Take Me To Your Leader
As traders await exit poll indications as to which way the election will go,
stocks look to remain sidelined and slightly lower Tuesday morning.
The Dow futures are down 15 points, and the Nasdaq futures are down 28 points.
The S&Ps are down 4 points while the yield on the 10-year Treasury is
5.84%.
Morning Movers
Cisco Systems
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PowerRating) posted third quarter earnings of 18 cents per share
thanks to revenue increasing 60% over the same period last year. Despite beating
analyst estimates by a penny, Cisco is trading lower. After closing Monday down
1 5/8 to 55 1/8, Cisco is trading down to 54 1/4 in pre-market activity.
Networking system product maker PMC Sierra
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PowerRating) is trading sharply
lower following a price target downgrade from Bank Of America. PMC Sierra closed
Monday up 3 3/4 to 153 13/16 but is trading down to 139 3/8 in pre-market
activity.
Broadcom
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PowerRating) is also down in early morning trade following a
downgrade to a "buy" from a "strong buy" by WR Hambrecht.
Broadcom closed Monday at 219 15/16 and is trading down to 209 in pre-market
activity.
Also headed for a lower open is Xilinx
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PowerRating), which closed Monday up 1
7/16 to 72 7/8 but is trading down to 68 in pre-market activity.