Traders are looking at a mixed open for stocks this morning as S&P futures edge higher by 0.50 points to 1,077.70, while NASDAQ futures trade off 3 points at 1,277 and Dow futures gain 18 points at 9,950.
Fair value for the S&P 500 today is $0.85. That price will not change during the day. HL Camp & Company has their computers set for program buying at $1.58 and set for program selling at $-0.72. Fair value for the NASDAQ-100 today is $3.95.
Sun Microsystems set to open lower
Shares of Sun Microsystems (NASDAQ:SUNW) $8.18 are the most actively traded in pre-market action at $7.40 (-9.5% from yesterday's close), which would be a new 52-week low after Sun's COO Edward Zander said he will be turning over his duties to Sun's chairman Scott McNealy effective July 1. Sun said it is not planning to name a replacement for Zander.
Compaq/HP deal looks done
Shares of Compaq Computer (NYSE:CPQ) $10.15 are showing gains to $10.67 (+5.12% from close) after Hewlett-Packard's dissident holder Walter Hewlett signaled he won't press his case further after a Deleware Judge on Tuesday dismissed Mr. Hewlett's suit that aimed to block the $18.4 billion Hewlett Packard (NYSE:HWP) $17.10 merger with Compaq (CPQ). Shares of HWP are lower by $0.10 to $17.00 in Redibook ECN trading.
Gilead showing gains
Shares of biotech Gilead Science (NASDAQ:GILD) $31.20 are gaining $1.73 in pre-market action after the firm said its first-quarter loss narrowed as revenue climbed. Helping boost the stock this morning was RBC Capital Markets upgrading the stock to "outperform."