Leaning Green
Stocks are leaning toward green Thursday following a weekly jobless claim
report that showed an increase of 15,000 to 407,000. The Street had expected
390,000, so the figure again reinforces the general consensus that the cooling
economy will prompt more Fed rate cuts.
April’s existing home sales report is due out at 10:00 AM ET, and analysts
expect to see 980,000 sales.
The Nasdaq futures are trading up 11 points, and the Dow futures are trading
up 20 points.
The S&Ps look to open up 1.10 points while the yield on the 10-year
Treasury is holding at 5.39%.
Thursday Movers
Wednesday’s big winner Genome Therapeutics
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PowerRating) is set for a higher
open. GENE gained 4.00 to 13.50 Wednesday and is currently trading up to 14.15
in pre-market activity.
Veritas Software
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PowerRating) is edging higher on heavy pre-market volume
following a two-day pullback. The Mountain View, Calif.-based company is trading
up to 75.00 following a Wednesday close of 73.95.
Juniper Networks
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PowerRating) has been relatively quiet during the recent
Nasdaq run but is showing some upside Thursday. Juniper closed Wednesday at
53.45 and is currently trading up to 54.24 in pre-market activity.
Bellwether Cisco Systems
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PowerRating) is looking at a slightly higher open and
is currently trading up to 22.49 following its Wednesday close of 22.43.