Techs Under Pressure
Pressure on technology stocks has the Nasdaq set for a negative open Tuesday
while the Dow and S&P 500 look to open relatively flat.
The Nasdaq futures are down 23.50 points, and the Dow futures are down 4
points.
The S&Ps look to open down less than a point while the yield on the
10-year Treasury is 5.82%.
Morning Movers
Yahoo!
(
YHOO |
Quote |
Chart |
News |
PowerRating) is set to announce third quarter earnings after the bell
Tuesday, and analysts expect the portal giant to post 12 cents per share. After
hitting a 52-week low Monday, Yahoo! managed to bounce and close up 4 1/2 to 85
3/4. In early action, Yahoo! is currently trading up to 87 1/8 in pre-market
activity.
In related news, Yahoo! has announced a deal with Net2Phone
(
NTOP |
Quote |
Chart |
News |
PowerRating) that
will use Net2Phone’s suite of voice services. After closing down 1 13/16 to 20
9/16, Net2Phone is trading up to 23 in pre-market activity.
Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) closed Monday up 1 1/2 to 79 5/16 and is trading up to
81 5/16 in pre-market activity on speculation China may adopt Qualcomm’s CDMA
wireless technology standard.
Chip maker Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating) is trading sharply lower following a downgrade
from Lehman Brothers
(
LEH |
Quote |
Chart |
News |
PowerRating). Following a Monday close down 2 13/16 to 67
1/2, Xilinx is trading down to 67 3/4 in pre-market activity.
Monday Follow-up
Tech leader Cisco Systems
(
CSCO |
Quote |
Chart |
News |
PowerRating) fell 2 1/2 to 53 11/16 Monday, its
lowest level since May 26. Cisco continues to look weak and is trading down to
53 in pre-market activity.