Holding Steady
Following Tuesday’s thunderous 10% Nasdaq rally, stocks are set to open
slightly lower Wednesday as traders continue to digest Fed Chairman Greenspan’s
Tuesday comments.
The Dow futures are down 20 points, and the Nasdaq futures are down 5.5
points.
The S&Ps look to open down a half of a point while the yield on the
10-year Treasury is 5.47%.
Wednesday Movers
Sun Microsystems
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SUNW |
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PowerRating) begins post-split trading Wednesday following
Tuesday’s nearly 13% gain. Accounting for the split, Sun closed at 45 7/8 and is
trading up to 46 5/8 in pre-market activity.
Network Appliance
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NTAP |
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PowerRating) was one of Tuesday’s big tech winners, gaining
more than 50% to close at 81 1/2. Network Appliance is hanging on to those gains
but is edging back slightly in Wednesday action. NTAP is currently trading at 80
1/2 in pre-market activity.
Juniper Networks
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PowerRating) soared 26 17/32 on Tuesday but is set to give
back some of those gains. Juniper is trading down to 141 in pre-market activity.
Apple
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PowerRating) said its first quarter earnings would fall short of analyst
expectations, and that has further slammed its already beaten-up share price.
After closing Tuesday at 17, Apple is trading down to 14 13/16 in pre-market
activity.