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Stocks Appear Headed For Mildly Higher Open

 March 09, 2011 09:14 AM
 

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial futures up 26 points.

-S&P 500 futures up 1 point.

-Nasdaq 100 futures up 2 points.

-Nasdaq-100 Pre-Market Indicator Down 1.36 at 2,336.19.

GLOBAL SENTIMENT

Nikkei up 0.6%

Hang Seng up 0.4%

Shanghai Composite up 0.1%

FTSE-100 down 0.2%

PRE-MARKET SECTOR WATCH


(+,-) Large cap tech: mixed

(+,-) Chip stocks: mixed

(+,-) Software stocks: mixed

(+,-) Internet stocks: mixed

(-,+) Drug stocks: mixed

(+) Financial stocks: firmer

(+,-) Industrial stocks: mixed

(+,-) Auto stocks: mixed

(+,-) Airline stocks: mixed

(+,-) Retail stocks: mixed

UPSIDE MOVERS


(+) RIG (+0.8%) gets favorable analyst coverage.

(+) COOL (+38%) continues evening gain that followed results.

(+) AVAV (+14%) continues evening gain that followed results.

(+) CRDN (+12%) boosts guidance.

(+) BLT (+6%) beats with Q4 results.

(+) VELT (+5%) gets favorable analyst coverage.

(+) AEZS (+18.5%) inks Japan deal.

(+) HERO (+13.5%) beats with results.

(+) STP (+4%) continues gain Tuesday that followed improved quarter.

(+) AEO (+1%) results top year-ago period; CEO to retire.

(+) PLCE (+0.6%) issues mixed results, guides below Street, sets buyback.

DOWNSIDE MOVERS

(-) FNSR (-37%) warns for Q4.

(-) JDSU (-12%) follows FNSR after warning.

(-) ALU (-2%) follows FNSR after warning.

(-) OCLR (-13%) follows FNSR after warning.

(-) CIEN (-5%) follows FNSR after warning, own results Tuesday.

(-) EPB (-3.5%) selling shares.

(-) DYN (-6.5%) warns of possible bankruptcy.

(-) POT (-2.6%) downgraded.

MARKET DIRECTION

Stock futures are moderately firmer as Wall Street tentatively looks to expand Tuesday's strong performance on a day that marks the second anniversary of the launch of the current bull market. The S&P 500 is up around 95% since its March 9, 2009 low.

Financial sector hopes fueled the first winning day in three for the broader stock market on Tuesday. Asian markets closed higher and Europe is a gainer on Wednesday.

Moderation for oil prices has helped to support stock gains. Crude oil for April delivery slipped 20 cents to $104.82 a barrel in electronic trading on Globex.


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