Techs will be on edge Tuesday, waiting to see if investors will continue the buy-back initiated late Monday. Asian markets were mixed, Europe moved up, and the Dow is set to open slightly higher.
After the Nasdaq hit new lows the year in intra-day trading Monday, techs will look to a couple of deals, another batch of earnings, and one brave IPO Tuesday.
Veritas Software (Nasdaq: VRTS) announced a partnership with Oracle (Nasdaq: ORCL) and Sun Microsystems (Nasdaq: SUNW) to provide a set of integrated services for Internet-based companies.
Time Warner Inc. (NYSE: TWX) is creating a stand-alone electronic publishing unit, according to a report in the Wall Street Journal. Microsoft (Nasdaq: MSFT) also has an electronic publishing deal; it is expected to announce partnerships with Simon & Schuster, a unit of Viacom Inc. (NYSE: VIA) and Random House, a unit of Germany's Bertelsmann AG to obtain popular titles for its book software, according to The New York Times.
Crossroads Systems (Nasdaq: CRDS),Intuit (Nasdaq: INTU), 3dfx (Nasdaq: TDFX, Novell (Nasdaq: NOVL) and VA Linux (Nasdaq: LNUX) are expected to report results Tuesday.
On the IPO front, PC timing circuit maker, Integrated Circuit Systems (Nasdaq: ICST), priced its IPO below the $15 to $17 range at $13.
Other stocks which should be among Tuesday's most actively traded issues include: Align-Rite, Caldera, Global Crossing, J.D. Edwards, Semtech and TheStreet.com.
A late rally salvaged what could have been a demoralizing day of trading Monday, as the Nasdaq composite closed off 26 points to 3,364.20 while the Dow Jones industrial average ended off 84 points to 10,542.55.
At the Bell
The Dow Jones industrial average may open about 37 points higher. The Standard & Poor's 500 index for June futures contracts was up 4.9 to 1408 at 7:26 a.m. EST in 24-hour electronic trading.
The Inter@ctive Week @Net Index was up 2 to 435.32.
Trading in Asia was mixed. The Nikkei 225 fell 0.41 to 16,318, Singapore's Strait Times index fell 1.25 percent to 1,905 and Hong Kong's Hang Seng was up 0.82 to percent to 14,257.
European markets were moving up. London's FTSE 100 climbed 0.59 percent to 6,071. The CAC 40 in Paris gained 0.64 percent to 6,133 and the DAX in Frankfurt was up 0.48 percent to 6,945 at 7:05 a.m. EST.
Reuters contributed to this report.