Game On
Decent earnings reports and continued talk of a 50 basis point rate cut have
stocks in a celebratory mood Friday as earning news continues to pour in. The
Nasdaq’s recent run has now put it up 12% for the year-to-date.
The Nasdaq futures are up 65 points, and the Dow futures are up 60 points.
The S&Ps look to open up 12 points while the yield on the 10-year
Treasury is holding at 5.14%.
Friday Movers
Software giant Microsoft
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PowerRating) met analyst expectations of 44 cents per
share on sales of 6.59 billion for the quarter and that is helping boost the
tech world in Friday trade. Microsoft closed Friday at 55 5/8 and is currently
trading up to 59 7/8 in pre-market activity.
eBay
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PowerRating) surprised analysts with very strong fourth quarter earnings
of 9 cents per share which topped estimates by 2 cents. eBay closed Thursday up
3 11/16 to 46 15/16 and is currently trading up to 54 1/8 in pre-market
activity.
Optical player JDS Uniphase
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PowerRating) was one of Thursday’s big winners,
rising 6 9/16 to 60 5/16 to close above its 50-day moving average. JDSU look
strong again Friday and is currently trading up to 63 in pre-market activity.
B2Bs are looking at a bounce following a narrower-than-expected loss from
Commerce One
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PowerRating). Commerce One closed Thursday at 21 5/8 and is
currently trading up to 27 9/16 in pre-market activity. Related B2Bs are also
higher with Ariba
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PowerRating) up to 39 following a 37 1/8 close and PurchasePro
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PowerRating) up to 21 following a close of 18 3/8.