Leaning Green
Stocks are looking at a positive open Friday following a harrowing 4.3%
Nasdaq plunge Thursday. Housing starts were on par with analyst expectations
this morning.
The Nasdaq futures are up 36 points, and the Dow futures are up 32 points.
The S&Ps look to open up 4 points while the yield on the 10-year Treasury
is 5.70%.
October housing starts came in at 1.53 million, which was slightly lower than
the 1.54 million analysts had expected. Stocks had little reaction to the
number.
Morning Movers
B2B leader Ariba
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PowerRating) fell 14 1/16 to 77 15/16 Thursday as Internets
continued to see massive selling pressure. Ariba is apparently headed for a
bounce Friday and is trading up to 81 7/16 in pre-market activity.
One company that avoided the Nasdaq plunge Thursday was Citrix Systems
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PowerRating),
which rose 2 1/8 to 29 1/4 on more than double its average volume and closed at
its highest level since June. Citrix is currently trading up to 29 5/8 in
pre-market activity.
Networkers were under pressure Thursday and hit hard was Juniper Networks
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PowerRating),
which fell 16 5/16 to 161 13/16. Juniper is looking at a positive open Friday
and is trading up to 165 1/2 in pre-market activity.
Microsoft
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PowerRating), which has become somewhat of a George W. tracking
stock, closed Thursday down 1 1/8 to 68 15/16. The software maker is trading up
to 69 1/2 in pre-market activity as it waits for more legal news from Florida.