Flat Tuesday
On the heels of Monday’s 3.3% Nasdaq surge, stocks look to open flat in
Tuesday trading. The April trade deficit came in at $30.4 billion, which was
higher than the $29.6 billion analysts expected. The figure, however, did show a
decrease from March’s revised figure of $30.6 billion, suggesting a slight
easing of consumer demand.
The Nasdaq futures are up 16.5 points, and the Dow futures are down 15
points.
The S&Ps are unchanged while the yield on the 10-year Treasury note is
holding steady at 6.0%.
This Morning
Goldman Sachs
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PowerRating) reported better-than-expected earnings of $1.48 per
share, topping First Call/Thomson Financial’s estimates of $1.37 per share.
Goldman also improved on the same year-ago quarter when it earned $1.30 per
share. The stock closed Monday up 1 11/16 to 91 5/8.
Oracle
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PowerRating) is set to report earnings after the bell and is trading up
1/2 to 86 1/2 in pre-market activity. Oracle was one of the top-performing big
caps on Monday, rising 4 1/8 to 86. According to analysts polled by First
Call/Thomson Financial, Oracle is expected to earn 25 cents a share for its
fiscal fourth quarter that ended May 31.
In the semi department, Rambus
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11/16 Monday and looks to add to that gain in Tuesday trading. Rambus is trading
up to 97 5/8 in pre-market activity. Also strong Monday was Intel
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PowerRating)
which gained nearly 10 to 136 1/2. Intel is trading flat at 136 7/16 in
pre-market action.
Last Night
After the bell on Monday, Standard & Poors announced that broadband chip
maker Broadcom
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PowerRating) would replace GTE in the S&P 500 at an
unspecified future date. Broadcom closed Monday at 147 1/2 and is trading up to
166 in pre-market activity.
Memory chip maker Silicon Storage
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PowerRating) announced at 3-for-1 stock
split that will be distributed on August 11 for shareholders of record as of
July 28. After closing Monday up 4 3/8 to 89 7/16, Silicon Storage is trading up
to 100 3/4 in pre-market activity.