Sun Applauded; Agilent Shredded
Following Thursday’s big gains, stocks look to open moderately lower Friday
as earnings season continues to roll along. Alan Greenspan’s soothing words
toward inflation and interest rates Thursday are credited with the positive
moves in both stocks and bonds.
In early indications, the Dow futures are down 48 points, and the Nasdaq
futures are off 32 points.
The S&Ps look to open down 5.7 points while the yield on the 10-year
Treasury note has eased to 6.00%.
This Morning
Photography giant and Dow component Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) posted second
quarter earnings of $1.65 per share, matching estimates according to First
Call/Thomson Financial. Kodak closed Thursday up 13/16 to 59 7/8.
3Com spin-off Palm
(
PALM |
Quote |
Chart |
News |
PowerRating) is up nearly 2 points to 38 5/8 in pre-market
activity. Standard & Poor’s announced yesterday that Palm would replace its
parent company 3Com in the S&P 500 on July 27.
Genomic and biotech company Affimetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating) announced a 2-for-1 stock
split payable on August 21 to shareholders of record on August 10. Affimetrix
closed Thursday at 190 5/16 and is trading up to 191 1/4 in pre-market activity.
On Thursday
Sun Microsystems
(
SUNW |
Quote |
Chart |
News |
PowerRating) saw fourth quarter earnings surge to 39 cents
per share, topping analyst estimates of 33 cents per share. After closing
Thursday up 4 1/8 to 98 1/16. Sun Microsystems is trading up another 5 9/16 to
103 5/8 in pre-market activity.
Hewlett Packard spin-off Agilent
(
A |
Quote |
Chart |
News |
PowerRating) said it expected a sharp shortfall in
its third quarter earnings which would likely come in at 18 to 22 cents per
share, well below the 35 cents that First Call/Thomson Financial had expected.
Agilent sank more than 20 points to 54 in after hours trading on Thursday.