MARKET PREVIEW: Techs try to shrug warnings

2 min read

The Nasdaq's hopes for a rebound may be foiled Monday, with bad news from Texas Instruments already souring the day. Asia and Europe were mixed, and the Dow is set to open slightly higher.


Investors will be eyeing Texas Instruments (NYSE: TXN) after the company cut its revenue outlook for the first quarter--it's been only a month since the company already lowered expectations.

Other movers could include VeriSign (Nasdaq: VRSN); acccording to Sunday's edition of the Financial Times, the company's going to triple the number of Internet domain names available to consumers by taking registrations in more than 60 different languages.

Expect the following technology stocks to be among Monday's most actively traded issues: GoAmerica, Siebel Systems and VeriSign.

Technology stocks managed to snap their lengthy losing streak Friday as the Nasdaq composite moved up 15 points to close at 2,260.09. But it was a hollow victory considering the index lost more than 164 points for the week. The Dow Jones industrial average lost 87 points to close at 10,440.00.

At the Bell

The Dow Jones industrial average may open 54 points higher. The Standard & Poor's 500 index for June futures contracts was up 6.5 points to 1254 at 7:45 a.m. EST in 24-hour electronic trading.

The Inter@ctive Week @Net Index was unchanged at 229.98.


Trading in Asia was mixed. The Nikkei 225 shed 44.86 to 13,201.14, Singapore's Strait Times index rose 13.45 to 19,60.31 and Hong Kong's Hang Seng dropped 50.34 to 1,5230.22 .


European markets were also going in different directions. London's FTSE 100 fell 12.00 to 5,931.70, the CAC 40 in Paris gained 77.49 to 5,400.33 and the Xetra DAX in Frankfurt was up 102.47 to 6,177.81 at 7:45 a.m. EST.

Reuters contributed to this report.