Ready To Roll
Stocks are poised to move higher Thursday following import price data that
suggests inflation remains in check. Import prices rose 0.8% for June, which was
ahead of the 0.6% analysts expected, but excluding petroleum, the figure was
unchanged.
The Dow futures are up 63 points, and the Nasdaq futures are up 36 points.
The S&Ps look to open up 5.70 points while the yield on the 10-year
Traesury note is steady at 6.05%.
In other economic news, jobless claims rose 27,000 to 319,000, suggesting
that cooling pressures remain in place in the economy.
This Morning
Soft drink and snack-maker PepsiCo
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of 38 cents per share, beating the 36 cents per share that First Call/Thomson
Financial had anticipated. Pepsi closed Wednesday down 7/8 to 39 3/4.
General Electric
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quarter, topping analyst estimates by a penny. General Electric closed Wednesday
up 1 1/2 to 53 3/4.
News that America Online
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software technology in its rollout of AOL 6.0 due out later this year has
RealNetworks rising in early morning action. RealNetworks closed Wednesday at 46
3/4 and is trading up to 53 9/16 in pre-market activity.
Last Night
In the B2B space, business software maker and solutions provider Ariba
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beat analyst estimates for the company’s third quarter with a
narrower-than-expected loss of 5 cents per share versus the 8 cent per share
loss that First Call/Thomson Financial had expected. Ariba closed up 12 3/8 to
103 1/2 on Wednesday and is trading up to 119 3/4 in pre-market activity.
Motorola
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estimates according to First Call/Thomson Financial. Motorola closed Wednesday
up 2 11/16 to 36 1/4.