Green Light From Intel
Better-than-expected earnings from Intel after the bell Tuesday has stocks in
a positive mood Wednesday as traders prepare for the onslaught of earnings
reports that should show how hobbled or strong the economy remains.
The Nasdaq futures are up 42 points, and the Dow futures are up 100 points.
The S&Ps look to open up 17.50 while the yield on the 10-year Treasury is
Traders are now looking ahead to Thursday’s unemployment numbers for more
clues as to whether or not the Fed will cut rates inter-meeting.
PowerRating) said after the bell Tuesday that it earned 16 cents per
share, and that topped Street estimates by a penny. Intel had closed at 26.06
per share but jumped sharply after the announcement. Intel is currently trading
up to 29.20 in pre-market activity.
Better-than-expected earnings from Texas Instruments
PowerRating) are also
helping the tech sector Wednesday. Texas Instruments earned 18 cents per share
for the quarter, and that topped estimates by 2 cents. After a close of 34, the
“Texan” is has traded up to 35.15 on Instinet.
PowerRating) is trading up to its highest level since last October
and is definitely a chip to watch Wednesday. Novellus closed Tuesday down .91 to
47.12 and is currently trading up to 51.00 in pre-market activity.