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Nasdaq may ease into holiday

Technology stocks are to digest another spate of warnings, and trading could be light as investors leave early for the July Fourth weekend. The Dow was set to open slightly lower.

Technology stocks will digest another spate of warnings Tuesday, and trading could be light as investors trickle out early for the July 4 weekend. The Dow was set to open slightly lower.

In economic news, the government will report May factory orders just after the markets open. Economists expect a 1.5 percent increase after a 3 percent decline in April.

The markets will close early Tuesday ahead of the July Fourth weekend--at 1 p.m. EDT.

Stocks to watch
• Internet Security Systems could get some negative attention after announcing that second-quarter results will miss estimates. The maker of computer-security software and services said its second-quarter loss, excluding acquisition costs, would be around 2 cents a share to break even on revenue of $50 million to $52 million. According to First Call, the company was expected to have profit of 15 cents a share on revenue of $65.7 million.

• Rational Software also reduced its projections. The software maker said it now expects earnings for the fiscal first quarter ended June 30, excluding unusual costs, to come in between 7 cents or 8 cents per share on revenues of $172 million to $176 million. First Call had been predicting a profit of 8 cents a share on revenue of $185 million.

• Flextronics International said it's deal with Motorola has unraveled. The contract manufacturer had agreed to make more than $30 billion of Motorola products.

Flextronics also said it will repurchase an equity stake that was part of last year's deal. Wireless technology giant Motorola bought a stake in the company at a discount for an initial payment of $100 million that was convertible over time into 11 million shares of Flextronics stock, or a 5 percent stake.

• Sybase, a maker of database software, said its second-quarter earnings would be in line expectations. First Call predicted the company would earn about 23 cents a share.

Sybase also said its full year 2001 pro forma operating earnings would come in around between $1.10 and $1.20 a share. First Call was expecting Sybase to post a profit of $1.13 as share. Second-quarter revenue will be approximately $232 million, slightly lower than the $265 million predicted by First Call.

At the bell
The Dow Jones industrial average may open 16 points higher. The Standard & Poor's 500 index for June futures contracts was off 1.9 points to 1,244 at 7:10 a.m. EDT in 24-hour electronic trading.

Reuters contributed to this report.