Warnings Galore
Amid yet another flurry of pre-announcements and warnings, stock are looking
at down open Tuesday as traders await the February construction spending
numbers due out at 10:00 AM ET.
Analysts expect to see a 0.2% decline in construction spending.
The Dow futures are down 75 points, and the Nasdaq futures are down 17
points.
The S&Ps look to open down 6.7 points, and the yield on the 10-year
Treasury is holding at 4.97%.
Tuesday Movers
Reflecting the sour mood in tech, Cisco
(
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PowerRating) is trading down to 14 3/4
following its Monday close of 15 1/16. Cisco is currently at October 1998 levels
but is still hold above its October ’98 low of 10 9/32.
Despite the ongoing tech swoon, WorldCom
(
WCOM |
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PowerRating) continues to hold up
relatively well. WCOM closed Monday at 18 5/8 and is trading down to just 18 3/8
in pre-market activity.
The long-ago hot B2B sector is under yet more pressure following Monday’s
earnings warning from Ariba
(
ARBA |
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PowerRating). The company closed at 6 17/32 and is
currently trading down to 4 13/16 in pre-market activity.
Also taking a hit from the Ariba meltdown is Agile Software
(
AGIL |
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PowerRating) which
is trading down to 8 3/8 following a Monday close of 10 1/2. Agile was slated to
merge with Ariba, but that deal has been cancelled.
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