Option Investor
Market Updates

Stock futures posting gains

Printer friendly version

Stock futures are posting gains this morning with S&P futures higher by 2.6 points, NASDAQ futures are up 18 and Dow futures are bid higher by 20 points. Bonds YIELDS are mixed this morning with YIELD on the 30-year (TYX.X) and 10-year (TNX.X) down marginally at 5.679% and 5.349% respectively. The 5-year YIELD (FVX.X) is higher at 4.920%.

Biotech in the spotlight

Promising results for drugs currently being developed for psoriasis by Biogen (NASDAQ:BGEN) and Genentech (NYSE:DNA) that are in late stage development have doctors talking positive about the future for patients suffering from the skin disease. Biogen is working with a smaller biotech company Xoma (NASDAQ:XOMA) on a drug called Xanelim, while Biogen's drug is called Amevive. All three stocks were mentioned in this weekend's issue of Barron's and could be active today.

Cisco eyeing Marconi?

The Monday morning rumor mill talk is that Cisco Systems (NASDAQ:CSCO) might be looking at the purchase of Marconi (NASDAQ:MONI) to fill a gap in its European sales. A report cited an unnamed sources that said Cisco is seeking to "plug a gap" in its European sales. U.K. bases Marconi shares rallied 5.3% in London after finishing Friday's trading session at $10. Shares of Cisco (CSCO) are edging higher this morning in pre- market trading at $18.92. Shares of CSCO finished Friday's session at $18.85.

Jeff Bailey
Senior Market Technician

Intraday Update Archives