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CNN Live At Daybreak

Microsoft Beat Expectations

Aired October 19, 2001 - 07:38   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.
PAULA ZAHN, CNN ANCHOR: Time to talk business now. Dow futures are lower this hour, not exactly what David Haffenreffer wanted to hear. He's here to tell us now what that may mean for the markets today.

Good morning, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Paula.

Yes, well it just could mean that we could have a lower open for the marketplace on this Friday morning, but some traders are actually saying today that that could be a good thing. The idea being that a modest pullback that we've seen over the past few sessions will help to create a new bottom or a base from which the markets could then tack on some steadier and perhaps more meaningful gains.

Look for Microsoft to help steer the markets today. The company beat earnings expectations late yesterday, but it is also sounding an alarm on profits for the rest of the year.

And today, by the way, is the 14th anniversary of Wall Street's darkest day, Black Monday. It was back on October 19, 1987 that the Dow plummeted more than 22 percent, its worst drop on record.

And that is a quick check on business on this Friday morning.

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