Week Starts Weak
Stocks are looking to add to Friday’s weakness as blue chips as well as techs
appear under pressure as the new week begins weak.
The Nasdaq futures are down 43 points, and the Dow futures are down 63
points.
The S&Ps look to open down 14.40 while the yield on the 30-year Treasury
id holding at 5.30%.
Monday Movers
Intel
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PowerRating) is seeing continued weakness on the heels of its warning
that sank the Nasdaq Friday. Intel lost 3 13/16 to 29 7/16 on Friday and is
currently trading down to 29 7/16 in pre-market activity.
Despite a favorable article in Barron’s, Applied Materials
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PowerRating) is
lower as well. The chip maker is currently trading down to 45 1/8 following a
Friday close of 46 3/4.
Ariba
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PowerRating) pretty much sums up the change from just a year ago. The
once red hot B2B is currently trading down to 10 13/32 following a Friday close
of 11 1/2. Ariba peaked last Mar. 8 at 183 11/32.
Juniper Networks
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PowerRating) is looking particularly weak and is trading down
to 50 7/8 following a Friday close of 55 3/32.