Leaning Green
Following Monday’s mixed session, stocks are set for a higher open in unison,
as traders await economic news due out later this morning.
The Dow futures are up 28 points, and the Nasdaq futures are up 41 points.
The S&Ps look to open up 3.8 points, while the yield on the 10-year
Treasury is 5.73%.
In economic news, the October consumer confidence numbers and the September new-home sales will be released at 10:00 AM ET. Street estimates look for a 140.0 reading in consumer confidence and 894,000 new home sales.
Morning Movers
Cisco
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PowerRating) traded as low as 45 1/4 Monday following a downgrade from
Lehman Brothers but managed to close down just 2 5/8 to 48 1/16. Cisco is
getting a bounce in early trade and has moved up to 49 in pre-market activity.
PMC Sierra
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PowerRating) is one of the former highflyers to pullback sharply
in the last week, as many of the networking chip makers threw in the towel. PMCS
fell 11 1/4 to 152 3/4 on Monday for its lowest close since late May but is
currently trading up to 155 in pre-market activity.
In the semis, getting a bounce in Tuesday trade is Xilinx
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PowerRating), which
after closing Monday at 66 7/8, is trading up to 70 1/16 in pre-market
activity.
In the B2B space, Ariba
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PowerRating) is hovering just above its 200-day moving
average and may be set to bounce off of it. Ariba closed Monday at 112 3/16 and
is trading up to 114 in pre-market activity.