Earnings Kickoff
Following last week’s impressive nearly 10% gain on the Nasdaq, stocks are
poised for a slightly lower open Tuesday, as traders await a week loaded with
economic numbers and earnings news.
The Dow futures are down 10 points, and the Nasdaq futures are down 4 points.
The S&Ps look to open down 1.3 points while the yield on the 10-year
Treasury has edged back up to 5.20%.
Tuesday Movers
Optical product maker Corvis
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PowerRating) said it completed tests for and will
deliver products to Williams Communications
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PowerRating) and that appears to be
motivating Corvis in early trading. Corvis closed Friday at 23 and is currently
trading up to 25 in pre-market activity.
Wireless technology maker Puma Technologies
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PowerRating) is set for a higher
open following news that Yahoo! will use Puma’s software technology for its
calendar product for wireless personal digital assistants (PDAs). Puma closed
Friday up 1 7/16 to 7 3/4 on double average volume and is currently trading up
to 9 1/2 in pre-market activity.
DoubleClick
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PowerRating) rose 3 7/16 to 14 3/4 on Friday following news of
better-than-expected earnings and the leading Net advertiser is set for more
gains Tuesday. DoubleClick is currently trading up to 15 1/4 in pre-market
activity.
In earnings news, Southwest Airlines
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PowerRating) posted fourth quarter earnings
of 29 cents per share, beating Street estimates by a penny and capping off its
28th year of profitability. Southwest closed Friday down .18 to 30.67 on volume
of 2.6 million shares.