Tuesday, March 5, 2013

Tuesday, March 5th pre-mkt outlook

The /ES looks to open around 1532 after closing at 1525 yesterday which was also its overnight low.

$GOOG is in the news as China says the Android OS is commanding too much market share in China. The stock is trading at new all time highs nearly every minute of the day now, as it trades at 827 in the pre-mkt after closing at 821 after opening at 805.

$JCP is in the news as Vornado Realty Trust is looking to liquidate 10million shares of their JCP stock. The stock opened yesterday at 17.75 and closed at 16.75. It traded at a low in the extended market of 15.75 and a high of 16.50. It looks to open around 15.91. Buying the weekly 16.00 straddle could be a good play as the market tries to value JCP this week.

$QCOM increased their dividend payment 20% and authorized a $5billion dollar buyback with no expiration date. The stock closed at 66.50 and looks to open around 68.

$IPXL is getting crushed in the pre-mkt, trading down at 15.40 after closing at 20 yesterday. The FDA has found problems at the company's manufacturing facility.

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