Preopen Trading: Major Tech Shares May Fuel Opening Bounce - TheStreet

Preopen Trading: Major Tech Shares May Fuel Opening Bounce

Nortel, SDL, Cisco and JDS Uniphase gain while Lernout & Hauspie is in trouble again.
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Futures were looking to bounce after yesterday's bust.

The

S&P 500 futures on

Globex

lately were up 9 to 1383, about 8 points above fair value as calculated by

TheStreet.com

. The thinly traded

Nasdaq 100

futures were up 48.5 to 3200, about 63.5 points above fair value, also calculated by

TSC

.

Nortel Networks

(NT)

and friends

SDL

(SDLI)

,

Cisco

(CSCO) - Get Report

and

JDS Uniphase

(JDSU)

, which all fell in yesterday's session, were united making comebacks this morning on

Instinet

. Nortel was up 2.3%, or $1.02, to $45.89; SDL was up 3.3%, or $7.81, to $242; and Cisco rose $1 to $51. 63, while JDS Uniphase jumped $1.50 to $72.50.

Old Economy stock

Philip Morris

(MO) - Get Report

, which hit a new 52-week high earlier this week, was sliding a bit. It lately was down 25 cents to $37.38.

But this morning's big loser was

Lernout & Hauspie

(LHSP)

. The maker of voice recognition software was lately down 11.8%, or 94 cents, to $7.

The Wall Street Journal

reported that the company's claim that it received multimillion-dollar license payments from four Belgian start-ups isn't backed by financial statements the companies filed with Belgium's central bank.

TheStreet.com/NYTimes.com

joint newsroom wrote about Lernout & Hauspie's

recent problems in an earlier story.

Europe's major indices were mixed going into midsession, with France's

CAC-40

down 0.21%, Germany's

Xetra Dax

up 1.40% and the U.K.'s

FTSE 100

up 0.04%. Japan's

Nikkei 225

rose 0.12% overnight, while Hong Kong's

Hang Seng

slipped 0.43% (see today's

Asian Markets Update for more).

For Wednesday's postclose trading, see The Night Watch.