Morning Stock Watch: VMWare up, Safeway down

The Dow Jones Industrial Average is trending up more than 74 points this morning. Palo Alto-based VMWare, Inc. (VMW) is up more than six points in early trading while Franklin Resources, Inc. (BEN) is up more than four points.

Safeway, Inc. (SWY), the grocery store giant, is trading down more than a point this morning. SanDisk Corp. (SNDK) is also down nearly two points.

Intel Corp. (INTC) and Sun Microsystems, Inc. (JAVA) are experiencing heavy trading this morning with nearly 22 million shares of Intel changing hands and 19.6 million Sun shares traded.

In other business news, Safeway is reporting its profits are up 12 percent, according to MarketWatch. An analysts downgraded shares of Intel expecting a weak fourth-quarter demand in the computer market, according to the Associated Press.

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