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MARKET PREVIEW: Techs eye earnings reports

Investors will greet the short week by eyeing a few earnings reports and dealing with more profit warnings. Asian markets were down, European markets were mixed, and the Dow is set to open slightly higher.


Although the market will be closed for Good Friday, and trading is expected to be light during the shortened week, technology stocks have a full calendar. It's the beginning of earnings season and reports from Motorola (NYSE: MOT) and Yahoo (NYSE: YHOO) are on deck this week.

Investors will be eyeing profit warnings again Monday, as the market absorbs news that Compuware (Nasdaq: CPWR) will meet the consensus earnings estimate but fall short on revenue in its fourth-quarter report.

Expect the following technology stocks to be among Monday's most active issues: Compuware, Cisco and iAsiaWorks.

Technology stocks returned to their losing ways on Friday. After Thursday's respite, the tech-infused Nasdaq composite index dropped 64.61 to 1,720.39 on Friday. The S&P 500 fell 23.01 to 1,128.43, and the Dow Jones industrial average slid 126.96 to 9,791.09.

At the Bell

The Dow Jones industrial average may open 2 points lower. The Standard & Poor's 500 index for June futures contracts was of 0.2 points to 1140 at 7:15 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index fell 7 to 148.44.


Trading in Asia was mixed. The Nikkei 225 fell 542.00 to 1,2841.76, Singapore's Strait Times index fell 75.23 to 1,594.95 and Hong Kong's Hang Seng shed 184.51 to 12,202.10.


European markets also moved in different directions. London's FTSE 100 fell 9.30 to 5,592.20, the CAC 40 in Paris lost 16.35 to 5,123.36 and the Xetra DAX in Frankfurt was up 14.86 to 5,713.74.

Reuters contributed to this report.