Mixed Open Despite Dell
An earnings warning from Dell has tech stocks in a sour mood Monday as
traders await another big week for earnings reports. Despite the Dell news,
stocks are looking for a mildly mixed open.
The Dow futures are up 10 points, and the Nasdaq futures are down 28 points.
The S&Ps look to open down 4.7 points while the yield on the 10-year
Treasury is holding at 5.17%.
In economic news, the December’s Index of Leading Economic Indicators is due
out at 10:00 AM ET and analysts expect a decline of 0.4%.
Monday Movers
Citing deteriorating global economic demand, Dell Computer
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it would post poorer-than-expected fourth quarter earnings, and that is hurting
the stock in Monday action. Dell, which had traded as low as 16 1/4 on Dec. 21,
had been on a tear recently and closed Friday up 1 7/16 to 25 5/8. Dell is
currently trading down to 23 3/8 in pre-market activity.
Oracle
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highest level since Oct. 31 with a gain of 3/4 to 34 9/16. Oracle is weak with
the rest of the tech arena Monday, though, and is trading down a dollar to 33
9/16 in pre-market activity.
Amgen
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patent suit over its anemia drug. Amgen closed Friday at 60 and is currently
trading up to 72 1/4 in pre-market activity.
Microsoft
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61 on heavy volume, and it appears to be holding most of those gains Monday.
Microsoft is currently trading down 3/4 to 60 1/4 in pre-market activity.
Citrix
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since June, gaining 2 1/4 to 34 7/8. Citrix is currently trading down slightly
to 34 3/4 in pre-market action.