Election Drama Whacks Market
As traders await the final word on the election drama, stocks are showing
signs of trauma and are set for a sharply lower open Friday.
The Dow futures are down 78 points, and the Nasdaq futures are down 81
points.
The S&Ps look to open down 10.80 points while the yield on the 10-year
Treasury is 5.79%.
Morning Movers
Dell Computer
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fiscal third quarter, which met analyst expectations according to First
Call/Thomson Financial. Dell warned that future revenue growth rates may
decrease, and that has weighed heavily on the stock. After closing Thursday at
28 3/8, Dell is trading down to 23 1/2 in pre-market activity. Dell’s 52-week
high is 59 11/16 which it established back on March 22, 2000.
Worries over Dell have affected the broader tech sector, with Intel
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getting a downgrade from Salomon Smith Barney. Intel closed down 1 1/4 to 41 3/8
on Thursday and is trading down to 36 7/8 in pre-market activity.
Dell competitor Apple Computer
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news. Apple closed Thursday up 3/8 to 20 3/16 but is trading down to 18 7/8 in
pre-market activity.
Milllennium Pharmaceutical
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morning as it has traded up to 76 11/16 following a Thursday close of 75 1/2.
Thursday Follow-up
JDS Uniphase
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1/8 to 73 3/4. JDSU, however, is not holding those gains and is currently
trading back down to 70 in pre-market activity.