MARKET PREVIEW: Investors eye Microsoft, Texas Instruments

2 min read

Investors will be watching Microsoft and Texas Instruments Thursday as they await indications on whether Wednesday's rally will continue. Asian markets were down, Europe was mixed, and the Dow is set to open slightly lower.


Texas Instruments' (NYSE: TXN) $7.6 billion stock deal to buy Burr-Brown (Nasdaq: BBRC), a specialty microchip producer, will take the spotlight Thursday. Based on Wednesday's closing prices, the deal is worth $106.60 a share, a 47 percent premium.

Investors will also keep an eye on Microsoft (Nasdaq: MSFT); the stock gained 7 percent Wednesday, helping hoist the Nasdaq into a rally after news business restrictions had been frozen on the company as it appeals the ruling in its anti-trust trial.

Earnings are due out from Tektronix (NYSE: TEK) Thursday morning, and a report from Micron Electronics (NYSE: MU) is due out after the closing bell.

The following technology stocks to be among Thursday's most actively traded issues: Cognos, Manugistics, Texas Instruments and Tibco Software.

Microsoft helped lift technology stocks higher Wednesday as the Nasdaq composite picked up 51 points to close at 4,064.29. The Dow Jones industrial average moved up 63 points to close at 10,497.74.

At the Bell

The Dow Jones industrial average may open about 30 points lower. The Standard & Poor's 500 index for June futures contracts was down 4.3 to 1494 at 7:31 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index was up 5 to 513.30.


Trading in Asia was moving down. The Nikkei 225 fell 0.60 to 17,106, Singapore's Strait Times index fell 0.04 percent to 2,028 and Hong Kong's Hang Seng was down 1.76 percent to 15,952.


European markets were moving in different directions. London's FTSE 100 rose 0.05 percent to 6,481. The CAC 40 in Paris rose 0.22 percent to 6,523 and the DAX in Frankfurt was down 0.13 percent to 7,091 at 6:57 a.m. EST.

Reuters contributed to this report.