Stock futures are lower this morning, thus indicating a lower open. Currently we're seeing S&P 500 futures trade lower by 5 points, NASDAQ futures are off 18 and Dow futures are down 75. Fair value for the S&P 500 today is $6.92. Computers are set for buying at $8.51 and set for selling at $5.53. Fair value for the NASDAQ-100 today is $15.00. If you'd like more information on fair value and its uses, jump over to www.programtrading.com.
WorldCom reaffirms guidance
Shares of WorldCom (NASDAQ:WCOM) are bid higher this morning to $15.05 in pre-market trading after the company reaffirmed its second-quarter financials. The telecom giant said revenue for the second quarter is expected to be in the $5.3-$5.4 billion range, which represents growth of 11 to 13 percent over the same period a year ago. WCOM said earnings for the period are expected to be 28 to 29 cents a share, which is inline with the consensus estimates. Shares of WCOM finished Tuesday's trading at $14.47
ASM Lithography warns
Shares of semiconductor equipment maker ASM Lithography (NASDAQ:ASML) are bid lower this morning to $19.35 after the company said that slowing demand in the U.S. would cause second quarter revenues at its U.S. operations to drop by more than 40%. This exceeds earlier guidance or a decline in the 30-40% range. The company also expects costs of approximately $50 million at its U.S. unit because of the sharp decline in order backlog and shipments in the second quarter.
ASM Lithography Chart - last eleven months