Paul Shread

The Nasdaq (first chart below) continues to cling to 2090 support, with 2065 below that. To the upside, resistance levels are 2110-2115, 2125 and 2150. The S&P (second chart) is the most constructive chart here, with support at 2155-2157 and resistance at 1264 and 1270. The Dow (third chart) is clinging to 11,000, with 10,935 […]

The chip sector (first chart below) was trying to turn green today even as the rest of the market was selling off, a hint that the rest of the market might soon follow. The Nasdaq (second chart) found support near the 2090 level. First support levels are 2125 and 2117, and 2150 is a big […]

Investors looking for a reason to buy found it Tuesday when KLA-Tencor said its June quarter was better than expected. The stock market, which was in a steep decline over disappointing earnings news from Lucent and Alcoa , turned around after the chip equipment maker’s upbeat comments to end the day modestly higher. KLAC shares […]

CA continued its data management acquisition spree on Tuesday, picking up continuous data protection (CDP) and replication specialist XOsoft for an undisclosed sum. The acquisition follows last month’s buy of records management firm MDY Group. “They’ve made some very sharp buys,” said Enterprise Management Associates senior analyst Mike Karp. “They’re buying companies that have good […]

Tech stocks remain one of the weaker sectors of the market. Perhaps earnings can provide some relief when reporting season swings into high gear next week, but so far earnings in general are not off to a promising start. The Nasdaq (first chart below) remains well below its 200-day average, while the Dow and S&P […]

A warning from EMC and a sector downgrade from Merrill Lynch dragged tech stocks lower on Monday. EMC fell 7% after warning that its second-quarter results would come in below Wall Street forecasts. Merrill, meanwhile, lowered its rating on the tech sector to “underweight,” a move the firm first considered last month, on liquidity, earnings […]

EMC warned Monday that its second-quarter results will come in below Wall Street estimates, but the company said there was some good news behind the shortfall — stronger than expected demand for its new high-end Symmetrix DMX-3 systems. In a statement, EMC Chairman, President and CEO Joe Tucci said the company “received more customer orders […]

The Dow (first chart below) led to the downside for a change. 11,040-11,066 is important support, and resistance is 11,131-11,150, 11,175 and 11,240. The Nasdaq (second chart) has important support at 2113, and 2150 is now resistance again. The S&P (third chart) held up relatively well due to its heavy financial weighting. The index has […]

A mixed jobs report and earnings warnings from the likes of AMD , Business Objects , WebMethods and 3M sent stocks sprawling on Friday. 3M accounted for half the Dow’s loss, tumbling 9% on weakness in its optical film business, the latest company to get hit by tough going in the LCD market in recent […]

Blue chips continue to lead the market here, and while some of that is likely due to jitters ahead of tomorrow’s unemployment report, it’s been a persistent trend since mid-December. The market’s not likely to make a huge advance as long as investors are playing it safe. Still, with the indexes all consolidating at recent […]

eBay weighed on the tech sector Thursday, falling 5% on the departure of its PayPal chief and concern about competition from Google . PayPal President Jeff Jordan will leave in the fall to spend more time with his family, the company announced. He will be replaced by Skype chief Rajiv Dutta. Skype VP Alex Kazim […]

The storage market slowed in the second quarter from its strong growth rate, but will likely pick up again in the second half of the year, according to a report by Robert W. Baird & Co. Baird’s latest enterprise VAR survey found a “modestly weak demand environment” for the second quarter, but the pipeline bodes […]