Robust Open
Stocks are set for a robust open Monday on the heels of a two-day Nasdaq
turnaround that snapped a seven-week losing streak.
The Nasdaq futures are up 38 points, and the Dow futures are up 66 points.
The S&Ps look to open up 11 points while the yield on the 10-year
Treasury is holding at 4.84%.
The reports for new and existing home sales for February are due out at 10:00
AM ET. Analysts expect 912,000 new home sales and 5.04 million existing home
sales.
Monday Movers
PMC Sierra
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PowerRating) said its upcoming earnings would fall short of analyst
expectations, and that is sinking the stock in Monday trade. PMCS closed Friday
down 3.72 to 33.93 and is currently trading down to 30.50 in pre-market
activity.
Rambus
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PowerRating) is continuing its rebound from last week’s lows and is
currently trading up to 26.91 following a Friday close of 25.55. Rambus had
traded as low as 15.67 on March 16.
Also looking up in the chips is Intel
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PowerRating) which is currently trading
up to 29 7/16 following its Friday close of 28 13/16.
C-Cube Microsystems
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PowerRating) is trading sharply higher on news that LSI
Logic
(
LSI |
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PowerRating) will buy the company in a stock deal worth approximately $16.35
per share. Cube is trading up to 14 5/16 following a Friday close of 8 13/16.