Techs kick off another round of earnings Monday, and look to big merger news from Time Warner again. Asian markets were mixed, Europe moved up, and the Dow is set to open slightly higher.
Time Warner Inc. (NYSE: TWX) has stolen the merger spotlight again Monday with plans combine music operations with Britain's EMI Group and create the world's largest record company. Time Warner, which is to be purchased by America Online (NYSE: AOL) in a deal announced Jan. 10, is paying about $1 billion for control of the combined music operation.
Companies slated to report quarterly results Monday include Silicon Graphics Inc (NYSE: SGI), Texas Instruments (NYSE: TXN), Compuware Corp (Nasdaq: CPWR) and Bell Atlantic (NYSE: BEL).
Neoforma (Proposed ticker: NEOF) will make its initial public offering Monday, after it was postponed Friday.
Expect the following technology stocks to be among Monday's most actively traded issues: Amazon.com, Lucent Technologies and Nortel Networks.
The Dow Jones industrial average continued its slide Friday, closing off 100 points to 11,251.71 while the Nasdaq composite marched up another 45 points to close at a record high of 4,234.90.
At the Bell
The Dow Jones industrial average may open about 60 points higher. The Standard & Poor's 500 index for June futures contracts was up 7.8 points to 1462 at 7:33 a.m. EST in 24-hour electronic trading.
The Inter@ctive Week @Net Index was up 6 to 587.23.
Trading in Asia was mixed. The Nikkei 225 rose 0.95 percent to 19,056, Singapore's Strait Times index slipped 0.61 percent to 2,064 and Hong Kong's Hang Seng was up 0.39 percent to 15,167.
European markets were on the rise. London's FTSE 100 lost 1.34 percent to 6,431. The CAC 40 in Paris slipped 0.94 percent to 5,734 and the Xetra DAX in Frankfurt was up 0.43 percent to 7,022 at 7:06 a.m. EST.
Reuters contributed to this report.