Edging Higher
With earnings season winding down, stocks look to open marginally higher
Monday, as traders await Tuesday’s industrial production report and Wednesday’s
CPI and new housing starts figures.
The Nasdaq futures are up 13.5 points, and the Dow futures are unchanged.
The S&P futures look to open up 2 points, and the yield on the 10-year
Treasury is 5.82%.
This Morning
News that Rupert Murdoch’s News Corp.
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PowerRating) will purchase broadcasting
company Chris-Craft Industries
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higher on Instinet. Chris-Craft closed Friday at 62 and has traded up to 76 in
early-morning action.
In the biotech arena, Chiron
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PathoGenesis
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PowerRating) for $700 million, and that has boosted PathoGenesis in
early trading. The Seattle, Wash.-based company closed Friday at 32 3/4 and is
trading up to 38 in pre-market activity. Chiron closed Friday at 48 5/8 and is
down slightly to 48 1/4 in pre-market action.
Friday Follow-Up
After Friday’s steep decline following its earnings report, Dell Computer
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is trading higher ahead of the bell. Dell’s second-quarter earnings beat First
Call/Thomson Financial estimates by a penny, but future revenue worries weigh ed
on the computer maker Friday, sending its stock down 4 1/16 to 37 11/16. Dell is
trading up to 38 1/2 in pre-market activity.