Does Late Rally Have Legs?
On the heels of Monday’s final-hour 4% Nasdaq surge, stocks look headed for a
mixed open Tuesday as traders ready themselves for earnings season.
The Nasdaq futures are up 15 points, and the Dow futures are down 15 points.
The S&Ps look to open down 1.40 points while the yield on the 10-year
Treasury has edged back up to 5.0%.
Tuesday Movers
Juniper
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PowerRating) closed strong Monday and posted a 7% gain for the day and
is trading slightly higher in Tuesday action. The Cisco competitor closed Monday
at 115 3/8 and is trading up to 115 1/2 in pre-market activity.
Microsoft
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PowerRating) was one of the few tech giants to hold up well after
last Wednesday’s monster rally, and the software giant continues to remain
steady in Tuesday trade. Microsoft closed yesterday at 48 15/16 and is currently
trading up to 49 in pre-market activity.
Amazon
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PowerRating) said after the close Monday that its fourth quarter sales
increased 40% over the last year’s holiday quarter, but the figure still fell
short of what analysts had expected. Amazon closed at 15 and initially traded
above 17 before trailing off in after hours activity. Amazon is currently
trading down to 13 3/4 in pre-market activity.
After trading down to its lowest level since Sept. 1999, B2B Ariba
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PowerRating)
is set for a slight bounce in Tuesday action. Ariba closed Monday at 37 1/16 and
is currently trading up to 39 1/4 in pre-market activity.