Sagging Open
Following last week’s solid, snap-back rally that suggested that some form of a
bottom might have been put in place, stocks are sagging at the open Monday, as
Wall Street awaits this week’s economic numbers.
The Dow futures are down 32 points, and the Nasdaq futures are down 45
points.
The S&Ps look to open down 5 points while the yield on the 10-year
Treasury is 5.61%.
Monday Movers
In the fiber optic arena, Corning
(
GLW |
Quote |
Chart |
News |
PowerRating) posted third quarter earnings of
55 cents per share which beat First Call/Thomson Financial estimates of 34 cents
per share. Corning closed Friday up 10 3/4 to 105 15/16.
RealNetworks
(
RNWK |
Quote |
Chart |
News |
PowerRating) is up in early action following word that Sony will
use RealNetwork’s audio products in Sony electronic devices. RealNetworks closed
Friday up 3 to 22 and is currently trading up 2 5/8 to 24 5/8 in pre-market
activity.
B2B leader Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) is trading higher on news that the company will
be added to the Nasdaq 100 on October 27. Ariba closed Friday down 1/2 to 129
13/16 and is trading up to 139 in pre-market activity.
Friday Follow-up
Friday’s big winner was SDL Inc.
(
SDLI |
Quote |
Chart |
News |
PowerRating), which gained 49 29/32 to 339 1/32 following
a stronger-than-expected third quarter earnings report. SDLI is holding Friday’s
gains and is trading at 339 in pre-market activity.
Also in the optical networking arena, JDS Uniphase
(
JDSU |
Quote |
Chart |
News |
PowerRating) is trading at
102 1/4, down slightly from Friday’s 102 3/8 close. JDSU is scheduled to report
earnings this week.