Soft Open
Following Friday’s 2.9% Nasdaq drubbing that took the average below 4000 for
the first time since August 22, stocks look soggy at Monday’s open.
The Dow futures are down 28 points, and the Nasdaq futures are down 15.50
points.
The S&Ps look to open down 2.70 points while the yield on the 10-year
Treasury is holding steady at 5.75%.
Monday Movers
Liberate Technologies
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PowerRating) is trading higher in pre-market action on
news that Europe’s largest cable TV operator UPC will use Liberate’s digital TV
software. Liberate closed Friday unchanged at 30 and is trading up to 31 3/4 in
pre-market activity.
Medical device maker Cyberonics
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PowerRating) is trading up sharply after a
buyout offer from Medtronic
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is trading up to 24 1/2 in pre-market activity.
Also up on takeover news is San Diego, Calif.-based Dura Pharmaceuticals
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PowerRating),
which received a buyout offer from Irish drug-maker Elan Corp. Dura closed
Friday at 26 5/8 and is trading up to 31 11/16 in pre-market activity.
Friday Follow-up
In the chip sector, Intel capped-off a rough week with a 2 1/16 point fall to
65 3/8 on Friday and is currently trading up slightly to 65 7/8 in pre-market
activity. Applied Materials
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PowerRating) closed Friday at 75 1/2 and is also
trading up a tad to 75 5/8 in pre-market activity.