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CNN Live At Daybreak

Futures Indicate Weaker Opening after Stocks Finish Higher Yesterday

Aired October 26, 2001 - 05:49   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.
DARYN KAGAN, CNN ANCHOR: Let's get a check -- I'll get it going -- a check today...

LEON HARRIS, CNN ANCHOR: A check?

KAGAN: ... with our business-type guy. David, I know you can help me. Save me.

(CROSSTALK)

HARRIS: It's early.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Well, the good news here is that it's Friday.

KAGAN: That it is.

HARRIS: There you go, there you go.

HARRIS: That's all we can say, at least at this hour. We'll get some investor reaction this morning to a batch of earnings releases late yesterday. Among them, Amgen, the world's biggest biotech company, beat Wall Street's expectations, earning $330 million.

Other stocks to watch today include fiber optics maker, JDS Uniphase. It reported a smaller-than-expected loss of $1.2 billion. JDS warned that its revenue in its fiscal second quarter would be 10 to 15 percent lower.

But get this: La-Z-Boy, the nation's biggest maker of upholstered furniture -- you know these chairs, they kick back nicely -- raised its guidance. The company said it's all due to stronger- than-expected sales.

All three stocks closed higher yesterday, along with much of the markets. The major averages all staged an impressive rebound late in the day, this despite gloomy economic news.

Now, this morning, we'll get new figures on new home sales and consumer sentiment. Those are all due out shortly after the opening bell.

At this point, the futures are pointing to a weaker open for us this morning.

That is the latest financial news.

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