Modestly Bouncing
Following Monday’s 5% Nasdaq swoon, stocks are poised for a modest open to
the upside in Tuesday trading.
The Dow futures are up 25 points, and the Nasdaq futures are up 22.50 points.
The S&Ps look to open up 3.90 points while the yield on the 10-year
Treasury is unchanged at 5.68%.
In economic news, the September trade deficit widened to 34.3 billion, which
was greater than the 30.5 billion analysts expected.
Tuesday Movers
Juniper Networks
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PowerRating) was Monday’s big loser, falling 32 7/8 to 121
1/2 on technology profit worries. Juniper is bouncing back somewhat in Tuesday
trade and is trading up to 123 in pre-market activity.
PMC Sierra
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PowerRating) avoided Monday’s Nasdaq fall and actually gained 5/16
to 114 1/2 on heavier-than-average volume. PMC Sierra is trading up to 116 1/2
in pre-market activity.
eBay
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PowerRating) was one of Monday’s biggest disasters, losing 8 15/16 or 20%
to 34 1/4 after Lehman Brothers downgraded the online auction giant. eBay is
holding steady Tuesday and is trading up to 34 3/4 in pre-market activity.
Oracle
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PowerRating) has also settled down Tuesday following Monday’s 4 1/16
collapse to 24 3/4 after news broke that one of its high level executives would
leave to join Veritas
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PowerRating). Oracle is currently trading up to 25 1/16 in
pre-market activity.