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MARKET PREVIEW: Investors eye quarterly reports

Another round of earnings reports will dominate the news and help investors decide whether to sustain last week's rally. Asian and European markets were mixed, and the Dow is set to open slightly higher.


Among notable companies reporting quarterly reports Monday are online security provider (Nasdaq: MCAF), chipmaker Vitesse Semiconductor (Nasdaq: VTSS) and systems developer Unisys (NYSE: UIS).

Investors will also be catching up with reports filed Thursday. Handheld computer maker Handspring (Nasdaq: HAND) reported a fiscal third quarter loss late Thursday that was in line with analysts' expectations, but warned that its current quarter's bottom line could be dented by a price war with rival Palm. Internet advertising firm DoubleClick (DCLK) also reported a mixed message; its first-quarter loss was less than expected but it said its second-quarter loss will be wider than forecasts. Rambus (Nasdaq: RMBS), the chipmaker, reported a second-quarter profit below expectations.

Technology stocks closed out the abbreviated trading week with healthy gains Thursday as the Nasdaq composite marched up 63 points to finish at 1,961.47, up 14 percent for the week.

At the Bell

The Dow Jones industrial average may open 3 points higher. The Standard & Poor's 500 index for June futures contracts was up 0.3 points to 1192 at 7:15 a.m. EDT in 24-hour electronic trading.

The Inter@ctive Week @Net Index gained 8 to 181.97.


Trading in Asia was mixed. The Nikkei 225 fell 130.83 to 13,254.89, Singapore's Strait Times index rose 1.29 to 1,593.87 and Hong Kong's Hang Seng rose 283.04 to 12,989.47.


European markets were also going in different directions. London's FTSE 100 fell 21.50 to 5,766.60, the CAC 40 in Paris rose 11.18 to 5,372.71 and the Xetra DAX in Frankfurt was up 51.14 to 6,002.30.

Reuters contributed to this report.