Stocks Slip; Brokers Bounce
Stocks are heading for a soft open ahead of the index of leading economic
indicators which is due out at 10:00 AM ET. Estimates look for a 0.1% increase in the
index.
The Dow futures are down 25 points, and the Nasdaq futures are down 13.50
points.
The S&Ps look to open 4.80 points lower while the yield on the 10-year
Treasury has edged up to 5.83%.
Wednesday Action
After soaring 24% to 84 on Tuesday, DLJ
(
DLJ |
Quote |
Chart |
News |
PowerRating) is trading above 85 on
Instinet following news that CS First Boston will buy the broker/dealer for $90
per share. The DLJ deal will likely power interest in the broker/dealer group
again Wednesday.
Liberate Technologies
(
LBRT |
Quote |
Chart |
News |
PowerRating) gained 4 1/8 to 24 7/16 on Tuesday and is looking for
a higher open Wednesday following news that BellSouth
(
BLS |
Quote |
Chart |
News |
PowerRating) will use
Liberate’s software for its interactive television product. Liberate is
currently trading up to 26 1/4 in pre-market activity.
Geron Corp.
(
GERN |
Quote |
Chart |
News |
PowerRating) is trading sharply higher after news Tuesday that it
has discovered an enzyme that could potentially be used to fight cancer. Geron
closed Tuesday up 5/16 to 28 7/8 and is currently trading up to 37 1/4 in
pre-market activity.
Tuesday Follow-up
Comverse Technology
(
CMVT |
Quote |
Chart |
News |
PowerRating) earned 36 cents per share for its second
quarter, beating First Call/Thomson Financial estimates by 2 cents. Comverse
closed Tuesday at 89 11/16 and is trading down slightly to 89 5/8 in pre-market
activity.
Amazon
(
AMZN |
Quote |
Chart |
News |
PowerRating) gained 1/2 to 39 5/8 on Tuesday after announcing an online
marketing alliance with AOL
(
AOL |
Quote |
Chart |
News |
PowerRating). Amazon is currently trading up to 42 1/8
in Wednesday pre-market activity.
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