Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (37471)	6/5/2001 8:31:43 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

M A R K E T .. S N A P S H O T -- More upside in store for shares By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 8:29 AM ET Jun 5, 2001 NEW YORK (CBS.MW) -- Investors are poised to push shares a tad higher Tuesday as they ponder the latest earnings guidance from companies. In the futures markets, the June S&P 500 contract gained 2.20 points, or 0.1 percent, and was trading roughly 3.20 points above fair value, according to HL Camp & Co. And Nasdaq futures put on 22.00 points, or 1.2 percent. Among companies changing hands before the official opening bell, Xilinx (XLNX) climbed $2.41 to $44 in Instinet. The programmable logic device maker said in its mid-quarter update after the close Monday that fiscal first-quarter revenue should come in as expected for the quarter -- down 15 to 25 percent vs. the fourth quarter. The company also said cancellations and delays have slowed considerably. Comverse Technology (CMVT) climbed almost 7 percent after posting late Monday a first-quarter profit of 43 cents a share, surpassing the First Call/Thomson Financial estimate by a penny and well ahead of the 32 cents a share it earned in the same quarter last year. Lehman Brothers reiterated its "strong buy" rating on the company and said it believes investors may pay a premium for consistency. Biotech firm Human Genome Sciences (HGSI) said its drug Albutropin received clearance from the Food & Drug Administration to initiate Phase 1 human clinical trials on growth hormone deficient adults. The stock tacked on over $3 in the pre-market. In other news, Dow stock Hewlett-Packard (HWP) downwardly revised its second-quarter results to reflect a $400 million pre-tax charge it's taking to settle a patent infringement suit with Pitney Bowes (PBI). H-P trimmed second-quarter earnings per share to 3 cents from 15 cents. In analyst actions, Lehman raised its rating on retailer J.C. Penney (JCP) to a "strong buy" from a buy." The brokerage said current valuations for Eckerd suggests J.C. Penney's drug store business is worth more than the current overall stock price. "We believe management has correctly identified Eckerd as the catalyst with the strongest near-term potential to impact profit," analyst Jeffrey Feiner told clients. In addition, Lehman sees an improving competitive position for department stores over the longer term. Over in the Treasury arena, prices wandered close to the unchanged mark, mirroring Monday's ho-hum activity. The 10-year Treasury note was up 6/32 to yield ($TNX) 5.35 percent while the 30-year government bond gained 5/32 to yield ($TYX) 5.695 percent. A gaggle of economic reports will be unleashed Tuesday, including first-quarter productivity, expected to fall 0.7 percent, and April factory orders, seen sliding 2.5 percent. The NAPM non-manufacturing index for May will also be out and is seen coming in at 47.7 percent. View Economic Preview and economic calendar and forecasts. In the currency segment, dollar/yen crept up 0.5 percent to 119.85 while euro/dollar subtracted 0.1 percent to 0.8464.