Upside Open
Stocks are set to open higher Monday, just a day ahead of the Federal Reserve FOMC
meeting where the general Street consensus sees no rate hike occurring.
The Dow futures are up 70 points, and the Nasdaq futures are up 14.5 points.
The S&Ps look to open up 2.7 points while the yield on the 10-year
Treasury is 5.78%.
Early Morning
Internet digital certificate provider Verisign
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PowerRating) closed Friday at
159 3/4 and is trading up to 168 1/8 following an upgrade from Merrill Lynch.
Verisign also announced a major investment in Slam Dunk Networks, a provider of
secure Internet message delivery systems.
Arizona-based Microchip Technology
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PowerRating) announced that it will split
its stock 3-for-2 for shareholders of record on September 5. The split will take
place at the close of trading on September 26. Microchip closed Friday at 68 1/4
and is trading at 68 3/32 in pre-market activity.
Friday Follow-up
Sun Microsystems
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PowerRating) hit an all-time high Friday and looks to be
working its way higher Monday. Sun ended Friday’s session at 122 3/8 and is
trading at 123 in pre-market activity.
Following last week’s big run on better-than-expected earnings, Ciena
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PowerRating) ended Friday down 2 5/8 to 176 5/8. Ciena is getting a small bounce
in pre-market activity, trading up to 177 1/2.