Paul Shread

Computer Sciences capped another down day on Wall Street Tuesday with a financial outlook that was below expectations. CSC reported March quarter earnings of $1.16 a share on sales of $3.88 billion, beating forecasts. Sales were flat with the year-ago quarter. U.S. government sales were strong thanks to Department of Defense work, but commercial sales […]

NeoPath Networks has attracted the attention of Cisco Systems and also hired Network Appliance’s vice president of international sales as its new COO. NeoPath’s latest $11 million funding round included participation by Cisco and previous investors August Capital, DCM-Doll Capital Management and Gabriel Venture Partners. The company also announced the appointment of NetApp executive Ali […]

Blue chips have been able to find a little support here, but now techs need to join them. The Dow (first chart below) has a strong band of support between 10,960 and 11,040; the index bounced right at the top of that range today. Resistance is 11,180, 11,225, 11,250, 11,280 and 11,330. The Nasdaq (second […]

A big decline in semiconductor shares kept the stock market under pressure on Monday. Analysts’ downgrades of AMD and KLA-Tencor sent the chip sector to a 4% loss on the day. Caris & Co. downgraded AMD on competitive concerns following Friday’s big gain on news that Dell will use AMD chips in its high-end servers. […]

Hitachi Data Systems on Monday upgraded its high-end TagmaStore Universal Storage Platform, boosting performance and adding new functionality for disaster recovery and security. HDS, which claims a 40 percent market share and an installed base of more than 3,000 for the TagmaStore, boosted performance by 25 percent to 2.5 million IOPS. The upgraded USP offers […]

Dell shook up the tech sector Friday with its announcement to use AMD chips and to continue its aggressive pricing strategy. Dell shares rose 2.6% after the company met lowered expectations and issued guidance that was slightly lower than Wall Street was expecting. The news that Dell’s fortunes have stabilized helped the Nasdaq end its […]

The Dow (first chart below) became the last of the major indexes to break down today. The next support levels are 11,040-11,050, 11,000 and 10,960, and resistance is 11,175, 11,275-11,280 and 11,330-11,350. The Nasdaq (second chart) continues to lose support levels. 2150, 2125 and 2100 are the next big support levels, and resistance is 2190-2200, […]

Dell met lowered expectations with its quarterly results late Thursday, but the company’s biggest news was for AMD and Intel . Dell announced that it will use AMD chips in its high-end servers, the first time Dell has used AMD chips. The announcement sent AMD shares soaring 15% in after-hours trading, while Intel shares shed […]

Today appears to be a 90% downside volume day on the NYSE — such intense selling could be good for a bounce, if nothing else. That said, a lot of technical damage has been done in a short amount of time. Off to the weekly charts to check. The Nasdaq (first chart below) has support […]

Another down day for the Nasdaq (first chart below) today, but today’s “inside day” — within yesterday’s trading range — shows some hesitation on the part of sellers. 2245 to the upside and 2220 to the downside could dictate the index’s next move. The Dow (second chart) has support at 11,330, 11,270 and 11,200, and […]

HP on Tuesday delivered a rarity for a tech bellwether this year: quarterly results that didn’t disappoint Wall Street. HP’s shares rose 3% in after-hours trading after the company reported April quarter earnings of 54 cents a share, a nickel ahead of analysts’ estimates. Sales of $22.55 billion were a little less than Wall Street […]

The Nasdaq (first chart below) is back below critical support at 2245. Today’s bounce ended there, but tomorrow morning’s inflation data may have a lot to say about whether the index stays below that level. The first support levels are 2229 and 2220. The Dow (second chart) has support at 11,330, 11,260 and 11,200, and […]