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CNN Live At Daybreak

Yahoo! Met Earnings Forecasts and Beat Sales Predictions

Aired April 11, 2002 - 06:14   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Well we seemed to shake off the doldrums on Wall Street, at least yesterday. Can we repeat though? We go to New York City now and talk with Deborah Marchini.

Do you know the answer?

DEBORAH MARCHINI, CNN FINANCIAL NEWS CORRESPONDENT: Do I know the answer, no.

COSTELLO: No.

MARCHINI: Can I tell you what the indications are,...

COSTELLO: Yes.

MARCHINI: ... no follow-through rally. Sorry, Carol, disappoints you, but this morning don't hold your breathe. We've got the futures pointing to a flatter to slightly lower open, which is not what investors want to hear. Yesterday, as Carol alluded to, Wall Street managed to break out of its recent doldrums. Some upbeat reports from Sears helped to boost blue chips stocks and the Dow rallied 173 points ending a two-session losing streak. The Nasdaq composite rose 24 points and nearly 1.5 percent.

Now in terms of stocks you want to watch today, an important one could be General Electric. Its earnings are due before the opening bell. Also, watch Yahoo!. It met earnings forecasts and beat sales predictions for the first quarter. Still the Web portal posted a loss for the sixth quarter in a row, $54 million or so. Looking ahead, though, Yahoo! says it sees strong profitable growth this year. So I guess in the tech sector on balance, Carol, they see that as positive news.

COSTELLO: Better than seeing it as negative news. At least they're seeing the glass half full.

MARCHINI: Half full.

COSTELLO: Thanks, Deborah.

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