Leaning Green
Following Friday’s disappointing Nasdaq fall of 2% on the heels of a very
friendly CPI report, stocks are edging higher Monday, with the Nasdaq indicating
a fairly green open.
The Nasdaq futures are up 42.5 points, and the Dow futures are up 16 points.
The S&Ps look to open up 3.5 points while the yield on the 10-year
Treasury is 5.90%.
Monday Movers
Net2Phone
(
NTOP |
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News |
PowerRating) is up solidly in early morning action on news that it
has formed a new Internet voice software company in which Cisco owns an
undisclosed stake. Net2Phone closed Friday at 33 13/16 and is currently trading
up to 35 3/8 in pre-market activity.
Qualcomm
(
QCOM |
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News |
PowerRating) was one of the few tech giants to avoid the selloff on
Friday, and the wireless leader is set for a solid open on Monday. Qualcomm rose
3 1/2 to 66 1/4 on Friday and is trading up to 67 1/2 in pre-market activity.
China.com
(
CHINA |
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News |
PowerRating) is trading higher after announcing a strategic
alliance with Motorola
(
MOT |
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News |
PowerRating) to make China.com’s content available in
wireless devices in China. China.com closed Friday at 16 and is trading up to 17
in pre-market activity.
Friday Follow-up
Oracle
(
ORCL |
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Chart |
News |
PowerRating) fell 5 5/8 to 78 5/16 on Friday despite posting
better-than-expected earnings after the bell on Thursday. Slowing software sales
apparently concerned some analysts. Oracle is holding its ground in Monday
pre-market activity and is trading up slightly to 78 3/8.
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