Downward Drift
With the November Index of Leading Economic Indicators not due out until
10:00 AM ET, stocks have little to react to Wednesday morning and are drifting
lower before the open.
Analysts expect the indicator to drop 0.2%, although a larger drop would not
surprise too many analysts given the increasing gloom in the economic sphere.
The Dow futures are down 42 points, and the Nasdaq futures are down 21
points.
The S&Ps look to open down 5.5 points while the yield on the 10-year
Treasury is holding at 5.07%.
Wednesday Movers
Network Associates
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NETA |
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PowerRating) joined the list of
companies issuing warnings after it said falling revenues would hurt its
upcoming earnings report. Network Associates closed Tuesday at 11 3/4 and is
trading down to 3 3/8 in pre-market activity.
Philip Morris
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MO |
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PowerRating) is poised for new highs Wednesday
after closing up 1 1/16 to 44 9/16 Tuesday at its highest close since Feb. 1999.
The tobacco and food giant traded in the high teens back in March and is by far
one of the top-performers of the year.
Microsoft
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MSFT |
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PowerRating) was one of Tuesday’s techs in the
green, gaining 7/16 to 46 7/8. The software king is set for a positive open
Wednesday and is trading up to 47 in pre-market activity.
Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating) gave back some of Monday’s
big gains Tuesday but and is set for a slightly lower open Wednesday. The Cisco
competitor closed Tuesday at 117 15/32 and is trading down to 117 3/8 in
pre-market activity.