Pre-Market Update – Gapping Stocks (FCX, MCD, GD, and DELL)

Published on Thursday, 26 August 2010 07:23 Written by Christian Paolinetti

New York, August 26^th (TradersHuddle.com) – Stock futures gained as European markets moved to the upside and the Dollar Weakened. Market participants braced for the Labor Department’s weekly jobless claims to be release before the opening bell.

Here are some notable stocks in pre-market action.

Freeport McMoRan (NYSE:FCX), the largest publicly traded copper producer in the world, gained 1.13%, as copper prices gained on the London Metals Exchange from the lowest closing price in a month, as equities around the world advanced and the Dollar weakened.

McDonald’s (NYSE:MCD), the largest restaurant chain in the world, gained more than 1.5% to $74.34. Yesterday, McDonald’s was among the five best Dow components. Today, momentum traders are attempting a breakout, as the stock has calculated support and resistance at $65.31 and $73.34, respectively.

General Dynamics (NYSE:GD), the diversified defense company and maker of Gulfstream business jet, climbed 1.37%. Yesterday, General Dynamics lost more than 1.5% on news that the U.S. Army abruptly canceled a multibillion-dollar combat vehicle competition, saying it would issue revised rules for a more affordable program within 60 days, delaying a contract award by up to six months.

Dell (NASDAQ:DELL), the third largest PC maker in the world, gained close to 1%, as the company prepares a counter bid for utility storage company 3Par (NYSE:PAR). Dell will try to fend-off Hewlett-Packard’s bid’s that was 33% higher than its original bid.