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Microsoft surge has futures higher

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Shares of Microsoft (NASDAQ:MSFT) $53.00 jumped higher late Friday after an appeals court affirmed a settlement to the long- running antitrust case and the stock posts further gains this morning in pre-market trading at $57.00, up 7.5% from Friday's close.

Gains in the world's largest software maker are also giving a boost to other bellwether technology names as chipmaker Intel (NASDAQ:INTC) $18.30 adds 60 cents to $18.90, Cisco Systems (NASDAQ:CSCO) $11.60 is bid higher by 73 cents at $12.33, while IBM (NYSE:IBM) $80.40 gains $1.60 to $82.00 over the Redibook ECN.

Adding a boost outside the computer-related technology arena are shares of biotech giant Amgen (NASDAQ:AMGN) $46.60 as it gains 65 cents a share to $47.25. On Sunday, Amgen said in a statement that 96% of patients with kidney disease receiving its Aranesp in a study were able to maintain target hemoglobin levels.

Conglomerate General Electric (NYSE:GE) $26.00 is said to be nearing a deal to buy the Bravo channel from Cablevision Systems Corporation (NYSE:CVC) $10.09 for around $1.25 billion in stock and cash. Dow component GE is gaining 2.6% to $26.70 in pre- market action.

Shares of Internet retailer Amazon.com (NASDAQ:AMZN) $19.80 are sinking lower at $19.36 this morning after a weekend article in Barron's financial publication said that recent sales volumes weren't big enough to likely hold the recent trend. Barron's called the stock "overvalued relative to its peers."

Also lower in pre-market action are shares of Autodesk (NASDAQ:ADSK) $12.51 as it slips lower to $12.10 in pre-market trading. The provider of design software warned that third quarter results would fall short of expectations as customers have delayed investment due to global economic weakness.

Stock futures are higher this morning with S&P futures (sp02z) jumping higher by 15 points at 913. NASDAQ futures (nd02z) are higher by 30 at 1,051 and Dow futures (dj02z) are up 140 points at 8,630.

Fair value for the S&P 500 today is $0.25. That price will not change during the session. HL Camp & Company has their computers set for program buying at $1.22 and set for program selling at $-2.08. Fair value for the NASDAQ-100 today is $2.20.

Jeff Bailey

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