Techs Take Charge
Stocks are set to build Tuesday on Monday’s big 4.8% Nasdaq
gain, and techs once again look ready to move the Nasdaq to new three-month
highs.
Positive comments
from Treasury Secretary Paul O’Neill may also be contributing to the market’s
positive lean. O’neill thinks the economy can return to a 3.5% to 4.0% growth
rate without generating inflationary pressure.
The Nasdaq futures are up 21.50 points, and the Dow futures are
up 5.0 points.
The S&Ps look to open up 2.4 points while the yield on the
10-year Treasury is 5.39%.
Tuesday Movers
Sun Microsystems
(
SUNW |
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PowerRating) is set to add to Monday’s 15% gain
and is currently trading up to 23.39 in pre-market action following Monday’s
22.96 close.
Ciena
(
CIEN |
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PowerRating) is set for a positive jump to its highest
level since April 23. The optical giant gained 3.44 to 60.79 Monday and is
currently trading up to 63.90 in pre-market activity.
Yahoo
(
YHOO |
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PowerRating) is showing some kick in early-market action
and is currently trading up to 22.20 following a Monday close of 21.50.
Internet service provider Earthlink
(
ELNK |
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PowerRating) is getting a
boost from news that AOL will raise its monthly subscription rate. The Pasadena,
Calif.-based ISP is trading up to 14.60 following a Monday close of 13.49.