodak
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warned that its fourth quarter earnings
would fall short of analyst expectations because of weakening consumer demand.
Kodak closed Monday up 9/16 to 39 7/16.