To: Didi who wrote (249 ) 6/16/2000 9:22:00 AM From: Didi Respond to
"Stock Ticker" by Briefing.com...briefing.com 09:15 ET : The S&P futures have slipped a bit, closing up 3.5, indicating a slightly higher Dow open... The Dow futures are up 17 while the Nasdaq futures are up 27... Networking issues should get a boost from Prudential which initiated coverage on the following companies with a STRONG BUY and respective price targets: CSCO $100, JNPR $330, FDRY $165, ATON $120, EXTR $130... Rambus (RMBS 56 11/16) continues to surge, trades up to 75 pre-market, on news of deal with Toshiba, as well as an upgrade from Morgan Stanley to STRONG BUY... Other companies seeing early buying interest are Charter One Financial (CF 26 3/4) which will be added to the S&P 500 Index; Semtech (SMTC 63 1/2) which will replace Charter One in the S&P MidCap 400; and Texaco (TX 56 15/16) which is higher on BusinessWeek article reporting that company has been in active negotiations with Royal Dutch Petroleum (RD) regarding a buyout by RD.08:50 ET : The futures market points toward a continuation of yesterday's modest gains as the S&P futures are trading up 5.4 points above fair value of -2.6, indicating a Dow open about 20-25... Also trading higher are the Dow and Nasdaq futures by 17 and 28, respectively... The technology sectors is expected to head higher at the open, and Rambus (RMBS 56 11/16) should be an upside leader as the stock trades up 13 in pre-market on news of a license agreement with Toshiba for SDRAM, Double Data Rate (DDR) SDRAM, DDR FCRAM memory and Controllers that directly interface with these types of memory... Red Hat (RHAT 23 3/8) picks up 2 after yesterday's report of a Q1 loss of $0.02 a share, beating consensus by 2 cents... On the downside, Xerox (XRX 25 5/16) lost 3 in pre-market after warning that Q2 results will disappoint... Earnings reports are out from Circuit City (CC 37 3/8) which matched estimates with $0.28 and Lehman Brothers (LEH 89 1/2) which posted a much better than expected $2.78... As for today's economic data, Housing Starts fell a larger than expected 3.9% to a 1.592 mln annual unit pace in May... Permits fell 4.3% to a 1.492 mln annual unit pace... Lowest housing number since June of 1999, lowest permit number since December of 1997.08:00 ET : European Market S & P Sep futures are about four points above fair value at 1503 indicating a positive 25 - 30 point open on the Dow. Bonds are +2/32 at 5.917%. Table of overnight activity in the stock, bond, and FX markets.07:55 ET : European Market FTSE is up 29 points or 0.5% at 6,519 and the DAX is down 39 points or 0.5% at 7,288 in mixed trade. Three stocks rose for every two that fell. Mining stocks rose in line with the recent surge in metal prices. Sentiment is mixed as punters question the extent of the US slowdown and what that means for rates.07:50 ET : Asian Market The Nikkei closed down 0.1% or 20 points to 16,318 in mixed two way trade. Computer and technology related stocks rose on the back of Nasdaq but the Seven-Eleven convenience store chain fell on news that the second largest store chain, Lawson, is to list on the TSE. Apart from that there are lingering concerns over the state of domestic consumer demand generally. The Hang Seng rose 2.2% or 354 points to close at 16,434 with Chinatel leading the way on continued strong subscriber growth.<<<
