Soggy Open
Stocks are soggy Tuesday following a weaker-than-expected durable goods
order report that adds to the growing evidence of an anemic economy. Traders
will be monitoring Alan Greenspan for additional interest rate clues as the
Chairman addresses a group of economists.
Durable goods orders for February fell 0.2% which was below the 0.5% increase
analysts had expected. Traders now await the March consumer confidence numbers
which are due out at 10:00 AM ET.
The Dow futures are down 55 points, and the Nasdaq futures are up 2 points.
The S&Ps look to open down 2 points while the yield on the 10-year
Treasury is holding at 4.84%.
Tuesday Movers
Graphics processor maker NVIDIA
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NVDA |
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PowerRating) added 3 5/8 to 70 5/8 Monday and
is set for a positive open Tuesday as well. NVIDIA is currently trading up to 70
3/4 in pre-market activity.
Openwave Systems
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PowerRating) is looking at a positive bounce and is currently
trading up to 26 following a Monday close of 24.84. Openwave makes Internet
infrastructure software.
Wireless giant Qualcomm
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QCOM |
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PowerRating) is also edging higher in early trade and
is currently trading up to 57 3/4 following a Monday close of 56 5/8.
Vitesse Semiconductor
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VTSS |
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PowerRating) is under heavy pressure after issuing its
second earnings warning in three weeks. Following a Monday close down 2 5/16 to
33 15/16, Vitesse is currently trading down to 29 7/8 in pre-market activity.
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