Nasdaq Bounce
With no major economic numbers out until Thursday’s Producer Price Index and
retail sales numbers, the Nasdaq is looking at an early-morning bounce while the
Dow is edging lower.
The Nasdaq futures are up 37.50 points, and the Dow futures are down 3
points.
The S&Ps look to open up 3 points while the yield on the 10-year Treasury
is holding steady at 5.75%.
Tuesday Earnings
Electronics retailer Best Buy
(
BBY |
Quote |
Chart |
News |
PowerRating) posted second quarter earnings of 36
cents per share, which beat the 34 cents per share that analysts polled by First
Call/Thomson Financial had expected. Best Buy closed Monday up 1 15/16 to 64
7/16.
Electronics manufacturing service provider Solectron
(
SLR |
Quote |
Chart |
News |
PowerRating) earned 27
cents per share for the company’s fiscal fourth quarter that ended August 25,
and that beat First Call/Thomson Financial estimates by a penny. Solectron
closed Monday down 2 1/2 to 46.
PRI Automation
(
PRIA |
Quote |
Chart |
News |
PowerRating) warned that its fourth quarter earnings would come
in well below analyst expectations, and that has caused the stock to crater in
pre-market action. After a close of 42 3/4, PRIA is trading down to 23 3/4 in
pre-market activity.
Monday Follow-up
After falling 3 7/16 to 58 1/8 on Monday, shares of Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) have
bounced back nicely Tuesday and are currently trading back up to 62 in
pre-market activity.
B2B Commerce One
(
CMRC |
Quote |
Chart |
News |
PowerRating) avoided the tech selloff Monday and closed up 3
5/8 to 75. Commerce One is again moving higher in Tuesday action and is trading
up to 77 3/4 in pre-market activity.