Looking For Buyers
Following three straight days of pullback, stocks are looking at yet another
soggy open Wednesday, as traders wait for housing numbers due out in an hour.
In economic news, March durable goods orders rose 3.0%, which topped expected
increase of 0.6%. Excluding transportation orders, however, the number fell
1.8%.
At 10:00 AM ET the new and existing home sales will be released, and analysts
look for 909,000 new home sales and 5.12 million existing home sales.
The Nasdaq futures are down 18 points, and the Dow futures are up 2 points.
The S&Ps look to open down 1.4 points while the yield on the 10-year
Treasury is holding at 5.20%.
Wednesday Movers
Juniper Networks
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JNPR |
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PowerRating) is looking at more pullback action and is trading
down to 53.69 following its Tuesday close of 57.00. That puts Juniper back below
its 50-day moving average for the first time in a week.
Novellus
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PowerRating) lost just .18 to 50.96 on heavier-than-average volume
Tuesday after beating earnings estimates. The chip maker and SOX member is
holding up well in pre-market trade and is trading down .71 to 50.25.
Qualcomm
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PowerRating) was one of Tuesday’s few tech winners, gaining 1.30 to
59.50. The wireless giant is currently trading down 50 cents to 59.00 in
pre-market activity.
Amazon
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PowerRating) posted a narrower-than-expected loss Tuesday, and that has
the e-tail giant poised for a positive open despite the general market weakness.
Amazon closed Tuesday at 15.68 and is currently trading up to 15.90 in
pre-market activity.