Mixed Opening
A downward revision in first quarter GDP and an upgrade of the chip sector by
Prudential are giving stocks a lift Friday ahead of the long Memorial Day
weekend.
In other economic news, the April existing home sales report is due out at
10:00 AM ET, and analysts expect a figure of 5.25 million.
The Nasdaq futures are up 8 points, and the Dow futures are down 20 points.
The S&Ps look to open flat while the yield on the 10-year Treasury is
5.39%.
Friday Movers
In the chips, Applied Materials
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Thursday’s close of 54.42 and KLA Tencor
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following its previous close of 57.07.
After finishing strong Thursday at its highs of the day, Cisco
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edging higher and is trading up to 23.05 following its previous close of 22.91.
Following a big gain of 3.56 to 8.50, shares of TiVo
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more upside. TIVO is currently trading up to 10.80 in pre-market activity.
Microsoft
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to 71.89 following its Thursday close of 71.72.