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 (39328)	7/24/2001 8:42:28 AM
From: Dealer	Respond to of 65232

M A R K E T .. S N A P S H O T -- Stocks readying for mixed open By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 7:32 AM ET Jul 24, 2001 NEW YORK (CBS.MW) -- Investors are again displaying a cautious tone Tuesday as they prepare to digest another helping of earnings news. September S&P 500 futures gained 2.50 points, or 0.2 percent, but were trading about 1.60 points below fair value, according to HL Camp & Co. And Nasdaq futures rose a feeble 2.20 points, or 0.2 percent. There was plenty of activity in the pre-market among stocks that reported after the closing bell Monday. AT&T (T) lost 17 cents to $19.88 in early action in London. The company posted after the close a second-quarter profit from operations of 4 cents a share, topping the First Call estimate by a penny. Profits were down substantially from last year's second quarter amid additional deterioration in Ma Bell's long-distance business. Looking ahead, AT&T said it expects profit from operations of 2 to 5 cents a share in the third quarter vs. the First Call estimate of 6 cents a share. Texas Instruments traded lower after the chip outfit (TXN) posted late Monday second-quarter earnings of 3 cents a share, a penny ahead of expectations. The company said the rate of sequential decline for semiconductor orders has slowed, and that it appears its semiconductor revenue is nearing a bottom. And Amazon (AMZN) traded at $15.10, down 93 cents from the close Monday. The e-tailer posted a second-quarter loss of 16 cents a share vs. the 33-cent loss registered in the year-ago quarter and the 22-cent loss that had been expected by First Call. The company also broadened an e-commerce pact with AOL Time Warner that includes a $100 million stake in Amazon.com. For the third quarter, Amazon expects sales to come in between $625 million to $675 million, far below the $732.93 million analysts had expected. Meanwhile, BMC Software (BMC) reported late Monday a first-quarter profit of 7 cents a share, matching the lowered First Call estimate. The software outfit made 4 cents a share in the year-ago quarter. And Computer Associates posted late Monday first-quarter earnings of 55 cents a share, surpassing the First Call estimate of 48 cents a share and up from the 33 cents made in the year-ago quarter. The company said that while it expects the balance of the year to be challenging for the tech industry, it believes it's well-positioned thanks to its tight cost structure. The stock closed down 1 percent. Altera (ALTR) posted late Monday a second-quarter profit of 9 cents a share, a penny ahead of the First Call estimate. The stock closed down 2 percent. Treasury and economic focus Over in the government bond arena, prices traded a touch higher out of the gate. The 10-year Treasury note was up 11/32 to yield ($TNX) 5.20 percent while the 30-year government bond added 2/32 to yield ($TYX) 5.52 percent. No economic data is set for release on Tuesday. Fed chair Alan Greenspan will again take the podium -- this time before the Senate -- to deliver his semi-annual speech on the U.S. economy. While the speech will be a repeat of last Wednesday's before the House Financial Services Committee, the question and answer session may shed some more light on the central bank chief's views on the economy. and economic calendar and forecasts. In the currency sector, dollar/yen inched down 0.2 percent to 124.12 while euro/dollar edged up 0.3 percent to 0.8707. --------------------------------------------------------------------------------