As expected after those nasty postclose warnings from PC maker
futures were tanking this morning and indicating a really ugly opening. They lately were down 59.5 points on
, or about 140 points below fair value as calculated by
S&P 500 futures were looking a little better, but were still down 12.2, or about 22 points below fair value as calculated by
Gateway, which said last night it would
badly miss fourth-quarter estimates, lately dropped 37.1%, or $11.50, to $19.50 on electronic brokerage
. Altera, which also had
no good news, lately was spared some of the preopen bloodletting. In after-hours trading Wednesday, the stock was trading as low as $19.25 to $25.94.
was the most actively traded stock this morning. The chipmaking giant lately was down 10.1%, or $4.31, to $38.44.
Europe's major indices were falling in reaction to (what else?) the aforementioned warnings, with France's
dropping 2.2%, Germany's
1.9% lower and the U.K.'s
down 1.3%. Japan's
rose 1% overnight with help from
, which said it was buying a 16% stake in
for $9.8 million. Hong Kong's
For Wednesday's postclose trading, see The Night Watch.