Traders are looking at a flat open for equities ahead of the 3- day weekend, as both bond and stock markets will be closed on Monday in observance of Memorial Day.
S&P futures (sp03m) currently trade down 0.70 points at 930.00, NASDAQ future (nd03m) are holding unchanged at 1,130.00, while Dow futures (dj03m) edge down 12 points at 8,565.
In an otherwise quite morning trade, shares of Marvell Technology Group (NASDAQ:MRVL) $27.58 are jumping to $31.90 in pre-market trade after the integrated circuit maker reported Q1 (April) EPS of $0.19, which was 2-cent better than analyst's forecast. The company said revenues rose 70.3% year-over-year to $168.3 million versus the $162.3 million consensus.
The upbeat tone from Marvell has Broadcom (NASDAQ:BRCM) $20.95 rising to $21.82 ahead of this morning's opening bell.
Shares of Dendreon (NASDAQ:DNDN) $5.57 are this morning's pre- market percentage gainer, rising $6.66 (+19.5%) after the Wall Street Journal printed a favorable article on the recent developments in the cancer war with a new treatment called the dendretic-cell vaccine. The particular vaccine looks to use the immune system to fight cancer and could potentially serve as a viable alternative to chemotherapy if it can prove efficacy. Companies mentioned that are attempting to develop commercial products are DNDN, Anitgenics (NSDAQ:AGEN) $10.61 and Genzyme (NASDAQ:GENZ) $44.51.
Here's a quick look at today's Pivot Analysis Matrix, with today's DAILY levels, WEEKLY and MONTHLY levels.
Pivot Analysis Matrix